Latest Crypto News: KyberSwap Urges Users To Take Out Cash After Threat; Pew Research Launches Crypto Survey

The creator of decentralised cryptocurrency exchange KyberSwap Elastic has flagged a potential vulnerability in its smart contracts, although no funds are lost yet. Kyber is a multi-chain platform that offers best rates for crypto trading.

Following the disclosure of the potential risk in the contracts on April 17, it has urged liquidity providers to withdraw their cash as feasible.

As a prevent measure, the liquidity providers (LPs) were told withdraw cash, it said, adding that the KyberSwap Elastic funds were particularly at risk. However, the weakness was not found in KyberSswap Classic smart contracts.

Pew Research Survey

The Pew Research Centre has urged Americans to participate in their latest crypto survey. An earlier study conducted by Pew Research showed that most people find cryptocurrencies unreliable. Some 75-88 per cent of the participants said cryptos are unreliable and just six per cent said they were confident. It noted that cryptocurrencies are not widely trusted.

Hong Kong Banks Explore e-HKD Design

Hong Kong banks are trying to develop a permissioned blockchain, it has been reported. Hong Kong is intensifying efforts to create its own digital currency this year, but the regulator has left it up to the banks to decide whether the ledger is totally centralised or decentralised. The government has so far not mandated the design of the central bank digital currency (CBDC),

At least, one significant bank is reportedly considering creating an e-HKD on a permissioned blockchain, CoinDesk quoted a bank official as saying.

The central government has not mandated the design of Hong Kong’s central bank digital currency (CBDC), unlike the People Bank of China’s e-CNY, a Hong Kong bank official said requesting anonymity.