Cryptocurrency
DeFi
Acala Network’s aUSD Stablecoin Falls 99% After Exploit
  • A bug in Acala Network’s newly launched iBTC/aUSD liquidity pool allowed an attacker to mint close to 1.3 billion aUSD tokens, causing its price to drop by 99%.
  • The protocol’s team quickly put the network in maintenance mode, freezing the funds in the attacker’s wallet, and is now discussing ways to restore aUSD’s peg to the U.S. dollar.
2 days ago
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Curve Finance Finds and Resolves Site Exploit
  • The DeFi platform told its users it had “found and reverted” a frontend exploit only an hour after it was first reported.
  • The attacker apparently used a DNS spoofing attack to clone curve.fi’s website, and redirect the DNS points to his IP address.
August 10, 2022, 12:41 PM
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Nomad Token Bridge Suffers $190M Security Exploit
  • Hundreds of addresses were involved in the $190 million exploit, and Nomad believes that at least some of them were white hat hackers.
  • Researcher for Paradigm has speculated that the exploit was caused by a recent update to one of Nomad’s smart contracts.
August 2, 2022, 9:19 AM
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Aave Community Vote Approves Stablecoin Creation
  • The community proposal passed with 501,000 AAVE tokens in favor, which amounted to 99.99% of the total votes cast during the three0day long voting period.
  • The GHO stablecoin is similar to other algorithmic stablecoins, though it aims to become an overcollateralized stablecoin similar to DAI.
August 1, 2022, 10:54 AM
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Jul 28, 2022
Flash Loan Exploit Drains Liquidity From Nirvana Finance
  • Hacker used a flash loan attack to manipulate and drain Nirvana’s liquidity pools, causing the protocol to lose $3.49 million in digital assets.
  • Shortly after the attack, which used a flash loan from Solend, both Nirvana’s native token ANA and NIRV stablecoin fell in price by over 80%.

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Jul 19, 2022
Lido Finance Expands ETH Staking to Layer-2
  • Lido has already integrated its bridged staking services with Argent and Aztec, and will reveal more partnerships in the coming months.
  • The company will initially support bridging and staking of wrapped stETH (wstETH) on layer-2 networks, but will eventually allow of staking of ETH directly on layer-2 networks.
Jul 14, 2022
BNB Chain Launches dApp Hub With Anti-Scam Tool
  • The newly launched dApp aggregator, called DappBay, will allow users to easily discover “great investment opportunities” on the BNB Chain.
  • The platform also comes with a built-in smart contract risk scanning tool, called Red Alarm, which was designed to protect users from high-risk projects.
Jul 12, 2022
Celsius Reduces Aave Debt Significantly, Reclaims $420M in Collateral
  • Blockchain data shows that Celsius has repaid $81.6 million of its debt to Aave today alone, freeing up 400,000 stETH tokens that it used as collateral.
  • Data from crypto tracking platform Zapper also shows the company’s outstanding debt has been reduced to $59 million, the majority of which is owed to Compound.
Jul 11, 2022
Celsius Swaps Legal Team, Continues to Pay Off Debt
  • Celsius decided to hire new lawyers to advise on its available restructuring options, after reportedly resisting a Chapter 11 bankruptcy advice from previous counsel.
  • The company has also continued to repay its outstanding debt with DeFi lending protocols, and today transferred 20 million USDC to Aave, reducing its total debt to around $215 million.
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