Chainlink quietly changes multisig rules, Mixin offers $20M bounty: Finance Redefined

Invite to Finance Redefined, your weekly dosage of essential decentralized financing (DeFi) insights– a newsletter crafted to bring you the most substantial advancements from the past week.The past week in DeFi was controlled by developments in some of the OG DeFi procedures, with Uniswap Foundation announcing plans to raise $62 million in new funding and decentralized oracle service provider Chainlink brushing aside worries about modifications it made to multisignature wallets.Mixin Network, which was hacked for nearly $200 million in crypto possessions on Sept. 23, has now provided a $20 million bug bounty to exploiters for the return of the staying funds, claiming a majority piece of the taken funds are user assets.Curve Finance founder Michael Egorov cut back his debts to $42 million and settled his whole Aave loan on Sept. 28. According to the on-chain analytics platform Lookonchain, the Curve founder deposited 68 million CRV tokens, worth $35.5 million, to lending protocol Silo and obtained 10.77 million in crvUSD stablecoin in the last 2 days. Continue readingMixin Network offers $20 million bug bounty to hackers in $200 million hackMixin Network, a decentralized cross-chain protocol, in a message to the hacker behind the $200 million exploit on Sept. 23, has actually offered a $20 million bug bounty for the return of the remaining funds.Mixin Network encrypted the message with the exploiter deal, asking for the exploiter to return the funds as the majority of the stolen funds were user assets.Continue readingCrypto exchange Upbit stems phony APT token flood, resumes servicesSouth Korean cryptocurrency exchange Upbit has actually resumed Aptos APT (APT) deposits and withdrawals after fixing a problem that saw a scam APT token improperly recognized as legitimate.On Sept. 24, Upbit suddenly halted Aptos token services after keeping in mind an “abnormal deposit attempt,” triggering an evaluation of the wallet system.

Other Questions People Ask

What changes did Chainlink make to its multisig rules recently?

Chainlink has made modifications to its multisignature wallet rules, which has raised some concerns within the community. These changes are aimed at enhancing security and operational efficiency, but they have also led to discussions about transparency and governance. Stakeholders are encouraged to review the specifics of these changes to understand their implications on the protocol's security framework.

How is Mixin Network addressing the $200 million hack?

In response to the recent $200 million hack, Mixin Network has offered a $20 million bug bounty to the hacker for the return of the remaining funds. The network emphasizes that a significant portion of the stolen assets belongs to users, highlighting its commitment to protecting user interests. This approach aims to incentivize the hacker to return the funds while also addressing the broader security concerns within the decentralized finance ecosystem.

What impact did Curve Finance founder's actions have on the DeFi landscape?

Michael Egorov, the founder of Curve Finance, has significantly reduced his debts to $42 million by settling his entire Aave loan. His recent actions, including depositing 68 million CRV tokens into lending protocol Silo, have implications for liquidity and market stability in DeFi. This move reflects a strategic effort to manage debt and enhance financial health within the DeFi space, which could influence investor confidence.