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🚀 The Losses Keep Compounding

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! Weekend gone, Geckos!   Yesterday, an anonymous user discovered and exploited a bug in Compound's Controller contract, which is the part of the protocol that distributes users with yield farming rewards. Four major transactions have depleted the Comptroller pool of 64,997 COMP, or approximately $21.4 million, with one transaction draining 37,504 COMP. According to Compound founder Robert Leshner, about 490,000 COMP, or $160 million, is currently at risk, of which 136k is still in the Comptroller, and 117k has been returned to the community. In today's news, Coinbase MFA flaw allows hackers to drain customers' funds, a Solana NFT sells for $2.1M, and El Salvador encourages BTC usage with gas discounts. Read on!

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Coinbase MFA Hack Affects 6,000 Clients   Between March and May 20, some hackers exploited a flaw in Coinbase's account recovery process to obtain the SMS two-factor authentication token, allowing them to move funds out of customers' accounts. Coinbase believes the hacker used a phishing scheme to steal clients' credentials and has discovered no evidence of the hacker receiving this information from the exchange itself. The exchange has promised to refund users for the stolen assets, but it's unclear if those payments will be made in fiat or cryptocurrency.   CoinDesk Integrating BTC Into Salvadoran Daily Lives   President of El Salvador Nayib Bukele revealed that he signed a decree authorizing a fund to stabilize El Salvador's gas costs, stating that gas prices were projected to rise but that his order has halted the rise. Following those claims, Bukele went on to say that Chivo Bitcoin (BTC) wallet users will be able to obtain a per-gallon gas discount when they fill up. Although the guidelines for the discount campaign are unclear, Bukele indicated that Chivo has negotiated with several of the country's top gas station companies to launch the project.   Bitcoin.com A "Monkey Business" Indeed   An NFT from SolanaMonkeyBusiness, a series of 5,000 Solana-based NFTs, recently sold for 13,027 SOL, or around $2.1 million, making it the most expensive Solana NFT trade so far. The NFT is SolMonkey #1355, the collection's rarest NFT, portraying a pixelated skeletal monkey wearing an orange jacket and a bejeweled crown. The first Solana-based NFT sold for over $1 million occurred only three weeks ago, reinforcing Solana's position as an Ethereum killer as Etereum's (ETH) NFT dominance over Solana dwindles.   TheBlockCrypto

Earn Up to 600 BIT — And Be Part of BitDAO We're giving you so many ways to earn BIT, there's practically no way you can miss out on joining the world's largest decentralized autonomous organization, BitDAO. All you have to do to earn up to 600 BIT is to meet the min. all-time trading volume threshold in both Spot and Derivatives since joining Bybit. And here's a tip: Your Spot trading volume will count for much, much more. Learn more        Only available up till 00:00AM UTC, Oct. 16, 2021. Gas Limit     A term refers to the maximum amount of units of gas user's willingness to spend on a transaction on Ethereum blockchain.    Learn about other Crypto terms here NFT of the Day 🖼️ Zenith Artist: Bosslogic Gallery: MakersPlace   Zenith    Check out other NFTs on CoinGecko ___________________________________________________________________ Submit your favorite NFTs here for a chance to be featured as our NFT of the Day! ____________________________________________________________________________________

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