The creators of Bored Ape Yacht Club NFT are apparently looking for an investment deal with companies like Andreessen Horowitz as we are reading further in our latest crypto news. The creators of Bored Ape NFTs Yuga Labs, are negotiating with Andreessen Horowtiz whcih could be of value for the startup and lead it to […]

NFTs are currently a symbol of status, but what happens when that desire fades?

Yuga Labs, the startup behind the Bored Ape Yacht Club NFT collection, is in financing talks with investment firm Andreessen Horowitz.

Wormhole, a popular cross-chain bridge between Solana and other DeFi-based blockchain networks has been hacked for about 120,000 wETH (wrapped Ether) worth $320 million, making it the second-largest DeFi hack to date. On Wednesday, the team behind the project officially confirmed that the bridge is currently down while the team investigates a potential exploit. In a follow-up tweet, Wormhole confirmed that the vulnerability was patched and were working to get the network up and running again. The vulnerability has been patched. We are working to get the network back up as soon as possible. — Wormhole🌪 (@wormholecrypto) February 3, 2022 The attack approximately took place at 6:24pm UTC on Feb. 2 where the hacker minted 120,000 wETH (WETH) on Solana, then redeemed 93,750 WETH for ETH worth $254 million onto the Ethereum network at 6:28 pm UTC. Since then, the hacker has used some funds to buy SportX (SX), Meta Capital (MCAP), Finally Usable Crypto Karma (FUCK), and Bored Ape Yacht Club Token (APE). The remaining WETH was swapped for SOL and USDC on Solana. Currently, the attacker’s Solana wallet holds 432,662 SOL worth $44 million. Wormhole Offers $10M Bug Bounty to Hackers Wormhole is a DeFi protocol that allows users to bridge assets across Terra, Solana, Ethereum, Binance Smart Chain, Avalanche and Polygon without the use of a centralized exchange (CEX). When a user transfers assets from one blockchain to another, the DeFi platform locks the transaction and mints a wrapped version of the token to its final chain. About an hour after the exploit, Wormhole offered the hacker a $10 million bug bounty in an on-chain message in return for the funds: “We noticed you were able to exploit the Solana VAA verification and mint tokens. We’d like to offer you a whitehat agreement, and present you a bug bounty of $10 million for exploit details, and returning the wETH you’ve minted.” This is the second smart contract exploit after hackers made off with $80 million from decentralized finance protocol Qubit Finance last week.

The post Wormhole Loses $320M in Second-Largest DeFi Hack Ever appeared first on Cryptoknowmics-Crypto News and Media Platform.

Crypto ads will likely invade the Super Bowl this year because a lot of crypto companies want to be exposed to the mainstream so let’s find out more in our latest cryptocurrency news. The Cincinnati Bengals will face the Los Angeles Rams in LA and the broadcast will feature more crypto ads than ever. FTX […]

OpenSea records $5B in monthly sales thanks to the Ethereum NFT market expanding further as we can see more in our latest Ethereum news. The wider NFT market is expanding and OpenSea records $5B in monthly sales as Bored Apes rides the celebrity buzz. Opensea also had a record-breaking January moment with more than $5 […]

Key Takeaways NFT avatar projects such as Bored Ape Yacht Club and Azuki are soaring in value. The renewed interest in NFTs could be due...

Key Takeaways OpenSea has become the home of NFT trading, but its various problems are leading users to seek out alternatives. LooksRare caused a...

As most of us were enjoying some R&R over Christmas break, Coinbase Cloud protocol specialist Elias Simos was scouring the web for the...

January 31, 2022       /       Unchained Daily       /       Laura Shin Daily Bits ✍️✍️✍️ A US law that would enforce KYC rules on unhosted[...]

The post Everyone, Including Bieber, Is Buying NFTs appeared first on Unchained Podcast.

To say the past year has been monumental for the NFT ecosystem would be an understatement. We witnessed the birth of the NFT bull-run with the demand for profile-pic (PFP) collections like the Crypto Punks and Bored Ape Yacht Club (BAYC) hitting record-breaking sales every other week. We also saw widespread adoption with artists, music […]

The post Immutable X: The Future of NFTs and Play-to-earn Gaming? appeared first on Coin Bureau.

The Canadian singer Justin Bieber has purchased a Bored Ape Yacht Club (BAYC) non-fungible token (NFT) for 500 ethereum or $1.29 million at the time of settlement. Bieber has a significant collection of NFTs and his wallet holds 340.43 ether worth $879K. Justin Bieber Spends $1.29 Million in Ethereum for BAYC #3001 Justin Bieber spent […]