Best Twitter threads of the day – August 30th

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  TL;DR Breakdown Decentralized exchange Swaprum reportedly made off with $3 million in investor funds. Auditing firm CertiK, which audited Swaprum’s protocols, is facing scrutiny for potential oversight. The incident has drastically dropped the value of Swaprum’s token, SAPR, impacting retail investors. Yesterday, a shockwave passed through the decentralized finance (DeFi) industry as Swaprum, a decentralized exchange based on the Arbitrum blockchain, allegedly made off with about $3 million of investor funds. Swaprum, known for promising potential annual percentage yields up to 100% and offering high farming rewards and low swapping fees, recently attracted over 22,000 wallets holding the protocol’s token, SAPR. DeFi investor, Damicale Shilling, was the first to sound the alarm after observing an alarming pattern of on-chain activity tied to the protocol’s promotional efforts. DeFi Security, a security firm, soon validated the concerns, confirming that Swaprum’s developers’ theft was underway, initially estimating the losses at around $1 million. As the day ended, blockchain security firm PeckShield revised the estimated loss, placing it at $3 million. The devious culprits exploited the privacy protocol Tornado Cash, a service designed to…

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• Consensys releases new tool for enhanced smart contract security

  TL;DR Breakdown Consensys has announced the release of a new diligence fuzzing tool to enhance smart contract security. Embracing sophisticated fuzzing to mitigate Defi vulnerabilities. Description Blockchain technology firm ConsenSys has taken a significant step in bolstering the security of decentralized finance (DeFi) platforms by publicly releasing its “Diligence Fuzzing” tool for smart contract testing. The announcement, made on August 1, highlights the tool’s capability to generate “random and invalid data points” to detect vulnerabilities in contracts before they are deployed, … Read more Blockchain technology firm ConsenSys has taken a significant step in bolstering the security of decentralized finance (DeFi) platforms by publicly releasing its “Diligence Fuzzing” tool for smart contract testing. The announcement, made on August 1, highlights the tool’s capability to generate “random and invalid data points” to detect vulnerabilities in contracts before they are deployed, potentially preventing millions of dollars in losses due to hacks and security breaches. Consensys plans to prevent breaches with the tool The urgency for better testing tools stems from the staggering $2.8 billion lost to DeFi hacks in 2022. As hackers…

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• CFA Institute global survey reveals limited awareness and support for CBDCs

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• Cboe Digital Revolutionizes Crypto Futures with Margin Trading Approval

  TL;DR Breakdown Cboe Digital has obtained regulatory approval to introduce margined trading on its crypto futures exchange, allowing traders to enter positions with reduced capital requirements. The approval enables traditional financial firms to access Bitcoin and Ether futures directly, eliminating the need for intermediaries and facilitating the physical settlement of digital assets. In a significant development for the cryptocurrency industry, Cboe Digital, a digital asset exchange operated by Cboe Global Markets Inc., has received regulatory approval to offer margined Bitcoin and Ether futures contracts. The Commodity Futures Trading Commission (CFTC) granted the approval, paving the way for Cboe Digital to introduce physically and financially settled margined contracts in the second half of this year.  This move will bring a traditional structure to new assets and enable traders to enter positions with less capital. The approval also allows traditional financial firms to access Bitcoin and Ether futures without the need for intermediaries to handle custody. Cboe Digital’s expansion into margined trading marks a significant step forward for the company, which has previously offered only fully collateralized trading of crypto futures. Contents…

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• Binance inks metaverse collaboration with The Weeknd

  TL;DR Breakdown Binance has announced a metaverse collaboration with popular artist The Weeknd. Crypto partnerships and NFT integration. Description Cryptocurrency exchange giant Binance and pop artist The Weeknd have joined forces to introduce a unique online space called the “Metaverse Dimension,” as part of their ongoing collaboration. This new venture aims to offer users an immersive experience, combining elements of gaming, art, and exclusive rewards, and bringing The Weeknd’s creative world to life in … Read more Cryptocurrency exchange giant Binance and pop artist The Weeknd have joined forces to introduce a unique online space called the “Metaverse Dimension,” as part of their ongoing collaboration. This new venture aims to offer users an immersive experience, combining elements of gaming, art, and exclusive rewards, and bringing The Weeknd’s creative world to life in a fresh and captivating way. Binance announces a metaverse treasure hunt competition Within the web-based game, participants can engage in a treasure hunt challenge, unlocking exclusive areas, content, and rewards as they navigate through a visually stunning 3D environment adorned with imagery inspired by The Weeknd and Binance….

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