Analysis Today TheBitTimes.com

Decentralized finance (DeFi) is on a rally, surpassing $65 billion in total value locked (TVL). With this accomplishment, DeFi is among the top five largest U.S. hedge funds in assets under management (AUM). On February 9, the total value locked in all DeFi protocols reached a multi-year high of $65.612 billion. Notably, the last time decentralized finance saw these numbers in TVL was in June 2022. This metric has currently surpassed the $64.658 billion of August 13, 2022, according to data from DefiLlama . Interestingly, this TVL accounts for 48% of stablecoins’ market cap of $136.408 billion at the time of publication. In the last 24 hours, decentralized exchanges (DEX) moved over $3.4 billion in volume, while nearly $20 billion weekly. The total value locked measures the amount of non-liquid tokens invested in DeFi protocols. In traditional finance, this would be the equivalent of assets under management (AUM), although not managed by a central entity. Total Value Locked in D...

Fraudsters have breached the security system of the Socket cross-chain protocol . A security breach of the Socket protocol has led to the loss of millions in crypto after a hacker made use of a verification user input to steal users funds. Information about the hack appeared on the project’s microblog. “Socket has experienced a security incident that affected wallets with infinite approvals to Socket contracts. We have identified the issue & have paused the affected contracts.” Socket team PeckShield confirmed that at least $3.3 million was affected. They noted that the hack occurred due to incomplete verification of user input, which is used to steal funds from users who approved the vulnerable SocketGateway contract on the site. Today's hack on @SocketDotTech results in the loss of >$3.3m. The bad route exploited in the hack was added 3 days ago and is now disabled. Here are related txs: – add route tx: https://t.co/lxw7iA1kn4 – disable route tx:http...

Bitcoin-related funds saw outflows of $13 million over the past week, reversing five weeks of bullish inflows, according to Coinshares analyst James Butterfill. Bitcoin-related invest ment products appear to have lost some of their sheen among crypto invest ors, recording its first week of outflows since Blackrock filed for spot Bitcoin ETF in June. According to a July 24 report by CoinShares’ head of research, James Butterfill, Bitcoin (BTC) investment products saw outflows of $13 million for the week ending July 21, reversing five weeks of inflows. Short Bitcoin products also saw outflows of $5.5 million in the week. Bitcoin Fear and Greed Index is 50 ~ Neutral Current price: $29,178 pic.twitter.com/T1DMFpsX9p — Bitcoin Fear and Greed Index (@BitcoinFear) July 25, 2023 In contrast, Ethereum (ETH) and XRP (XRP) invest ment products recorded combined inflow of $9.2 million over the last week. Butterfill noted that Ethereum invest ment products were the best performer last week...

In a post-mortem report, Arcadia Finance developers said an attacker stole funds by liquidating a vault before it could perform a health check, interrupting the app’s normal flow of operations. The Arcadia Finance attacker used a reentrancy exploit to drain $455,000 from the decentralized finance (DeFi) protocol, according to a July 10 post-mortem report issued by the app’s development team. A “reentrancy exploit” is a bug that allows an attacker to “reenter” a contract or interrupt it during a multi-step process, preventing the process from being completed correctly. The team has sent a message to the attacker demanding the return of funds within 24 hours and threatening police action if the hacker fails to comply. Post Mortem of ongoing situation, providing a technical overview and sharing more information on next steps.https://t.co/NPNbbSzKBQ — Arcadia Finance (@ArcadiaFi) July 10, 2023 Arcadia Finance was exploit ed on the morning of July 10 and drained of $455,000 worth of...

According to Circle, USDC liquidity operations will "resume as normal when banks open on Monday morning in the United States," enabling USDC redemption at 1:1 with the U.S. dollar. USD Coin (USDC) issuer Circle plans to use " corporate resources" to cover the shortfall on its reserves following Silicon Valley Bank's shutdown, said the company in a statement on March 11.  According to Circle, USDC liquidity operations will "resume as normal when banks open on Monday morning in the United States," enabling USDC redemption at 1:1 with the U.S. dollar. The announcement came after the stablecoin lost its $1 peg on March 11 to trade as low as $0.87 before slowly re-pegging at $0.97 at the time of publication. The stablecoin lost its peg after the disclosure of $3.3 billion of Circle's reserve at Silicon Valley Bank. Sharing an Update on USDC and Silicon Valley Bank. https://t.co/Ug3qpot8sJ — Jeremy Allaire (@jerallaire) March 11, 2023 Silicon Vall...