Crypto News

Decentralized exchange Kiloex suffered a $7 million exploit. Security firm Cyvers identified a potential price oracle vulnerability as the cause. Kiloex Calls for Blacklisting of Attacker’s Address Kiloex, a decentralized exchange (DEX) on the BNB Smart Chain, confirmed it was the victim of a $7 million digital fund exploit. Blockchain security firm Cyvers said theSource link

Optimum, a decentralized, performance-enhancing memory layer for any blockchain, raised an $11 million seed round, inviting its creators from institutions like Harvard and MIT to jump from the world of academia into the commercial crypto arena.The seed round was led by 1kx with participation from Robot Ventures, Finality Capital, Spartan, CMT Digital, SNZ, Triton Capital, Big Brain, CMS, Longhash, NGC, Animoca, GSR, Caladan, Reforge and others.Optimum is building what it calls the missing memory layer of blockchains, making the way data is stored, accessed and propagated, faster, cheaper and truly decentralized, according to a press release.At the core of Optimum’s innovation is a method of decentralized coding for distributed systems, known as Random Linear Network Coding (RLNC), developed by Muriel...

The crypto lending market is still a shadow of its former size preceding the brutal 2022-2023 crypto winter, but beneath the surface, signs of recovery are emerging, especially in the decentralized corner of the space, digital asset investment firm Galaxy Research said in a report on Monday.The total crypto lending market stood at $36.5 billion at the end of 2024, including loans backed by crypto-collateralized stablecoins, according to the report. That's a steep decline from the $64.4 billion peak seen at the height of the 2021 bull run when borrowing against crypto soared amid a wave of speculative fervor.The downturn, fueled by the collapse of major lenders such as Celsius, BlockFi and Genesis, left a few large players to dominate...

Tether, known for its stablecoin products, has emerged as the leader in the crypto-lending arena, followed by Galaxy and Ledn. The sector has undergone a consolidation period following the collapse of former crypto-lending powerhouses Blockfi, Celsius, and Genesis. Tether Becomes Leader of the Crypto-Lending Business The crypto-lending business, which involves providing liquidity backed by cryptocurrencySource link

Cybersecurity researchers believe the exploit was due to manipulation of the decentralized exchange's price oracle.Source link