Category: Ethereum News

Harmony Protocol has proposed a reimbursement proposal to deal with whopping $99 million dollars assets stored on ONE blockchain. This includes following assets.

In recent news, a Maker DAO vault had to pay whopping 65,000 in Ethereum cryptocurrency just to pay off its debt and decrease their risk. All this has profited 150,000 dollars in fees to Oasis.app. The Ethereum was sold at an average price of 1155 dollars, which is considerably lower than Ethereum’s current price of ~$1350. Here’s the screenshot of vault history.

CEL token was created by Celsius Network and it will have zero value by fourth quarter of 2022. Reason is liquidity issues. Celsius Network previously used to allow flexible redemptions allowing anyone to withdraw their funds and forego their interest. This is also done by many centralized cryptocurrency exchanges like Binance where user can withdraw funds anytime by foregoing interest.

The current Ethereum blockchain experienced another reorg on May 25^th 2022. This is the second time Ethereum chain has been reorg-ed. Infact, we have not seen 7-block reorgs on Ethereum mainnet blockchain in years.

Beanstalk Farms had been gaining a lot of traction but today, it lost a whopping 180 million dollars and hacker got out with $76 million. All funds stored in smart contract of Beanstalk Farms have been emptied.

Inverse Finance DeFi was hacked earlier today with hacker taking whopping 11.7 million dollars, with protocol loss being much larger as less will be using it from now on. This DeFi hack was made possible by making use of price oracle manipulation bug.

Porta Network that claims to make blockchain products accessible to everyone, just rug pulled on its users, stealing more than half million dollars, $0.6M to be precise, saying they lost funds in a robbery. They say that thieves were dressed as investors and stole funds from company’s wallet which were present in same room.

CronjeFinance was launched yesterday but some had already identified hard rug code which we were certain would be executed. This is a tomb fork that contains a recovery function, according to rugdoc’s twitter account. This tomb fork function allows governance to withdraw all staked tokens 90 days after poolEndTime.

Paraluni, short for Parallet Universe is a DeFi app on Binance Smart Chain. Today, it was hacked in single transaction where whopping 1.7 million dollars in total.