Despite not being more than halfway through the month, Chainalysis said 11 different hacks on DeFi protocols had seen hundreds of millions exploited.from Solana DeFi platform Mango Markets via a price feed exploit, the hacker responsible for the attack demanded a settlement. The proposal was filed on the Mango Markets decentralized autonomous organization governance forum.
If passed, the procedure would involve the hacker sending stolen MNGO, SOL and Marinade Staked SOL tokens to an address provided by the Mango DAO team. Users without bad debt will be remade whole. However, the hacker demands that any bad debt be viewed as a bug bounty and insurance to be paid out via the community treasury worth 70 million USDC, or $70 million.Crypto Twitter was shocked by reports claiming Decentraland, a $1.
According to an Oct. 13 tweet by Johnny_TVL, a Messari analyst and co-author of “The State of Maker Q3 2022,” the decentralized autonomous organization saw its revenue plunge to just over $4 million in Q3, down 86% from the previous quarter.Analytical data reveals that DeFi’s total value registered another dip, with the TVL value falling to $50 billion at the time of writing.
Maker continued its bullish momentum into the second week of October, registering a 10. 78% gain over the past seven days. No other DeFi token in top-100 was trading in the green on the weekly chart. Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education in this dynamically advancing space.
losslessdefi 🤯🔥🫶🏻
So this exactly why there is a world of difference between Crypto and Bitcoin. POS and centralised systems/exchanges can and will be hacked. Holding your own BTC private keys on an ever expanding POW network is safe, simple and secure. If you want to keep it, use Bitcoin.
A huge chunk of this was that massive hack on BNB chain
bitcoin has still yet to be hacked.
I’m just glad that my savings are fine on bfx.