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Cryptocurrencydefi

All articles tagged with #cryptocurrencydefi

cryptocurrencydefi1 year ago

"Ethereum's Dencun Upgrade: Making DeFi More Affordable"

Ethereum's upcoming Dencun upgrade, including EIP-4844, is set to significantly reduce transaction fees on layer 2 blockchains, making DeFi activities much cheaper. MakerDAO is adjusting borrowing rates after its peg-stability mechanism nearly ran out of funds, and Jito Labs has suspended its mempool to prevent MEV bots from exploiting Solana traders. Additionally, the demand for US dollar leverage in DeFi is increasing, as evidenced by the high utilization of lending protocol Compound's USDC pool.

via DLNews|
#cryptocurrencydefi#defi#dencun-upgrade
cryptocurrencydefi2 years ago

"DeFi Ecosystem Vulnerable to Vyper Stress Tests"

A critical vulnerability in the Vyper programming language has exposed several decentralized finance (DeFi) protocols to stress tests, resulting in the theft of millions of dollars worth of cryptocurrencies. The vulnerability, caused by a malfunctioning reentrancy lock, targeted liquidity pools on the Curve Finance protocol. Pools with wrapped Ether (wETH) are at risk of attack. The incident has affected multiple projects, including Alchemix, PEGd, Metronome, and Curve DAO, with significant outflows reported. The price of CRV has also dropped, potentially impacting Aave's protocol.

via Cointelegraph|
#cryptocurrencydefi#curve-finance#defi
cryptocurrencydefi2 years ago

DeFi Projects Lose Millions in Curve Pool Exploits

Attackers exploited a vulnerability in liquidity pools on the Curve decentralized finance platform, stealing over $24 million worth of cryptocurrency. The vulnerability was traced back to a third-party programming language called Vyper, which caused a malfunctioning reentrancy lock. Several projects, including JPEG'd, Alchemix, and Metronome DAO, were affected by the attack. Reentrancy attacks, where a smart contract interacts with another contract before fully executing, have been a common vector for attackers. The incident highlights the importance of proper design and development to avoid such vulnerabilities.

via Decrypt|
#cryptocurrencydefi#curve#cybersecurity