Compound

BitClout founder Nader Al-Naji faces SEC and DoJ charges for wire fraud and securities violations, Compound Finance is embroiled in a $24 million governance attack controversy, and the US government moved $2 billion worth of Bitcoin, causing a 4% drop in its value. Let’s find out more Bitcoin Only two days after presidential hopeful Donald Trump said at the Bitcoin 2024 conference that he would not move the US Silk Road $BTC, the government did just that, transferring $2 billion…

A controversial proposal to allocate $24 million of Compound Finance's treasury has sparked allegations of a governance attack by a small group of token holders, raising concerns over the protocol's decision-making integrity.  Proposal 289 Controversy A recent proposal passed by the decentralized lending protocol, Compound Finance, has raised concerns about a potential governance attack. Community members allege that a small group managed to push through the proposal by amassing large numbers of tokens on the open market. The contentious issue…

The Compound Finance (COMP) treasury has been drained of $25 million in a recent governance attack, raising alarms about the state of decentralized governance in the decentralized finance (DeFi) ecosystem. Compound DAO Hijacked According to researcher DeFi Ignas, the attack began with an initial proposal to grant 92,000 COMP tokens, submitted without prior discussion on the Compound DAO forum.  Despite “glaring red flags”  identified by the project’s security advisor, Michael Lewellen, the warning received minimal engagement from the community, with…

Compound Finance's website was hijacked by hackers, redirecting users to a phishing site, but the protocol's smart contracts and funds remain secure. ZachXBT's Alert and Confirmation of Breach Compound Finance, a prominent decentralized finance (DeFi) lending platform backed by Coinbase and a16z crypto, has suffered a significant security breach. On July 11, crypto investigator ZachXBT revealed via their official Telegram channel that the Compound Finance website had been hijacked, redirecting users to a newly registered phishing site. ZachXBT, known for…

It’s been a bearish Q2 cryptocurrency market so far. Several coins that showed immense promise during the March bull market have begun to suffer severe value slumps. Currently, investors are looking for ways to recoup their losses and maximize gains when possible. DeeStream has recently emerged as a foremost crypto asset for investment. Lido DAO and Compound holders have spotted the platform and believe its crypto token will likely become a blue-chip cryptocurrency. They’ve begun buying large volumes of the…

In the current downtrend of the cryptocurrency market, most digital assets, including prominent players like Lido DAO and Compound, have experienced significant declines from their peak values. Yet, during this difficult time, Raffle Coin’s presale is waxing stronger. It has emerged as a beacon of hope for investors, offering a recovery path and the potential for substantial financial gains. The first stage of Raffle Coin's presale is nearly sold out, indicating strong investor confidence and a bright future for this…

Leading Decentralized Finance (Defi) Protocol Compound is staring at heavy losses following a bug bite. The firm's chief, Robert Leshner, has revealed it in a series of tweets. Also, Leshner blamed the firm's woes on an upgrade that went wrong. Compound has recently updated its Comptroller Contract. The Proposal 062 update manages how the protocol rewards its stakers. A bug in the upgrade has seen the contract wrongfully allocate its users staking rewards in COMP tokens. The news won't be…

The crypto space has been vibrant in the past 24 hours, with the recent pump of Dogecoin on everyone's lips. However, one sector that has gone below the radar is the DeFi sector, which has experienced a bullish increase.  At the time of writing, the total locked-In value in DeFi protocol has hit a record $27 billion. Looking at the data from DeFi Pulse, over $2billion was added into DeFi protocols 24 hours. The recent surge in the value of…

The current bullish sentiments in the crypto market have been the major talking point in recent weeks. Bitcoin pump has caused a ripple effect in the crypto market, which has extended to decentralized finance (DeFi). Total Locked In Value hits $14billion The Total Locked in Value in the DeFi sector surpassed $14 billion over the weekend. According to DeFi Pulse, the total TVL hit a record high of $14.3 billion in today's early hours. At the moment, the value has…