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On September 12, industrial outlet DeFiPrime revealed Zabu Finance faced a hack. The hacker successfully stole 4.5 billion tokens from a Zabu Farm Contract amounting to $3.2 million. The transfer of such a large number of tokens eventually caused the price of Zabu tokens down to $0. Zabu Token has also gone ahead to confirm the hack on Twitter. Moreover, the platform asked for help from other known decentralized exchanges hosted on Avalanche, such as Pangolin and Trader Joe. How…

Digital assets came with several different methods of completing transactions. In some digital coins, users only need to stake a digital asset. Staking a higher amount gives users the highest chance of becoming validators. Other assets, such as Bitcoin, use the PoW method to handle transactions. Bitcoin's operations usually need a source of energy. Without electricity, miners cannot complete transaction processes. Blockchains also need to keep running since it is the network's main driver. As such, we take a look at…

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $2,066 trillion. Bitcoin is down by nearly 9% despite becoming legal tender in El Salvador. Ethereum lost 13% in value over the week. XRP is down by roughly 14% in comparison with last Sunday. Most altcoins, except Solana, have traded in the red for most of the week. The DeFi sector lost almost $10…

The security situation within the DeFi sector has been one of the top issues for users. Many new projects and inventions make attempts to address it a priority. These projects make several attempts to provide some slight assurance of user safety to users as a result. Among the key lines of thought is improving project anonymity. Using items like crypto tumblers may enhance the ability of masking. Another angle of improving user safety is targeting malware that carries out phishing…

The U.K.'s Post Office is offering a route for customers to purchase volatile cryptocurrencies. Soon users can buy crypto through its identity-verification service, EasyID. Through the verification app, customers of the EasyID app can purchase crypto vouchers from the decentralized exchange (DEX) Swarm Markets. Users verifying their identity through the app receive access Swarm's official website. Additionally, they can acquire cryptocurrency vouchers using their phones. Users can redeem vouchers for cryptos like Bitcoin and Ethereum on the Swarm platform. EasyID…

Recently, Mastercard closed a deal to acquire crypto intelligence startup CipherTrace. The platform plans to focus on detecting fraud, driving innovation, and expanding its crypto strategy. The acquisition will go through by the end of the year, but they are yet to disclose any terms. Meanwhile, its shares were up 0.6% after the announcement. Mastercard Can Benefit from Cipher's Data Analytics Launched in 2015, CipherTrace has its headquarters in Silicon Valley. It gathers information for more than 900 cryptocurrencies. This…

CoinxPad provides a platform where upcoming projects can conveniently and securely distribute their tokens and raise liquidity. Early-bird investors will soon have a safe place to access projects via the CoinxPad CEX-DEX Multi-chain IDO Launchpad. The pioneering Launchpad is set to go live this September with multiple innovations. Above all, it will offer investors access to secure, trustworthy, and innovative blockchain projects. The LaunchPad platform now allows small, medium, and big investors to find high-quality projects. Also, it gives them…

Ethereum-compatible smart contract platform Moonbeam has just announced a collaboration with Lido. Lido is a decentralized autonomous organization (DAO) that develops and maintains decentralized liquid staking protocols. Moonbeam will provide the parachain infrastructure and cross-chain interoperability to Lido for its expansion to Polkadot. Furthermore, the platform's Ethereum-compatible smart contract functionality will allow Lido to use familiar Ethereum tools to get to market quickly. The collaboration will bring liquid staking to Polkadot and Kusama. Moreover, the integration between the two introduces liquid staking to Moonriver and Moonbeam. Moonriver is a…

Swedish Central Bank governor, Stefan Ingves, believes that bitcoin is similar to trading stamps, and it will soon collapse without the government's backing. He made the remarks during his speech at a banking conference held in Stockholm earlier today. Although he admitted that one can get rich by trading the flagship crypto, he said 'it's comparable to trading in stamps.' Ingves on Bitcoin's Alleged 'Imminent' Fall As per Bloomberg, the Riksbank governor challenged the possibility of currencies retaining their power…