BonqDAO protocol suffers $120 million loss after oracle hack

A small-scale decentralized autonomous organization (DAO) has suffered a fairly significant smart contract exploit that resulted in approximately $120 million being stolen from its protocol. BonqDAO, which is behind the Bonq protocol, told its Twitter followers on February 1 that its protocol had been exposed to an oracle hack that allowed the exploiter to manipulate … Read more

Ethereum’s Shanghai Fork Is Coming — But That Doesn’t Mean Investors Should Ditch ETH

Ethereum’s next big upgrade, Shanghai, is on the horizon for March. The Shanghai hard fork will implement further improvement proposals for the Ethereum network as well as allow Ether (ETH) participants and validators to withdraw their assets from the Beacon chain. At the time of writing, the ETH staked represents about 14% of the total … Read more

UK to impose ‘strong’ standards on crypto industry after FTX collapse

The UK government is keen to strengthen regulations in the local cryptocurrency sector to prevent another adverse event like the FTX collapse. The newly appointed Prime Minister – Rishi Sunak – is known as an advocate of blockchain technology, arguing that the country should emerge as “a global hub of crypto technology”. Protecting the people … Read more