Security

ConsenSys has initiated legal action against the SEC to challenge the classification of Ethereum as a security. Ethereum’s price could potentially explode to $5,000 amidst legal and regulatory developments. In a significant move within the cryptocurrency realm, Ethereum developer ConsenSys has initiated a lawsuit against the U.S. Securities and Exchange Commission (SEC). Filed in the District Court for the Northern District of Texas, this legal challenge seeks to prevent the SEC from classifying Ethereum as a security. The case specifically…

The post Consensys Sues SEC To Protect Ethereum, Claims ETH Not A Security appeared first on Coinpedia Fintech News ConsenSys has taken on the U.S. Securities and Exchange Commission (SEC) by filing a lawsuit in Texas federal court. The case focuses on the classification of Ethereum’s Ether as a security. ConsenSys argues this designation could harm the entire Ethereum network, posing significant risks to its functionality and innovation. This lawsuit not only challenges regulatory overreach but also aims to protect…

Cosmos developers have patched a critical security bug in the Cosmos Inter Blockchain Communication (IBC) protocol that had put at least $126 million at risk.  Asymmetric Research had privately disclosed details of the vulnerability impacting the Cosmos ecosystem, adding that it was patched before anyone could exploit it.  Critical Security Bug  According to Asymmetric Research, the Inter Blockchain Protocol always had the bug. However, it only recently became exploitable thanks to developments in the protocol’s codebase. Once Cosmos was notified…

The post Choise.ai Introduces Tringlr SMPC Technology for Ultimate Crypto Wallet Security, Elevates CHO Token to New Heights appeared first on Coinpedia Fintech News Managing crypto finances can be chaotic, whether utilizing hot or cold storage or relying on centralized exchanges (CEXs). Forgetting a seed phrase, losing a wallet, or access to funds are just a few potential mishaps. Although both centralized and decentralized storage systems carry inherent risks, each offers its own distinct advantages, creating a persistent wallet dilemma…

The post Latest Security Breach hits Arbitrum; Hedgey Finance Loses $1.9 Million in Hacker Attack appeared first on Coinpedia Fintech News The crypto market has suffered yet again, due to a recent exploitation on the ARB chain and a big hack on the Hedgey Finance token claim contract that resulted in a huge financial loss for the protocol. Attacker Steals Over $40 million in Tokens A web3 security firm, cyvers, flagged the hack and revealed that the attack on the…

Dubai, UAE, April 18th, 2024, Chainwire Mind Network and Io.net are partnering to take on centralized AI. Mind Network brings its advanced Fully Homomorphic Encryption (FHE) solution to Io.net’s decentralized compute platform to help galvanize Io.net’s product security and boost its ability to service the global GPU shortage. This partnership will significantly improve security and efficiency in crypto AI computations. Computational efficiency and data security are key challenges to be solved in crypto AI and this collaboration is among the…

Chainlink has announced a new partnership with Cyfrin, a smart contracts audit and research firm, to offer users of its BUILD and SCALE programs private smart contract and protocol audits. Cyfrin will offer market-leading products, including competitive audits platform CodeHawks, developer education platform Updraft, and Solodit, an aggregator with over 8,000 security findings. Chainlink’s mission to offer its ecosystem the best products and services took a massive stride this week, with the oracle network announcing a new partnership with Cyfrin,…

The post Millions Lost! Base Network Hack Exposes DeFi Security Gaps appeared first on Coinpedia Fintech News The recent breach at Grand Base, resulting in a loss of over $2 million, highlights the vulnerabilities in networks like Base. In the fast-paced world of decentralized finance (DeFi), where innovation meets risk, understanding such breaches is crucial. Grand Base, known for its ability to transfer assets across different chains, fell victim to a complex cyberattack, revealing a major flaw in the Base…

Singapore, April 11th, 2024 — Merlin Chain, a trailblazer in Bitcoin-native layer 2 (L2) protocols, has rolled out a comprehensive suite of security measures alongside revolutionary chain architecture. This initiative follows the platform’s remarkable achievement of securing a $3.5 billion Total Value Locked (TVL) just 30 days after its mainnet launch, attracting an impressive cohort of over 200 projects to its rapidly expanding ecosystem. At the heart of Merlin Chain’s ethos is a steadfast commitment to robust security, a principle…