NFT News by Thebittimes.Com

The initial impact amounted to 20 Ether, worth $31,000, while the validator involved has now been taken offline. Ethereum staking protocol Lido Finance has disclosed its protocol saw 20 slashing events due to a series of infrastructure and signer configuration issues from validators operated by Launchnodes. The incident occurred on Oct. 11 at about 3:30 pm UTC, according to Launchnodes. In an Oct. 11 post on X, Lido said the Launchnodes' validators nodes are now offline, and slashings have ceased while the root cause was being investigated. The slashing took place on the Ethereum blockchain and Lido projected the impact to be around 20 Ether (ETH), worth $31,000, as well as additional penalties while the validator s are offline for troubleshooting, along with inactivity penalties that the validator s will accumulate. 20 slashings have occurred relating to validators operated by the @launchnodes node operators as a part of the Lido protocol. Launchnodes and DAO contributors are in...

DeFi exploits resulted in losses of over $16 million in August. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. In this week’s newsletter, Ethereum staking services have agreed upon a 22% limit on all validators to ensure fair markets. August proved to be another costly month for DeFi as several protocols were collectively exploited for $16 million. In separate exploit news, Balancer protocol lost nearly $900,000 due to a vulnerability flagged months ago. Shibarium’s second launch proved more stable as the layer-2 protocol already has over 100,000 new wallets, and USD Coin (USDC) is set to debut on Coinbase’s layer-2 platform later this week. The DeFi market had another late-week bearish decline due to an overall market fall after news dropped of a delay in the decision on approval of a spot Bitcoin’s spot exchange-traded fund (ETF). Most DeFi tok...