On Tuesday, a LiFi bridging protocol was exploited for over $8 million, with attackers targeting specific accounts. The platform urged users not to interact with LiFi-based applications. The prevalence of cyberattacks remains a major threat to the industry, and those involved must remain constantly vigilant to avoid becoming a victim. LiFi Protocol Hacked for Over $8 Million The LiFi protocol confirmed the attack in a post on X, urging users not to interact with LiFi-based applications. According to the report, the hackers targeted accounts with a manual “infinite authorization” setting. “Please do not interact with LiFi-based applications for the time…
Author: Crypto Flexs
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Based on CoinGecko’s website traffic, the most popular stories in Q2 2024 were Mimecoin, Real Assets (RWA), and AI.CoinGecko released its latest cryptocurrency industry report on July 16, outlining key milestones and events in the cryptocurrency market for Q2 2024.According to CoinGecko data, MemeCoin, RWA, and AI were the top three narratives in Q2 2023, accounting for 36% of all CoinGecko web traffic categories during the quarter. As the report shows, the share is similar to Q1 2024.Memecoin to Dominate Cryptocurrency Talk in Q2 2024Memecoins, cryptocurrencies inspired by internet memes or trends, topped CoinGecko’s Crypto Narrative Chart, making up 14%…
Bridge • July 16, 2024 10:17 AM EDT Posted 1 minute earlier In ~ The cross-chain blockchain protocol LI.FI has been exploited, the team revealed on social media platform X. The team is investigating the potential hack, which appears to only affect users who have manually enabled certain features.“Do not interact with LI.FI-based applications at this time,” the LI.FI team wrote. “We are investigating a potential exploit. Unless you have set up infinite permissions, you are not at risk.””(W)e urge all users to immediately revoke use of our selected website,” LI.FI wrote, adding, “Four additional security breaches have been confirmed.”…
Felix Pinkston July 16, 2024 12:13 Binance is introducing a promotion for PEPE Easy Earning Flexible product, offering a bonus tiered APR of up to 8% during the promotion period. Binance has announced a new promotion for its Simple Earn platform, specifically targeting Pepe (PEPE) Flexible Products. According to Binance, users who subscribe to these products during the promotion period will be able to enjoy exclusive Bonus Tiered APR benefits of up to 8% in addition to Real-Time APR rewards. Promotion Details The promotion period is from 00:00 UTC on July 16, 2024 to…
Felix Pinkston July 16, 2024 12:13 Binance is introducing a promotion for PEPE Easy Earning Flexible product, offering a bonus tiered APR of up to 8% during the promotion period. Binance has announced a new promotion for its Simple Earn platform, specifically targeting Pepe (PEPE) Flexible Products. According to Binance, users who subscribe to these products during the promotion period will be able to enjoy exclusive Bonus Tiered APR benefits of up to 8% in addition to Real-Time APR rewards. Promotion Details The promotion period is from 00:00 UTC on July 16, 2024 to…
Ted Hisokawa July 16, 2024 12:47 According to CoinGecko’s Q2 2024 report, the cryptocurrency market is set to drop 14.4% due to the Bitcoin halving, a decrease in mining hashrate, and changes in trading volume. According to CoinGecko’s latest report, the second quarter of 2024 saw significant changes in the cryptocurrency landscape. While price action was subdued, the period was marked by notable developments, including Bitcoin’s anticipated fourth halving and fluctuations in trading volumes on both centralized and decentralized exchanges. Total cryptocurrency market cap in Q2 2024 drops by -14.4% Total cryptocurrency market capitalization…
SEC Classifies Chiliz, Polygon, Terra Luna Classic as Securities in New Filings SEC ramps up crackdown on DeFi, targeting MetaMask developer Consensys The Ethereum ETF approval in May signals a shift in the SEC’s stance on alternative assets. In leaked court documents, the Securities and Exchange Commission (SEC) explains why it is cracking down on several cryptocurrencies, including Polygon (MATIC), Terra Luna Classic (LUNC), The Sandbox (SAND), Decentraland (MANA), and Chiliz (CHZ).Chiles, Matić Under Scrutiny by SECThe SEC believes that these cryptocurrencies were originally offered to investors as investment contracts, which gave rise to the companies associated with the tokens.…
Cryptocurrency exchange Kraken has received a transfer of two Bitcoins and one Bitcoin Cash from the Mt. Gox Rehabilitation Trustee, according to a Telegram group of lenders.“MtGox administrators made two transfers. Bitcoin +1.82% & BCC -1.45% ) to the Kraken exchange. The exact amount is TBC. However, Kraken has already Group member “Gio” wrote: “Email from MtGox custodian receiving bondholder funds.”According to a screenshot posted to Telegram, Kraken wrote in the email, “We have successfully received the bondholder funds (BTC and BCH) from the Mt. Gox Trustee.” “We will endeavor to distribute the funds as soon as possible, but please…
The assassination attempt on former President Donald Trump at a rally in Pennsylvania on Saturday sent his chances of winning the presidency soaring. Presidential electionAccording to cryptocurrency prediction market Polymarket, recent report According to Fortune, while traditional polls might yield different results, Polymarket and PredictIt found a noticeable shift in odds following the event. Cryptocurrency Industry Rebounds as Trump’s Election Chances Increase Prediction or betting markets provide a platform for traders to exchange contracts based on uncertain future events. The prices of these contracts effectively act as odds, reflecting the collective expectations of market participants. In this sense, Polymarket’s prediction…
Terryl Dickey July 16, 2024 10:48 Explore the complex world of re-staking with a detailed analysis of the risks and rewards across the Ethereum and Cosmos ecosystems. The world of blockchain technology continues to evolve, and restaking is emerging as a key concept for enhancing security across multiple networks. According to Galaxy.com, restaking aims to build a more integrated and efficient security system by leveraging the economic and computational resources of one blockchain to secure multiple blockchains. This in-depth report is the second in a three-part series exploring the dynamics of staking, restaking, and…