Smart Contracts

Crypto Protocol Offers Hacker Job After $2M Theft

Saturday. September 28 at 12:00 PM

1 min. read

Crypto protocol Bedrock extended a job offer to a hacker who stole $2 million from its uniBTC vaults. Tornado Cash developer Roman Storm will face trial in December after a failed attempt to dismiss the case. Bitcoin surged to a two-month high. Bedrock lost $2 million due to a security breach but chose to reward the hacker with a white hat role. Dedaub discovered a vulnerability in Bedrock's uniBTC vaults that could have led to a $75 million theft. Despite no response from the hacker, Bedrock assured the safety of remaining funds and pledged to resume staking once the issue was resolved. Storm, co-founder of Tornado Cash, faces charges related to money laundering and operating an unlicensed business. Bitcoin's price hit $65,521 on Sept. 26, rising alongside stock markets following the US Federal Reserve's rate cut. Treasury Secretary Yellen believes the rate cut will lead to a 'soft landing' for the economy.

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Enhancing Blockchain Security: Chainalysis Acquires Hexagate Amid Crypto Hacks Surge

Thursday. December 19 at 8:00 PM

Chainalysis, a blockchain analytics firm, has acquired Hexagate, a Web3 security provider, to combat the increasing threat of crypto hacks. The acquisition aims to offer a comprehensive risk solution covering prevention, compliance, and remediation. By integrating Hexagate's machine learning tools, Chainalysis seeks to enhance trust in various blockchains by shifting focus from investigations to prevention. Hexagate's tools have already safeguarded over $1 billion in customer funds through real-time threat detection. The acquisition comes at a critical time as crypto thefts continue to rise, with a significant spike in stolen funds reported in 2024. Despite the challenges faced by the crypto ecosystem, CEO Jonathan Levin remains optimistic, emphasizing the importance of equipping Web3 with the necessary tools to ensure security and investor confidence.

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Empowering Web3 Developers with Forte's Open Source Rules Engine

Tuesday. December 17 at 4:00 AM

Forte has introduced the Forte Rules Engine, an open-source tool for developers to create secure on-chain environments and manage digital asset economies for web3 applications. This engine allows developers to set and enforce rules, establish transaction boundaries, handle compliance requirements, and mitigate risks such as volatility and malicious actors. By supporting the long-term utility and economic health of digital assets, the Rules Engine aims to provide a strong foundation for blockchain projects to thrive. Fully compatible with EVM chains and web3 wallets, this innovative solution offers on-chain technologies to build safe and sustainable economies that inspire trust. With features like on-chain guardrails for asset protection and economic stability tools, developers can confidently launch and manage their projects. Forte's Rules Engine is set to redefine blockchain development by prioritizing compliance, economic stability, and trust in the industry.

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Debates on Ethereum Gas Limits: Balancing Stability and Security

Tuesday. December 10 at 7:00 AM

Toni Wahrstätter, a researcher at the Ethereum Foundation, urges caution in increasing Ethereum's block gas limit due to technical challenges. The Ethereum community is discussing the potential risks and benefits of raising the gas limit to enhance network capacity. Wahrstätter points out that surpassing the current 36 million gas threshold is difficult without significant protocol upgrades, as it could lead to propagation failures and network destabilization. The proposed increase to 60 million gas per block may breach vital restrictions on block size, impacting network efficiency. Core developers stress the importance of testing and data collection to evaluate the impact of higher gas limits on Ethereum's security and reliability. The upcoming Pectra 2 network upgrade aims to address these challenges by introducing proposals to improve block sizes and network performance. Overall, a cautious approach is advised to maintain Ethereum's stability amidst ongoing debates and developments in the crypto industry.

Smart Contracts

Cardano's Milestone with Zero-Knowledge Smart Contract

Thursday. November 28 at 12:00 PM

Cardano has achieved a significant milestone by deploying its first zero-knowledge (ZK) smart contract on the mainnet. This milestone, utilizing the Plutus v3 ledger language, enhances the network's capabilities. The ZK smart contract, Halo2, enables zero-knowledge applications and partner chains like Midnight to integrate with Cardano. The Input-Output (IO) Research team verified the Halo2 proof on the mainnet for the Ad-hoc Threshold Multi-signatures scheme, validating 50 out of 90 signatures. This achievement eliminates the need for a trusted setup and addresses security risks and logistical challenges. Halo2's support for recursive proofs allows for efficient proof aggregation, targeting enhanced performance and scalability. By building on modern cryptographic primitives, Halo2 aims to enhance the overall security of zero-knowledge proof, paving the way for real-world applications to reduce costs and improve proof generation speed. Cardano's Hoskinson plans to leverage Bitcoin's code with a DeFi layer to restore its innovative edge, while Wyoming's stablecoin commission faces backlash for bypassing inclusive blockchain procedures.

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