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Over $290,000 Stolen From DeFi Protocol Flurry Finance

Mark Brennan
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Over $290,000 Stolen From DeFi Protocol Flurry Finance

Popular decentralized finance (DeFi) aggregator Flurry Finance is the latest to be attacked by malefactors. 



According to multiple reports, over $290,000 was stolen from Flurry Finance vault contracts, prompting the project to halt all smart contracts of rhoTokens on its platform as well as on Polygon and Binance Smart Chain (BSC). 

 

Per the report, the attacker deployed a malicious contract in the protocol and further created a PancakeSwap pair for the RhoToken against Binance stablecoin (BUSD). 

The creation of the malicious contract code dubbed “FlurryRebaseUpkeep.performUpkeep()” rebases all update multipliers for RhoTokens. 

The illicit update was executed in the form of a flash loan and all tokens borrowed from the bank contract were not returned, and the low balance subsequently resulted in a low multiplier. 

After a while, the attacker returned the flash loan. Further investigations show that the attacker conducted another transaction, but this time, the attacker deposited tokens using a lower multiplier and subsequently updated the multiplier to a higher value.  

The hacker later made withdrawals with the higher multiplier. 

Since the multiplier is one of the key reasons behind the spike in RhoToken balance, the attacker also recorded an increase in their own balance. 

Based on this, they were able to withdraw more than what they deserved from the pool and the process was repeated several times, which resulted in more than $290,000 in losses. 

It is worth noting that the attackers only exploited funds in the FinanceRabbit Strategy. In an effort to prevent things from escalating, Flurry Finance announced that it has suspended all smart contract activities for RhoTokens on all networks. 

It also noted that investigations are still ongoing and will release an update at the appropriate time.   

Rise in Crypto Theft on DeFi Platforms

Hackers are always on the rampage, exploiting various loopholes found in various decentralized finance projects. 

On a yearly basis, these malefactors steal millions of dollars from not only vulnerable projects but also from investors. 

Earlier this month, we reported that attackers stole 4,828 Binance Coins (BNB) from Titano Finance, in an operation many suspected of being a rug pull. 

Top ADA Addresses Adds More, Cardano Price Performance Causes Unusual Adoption of ADA

Albert Brown
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Top ADA Addresses Adds More, Cardano Price Performance Causes Unusual Adoption of ADA

User activity in the adoption of Cardano (ADA) has been utterly unusual in the past few months. 



According to a blog post by Santiment Feed, the number of addresses holding between 10,000 and 100,000 ADA has continued to spike, with over 6% of the token’s total supply accumulated by this category of users in the last five weeks. 

 

Unfortunately, addresses holding between 100,000 and 1,000,000 Cardano cryptocurrency have not been able to maintain the same momentum, as they have plummeted from 37% to 17% in the past three months. 

Cardano ADA Price Action 

The massive price fluctuation of Cardano causes unusual activity since it reached an all-time high (ATH) of $3.09 in September 2021. 

Cardano, the popular smart contract platform nicknamed the “Ethereum Killer” by its supporters, has not enjoyed a pleasant journey since its native cryptocurrency peaked at $3.09, as it has fallen over 70.2%. 

The majority of the massive dip was caused by a number of factors, including the upcoming Fed’s interest rate slated to go live in March 2022 and the heightened tension between Russia and Ukraine. 

However, investors have continued to show signs of mixed reactions to the dip, resulting in the unusual adoption of the cryptocurrency. 

While there has been increased growth in the number of addresses holding between 10,000 and 100,000 ADA coins, the number of users holding between 10,000 and 1,000,000 tokens has been on a decline. 

Short Position and High Transaction Volume Can Pump Price

Following the decline in ADA price, a recent analysis of the coin’s average hourly funding rate on FTX and DYDX cryptocurrency exchanges shows that several traders are shorting at their highest ratio in a month. 

A similar trend was also observed on the world’s largest cryptocurrency exchange, Binance, suggesting that traders are heavily trading shorts for ADA. 

Although the negative funding rate signifies that a majority of traders are expecting ADA prices to fall lower, most times, these positions can propel the price of Cardano to surge higher, thus resulting in massive liquidation. 

Furthermore, high transaction volumes of at least $100,000 can contribute to pumping ADA prices again. 

Santiment reports that only a few $100,000 and above transactions are being carried out at the moment. Still, it is expected that more will take place in the coming days as the Cardano team continues to deploy valuable initiatives. 

As reported, Dan Gambardello, owner of Crypto Capital Ventures (CCV), noted that ADA is a sleeping giant that will soon explode. 

Meanwhile, The Crypto Basic reported that the number of Cardano holders holding between 10,000 and 1,000,000 ADA has skyrocketed by 15,000% since December 2021. 

Puma Registers Its Own ENS Domain

Mark Brennan
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Puma Registers Its Own ENS Domain

Puma goes further into the Metaverse.



According to ens.eth, the sporting goods manufacturer, Puma has registered its own ENS domain.

Sporting goods manufacturer Puma has registered its own decentralized URL using the Ethereum Name Service (ENS).

This development emerges from a Twitter post by ens.eth. Puma follows other large companies such as the US beer brand Budweiser, which belongs to the Anheuser-Busch group. In August 2021, they had acquired the domain Beer.eth for 120,000 US dollars.

Puma has already made several investments in various NFT collections. According to Opensea, the sporting goods manufacturer has already invested in several NFT collections, including Cool Cats NFT, Lazy Lions, Gutter Cat Gang, and CatBlox.

Other sports companies such as Nike also started their first attempts in the Metaverse at the end of last year.

An ENS domain allows sending, receiving, and storing hundreds of cryptocurrencies and NFTs with one simple domain. Ethereum Name Service (ENS) is a smart contract that connects identities to Ethereum addresses.

Metamask Now Enables You To Turn Your Mobile Into Hardware Wallet

Mark Brennan
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0
Metamask Now Enables You To Turn Your Mobile Into Hardware Wallet

Metamask Now Allows You to Store Your Cryptocurrency and Private Keys Offline.



With the rise in online cryptocurrency theft globally, there have been several calls for crypto traders to store their funds offline using hardware wallets. 

However, there has been a slow adoption of cryptocurrency hardware wallets because of the cost of purchasing these crypto storage devices.

Thanks to a collaboration between leading cryptocurrency wallet provider Metamask and AirGap, cryptocurrency enthusiasts can now convert their old mobile phones into a cryptocurrency hardware wallet. 

“Want a hardware wallet? Do you have an old phone lying around that you don’t use?

MetaMask now supports @AirGap_it Wallet, a free app on Android and iOS that turns a phone into a hardware wallet,” Metamask tweeted recently. 

What Metamask and AirGap Offers 

According to a recent announcement, via the solution, users can conveniently check their account balance, sign transactions, buy and sell cryptocurrencies and non-fungible tokens (NFTs), among others. 

Unlike most cryptocurrency wallets, AirGap works in a non-internet environment, storing users’ private keys completely offline. 

Using a two-device approach, AirGap increases the usability and security of users’ funds and private keys. 

With the use of a two-device approach, interested cryptocurrency traders will be required to install the AirGap vault on a dedicated smartphone device, which could be an Android or iOS device, while also installing the AirGap wallet application on their everyday smartphone. 

Users are advised to install the latest updates and firmware on a dedicated device and only use the phone exclusively for the AirGap vault. 

At the moment, the AirGap solution functions seamlessly on Binance Smart Chain (BSC), as well as Ethereum, which implies that users can access the numerous decentralized applications (dApps) available on both blockchains. 

With AirGap’s solution, Metamask now supports five hardware wallets, including Ledger, Trezor, Keystone, and Lattice. 

The need to store your funds and private keys offline cannot be overemphasized, as you’re well protected from every form of online attack. 

In a recent report, Square CEO Jack Dorsey said Block Inc is building a Bitcoin hardware wallet to keep users safe. 

Shiba Inu Becomes Most Traded Token By Top 1000 ETH Wallets After Latest AMA Session

Zabi
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0
Shiba Inu Becomes Most Traded Token By Top 1000 ETH Wallets After Latest AMA Session

Shiba Inu (SHIB) Becomes the Most Traded Token by Top 1000 Ethereum Wallets amid Bullish Announcements during the latest AMA Session.



The latest bullish announcements during the recent AMA session organized by Watcher Guru Make the Shiba Inu token the most traded among Ethereum (ETH) whales.

Watcher Guru scheduled Shiba Inu’s AMA session on February 21, 2022.  Almost all the Shiba Inu team was present, including the lead developer of SHIB, Shytoshi Kusama.

During the AMA session, the team made the following two major announcements to make the Shiba Inu ecosystem stronger than ever.

  • Shiba Inu decided to launch its own Burn Portal.
  • Shiba Inu has acknowledged a total of 99,000 lands for its Metaverse. (Shiberse). Thirty-five thousand lands were reported to be released first through a 10-day ‘land event,’ and only LEASH holders will be given the first access to view, bid, and purchase these SHIB lands. The Shiba Inu team will later release the second batch of lands that will be open to everyone, not just LEASH holders.

Shiba Inu’s team further confirmed that all three ecosystem tokens, including SHIB, BONE, and LEASH, will have a use case in Shiberse.

Following this news, Ethereum whales rush to trade SHIB tokens, Shib manages to flip Uniswap (UNI) to become the most traded token by 1000 biggest ETH wallets in the last 24 hours, as per data provided WhaleStats.

Shiba Inu’s price surges over 5% for the day, and at the time of writing, it is trading at $0.0000251 per token. However, the 24-hours trading volume for Shiba Inu plunges 38.98% to $1,268,316,651.27 compared to the previous trading session.

Billy Markus, Dogecoin Creator: “You Can Hire A Lawyer With Dogecoin”

Zabi
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0
Billy Markus, Dogecoin Creator: “You Can Hire A Lawyer With Dogecoin”

You want to hire a lawyer with your favorite meme, Cryptocurrency. No Problem!



You can hire lawyers using the most popular and biggest Meme Crypto assets Dogecoin (DOGE).

On Monday, a leading UK law firm, Gunnercooke, announced that they would be the first major law firm in the U.K. that will officially accept payments for their legal and professional services in crypto assets like Bitcoin Ethereum Dogecoin.

The decision comes as the firm noticed a considerable demand for crypto-assets and its growing community. To make the crypto transactions possible, the firm has collaborated with one of the leading UK-based exchanges, Coinpass.

In November, Coinpass announced its support for Dogecoin and EOS, Tezos, Cardano, and UniSwap. Other supported crypto assets include Bitcoin, Ethereum, Ripple, and more.

According to the company, the firm has already run the test and accepted payment for its legal consultancy services in Ethereum from one of the clients, Attestant, a company dedicated to crypto-staking.

Billy Markus, Dogecoin creator, tweet confirms that the law firm has allowed payments in Dogecoin, along with Ethereum and Bitcoin.

 

Besides this, many trusted sources have reported that the Dogecoin Themed Burger joint is opened in Dubai. According to the reports, this fast-food restaurant will let people order burgers to their door paying in Doge.

Shiba Inu to Launch Official SHIB Burning Portal, 99,000 Plots of Shiba Metaverse Land & More

Albert Brown
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0
Shiba Inu to Launch Official SHIB Burning Portal, 99,000 Plots of Shiba Metaverse Land & More

Following the AMA session held today, Shiba Inu has disclosed a number of significant updates that will be unveiled in the near future. 



According to the ShibaGuruAMA, today that was hosted by Watcher Guru and attended by top Shiba enthusiasts like Discord Mod Queenie and game developer William Volk, Shiba Inu lead developer Shytoshi Kusama.

The Shiba Inu team said it will be launching a burn portal for SHIB that will ultimately reduce the cryptocurrency’s total supply. According to the team, the burn portal will be featured in the upcoming ShibaSwap 2.0. 

While Shiba Inu urged the SHIBArmy not to expect 90% burn for the 1 quadrillion SHIB total supply, the team said the upcoming initiative will further improve the utility of the dog-themed cryptocurrency. 

“We want to make the burn rate grow with the utilization rate of the platform. So if you think about it, this is kind of a new utility. It’s about getting the supply slowly reduced as you use the platform,” the Shiba Inu team noted. 

Shiberse Upcoming Land Sale

As part of its upcoming initiatives for Shibarmy, the team further disclosed that it will be launching 99,000 plots of landed properties in Shiberse, Shiba Inu metaverse, which is tipped to feature several real estate properties. 

Per the announcement, a total of 35,000 pieces of land will first be made available in phase one for $Leash holders, while the other plots of land will be released in subsequent phases for everyone. 

Notably, the land sale will utilize a bidding system, with prices ranging between 0.2 ETH and 1 ETH. The closer the property is to the dog park, the more expensive the land will be sold, Archangel commented. 

Nonetheless, the pricing of the lands have not been revealed and will be out only during the 10-day land event. Shiba Inu’s Metaverse will include transaction options of the whole ecosystem- SHIB, BONE & LEASH.

The maximum a ‘wallet’ can purchase is 100 plots with a 10 by 10 land. To purchase lands in the Metaverse, Shiberse, you need to pay in Ethereum. Leash allows access only to early bidding but investors need to pay in ETH to purchase lands. Also, Shiboshis will get 2000 lands that will be exclusively reserved for the Shiba Inu NFT Holders.

Shiba Inu Game

Volk, during his speech, reiterated that the upcoming Shiba Inu game will not be like the regular card game people are used to. 

”I want to make it clear this is not just a clone of an existing game. Collectible card games are really kind of unique. Something that is very interesting about it is that it has a very sustainable economy. It includes both the mobile and blockchain game,” Volk added. 

Not planning to give the community details of all upcoming initiatives, Queenie disclosed that Shytoshi Kusama, Shiba Inu pseudonymous founder, told her that an important announcement that will be remembered forever will be made in the coming days. 

Shiba Inu Continuous Development 

Shiba Inu has been delving deeply into the decentralized ecosystem, as the team behind the project continues to create more utility for the cryptocurrency. 

Despite being initially created to overthrow the first dog-themed cryptocurrency Dogecoin (DOGE), Shiba Inu has shown the world in the last couple of months that it is no longer a memecoin, and has constantly rejected the title. 

In the last couple of months, Shiba Inu has launched its non-fungible token (NFT) dubbed Shiboshi, a decentralized cryptocurrency exchange named ShibaSwap, among others. 

The project is also developing Shibarium, a layer 2 blockchain that will host all of its numerous projects, including SHIB, Shiboshi, ShibaSwap, and Shiberse. 

Hacker Revealed A Coinbase Bug That Allowed Him To Buy 50 Bitcoins For 50 Shiba Inu

Mark Brennan
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Hacker Revealed A Coinbase Bug That Allowed Him To Buy 50 Bitcoins For 50 Shiba Inu

White Hat Hackers are an essential part of the crypto market and the entire online industry, often finding defects that could end companies.



Recently a hacker known as “Tree of Alpha” won a Coinbase bounty for finding and reporting a bug that could have severely harmed Coinbase.

The hacker himself told the case on his Twitter account, where he talked about how he got the “biggest bug bounty in history.” Tree of Alpha received a total of $250K for identifying a fatal bug.

“How a flaw in the new Advanced Trading feature would have allowed a malicious user to sell BTC or any other coin without owning them, and how Coinbase’s reaction speed on a Super Bowl Friday averted a possible crisis.”

 

Tree of Alpha stated that it was tinkering with the new advanced Coinbase trading platform to understand how orders were sent and executed. He said he placed an order on the ETH/EUR pair and noticed that the API needed a product identification, source, and recipient account.

coinbase hack 1
image source: https://twitter.com/Tree_of_Alpha/

While trying to change these IDs, he realized something was wrong and could be something potentially dangerous.

“To get a failed message, I changed the product_id to BTC-USD but did not change the two account ids (source is my ETH wallet, the target is my EUR wallet). Expecting an error because my account is not allowed to trade the BTC-USD pair, the order just … goes through.”

coinbase hack 5
image source: https://twitter.com/Tree_of_Alpha/

He could exchange these IDs for selling in an order book where he does not have the coins. He even tested with 0.0243 ETH to sell 0.243 BTC, exchanging this information in order.

“I just used 0.0243 ETH to sell 0.0243 BTC on the BTC-USD pair, a pair I do not have access to without holding any BTC. Hoping this is a UI bug, I check the fills on order, and they match the API: those trades happened on the live order book.”

coinbase hack 2
image source: https://twitter.com/Tree_of_Alpha/

In theory, he could use this bug to create orders in currencies he didn’t have in his wallets. He even carried out a second experiment using the SHIB cryptocurrency.

He sent 9 million SHIB to his Coinbase account and similarly exchanged the order information to create a sell order for 50 bitcoin using just 50 SHIB. He even asked people nearby if they could see the purchase order, and it existed.

“For my last test before reporting this to make sure, I send 9M SHIB to my Coinbase account -change source account id to my SHIB account on Coinbase -put a 50 BTC limit sell order using 50 SHIB -ask people around me if they are, too, seeing it.

And quite frankly, there aren’t many things quite as sobering yet terrifying as realizing: -you just put a 50 BTC limit sell order using 50 SHIB. –everyone else can see it. Five minutes later, I was sending this initial tweet.”

coinbase hack 3
image source: https://twitter.com/Tree_of_Alpha/

Tree of Alpha said that because of community support, the Coinbase Dev team contacted him and canceled all market orders to fix the bug within three minutes.

“Thanks to an overwhelming community response including prominent faces like @cobie, @samczsun, @FEhrsam, @SecurityGuyPhil, and @vishalkgupta, I quickly get Coinbase’s attention. Barely 3 minutes after my HackerOne report was sent, I got an answer from the Dev team.

After quickly explaining the exploit and supplying proof of concept, I insist on how Coinbase needs to immediately stop all Advanced Trading, incl. And most importantly, posting orders. Less than 30 minutes later, all markets there were in cancel-only mode.”

The consequences would have been so worst and beyond imagination, if any black hat hacker had found the nug, but thanks to Tree of Alpha, he not only saved Coinbase but all the traders that are trusting Coinbase security and trading billions of dollars on it.

Chainlink Becomes Most Traded Coin Among Top ETH Wallets, As Whales Accumulate 1.3M Link For $18.8M

Zabi
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0
Chainlink Becomes Most Traded Coin Among Top ETH Wallets, As Whales Accumulate 1.3M Link For $18.8M

Ethereum Biggest Whales “Light” and “Trinity” Jumps to Eat Chainlink (LINK) Dip as Price Reaches Its Critical Support Level.



Top Ethereum Whales are showing their hunger for Chainlink (LINK) as the price technically reaches its critical support level i.e., $13.78. Chainlink’s price depreciates over 5% for the day, and at the time of writing, it is trading at $13.88 per coin, almost near its critical support level. During the day, the LINK registered its low price of $13.18 and then rebounded to $14.71.

Following this rebound in price, Ethereum Whales became active and started to eat the dip. WhaleStats 24-hours data revealed that the 25th biggest well-known Ethereum Whale “Trinity” had bought a total of 858,198 LINK coins, valued at $12,049,104 ($12M), by carrying 2 transactions. 700,000 LINK coins worth ,828,000 (.8M) were purchased by the whale in the first transaction. She made another transaction just after 4 minutes and purchased another 158,198 LINK coins worth ,221,104 (.2M). Looking deep into the Whales wallet, we found that Chainlink is her 6th biggest holding and has a total of 858,148 LINK coins worth ,207,949 (12.2M).

Following “Trinity,” another Ethereum biggest whale, known as “Light” also jumps to grab LINK coins and made one transaction to purchase 500,000 LINK coins, valued at ,780,000 (M).

In total, both whales purchased 1,358,198 (1.3M) LINK coins worth $18,829,104 ($18.8M) in a matter of just 24 hours.

Chainlink managed to flip Polygon (MATIC) and becomes the most traded token by top 1000 Ethereum (ETH) wallets in the last 24 hours in response to recent whales’ activity.

According to WhaleStats, the top 1000 Ethereum (ETH) whales are now holding a total of 11,146,888 (11.1M) Chainlink, valued at $151,196,811 ($151M) in their wallets.

VeChain Bags New Award From Shanghai Government

Albert Brown
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0
VeChain Bags New Award From Shanghai Government

Leading enterprise-friendly blockchain project VeChain has announced that it has bagged a prestigious award from the Shanghai government. 



VeChain took to its Twitter handle to announce that the Shanghai government has awarded the blockchain project the status of ‘High and New Technology Enterprise (HNTE). 

“Three bodies of the Shanghai gov jointly awarded #VeChain the status of ‘High and New Technology Enterprise (HNTE),” VeChain tweeted today. 

 

Commenting on the recent accolades it received, VeChain stated that the feat comes as a form of recognition for its technical excellence and advanced technology. 

Furthermore, the prestigious award from the Shanghai government will also grant VeChain a special tax status, thus allowing the company to dedicate more resources toward building significant projects. 

This is not the first time VeChain will be bagging an award of excellence from the Chinese government. 

In 2020, VeChain was declared the winner of China’s Innovative Green Energy award. 

VeChain’s Expansion and Adoption

The development comes a month after VeChain announced the opening of a new European headquarters to further offer its services to its growing clients. 

VeChain’s efficient blockchain project has resulted in a number of partnerships between the company and top brands, as well as government organizations. 

The company’s technology is mostly adopted to trace various goods using blockchain tech. 

Earlier this month, VeChain announced that it was commissioned to build a government traceability platform to facilitate the easy tracking of agricultural products like rice and millet, in China and Mongolia. 

As reported last year, VeChain partnered with China’s promising olive oil producer, the Olive Times, in a deal that requires the blockchain company to use its Blockchain-as-a-Service (BaaS) platform to track the distribution of olive oil to Chinese customers. 

In another development, VeChain announced that its first-ever stablecoin, dubbed VeUSD, will soon go live on the VeChain mainnet, which will usher in a new phase of VeChainThor, the public blockchain of the network. 

Meanwhile, VeChain collaborated with payment firm Simplex to enable its enthusiasts to buy the VET cryptocurrency using their Visa and Mastercard. 

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