The shift comes after the Kelp DAO exploit drained $292 million from its LayerZero-powered bridge, increasing concerns over the security of cross-chain …
bridge
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Decentralized finance protocol Sky, formerly known as MakerDAO, has resumed operations for its USDS stablecoin bridge on the Solana network. The move …
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Regulation
South Korean Court Rules Orbit Bridge Operator Liable for $80.5 Million Hack
by shayaanby shayaanA South Korean court has ruled that Ozys, the operator of the cross-chain bridge service Orbit Bridge, is liable for damages to …
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DeFi
Lido to Resume EarnETH Vault Operations Following KelpDAO Bridge Incident
by shayaanby shayaanLido DAO, the organization behind the liquid staking protocol Lido (LDO), has announced the imminent resumption of operations for its EarnETH vault. …
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Finance
Dominance of Tether and Circle is a net bad for stablecoins, says Bridge executive
by shayaanby shayaanMiami Beach — The stablecoin universe, dominated by Tether and Circle, hampers competition that could lead to better product-market fit for some …
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Markets
Kelp claims that LayerZero approved the setup it blamed for $292 million bridge hack
by shayaanby shayaanThe $292M exploit, linked to North Korean hackers, led Kelp to migrate its rsETH off LayerZero’s “OFT” standard to Chainlink’s “CCIP.” www.coindesk.com
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Maple Finance announced Monday that its cross-chain bridge has processed over $7 billion in total volume. The milestone reflects increased adoption of …
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DeFi
Critical Lido EarnETH Vault Exposed to $21.6M in Devastating KelpDAO Bridge Hack
by shayaanby shayaanIn a significant DeFi security incident, the Lido EarnETH vault now faces a substantial $21.6 million exposure following the massive $292 million …
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Markets
Aave could face up to $230 million in losses after Kelp DAO bridge exploit triggers DeFi chaos
by shayaanby shayaanAave published a report outlining two possible outcomes: around $123 million in losses if damage is shared across all rsETH, or up …
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DeFi
FYUSD Stablecoin’s Revolutionary On-Chain Yield Ecosystem Aims to Bridge Asian Finance with Global DeFi
by shayaanby shayaanIn a strategic move poised to reshape institutional access to decentralized finance, stablecoin issuer Fypher has partnered with Blueprint Finance to construct …