Crypto influencers started a joke about wrapped Ethereum (WETH) losing its peg and becoming insolvent over the weekend, causing a brief panic within the community. The joke started on Nov. 26 when blockchain developer Cygaar tweeted that WETH was about to become insolvent and that they would bail out anyone at a rate of 0.5…
Losing $80 million worth of BNB tokens in a recent hack, Qubit Finance joined the unfortunate list of exploited DeFi protocols on Binance Smart Chain (BSC). The DeFi lending protocol reported the incident in a Twitter post, revealing that the malicious attacker exploited a vulnerability on the Qubit Bridge–a cross-chain bridge to Ethereum. What happened?…
First in a bigger series of dAppradar’s reports, which explore how value moves around after entering the blockchain industry, revealed that the amount of Bitcoin (BTC) sitting in centralized exchanges (CEX) is at its lowest point in 2021, while Wrapped Bitcoin (WBTC), the first ERC20 token backed 1:1 with Bitcoin, doubled since the start of…