Crypto and DeFi cause disintermediation in the banking system – OCC head
The head of the Office of the Comptroller of the Currency (OCC) said cryptocurrency and decentralized finance (DeFi) activities among others are factors contributing to the disintermediation of the banking system. Acting Comptroller of the Currency Michael Hsu presented remarks on the issue of banking trust on Sept. 15 at a meeting of the Exchequer […]
Defi Hack Alert: NowSwap suffers a $1 million loss due to a cyber attack
According to PeckShield, the DEX protocol, NowSwap experienced a cyber attack which made the firm lose more than $1 million in money. The hackers made off with 535,000 USDT and 158 WETH. USDTs are converted to ETH using 1inch, a distributed network service, and then transferred to Tornado Cash, an anonymous trading platform run by […]
PrimeDAO raises $2M in DeFi funds to help DAOs
PrimeDAO has received $2 million in startup funding to help decentralized autonomous organizations (DAOs) in the DeFi industry coordinate and cooperate more effectively. The round included major DeFi investment groups such as Signum Capital, LD Capital, and Stacker Ventures, according to a release shared with Cointelegraph. The funding will be used to create PrimeDAO’s “DAO2DAO” […]
dTrade derivatives exchange raises $22.8M for market makers
dTrade, a decentralized exchange, has funded $22.8 million for a market-making fund aimed at providing more liquidity to the ecosystem, which might pave the way for larger DeFi adoption on Polkadot. According to the business, the funding would allow dTrade to debut with “deep liquidity” supported by some of crypto’s largest market makers. The funds […]
Avalanche reportedly exploited for crypto tokens worth $3.2 million
Zabu, a DeFi app under Avalanche confirmed that the attacker was successful in withdrawing 4.5 billion tokens from the Zabu Farm Contract and stealing around $600,000 in total. It has been revealed that Zabu Finance, a DeFi application running on the Avalanche blockchain, has been attacked in order to obtain crypto tokens worth $3.2 million. […]