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π Another day, another hackπ
π Another day, another hackπ
| Don't miss out on the juiciest news in the crypto space! Stay in the loop to ensure that you receive our latest newsletters, right in your inbox! | | Another day, another dollar, Geckos! DeFi lending platform Vee Finance (VEE) has reportedly been hacked, resulting in the loss of 8,804 Ether (ETH) and 214 Bitcoin (BTC) (totaling $35 million) just days after releasing its mainnet on the Avalanche network.
The Vee Finance team has paused the platform's contracts, as well as the deposit and borrowing services to avoid further losses.
At the time of writing, Vee Finance has yet to elaborate on the specifics and potential causes of the exploit.
In today's news, PayPal releases "super app," Dfinity Internet Computer blockchain connects with Bitcoin, and Portal raises $8.5M in a funding round.
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| PayPal Introduces "The Next Digital Payment Era" Today marks the official release of PayPal's "super app," which includes various financial features such as direct deposit, bill pay, a digital wallet, P2P payments, shopping tools, crypto capabilities, and more.
In addition, the company announces a partnership with Synchrony Bank for its new high-yield savings account, PayPal Savings.
These updates transform PayPal from a payments tool with a few other features to a fully-fleshed-out finance application.
TechCrunch | | Dfinity Introduces Bitcoin Smart Contract The Internet Computer (ICP) blockchain from the Dfinity Foundation is bringing smart-contract capabilities to the Bitcoin (BTC) network, potentially opening the door to new use cases for the leading cryptocurrency.
Dfinity Foundation announced Tuesday that Internet Computer would connect with Bitcoin via chain key cryptography, paving the path for smart contracts hosted directly on Internet Computer.
Each smart contract on the Internet Computer will correspond with a BTC address, providing direct access to transactions on the Bitcoin blockchain. Cointelegraph | | A Portal To Bitcoin DeFi Portal, decentralized finance (DeFi) initiative aiming to develop a DeFi ecosystem on the Bitcoin blockchain, revealed today that it had raised $8.5 million in a funding round.
The funding round was participated by Coinbase Ventures, ArringtonXRP Capital, OKEx, Republic.co, Shima Ventures, LD Capital, Monday Capital, GenBlock, Taureon, Autonomy Capital, Krypital, and B21 Capital.
Portal seeks to "deploy censorship-resistant layers on top of the Bitcoin base layer" with Fabric technology to help the network reduce load and increase customizability. Decrypt |
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