DeFi ecosystem saw a new bullish resurgence, even when its future is at stake due to the SEC’s crackdown on crypto staking.
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Cybercriminals used various methods to siphon funds through hacks and exploits in 2022, amounting to over $2.8 billion in losses. The second week of February saw the Platypus protocol exploited, leading to losses of $8.5 million. In another exploit-related update, the hacker behind Mango Markets wants to keep disputed funds paid as a bug bounty.
The DeFi market saw a new bullish wave thanks to a price rally by Bitcoin and other altcoins. The recent price rally helped the DeFi market regain its $50 billion total value locked.A crackdown by the U.S. securities regulator on crypto staking could have unintended consequences for decentralized finance, according to the head of business development at Lido DAO.
Cybercriminals used a variety of novel ways to carry out hacks and exploits in 2022, with over $2.8 billion of cryptocurrency stolen.
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Global Standard Setters Will Team Up to Tackle DeFi Regulation: FSBNEW: The FinStbBoard says DeFi is not so different from TradFi, and plans to coordinate with other international standard setters on how the sector should be regulated. camomileshumba reports.
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BIS-funded regulator to probe DeFi entry points like stablecoinsDeFi entry points, including stablecoins and centralized crypto exchanges, are key elements to consider when assessing global DeFi regulations, the FSB stated.
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Total Value Locked in Defi Surpasses $50 Billion Mark for First Time Since FTX Collapse – Defi Bitcoin NewsThe total value locked (TVL) in decentralized finance DeFi has surpassed the $50 billion mark for the first time since the collapse of FTX.
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Crypto Critic Fears DeFi Could Cause 'Giant Loophole' in U.S. Regulations | CoinMarketCapcryptonews: Sen. Elizabeth Warren wants to ensure that when crypto anti-money-laundering regulations are written later this year, they don't leave a 'giant loophole' called decentralized finance. 🧐
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Platypus DeFi faces flash loan attack, according to CertiKThe flash attack appears to be the same method used by Avi Eisenberg to manipulate the price of Mango Markets’ MNGO coin in October.
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USP Stablecoin Loses Dollar Peg as DeFi Protocol Platypus Suffers $8.5M AttackA flash loan attack on DeFi protocol platypusdefi caused its Platypus USD (USP) stablecoin to fall to 48 cents from $1. The potential loss is $8.5 million, according to blockchain security firm CertiK. sndr_krisztian reports
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