Understanding DeFi insurance and its importance in mitigating DeFi risks and threats. — The world of decentralized finance (DeFi) is a rapidly expanding frontier in the financial sector. With its roots in blockchain technology, DeFi offers a plethora of benefits, including decentralization, permissionless systems, self-executing smart contracts, and encryption to ensure security. …

Learn how Kyber Network was exploited across multiple chains, resulting in a loss of $48.3 million. — TL;DR On November 23, 2023, the Kyber Network was exploited across six different chains due to a smart contract vulnerability, which resulted in a loss of approximately $48.3 million worth of assets. Introduction to Kyber Network Kyber Network is a hub of liquidity protocols that aggregates liquidity from various sources to provide instant transactions on…

Learn how the HECO bridge and HTX were exploited, resulting in a loss of $99.3 million. — TL;DR On November 22, 2023, HTX (Huobi)’s hot wallets were compromised for roughly $12.5 million, and its HECO Chain’s Ethereum Bridge suffered a loss of about $86.8 million, cumulatively amounting to a total loss of approximately $99.3 million in assets. Introduction to HECO and HTX Huobi Global is a centralized international digital asset exchange.

Exploring Cardano utilizing Polkadot’s Substrate framework for its partner-chain project. — In the rapidly evolving world of blockchain, the concept of “partner chains” has emerged as a groundbreaking innovation. It is poised to redefine the capabilities and collaboration within this space. Cardano, a blockchain technology facilitating dApp creation, is partnering up with Polkadot to build partner chains. Through this collaboration, the…

Learn how the Raft Protocol was exploited, leading to a loss of assets worth 1577 ETH. — TL;DR On November 11, 2023, the Raft Protocol was exploited on the Ethereum Mainnet due to a smart contract vulnerability, which resulted in a loss of 1577 ETH, worth approximately $3,300,000. Introduction to Raft Raft enables the generation of R, a decentralized USD stablecoin, by opening a collateralized debt position or by depositing stablecoins…

Learn all about addressing interoperability with cross-chain, multichain, and omnichain. — Over time, we’ve seen a surge in blockchain ecosystems, including new foundational layers and Layer 2 solutions, each offering unique advantages. An essential aspect quickly emerged as a critical factor: interoperability, the ability for these diverse chains to transfer data and communicate with each other.

Learn how CoinSpot was exploited, leading to a loss of 1,283 ETH worth $2.472 million. — TL;DR On November 8, 2023, CoinSpot was exploited across two of its hot wallets, resulting in a loss of over 1,283 ETH, worth approximately $2.472 million. Introduction to CoinSpot CoinSpot is a global-centralized cryptocurrency exchange based out of Australia. Vulnerability Assessment The root cause of the exploit is reportedly due to the compromise of its private…

Learn how Poloniex was exploited, resulting in a loss of assets worth over $123 million. — TL;DR On November 10, 2023, the hot wallet of Poloniex was exploited, resulting in a loss of assets worth over $123 million. Introduction to Poloniex Poloniex is a cryptocurrency exchange owned by Justin Sun. Vulnerability Assessment The root cause of the exploit is reportedly due to the compromise of its private keys.

An article explaining why Visa chose the Solana chain for testing stablecoin settlement. — Visa is one of the world’s largest payment processing companies, handling over 240 billion transactions annually. The company has been closely following developments in the blockchain space and has recently announced a partnership with Solana to test the use of stablecoins for settlement. Blockchain technology has the potential to revolutionize…