Algofi, the largest decentralized finance protocol on layer-1 blockchain Algorand, said it will shut down and plans to halt lending, borrowing and trading imminently.

The exploiter wallet address still holds over 374 ETH and Etherscan has marked the address as linked to the Rodeo exploit, The DeFi protocol had $20 million in total value locked (TVL) which has fallen below $500 after the exploit.

Algofi, the largest DeFi protocol in the Algorand ecosystem, has announced its decision to wind down its operations, ALGO token resilient.

Algofi, Algorand's largest DeFi protocol, will shuttter operation due to the non-viability of its current operations.

The upcoming news of Bitcoin halving has made the shares price of MicroStrategy to go up 7% in the last 24 hours.

A borrower listed a Patek Phillipe luxury watch and used an NFT representing its ownership to get a $35,000 loan.

Arcadia Finance, a decentralized finance (DeFi) protocol, has suffered a major setback after falling victim to a code exploit, resulting in a significant loss of approximately $455,000. 

DeFi's rapid growth offers new investment opportunities, but complex processes exclude retail users. Automated trading infrastructure can bridge the gap

The proposal is intended to limit losses from events like the Multichain incident, where more than $100 million in unexplained withdrawals occurred.

Blockchain security firm PeckShield originally claimed that the attack was the result of untrusted inputs.

Four major crypto drainers —Pink, Pussy, Venom and Inferno — have stolen $66 million already in 2023.

Leveraging its successful $4.5m fundraising, Swaap launches its v2 protocol, bringing easy-to-use and powerful market-making strategies to the global DeFi community. Swaap v2 is unique in addressin...

Arcadia Finance gets exploited by attacker. Will the Optimism network be impacted significantly by these attacks?

While the investigations are underway, Arcadia’s code houses another vulnerability, which could prove catastrophic for the protocol if exploited.

On-chain indicators have been hinting at the bullish signals for Bitcoin with whale accumulation and exchange reserves dropping.

Jacob Shiach, CEO of Union Finance, introduced Union Finance's permissionless credit protocol, which aims to facilitate decentralized lending

A lawyer advises BarnBridge protocol to stop all operations due to an ongoing investigation by the US SEC

The Bank for International Settlements (BIS) has released a plan to protect central bank digital currencies (CBDCs) from cybersecurity threats in the decentralized finance (DeFi) sector

DeFi platform Arcadia Finance faces a potential exploit resulting in a loss of $455K. The incident has led to a 76% slump in Arcadia's TVL.

Fake gas tokens are being deployed to lure users into revoking dodgy transactions to net the high transaction fees for crypto scammers.

The number of sign-ups to Meta’s Threads is quickly nearing 100 million, but there are concerns some are there for nefarious reasons.

MultiChain is down for over 30 hours after the hack while $67.5 million of stolen assets have been frozen and $1.85 million tokens burned.

Polygon Labs, the main software developer behind the namesake blockchain project, is reorganizing its leadership team, including appointing a new chief executive officer. The reshuffle comes a month after the US Securities and Exchange Commission said it considered Polygon’s native token to be a security.

Bitcoin is ending the week on a down note after the optimism that pushed the price of the largest digital asset to a one-year high fades amid a flurry of fresh industry turmoil and crosscurrents in global financial markets.

Crypto enthusiasts are hopeful that a once-in-four-years event which rewrites the underlying code of the world’s biggest cryptocurrency will extend the current market rally. But the milestone also risks sounding the death knell for certain Bitcoin miners.

Six people were indicted in New York City for conspiring in an alleged fraud scheme involving straw donations tied to the 2021 campaign of Mayor Eric Adams.

Voucher programs can speed uptake of less-polluting electric bicycles and get more people out of cars. Why are states and cities limiting their effectiveness?  

San Francisco’s sluggish recovery from the pandemic may end up costing the city its pristine top-tier credit rating.

When Tesla Inc. introduced its battery-powered Model S sedan in 2012, it included a proprietary plug for recharging used by no other automaker. The company also installed its own network of high-speed chargers exclusively for Teslas. Rival carmakers took a different approach. They used a variety of plug designs and relied on independent companies to build and operate public charging networks using those plugs. Then suddenly this spring, Ford Motor and General Motors announced that their future e

The Texas heat dome showed how vulnerable incarcerated individuals are to heat waves. In a warming world, that’s becoming an increasingly deadly problem.

The University of North Carolina at Chapel Hill will increase financial aid and outreach to applicants in lower-income communities after the US Supreme Court last week effectively barred colleges from using race as a factor in admissions.

The advantages of such schemes are usually clear, but what Manhattan needs right now is more people and more crowding, not less.  

Pricey kicks aren’t topping buyers’ lists right now. That doesn’t mean the company isn’t fully aware of its shortcomings.

Democracy thrives on open debate — even if that means letting people say crazy things during a public health emergency.

Sir Elton John will hold what he has described as his "final farewell show" in Sweden this weekend as his tour comes to an end.

Exclusive trips from Rome and through Sicily aim to pamper with less climate guilt

Follow us at @BloombergUK and on Facebook, and wrap up your day with The Readout newsletter.Hello from London, where it appears Rishi Sunak’s honeymoon with investors may truly be over as the outlook for inflation and growth darkens for an economy that’s already lagging behind the other G-7 nations.While investors gave Sunak credit for stabilizing the situation after his ill-fated predecessor, recent reports showing stubbornly strong wage growth and prices — are sapping investor patience, Ph

Dutch Prime Minister Mark Rutte pulled the plug on his own government by cornering coalition partners over a deal to limit the inflow of migrants, setting the stage for a more conservative campaign ahead of elections expected late this year.

An artificial-intelligence tool has shown promise at helping doctors fight aggressive brain tumors by identifying characteristics that help guide surgery.

Since Meta Platforms Inc. launched Threads on Wednesday, millions of users have joined the new social platform that promises “positive, productive conversations” — an apparent swipe at the divisive rhetoric that is common on Twitter and other sites.

Renault SA’s Jean-Dominique Senard says Europe hasn’t woken up to the risk that China cuts off raw material supplies, something which keeps the chairman of the French automaker up at night.

Elon Musk sued the law firm that led the court fight to make him complete his takeover of Twitter, saying it took advantage of the company while running up a $90 million bill.

A New York state judge issued a temporary halt to a new city law scheduled to go into effect next week, which requires minimum wage payments for app-based food delivery workers.

McDonald’s has stopped using tomatoes in food preparations at most of its locations in northern and eastern India amid a fivefold surge in prices as adverse weather conditions have limited the crop’s output.

US employers tempered the pace of hiring while worker pay accelerated unexpectedly, illustrating a healthy yet moderating labor market that keeps the Federal Reserve on track to raise borrowing costs this month.

The European Central Bank is likely to stop increasing interest rates by the end of the year as inflation slows, Natixis SA Chief Executive Officer Stephanie Paix said.

Something for the weekend. 

Stocks rallied when they were forecast to tumble, expected bond gains fizzled, and the recession never came. Now what?