Terra users have lost funds due to a breach on the new DeFi platform, Terraport Finance, which was launched on March 31, 2023.
The Terra Classic Blockchain-based decentralised finance (DeFi) exchange project Terraport Finance experienced a breach on its liquidity wallet on April 10, 2023. When announcing the news on Twitter, Terraport claimed that the hacker had destroyed all liquidity pools on the site, resulting in the loss of digital assets valued at around $2 million.
“We are presently collaborating with members of the community and significant exchanges to protect as many of these cash and ban wallets as we can. All money has been monitored,” Terraport said.
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Social media sources claim that the Terraport hacker sent the stolen money to the exchanges, Binance and MEXC Global. The security teams at the exchange have been urged to immediately freeze the assets by the investigators.
Bitcoin Breaks Above $30K for First Time Since June 2022
Bitcoin, the biggest cryptocurrency by market capitalisation was recently up 6.75 per cent over the previous 24 hours, trading at $30,237. The move continues a 2023 rally that has now seen the most popular crypto gain more than 80 per cent.
As the banking turmoil of March 2023 receded farther into the past and investors felt more confident in the monetary policy of the US Federal Reserve, Bitcoin (BTC) crossed the $30,000 mark for the first time since June 10, 2022.
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“It’s clear that the market is pricing a slowdown in growth, and in turn a loosening of monetary policy by the Federal Reserve over the course of 2023. For evidence of this, just look at the bond market,” said Richard Mico, the US CEO and chief legal officer of Banxa, a payment-and-compliance infrastructure provider for crypto.
Symbiosis Integrates zkSync: ‘Natural Evolution’ Of Scaling Solutions
Cross-chain DeFi platform Symbiosis has integrated zkSync to improve transaction speed and reduce fees on its automated market-making protocol.
Maker of automated cross-chain markers ZkSync, a layer-2 scaling protocol, has been adopted by Symbiosis to accelerate token swaps and lower transaction costs on their platform.
In March 2022, the decentralised exchange (DEX) went live. It offers single-sided Stablecoin pools that cause liquid providers to suffer zero temporary loss.
On its platform, it also enables “any-to-any” native asset exchanges between networks with and without the Ethereum Virtual Machine (EVM).
The integration of zkSync would enable one-click swaps between Ethereum, Polygon, Avalanche, BNB Chain, Telos, and other Blockchains to zkSync and back, according to Nick Avramov, co-founder of Symbiosis, who spoke with Cointelegraph.
The added features also eliminate the need for customers to switch between various wallets and user interfaces. Avramov added that by providing any-to-any native swaps to and from zkSync, the integration broadens the selection of token swaps available through its DEX.
