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DeFi

Is there something rotten at Mango DAO? – DL News

CoinFlix Staff

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Mango Markets insiders hit back at accusations they plundered DAO's $37 million treasury – DL News

A version of this article appeared in our Decentralized newsletter of May 14. Register here.

general manager, Alex here I replace Tim again.

Here’s what caught my eye about DeFi recently:

  • Mango DAO’s problems didn’t stop with Avi Eisenberg.
  • Ethereum wallet proposal from Vitalik Buterin.
  • Hacker returns millions of stolen Bitcoins.

Mango DAO executives respond to takeover controversy

Most of our readers are probably familiar with Solana DeFi protocol Mango Markets’ 2022 exploit, in which infamous trader Avraham Eisenberg managed to steal around $110 million in crypto.

Eisenberg income a good portion of the money to Mango DAO, the digital cooperative that manages the protocol. Since then, Mango has limped forward, with deposits at a fraction of their pre-mining peaks.

But it wasn’t really left for dead. After reviewing the recent actions taken by DAO leaders, critics think something smells rotten.

Mango DAO core contributors John Kramer and Max Schneider were accused of purchasing 333 million MNGO governance tokens and then pushing through a proposal to sell them back to the DAO at an inflated price for an alleged profit of 3 million dollars.

My colleague Tim Craig contacted both. They denied the accusations.

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But questions remain.

MNGO tokens were purchased from the estate of the collapsed exchange FTX. On-chain evidence suggests that Schneider and Kramer’s trading company, called CKS Systems, may be behind the purchase.

DL News asked Schneider if CKS Systems purchased MNGO tokens from FTX. He declined to comment.

Vitalik wants to make Ethereum wallets more user-friendly

Let’s be real: using crypto can be terrifying, with irreversible transactions, missing or forgotten keys, etc.

The solution? “Account Abstraction,” which brings a Web 2 style experience to crypto. Think: passwords and usernames, for example.

Account abstraction has been around for over a year. But this did not understandwith a member of the Ethereum Foundation calling so-called “smart accounts” that use AA “second-class citizens”[s] of the network. »

Enter itinerant software developer (and Ethereum co-founder) Vitalik Buterin.

Buterin recently wrote a proposal that would allow existing wallets to use AA. Right now, Ethereum users have to go to the trouble of creating entirely new smart accounts.

“This is still a very early proposal, so we need to evaluate all the rough edges,” said Marius van der Wijden, lead developer of Ethereum. DL News.

If successful, the proposal will unlock new transaction types, prevent users from losing access to their funds via email recovery, and even facilitate new use cases for the leading smart contract network.

Dubbed EIP-7702, the proposal will likely be included in the next major Ethereum upgrade. This upgrade is planned for the fourth quarter of 2024.

Bitcoin Hacker Returns Funds for a “Bounty”… But Doesn’t Keep the Bounty

I’ve seen a lot of crypto hacks. Most of them look like this:

The hacker drains a protocol. Protocol representatives, wary of a lengthy manhunt, tip their hats and make an offer: return 90% of the crypto, and we’ll pretend it’s a “bug bounty” – a payment for the service of finding a vulnerability in our design. No call to the police, no prosecution. The hacker usually ignores this request.

Not this time.

A few weeks ago, someone scooped up a staggering $72 million in wrapped Bitcoin tokens – Bitcoin on the Ethereum blockchain.

This was a classic phishing attack, in which the hacker convinced the victim to send their crypto to the wrong address. (Where is account abstraction when you need it?)

But the victim and the hacker agreed to a deal that provides for the return of 90% of the funds. The two sides negotiated the deal via chain messaging and Telegram chats.

“You win, brother. You can keep 10% and give back the 90%. We can pretend like nothing happened,” the victim communicated to the hacker via chain messaging on May 4. “We both know that $7 million is enough to live very comfortably, but $70 million will keep you up at night.”

The saga took another turn on Friday.

According to on-chain data, the hacker returned all the cryptography. It’s not immediately clear why they didn’t keep their 10%, but crypto security company Match Systems released a statement saying this had contributed to the recovery.

“At the moment, the victim has no complaints against the attacker. Further comments will be provided at a later date,” Match said.

Data of the week — The rise of ZkLink

ZkLink Nova, a new layer 3 blockchain, had a have a nice week end:

It wasn’t just about transactions. According to data from DefiLlama, crypto deposited in ZkLink Nova’s DeFi ecosystem has more than doubled since Friday.

This week in DeFi governance

VOTE: Uniswap wants to make people more active in governance.

VOTE: Arbitrum wants to get into mergers and acquisitions.

VOTE: Aave is looking to fund GHO’s stability modules.

Article of the week

Billionaire Mark Cuban is defending crypto amid a series of posts in which he criticizes Securities and Exchange Commission Chairman Gary Gensler’s treatment of the sector.

What we watch

The crypto resulting from the hack of Parity in 2017, the company behind the Polkadot blockchain, is on the move:

In 2017, the hacker stole 150,000 Ether, worth around $30 million at the time. On Monday, the hacker began laundering approximately $9 million in Ether. They control a wallet containing approximately $250 million in Ether.

Do you have a tip on DeFi? Contact us at aleks@dlnews.com.



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We are the editorial team of CoinFlix, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on CoinFlix, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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DeFi

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

CoinFlix Staff

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If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Bonk and Pepe appear set to net new investors 10x to 100x returns over the next 12 months. However, cryptocurrencies in the DeFi play-to-earn gaming sector could offer even greater returns. As August approaches, Rollblock is emerging as a standout DeFi play-to-earn gem with the potential to 100x-1000x gains in the fourth quarter and beyond.

The project features an innovative revenue sharing model and exceptional accessibility, attracting players and investors. Additionally, Rollblock’s extensive game library of over 150 titles and enhanced sports betting are further driving excitement for the platform. Cryptocurrency analysts are expecting a sudden surge in demand. 800% a push for Rollblock from the beginning of September.

Bonk remains strong despite market fluctuations

While most well-known cryptocurrencies struggled throughout July, Bonk remained strong. As one of the highest-grossing meme cryptocurrencies of 2024, Bonk rose over 24% in July, while most cryptocurrencies experienced negative fluctuations.

Investors looking to add a relatively safe memecoin to their portfolio should consider Bonk. While Bonk is unlikely to generate explosive gains of 250x to 1,000x from here on out, Bonk could still theoretically provide returns in the 20x to 100x range.

Pepe should see a big rise in the next bull run

Alongside Bonk, Pepe has yet to go through a bull run. This means that there are still substantial gains to be made from Pepe over the next 12 months.

Pepe is down 4% in 30 days, but that shouldn’t worry Pepe investors in 2024. Experts believe Pepe’s best days are still ahead, with crypto analysts predicting a 10x to 50x surge in the next election cycle around November.

In the long term, Pepe could surpass the 100x mark for today’s investors. However, Pepe is a memecoin, and one should exercise caution when investing in purely speculative assets that have no utility.

Rollblock’s Unprecedented Hype Potential Could Push It Past 100x Valuation in Q4

Rollblock is a GambleFi Play-to-Earn token that integrates centralized and decentralized gambling on a single platform. By allowing players to earn rewards through active participation and gameplay, the platform creates a compelling incentive structure that appeals to both casual and competitive players.

With its cutting-edge blockchain technology, Rollblock offers top-notch security that keeps bets and transactions on the platform secure. The platform’s lack of KYC mandates appeals to both users who value anonymity and security.

Rollblock’s revenue sharing model, which allocates up to 30% of casino revenue to RBLK token holders, is a major draw for investors. The model involves burning half of the repurchased tokens and distributing the other half to stakers, increasing the token’s value and encouraging long-term investment.

The platform is also constantly evolving thanks to user feedback which has enabled updates such as the upcoming sports betting feature within the platform’s casino. This addition will complement Rollblock’s extensive game library of over 150 titles, ranging from traditional poker to innovative blockchain-based games.

RBLK is expected to emerge as one of the leading DeFi tokens in 2024. With a price of $0.0172 with impressive growth potential and over 140 million tokens sold recently, Rollblock is on track to enter the top 100 cryptocurrencies by Q4, making today a lucrative time to buy RBLK tokens.

Discover the exciting opportunities of the Rollblock (RBLK) presale today!

Website: https://presale.rollblock.io/

Social networks: https://linktr.ee/rollblockcasino

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DeFi

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

CoinFlix Staff

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Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Veteran cryptocurrency investor Arthur Cheong believes the digital asset sector offers long-term holders a golden opportunity.

Cheong, the founder of DeFiance Capital, tell His 171,700 followers on social media platform X indicate that he believes decentralized finance (DeFi) is hugely undervalued.

According to Cheong, DeFi projects are innovating at a rapid pace and leaving traditional financial (TradFi) companies in the dust.

“It’s been a long time since I’ve been this excited about the risk/reward and potential upside of DeFi. This is probably the most misjudged moment since the pre-DeFi summer of 2020, with extremely promising prospects.

I see opportunities not only in OG (original) DeFi, but also in some newer projects that are evolving rapidly and growing at a pace that fintech startups will do anything to match.

The veteran investor also believes that crypto is now here to stay following recent launch from the Ethereum spot market (ETH) exchange-traded funds (ETFs) last week.

“Overall, the floodgates are open and there is no turning back. TradFi asset managers will continue to launch new crypto products because, guess what: there is huge demand for them!”

I expect them to launch actively managed crypto ETFs [in the] coming years. ”

Earlier this month, Cheong laid that it might be a bad strategy for cryptocurrencies to seek mass adoption, believing that digital assets are designed to disrupt several key financial sectors.

“I think we should accept that cryptocurrencies may not be suited for mass adoption like Web2, but rather are optimized for some narrow but very high-impact use cases like stateless global money, cross-border payments, and decentralized finance.

Chasing mass adoption of normies may be chasing the wrong Grail from the start.

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follow us on X, Facebook And Telegram

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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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DeFi

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

CoinFlix Staff

Published

on

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Veteran cryptocurrency investor Arthur Cheong believes the digital asset sector offers long-term holders a golden opportunity.

Cheong, the founder of DeFiance Capital, tell His 171,700 followers on social media platform X indicate that he believes decentralized finance (DeFi) is hugely undervalued.

According to Cheong, DeFi projects are innovating at a rapid pace and leaving traditional financial (TradFi) companies in the dust.

“It’s been a long time since I’ve been this excited about the risk/reward and potential upside of DeFi. This is probably the most misjudged moment since the pre-DeFi summer of 2020, with extremely promising prospects.

I see opportunities not only in OG (original) DeFi, but also in some newer projects that are evolving rapidly and growing at a pace that fintech startups will do anything to match.

The veteran investor also believes that crypto is now here to stay following recent launch from the Ethereum spot market (ETH) exchange-traded funds (ETFs) last week.

“Overall, the floodgates are open and there is no turning back. TradFi asset managers will continue to launch new crypto products because, guess what: there is huge demand for them!”

I expect them to launch actively managed crypto ETFs [in the] coming years. ”

Earlier this month, Cheong laid that it might be a bad strategy for cryptocurrencies to seek mass adoption, believing that digital assets are designed to disrupt several key financial sectors.

“I think we should accept that cryptocurrencies may not be suited for mass adoption like Web2, but rather are optimized for some narrow but very high-impact use cases like stateless global money, cross-border payments, and decentralized finance.

Chasing mass adoption of normies may be chasing the wrong Grail from the start.

Don’t miss a thing – Subscribe to receive email alerts directly to your inbox

Check Price action

follow us on X, Facebook And Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured image: Shutterstock/ktsdesign



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DeFi

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

CoinFlix Staff

Published

on

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Bonk and Pepe appear set to net new investors 10x to 100x returns over the next 12 months. However, cryptocurrencies in the DeFi play-to-earn gaming sector could offer even greater returns. As August approaches, Rollblock is emerging as a standout DeFi play-to-earn gem with the potential to 100x-1000x gains in the fourth quarter and beyond.

The project features an innovative revenue sharing model and exceptional accessibility, attracting players and investors. Additionally, Rollblock’s extensive game library of over 150 titles and enhanced sports betting are further driving excitement for the platform. Cryptocurrency analysts are expecting a sudden surge in demand. 800% a push for Rollblock from the beginning of September.

Bonk remains strong despite market fluctuations

While most well-known cryptocurrencies struggled throughout July, Bonk remained strong. As one of the highest-grossing meme cryptocurrencies of 2024, Bonk rose over 24% in July, while most cryptocurrencies experienced negative fluctuations.

Investors looking to add a relatively safe memecoin to their portfolio should consider Bonk. While Bonk is unlikely to generate explosive gains of 250x to 1,000x from here on out, Bonk could still theoretically provide returns in the 20x to 100x range.

Pepe should see a big rise in the next bull run

Alongside Bonk, Pepe has yet to go through a bull run. This means that there are still substantial gains to be made from Pepe over the next 12 months.

Pepe is down 4% in 30 days, but that shouldn’t worry Pepe investors in 2024. Experts believe Pepe’s best days are still ahead, with crypto analysts predicting a 10x to 50x surge in the next election cycle around November.

In the long term, Pepe could surpass the 100x mark for today’s investors. However, Pepe is a memecoin, and one should exercise caution when investing in purely speculative assets that have no utility.

Rollblock’s Unprecedented Hype Potential Could Push It Past 100x Valuation in Q4

Rollblock is a GambleFi Play-to-Earn token that integrates centralized and decentralized gambling on a single platform. By allowing players to earn rewards through active participation and gameplay, the platform creates a compelling incentive structure that appeals to both casual and competitive players.

With its cutting-edge blockchain technology, Rollblock offers top-notch security that keeps bets and transactions on the platform secure. The platform’s lack of KYC mandates appeals to both users who value anonymity and security.

Rollblock’s revenue sharing model, which allocates up to 30% of casino revenue to RBLK token holders, is a major draw for investors. The model involves burning half of the repurchased tokens and distributing the other half to stakers, increasing the token’s value and encouraging long-term investment.

The platform is also constantly evolving thanks to user feedback which has enabled updates such as the upcoming sports betting feature within the platform’s casino. This addition will complement Rollblock’s extensive game library of over 150 titles, ranging from traditional poker to innovative blockchain-based games.

RBLK is expected to emerge as one of the leading DeFi tokens in 2024. With a price of $0.0172 with impressive growth potential and over 140 million tokens sold recently, Rollblock is on track to enter the top 100 cryptocurrencies by Q4, making today a lucrative time to buy RBLK tokens.

Discover the exciting opportunities of the Rollblock (RBLK) presale today!

Website: https://presale.rollblock.io/

Social networks: https://linktr.ee/rollblockcasino

No spam, no lies, only insights. You can unsubscribe at any time.

Fuente

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