Arbitrum

DeltaPrime allegedly suffers second attack, losing over $4.7m

Published

3 days ago

November 11, 2024

Crypto broker DeltaPrime has seemingly fallen victim to a $4.7 million hacker attack, for the second time since September.

DeltaPrime, a decentralized crypto protocol backed by Avalanche and GSR Markets, has allegedly lost $4.75 million worth of tokens as multiple pools on Arbitrum were drained, blockchain analysts warn.

On Monday, Nov. 11, reports emerged that the platform appears to have been exploited due to a vulnerability in the periphery adaptor contract. Analysts from blockchain analytics firm CertiK noted that the stolen funds are being held at 0x56…634c. Following the attack, DeltaPrime confirmed the incident, saying the hackers exploited pools on Avalanche and Arbitrum, stealing a total of $4.75 million worth of crypto.

DeltaPrime was just exploited on Avalanche and Arbitrum for a total of (initial estimate) $4.75mm.
With the protocol being paused on both chains, the risk is contained. We will provide updates asap.
— DeltaPrime (@DeltaPrimeDefi) November 11, 2024

This is the second time the protocol has been targeted by hackers, with the previous incident in September resulting in a $6 million loss. At the time, the attackers exploited weak private key security to take control of and drain the project’s vulnerable contract.

Blockchain sleuth ZachXBT previously pointed out that DeltaPrime had earlier employed North Korean IT workers. However, the analyst emphasized that all flagged personnel had been removed, leaving questions about any connection between the hack and North Korea unresolved.

First launched on the Avalanche network in January 2023, DeltaPrime attracted over $63 million in total value locked and unlocked more than $20 million in liquidity, the protocol says on its official website. The protocol secured funding from Avalanche, GSR Capital, Moonhill Capital, and Uplift, among others.

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Arbitrum

Uniswap Processes Over $2 Trillion On Ethereum: UNI Bull Run Inevitable?

Published

3 weeks ago

October 23, 2024

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Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn’t just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn’t a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa’s full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.

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