CoinGecko Weekly Crypto News Round-Up (#1) 🚀

in cryptocurrency •  2 years ago  (edited)

Hey Steemit!

Welcome! This is our first Weekly Crypto News Round-Up! This is where we will gather together the top crypto news that happened within the week.

Read on!

Flawed Code Costs bZx Protocol $8 Million Dollars

bZx Protocol (BZRX), a DeFi lending protocol lost about $8 million dollars last night due to a smart contract bug.

The bug allowed attackers to multiply their assets and also increase their balance of interest-bearing tokens on the platform.

The attack has drastically reduced the total value locked (TVL) in bZx from $21 million to approximately $6.3 million.


bZx Recovers $8 Million in Funds

bZx Protocol (BZRX) has managed to identify the person who managed to steal $8 million dollars from the project due to an exploit.

They were able to track down the attacker using their on-chain activity.

After being revealed, the perpetrator returned the funds.


Yam Finance Preps for v3 Launch

Yam Finance v3 is slated to be released on September 18.

Liquidity incentives will go live for the YAM/yUSD pairing on September 19, with the first rebase set to occur two days later.

The DeFi protocol has been audited by Peckshield, a blockchain security firm.

Previously, Yam Finance came to a premature end due to a smart contract bug, the developers then created an interim Yam Finance v2 (YAMV2) as the final and fixed v3 code go through auditing.


Uniswap Launches Governance Token

Uniswap has launched their own governance token (UNI), with 1 billion tokens already minted and ready to be delivered to the community over four years.

60% of the token supply would be allocated to Uniswap community members

Subsequently, Uniswap is slated to launch their liquidity mining program on September 18.


That sums it up for our weekly round-up! Want to stay up to date daily?

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