Lending protocol Sonne Finance was forced to suspend operations after a hack took $20 million worth of cryptocurrency off the market.May 14, around 10:30 PM (UTC) Web3 security company Cybers detected Ongoing attacks on Sonne Finance’s USD Coin (USDC) and Wrapped Ether (WETH) contracts. However, by the time Sonne Finance became aware of the situation 25 minutes later, hackers had already stolen $20 million from WETH, Velo (VELO), soVELO and Wrapped USDC (USDC.e).source: Sonne FinanceAt 12:11 AM UTC on May 15, Sonne Finance announced on X that “all markets on Optimism have been paused.” Soon after, the protocol alliance We…
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It’s now been over a month since that fact came to light. Uniswap UNI +3.31% The research institute The Wells notice indicates that the U.S. Securities and Exchange Commission plans to prosecute the developer of the largest decentralized exchange.Many thought this was the real start of the “war on DeFi.” This is because it is the first case filed against a major DeFi platform. It’s no secret that the SEC has a negative view of cryptocurrencies, but its previous high-profile targets have typically been centralized institutions.The SEC has not slowed down the cryptocurrency rampage since it most recently sent Wells…
In a significant move to integrate with global financial regulation, Turkey has introduced a draft bill to amend its cryptocurrency legislation. The bill, submitted to parliament on May 16, seeks to bring Turkey’s cryptocurrency regulation in line with international standards, primarily focusing on the licensing, registration and operating framework of cryptocurrency asset service providers.Strategic Overview of Türkiye’s Draft Cryptocurrency LegislationThe draft bill is designed to strengthen consumer protection, increase transparency for cryptocurrency platforms, and ensure that all cryptocurrency-related activities comply with strict financial regulations. The proposed law requires all cryptocurrency trading platforms and other service providers in the sector to…
Blockstream’s lead Lightning developer Rusty Russell is leading an ambitious initiative known as the Bitcoin Script Restoration Project. This effort aims to restore and expand the functionality of the Bitcoin Script Language, which was severely limited in the early days of Bitcoin due to security concerns. In a recent interview with Bitcoin Magazine, Russell detailed the project’s goals and its potential for Bitcoin’s future.Rusty Russell and the Great Bitcoin Script Restoration Project (22:45) Looking back: Why OpCode was disabledWhen Bitcoin first launched, the scripting language included a variety of opcodes that enabled complex programming functions. However, many of these opcodes…
Quantum Computing Impact on BlockchainIn the latest Ripple Insights series, Professor Massimiliano Sala, renowned mathematics professor at the University of Trento, shares expert insights on the rapidly evolving intersection of blockchain and quantum computing. Sala’s expertise in cryptography and his work with the Italian National Association for Cryptography Research and Research gives him a unique perspective on the quantum challenges facing blockchain technologies, including the XRP Ledger.Blockchain SecurityProfessor Sala highlights the significant vulnerabilities that quantum computing poses to blockchain security. He explains that quantum computers could potentially undermine the digital signature mechanisms that protect user…
Solana Meme Coin Penguiana Achieves Soft Cap by Raising Over 1500 SOL in Presale, P2E Game Demo Set to Release Next Month – Chainwire housenewsroomSolana Meme Coin Penguiana Reaches Soft Cap, Raising Over 1500 SOL in Presale, P2E Game Demo Set to Release Next Month We use cookies to make Chainwire’s website a better experience. Cookies help us provide you with a more personalized experience, relevant advertising and provide us with web analytics. Technical storage or access is strictly necessary for the legitimate purpose of enabling the use of specific services explicitly requested by the subscriber or user,…
Our privacy policy, Terms of Use, cookie, and Do Not Sell My Personal Information has been updated.CoinDesk is award-winning Media outlets covering the cryptocurrency industry. Journalists must: Strict editorial policy. November 2023CoinDesk Acquisition Owner of Bullish Group stress, Regulated digital asset exchange. Bullish Group is majority-owned by: Block One; both companies understanding It has various blockchain and digital asset businesses and a significant portion of digital assets, including Bitcoin. CoinDesk operates as an independent subsidiary with an editorial board to protect journalistic independence. CoinDesk employees, including journalists, may receive options from the Bullish group as part of their compensation.
The FLOKI Coin community has decided to burn $3.2 million worth of FLOKI tokens. FLOKI was briefly ranked as the #1 altcoin due to its combination of social and trading activity. Analysts have marked a bullish pennant for FLOKI, reinforcing new all-time high expectations. A new proposal from FLOKI’s Decentralized Autonomous Organization (DAO) proposes burning 15,246,000,000 excess FLOKI tokens. The Floki incineration proposal quickly gained traction among community members, who voted almost unanimously to implement it.According to the results, 99.84% of voters agreed to burn 15.2 billion Floki coins. This is because this proposal outlines three previous burns initiated by…
Cryptocurrency exchange Kraken is “actively considering” whether to delist the stablecoin Tether. USDT +0.0058% ) Bloomberg in the European market report. The move, which the company is still considering, would end support for Tether on the exchange’s European platform following MiCA approval. Marcus Hughes, head of global regulatory strategy at Kraken, told Bloomberg: “Exchanges are absolutely planning for every contingency, including the inability to list certain tokens like USDT.” “This is something we are considering,” he added. Hughes added that the company will make a final decision “once the position becomes clearer.” When The Block reached out to Kraken for…
Polkadot (DOT) Cryptocurrency analysts have garnered attention by presenting a bullish story about crypto assets. one of them Cryptocurrency expert Michael van de PoppeI believe Polkadot could rise up to $25. In this bull market. Polkadot could reach $25 in the next phase. Michael van de Poppe Mentioned in X (formerly Twitter) post Polkadot’s next rally is expected to take it between $20 and $25. He explained that the cryptocurrency token has seen significant corrections over the past few months but has shown ample strength by returning to pre-rally levels. The analyst also claimed that Polkadot had hit bottom “especially…