Over the weekend, the Poly Network, a cross-chain bridge designed to facilitate asset transfers across different blockchains, fell victim to a devastating hack. The hacker behind the attack managed to exploit the network and swap out nearly $10 million in ETH. This breach marks yet another incident in the growing list of DeFi exploits, highlighting
Blockchain
South Korea-based Delio is currently facing scrutiny from the country’s Financial Services Commission (FSC). The FSC is investigating this crypto lending firm for alleged fraud, embezzlement, and breach of trust. The investigation stems from Delio’s unilateral decision to suspend users’ deposits and withdrawals on June 14, which raised concerns among investors. The FSC is closely
Coinbase, the leading cryptocurrency exchange, aims to empower consumers and modernize the financial system through the adoption of blockchain technology. In a blog post by Yuga Cohler, a senior software engineer at Coinbase, the company highlights the shortcomings of the current direct deposit system in the US, known as Automated Clearing House (ACH). The traditional
Tokenization, a groundbreaking application of blockchain technology, is poised to revolutionize financial and non-financial infrastructures and reshape various sectors in the coming years. In a recent research report, Bank of America (BofA) highlights the transformative power of tokenization and its wide-ranging implications. This article explores the potential of tokenization to enhance efficiency, increase liquidity, and
The recent ruling by the United States Bankruptcy Court for the Southern District of New York has opened doors for Celsius debtors to trade their altcoins for Bitcoin and Ether. This decision comes as a relief for creditors, as it will expedite the distribution of funds. However, there are certain limitations to this allowance, which