Coinbase Launches ‘Smart Wallets’ in Bid to Simplify Crypto Onboarding

June 5, 2024 Bitcoin.com

bitcoin.com

Coinbase has introduced “smart wallets,” aimed at easing the entry into blockchain activities by eliminating complex processes and high fees associated with traditional crypto wallets. This new offering seeks to onboard over one billion users through simplified, gasless transactions and multi-chain support. Coinbase Introduces ‘Smart Wallets’ On June 5, 2024, Coinbase introduced its “smart wallets” […]

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

Blockchain-powered audits with community in mind: Hats Finance joins Cointelegraph Accelerator

June 5, 2024 Coin Telegraph

Blockchain

Hats Finance, a community-focused audit platform that enables permissionless on-chain competitions and bug bounties has joined the Cointelegraph Accelerator program.

Cointelegraph has announced that Hats Finance, a community-focused platform enabling permissionless on-chain audit competitions and bug bounties, has joined the Cointelegraph Accelerator program.

Smart contracts, tiny programs that automate and execute an on-chain agreement, are the backbone of decentralized finance (DeFi). This is why, eliminating any vulnerability via regular audits is vital to prevent attacks against and ensure seamless operation for related decentralized apps (DApp) and Web3 as a whole.

However, reports show that during the first quarter of 2024, only 44% of Web3 projects went through smart contract audits. Avoiding audits may lead to major security risks, as evident in most hacked projects not having audits. And with smart contracts getting more complex due to new use cases such as real-world assets (RWAs) and modular wallets, the need for effective audits is higher than ever.

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

Decentralized Exchange Velocore Confirms Breach, Reports $6.8 Million in Financial Losses

June 3, 2024 Bitcoin.com

Decentralized Exchange Velocore Confirms Breach, Reports .8 Million in Financial Losses

bitcoin.com

The decentralized exchange Velocore confirmed a breach on its platform on June 2, during which attackers stole ethereum tokens worth an estimated $6.8 to $10 million. The Velocore team is actively pursuing the hackers and is open to negotiating a settlement. Hackers Exploited Vulnerabilities Within the CPMM Pool Contract The decentralized exchange Velocore on Zksync […]

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

US Navy launches ‘PARANOID’ blockchain security tech to private sector

June 2, 2024 Coin Telegraph

Coin Telegraph

The government seeks a collaboration to research and develop the technology further.

The United States Navy is seeking private sector partners for a cooperative research and development agreement (CRADA) to help advance its proprietary “PARANOID” blockchain technology.

PARANOID (Powerful Authentication Regime Applicable to Naval Operational Flight Program Integrated Development) is a blockchain-based system for securing software against cyberattacks during development and deployment.

The Naval Air Warfare Center’s Aircraft Division (NAWCAD) at Lakehurst, New Jersey, invented and developed PARANOID to secure avionics software for the U.S. Navy but soon thereafter realized its applicability to any software development endeavor wherein security is a factor.

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

Study: Crypto Losses 28% Lower in May; Attackers Primarily Targeting Defi Platforms

June 2, 2024 Bitcoin.com

bitcoin.com

In May, cybercriminals were less successful in their attacks on decentralized platforms, resulting in losses attributed to hacks and fraud incidents amounting to approximately $52.4 million. During the same period last year, digital assets worth $59.3 million were lost to similar attacks. Gala Games, which incurred a loss of $21 million, and Sonnefinance with $20 […]

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

Security-Focused Crypto ISAC Debuts With Founding Members Including Coinbase, Kraken, Circle

May 30, 2024 Bitcoin.com

Bitcoin

The Crypto ISAC (Information Sharing and Analysis Center) launches on Wednesday as a 501(c)(6) not-for-profit association dedicated to bolstering security within the cryptocurrency ecosystem. Its founding members include Aleo, Circle, Coinbase, Consensys, Evertas, Fireblocks, Hedera, Kraken, Offchain Labs, Red Balloon Security, Ribbit Capital, Solana Foundation, and Trail of Bits. Its mission is to foster collaboration […]

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

‘Yield-bearing stables’ are not money or stablecoins: Agora’s van Eck

May 28, 2024 Coin Telegraph

Agora

Yield-bearing stablecoins are far more likely to be classed as security products in many countries and would restrict customer reach, argues the son of Jan van Eck.

Stablecoin issuers that offer a yield-bearing element to give holders passive income are missing the point of a stablecoin’s core mission, argues Nick van Eck, CEO of stablecoin issuer firm Agora.

Instead, these firms should focus on utility, liquidity and means of transaction in a way that reaches as many individuals and businesses as possible, the son of investment management maestro Jan van Eck explained in a May 27 Medium post.

Yield-bearing stablecoins have offered a new dimension for decentralized finance users looking to earn interest, but van Eck says such products will likely be classed as security products in many countries and, therefore, restrict customer reach.

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

Coinbase, Ripple, Meta Join Forces to Fight Crypto Scams, Including Pig Butchering

May 23, 2024 Bitcoin.com

Bitcoin

Leading crypto and tech companies, including Coinbase, Ripple, Meta, Kraken, and Gemini, have formed a coalition to combat online fraud, including crypto scams like the pig butchering scheme. “We are dedicated to disrupting emerging online scams through collaboration, information sharing, and enhanced consumer education,” said Coinbase’s chief security officer. ‘Tech Against Scams’ Coalition Established Several […]

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

Prometheum launches Ether custody service that treats ETH as a security: Report

May 21, 2024 Coin Telegraph

aaron kaplan

The digital assets platform soft-launched its controversial Ethereum custody service on May 17 and is targeting a full launch next month.

Digital asset trading and custody firm Prometheum has reportedly soft-launched its controversial Ether (ETH) custody service, which treats digital assets as security.

According to a May 20 report from Fortune, the custody solution has been rolled out to a few select companies on May 17, with a full-scale launch expected to take place in June.

Prometheum is targeting its services toward asset management firms, hedge funds, banks and registered investment advisors and aims to expand to retail clients later in 2024.

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

Solana Meme Coin Marketplace Pump.fun Issues $1.9 Million Exploit Postmortem, Discloses Former Employee Involvement

May 17, 2024 Bitcoin.com

Solana Meme Coin Marketplace Pump.fun Issues .9 Million Exploit Postmortem, Discloses Former Employee Involvement

bitcoin.com

Pump.fun, a leading Solana-based marketplace and deployment tool for meme coins, issued a postmortem on the exploit that occurred on May 16. The team stated that a former employee took advantage of its position to misappropriate 12.3K SOL, worth $1.9 million. An X user nicknamed Staccoverflow, confirmed to be part of pump.fun’s team, declared he […]

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