News Formal

Losses from crypto rug pulls outpaced DeFi exploits in May: Finance Redefined

  • 📰 Cointelegraph
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 51%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Rugpulls became the biggest source for fund exploitation in DeFi, outpacing other exploits in May.

decentralized finance May was a month filled with exit scams in the DeFi world, with over $45 million lost to exit scams, while exploits on DeFi protocols racked up less than half that amount over the same period.

Jimbos Protocol has offered an $800,000 bounty to the public as talks with the hacker failed. The protocol’s team extended the bounty offer to the public, inviting anyone who could help catch the exploiter or recover the funds to claim the reward. The Fantom network has started paying developers to generate gas fees, and another popular DeFi protocol, PancakeSwap, has entered the GameFi space.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 562. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Dollar may quickly recover yesterday's losses on a strong labor market report – CommerzbankThe focus of the FX market is today aimed at the May labor market report. Esther Reichelt, FX Analyst at Commerzbank, believes that the US Dollar coul
Source: FXStreetNews - 🏆 14. / 72 Read more »