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DeFi
DeFi, short for decentralized finance, represents a shift in the financial sector by leveraging blockchain technology, primarily Ethereum, to eliminate traditional financial intermediaries. It enables various financial applications, from simple transactions to complex contracts, through smart contracts that execute automatically under specific conditions. Key DeFi applications include decentralized exchanges (DEXs), stablecoins, lending platforms, and prediction markets. DeFi offers financial services like loans and interest-earning opportunities without traditional identity verification, relying instead on collateral, usually in cryptocurrency. This innovative sector promises increased accessibility and efficiency but comes with risks, such as market volatility and unregulated projects.
2022 Crypto Attacks Were Least in December, With $62M Lost in Heists, Certik Says
However, the blockchain audit firm noted some $3.7 billion was lost to scams and hacks in 2022, making it the worst year to date for nefarious activities in the market’s history.
Defrost Finance Denies Rug Pull Allegations Amid $12M Exploit
The group says it’s retrieved all the funds after offering a bounty to the hacker.
DeFi Platforms Need to Beef Up Security, Former Prosecutor Says
Ari Redbord, who now works at crypto sleuthing firm TRM Labs, says attackers are becoming more sophisticated.
Alameda Research Liquidates Ethereum-Based Token Holdings for Bitcoin
Data from Arkham Intelligence indicated that $1.7 million worth of the tokens was sold.
Mango Markets Exploiter Faces Fraud Charges, Filing Reveals
Court documents reveal Avraham Eisenberg, the crypto investor whose “highly profitable trading strategy” drained decentralized finance (DeFi) trading platform Mango Markets of crypto worth $110 million, was arrested Monday in Puerto Rico. "The Hash" panel discusses the details.
Mango Markets Exploiter Arrested in Puerto Rico on Fraud Charges
Avraham Eisenberg, the crypto investor who drained DeFi trading platform Mango Markets of crypto worth $110 million, was arrested Monday in Puerto Rico on charges of commodities fraud and commodities manipulation. CoinDesk Global Policy & Regulation Managing Editor Nikhilesh De discusses what we know so far.
Crypto Investment Firm Midas Shutting Down Platform Following Losses
The collapse of Celsius Network and FTX led to more than 60% of Midas’ assets under management being withdrawn.
Defrost Finance Says Hacked Funds Have Been Returned
The hack, which some observers had characterized as a rug pull, was estimated to have netted $12 million.
Defrost Finance Hacked in Attack Some Say May Have Been a Rug Pull
The total value of funds locked on the protocol had dropped to less $93,000 on Sunday from about $13 million, Defi Llama data shows.
DeFi Derivatives Trading Has Untapped Potential
If we learn to read the markets, make smart use of the data at our disposal and overcome a few speed bumps along the way, options will certainly drive the next era of DeFi to higher highs than ever before.
