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The Blast team responded to claims that its multisignature upgrade functionality makes it too centralized. Web3 protocol Blast network has gained over $400 million in total value locked (TVL) in the four days since it was launched, according to data from blockchain analytics platform DeBank. But in a Nov. 23 social media thread, Polygon Labs developer relations engineer Jarrod Watts claimed that the new network poses significant security risks due to centralization. The Blast team responded to the criticism from its own X (formerly Twitter) account, but without directly referring to Watts’ thread. In its own thread, Blast claimed that the network is as de centralized as other layer 2s, including Optimism, Arbitrum and Polygon. On multisig security. Read this thread to understand the security model of Blast along with other L2s like Arbitrum, Optimism, and Polygon. — Blast (@Blast_L2) November 24, 2023 Blast network claims to be “the only Ethereum L2 with native yield for E...

From accidental deletions to enigmatic heists, lost Bitcoin tales emphasize the paramount importance of stringent security measures in the crypto world. In the shadowy corners of the digital world, where the glow of computer screens illuminates faces with eerie light, there exist tales of lost fortunes. These tales act as a terrifying reminder of the unpredictable nature and volatility present in the cryptocurrency markets and the need to adopt stringent security measures.  1. James Howells and the lost 7,500 BTC A British man named James Howells unintentionally threw away a hard drive in 2013 that contained 7,500 Bitcoin (BTC), currently valued at over $258 million. The hard disk is still buried; he can’t figure out where it is, even after making several desperate attempts to retrieve it from the landfill in New Port, Wales. Howell’s story serves as a reminder that digital gold could be turned into digital dust. James Howells makes a fresh plea to excavate the landfill site where his...

The group of scammers have recently taken over accounts belonging to the founder of Pudgy Penguins, the CTO of OpenAI and even crypto hater Peter Schiff. Over the past few weeks, a group of scammers has hijacked more than eight Twitter accounts belonging to prominent figures in the crypto space to promote phishing scams. The group has stolen almost $1 million worth of crypto so far, according to blockchain sleuth ZachXBT. In a June 9 Twitter thread, ZachXBT outlined that he had uncovered several wallets “linked on chain” that are connected to phishing scams promoted by the recently hacked accounts . “While the majority of these attacks were the result of a SIM Swap it seems other accounts were potentially stolen with a [Twitter admin] panel,” ZachXBT noted. Over the past few weeks we have seen 8+ account takeovers connected to the same group of scammers as evident by how their addresses are linked on-chain. I hope @TwitterSafety investigates each attack closely as they have resulted...

Top 100 DeFi tokens continued their bullish momentum into third week of January with majority of the tokens trading in green on weekly charts. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. Following FTX’s demise, the DeFi space is up for a complete remodel as crypto users demand better security and compliance practices. SushiSwap’s roadmap for the coming year includes the development of a decentralized exchange (DEX) aggregator, a decentralized incubator and “several stealth projects.” All these projects combined can grow its market share 10x, said the CEO. The co-founder and CEO of Ava Labs spoke with Cointelegraph at the World Economic Forum in Davos, Switzerland, on the future of DeFi and traditional finance (TradFi) and said DeFi should complement TradFi, not attack it. Another DeFi report suggests that decentralized forex could reduce costs by as ...