DeFi Protocol Convergence hit by major hack, CVG token collapses
Decentralized governance hedge fund platform Convergence exploited. 58M CVG tokens minted and swapped. CVG token value plunged 99% from $0.12 to $0.0004 following the hack. On Thursday, the decentralized finance…
Social Infrastructure OpenSocial Protocol receives $6 million strategic backing led by Framework Ventures and North Island Ventures to fuel community apps
Hong Kong, Hong Kong, 25th July 2024, Chainwire The post Social Infrastructure OpenSocial Protocol receives $6 million strategic backing led by Framework Ventures and North Island Ventures to fuel community…
LiFi Protocol loses over $8M in a cyberattack
LiFi Protocol has been breached and $8M have been drained so far. Cyvers Alerts advises revoking approvals for 0x1231deb6f5749ef6ce6943a275a1d3e7486f4eae. Attackers are converting USDC and USDT to ETH, emphasizing DeFi security…
DeFi protocol Pendle sees 40% drop in TVL
Pendle TVL has dropped sharply over the past week, from $6.2 billion to $3.7 billion. Meanwhile, PENDLE price is down 16% in the same period. Pendle, the yield tokenization protocol…
Light Protocol and Helius Labs launch ZK Compression on Solana to reduce storage costs
The ZK Compression uses zero-knowledge proofs for data compression. The ZK Compression slashes Solana on-chain storage costs by 99%. The ZK Compression operates as an integrated L1 solution, avoiding typical…
Morpho becomes first L2 protocol to launch on Base
Morpho is the first Layer 2 protocol to launch on Coinbase’s Base. Morpho has introduced MetaMorpho Vaults and Morpho Markets on Base, boosting yield and borrowing options. Morpho’s CEO, Paul…
Uniswap delays protocol upgrade vote; UNI price falls 9%
The Uniswap Foundation announced a delay to an upgrade vote on the protocol’s fee mechanism. UNI price reacted lower, declining 9% to hit lows of $10.17. The Uniswap Foundation has…
Grayscale launches investments trusts for Stacks and Near Protocol
Grayscale announced trusts for Near Protocol and Stacks. Crypto market is upbeat ahead of a potentially huge announcement from the SEC on spot Ethereum ETF. Grayscale Investments has announced two…
Solana memecoin protocol pump.fun exploit mastermind arrested in London
Jarett Dunn, aka @STACCoverflow, arrested in London for Solana memecoin exploit. Dunn used flash loans to manipulate pump.fun, stealing $2 million in liquidity. Released on bail, Dunn confessed online, citing…
Humanity Protocol raises $30M for palm-based digital identity
Humanity Protocol has secured $30M for its palm scan identity verification project. Palm scan tech offers secure, decentralized identity verification, disrupting traditional methods. Competition intensifies in the digital identity space…