Euler Finance Gives $200M Exploiter an Ultimatum
- DeFi lending protocol Euler Finance has given the exploiter 24 hours to return 90% of the $197 million he stole in a flash-loan attack on Monday.
- If the funds were not returned in time, the protocol is ready to post a $1 million bounty on any information that could lead to the arrest of the attacker.
March 15, 2023, 12:14 PM
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Euler Finance Exploited for $197M in Flash Loan Attack
- The attacker carried out multiple transactions to steal 85,818 staked ether (stETH), 34.5 million USDC, 849 wrapped Bitcoin (WBTC), and 8.9 million DAI.
- Euler Finance is now working with security professionals and law enforcement trying to rectify the situation, and will provide more information in the near future.
March 13, 2023, 1:30 PM
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DeFi Protocol Tender.fi Exploited by Alleged White Hat Hacker
- DeFi lender Tender.fi has paused all borrowing while investigating an exploit which saw an attacker borrow $1.6 million worth of assets using only 1 GMX token.
- The attacker, however, appears to be a white hat hacker who the platform has already contacted in order to remedy the situation.
March 7, 2023, 5:44 PM
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Babel Finance Considers Minting Special “Recovery” Stablecoin
- Babel Finance co-founder Yang Zhou is planning to propose the creation of a new DeFi project in order to generate revenue to repay debts owed to creditors.
- Called Hope, the potential DeFi platform aims to mint a new crypto-backed stablecoin, which will serve as a type of “recovery coin” for Babel.
March 6, 2023, 5:22 PM
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Feb 23, 2023
DoJ Indicted Forsage Founders for $340M DeFi Ponzi Scheme
- The DoJ discovered the Forsage used smart contracts with coding consistent of a Ponzi scheme, and charged its four founders with conspiracy to commit wire fraud.
- The U.S. SEC charged nearly a dozen individuals involved in the DeFi platform in August 2022, while the Philippines SEC flag Forsage as a Ponzi scheme back in 2020.
Feb 22, 2023
Chaos Labs Raises $20M in Seed Round Co-Led by PayPal and Galaxy Digital
- The new funding will help Chaos Labs build out and expand its suit of risk and security products that can help DeFi protocols.
- The seed funding round was co-led by PayPal and Galaxy Digital, but also saw participation from including Coinbase Ventures, Polygon, Avalanche, OpenSea, Uniswap, and others.
Feb 16, 2023
Mango Markets Exploiter Seeks to Keep $47M “Bug Bounty”
- The person responsible for the Mango Market exploit, Avraham Eisenberg, has objected to Mango Labs’ lawsuit by claiming he had already settled with the DAO.
- Mango Labs claimed last month that the settlement with the DAO was made “under duress”, and that he should return the $47 million “bug bounty”.
Feb 6, 2023
Boba Network to Become Sixth Chain to Deploy Uniswap V3
- After passing its governance vote, the proposal to deploy Uniswap v3 on Boba Network has been scheduled to proceed in the coming weeks.
- Boba Network claimed the decision will allow Uniswap to expand into the Asian market, and enable developers to build on and off-chain DeFi applications on top of Uniswap.
Feb 2, 2023
BonqDAO Exploited for $90M
- A hacker was able to manipulate the price of the AllianceBlock token on BonqDAO, which allowed him to drain close to $90 million worth of crypto from the protocol.
- Both platforms have paused their services, and are currently in the process of removing liquidity as to hinder the hacker’s ability to convert the stolen tokens.
Jan 26, 2023
Aave Community Approves v3 Deployment on Ethereum
- The governance proposal to launch Aave v3 on the Ethereum network passed unanimously, with all participating AAVE token holders voting in favor.
- The third version of Aave will exist alongside v2, and will initially support seven assets, including wBTC, wETH, wstETH, USDC, DAI, LIMK, and AAVE.