Web3 investment fund ABCDE pauses new investments and fundraising, with $400 million in assets under management

The $400 million Web3 investment fund, ABCDE, has decided to pause its investments and fundraising activities, according to reports. The firm, known for its strategic investments in various Web3 projects, cited market conditions and internal restructuring as reasons for this decision. Web3, a term used to describe the next generation of the internet focusing on [...]

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Aventus blockchain pauses planned token split: AVT token drops 4% | Invezz

Aventus (AVT/USD) has declined by about 4% after Aventus blockchain announced shelving an earlier decision to split its native token AVT. The main reason behind the price drop is reportedly a spike in volatility on minimal liquidity after the decision to pause the split. The move disappointed the Aventus community after the proposal was passed ...

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Compound pauses use of four tokens as collateral

Compound (COMP/USD), an Ethereum-based decentralised lending protocols that’s among the top markets in the crypto industry, has adopted a proposal suspending the use of four digital assets as lending collateral.

The move follows a governance vote that passed Proposal-131 by 99.99%, with the development seeing the protocol pause the use of 0x (ZRX), Maker (MKR), Basic Attention Token (BAT) and Yearn Finance (YFI). These tokens are deemed to have very low liquidity, potential profiles that malicious actors can exploit.

According to Compound, the move to pause the use of these assets as hard collateral takes effect in two days, with the initial announcement made on Monday.

The result is that borrowers will not access loans with ZRX, MKR, BAT and YFI as collateral.

Explaining the motivation behind Proposal-131, the Compound team referred to it as “out of abundance of caution.”

“An oracle manipulation-based attack analogous to the one that cost Mango Markets $117m is much less likely to occur on Compound due to collateral assets having much deeper liquidity than MNGO and Compound requiring loans to be over-collateralized. However, out of an abundance of caution, we propose pausing supply for the above assets, given their relative liquidity profiles.”

Compound’s move is thus aimed at protecting its users from potential attacks staged via market manipulation of these low liquidity tokens.

Solana-based lending marketplace Mango Markets suffered a $117 million exploit that took advantage of the low liquidity profile of the protocol’s native token to manipulate prices.

The Compound protocol went live in September 2018, pioneering user-to-protocol collateralised borrowing, a innovation that helped to power the first wave of growth across decentralised finance (DeFi).

Data from tracking platform DeFiLlama shows Compound Finance is the ninth largest DeFi protocol, with $2.28 billion in total value locked (TVL).

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Major Blow to Investors as Celsius Halts Withdrawals, Swaps and Transfers

In May, the crypto-staking network allegedly had $12 billion in client assets. The token was trading at a low of

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Crypto exchange GDAC pauses deposits and withdrawals after hack

South Korean cryptocurrency GDAC was on Sunday hacked and cryptocurrencies worth more than $13 million were stolen. The hackers made away with nearly 10 million WEMIX, 220,000 USDT, 350.5 ETH, and 61 BTC. The exchange hack is the latest in the string of crypto hacks that have affected the crypto space in the recent past. …

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