Cream Finance’s DeFi platform suffers a $19 million loss as a result of a flash loan hack
Using a reentrancy issue in the AMP token, the Cream Finance hacker was able to profit by $18.8 million over the course of 17 transactions. In a huge exploit, Cream Finance , a major decentralized finance (DeFi) protocol focusing on lending, was targeted by a hacker who stole approximately $19 million from the platform’s cryptocurrency. […]
DeFi project xToken suffers a major second exploit since May
Hackers uncovered a vulnerability in the smart contracts for xToken’s xSNX product over the weekend. The exploit is approximately around $4.5 million and marks yet another attack to hit the decentralized financial project. The xToken team announced on Aug. 29 that the hack had drained around $4.5 million from the company’s xSNX platform, which allows […]
SEC reportedly contracts AnChain.AI analytics firm to monitor DeFi industry
According to reports, the US Securities and Exchange Commission has agreed to pay blockchain analytics firm AnChain.AI $125,000 to help monitor and regulate the decentralized finance industry. An AnChain.AI company spokesman confirmed the arrangement with the federal regulator to Forbes on Friday , adding the SEC and blockchain startup have the opportunity to sign up […]
Chris Poulin becomes SingularityDAO’s CTO and head of AI
Artificial intelligence and the crypto space are finding common grounds, Fetch.ai recently launched its NFTs for AI arts. SingularityDAO also focuses on creating AI-driven investment portfolios. SingularityDAO, a DeFi portfolio manager, has named Chris Poulin as its new chief technology officer and head of artificial intelligence, highlighting the company’s goals for AI-driven investing solutions. Poulin’s […]
Galaxy Digital partners with Bloomberg to launch DeFi index
According to Bloomberg’s announcement on Thursday, the firm has entered into a strategic partnership with Galaxy Digital Management. The partnership will help expand their crypto offerings to measure the decentralized financial space’s performance. Bloomberg announced on Thursday that it will develop an index alongside Galaxy Digital that would track nine distinct decentralized finance, or DeFi, […]