A vast majority of Cardano (ADA), Polygon (MATIC) and Shiba Inu (SHIB) holders are sitting on unrealized losses, according to data from crypto intelli
Coinbase exchange's Layer 2 chain, BASE witnessed another rugpull on Magnet Finance, a lending protocol hosted on the blockchain. The users of the protocol lost $6.4 million to the deployer, a scammer associated with exploits of Kokomo Finance and Solfire. Crypto expert ZachXBT identified the vulnerability and informed his 434,000 followers, nearly an hour before the exit scam.
Magnate Finance refers to itself as a novel lending protocol on Coinbase’s BASE chain. The protocol amassed $6.4 million in crypto assets locked on its platform since its launch on August 4, according to DeFiLlama. ZachXBT identified links between the deployer of the project and the Kokomo Finance exit scam. Information on these pages contains forward-looking statements that involve risks and uncertainties.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cardano Price Forecast: ADA needs at least 6% rally before bulls returnCardano price slips into consolidation mode after August 17’s decline. The consolidation is an opportunity in disguise for sidelined buyers as the end
Read more »
XRP price battles price drop as Ripple announces readiness for trial in SEC lawsuitXRP price is preparing for a 55% price rally with two bullish catalysts. South Korean investors' preference for XRP and the latest developments in the SEC vs.
Read more »
Large cryptocurrencies rise as Solana ralliesAll large cryptocurrencies were up during morning trading on Wednesday, with Solana seeing the biggest change, rising 2.57% to $20.75. Uniswap rallied 2.48%...
Read more »
What are practical use cases of cryptocurrencies?Explore some of the practical use cases of cryptocurrencies, from international payments to hedging against inflation.
Read more »
Cardano's Hoskinson Says SEC Not Coming After ADACardano founder Charles Hoskinson clarifies the commission's stance on ADA, asserting there's been 'no enforcement event' targeting the token
Read more »
Most big cryptocurrencies fall as Polygon declinesMost large cryptocurrencies were down during morning trading on Thursday, with Polygon seeing the biggest move, dropping 1.75% to 55 cents. Seven additional...
Read more »