Here are the latest updates from the crypto world
Polter Finance, a decentralized platform for lending and borrowing without custodians, halted its operations and contacted law enforcement after a hack stole $12 million from its total value locked (TVL). On November 17, Polter Finance suspended its platform upon discovering an exploit and informed investors on X.
The protocol investigated the theft and tracked the funds to wallets on the crypto exchange Binance. According to Web3 security firm TenArmor, the Polter Finance protocol lost $12 million due to a faulty oracle price-related flash loan attack on its newly launched SpookySwap (BOO) market.
Polter has not yet confirmed the specifics of the attack. Meanwhile, Polter Finance reached out to the hacker via an onchain message, offering room for negotiation and immunity.
Officials in Paju, a city in South Korea's Gyeonggi Province, have revealed plans to confiscate and auction off the cryptocurrency holdings of residents who have outstanding taxes.
According to a report by local media outlet Yonhap News on November 18, Paju city authorities have issued notices to 17 individuals who owe a total of 124 million Korean won, approximately $88,600.
The city has cautioned these taxpayers that their cryptocurrency assets on exchanges will be seized and sold if the debts are not paid by the end of November.
With its emphasis on usefulness and a vibrant community, NPCS, a memecoin based on the Wojak character, seeks to reshape memecoin culture.
In terms of search interest, memecoins have lately surpassed Bitcoin (BTC) in popularity.
With a combined market value of $126 billion as of this writing, memecoins are fueled by comedy, online culture, and the excitement of quick profits.
But there are drawbacks to the popularity boom, particularly with regard to trust.
Projects under $1,000 dominate the market, with just a few surpassing the $10 million threshold. As a result, investors start to doubt memecoin ventures' dependability.