Atomic Wallet hack losses top $35M, on-chain sleuth reports

    Security teams are investigating the cause of the attack. Reports have surfaced of tokens being lost, transaction data being erased, and even entire crypto portfolios destroyed. At least $35 million worth of crypto assets has been stolen from Atomic Wallet users since June 2, according to an analysis from on-chain sleuth ZachXBT. The five largest losses account…

    Atomic Wallet exploited, users report loss of entire portfolios

    Several users on Twitter have reported losses of crypto assets, claiming funds held on the Atomic Wallet app vanished. Atomic Wallet has been apparently exploited, with users on Twitter reporting complete losses of their crypto portfolios. Atomic is a noncustodial-decentralized wallet, meaning users are responsible for assets stored in the application. “We have received reports…

    Rapid growth in DeFi-focused Ethereum liquid staking derivatives platforms raises eyebrows

    ETH use in DeFi is down due to an uptick in staking, but rapid growth in LSDfi could be a bull market catalyst. Ether’s DeFi activity has declined in the bear market and the sector faces further competition from Ethereum’s annual staking reward of 4%, according to Glassnode analysts. However, a DeFi narrative is building…

    Stablecoins are a critical countermeasure to Operation Chokepoint

    Stablecoins could help crypto firms to remove themselves from the banking system — and prevent the U.S. government from cutting off their financial lifelines. Boosting financial inclusion is one of crypto’s strongest value propositions. Yet, ironically, the banking crisis has effectively de-banked the crypto industry itself, at least in the United States. How things panned…

    Circle to launch ‘official version’ of USDC natively on Arbitrum

    USDC stablecoin developer Circle will replace the current version of its token with one running natively on the Arbitrum network. Circle recently announced plans for a June 8 launch of a new native version of its USD Coin stablecoin on the Arbitrum network. 1/ Circle is launching USDC natively on @Arbitrum on June 8th! Keep scrolling…

    Scientists propose quantum proof-of-work consensus for blockchain

    Boson sampling was once considered a problem looking for a solution. Now, it might be the bridge that brings quantum computing to the blockchain. A team of researchers from universities in Australia and the United States, working in collaboration with quantum technology company BTQ, recently published research proposing a novel proof-of-work (PoW) scheme for blockchain…