Some Blockfolio users received shocking messages from the app on Tuesday in what has now been confirmed as a breach of the platform’s signal feed. The hackers responsible for the breach sent racist and offensive messages, threatening them to withdraw their funds or risk losing their deposits. Responding to the matter, Blockfolio released a tweet apologizing for the incident while assuring users of the safety of their funds. According to Blockfolio, the breach only affected the signal submitter protocols and not the actual trading environment. The platform also promised to credit all trading feature-enabled users with $10 as well as …

Solana has announced an upcoming DeFi hackathon offering $200,000 in seed funding from the Solana Foundation. The hackathon, which is scheduled to take place from Feb. 15 through March 1st, will be hosted in partnership with Sam Bankman-Fried of FTX’s Project Serum. Bankman-Fried will also offer mentorship to hackathon participants alongside Solana CEO Anatoly Yakovenko. Bankman-Fried stated: “A lot of an ecosystem's success depends on how much the community builds on it. I've been really happy with the growth of Solana so far building out the world's fastest, most scalable on-chain ecosystem; I'm excited to see some projects come to …

FTX is a cryptocurrency derivatives exchange backed by Alameda Research, a quantitative trading firm and crypto liquidity provider. The exchange launched in April 2019 and offered the usual spot trading, inverse swaps and futures contracts that can be found at other major platforms. By early 2020, the exchange launched its daily and weekly binary BTC options markets. FTT is the exchange’s native token and it’s issued on the Ethereum blockchain. FTT stakers are granted a trading fee discount based on a tiered system and other benefits include bonus votes in their polls and increased airdrop rewards. The first airdrop took …

Leading offline mapping application Maps.me has conducted a $50 million fundraising round to embed decentralized finance tools onto its platform. The funding round for “Maps.me 2.0” was led by Sam Bankman-Fried of Alameda Research and also featured participation from crypto venture heavyweights CMS Holdings and Genesis Capital. Maps.me 2.0 will be a wide-ranging application, featuring travel guides, hotel bookings and mapping services, in addition to exchange features and a multi-currency crypto-asset wallet offering annual yields of up to 8%. Alex Grebnev, the co-founder of Maps.me 2.0, told Cointelegraph that users will be able to "generate yield on their savings by …

The high-risk environment around the decentralized finance space and hype for one of its latest offerings, SushiSwap, raises an analogy with a Japanese delicacy called fugu, or pufferfish, which is said to be more deadly than cyanide. Highly trained chefs have been serving up fugu in Japan’s top restaurants for decades, balancing the lives of their customers on the edges of their Yanagiba knives. Any slight error could fatally poison the diner. As such, the cryptocurrency community now also has a proverbial fugu of the DeFi world. In a short space of time, the carbon copy of the popular Uniswap …