Skip to main content

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Post a Comment

Ciphertrace Report Shows Crypto Crime Moving to Defi

ciphertrace

Ciphertrace, a blockchain analytics company, has announced that crypto-related crimes have moved to the realm of decentralized finance (defi) apps and protocols. Now, the impact these hacks and exploits represent is way bigger than the one classic hacks to centralized exchanges and other scams do, according to their latest “Cryptocurrency Crime and Anti-Money Laundering Report.”

Ciphertrace: Crime Moves to Defi

Ciphertrace, one of the biggest cryptocurrency crime and blockchain analytics companies, has found that most of the crypto-related crimes have now moved to decentralized finance (defi) protocols. The information, that comes from its latest “Cryptocurrency Crime and Anti-Money Laundering Report,” examines data from the first four months of the year and exposes an interesting picture of how crypto-related crimes have evolved compared to last year.

The company found that, on the whole, the cryptocurrency sector has become a lot more secure, with only $432 million being stolen as a result of illegal activities in the space. In fact, the projection is way lower than the $1.9 billion Ciphertrace found were taken during 2020. In contrast, these attacks are now pivoting to a sector that is easier to tackle: decentralized finance.

The scams and exploits in the defi sector pulled $156 million in the period studied by the report, already surpassing the number that was taken during 2020. This increase is related to the rise of defi, which is now gobbling more than a third of the whole Ethereum activity. Scammers also find end-users more vulnerable to their influence, due to the exploitability of smart contracts, and the execution of the now common rug pulls in these platforms.

Grand Theft Defi

Ciphertrace also provided a list of the biggest scams and exploits that happened in the period. The biggest defi-related scam was the exploit of PAID network, which allowed hackers to mint $150 million worth of the currency. The project acknowledged the scam and pulled liquidity to mint another currency, but PAID lost more than 85% of its value, affecting all holders.

Easyfi, a Polygon-based defi protocol, lost $80 million due to a security vulnerability that allowed hackers to steal the private keys of the wallet from the computer of a member of its team. Another significant hack (suspected to be a rug pull) was the one concerning Meerkat Finance, which took $31 million worth of BNB after the team modified the logic of its smart contract.

These hacks and exploits will likely keep happening even at a higher scale due to the defi sector acquiring more and more relevance in the crypto industry in the future.

What do you think about Ciphertrace’s last cryptocurrency report? Tell us in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Top 3 Rebase Token Markets Shudder — Stats Show TIME, OHM, BTRFLY Lost Billions Since All-Time Highs

While the crypto economy has shed more than 3% in fiat value during the last 24 hours dropping to $2.09 trillion, the top rebase tokens by market capitalization have seen significant losses this week. At the time of writing, the rebase token economy is valued at over $3.2 billion but has lost more than 10% in value during the last 24 hours. The largest rebase token economies such as Wonderland, Olympus, and Redacted Cartel have shed between 36% to 55% over the last week. Top 3 Rebase Token Protocols Shed Billions in Value Over the Last Week, Wonderland Down 87% Since High On the first day of November 2021, Bitcoin.com News took a deep dive into the Olympus DAO and the reserve-backed asset called OHM . Olympus is a decentralized finance (defi) project that is described as a rebase token and since Olympus started, a myriad of Olympus forks have been born. Essentially, rebase token protocols adjust the token supply in a periodic fashion or when the price fluctuates. Olympus was once ...
Post a Comment
Read more

Price analysis 9/15: BTC, ETH, ADA, BNB, XRP, SOL, DOT, DOGE, UNI, LUNA

Buyers continue to scoop up Bitcoin and altcoins on dips, a signal that there is strong demand at lower levels and that bullish momentum is building. Bitcoin ( BTC ) is leading the recovery in the crypto sector and the cryptocurrency briefly rallied to $48,429 on Sept. 15, before pulling back to test the underlying support levels. While speaking during a live stream at the SALT conference, Ark Invest CEO Cathie Wood said that Bitcoin is the default currency of the crypto space and could rise tenfold in the next five years . Her projection is based on the presumption that Bitcoin will find a place in the balance sheets of many companies and institutional investors will increase their allocation to Bitcoin and other cryptocurrencies to about 5%. Several legacy finance companies have realized the growing demand for digital assets and are increasing their crypto offerings to fulfill that demand. Morgan Stanley recently set up a new crypto-focused research division “in recognition of ...
Post a Comment
Read more

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Post a Comment
Read more