(Insert Meme Here: Something like the "This is fine" dog meme, but with the dog wearing a crypto beanie and surrounded by burning DeFi logos)Okay, let's be real. Another month, another DeFi disaster. Since April, $92 million has disappeared into the digital ether, according to bug-bounty platform Immunefi. That's a...
Alright, let's talk. Another month, another multi-million dollar hack. That’s $92 million of your money lost, poof, disappeared into the ether like so many pledges from starry-eyed DeFi proselytizers. We're not talking about pocket change here. This wasn’t some fly-by-night scam artist. This is no ordinary caper, this is a...
So, there you have it, another day, another DeFi platform goes kaput. This time it’s Loopscale, previously known as Bridgesplit – ring any bells? The new lending app, incubated by Solana Labs and Coinbase Ventures to disrupt the future of lending. All of this they are accomplishing with their new...
The DeFi space has seen its share of hacks. Now, the recent $5.8 million exploit of Loopscale is drawing a bright red circle around the critical issue of security. The Palumbo incident is worthy of greater scrutiny. It presents an opportunity to explore the inadequacies in the DeFi ecosystem and...
Loopscale, a decentralized finance (DeFi) protocol from Solana, was attacked this week to the tune of $1.2 million. The platform suffered a security breach that resulted in the direct loss of over $5.8 million. This incident represented a loss of about 12% of its Total Value Locked (TVL). This event...
Meanwhile, Loopscale — a DeFi lending protocol on Solana — has taken a six-figure hit. On April 26th, $5.8 million disappeared, consisting of 5.7 million USDC and 1200 SOL. Ouch. Undercollateralized loans were the attacker’s weapon of choice. Lending markets are currently paused, however, even though some functions have restored....
Think of the XRP Ledger as a long lost, dusty, run down saloon in the worldwide digital Wild West. Tumbleweeds of code roll across the screen, and brushy figures in low-res ten-gallon hats hang out on the periphery. Then, BAM! A bank robbery. Only instead of gold, they’re stealing your...
