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How a group of Mad Lads tricked Bots into spending $250K on fake NFTs using a Honeypot tactic

The Mad Lads NFT Drop Overcomes Extortion Threats and DDOS Attacks The Mad Lads NFT drop has been the talk of the NFT world recently, becoming the buzziest mint for any profile picture (PFP) project in months and topping the broader market over the weekend. However, the drop itself was quite dramatic, as bots overwhelmed[Read more…]

Chorus One brings MEV protocol to Solana

The Solana blockchain may see a new open-source approach to maximal extracted value (MEV), according to a white paper produced by blockchain protocol architect, Chorus One. The version of MEV for Solana by Chorus One is in the prototype stage, and the company doesn’t intend to deploy it as a competitive platform to other existing[Read more…]

Solana DeFi lender Everlend Finance shuts down its app citing liquidity crunch

Solana-based DeFi lending protocol Everlend Finance has shut down its app platform, despite having sufficient runway to continue operating in the current business environment, the team said on Feb. 1. The Everlend team has moved the platform to withdraw-only mode. Users have been urged to remove their assets. The app will continue to operate until[Read more…]

New SEC filing amends Magic Eden’s Euclid Labs $27 million raise to $16.9 million

A new Securities and Exchange Commission filing said that Euclid Labs, the parent firm of the Solana-based NFT marketplace Magic Eden, may have raised a lower amount than previously known.  The filing submitted on Jan. 25  shows an offering amount as $16.9 million from 31 investors. The filing amends a prior document submitted on March[Read more…]

Blockchain security firm Sec3 raises $10 million in seed funding

Sec3, a blockchain security firm that audits smart contracts among other services, raised $10 million in a seed funding round. Multicoin Capital led the round, with Sanctor Capital and Essence VC participating, Sec3 announced Tuesday. Several angel investors, including Santiago Santos, a former ParaFi Capital partner, and Anatoly Yakovenko, co-founder of Solana, also joined the round.[Read more…]

Kin Foundation debuts Solana-based on-ramp tool for app developers

The Kin Foundation has rolled out a solution called Kinetic that will allow developers to integrate Solana into their apps thus enabling them to introduce crypto use cases on their platforms, the foundation said on Tuesday. Kinetic is an open-source middleware technology for Solana-based in-app integration. It includes both API and SDKs necessary for builders to deploy[Read more…]

Off-chain data provider Pyth expands into the Ethereum ecosystem by launching on Arbitrum

The Pyth Oracle Network launched price feeds on Arbitrum, which previously only had Chainlink oracles available on its network. This move by Pyth, which has majority of its integrations in the Solana ecosystem, is a new foray for its network into the Ethereum ecosystem. Mike Cahill, director of the Pyth Data Association, praised Ethereum and[Read more…]

Raydium hacker funnels $2.7 million through Tornado Cash mixer

An Ethereum address connected with an exploit of Raydium laundered $2.7 million in ether (ETH) through Tornado Cash on Jan 19., security firm CertiK noted. In December Raydium, a decentralized exchange built on the Solana blockchain, was hacked for over $4.4 million in different assets. The hacker was able to withdraw Raydium’s liquidity pool (LP) tokens into their control after[Read more…]

Biggest stories from the crypto space this past week

For a third week in a row, FTX dominated the crypto news circuit with even more startling revelations emerging from the now-bankrupt exchange. From bankruptcy protection proceedings in the U.S. and The Bahamas to rumblings from Capitol Hill, there was no escaping the FTX saga this past week. Here are some of the major developments[Read more…]

Solana-based Metaplex lays off staff following FTX collapse

NFT protocol Metaplex laid off staff due to to the “indirect impact” of the collapse of crypto exchange FTX. While the company said its treasury was not directly impacted and that its fundamentals remain strong, it will take a more conservative approach moving forward, CEO and co-founder Stephen Hess said on Twitter. Metaplex is an ecosystem of[Read more…]