Search results for PeckShield
Crypto
Balance Protocol algorithmic stablecoin Balance Coin plunges more than 99 percent after exploit report
Balance Coin, an algorithmic stablecoin under Balance Protocol, has plunged more than 99 percent after an exploit was reported. Cointelegraph said the token fell to $0.001358 from $0.9954, based on CoinMarketCap data. The coin is designed to track the U.S. dollar, but its one-to-one peg has broken. Blockchain security firm PeckShield said the depeg followed a $915,000 exploit targeting 42DAO.
Crypto
Ethereum layer2 Taiko chain state verification mechanism breached, $1.7 million loss
Ethereum-based layer2 network Taiko confirmed a breach of its chain state verification mechanism, The Block reported. Taiko said all bridges deployed on the protocol were no longer safe and strongly urged users to withdraw funds immediately. It asked centralized exchanges to suspend deposits of the Taiko native token until further notice. Taiko later said the exploit was blocked and withdrawals via its layer1 bridge and ERC20 vault were fully halted.
Crypto
Drift $285 million hack sparks dispute over Circle USDC freeze authority
A $285 million hack of Drift has fuelled debate over whether Circle should have acted more aggressively to block fund movements, CoinDesk reported on Thursday. Blockchain security firm PeckShield said the attacker stole about $71 million in USDC, converted most assets into USDC and used Circle\'s cross-chain transfer protocol to move $232 million worth of USDC from Solana to Ethereum, complicating recovery efforts.