NewsBriefs - LI.FI protocol warns users of potential exploit with $10 million drained

Jul 16, 1:22 PM Crypto Briefing

LI.FI protocol warns users of potential exploit with $10 million drained

LI.FI, an interoperability protocol, advised users to avoid interacting with apps using their infrastructure due to a possible exploit. Nearly $10 million has been drained from the protocol. Users who manually set infinite approvals are at risk. The exploit may be a "call injection" attack. Popular applications like Rabby wallet and Jumper Exchange use LI.FI services. Users are urged to revoke approvals for specific contract addresses. This incident highlights the ongoing security challenges in the crypto space.

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• Nov 14, 4:15 AM Cointelegraph

  Phantom releases emergency update for iOS app after wallet resets impact users

  Phantom, a provider of a Solana-based DeFi wallet, issued an emergency iOS update after users reported app resets that locked them out of their wallets, requiring recovery phrases to regain access. The company advised users to securely store their seed phrases and pushed a new update to prevent further issues. Responses on social media suggest some users experienced significant losses and were logged out or had their balances deleted following the update. Phantom, being a non-custodial wallet, offers limited recovery options for those who lost their seed phrases.

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• Nov 13, 5:40 PM Cointelegraph

  Silk Road founder Ross Ulbricht expresses hope for sentence commutation from Trump

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• Nov 13, 11:01 AM The Block

  Linea announces LINEA token launch for Q1 2025 and new governance association

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• Nov 13, 3:30 AM Bitcoinist

  Federal judge denies former Celsius CEO's dismissal request in fraud case

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• Nov 12, 9:55 PM Cointelegraph

  Italy's government proposes reducing planned crypto tax increase to 28%

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• Nov 12, 6:39 PM Coindesk

  El Salvador and Bhutan see significant growth in bitcoin holdings amid market rally

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• Nov 12, 11:40 AM Coindesk

  Ethereum researcher Justin Drake unveils Beam Chain, a comprehensive redesign of the consensus layer

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• Nov 12, 7:26 AM Cointelegraph

  GIGA investor loses $6M in phishing scam involving fake Zoom link

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• Nov 11, 2:35 PM The Block

  Global crypto funds reach new peak of $116 billion in assets under management

  Global crypto funds have seen five consecutive weeks of net inflows, adding $1.98 billion recently, which brings this year's total to $31.3 billion. Following the US election, total assets under management surged to an all-time high of $116 billion. US-based funds contributed the majority with $1.95 billion of the inflows, while Bitcoin and Ethereum products recorded significant inflows of $1.8 billion and $157 million respectively last week. Additionally, blockchain equities added $61 million, showing broad support across crypto assets.

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• Nov 10, 3:54 PM Bitcoin Sistemi

  Dogecoin surpasses XRP in market cap amid Elon Musk speculation

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• Nov 10, 2:32 PM Bitcoin Sistemi

  North Korean hackers target MacOS crypto users with new malware

  North Korean hacker group BlueNoroff has developed new malware targeting MacOS crypto users. The "Hidden Risk" operation uses fake PDF files to install secondary malware, giving hackers remote access to victims' computers. SentinelLabs reports the malware exploits MacOS Zsh configuration files, making it difficult to detect and remove. This sophisticated attack poses a significant threat to crypto firms and individuals, potentially compromising sensitive data and private keys.

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• Nov 8, 11:50 AM Deutsche Bundesbank

  Germany’s central bank joins Singapore's Project Guardian to boost asset tokenization

  Germany’s Bundesbank has joined Project Guardian, Singapore's initiative to advance asset tokenization in financial markets. Deutsche Bundesbank will test an interoperable blockchain platform for tokenized and digital funds, aiming to enhance cross-border collaboration and standardization. This move aligns with Singapore's efforts to promote tokenized asset commercialization and deepen market liquidity. The collaboration is expected to leverage expertise from both countries to explore meaningful applications of asset tokenization in the financial sector.

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• Nov 7, 11:41 AM Coindesk

  SEC moves to dismiss three of Kraken's defenses in US lawsuit

  The SEC has asked a California court to dismiss three key defenses from crypto exchange Kraken in an ongoing lawsuit. The regulator rejects Kraken's claims about unclear securities laws for crypto, lack of fair notice, and the major questions doctrine. The SEC sued Kraken in November 2023 for operating as an unregistered securities platform, alleging unlawful facilitation of crypto asset securities trading since 2018. The motion aims to narrow the scope of discovery and prevent repeated litigation of the same issues.

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• Nov 7, 9:31 AM Cointelegraph

  SEC commissioner Mark Uyeda likely to become next chair under Trump

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