⚠️Scammers Take Control Of Balancer's Front-End
Hackers breached Balancer's front-end in a domain name server attack. Balancer said it is still addressing the issue and urges users not to interact with its protocol via the balancer.fi interface.
Ethereum's devs have postponed the launch of the new Holesky testnet after its deployment failed on Sept. 15. The test network is now expected go live some time in the next eight days.
Circle launched USDC on Polkadot in the stablecoin's third native deployment this month. Polkadot said native USDC will bolster liquidity and facilitate greater institutional adoption across its ecosystem.
Plus, the SEC's renewed efforts to compel Binance to produce internal documentation in their ongoing legal battle put a dampener on the markets.
✍️ In today’s newsletter:
- Balancer suffers DNS attack
- Ethereum's new testnet delayed
- Native USDC live on Polkadot
- SEC filing against Binance dampens markets
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|↳ INFRA||0.72pts||↗ 1.43%|
|↳ CONSUMER||0.82pts||↗ 1.31%|
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Hackers Compromise Balancer Website In Ongoing Exploit
TLDR Balancer suffered a Domain Name Server attack, with hackers taking control of its main balancer.fi front-end. Balancer is still addressing the situation and urged users not to use the balancer.fi user-interface until further notice.
SO WHAT The incident serves as a reminder that crypto users should monitor official channels for news and updates regarding the web3 protocols they use. With the hackers redirecting the balancer.fi front-end to servers under their control, Balancer users heading straight to the interface could have easily been unaware of the risks and fallen victim to the attack.
Ethereum’s New Holesky Testnet Delayed After Launch Failure
TLDR Ethereum's devs pushed back the launch of its forthcoming Holesky testnet after client configuration errors produced a botched deployment on Sept. 15. The network is now expected to launch sometime between Sept. 22 and Sept. 28.
SO WHAT Holesky will replace Goerli, Ethereum's longest-running testnet, when it depreciates next year. Goerli has suffered from a sharp shortage of testnet Ether in recent years, prompting devs to earmark 1.6B Holesky ETH for the new network.
Chronicle is the 2nd largest Oracle provider by Total Value Secured, and although the protocol has been securing MakerDAO exclusively since 2017, it has only just opened up access to all of DeFi and beyond.
Chronicle Protocol launched in September, initially supporting Ethereum & Polygon zkEVM, and delivers a number of unique improvements on existing Oracles.
Scalable & Cost Efficient
The key innovation is a next-generation Oracle cryptographic primitive called Scribe. Scribe reduces Oracle gas fees by over 60% on L1 and 68% on L2 via a clever utilization of Schnorr signatures. This is a development entirely unique to Chronicle, making it the most gas-efficient on the market right now.
Oracles are currently one of the largest cost centers for blockchains and DeFi protocols. This significant reduction in operation costs paves the way for the first scalable Oracles that deliver real-time and precise data without security trade-offs.
At the core of Chronicle is verifiability. This rests on the premise that all data should be verifiable, and verification eliminates the need for trust. As a result, the protocol showcases an on-chain dashboard called The Chronicle that allows anyone to intuitively and provably track the origin of every element of data, end-to-end: creating a high integrity censorship-resistant layer for data transmission.
This is key to increasing the overall decentralization and security of the protocol and raises the bar for on-chain data transparency. No more data ‘black boxes’ in DeFi.
Chronicle is powering billions with cost-efficient & verifiable data. Discover more.
Native USDC Rolls Out Across Polkadot Ecosystem
TLDR USDC is now natively available across the Polkadot ecosystem, allowing parachain teams to integrate the stablecoin. Top parachain teams Centrifuge, HydraDX, and Interlay already offer DeFi yields for USDC.
SO WHAT Polkadot is third new chain USDC has launched on since the start of September, following deployments on top Ethereum L2s Base and Optimism. Circle also plans to launch USDC on Arbitrum, Near, and Cosmos in the near-future.
Market Rally Stalls Following Latest SEC Filing Against Binance
TLDR Digital assets suffered a slight retracement in response to fresh filings in the the SEC's lawsuit against Binance. According to CoinGecko, just nine of the top 100 cryptocurrencies by market cap rallied more than 1% in the past 24 hours, compared to 44 tokens with losses of at least 1%.
SO WHAT The SEC is seeking to compel Binance into providing documents detailing internal transactions to the courts. The SEC accuses Binance of illegally offering unlicensed securities to U.S.-based users, with the lawsuit coming amid a broader campaign against crypto from the regulator.