On Thursday, Jump Crypto, a crypto venture capital firm that owns Certus One, the developer of the Wormhole token bridge, announced it had deposited 120 thousand Ether (ETH) into a Solana-Ethereum bridge that suffered a devastating exploit. The day prior, hackers fraudulently minted 120 thousand wrapped Ether (wETH) worth $321 million on the Solana (SOL) platform, then redeemed 93,750 wETH for ETH on the Ethereum network while swapping the rest for other altcoins on the Solana network. The cross-chain ETH-wETH is supposed to have an exchange ratio of 1:1 against one another. Therefore, unauthorized minting of wETH leads to significant …
“The Market Report” with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts discuss the best altcoins to buy for under $3. But first, market expert Marcel Pechman carefully examines the Bitcoin (BTC) and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down. Next up: the main event. Join Cointelegraph analysts Benton Yaun, Jordan Finneseth and Sam Bourgi as they discuss the best altcoins to buy for under $3. First up, we have Bourgi with his first pick of …
A decentralized finance protocol has launched its mainnet — describing it as a crucial step on the journey to a frictionless financial future. Radix, which describes itself as a platform for smart money, is also launching Instapass with its Olympia mainnet — an optional user and developer service that delivers the world’s first single sign-on solution for building compliant DeFi. The Radix mainnet is being positioned as a generational improvement in the history of decentralized ledger computing — and one that delivers 100 times more executional efficiency than the Ethereum Virtual Machine. This comes hot on the heels of the …
Klaytn, the blockchain project of South Korean tech giant Kakao, has partnered up with NFT marketplace OpenSea to bring a nonfungible token market to its platform. Klaytn is a smart contract platform developed by Kakao’s blockchain wing, Ground X, which will develop its own NFTs and offer them on OpenSea by the end of June, according to a recent announcement. The dollar value of NFT transactions has exceeded $500 million since the turn of the year when the technology received renewed attention following a string of high-profile purchases by celebrities. While NFT tech can be applied to a number of …
If all goes to plan, Wrapped XRP (wXRP) will be coming to the Ethereum (ETH) blockchain next month, courtesy of Wrapped.com. The move is meant to enable XRP holders to interact with aspects of decentralized finance, or DeFi, such as executing smart contracts for use in borrowing and lending, swapping for altcoins, via their native tokens. Currently, the network can only handle sending, receiving, and holding XRP. Wrapped tokens are digital currencies stored in a digital vault and run on a separate blockchain. Notable wrapped tokens include Wrapped Bitcoin, which operates on the Ethereum blockchain, and Wrapped Ethereum, which converts …