NFT News Daily Today TheBitTimes.com

The bug Onyx Protocol hacker exploited to steal $2.1 million was previously used by a hacker to extort $7 million from Hundred Finance. Decentralized peer-to-peer lending protocol Onyx Protocol lost roughly $2.1 million in an exploit of a market with no liquidity that was deployed on Oct. 27.  The Onyx Protocol hacker exploit ed a known bug, a rounding issue behind the popular CompoundV2 fork, explained blockchain investigator PeckShield soon after alerting about the hack that went unnoticed by the protocol. #PeckShieldAlert @OnyxProtocol has been exploit ed for ~2.1M pic.twitter.com/5Z50tCg6MD — PeckShieldAlert (@PeckShieldAlert) November 1, 2023 The alleged liquidity lacking oPEPE market was “abused with donation to borrow funds from other markets with liquidity,” found PeckShield’s independent investigation on the matter. “The donated funds were then redeemed by exploiting the known rounding issue.” Previously, on April 16, an attacker exploit ed the same bug to steal $7 mi...

Twenty-seven percent of the funds stolen in the July 30 exploit have yet to be returned. Binance Labs, the venture arm of cryptocurrency exchange Binance, has invested $5 million in Curve (CRV), the namesake token of the decentralized stablecoin trading platform. “Curve is the largest stableswap and second-largest DEX [decentralized exchange], with approximately $2.4B in total value locked and $215M in daily volume at the time of writing," Binance Labs said in the Aug. 10 announcement. Yi He, Binance’s co-founder and head of Binance Labs, said the firm is pledging its full support to the DEX “given recent events that have impacted the protocol."  The firm says in exchange for the investment, Curve will deploy to BNB Smart Chain. The protocol currently operates on multiple chains, having been originally based on Ethereum, and serves as one of decentralized finance's (DeFi's) biggest market makers with several hundred pools in use. On July 30, Curve was drained of $7...