A security vulnerability in Ledger’s Connector library has led to a major security breach in the crypto community. Attackers were able to replace a genuine version of the library with a malicious file, resulting in the compromise of several decentralized applications (dApps) and the theft of over $500,000 from multiple wallets.The incident occurred after a […]
The Department of Justice (DOJ) has recently targeted four individuals involved in an $80 million cryptocurrency investment scam. The scheme involved laundering over $20 million through shell companies. The indictment highlights the extent of the scam and the significant amount of money involved.The DOJ’s action against these scammers demonstrates their commitment to combating fraudulent activities […]
The Financial Conduct Authority (FCA), the financial regulator in the United Kingdom, has released a minute-long animated video to educate investors about its marketing rules for cryptocurrency firms. The video, presented in the style of a pixelated Wild West cartoon, aims to explain how to assess whether crypto companies comply with the FCA’s marketing regulations.The […]
Gemini Earn users may only receive 61% of their crypto investments, according to a reorganization plan from Genesis, a defunct crypto lender. The plan has caused outrage among users, with some calling it “brutal.” The complexity of the 374-page document has also been criticized, as many users may require assistance to understand it. The promised […]
In a recent setback for Yearn.finance, a scripting error has resulted in a loss of $1.4 million from its treasury. The error occurred during the conversion of Yearn’s yVault LP-yCurve tokens into stablecoins on the decentralized exchange CowSwap. Due to an oversight in handling treasury funds, the entire treasury balance, including fees, was inadvertently transferred […]
Gemini Earn creditors are expressing frustration over a proposed reorganization plan that could significantly reduce their expected Bitcoin payouts. The plan, outlined in an email sent by Gemini Trust on December 13, suggests that creditors will receive a payout equal to their Earn crypto balances as of January 19, 2023, the date when Genesis Global […]
Decentralized finance protocol Yearn.finance has experienced a significant loss of funds due to a scripting error. The error caused the protocol’s treasury balance of lp-yCRVv2 tokens to be swapped, resulting in a loss of approximately $1.4 million. The error occurred during the conversion of yVault LP-yCurve tokens into stablecoins on decentralized exchange CowSwap. Yearn Finance […]
Loyal readers of The Protocol will recall our riff in last week’s issue, headlined “Bitcoin Censorship, or Just ‘Spam Filtering?’” The gist of the story is that some Bitcoin purists are trying to keep the oldest and largest blockchain free from non-financial transactions – such as the text snippets and images that some people are […]
On December 13, OKX decentralized exchange (DEX) experienced a significant hack, resulting in a loss of $2.7 million. The breach occurred due to a leaked private key of the proxy admin owner. Unlike previous attacks on exchanges, this incident involved stealing the credentials needed to access the exchange’s wallets, where funds were held in escrow […]
The recent Israel-Gaza war has sparked a renewed push for stricter regulation of the crypto market in the United States. Senator Elizabeth Warren and her colleague Roger Marshall have written a letter to the president, urging for stronger measures to combat the alleged use of crypto by groups like Hamas to raise funds and evade […]
