DeFi

Algorand-centric wallet MyAlgo advised users to pull off their funds from any wallets created with a seed phrase, said the root cause of an exploit is still under investigation.

Avraham Eisenberg’s defense argued that their client shouldn’t pay back the $47 million he kept as a “bug bounty” after Mango DAO passed his proposal on October 20.

Matthew Lilley, the decentralized exchange’s chief technology officer, cited design flaws and lack of resources as the primary reasons to deprecate its two offerings.

Serum, the FTX-backed decentralized exchange built on Solana, took off to Twitter to announce that the protocol “became defunct” as builders abandon it in fears of its ties to SBF’s fallen empire.

The decision to temporarily pause lending markets for 17 tokens and stablecoins on Ethereum comes a week after the Mango Markets exploiter left protocol with $1.6 million in bad debt.

Changpeng “CZ” Zhao announced that Binance will launch a crypto relief fund for projects that are “otherwise strong, but in a liquidity crisis” and called upon other industry leaders to join the initiative.

DeFi startup Thala Labs closed a seed funding round co-led ParaFi Capital, White Star Capital, and Shima Capital to become the foundational pillar of the Aptos DeFi ecosystem.

A report by the Wall Street Journal asserts that the exchange hired at least four experienced traders to complete a $100 million transaction as a test of its proprietary trading business.

Crypto lending platform Voyager called Alameda’s purchase offer “a low-ball bid dressed up as a white knight rescue,” but said it would consider a more “serious” proposal.