Hypernative Secures $16 Million in Series A Funding to Enhance Web3 Security

September 3, 2024 Bitcoin.com

ERC-6900 Website Launches, Co-Authored by Ethereum Foundation, Alchemy, Circle and Quantstamp

June 4, 2024 Bitcoin.com

Quantstamp introduces tool to detect protocols’ flash loan attack vulnerability

August 23, 2023 Coin Telegraph

The new service, called Economic Exploit Analysis, uses University of Toronto research and will work on any EVM-compatible blockchain.

Blockchain security provider Quantstamp has launched an automated service to detect flash loan attack vectors in smart contracts. The new service is being called Economic Exploit Analysis and is based on research done at the University of Toronto.

Economic Exploit Analysis will be available to protocols, whether they have been deployed or not. It will enhance Quantstamp’s audits by identifying flash loan attack vulnerabilities in a client’s code. The service will be available on any Ethereum Virtual Machine (EVM)-compatible blockchain and is non-exhaustive — that is, it may not detect all attacks.

In decentralized finance (DeFi), a flash loan is an unsecured loan that has to be taken out and paid back in the same transaction. Flash loans can be used to take advantage of price differences between crypto exchanges (arbitrage), debt refinancing and similar actions. A flash loan attack is the manipulation of DeFi protocols in ways developers did not foresee. Quantstamp explained:

“Flash loan attacks can drain the entire TVL (total value locked) of a DeFi protocol, and their complicated nature combined with DeFi’s composability means these attack vectors often evade conventional audits.”

The need for greater security in DeFi markets is garnering increasing attention. The problem of flash loan largest attacks, in particular, was brought into focus when Euler Finance was attacked in March. Last year, over $2 billion worth of crypto was stolen in hacks and exploits.

Another day, another speaker for #L2Warsaw - @jgorzny, Head of L2 Scaling at @Quantstamp!

He'll discuss their new rollup security framework and its aim to standardize language for both users & developers.

Title: "Rollup Security Framework"
12:00 PM pic.twitter.com/3rW9UFZZoS
— L2BEAT (@l2beat) August 18, 2023

Coinbase’s new Base layer-2 is also addressing security vulnerabilities. It is developing a monitoring tool that it is calling Pessimism to “provide prompt notification of anomalies in the protocol and network, such as account balance irregularities, contract events, or disparities between L1 and L2 states,” it announced in a recent blog post.

Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.

Magazine: The trouble with automated market makers

SEC files charges against Quantstamp for $28M initial coin offering

July 26, 2023 Coin Telegraph

SEC files charges against Quantstamp for M initial coin offering

Coin Telegraph

Quantstamp has agreed to settle charges and will repay proceeds from its 2017 ICO that raised $28 million.

Blockchain security firm Quantamp is set to return $28 million raised in a 2017 initial coin offering (ICO) following charges brought by the United States Securities and Exchange Commission.

The U.S. agency announced that it had formally charged the California-based firm on July 21 for conducting an unregistered ICO of “crypto asset securities.” According to the SEC’s statement, Quantstamp agreed to settle the charges.

The SEC’s order outlines how Quantstamp’s ICO, which took place in October and November 2017, raised over $28 million by selling its native QSP tokens to some 5,000 investors.

The platform intended to use its ICO proceeds to “develop and market” its automated smart contract security auditing platform. The SEC order highlighted its belief that Quantstamp emphasized the “large market potential” of its service, which led QSP buyers to expect the value of their tokens to appreciate in value.

According to the SEC, Quantstamp failed to register its offering and sale of QSP tokens, which the agency deemed to be securities.

“The SEC’s order finds that Quantstamp violated the registration provisions of the federal securities laws. Without admitting or denying the SEC’s findings, Quantstamp agreed to a cease-and-desist order and to pay disgorgement of $1,979,201, prejudgment interest of $494,314, and a civil penalty of $1 million.”

The outcome of the order also provisions the establishment of a “Fair Fund” to return funds to affected investors. The firm also agreed to transfer its own QSP token holdings to the Fair Fund administrator, with the tokens set to be “permanently disabled or destroyed.”

The SEC order also notes that Quantstamp no longer operates or actively supports the automated smart contract security auditing following its deployment in June 2019.

Cointelegraph has reached out to Quanstamp for further details following the SEC’s Order.

Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.

Gamefi-Focused Oasys Blockchain Launches Mainnet With Support of Sega, Ubisoft, and Bandai Namco

October 27, 2022 Bitcoin.com

Coinbase Custody Adds Support for Eight Small-Cap Altcoins As Crypto Markets Stall

June 2, 2022 The Daily Hodl

QSP, XDB and AST post double-digit gains amid sideways moving market

April 15, 2022 Coin Telegraph

Altcoin Watch

Quantstamp, DigitalBits and AirSwap climb higher as the wider market stagnates and traders take an early weekend in observance of Good Friday.

Activity across the cryptocurrency market has been largely subdued on April 15 as traders in the United States have taken an early weekend thanks to the closure of financial markets for the observance of Good Friday.

A survey of the top 20 tokens indicates a relatively flat trading day, with Bitcoin (BTC) clinging to support above $40,000. Several lower-ranking altcoins managed to post double-digit gains on the back of recent protocol developments.

*Top 7 coins with the highest 24-hour price change. Source:* *Cointelegraph Markets Pro*

Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were Quantstamp (QSP), DigitalBits (XDB) and AirSwap (AST).

Quantstamp launches NFT Combinator

Blockchain security and code audit provider Quantstamp led the altcoin charge as its token price spiked 35% on April 15 to reach a daily high of $0.0804.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for QSP on April 14, prior to the recent price rise.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.

*VORTECS™ Score (green) vs. QSP price. Source:* *Cointelegraph Markets Pro*

As seen in the chart above, the VORTECS™ Score for QSP spiked into the green and hit a high of 76 on April 14, around three hours before the price increased 35% over the next day.

The move higher for QSP follows the launch of NFT Combinator, a new platform created by Quantstamp that is designed to help incubate up-and-coming digital artists and help them launch their early collections.

DigitalBits partners with David Beckham

DigitalBits is a protocol layer blockchain that is specifically designed to support brand currencies and consumer digital assets.

Data from Cointelegraph Markets Pro and TradingView shows that the price of XDB has climbed 28% from a low of $0.317 on April 14 to an intraday high at $0.404 on April 15, as its 24-hour trading volume spiked 162%.

*XDB/USDT 4-hour chart. Source: TradingView*

XDB's momentum was sparked by the signing of well-known footballer David Beckham as the global ambassador for DigitalBits to help spread awareness of the project around the world.

Airswap launches on Avalanche

The Airswap protocol is a developer-focused decentralized autonomous organization (DAO) that specializes in the creation of decentralized trading systems.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for AST on April 12, prior to the recent price rise.

*VORTECS™ Score (green) vs. AST price. Source:* *Cointelegraph Markets Pro*

As shown in the chart above, the VORTECS™ Score for AST hit a high of 76 on April 12, around 60 hours before the price increased 24% over the next day.

The price reversal for AST follows the March 30 launch of AirSwap v3 and the protocol's April 15 integration with the Avalanche network, which offers AirSwap users lower transaction fees when performing token swaps.

The overall cryptocurrency market cap currently stands at $1.877 trillion and Bitcoin’s dominance rate is 40.9%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Crypto Giant Coinbase Lists Three Low-Cap Altcoins, Spurring Major Price Volatility

February 3, 2022 The Daily Hodl

Five proposed crypto class actions over unregistered securities dismissed in NY

April 29, 2021 Coin Telegraph

Bibox

Quantstamp, Status Research, Civic Technologies, HDR Global Trading and Kaydex are off the hook, after five securities related lawsuits were dismissed in New York Courts earlier this week.

Five proposed class-action lawsuits against crypto firms have been voluntarily dismissed without prejudice in New York federal courts — without costs or attorney fees to any party.

Quantstamp, Status Research, Civic Technologies, HDR Global Trading, and Kaydex are off the hook, however related cases are ongoing.

The five class-action lawsuits dismissed on April 27 are part of a batch of 11 filed by Law firms Selendy & Gay PLLCRoche Freedman a year earlier. The lawsuits accused several crypto firms of causing investor harm by selling digital assets that were allegedly unlicensed securities without brokerage licensing, misleading investors, and engaging in market manipulation.

However the plaintiffs were unable to provide strong evidence of damages caused to investors from the alleged sale of unlicensed securities, and two prior court rulings in favor of BProtocol and Bibox reportedly paved the way for the dismissals. Within days of the Bibox ruling, all five legal teams had flagged the decision to the judges overseeing their cases.

Cases against Binance, Kucoin, Tron and HDR Global’s Bitmex remain in play according to court filings.

In a blog post yesterday, Director of Marketing Nancy Li for decentralized identity firm Civic Technologies welcomed the end of proceedings:

“The dismissal of this case signals the end of a lengthy and hard-fought process for Civic. During the past year plus the company remained confident that we would prevail, not just on behalf of Civic, but in support of the crypto ecosystem overall.”

Li added, “Nonetheless, sometimes being on the right side of an argument is not enough (and we were right), so it is with a certain sense of vindication that we tick this one in the win column for Civic and for crypto."

The ongoing case against China-based blockchain software developer Tron Foundation may end with similar results with claims the lawsuit was filed outside the statute of limitations deadline.

Tron filed a motion to dismiss the “fatally flawed” lawsuit on Dec. 15, arguing that plaintiffs failed to allege harm, and that they continued to buy TRX after the SEC released the April 2019 framework on securities.

"Had plaintiffs read the white paper, they would have seen that Tron warned that although TRX was not intended to be a security, future government oversight or regulatory actions could affect Tron and the TRX token, including the 'price and stability' of the token and its use on the blockchain," the motion said.

Paving the way for this week's dismissals was a securities fraud lawsuit against Israel-based Bancor over its BProtocol Foundation which was dismissed in February due to the plaintiff's failure to show damages caused, with the court also citing a lack of personal jurisdiction.

Earlier this month the class action aimed at Bibox was thrown out, after the complaint was filed outside of the statute of limitations deadline, with the judge also noting the plaintiff lacked standing on claims against five tokens they didn’t purchase, and failed to show injury caused on other class members who did purchase the tokens.

Quantstamp

Quantstamp launches NFT Combinator

DigitalBits partners with David Beckham

Airswap launches on Avalanche

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