Warwick added on Discord that the team has “a backstop multisig that is able to mint in extreme circumstances.” The team used this multi-signature wallet, an address with specific in-protocol permissions that needs a majority of a group of signers to execute transactions, to mint tokens and sell them for ETH, rendering sILV worthless, as there is no ETH to swap the sILV … [Read more...] about Illuvium Team Drains sILV Uniswap Pool in Bid to Prevent Exploit Cash-Out
Pool
Bent Finance confirms pool exploit, advises investors to withdraw funds
Staking and farming platform Bent Finance joins the list to become the sixth crypto establishment to get hacked in December. The acknowledgment of the attack was followed by requesting investors to withdraw their pool funds and disabling the reward claims on the compromised platform. Bent Finance first realized the exploit on Monday at roughly 8:55 PM EST, a timeline when the … [Read more...] about Bent Finance confirms pool exploit, advises investors to withdraw funds
Foundry USA becomes second-largest Bitcoin mining pool amid China ban
New York-based crypto-mining service provider Foundry USA takes the lead to become the world’s second-largest Bitcoin (BTC) mining pool after taking up a 15.42% share of the network.Data from BTC.com shows that Digital Currency Group-owned Foundry USA stands behind the pool leader AntPool by a hash rate of just 4,000 PH/s, which contributed to a 17.76% network share at the time … [Read more...] about Foundry USA becomes second-largest Bitcoin mining pool amid China ban
BIT Mining’s Q4 Revenue to Fall Due to Its Mining Pool Exiting China
Hong Kong-based cryptocurrency miner BIT Mining (BTCM) said fourth-quarter revenue will fall 10% to 20%, as its mining pool business, BTC.COM, completely exited the Chinese market.“The company is working on solutions with its existing users in China, such as migrating such users’ mining machines to overseas markets, so that they may have access to our services in a compliant … [Read more...] about BIT Mining’s Q4 Revenue to Fall Due to Its Mining Pool Exiting China
Rocket Pool Eth2 staking service launches, hits stage two cap in 45 seconds
The launch of ETH2 staking service Rocket Pool saw it hit its stage two cap in just 45 seconds according to the co-founder of hosting partner Allnodes Konstantin Boyko-Romanovsky.In its first two days of operations, Rocket Pool has registered 237 node operators across 42 global locations, with 1088 ETH staked. According to an announcement the platform now has Total Value Locked … [Read more...] about Rocket Pool Eth2 staking service launches, hits stage two cap in 45 seconds