Crypto lender Geist Finance shuts down permanently over Multichain hack
The $29 million TVL lending platform is shutting down because its oracles are misreporting Multichain token values after the exploit. Go to Source Powered by WPeMatico
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Multichain stops operations over lack of funds
The Multichain team said that the team’s funds and access to servers are currently with their CEO Zhaojun who is under Chinese police custody. Go to Source Powered by WPeMatico
Multichain Executor has been ‘draining’ AnySwap tokens: Report
The contract has used an “anySwapFeeTo” function to transfer hundreds of thousands of dollars worth of tokens to itself, which on-chain sleuth Spreek suspected may have been malicious. Go to Source Powered by WPeMatico
Multichain’s ‘mysterious withdrawals’ have whiffs of a ‘rug pull’ — Chainalysis
Chainalysis told Cointelegraph that they were “describing it as a possible rug pull,” based on an analysis of Multichain’s spurious transactions and internal problems. Go to Source Powered by WPeMatico
Connext founder proposes ‘Sovereign Bridged Token’ standard after Multichain incident
EIP-7281 will allow token issuers to list official bridges and limit the rate at which they can mint tokens, potentially limiting losses from bridge hacks. Go to Source Powered by WPeMatico
Multichain MPC bridge sees $100M+ outflows, sparking fears of exploit
Some Multichain contracts on Ethereum suffered withdrawals of more than half of their deposits, causing on-chain sleuths to fear an exploit is underway. Go to Source Powered by WPeMatico
Gate.io denies liquidity problems after Multichain CEO goes missing
Some Twitter users posted transactions showing large inflows of MULTI and FTM to Gate.io, leading them to perceive a connection between the two organizations. Go to Source Powered by WPeMatico
‘AI Tools Will Provide Very Interesting Enhancements for the Metaverse’ — Upland Co-Founder
According to Dirk Lueth, co-founder of the Upland Metaverse, the colonization of the metaverse by tech giants and the building of so-called “walled garden systems” is not sustainable. Lueth argues that instead of “locking users in,” the metaverse should usher in “a future where they are free to move between platforms and can easily take … Read more
Value Locked in Defi Rises Above $50 Billion Mark, Ethereum Dominates TVL by Blockchain
The total value locked (TVL) in decentralized finance (defi) has risen above the $50 billion mark after falling below the range throughout most of March. At present, the value locked in defi is approximately $50.34 billion, up 1.97% over the past 24 hours. Defi Value Swells Close to 2% Higher to Over $50 Billion […] … Read more
Total Value Locked in Defi Surpasses $50 Billion Mark for First Time Since FTX Collapse
Crypto prices have surged in value over the past few days, and the total value locked (TVL) in decentralized finance (defi) has surpassed the $50 billion mark for the first time since the collapse of FTX. As of Feb. 16, 2023, the TVL in defi is $51.1 billion, with the liquid staking protocol Lido accounting … Read more
