Term Finance Suffers $8.5 Million Treasury Drain; DeFi Security Breached Again

The Ethereum lending protocol Term Finance suffered a treasury attack, resulting in the theft of $8.5 million in assets. The incident exposes contract vulnerability risks inherent in fixed-rate models, highlighting the need for the industry to remain vigilant against systemic shocks caused by smart contract defects.

Zhitong FinanceAug 24 11:25

Express News | Bofur Capital suffered an address poisoning attack, incurring losses of approximately $2 million.

On August 22, according to PeckShieldAlert monitoring, an address labeled as Bofur Capital suffered an address poisoning attack after withdrawing funds from Compound, resulting in a loss of approximately $2 million. The attacker sent a dust transaction of 0.0002 USDC to forge a similar-looking address. The victim inadvertently used the incorrect address during a copy-paste operation, leading to the theft of funds. The stolen assets have since been converted into approximately 2 million DAI.

BreakingsAug 22 09:10

Express News | A hacker spent 38.535 million DAI/USDS over the past five hours to purchase 18,273 ETH at a price of $2,109.

On August 20, according to on-chain analyst Yu Jin, a hacker spent 38.535 million DAI/USDS over the past five hours to purchase 18,273 ETH at a price of $2,109. These stablecoins originated from 17,124 ETH received via Tornado Cash nine months ago, which were subsequently sold at an average price of approximately $3,308 and converted into DAI and USDS for holding. The hacker repurchased ETH today amid a strong rebound in its price.

BreakingsAug 20 09:22

Express News | After two months of inactivity, the Pando Rings attacker exchanged 3 million DAI for 1,570 ETH.

On August 18, according to monitoring by Onchain Lens, the Pando Rings attacker resumed activity after two months of silence, exchanging 3 million DAI for 1,570 ETH (approximately $3 million) via the CoW Protocol. Subsequently, the attacker transferred 800 ETH (approximately $1.52 million) to Tornado Cash through eight transactions. Pando Rings previously suffered an oracle manipulation attack in November 2022, resulting in losses of approximately $20 million.

BreakingsAug 18 08:24

Behind the Trillion-Dollar Stablecoin Transfer Volume: Where Does the Real Demand Come From?

Author: Tanay Ved; Compiled by: Baihua Blockchain. The annualized turnover rate for every $1 of USD Coin ($USD Coin(USDC.CC)$) supply reaches as high as 741 times, tenfold that of Tether ($泰达币(USDT.CC)$) (74 times), despite USDT’s market capitalization exceeding that of USDC by over $100 billion. The high turnover of USDC is driven by DeFi infrastructure across various public blockchains, such as liquidity pool rebalancing on Base and flash loan arbitrage on Ethereum ($以太坊(ETH.CC)$).

PANewsAug 17 09:00

Express News | World Liberty Financial, a crypto project affiliated with the Trump family, has received conditional approval to establish a trust bank.

On August 16, World Liberty Financial announced that the U.S. Office of the Comptroller of the Currency (OCC) had granted preliminary conditional approval for the establishment of World Liberty Trust Company (WLTC), a national trust bank. The bank is intended to specialize in stablecoin services and will be responsible for the issuance and redemption of the USD1 dollar-pegged stablecoin, management of reserve assets, and digital asset custody for institutional clients. World Liberty Financial maintains close ties with the Trump family. When the company was founded in 2024, it involved participation from members of the Trump family and the Witkoff family, among others. Donald Trump himself is listed as an "Honorary Co-Founder," and his son is also involved in the company's operations.

BreakingsAug 16 15:08