Category: Altcoins

Defi Trader Pockets $250k From Bug Exploit, Hints at Possible Exit Scam by $SYFI Devs

An anonymous Defi trader says he gained almost $250 000 after inadvertently exploiting a rebase bug embedded in the $SYFI Defi token. The trader, who insists he had no prior knowledge about the bug, got this reward after staking an initial investment of 0.5 ETH or about $175 at current prices. In a long Twitter…

September 10, 2020
The future of the Cardano Foundation is in the hands of the community

A spontaneous gathering of around 500 members of the Cardano community will most likely be responsible for deciding on the future of the Cardano Foundation. Charles Hoskinson, the CEO of IOHK, said that he was glad that the community came together to build out the roadmap for the foundation, adding that it was the embodiment…

September 10, 2020
Trader fears $200m in Ethereum collected by a new crypto Ponzi could cause a “disaster”

In 2019, one of the biggest narratives in the crypto market was the PlusToken pyramid scheme. For those unaware, PlusToken was a Bitcoin wallet pyramid scheme operating in Asia that managed to garner over $2 billion worth of deposits over the course of half a year. The scam’s operators attempted to obfuscate the funds they…

September 9, 2020
Here’s why BitMEX is supporting Chainlink and Cardano in first listing since Ethereum

Like Coinbase in its first few years in existence, BitMEX has long been slow with the crypto assets and pairs it is willing to support. The company has stuck to its guns — the Bitcoin perpetual futures contract — and has succeeded, so it makes sense why movement has been slow on the listing front.…

September 6, 2020
Defi’s Raw Deal: Sushiswap Creator Transfers Multi-Sig Control to FTX CEO

After a number of individuals from the crypto community accused the anonymous developer Chef Nomi of exit scamming, the developer transferred the project over to Sam Bankman-Fried, the CEO of the trading platform FTX. On Saturday, September 5, the decentralized finance (defi) community got upset with the creator of Sushiswap, a forked project copied from…

September 6, 2020
Here are four factors that have pushed DeFi coin UMA up 100% in a week’s time

Decentralized finance’s UMA has surged 100 percent in a week as per CryptoSlate data. In a week where most crypto assets experienced strong corrections, with Bitcoin and Ethereum leading altcoins lower, UMA’s performance is a breath of fresh air. But why is the coin up so much in the matter of a week? What factors…

September 5, 2020
Sushiswap Founder Reportedly Exit Scams as Sushi Token Price Tanks

The anonymous founder of Sushiswap has reportedly exit scammed after converting all of his sushi tokens to ETH on September 5. Reports of the alleged scam came a few after the sushi token, which forked from the Uniswap protocol, went up in value to $10 in just 24 hours. A Twitter user Spensernoon first made…

September 5, 2020
Asset manager explains why Ethereum’s transaction fees won’t kill ETH

As covered extensively by CryptoSlate over recent days, Ethereum’s network congestion is reaching an untenable point. At one point in the past week, the average user of the blockchain was spending $50 in ETH to send a single transaction, effectively pricing out a majority of users. To include a personal anecdote, this writer has spent…

September 5, 2020
Defi Boom Fueling ETH Gas Fees, Threatens Viability of Smart Contracts

Growing Ethereum network transaction fees, which touched new highs recently, are a direct consequence of the increasing number of defi projects and yield farming. Yield farmers need to pay ETH for transactions like moving funds in and out of pools. The increased number of yield farmers leads to more transactions and slower confirmations making higher…

September 5, 2020
Fees Bonanza: Ethereum Miners Pocket a Record $113 Million From Fees in August

Ethereum miners are making a killing from transaction fees. In August alone, the miners raked in a total of $113 million in profit, up more than 3,660% from the $3 million earned in April, according to the latest data from Glassnode. This is the highest ether miners have earned from transaction fees ever. The previous…

September 2, 2020