The widespread adoption of cryptocurrencies continues as more businesses accept crypto as a form of payment and more professional athletes request their salaries in Bitcoin. From leading analyst price predictions and potential SEC regulatory decisions to the latest buzz surrounding celebrity tweet discussions, crypto investments have certainly captured the world’s attention. Bitcoin IRA, the world’s […]

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The post Solana Set For Another Bearish Cycle! SOL Price To Dump More Than 20% appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

The Solana price is more than 60% away from its ATH and the metric signifies that its loss of profits to competing cryptocurrencies is driving the latest correction. The past couple of months has been tragic for the crypto-verse. The wider crypto market cap has lost over $600 billion in market cap.  Specifically, Solana’s drop …

Wormhole, a popular cross-chain bridge between Solana and other DeFi-based blockchain networks has been hacked for about 120,000 wETH (wrapped Ether) worth $320 million, making it the second-largest DeFi hack to date. On Wednesday, the team behind the project officially confirmed that the bridge is currently down while the team investigates a potential exploit. In a follow-up tweet, Wormhole confirmed that the vulnerability was patched and were working to get the network up and running again. The vulnerability has been patched. We are working to get the network back up as soon as possible. — Wormhole🌪 (@wormholecrypto) February 3, 2022 The attack approximately took place at 6:24pm UTC on Feb. 2 where the hacker minted 120,000 wETH (WETH) on Solana, then redeemed 93,750 WETH for ETH worth $254 million onto the Ethereum network at 6:28 pm UTC. Since then, the hacker has used some funds to buy SportX (SX), Meta Capital (MCAP), Finally Usable Crypto Karma (FUCK), and Bored Ape Yacht Club Token (APE). The remaining WETH was swapped for SOL and USDC on Solana. Currently, the attacker’s Solana wallet holds 432,662 SOL worth $44 million. Wormhole Offers $10M Bug Bounty to Hackers Wormhole is a DeFi protocol that allows users to bridge assets across Terra, Solana, Ethereum, Binance Smart Chain, Avalanche and Polygon without the use of a centralized exchange (CEX). When a user transfers assets from one blockchain to another, the DeFi platform locks the transaction and mints a wrapped version of the token to its final chain. About an hour after the exploit, Wormhole offered the hacker a $10 million bug bounty in an on-chain message in return for the funds: “We noticed you were able to exploit the Solana VAA verification and mint tokens. We’d like to offer you a whitehat agreement, and present you a bug bounty of $10 million for exploit details, and returning the wETH you’ve minted.” This is the second smart contract exploit after hackers made off with $80 million from decentralized finance protocol Qubit Finance last week.

The post Wormhole Loses $320M in Second-Largest DeFi Hack Ever appeared first on Cryptoknowmics-Crypto News and Media Platform.

On Wednesday, February 2, one of the most popular crypto bridge networks connecting the Ethereum and the Solana blockchains has faced a massive hack of a staggering $320 million. Warmhole has appraised this event on its Twitter handle stating that the hackers managed to steal a staggering 120K wETH or wrapped Ether. The official announcement

The post Breaking: Ethereum-Solana Bridge Warmhole Exploited In A Massive $300 Million Hack appeared first on CoinGape.

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The post Is This Why Only BTC, SOL, AVAX, And Theta Are Primed To Surge 30% in February? appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

The start of a new month has triggered crypto traders and investors to head on a rigorous hunt for digital assets. The first month of the year was expected to bring virtues to the space. Has been rather bland for the majority of the digital assets in the market. As a result of which folks …

The Solana (SOL) token had spent the better part of January nose-diving as its…

The post Here is why Solana price has been rallying over the past week appeared first on Coin Journal.

VanEck, one of the foremost issuers of cryptocurrency-focused investment products, has announced the launch of its multi-coin cryptocurrency fund in Europe. (Read More)

Ethereum‘s infrastructure for smart contract-based decentralized applications has so far been unmatched in the blockchain industry, primarily due to its first-mover advantage. However, this dominance has been waning significantly over the past couple of years with the emergence of several alternative layer 1 networks that offer similar features to Ethereum, often at a lower price […]

On Monday, the team behind the Solana Web3 wallet platform Phantom announced it had raised $109 million in a Series B fundraise. The crypto company is now a Unicorn with a post valuation of $1.2 billion in value. Solana Web3 Wallet Phantom Raises $109 Million The Phantom wallet team has raised $109 million in a […]