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$48.0733
(-0.35%)
0.00195772 BTC
Market Cap (Rank#142)
$296,540,059
12,076 BTC
Vol 24h
$198,178
8.070549 BTC
Circulating Supply
6,168,502.33
Max Supply
?
1 day agocryptopotato
Solana Wallet Slope Says no Evidence Linking Security Flaw to $4 Million Hack
The developers behind the Slope wallet claim that there's no link between the security vulnerability in the wallet and the multi-million Solana-based incident.
3 days agocryptodaily
Crypto Daily - Crypto And Financial News 10/08/2022 Crypto Contagion Spreads To Hodlnaut
In Todays Headline TV CryptoDaily News: Renewable energy company closes $4.3M capital round. Vespene Energy, a Berkeley, California-based company that converts methane gas released from landfills into power for bitcoin mining, closed a $4.3 million funding round led by blockchain investment firm Polychain Capital and other climate-focused funds. Crypto hit by new security woes in incident at DeFi protocol. Cryptocurrency exchange Curve Finance appeared to have been buffeted by a security incident, adding to a litany of recent breaches afflicting the digital-token sector. Crypto lender Hodlnaut follows other firms in freezing withdrawals. Cryptocurrency lender Hodlnaut is the latest firm to succumb to tumultuous market conditions and halt withdrawals. In a post on its website, the Singapore-based company announced that it’s freezing withdrawals, token swaps, and deposits due to an uncertain economy that some say triggered a “crypto winter.” BTC/USD dove 3.2% in the last session. The Bitcoin-Dollar pair plummeted 3.2% in the last session. The Ultimate Oscillator is giving a negative signal. Support is at 226751 and resistance at 247951. The Ultimate Oscillator is giving a negative signal. ETH/USD plummeted 4.9% in the last session. The Ethereum-Dollar pair plummeted 4.9% in the last session. The Stochastic indicator is giving a negative signal. Support is at 1643.751 and resistance at 1880.471. The Stochastic indicator is currently in negative territory. XRP/USD plummeted 3.7% in the last session. The Ripple-Dollar pair plummeted 3.7% in the last session. The MACD is giving a negative signal. Support is at 0.3651 and resistance at 0.3914. The MACD is giving a negative signal. LTC/USD dove 5.8% in the last session. The Litecoin-Dollar pair dove 5.8% in the last session. The Williams indicator's negative signal is in line with the overall technical analysis. Support is at 59.2367 and resistance at 65.7767. The Williams indicator is currently in the negative zone. Daily Economic Calendar: UK RICS Housing Price Balance The RICS Housing Price Balance survey presents housing costs. It shows the strength of the housing market. The UK's RICS Housing Price Balance will be released at 23:01 GMT, the US MBA Mortgage Applications at 11:00 GMT, Germany's Consumer Price Index at 06:00 GMT. US MBA Mortgage Applications The MBA Mortgage Applications released by the Mortgage Bankers Association presents various mortgage applications. It is considered as a leading indicator of the U.S Housing Market. DE Consumer Price Index The Consumer Price Index measures price movements by comparing the retail prices of a representative shopping basket of goods and services. US Monthly Budget Statement The Monthly Budget Statement summarizes the financial activities of federal entities, disbursing officers, and Federal Reserve banks. The US Monthly Budget Statement will be released at 18:00 GMT, Finland's Industrial Output at 05:00 GMT, the US Consumer Price Index at 12:30 GMT. FI Industrial Output The Industrial Output shows the volume of production of industries, i.e., factories and manufacturing. US Consumer Price Index The Consumer Price Index measures price movements by comparing the retail prices of a representative shopping basket of goods and services. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
4 days agocryptodaily
As DeFi Hacks Soar, This Startup Wants To Radically Overhaul Smart Contracts To Prevent Them
Over the past couple of years, hundreds of new decentralized finance applications and protocols have flooded onto the Ethereum network and other blockchains. In November 2021, the total value locked in all DeFi apps reached a staggering $290 billion. DeFi, in theory, is designed to democratize access to finance by enabling people from all over the world, from any background, no matter who they are, to participate. There are no financial or geographical restrictions or centralized intermediaries - everything is decentralized, trustless, and peer-to-peer. It’s a vision that has proven popular, with DeFi growing faster than anyone could have imagined. However, its rise has been clouded by numerous critical security threats that make it seem like a very risky venture to anyone who’s not extremely knowledgeable about how crypto works. While 2021 was a big year for DeFi, it was arguably even bigger for hackers, with a recent report from Chainalaysis finding that they stole a combined $3.2 billion worth of cryptocurrency that year. This year is likely to be just as profitable for hackers. According to CertiK’s latest report, DeFi and Web3 together lost more than $2 billion to hackers in the first six months of the year. Chainalysis said hackers in the crypto sphere have migrated away from wallets and other targets, and are almost exclusively targeting DeFi protocols today. In the first three months of 2022, almost 97% of all funds stolen by hackers came from DeFi, up from 72% in 2021 and just 30% in 2020. A quick look at some of the biggest hacks of this year explains why DeFi has become such a popular target for attackers. The amounts they can steal are tremendous. The most expensive hack so far this year was the Ronin Validator Security Breach. On March 23, the person or persons responsible for the attack were able to compromise Sky NMavis’s Ronin and Axie DAO validator nodes, hack the private keys and make illicit withdrawals. They stole an incredible 173,600 ETH and 25.5 million USDC, amounting to $615.5 million in total, via just two transactions. Unfortunately, the Ronin hack was not just an isolated event. In February hackers exploited a security vulnerability in Wormhole’s signature verification, enabling them to make off with 120,000 wETH on Solana, an amount that was worth $326 million at the time of the attack. Similarly, in April, the Beanstalk protocol fell victim to a one-day delay inside a $BEAN governance proposal contract to complete a flash loan. The attacker was able to steal 70% of the total seeds, getting away with $181 million in total. Spotting Smart Contract Vulnerabilities The vast majority of DeFi hacks occur due to vulnerabilities in the smart contracts that power the protocols. Smart contracts are self-executing bits of code that automatically process transactions when certain conditions are met. They’re one of the core elements of DeFi as they make the requirement for a trusted intermediary redundant. The good news is that the community is aware that smart contracts are a glaring weakness in DeFi security and is taking steps to address them. The most reliable DeFi protocols today are sure to carry out a comprehensive smart contract audit to identify if any vulnerabilities exist. Audits are carried out by reliable firms such as CertiK and Hacken, and assess the recorded transactions within a blockchain ledger to try and spot any bugs. Other ways of identifying vulnerabilities include penetration tests by teams of security experts, who attempt to hack DeFi protocols so they can inform the developers how they did it, allowing them to close whatever loopholes are discovered. In addition, protocols can also offer “bug bounties”, where they essentially crowdsource security. Dozens of “white hat” hackers compete for a monetary prize to identify vulnerabilities within a protocol. Bug bounties can be especially beneficial because they incentivize participants to act like real cybercriminals, meaning they will likely attempt to hack the protocol using similar methods as the real bad guys do. The idea being that the good guys will discover any obvious exploits before they’re exposed in the real world. Smart contract code audits and bug bounties can help to protect DeFi protocols against common hacks around unhandled exceptions and transaction order dependency. However, audits are unfortunately not infallible - the Chainalaysis study found that 30% of exploits this year occurred on platforms that had been audited within the past 12 months. So while code audits and bug bounties can be helpful, they do not provide any guarantees. As such, DeFi protocols that are managing billions of dollars in user’s funds ought to adopt a more robust approach to security. Reinventing Smart Contracts One of the most exciting solutions to emerge is the Scrypto programming language developed by Radix, which is a layer-1 blockchain protocol that has been built specifically for DeFi. The Scrypto language is based on the popular Rust programming language and retains most of its features. However, it notably adds a number of specific functions based on the Radix Engine. It can be thought of as a collection of libraries and extensions to Rust that provides asset-oriented features, enabling Rust-style logic to interact with assets as a native, first-class citizen. The most important distinction of Scrypto is that it effectively does away with smart contracts. Instead of smart contracts, it uses blueprints and components to process transactions. Blueprints are compiled source code that lives on the blockchain, where they can be used by anyone. Their role is to provide “constructor functions” for DeFi transactions, with flexible parameters that others can instantiate. They’re generally quite specialized in terms of functionality, though they can support multiple different use cases depending on exactly how they’re instantiated. Blueprints can sometimes work with other blueprints, deployed together as a “package”. To activate a blueprint, it must be instantiated by calling one of its constructor functions in order to obtain the address of a newly created instance, known as a “component”. Components are used to manage state and can gather, hold and distribute resources according to the logic associated within the blueprint that created it. In other words, components in Scrypto resemble smart contracts, however, they derive from the logic defined within the blueprint that gave birth to it. Scrypto’s unique architecture allows it to carry out transactions in a very different way to regular smart contracts written in Solidity or another language. Instead of sending a number or reference to some tokens, Radix Engine transfers ownership of tokens from the caller to a component. Once that component receives a bucket of resources or multiple buckets, it can take those resources and deposit them into a vault it holds, or else a different bucket. Then, the Radix Engine ensures that the caller can no longer access the bucket or vault. The end result is that dApps built on Radix have a much simpler and safer way of transacting. To better understand how it works, Radix offers us the example of a gumball machine that accepts USD tokens in exchange for a token held within its vault. In this example, the user passes a bucket of 0.25 USD to the insertCoins method of the MyMachine component. The blueprint’s logic sees that the correct price has been paid, adds those tokens to a vault, then takes 1 gumball from its gumball vault and passes it back to the caller. It can even send back some change if the caller passed too much USD. With Ethereum’s Solidity-based smart contracts it’s much more complex and risky. In the same machine, the user would call a smart contract to give the machine permission to withdraw from their wallet on their behalf. They would tell the machine they wish to input 0.25 USD. The machine would then call the USD contract to make the withdrawal, then call a gumball smart contract to send the gumball to the user. Finally, it would probably also update an internal cache of the number of remaining gumballs to check for eros. Each one of these processes uses a smart contract, and each one is therefore at risk of being hacked due to a smart contract vulnerability. That’s just a simple example. With DeFi, transactions can be many times more complex, meaning they’re exposed to multiple times the risk. All it takes is one vulnerability somewhere, in any one of numerous smart contracts involved in a transaction, for an attacker to pull off an attack. Conclusion As DeFi grows and its total value locked increases, the risk of exploitation will only increase. If there’s one takeaway we can gather from the stunning amount of crypto that’s been stolen by DeFi hacks, it’s that the need for smart contract security has never been greater. While code audits and bug bounties can help to spot the most obvious vulnerabilities in DeFi, it’s clear that the industry could benefit immeasurably from a radical overhaul based on an infrastructure that’s designed to minimize the number of potential exploits from the get-go. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
4 days agocryptodaily
The Ultimate Guide To Zompot (ZPOT)
There is a new cryptocurrency in town that has been piquing people’s interest, Zompot (ZPOT) is all the rave, but what exactly is this token all about? What is Zompot (ZPOT)? The Zompot (ZPOT) project is built on the Binance Smart Chain infrastructure. It was created to provide its users with opportunities that are secure and multi-optional. Zompot (ZPOT) being built on the BNB smart chain gives it the advantage of a stable and reliable network with cheaper transaction fees. This is a project based on the use of sound strategy and planning with adequate preparation. When using Zompot, you can be certain that your investments are protected from inflation while being on a well-secured platform that also provides fast, secure and flexible transactions. Zompot (ZPOT) will protect its users from the shortcomings that are common in traditional financing. Not only is it good for the blockchain industry, but it was also created to be compatible with the Metaverse. The Zompot (ZPOT) Project also aims to assist businesses in countries that are dealing with the negative effects of some factors in the blockchain world. What Can You Expect From The Zompot (ZPOT) Ecosystem? There are a few things you can expect from the Zompot (ZPOT) ecosystem, one of which is; Security: The cryptocurrency space has experienced the loss of a large sum of money between the time span of 2018-2022, and these are just the incidents that are accounted for. The primary reason for these incidents was the result of hackers that were able to find a way to bypass the safety systems that otherwise surround the blockchain world, but with Zompot, security will be one of the main focuses of the network so the users can safely assume that their assets are being protected. Privacy: The blockchain technology can sometimes be vulnerable to a breach of privacy, with transactional details being leaked because of how visible it is to the public, this leads to user information and data being mishandled or misused but with Zompot, that is something that will be paid extra attention to, so the users of Zombot are apparently safeguarded. What Is The Main Purpose of Zompot (ZPOT)? It is no news that crypto is often a victim of volatility due to its original design and the way the cryptocurrency market operates. This can trigger multiple effects that affect the market, inflation is one of the most common and dangerous one. Zompot (ZPOT), however was created with the use of blockchain technology to combat the challenges that are currently being faced. It was built with the lofty intent of beginning a new world era in both currency and fiat. Zompot's (ZPOT) main goal is to solve the issue of security and privacy in the blockchain industry by providing users with a transparent version of all their transactions. Zompot has claimed that it has found a way to create a secure world for people involved in the blockchain industry and while it is a very promising token, it is still important to do your due research about it should you have any interest in purchasing it. Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice
5 days agocointelegraph
Trend Micro calls out vulnerabilities in metaverse security development
"Illegal or criminal activities are likely to flourish in the darkverse since it will be difficult to track and monitor," says Trend Micro.
5 days agocryptodaily
Hodlnaut is the latest crypto lending platform to halt withdrawals
Following on from Celsius, Voyager, BlockFi and others, Hodlnaut is the latest crypto lending platform to halt withdrawals, token swaps and deposits, citing difficult market conditions. The ongoing liquidity crisis has spread to crypto lender Hodlnaut. The company put out a message to all users on its website. The main reason given was difficult market conditions and an effort to stabilise liquidity. “We understand that this is disappointing news and understand its impact on you. We would like to reassure you that this difficult decision was taken for us to focus on stabilising our liquidity and preserving assets, while we work to find the best way to protect our users’ long-term interests.” The process being followed by Hodlnaut is very much akin to that followed by other distressed crypto lenders in a similar situation. In addition to the actions taken, Hodlnaut has also informed its users that it has withdrawn its licence application with the Monetary Authority of Singapore (MAS), which entails the withdrawal of its token swap feature. While stating that it will continue to pay interest to users until further notice, the platform has also said that it has turned off its social media platforms except for the odd official channel. Its YouTube channel has been deleted, and the personal Twitter account of founder Juntao Zhu has been set to private. In addition, the team page on the Hodlnaut website, which formerly had both founders, five team members, and an advisor, has also been removed. The message to users does say that a recovery plan is being worked on and that an update on this will come out as soon as possible. “We are actively working on the recovery plan that we hope to provide updates and details on as soon as permissible. We are consulting with Damodara Ong LLC on the feasibility and timelines of our intended execution plan and are strategising our recovery plan with our users’ best interests in mind.” The message to users contained a FAQ which stated that potential restructuring options were being explored with the Hodlnaut legal advisors, and that an update would be posted on Friday, 19 August 2022. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
5 days agocointelegraph
Crypto lending platform Hodlnaut suspends services due to liquidity crisis
Hodlnaut avoided 3AC exposure and earlier denied ever buying UST, but several reports and on-chain data have shown that the lending firm at one point owned over $150M worth of UST.
6 days agocoindesk
Crypto Lender Hodlnaut Freezes Withdrawals, Citing Market Conditions
The crypto lender has also withdrawn its application to be regulated in Singapore.
8 days agocryptodaily
Hackers Return $22 Million To Nomad After $190 Million Exploit
Nomad has announced that it has recovered $22 million after it suffered a $190 million hack. Data from Etherscan showed that Nomad had recovered around $22.4 million (11.4%) of the $190 million that was drained during the hack after the team announced a reward. The amount recovered by Nomad is now over double the $9 million that ethical hackers returned to Nomad. Nomad saw more of the stolen funds return after the protocol announced a 10% bounty. A $200 Million Exploit Nomad suffered a serious hack on the 1st of August, as hackers exploited a vulnerability that made it possible to drain nearly all of the protocol’s funds, which totaled around $200 million. Hundreds of hackers, including white hat hackers who intend to return the funds to the protocol, orchestrated the attack. The attack once again brought into focus the security of cross-chain bridges. The team at Nomad confirmed the exploit, stating, “An investigation is ongoing, and leading firms for blockchain intelligence and forensics have been retained. We have notified law enforcement and are working around the clock to address the situation and provide timely updates. Our goal is to identify the accounts involved and to trace and recover the funds.” Source Of The Vulnerability The cross-chain bridge had a critical vulnerability that made its way into the public domain, attracting the attention of would-be hackers. Sources have stated that Nomad developers introduced the vulnerabilityduring a routine smart contract update. Following the exploit, the Nomad team announced that it would pay a 10% bounty reward to any hacker that returned the funds to a designated return address. The team also assured the hackers that no legal action would be taken against any hacker that returned the funds. On its part, Nomad is collaborating with law enforcement officials and agencies to investigate the hacking. It has also announced a partnership with an on-chain analytics firm, TRM Labs, to track the funds across all addresses involved in the attack. Spate Of Crypto Hackings Continue The Nomad exploit registered itself as the 8th-largest crypto hack of all time, as the wave of recent crypto exploits continues to rumble on. According to security firm Chain Analysis, the hack brings the amount stolen from cross-chain bridges to a staggering $2 billion. There were a total of 13 exploits related to cross-chain bridges, out of which the largest was the Ronin attack which saw $615 million stolen. Ronin is linked to the hugely popular game Axie Infinity. In another recent hack, $5.2 million worth of cryptocurrencies were stolen from around 8000 wallets connected to Solana. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
9 days agocryptodaily
More Details Emerge From The Solana Wallet Hack
The multimillion-dollar Solana Wallet hack has been traced back to a private key exploit tied to the Slope mobile wallet app. Solana Fingers Slope Wallet For Attack Investigations into the large-scale exploit that targeted the Solana Wallet has revealed that private key details were “inadvertently transferred” to a third party on the Slope Finance network. This resulted in a vulnerability in the Solana network leading to the loss of around $4.5 million worth of SOL and other cryptos from about 8000 Solana wallets. The exploit started on Tuesday night and continued well into Wednesday, inspiring a team of developers and security auditors to launch preliminary investigations. The findings were reported on Twitter, “After an investigation by developers, ecosystem teams, and security auditors, it appears affected addresses were at one point created, imported, or used in Slope mobile wallet applications…This exploit was isolated to one wallet on Solana, and hardware wallets used by Slope remain secure. While the details of exactly how this occurred are still under investigation, but private key information was inadvertently transmitted to an application monitoring service.” According to the team, the Solana protocol and its cryptography were not compromised. Additionally, users are being advised to switch to hardware wallets to keep funds secure, as these have been immune to the hack. Slope Still Investigating The Slope team has acknowledged the inclusion of Slope wallets in the hack and claims to be looking into the matter. The team has released a statement that, however, does not go too much into the depth of the hack and neither does it take responsibility for the attacks. The statement released by Slope reads, “We have some hypotheses as to the nature of the breach, but nothing is yet firm. We feel the community's pain, and we were not immune. Many of our own staff and founders' wallets were drained. We are still actively diagnosing and are committed to publishing a full postmortem, earning back your trust, and making this as right as we can.” The team has also advised users to create a new wallet with a new seed phrase and transfer all their funds. Phantom Wallet Holders Affected As Well Besides Solana and Slope, Phantom has also faced the effects of the hack. For example, several wallet holders who had previously interacted with a Slope wallet had their Phantom wallets completely drained of SOL and other tokens. The Phantom team reported that the exploits were caused by the complications related to importing accounts to and from Slope. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
10 days agocoindesk
Chainalysis Estimates $2B Stolen From Cross-Chain Bridge Hacks This Year
This week, hackers used a vulnerability on the Nomad bridge to steal $190 million worth of crypto.
10 days agocryptodaily
Crypto Under Siege: ZB Exchange Loses Millions As Spate Of Hackings Continue
2022 seems to be getting worse for the crypto space as the number of crypto attacks, exploits, and scams continue to pile up, with the ZB exchange the latest to fall to hackers. According to PeckShield, the exchange has lost over $4.8 million to hackers. As Adoptions Rise, So Do Exploits With crypto adoption continuing to increase, the risk emanating from malicious entities is also on the rise. More and more crypto exchanges and lenders are falling victim to hackers who look to exploit even the tiniest of vulnerabilities. This despite exchanges spending millions to enhance security. The Latest Victim: ZB Crypto Exchange The ZB cryptocurrency exchange advertises itself as one of the most secure exchanges in the crypto space. However, the exchange, despite robust security measures in place, has become the latest entity in the crypto space to fall victim to the ongoing spate of hackings. According to the latest details available from PeckShield, the exchange has lost around $4.8 million in a coordinated attack. “JUST IN: #Crypto exchange ZB has reportedly been exploited for over $4.8 million.” The exchange had announced that it was pausing withdrawals just before the news broke, with the hackers transferring $4.8 million from the exchange’s hot wallet, which most observers acknowledge is a hack. 21 Different Cryptocurrencies Moved From Exchange Wallet PeckShield published data related to the hack on its Twitter handle, revealing that 21 Different cryptocurrencies were transferred from the exchange’s hot wallet to a particular address. Confusion reigned among users as the exchange had also halted withdrawals prior to news of the exploit coming into the public domain. The stolen cryptocurrencies were transferred to a host of decentralized exchanges and were sold for 2224 ETH. The address linked with the hack still holds the 2224 ETH in question. Another wallet address linked to the reported hack also has around $1 million worth of assets. Pausing Withdrawals The ZB exchange had earlier paused withdrawals after issuing a brief statement. At the time of writing, the exchange has not commented on the ongoing exploit. “Due to the sudden failure of some core applications, it still takes time to troubleshoot the problem. Deposit and withdrawal services are now suspended. Please do not deposit any digital currency before recovery. Any change is subject to the announcement.” Exploits On The Rise This is the latest hacking in a long list of hacks that have occurred over the past few days. Right at the start of August, cross-chain bridge Nomad suffered an exploit, with the protocol losing nearly all its funds in the exploit, losing nearly $200 million in the attack. Only a couple of days later, the Solana ecosystem suffered a multimillion-dollar hack, with users having their funds drained from their hot wallets. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
10 days agocointelegraph
GitHub faces widespread malware attacks affecting projects, including crypto
The developer who found the vulnerability requested developers to sign their revisions with the GPG key to ensure all their revisions on the project can be verified.
10 days agocointelegraph
Dollars on the Lightning Network: a boon for emerging markets?
An innovation on the Bitcoin Lightning Network (LN) could shelter users from the price volatility of BTC by providing access to dollars.
11 days agocointelegraph
Nomad reportedly ignored security vulnerability that led to $190M exploit
The altcoins that were stolen in the Nomad bridge hack suffered as much as 94% decline in price after the exploit.
11 days agocryptodaily
Crypto trading platform Robinhood cuts staff as a third of customers leave
The so-called “crypto winter” continues to bite deep into the sector, as crypto trading platform Robinhood becomes the latest to divest itself of staff as its revenues plummet. Robinhood, the one time go-to platform for the average retail investor wanting to have a dabble in crypto, is having to hunker down and dig deep in order to survive. Fresh on the heels of a $30 million fine from the New York regulator for failures in the areas of anti-money laundering and cybersecurity, the company has now announced further cuts, as CEO Vlad Tenev admits, the April job reductions “did not go far enough”. The current lay-offs are the most severe yet and the company announced that nearly 25% of the workforce would be let go. This also comes as the quarterly reported revenues for Robinhood came in at $318 million, which was 44% down on the $565 million in the same quarter last year. On the staffing situation, CEO Tenev said: "Last year, we staffed many of our operations functions under the assumption that the heightened retail engagement we had been seeing with the stock and crypto markets in the Covid era would persist into 2022," He added: "In this new environment, we are operating with more staffing than appropriate. As CEO, I approved and took responsibility for our ambitious staffing trajectory - this is on me." The latest cuts will affect 780 staff, and Tenev said his company would offer “wellness” support to any who asked for it. He stated that the staff could stay in position until the 1 October, and then claim a severance package and be given help in finding another job. In the past, Robinhood has not exactly covered itself in glory. In January 2021 the platform caused outrage when it restricted customers from buying shares in GameStop, which was suffering a short squeeze. Many commentators said that Wall Street was for once on the wrong side, and that Robinhood intervened to protect it. The company has also been criticised in the past for listing the extremely risky cryptocurrency meme stocks, which were pushed on social media, and became very popular with the less educated retail investors. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
11 days agocryptodaily
Solana Wallets Compromised In Multimillion-Dollar Hack
2022 looks set to be one of the worst years for the crypto markets, which were already dealing with significant bear market sentiment. Now news has emerged that several hackers have targeted the Solana ecosystem, and losses are nearing the billion-dollar mark. Thousands of users have reported that their funds have been drained from their hot wallets without their knowledge. An Unprecedented Attack Thousands of users took to Twitter to report their SOL being stolen from connected hot wallets such as Phantom, Slope, and TrustWallet. With the attack still ongoing, details remain sketchy, but over 8000 wallets have been compromised, according to data sourced from blockchain auditors OtterSec. Several Solana addresses have been linked to the ongoing attack, with the wallets in question amassing millions worth of SOL, SPL, and other Solana-based tokens drained from unsuspecting wallets. “UPDATE: Over 8,000 #Solana wallets have fallen victim to the ongoing hack, with more increasing by the minute.” Details Remain Sketchy The exact cause of the attack remains unknown at present, although community members are scrambling to trace the source of the attack. However, what is clear is that the attack seems to have impacted mobile wallet users the most, with the attacker somehow managing to sign transactions on behalf of users and wallet owners. This suggests that there could be a third-party service that could have been compromised in a supply-chain attack. The private-key exploit resulted in the hacker stealing native SOL and SPL tokens from hot wallets, most of which had been inactive for more than six months, with Phantom and Slope wallet users being hit the hardest. Twitter user foobar shed some light on the methodology used by the attackers, stating that while the cause of the exploit was unknown, it could be the result of an upstream dependency supply chain attack. He also stated that revoking prior approvals would not help ensure the security of the funds, adding that the only viable option was moving funds to an offline wallet. However, if a hardware wallet is not an option, users can also shift their assets to a reliable centralized exchange for the time being. Solana Community Reacts The attack will undoubtedly reignite the debate around hot wallets and their security. Hot wallets are connected to the internet at all times, and while this does ensure some convenience, allowing users to send, receive, and store crypto with ease, it is also susceptible to attacks. Cold wallets, which are offline and must be connected to a device to carry out transactions, are considered much more secure. While the concerned parties are looking into the exploit, worried users reached out to wallet providers for an update and clarity on the source of the attack. Phantom did provide users an update on Twitter, stating that it was working to figure out the cause of the attack. “We are working closely with other teams to get to the bottom of a reported vulnerability in the Solana ecosystem. At this time, the team does not believe this is a Phantom-specific issue. As soon as we gather more information, we will issue an update.” Other community members speculated that the exploit could be related to Magic Eden’s Solana-based NFT marketplace, although this link remained doubtful as the attack continued. So far, Magic Eden has not commented on the situation but did tweet out a warning, advising users to revoke permissions from the wallet and move assets to a cold wallet. “There seems to be a widespread SOL exploit at play that’s draining wallets throughout the ecosystem Here’s what you can do right now to best protect yourself 1. Go to >Settings on your @phantom wallet 2. >Trusted Apps 3. >Revoke Permissions for any suspicious links.” In a later tweet, it added that it was looking into the exploit to determine its cause. Solana Price Feels The Pressure Currently, the primary discourse across crypto Twitter remains around mitigating the damage from the exploit, with experts urging users to transfer their assets to a cold wallet. Solana’s price has also dropped significantly over the past few hours and is down considerably. While the price has recovered from its initial slump, it could drop again as the attack plays out. A History Of Outages The Solana ecosystem has had a torrid 2022, with regular outages plaguing the “Ethereum Killer.” In January, Solana crashed for a staggering 48 hours, forcing users to liquidate their holdings and fulfill their loan obligations. The outage was caused due to bots spamming the network, leading to significant congestion on the network, which led to the outage. As a result, DeFi users were unable to top up their loan collateral, forcing them to liquidate their holdings. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
11 days agocointelegraph
Aave devs propose freezing Fantom integration, citing lack of traction and potential vulnerability
The Fantom market on Aave v3 adds just $30 each day to the DeFi protocol's treasury; developers are also concerned that the integration creates security risks.
15 days agocryptodaily
IMF Warns of Further Cryptocurrency Sell Offs and More Coins Failing
As the global cryptocurrency market sees a speedy decline in the value of many coins, the International Monetary Fund (IMF) has warned that the situation might get worse as more may see more sell-offs and more coins might fail. Tobias Adrian, director of Monetary and Capital Markets for the IMF warned in an interview with Yahoo Finance on Wednesday, of further selling pressure in the market and more cryptocurrency token failures. Adrian said in his interview, We could see further selloffs, both in crypto assets and in risky asset markets, like equities. He continued, There could be further failures of some of the coin offerings — in particular, some of the algorithmic stablecoins that have been hit most hard, and there are others that could fail. The director for the IMF also expects crypto to drop even further amid a recession. When the cryptocurrency Terra and stablecoin TerraUSD imploded in May, it prompted U.S. Securities and Exchange Commission Chairman Gary Gensler to warn that a lot of cryptocurrency tokens will inevitably fail. The executive warned about the potential for fiat-backed stablecoins to experience runs, something that Treasury Secretary Janet Yellen and the Federal Reserve have also cautioned about. Adrian spoke about Tether in particular and stresses, There’s some vulnerability there because they’re not backed one to one. He adds that stablecoins are “backed by somewhat risky assets.” Director Adrian too expressed the imminent need for regulations that would protect investors and the financial system, largely in part due to the sheer number of cryptocurrencies out there, Regulating the coins themselves is going to be difficult, but regulating the entry points such as exchanges and wallet providers to invest in those coins, that’s something that is very concrete and very feasible. Earlier in the week, the IMF issued a statement saying that the broader economic stability is worsening as the inflation rates in the United States grow increasingly high. They added that factors such as a recession and inflation pose major risks to the greater financial system, but cryptocurrencies, especially Bitcoin, don’t pose any such risks, they in actual fact give the market a boost. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
19 days agocryptopotato
Sayfer Identifies Security Vulnerability Affecting 10% of All NFT Projects
[PRESS RELEASE – Tel Adashim, Israel, 25th July 2022] Cybersecurity firm Sayfer has identified a new vulnerability affecting 10% of all NFT projects. The so-called BadReveal vulnerability attacks the minting process of non-fungible tokens, which are meant to be generated randomly. By exploiting the BadReveal bug, an attacker could claim the best and most valuable […]
19 days agocoindesk
Chia Network Reissues Its Asset Token to Address Security Vulnerability
The smart transaction platform will upgrade its Chia Asset Token (CAT) to a new token (CAT2) to address a potential security weaknesses.
36 days agonulltx
MandalaFON – The NFT Collection Advocating for Wellness & Positivity That Sold Out Less Than Two Weeks Before Launching
The NFTs are designed to deliver messages based on the Japanese art of Kodo. These messages will encourage NFT holders to find a sense of peace and mindfulness in their life The series launched on OpenSea and was fully revealed at a live event at the Sheraton Towers hotel in Singapore, the first physical launch […] The post MandalaFON – The NFT Collection Advocating for Wellness & Positivity That Sold Out Less Than Two Weeks Before Launching appeared first on NullTX.
38 days agocoindesk
Nic Carter vs. The Bitcoin Maximalists
If maximalism has become nothing but a refusal to think through bitcoin’s actual usefulness, it has become an intellectual dead end. No surprise, then, that the intellectuals are jumping ship.
45 days agocointelegraph
Bitcoin Lightning Network developer updates node software with Taproot support
The latest software release, named lnd 0.15 beta (v0.15-beta), aims to empower developers to create solutions for more use cases by leveraging the Bitcoin network’s capabilities.

About LINK

The live price of LINK (LN) today is 48.0733 USD, and with the current circulating supply of LINK at 6,168,502.33 LN, its market capitalization stands at 296,540,059 USD. In the last 24 hours LN price has moved -0.5401 USD or -0.01% while 227,533 USD worth of LN has been traded on various exchanges. The current valuation of LN puts it at #142 in cryptocurrency rankings based on market capitalization.

Learn more about the LINK blockchain network and how it works or follow the price of its native cryptocurrency LN and the broader market with our unique COIN360 cryptocurrency heatmap.

LINK Price48.0733 USD
Market Rank#142
Market Cap296,540,059 USD
24h Volume198,178 USD
Circulating Supply6,168,502.33 LN
Max SupplyNo Data
Yesterday's Market Cap299,369,920 USD
Yesterday's Open / Close49.0721 USD / 48.532 USD
Yesterday's High / Low49.7234 USD / 48.181 USD
Yesterday's Change
-0.01% ( 0.5401 USD )
Yesterday's Volume227,532.88 USD
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