China News by Thebittimes.Com

The protocol, which had 526 Ether in total value locked, was emptied in an attack on Oct. 18. Ethereum decentralized finance (DeFi) protocol Hope Lend has next to zero assets left in its protocol after a devastating hack. According to multiple blockchain security firms, on Oct. 18, two individuals, a frontrunner who beat the original hacker after discovering the exploit , and the original hacker itself, stole a combined 526 Ether (ETH) from Hope Lend worth $825,357 at the time of publication. "The successful attacker gained 264 ETH and paid a 263 ETH bribe to an ETH validator," wrote CertiK.  Hope.money, the DeFi protocol 's developer, presented a different version of the story. In its X thread, developers claim that a single hacker ran off with 526 Ether worth of users' funds, paying 263.91 in bribes to a validator allegedly managed by Lido Finance, eventually netting a profit of 264.08 ETH. Hope.money staff said: "It is crucial to emphasize that all protocol...

The total value locked (TVL) on the Cardano (ADA) DeFi ecosystem has surpassed $160 million with a surge of close to 10% in the deployed capital, which increases Cardano’s value as a decentralized finance chain and increases liquidity for its protocol s and tokens. According to data retrieved by Finbold from DefiLlama on October 5, the Cardano network has seen an increase of 9.26% in its 1-week TVL. Reaching $161 million in the total value locked also meant an increase of 1.86% in the last 24 hours and 0.67% monthly, for this metric. Total Value Locked on Cardano protocols. Source: DefiLlama Despite a seemingly small increase in the last 30 days, having positive results already gives competitive advantages to the Cardano network, as most chains have seen investors’ and users’ capital outflowing from their protocol s, resulting in TVL losses. With this surge, Cardano slowly continues to prove its value as a growing DeFi environment, although still mostly experimental. Interesting...