Lido's Protocol Triumphs Over Hack Attempt
Finance/Tech

Lido's Protocol Triumphs Over Hack Attempt

A look into Lido's recent near-hack and the evolving landscape of decentralized finance as Bitcoin DeFi gains momentum and Telegram ramps up its crackdown on crypto crime.

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Welcome to The Protocol

CoinDesk’s weekly overview of critical developments in the cryptocurrency technology landscape. This issue includes:

Key Highlights

  • Hack Attempt on Lido: Lido successfully thwarted a significant security breach when one of its oracle keys was compromised. While it resulted in the theft of 1.46 ETH (about $4,200), user funds remained secure.

  • Bitcoin DeFi Grows: According to a report by Messari, Bitcoin’s decentralized finance initiatives are becoming safer with increased security measures.

  • Upcoming Ethereum Upgrade: After the successful implementation of Pectra, Ethereum developers are prioritizing the next major upgrade, dubbed Fusaka.

  • Telegram’s Action on Crypto Crime: Following recent findings, Telegram has removed numerous channels associated with suspected crypto-crime markets, particularly targeting a marketplace that has facilitated over $8 billion in transactions.

For those looking for in-depth updates, sign up for CoinDesk’s Protocol newsletter to get weekly highlights directly to your inbox!

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