Wednesday, May 31, 2023

Ethereum News

Lazarus Group’s Sneaky Tactics: Attempts to Steal from Euler Finance Hackers

On March 15th, 2023, Euler Finance, a decentralised finance (DeFi) protocol built on the Ethereum network, suffered a flash loan attack resulting in the loss of $199 million worth of digital assets. However, on March 21st, 2023, new developments emerged as North Korea's Lazarus Group, the same group responsible for the $540 million Ronin Bridge attack last year, attempted to steal from the Euler Finance hacker responsible for the recent attack.

Unofficial Trading of Arbitrum Coin Surfaces on OTC Market Before Airdrop Event

The Arbitrum token has surfaced on the over-the-counter (OTC) market ahead of its scheduled airdrop. Opportunistic traders are already taking advantage of the token's premature arrival by conducting transactions on OTC platforms.


Eth 2.0

On September 6th, Ethereum will begin its long-awaited transition to proof-of-stake

The Ethereum Foundation has announced that the Merge will begin on September 6th. First, the Bellatrix upgrade will be activated on September 6th, which will kick-start the rest of the Merge process, which is expected to be completed by September 20th. A major liquidation could be on the horizon for the NFT market. Thousands of holders of NFTs are taking out ETH loans using BendDAO's web3 lending protocol. A BAYC whale (Bored Ape Yacht Club) borrowed over 10,000 ETH from the platform, escalating liquidation fears.

3AC’s Uncertainty Leads Finblox to Impose Withdrawal Limit While BlockFi Liquidates ‘Large Client’

Amid the Three Arrows Capital's (3AC's) crisis, Finblox announced Thursday it would impose a $1,500 monthly withdrawal limit and pause reward distribution. It comes after a report on Wednesday that 3AC could be insolvent following liquidations worth $400 million.

Is the Staked Ether (stETH) depegging a cause for concern?

With holders selling their now depegged stETH and the date of the ETH 2.0 Merge mired in uncertainty, there is now heavy selling pressure on stETH.