Attackers Drain Millions From Cover Protocol, Token Holders Attack Compensation Plan

Attackers Drain Millions From Cover Protocol, Token Holders Attack Compensation PlanDecentralized finance insurance project Cover protocol briefly suffered losses when an unknown attacker minted over 40 quintillion Cover tokens. However, after successfully cashing out tokens worth about $5 million, the attacker unexpectedly returned ether tokens valued at about $3.2 million before leaving a message for the Cover team. Exploit No Longer Possible Immediately after the […]

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Sharktron Defi Project Devs Exit Scam: Tron Foundation Says Part of Missing Funds Now Frozen

Sharktron Defi Project Devs Exit Scam: Tron Foundation Says Part of Missing Funds Now FrozenDevelopers of the Sharktron defi project have exit scammed with reports suggesting that TRX tokens worth up to $10 million are missing. The Tron Foundation has confirmed the theft, but is quick to inform Sharktron token holders that a portion of the missing funds has been frozen. The exit scam comes a few weeks after […]

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Decentralized Exchanges That Use Automated Market Makers Now Represent 93% of the Market

A recent report by Consensys says the surge in decentralized exchange (DEX) volumes in Q3 of 2020 is down to their adoption of the automated market maker (AMM). According to the report, DEXs that use AMM, a software that algorithmically creates token trading pairs, now represent 93% of the market. The good side of AMMs […]

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Centralized Exchange Operators Believe Low Liquidity on DEX Platforms Stops User Migration

Centralized Exchange Operators Believe Low Liquidity on DEX Platforms Stops User MigrationCentralized cryptocurrency exchanges (CEX) operators say they are unfazed by the increasing trading volumes on decentralized exchanges (DEX) because the latter’s liquidity is still too insignificant to cause user mass migration. The majority of CEX operators also insist that it is very unlikely the DEXs’ liquidity would surpass their own liquidity in 2 years’ time. […]

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Q3 Crypto Volumes up by $155 Billion as Defi Hype Drives DEX Growth by 197%

Q3 Crypto Volumes up by $155 Billion as Defi Hype Drives DEX Growth by 197%The latest data from Coingecko shows that the combined trading volumes of cryptocurrency exchanges went up by $155 billion between July and September, from $175.7 billion to $330.6 billion. The new total volume represents a 88% increase which Coingecko attributes to the decentralized finance (defi) hype and yield farming frenzy that peaked in August. In […]

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ETH Volumes Top $119.5 Billion in Q3: High-Risk Dapps Dominate Tron Network

ETH Volumes Top $125 Billion in Q3: High-Risk Dapps Dominate Tron NetworkA recent report says total Dapps transaction volumes reached $125 Billion in Q3 2020, a figure which is $113 billion higher than in Q2 2020. From these volumes, the Ethereum blockchain accounts for 96% or $119.5 billion of the total created value with the majority of this being attributed to the DeFi ecosystem. Still, the […]

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