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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.
Largest Hack in DeFi History, ADA Hits Two-Month High
Poly Network suffers the largest hack in DeFi history. Small and mid-sized miners suffer in China exodus, and Cardano’s ADA hits a two-month high. We’ll have more on that story and other news shaping the cryptocurrency and blockchain world in this episode of “The Daily Forkast.”
Poly Network Prepares for Hacker to Return Millions in Stolen Crypto
The hacker who stole potentially $600 million from Poly Network asked for a multisig wallet to return the funds.
Market Wrap: Bitcoin Slips as Infrastructure Bill With Crypto Tax Provision Heads to House
Bitcoin pulled back as traders digest regulatory developments in the U.S.
Crypto Panhandlers Beg Poly Network Attacker for Share of $613M Haul
First came the attack. Then came the moochers.
NFTs Over DeFi: OpenSea Just Overtook Uniswap on Ethereum Usage
Are NFTs back? Non-fungible token (NFT) marketplace OpenSea topped the leaderboard in gas consumption on the Ethereum blockchain, surpassing Ethereum's largest decentralized finance (DeFi) exchange Uniswap. Since last year, Uniswap has typically commanded the top spot. "The Hash" team discusses the industry implications for the rare flippening event and what it means for ether.
Largest Hack in Crypto History? $600M in Crypto Potentially Stolen From DeFi Platform Poly Network
Cross-chain decentralized finance (DeFi) platform Poly Network was attacked on Tuesday, with the alleged hacker draining roughly $600 million in crypto. This figure would place the Poly Network hack among the largest in crypto history. “The Hash” hosts discuss the implications for DeFi regulation amid U.S. lawmakers reining in on the digital asset sector.
DeFi Has Accounted for Over 75% of Crypto Hacks in 2021
That works out to $361 million, 2.7 times more than in 2020, according to new report by CipherTrace.
Cross-Chain DeFi Site Poly Network Hacked; Hundreds of Millions Potentially Lost
DeFi platform Poly Network was attacked on Tuesday, with the alleged hacker draining roughly $600 million in crypto.
State of Crypto: What Just Happened in the US Senate?
After all the drama of the past week, the industry is right where it was eight days ago.
Ether Held on Centralized Exchanges Hits 3-Year Low
Only 9.4% of ether is held in centralized exchanges, the least since 2018.
