Exploring Collaboration: Traditional Insurers and DeFi Protocols
This article will explore the collaborative opportunities between traditional insurers and DeFi protocols and how they can benefit both. As the financial landscape evolves, the collaboration between traditional insurers and DeFi protocols emerges as a promising avenue for innovation. By combining the stability and expertise of traditional insurance companies with the efficiency and transparency of […]
Court Exonerates Platypus Finance Hackers Following $8.5M Hack
A French court took no action against two brothers, Mohammed, and Benamar M, after clearing them of all criminal charges in the $8.5 million theft from the decentralized finance (DeFi) protocol Platypus. By draining and transferring $8.5 million from Platypus via a flash loan attack on February 16, hackers compelled the protocol to suspend trading […]
Phantom Wallet Launches Auto-Confirm Feature for Six Protocols
Phantom, a crypto wallet for Solana, has announced a trial version of its auto-confirm feature, which allows users to validate transactions without manual approval on six protocols. The auto-confirm feature is a unique function that Phantom has introduced to enhance the user experience and convenience of its wallet. The feature enables users to activate automatic […]
Algorand’s Largest DeFi Protocol Algofi to Shut Operations
The borrowing and lending protocol Algofi, which was developed on the Algorand decentralized finance blockchain, will shortly be shut down. The Algofi platform will soon be shut down, despite the fact that developers’ “belief in the strength of Algorand’s technology and novel consensus algorithm has not wavered,” according to a July 11 announcement: “A confluence […]
Arcadia Finance Faces Hack on Ethereum, Optimism for $455K
Decentralized finance (DeFi) protocol Arcadia Finance was hacked using a code vulnerability that allowed the hacker to drain funds worth roughly $455,000 from its Ethereum and Optimism vaults. PeckShield, a blockchain investigator, notified Arcadia Finance of a hack and identified the cause as “the lack of untrusted input validation.” Supposedly, the code lacked a mechanism […]