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Home ยป DeFi Continues Recovery Efforts Post Exploits: Binance Invests $5M in Curve Token

DeFi Continues Recovery Efforts Post Exploits: Binance Invests $5M in Curve Token

DeFi Ecosystem Strives to Overcome Hacks, Binance Supports Curve Token

by coinbrit
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The aftermath of the Curve Finance hack has cast a shadow over the DeFi ecosystem’s recovery, with a fresh wave of exploits hitting the scene. Amid this, Binance has stepped in with a $5 million investment in Curve tokens to mitigate potential contagion risks.

Ongoing Exploits Impact DeFi

The DeFi protocol Steadefi fell victim to an ongoing exploit, compounding the ecosystem’s struggles post-Curve crisis. Even as DeFi seeks stability, these new vulnerabilities have underscored the need for enhanced security measures.

Aptos’ AI-Blockchain Fusion and Coinbase’s Base Network Launch

Aptos, the driving force behind Aptos Network, saw an 11.6% surge in its token value after partnering with Microsoft. This collaboration aims to amalgamate AI tools and blockchain for Web3 adoption among financial institutions. Meanwhile, Coinbase’s Base network has officially launched, garnering interest from various Web3 development teams.

Steadefi Falls Victim, DeFi Market Faces Challenges

In a disconcerting development, DeFi app Steadefi was exploited for around $334,000. The attack’s impact on funds led to a notice from the Steadefi team, indicating that all assets were at risk. This incident and the overall decline in the DeFi market’s total value emphasize the ongoing challenges facing the ecosystem.

 

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