DeFi News and Insights

The latest DeFi news and insights to help you become a DeFi expert

Latest News

Mango Market Exploit: A DeFi cybercrime disguised as “Good Intentions”

Market manipulation in the DeFi crypto world is almost a usual occurrence. The Mango Market exploit is just another in an endless list of exploits. Who are those involved, who's to blame and how can a future occurrence be prevented?

Updates on Elusive Kwon

An update on Do Kwon's whereabouts and the chase by prosecutors and group of vigilantes

Attacker Exploited over $100 Million from Solana's Mango Markets

An attacker exploited the DeFi Platform Mango Markets by manipulating oracle's price of MNGO tokens. Negotiations have commenced between the attacker and the platform.

TechCrunch Reveals Uniswap Labs' Move To Secure Over $100 Million New Funding

Uniswap Labs is reportedly in talks with Polychain and one of Singapore's sovereign funds to raise over $100 million in equity at a valuation of $1 billion to expand its offerings. Sources say there is no conclusion yet.

Bitmatrix Launches Mainnet Beta For Automated Market Maker On Liquid

Bitmatrix has launched its mainnet beta on the Liquid network. With this new launch, the AMM protocol aims to provide better and improved services.

Wintermute Suffers $160M Loss in Recent DeFi Hack

Crypto market maker, Wintermute, has lost $160M in a recent hack in its DeFi operations. However, the company claims to be solvent as its CeFi and OTC operations are unaffected.‍

GMX Allegedly Hit By A Price Manipulation Exploit

Decentralized exchange GMX reportedly suffered from a price manipulation exploit targeting the AVAX/USD pair, with the platform's estimated losses exceeding $500K.

Chainalysis Helps Recover $30M From Ronin Bridge Hack

Chainalysis aided law enforcement authorities in recovering $30M stolen from Axie Infinity by the Lazarus Group, the perpetrators behind the Ronin Bridge hack. 

Avalanche Targeted By A Flash Loan Attack

The Avalanche Blockchain was hit by a flash loan attack that allowed the hacker to manipulate the token prices and escape with $370K worth of USDC.

ShadowFi Loses $301K In A 2-Phase Attack On Its Liquidity Pool

ShadowFi lost 1,078 BNB tokens in a 2-phase exploit attack that drained the DeFi platform’s liquidity pool to $0.

Cardano Confirms Vasil Hard Fork Will Happen On Sept 22

After the long wait, Cardano's Vasil upgrade is set to launch in a few weeks. This upgrade is coming a year after the popular Alonzo upgrade and promises greater scalability and lower transaction fees.

Kyber Network Attacked By A Frontend Exploit

Kyber Network was hit by an exploit that targeted the KyberSwap frontend, with the perpetrator escaping with $265K in crypto assets.

Babylon Finance To Cease Operations By November 15

Babylon Finance will shut down its services by November 15 after failing to recover from the Rari hack. 

Upgrade Bug Renders Compound Finance’s cETH Market Unusable

The Compound platform upgrade appears to have temporarily hit a stumbling block, halting the cETH market. This isn't a new occurrence on the platform, but would they fix this bug faster?

Ava Labs Denies Crypto Leaks’ Conspiracy Accusations

Ava Labs CEO dismissed accusations that the firm paid off Roche Freedman to sue its competitors.

Compound Launches New Version 3 Protocol Upgrade

The DeFi platform released a streamlined protocol version that enhances security, capital efficiency, and user experience. This upgrade eliminates complexity while ensuring that Compound remains an effective tool for DeFi borrowers.

Uniswap Foundation A Reality Thanks To Holders

Uniswap holders unanimously vote for the creation of the ecosystem's Foundation to improve governance and foster growth.

XRP Network Sees Highest Whale Activity Since May

As the crypto market heads in a bearish direction, XRP sees a massive influx of whale transactions, with over $100K worth of funds transferred as Ripple tokens.

Fei Labs Submits Proposal To Remove Governance Powers From Tribe DAO

Fei protocol submits a proposal titled "TIP 121" that seeks to redistribute Tribe DAO's assets and strip the DAO of its governance powers in light of Rari Capital's Fuse hack in April 2022.

Cardano Developer Claims Newly Discovered Bug Renders Testnet Catastrophically Broken

As the Cardano community gears up for its highly anticipated Vasil hard fork, a developer claims the testnet, which was earlier dubbed "Tested and Ready" for the upgrade, is impacted by a major bug.

Celer Network’s cBridge Frontend Hit By DNS Hijack

Level 2 scaling protocol Celer Network is the latest target of crypto hacking as the platform reports seeing potential signs of a DNS hijack of its cBridge frontend.

Antelope Forks From EOSIO Under EOS Network Foundation

Antelope announces it is forking from open-source blockchain protocol EOSIO 2.0 to become an independent blockchain utilizing an open framework to build next-gen dAPPs and other Web3 services.

XP Inc. Launches Crypto Trading Platform In Partnership With Nasdaq and BitGo

Brazilian investment management firm XP Inc. became a part of the crypto community following the launch of its crypto trading platform. 

BitGo Retaliates With $100M Lawsuit Threat After Galaxy Digital Backs Out Of $1.2B Acquisition Deal

Crypto firm Galaxy Digital announced the company is terminating a $1.2B proposal to acquire digital asset trust platform BitGo in what could have been the biggest acquisition deal in crypto history. In response, BitGo threatened to sue Galaxy Digital with a $100M lawsuit. 

Monero Carries Out Hard Fork With Latest Update

Decentralized cryptocurrency Monero (XMR) undergoes a hard fork with its latest update to enhance the network’s resilience to hacking attacks and transaction speed.

Cardano's Vasil Upgrade In View As ADA Aims For The $1 Price Zone

Cardano's price is showing bullish signs as developers finalize the deployment of the much-awaited Vasil upgrade.

Acala Network Suffers Security Breach, Passes Vote To Halt Operations

Acala, Polkadot’s decentralized finance network, had its protocols tampered with by hackers, causing it to pass an urgent vote to suspend operations until the issue is resolved.

Velodrome Accuses Former Team Member Of Stealing Funds During Recent Hack

Velodrome accused a former team member of being the culprit behind the theft of $350K from the team’s wallet in August.

Skynet Labs Shuts Down After Failing To Raise Funds

Siacoin’s parent company, Skynet Labs, will shut down as the firm could not complete its fundraising.

Tornado Cash DAO Approves Proposal To Gain Partial Control Over Treasury

The Tornado Cash DAO community hastily voted to add the DAO as a signatory to its $21.6M treasury. 

Curve Finance Loses Over $520K After DNS Hijack

The firm behind the CRV token, Curve Finance, became the latest victim of hacking when a DNS hijack compromised its front end.

DeFi Total Value Locked Drops By 66% But Metrics Report Steady Growth

Total Value Locked in DeFi declined by 66%, but many factors, including DEX aggregators, active addresses, and ongoing fundraising indicate growth reveal that “DeFi winter” is yet to come.