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🗞 DeFi Protocols Cream Finance, Alpha Exploited in Flash Loan Attack; $37.5M Lost
Decentralized finance protocols (DeFi) Cream Finance and Alpha Finance were victims of one of the largest flash loan attacks ever Saturday morning, resulting in a loss of funds totaling $37.5 million, according to transaction details on Etherscan.
Alpha Finance then posted its own announcement, saying its Alpha Homora V2 product was the root cause. The company confirmed that it is working with DeFi guru Andre Cronje and Cream Finance to investigate the incident, and that the loophole had been fixed. It also said that they “have a prime suspect” in mind.
Earlier, Cream Finance tweeted an update on the incident saying that asset borrowing from its recently launched Iron Bank lending feature had been suspended. That tweet has since been deleted.
This is the second attack on a DeFi protocol in the last two weeks. Cronje’s Yearn Finance suffered an an exploit in one of its DAI lending pools, according to the decentralized finance protocol’s official Twitter account. That exploit drained $11 million.
🗞 ETH 2.0 is Now Secured by More Than 3 Million ETH
There's now 3 million ETH securing ETH 2.0.
That's worth about $5.4 billion, at today's prices.
ETH 2.0 is the next generation of the Ethereum blockchain.
The amount of ETH securing Ethereum 2.0 had just surpassed 3 million, or $5.4 billion, according to data from Glassnode.
What is ETH 2.0?
ETH 2.0 is the next generation of the Ethereum blockchain that should, if all goes to plan, make the whole thing cheaper, quicker and more environmentally friendly.
One of the largest changes involves moving away from a proof-of-work consensus mechanism, which relies on power-hungry miners to process transactions.
This is what the Bitcoin blockchain uses: analysis from Cambridge University showed that Bitcoin miners consumed more electricity than the entirety of Argentina, the South American country with a population of 45 million.
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🗞 Morgan Stanley Unit Considers Bitcoin Investment: Bloomberg
Morgan Stanley’s $150 billion Counterpoint Global investment unit is considering placing a bet on bitcoin, according to a report by Bloomberg, which cited people familiar with the matter.
In order to move ahead, an investment would need approval by the firm and regulators, Bloomberg noted.
If true, this investment would not be Morgan Stanley's first exposure to the leading cryptocurrency. Already, it has a nearly 11% stake in the bitcoin-laden business intelligence company MicroStrategy, per CoinDesk's reporting.
🗞 Daily Crypto Calendar, February, 14th💰
Qtum (QTUM)
"-Airdrop schedule: 21.2.13 snapshot execution / 21.2.14 QIAD airdrop / Smart contract valid for 2 weeks from 21.2.14."
Stafi (FIS)
"$FIS will be listed on @BiKiEnglish, users who participate in liquidity mining in FIS/USDT will receive mining pool rewards..."
ZKSwap (ZKS)
"We are thrilled to announce that ZK-Rollups based layer-2 AMM DEX @ZKSwap will be officially launched at 20:00 on 14th Feb (GMT+8)!!!"
Rapids (RPD)
Celebrate #Valentines2021 with #RapidsNetwork! Join us this #Valentines for our special events ran by @RapidsOutreach and @RaptureTV_.
MANTRA DAO (OM)
"OM V2 Migration Compensation Airdrop Extended to Feb 15th!"
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