DeFi Funding Skyrockets 190% in 2022
Digital asset investment firms invested $2.7 billion in decentralized finance (DeFi) projects in 2022, marking a 190% increase from the previous year, while investments into centralized finance (CeFi) projects dropped by 73% to $4.3 billion. Despite the overall crypto funding figures falling from $31.92 billion to $18.25 billion, DeFi saw a near three-fold increase, potentially signaling it as the new high-growth area for the crypto industry, according to a CoinGecko report.
DeFi Suffers $21M in Losses from Exploits
Decentralized finance (DeFi) platforms lost at least $21 million in February due to a series of exploits including flash loan reentrancy attacks, price oracle attacks, and other hacks across seven protocols. Noteworthy incidents included the reentrancy attacks on Platypus Finance and dForce network, the price oracle attack on BonqDAO, and the smart contract exploit on Hope Finance. These incidents follow a report by Chainalysis revealing that DeFi platforms lost $3.1 billion to hacks in 2022.
Jump Crypto Recovers $140 Million Worth of Tokens from Wormhole Hack
Jump Crypto and Oasis recover $140m from Wormhole hack, showcasing importance of collaboration and innovation in fighting crypto hacks.
Oasis.app and Jump Crypto Retrieve $225 Million in Crypto
The hacker's vaults show that Oasis sent 120,695 wstETH and 3,213 rETH to Jump Crypto on February 21.
Two suspects have been arrested by the French police in connection with Platypus
French authorities apprehended two individuals in Platypus' $9.1 million exploit.
Interchain Foundation to Spend $40 Million on Cosmos Ecosystem Development
The ICF supports adoption initiatives like Interchain Builders and Interchain NFTs while emphasizing core development.
Galaxy Digital Invests $44 Million Into Institutional Cryptocurrency
Galaxy Digital invests $44 million in institutional bitcoin custody platform GK8 to integrate its asset storage and management capabilities.
Binance Launches In-Store Crypto Payment Solution with Ingenico
In Q2 2023, a crypto-to-fiat solution for fiat payments will pilot for retailers.
CEO of Composable Finance Vigorously Refutes Allegations
Composable Finance CEO Omar Zaki denies Karel Kubat's claims that his business violated SEC cease-and-desist orders.
Dozens of AI-Powered Chatbot Tokens Found to Be Part of honeypot schemes
Blockchain security company PeckShield has warned about "dozens" of BingChatGPT pump-and-dump tokens.