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Research / paw-prints-of-thieves
PAW PRINTS OF THIEVES
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BEQUANT Crypto&Coffee

The market for digital assets is often praised for its ability to withstand market turmoil and this has been particularly evident in the DeFi market which, despite the push towards external security audits, poses risk to participants. Thus, the latest of such incidents was highlighted by Core Yearn developer "Banteg" who stated that "the attacker got away with $2.8 million, the vault lost $11 million. Deposits into strategies disabled for v1 DAI, TUSD, USDC, USDT vaults while we investigate." The Yearn team has been made aware that the v1 yDAI vault has suffered an exploit. The exploit in question has been mitigated. Yet again, the thieve utilised flash loan structure and the paw prints led to the following address where the spoils were deposited to 0x14ec0cd2acee4ce37260b925f74648127a889a28. 

As a result of the aforementioned exploit, the DeFi market participants dipped off the highs and in particular YFI. Still, as alluded to earlier, yield farmers have become particularly resilient to such market stresses and while it is certainly not a great development when marketing for new prospective DeFi entrants, everyone is aware of the high yield stakes game they are participating.

However, another doggy left plenty of visible paw prints and that is Dogecoin (DOGE), which surged more than 50% on Thursday to trade around $0.059 per coin. As per CoinDesk report, the news was apparently welcomed by Elon Musk who made several tweets about the cryptocurrency, despite a pledge two days ago to stay off Twitter for “a while.” In one, Musk shared a Lion King-inspired Meme featuring a photoshopped image of himself raising the iconic DOGE shiba inu dog to the sky. He continued with a string of tweets describing the cryptocurrency as the “people's crypto” adding, “No highs, no lows, only Doge.”

Elsewhere, “the volume of crypto traded on our platform greatly exceeded our projections,” PayPal CEO Dan Schulman said on the company's fourth-quarter earnings call. “We're excited to build on this early success by allowing customers to use their crypto balance as a funding source. … We hope to launch our first international market in the next several months.” PayPal has been working with regulators and central banks to shape the “next generation of the financial system,” Schulman added. The company is also investing in its crypto business unit, Schulman said.

Finally, Investor and entrepreneur Dan Tapiero is launching a $200 million fund called 10T Holdings to invest in cryptocurrency startups. The long-time bitcoin advocate filed to launch the new fund Tuesday, per documents from the U.S. Securities and Exchange Commission. In addition to Tapiero, the filing lists as investors longtime investor Michael Dubilier and Stan Miroshnik, former CEO of crypto-focused advisory firm Argon Group.

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