Author: Yeek.io

Loopscale, a decentralized finance (DeFi) protocol built on Solana, suffered a major setback over the weekend, losing more than $5.8 million in an exploit, just two weeks after its official launch.On April 26, attackers exploited a vulnerability in one of Loopscale’s lending markets, siphoning off approximately 5.7 million USDC and 1,200 Solana (SOL), according to Loopscale co-founder Mary Gooneratne. The losses account for nearly 12% of the protocol’s total value locked (TVL).Loopscale temporarily halted its lending operations following the incident but later re-enabled limited functions such as loan repayments, top-ups, and loop closings. Vault withdrawals and other key features remain…

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Memecoins have long been misunderstood, and amongst their great utility, there is an emerging perception that memecoins are simply conduits for celebrity-driven pump-and-dump schemes designed to rip the masses off. Despite this perception, and whilst some memecoins have certainly channelled a lot of capital into a small number of hands, this is far from the norm. Many memecoins can, and do, offer utility to users—from fractionalisation to predictive markets. The focus must be on utility More must…

1Nike is facing a class action lawsuit from buyers of non-fungible tokens (NFTs) tied to its RTFKT project. The lawsuit, filed Friday in federal court in Brooklyn, claims buyers suffered major losses when Nike shut down the RTFKT unit.According to the complaint, buyers say they would not have purchased the NFTs at the prices they did if they had known the project would eventually close. The shutdown, they argue, caused demand and prices for the NFTs to fall sharply.The lawsuit seeks more than $5 million in damages for alleged violations of consumer protection laws in New York, California, Florida, and…

Investment firms with Bitcoin-focused treasuries are front-running global Bitcoin adoption, which may see the world’s first cryptocurrency soar to a $200 trillion market capitalization in the coming decade.Institutions and governments worldwide are starting to recognize the unique monetary properties of Bitcoin (BTC), according to Adam Back, co-founder and CEO of Blockstream and the inventor of Hashcash.“$MSTR and other treasury companies are an arbitrage of the dislocation between the bitcoin future and todays fiat world,” Back wrote in an April 26 X post.“A sustainable and scalable $100-$200 trillion trade front-running hyperbitcoinization. scalable enough for most big listed companies to move to…

PEPE was wrestling with a strong resistance that it hadn’t broken in nearly two months. Psychologically, the frogs might just be hopping sideways for a bit. At press time, memecoins were doing what they do best – popping off, then cooling down just as fast.  Most high-cap memes are starting to fumble after a week of double-digit wins, and Pepe [PEPE] is no exception. After a fiery 24% rally that smashed through the $0.0000060 resistance, PEPE is now cooling off, down about 4% on the day, at press time.  No shocker there – the frogs are squaring off with a…

As part of Synthetix’s transition to the new 420 staking pool, legacy SNX staking positions have now been liquidated as laid out in SCCP-403, but most positions can be recovered. If you’re a legacy staker who has not yet migrated to the 420 Pool, please follow the steps below as soon as possible.This migration helps the Synthetix system evolve to support our future products including the upcoming Perps v4, automated vaults, and more.What This MeansIf your C-Ratio was below 160% at the time of position closure, your staking position has been liquidated and cannot be recovered.If your C-Ratio was 160%…

Bitcoin and XRP posted gains, while Ethereum and Dogecoin dragged Grayscale portfolios lower over the year. Memecoins like Dogecoin lost appeal, with the sector declining 44.3% year-to-date. The crypto market regained momentum following a prolonged downtrend, with its press time valuation going to $2.96 trillion. Remarkably, it hovered just $40 billion shy of its previous peak of $3 trillion. Crypto assets such as Bitcoin [BTC], Ethereum [ETH], Ripple [XRP], and Dogecoin [DOGE] have maintained their positions in the market, contributing to the market’s growth. However, Grayscale, an institutional investment platform for traditional finance investors, revealed that only a few of…

WIF is roaring back, up 62.83% in just a week. $1 isn’t just a dream anymore – it’s starting to feel inevitable. dogwifhat [WIF] was looking like it might be headed for a Mantra [OM]-style disaster, dropping 95% to $0.20 from its $4.80 high. But just when it looked doomed, the bulls showed up swinging. In just a week, WIF has bounced 62.83%, and the cavalry might not be done yet – around 3,000 fresh wallets have jumped in since the bottom. Sure, RSI’s heating up and there’s 50%+ unrealized profits floating around, but the vibe’s still bullish. If anything,…

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. Ethereum is now holding above critical support levels after a volatile few weeks, but it continues to struggle with reclaiming key resistance zones. Bulls have managed to regain some momentum, helping ETH stabilize above the $1,700 level. However, to…

Solana decentralized finance (DeFi) protocol Loopscale has temporarily halted its lending markets after suffering an approximately $5.8 million exploit. On April 26, a hacker siphoned approximately 5.7 million USDC (USDC) and 1200 Solana (SOL) from the lending protocol after taking out a “series of undercollateralized loans”, Loopscale co-founder Mary Gooneratne said in an X post. The exploit only impacted Loopscale’s USDC and SOL vaults and the losses represent around 12% of Loopscale’s total value locked (TVL), Gooneratne added. Loopscale is “working to resume repayment functionality as soon as possible to mitigate unforeseen liquidations,” its said in an X post. “Our team is fully mobilized…