Blockchain Gaming

Risk of Exploits in Upgradeable Smart Contracts

Friday. August 16 at 11:30 PM

1 min. read

The $10 million Ronin bridge exploit on Aug. 6 was caused by a faulty upgrade deployment script, as reported by Verichains. The upgrade lowered the voting threshold for validators to zero, allowing any user to withdraw from the bridge without a signature. Verichains highlighted the risks of interacting with upgradeable smart contracts. The attacker could have taken the full amount if they paid more in gas to avoid being front-run. Ronin, known for hosting Axie Infinity, uses the bridge for fund transfers. The exploit occurred due to an error in initializing a variable during an upgrade. The attacker exploited the system by providing a signature from an unauthorized address. The MEV bot, Frontrunner Yoink, successfully drained over $10 million but returned most funds. This incident underscores the dangers of upgradeable cross-chain bridges and the need for more secure deployment practices.

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Floki Launches University to Educate Crypto Enthusiasts

Wednesday. December 25 at 5:00 AM

Floki has introduced the University of Floki to simplify the complexities of the cryptocurrency world. The educational platform aims to educate the growing community of crypto enthusiasts by offering courses ranging from basic blockchain concepts to advanced DeFi topics. With a focus on accessibility and engagement, the university plans to expand its course offerings led by industry experts. By breaking down intricate ideas into understandable content, the University of Floki seeks to accelerate mainstream crypto adoption. This initiative has garnered positive feedback from the crypto community, emphasizing the importance of practical utility over mere speculation. Positioned strategically to align with the projected increase in crypto users by 2025, Floki's educational efforts aim to empower users and solidify its global presence beyond financial tools. The University of Floki symbolizes the brand's dedication to fostering a knowledgeable and informed crypto user base.

Blockchain Gaming

Telegram's Financial Rebound and Regulatory Challenges

Tuesday. December 24 at 9:00 AM

Telegram achieved profitability in 2024, with revenue surpassing $1 billion for the first time. Pavel Durov, the platform's founder, announced this milestone, attributing the success to diverse monetization strategies. Revenue grew from $350 million in 2023, mainly due to a premium subscription service and expanded advertising. The company's crypto ventures, including the sale of Toncoin, helped address debts and improve liquidity. Despite financial success, Telegram faces regulatory scrutiny for illicit activities on its platform. To address concerns, the company has increased moderation efforts, blocking millions of groups engaged in illegal activities. While focusing on eradicating harmful content, Telegram continues to explore deeper crypto integration for new revenue streams. The platform's growth in blockchain gaming and tokenized Bitcoin transactions on Web3 apps highlights its evolving ecosystem. However, users are advised to exercise caution in cryptocurrency trading, as it remains a high-risk activity.

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Satomony Launches Beta Platform for Bitcoin Asset Management

Tuesday. December 24 at 8:00 AM

Satomony has introduced a beta platform to simplify the management of Bitcoin UTXOs and assets like Ordinals, Runes, and rare sats. The platform aims to address existing adoption barriers by offering a user-friendly interface for consolidating, optimizing, and overseeing Bitcoin holdings. By leveraging features such as drag-and-drop asset management, automated fee adjustments, and one-click tools for extracting hidden sats, users can efficiently manage their assets. Strategic partnerships with industry leaders like Xverse, Leather Wallet, and Liqidium further strengthen Satomony's position in the Bitcoin ecosystem. The platform also hosts a Christmas Ordinals giveaway to engage the community and expand its user base. With a focus on innovation and user experience, Satomony is poised to become a key player in Bitcoin-native asset management, providing valuable solutions for both new and experienced participants in the crypto space.

Blockchain Gaming

Innovative Real Estate Company Enables Cryptocurrency Payments for Agents

Tuesday. December 24 at 7:00 AM

La Rosa Holdings Corp. (NASDAQ: LRHC) has introduced a pioneering initiative for its network of 3,000 real estate agents in the US to receive commissions in cryptocurrency. This move establishes La Rosa as a trailblazer in incorporating blockchain technology into the real estate industry. Agents now have the choice to receive payouts in digital assets, such as Bitcoin (BTC), with a 2% fee structure. The initiative caters to the increasing demand for alternative payment methods and showcases the company's dedication to innovation. By utilizing blockchain technology, La Rosa aims to simplify transactions, boost security, and lower associated fees. The CEO, Joe La Rosa, highlighted the potential benefits of cryptocurrency payments, including faster and more secure transactions, as well as the opportunity for agents to capitalize on digital asset appreciation. This strategic move not only positions La Rosa at the forefront of real estate innovation but also opens up new possibilities for its agents, empowering them with cutting-edge solutions in response to the evolving market trends.

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