This week, Ethereum staking services have agreed to a 22% limit on all validators to ensure fair markets. August proved to be a costly month for DeFi as several protocols were collectively exploited for $16 million. Balancer protocol lost nearly $900,000 due to a vulnerability flagged months ago. Shibarium’s second launch proved more stable as the layer-2 protocol already has over 100,000 new wallets, and USD Coin is set to debut on Coinbase’s layer-2 platform later this week.The DeFi market had a late-week bearish decline due to an overall market fall after news dropped of a delay in the decision on approval of a spot Bitcoin’s spot exchange-traded fund (ETF). Most DeFi tokens traded in the red, and the total value locked in DeFi tokens remained below $50 billion.In August, $15.8 million in cryptocurrencies was lost in DeFi hacks and exploits, specifically. According to an Aug. 31 report by blockchain security firm Immunfi, a combined $23.4 million in crypto was lost to a combination of hacks, exploits and fraud, a significant decrease compared with the $320.5 million lost in July. All exploits consisted of attacks against DeFi protocols, and not a single incident affected centralized finance entities.Ethereum automated market maker and DeFi protocol Balancer was exploited for nearly $900,000, the company confirmed on X (formerly Twitter) on Aug. 27, just days after disclosing a vulnerability that affected several pools. An Ethereum address allegedly belonging to the attacker has been revealed by blockchain security expert Meier Dolev.Circle’s United States dollar stablecoin, USDC, will launch natively on the Base network “next week,” according to an Aug. 29 social media post from CEO Jeremy Allaire. The new version will replace the current USD Base Coin (USDbC) that most users rely on as a substitute.Shibarium, a new layer-2 network for the Shiba Inu token, has surpassed 100,000 wallets on its platform, with 35,000 coming within 24 hours of Shibarium’s relaunch on Aug. 28.Data from Cointelegraph Markets Pro and TradingView shows that DeFi’s top 100 tokens by market capitalization had a bearish week, with most tokens trading in the red on the weekly charts. The total value locked into DeFi protocols touched $49.25 billion. This week, Ethereum staking services agreed to a 22% limit on all validators to ensure fair markets. August saw $15.8 million in cryptocurrencies lost in DeFi hacks and exploits, and Balancer protocol was exploited for nearly $900,000. USD Coin is set to launch natively on Coinbase’s Base network, and Shibarium has surpassed 100,000 wallets. The DeFi market had a bearish decline, with most tokens trading in the red and the total value locked in DeFi tokens remaining below $50 billion.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 8 |
| People | Shytoshi Kusama, Superphiz, Diva Staking, Jeremy Allaire, Meier Dolev |
| Companies | Immunfi, Circle, Rocket Pool, Stader Labs, TradingView, Cointelegraph Markets Pro, StakeWise, Diva Staking, Coinbase, Shiba Inu |
| Currencies | Dai, USD Coin, Shiba Inu, Ethereum, Bitcoin |
| Securities | None |
