Impossible Finance, a Defi protocol built on Binance Smart Chain, has completed a $7 million seed funding round backed by over 125 institutional and angel investors — with the funds going towards the development of a multi chain DeFi incubator. The seed round was led by venture capital firm True Ventures, and quantitative investment firm Alameda Research, blockchain development firm Hashed and investment firm CMS Holdings. Impossible Finance was launched on BSC on April 9, and the protocol currently offers DeFi investors token swaps, liquidity pools, and staking rewards through the Impossible Finance (IF) token The new funding will go …
Uber is a staple of the gig economy, for better or worse, and a disruptor that once sent shockwaves throughout the mobility space. Now, however, Uber is being taken for a ride. The company is handling a reportedly far-reaching cybersecurity breach. According to the ride-hailing giant, the attacker has not been able to access sensitive user data, or at least, there is no evidence to suggest otherwise. Whether or not sensitive user data was exposed, this case points to a persistent issue with today’s apps. Can we continue to sacrifice our data — and thereby our privacy and security — …
A $5 million hack of Ankr protocol on Dec. 1 was caused by a former team member, according to a Dec. 20 announcement from the Ankr team. The ex-employee conducted a “supply chain attack” by putting malicious code into a package of future updates to the team’s internal software. Once this software was updated, the malicious code created a security vulnerability that allowed the attacker to steal the team’s deployer key from the company’s server. After Action Report: Our Findings From the aBNBc Token Exploit We just released a new blog post that goes in-depth about this: https://t.co/fyagjhODNG A pic.twitter.com/d6psUbpxNY …
The team behind the Raydium decentralized exchange (DEX) has announced details as to how the hack of Dec. 16 occurred and offered a proposal to compensate victims. According to an official forum post from the team, the hacker was able to make off with over $2 million in crypto loot by exploiting a vulnerability in the DEX’s smart contracts that allowed entire liquidity pools to be withdrawn by admins, despite existing protections being to prevent such behavior. The team will use its own unlocked tokens to compensate victims who lost Raydium tokens, also known as RAY. However, the developer does …
Aside from the bullish crypto market rally in January, there’s been more positive industry news as the month saw a decline in losses from exploits compared to the same time last year. According to data from blockchain security firm PeckShield on Jan. 31, there were $8.8 million in losses from crypto exploits in January. There were 24 exploits over the month, with $2.6 million worth of crypto being sent to mixers such as Tornado Cash. The breakdown of assets sent to mixers includes 1,200 Ether (ETH) and around 2,668 BNB (BNB). The January figures are 92.7% lower than the $121.4 …