Entries by Naga Avan-Nomayo

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US Treasury and Chainalysis Unmask $600 Million Ronin Hackers – Lazarus

Lazarus, a North Korean-based cybercrime and anonymous hacker organization has been linked to the biggest exploit in decentralized finance (DeFi) history – the $600 million hack on the Ronin Sidechain protocol. U.S. Authorities and blockchain security outfit Chainalysis have both published reports saying that the notorious group is linked with the attack. Following the news, crypto proponents surmised that chances of recovery are slim and that funds could be lost forever.

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NEAR Rallies After $350 Million Fundraise and USN Stablecoin Announcement

Layer one blockchain solution Near rallied over the past few weeks following two hefty fundraisers in January and April. The token’s price is approaching an all-time high region for the first time since January 2022.
Near’s price surge could also be connected to news about a native stablecoin expected to go live this April. The stablecoin dubbed $USN will arrive with incentives like high APY’s, similar to Terra’s UST on the Anchor protocol.

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VCs Inject Almost Half A Billion Dollars into Blockchain Startups Recently

Over the past few years, the cryptocurrency and blockchain industry has driven the digital economy forward with countless innovative developments including decentralized finance (DeFi) solutions, Web3 tools, and NFTs to name a few. While the space was initially referred to as a bubble waiting to burst, blockchain technology has so far proven doubters wrong. This persistence coupled with continuous advancement has supposedly caught the eyes of institutional investors who are increasingly splashing the big bucks to support startups focused on solving key problems by leveraging the technology powering modern financial products like the so-called ‘magic money’ and ‘digital gold’.

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DeFi’s Biggest Hack Yet – Ronin Bridge Exploited for Over $600 Million in ETH and USDC

Six days after the initial attack, the Ronin Network team has revealed that the sidechain was exploited by an unknown hacker. The postmortem audit discovered that 173,600 ETH and 25.5 million USDC was stolen from the Ronin bridge in two transactions. Ronin’s team has halted the bridge and limited access to the Katana dex until the matter is resolved. The project leads have also contacted relevant law enforcement authorities and alerted exchanges.

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