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DeFi wiped out $13 billion in two days, and it started with the KelpDAO attack

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The decentralized finance (DeFi) ecosystem is experiencing heavy capital flight following the weekend exploit of the KelpDAO protocol. Aave, the leading DeFi lending platform, lost $8.45 billion in deposits over the past 48 hours, leading to a broader $13.21 billion drop in total value locked (TVL) in DeFi. TVL refers to the combined monetary value […]

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Hack at Vercel sends crypto developers scrambling to lock down API keys

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A flaw at web infrastructure provider Vercel is forcing crypto teams to rotate API keys and perform deep inspection of their underlying code. In a bulletin, Vercel said the hacker was able to scrape behind-the-scenes settings that weren’t locked down, potentially exposing API keys — the digital credentials used by apps to connect to other

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how it happened and what it means for DeFi

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A roughly $292 million exploit over the weekend shook the crypto industry, exposing vulnerabilities in decentralized finance (DeFi) infrastructure and raising concerns about ripple effects on lending protocols. Although investigations are still ongoing, initial analysis suggests the attack was centered on Kelp’s rsETH token – a profitable version of ether (ETH) – and the mechanism

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Here’s how the crypto community is reacting after a massive $292 million hack

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The $292 million Kelp DAO exploit has sparked a wave of reactions across the crypto industry, with developers and traders warning that the incident has exposed deeper flaws in the way decentralized finance (DeFi) is built. Data shared by market participants shows that the immediate consequences spread far beyond the hacked protocol. “The rsETH hack

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Consensus Policy Summit Preview: State of Crypto

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As readers of this newsletter may know, Congress has spent the last few months debating market structure legislation, but crypto policy discussions encompass many more issues than this: taxes, decentralized financial regulation, midterm elections, states and much more. CoinDesk’s Consensus Miami conference next month will examine each of these questions in depth. You’re reading State

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Stablecoins can help businesses turn costs into revenue, but not everyone needs to issue a token:

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Stablecoins, the $300 billion class of digital dollars, may have started as a faster way to move money around the world, but companies are now asking a different question: What can they actually do with them? This shift is driving a new phase of adoption, according to Chunda McCain, co-founder of Paxos Labs, who says

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RaveDAO’s RAVE Token Crashes 90% in One Day as Exchange Investigations Widen

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Three wallets, one refusal and a market capitalization of $5.7 billion gone in 48 hours. RaveDAO’s RAVE crashed 90% in 24 hours as crypto exchanges Binance and Bitget opened investigations into the trading activity that catapulted the token to a $6 billion market cap last week. Bitget CEO Gracy Chen confirmed the investigation into Gate.io

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Aave Records $6B Drop in TVL as Kelp Hack Exposes Structural Risk at DeFi Lender

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Aave just saw $6.6 billion go out the door, and it’s not because someone hacked Aave. The protocol’s total value blocked increased from $26.4 billion on April 18 to nearly $20 billion as of Sunday morning in the United States, according to DefiLlama. The AAVE token fell 16% to $92 and daily fees soared to

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France is facing a growing wave of violent crimes against the crypto community.

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France is facing a rise in crypto-related kidnappings, as so-called “key attacks” become more frequent, brazen and violent. This change was visible this week during the organization of an annual international conference on blockchain and cryptography. A procession of police escorted VIP guests to a dinner at the Palace of Versailles. And security was also

France is facing a growing wave of violent crimes against the crypto community. Read More »

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