Crypto

Latest crypto News: Losses From Crypto Rug Pulls Outpaces DeFi Exploits, Evertas Expands Crypto Insurance Offerings

Here are some of the major developments from the world of crypto over the past few days.

Latest crypto News: Losses From Crypto Rug Pulls Outpaces DeFi Exploits, Evertas Expands Crypto Insurance Offerings
info_icon

The top 100 decentralised finance (DeFi) tokens had a bullish last week of May, with most of the tokens recovering from two weeks of bearish pressure.

Exit scams cost the DeFi community roughly $45 million in May 2023, whereas vulnerabilities of the DeFi protocols netted less than half that amount during the same period.

Due to tax considerations, Uniswap DAO also rejected a proposal to charge liquidity providers the same fees as Uniswap token holders. The plan would have given the governing body of Uniswap access to a portion of the fees currently paid by users to liquidity providers.

Incidentally, Jimbos Protocol has also announced an $800,000 bounty to the general public as negotiations with the hacker came to a halt. The protocol’s team made the bounty offer public and invited anybody to take advantage of it if they could assist in finding the exploiter or recovering the money. The Fantom network has begun paying programmers to produce gas.

Evertas Expands Crypto Insurance Offerings  

Crypto insurance underwriter Evertas will increase coverage limits to $420 million per policy while adding additional mining coverage.

Evertas specialises in insuring digital assets, and recently stated that its coverage portfolio now includes mining activities and that the coverage limits have been increased. The per-policy coverage limits for custodial crypto assets will rise to $420 million from the current level, “nearly tripling the amount of risk transfer previously available to Blockchain-focused projects,” according to a release.

Additionally, it will now provide up to $200 million in coverage per policy for mining enterprises. These are the highest coverage limits that are currently offered, claims Evertas.

Aleo Blockchain Gets New Wallet As Mainnet Launch Approaches Demox Labs has debuted a new wallet for the privacy-oriented Aleo Blockchain network. The wallet developer has also raised $4.5 million from Hack VC and other firms to further advance ZK-based enterprise solutions, according to an announcement made on June 1, 2023.

Called “Leo,” the wallet allows users to generate zero-knowledge (ZK) proofs within their browsers, by letting them interact with Aleo’s ZK-based apps. Aleo is in its testnet phase, but expects to launch a mainnet later this year.

Over 40,000 users signed up for the Leo wallet waitlist in the period leading up to its debut.

Important: We are happy to announce that we have successfully completed the migration of our site @outlookindia.com to enhance your experience as valuable user. But due to the scale of operations some data discrepancies may arise. We apologize for any inconvenience and thank you for your patience and understanding during this period.
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement