DeFI News by Thebittimes.Com

Erroneous rumors of a possible bug in Bitcoin Core caused widespread panic this weekend as the Bitcoin community jumped to a number of massively off-beam conclusions. The claims appeared in the weekly Optech newsletter produced by non-profits Brink and Bitcoin Operations Technology Group. Most weeks, the letter focuses on largely mundane topics like repository changes, pull request details, or mailing list messages. However, on Friday, it included a vague reference to an “upcoming disclosure of vulnerabilities affecting older versions of Bitcoin Core.” This caused paranoid Bitcoiners to jump to disastrous interpretations and posts to X (formerly Twitter) warning of “ a serious vulnerability with Bitcoin Core v24 ” earned tens of thousands of impressions. If you’re still on bitcoin-core 24.x, it sounds like you should upgrade in the next two weeks unless you really know what you’re doing. https://t.co/J3jwUahW2Q — Rijndael | BIP-420 (@rot13maxi) June 7, 2024 Read more: Do...

A SIM swap attack on the U.S. SEC’s Twitter account led to a false tweet about Bitcoin ETF approval , briefly disrupting the cryptocurrency market. On Jan. 10, the U.S. Securities and Exchange Commission (SEC) experienced a cybersecurity breach, resulting in a misleading tweet about spot Bitcoin ETFs from its official account. This incident, caused by a SIM swap attack, briefly stirred confusion in the cryptocurrency markets. The SEC explained the situation in a statement: “The unauthorized party obtained control of the SEC cell phone number associated with the @SECGov account in an apparent ‘SIM swap’ attack .” This allowed the attack er to reset the Twitter account’s password and post the false announcement . The SEC also admitted that multi-factor authentication, a crucial security feature, was disabled for its Twitter account since July 2023. This decision contrasts with the general cybersecurity recommendations previously endorsed by SEC C...

An error on the Binance Oracle application has led to false reports of Venus Protocol’s hack, resulting in an 11.5% drop of XVS price. Brad Harrison, Head of Venus Labs, took to X on Dec. 10, 2023, to explain that reports of Venus Protocol‘s exploit are inaccurate as Binance Oracle, a decentralized app that helps smart contracts access data outside a blockchain, reported a wrong price “resulting in about $200,000 of borrows.” Some facts: Binance Oracle, which supports the asset of snBNB in the *isolated* pool reported a wrong price resulting in about $200k of borrows. This is the only reported issue. This user is associated with a Binance account. There's no issue with the core pool or otherwise. — Brad 🫀/acc (@bradherenow) December 10, 2023 Harrison noted that “no other pools were affected,” adding the Venus team will “look ahead to enhance the security on isolated pools by adding support for price resilience.” The state...