What The Kelp DAO’s $292 Million Hack Means For XRP Holders Earning Yield
A market expert has outlined a major security incident that occurred last weekend, explaining its implications for XRP holders earning yield. On Saturday, April 18, an attacker exploited the LayerZero-powered bridge of Kelp DAO, draining a staggering $292 million in tokens from the liquid staking protocol. So far, the incident marks the largest DeFi hack […]
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Wu Blockchain reports that Kelp DAO has suffered a massive cross-chain exploit that drained approximately 116,500 rsETH, valued at nearly $292 million. The incident raises fresh concerns about the protocol’s security, coming less than a year after a previous disruption tied to a smart contract bug Related Reading: $20M Crypto Scam Lands Texas Man 23-Year […]
Up to $26 million worth of Rari’s governance token may be distributed among users impacted by a hack that drained $10 million from the protocol this past weekend. Following a $10 million exploit over the weekend, decentralized finance protocol Rari Capital is formulating a plan to compensate victims.According to an official postmortem of the attack published May 9, the platform lost 2,600 ETH equal to 60% of all users’ funds in its Rari Capital Ethereum Pool. Rari automates yield farming by rebalancing users' funds and pools.On May 10, Rari founder Jai Bhavnani posted an update revealing....
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Stacks is bridging decentralized finance and the Bitcoin network. BitGo users will now have access to BTC yield directly through STX tokens. Beginning Monday, BitGo will offer institutional token holders the ability to earn Bitcoin rewards through the Stacks token, which is also known as STX. Through a process known as Stacking, STX token holders can earn BTC rewards directly in their wallets. Unlike other yield-earning services, BTC rewards generated through Stacking are not based on a lending auction, which means STX token holders do not need to lend their funds. Rather, Stacks claims....