Circle(@circle) just minted another 1B $USDC on #Solana!
https://t.co/6dITkpO0hm https://t.co/b8E75fq9KM
Circle(@circle) just minted another 1B $USDC on #Solana!
https://t.co/6dITkpO0hm https://t.co/b8E75fq9KM
The Open USD announcement is a big deal. I’m really curious to see how Circle responds. USDC has huge network and first mover advantages. The strategic move they make next is what I’m watching for. https://t.co/rSu2fX9trR
🚨 SlowMist: Edeldot finance was attacked, losing about $350,000
According to SlowMist disclosure, the DeFi protocol https://t.co/Gbwui5JGcT suffered a flash loan + donation attack, resulting in a loss of about $350,000.
The attacker exploited a design flaw in the ERC-4626 vault where the price source directly reads the totalAssets() balance, injecting assets via direct transfer to inflate share price, then manipulating the oracle to siphon funds from the Aave Pool. The vault did not have a TWAP, interest rate cap, or donation protection mechanism.
Edel Finance protocol was hacked, resulting in a loss of about $350K. The assets included:
204,215 USDC
122.19 wSPYx
62.97 wQQQx
293.12 wMSTRx
99.85 wNVDAx
37.59 wTSLAx
See the reason for the vulnerability below 👇
USD Coin is a stablecoin brought to customers by Circle and Coinbase. It is an open source, smart contract-based stablecoin. True financial interoperability requires a price stable means of value exchange. CENTRE’s technology for fiat-backed stablecoins brings stability to crypto. The initial implementation is USD Coin (USDC), an ERC-20 token creating possibilities in payments, lending, investing, trading and trade finance — and the ecosystem will grow as other fiat currency tokens are added.