Dev says $31 million Meerkat Finance exploit was a ‘test’; will return funds

There may be good news on the horizon for the victims of one of DeFi’s largest-ever exploits.  At 5:30 AM UTC today, a Meerkat Finance developer identifying themselves as “Jamboo” posted a short message in a newly-created Telegram channel, “Meerkatrefunds.” In it, Jamboo said that the exploit was a “trial” testing users’ greed and “subjectivity,” and that the team was preparing to refund all victims. Jamboo provided proof of their association with Meerkat by sending a small transaction from the Meerkat deployer, demonstrating that they have access to the exploited…

PAID Network exploiter nets $3 million in infinite mint attack

Paid Network, a DeFi platform aimed at real-world businesses, has been exploited today in an “infinite mint” attack that has sent PAID token prices plunging upwards of 85%. While the exploit netted nearly $180 million in PAID tokens at the time of the attack — what would have comfortably been the largest exploit of a DeFi protocol — the hacker’s payday will end up being far less. One observer noted that the attacker’s wallet only converted some of their tokens to wrapped ether, leaving the rest in rapidly-devaluing PAID tokens: …

Microstrategy Buys the Dip, Adds $10 Million Bitcoin 

Microstrategy has again bought the Bitcoin dip. This time, the firm is adding another $10 million to its treasury. Serial Bitcoin Buyers This is only the latest investment in Bitcoin for serial buyers MicroStrategy. While this one is less substantial than the $1 billion investment on Feb. 24, it sends a clear message: The bull market is far from over.  Saylor isn’t alone either. Though Microstrategy has been a catalyst for institutional investment, many companies, including Tesla, have begun to add BTC to their balance sheet. Some even regret not…

Crypto.com Has Introduced a $200 Million Startup Fund

Crypto.com has launched a $200 million fund for crypto startups, according to an announcement from the company. Crypto.com to date has offered an exchange and wallet, plus crypto cards and loans products. Now, the firm is expanding its horizons: after passing 10 million users, the company is looking for long-term partnerships with crypto entrepreneurs and businesses. That means Crypto.com will fund new cryptocurrency startups. It will issue cheques for seed rounds ranging from $100,000 to $3 million, and it will lead series A rounds ranging from $3 million to $10…

Binance Smart Chain DeFi Project Hacked for $31 Million

Key Takeaways A yield farming project on BSC has been hacked for $31 million. The website, twitter account, and telegram channel are all down, suggesting a rug pull by creators. The hackers are using DeFi avenues to move the stolen tokens. The DeFi news category was brought to you by Ampleforth, our preferred DeFi partner Share this article Vault 1 of the DeFi application Meerkat finance, a clone of  Yearn Finance on Binance Smart Chain, was drained for $31 million this morning.  Meerkat Finance Hackers Tinker With Smart Contract  The…

Badger DAO announces $21 million treasury diversification via VC partners

Some major venture capital names are ‘sett’ to join the Badger DAO community.  Bitcoin on Ethereum-focused decentralized finance (DeFi) protocol Badger DAO announced today a $21 million sale of DAO treasury assets to four major investors: Polychain Capital, Parafi Capital, Blockchain Capital, and noted whale wallet 0xB1. The sale was made as part of a wider “Treasury Diversification through Strategic Partnerships” plan first outlined in Badger Improvement Proposal (BIP) 37. The Badger treasury, currently worth over $600 million USD, is primarily allocated in $BADGER, the DAO’s native governance token, and…

MicroStrategy Adds Another $15 Million Bitcoin

Share this article MicroStrategy continues apeing into Bitcoin with another additional purchase of 328 Bitcoin at an average price of $45,710. World’s Largest Bitcoin Holding Company The recent purchase puts MicroStrategy’s Bitcoin count to 90,859 BTC, worth $4.36 billion. Since September last year, the firm has invested $2.186 billion in Bitcoin using its cash balance and raising debt. MicroStrategy’s CEO Micheal Saylor shared the SEC 8-K filing report, informing the shareholders about their investment decision. MicroStrategy has purchased an additional ~328 bitcoins for ~$15.0 million in cash at an average…

DeFi Tx Bundler Furucombo Hacked for $14 Million

Share this article Furucombo, a dApp focused on easily creating multi-step transactions for trading and DeFi without knowing how to code, just got compromised. At press time, a hacker managed to drain over $14 million of users’ funds. Furucombo, a dApp focused on easily creating multi-step transactions for trading and DeFi without knowing how to code, just got compromised. At the moment of writing, a hacker managed to drain over $14 million of users’ funds. The hacker compromised Furucombo’s proxy smart contract, which enabled them to withdraw ETH and ERC20…

Transaction batching protocol Furucombo suffers $14 million “evil contract” hack

The latest “evil contract” exploit has netted an attacker over $14 million in stolen funds.  Furucombo, a tool designed to help users “batch” transactions and interactions with multiple protocols at once, fell victim to the attack which centered on token approvals from users. The attacker’s address currently has $14 million is various cryptocurrencies, but the attack appears to be larger as they have been transferring ETH to privacy mixer Tornado Cash in batches over the last hour. This attack is conceptually similar to the $20 million “evil jar” attack that…

Despite GameStop Saga, Robinhood Added 3 Million New Crypto Users in February

Robinhood Crypto reported that it had added more than six million new crypto users in just two months. Robinhood Shakes Off GameStop Saga The popular trading app saw more than 3 million users join its crypto division in January and another 2.9 million in February this year. Last year, Robinhood added roughly 200,000 users per month on average, with a peak of  ~401,000 users per month. The average transaction size has also grown to ~$500 as well. Source: Robinhood At present, Robinhood Crypto offers trading in seven cryptocurrencies. These consist…