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DeFinitely 94 - The News in DeFi

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80m ETH lost and found in a Wormhole?

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DeFi Top Stories

  • YFD Products Announcement YFD Products AnnouncementY-Foundry DAO (“YFD”), a decentralized platform providing for the permission-less proposal, execution and monetization of vault strategies, aims to bring long-term sustainability to blockchain ecosystems through a user-created federation of vaults benefiting participants through their collective action. Solution: YFD will champion strategies which:Add value and drive revenues to the underlying protocols incorporated into YFD vault strategies; and Generate yields that can be sustained in perpetuity. By implementing a community-focused approach to the creation of innovative strategies, YFD seeks to be the people’s champ. You should not rely on the Medium Account as a basis for making any financial or other decision. The Medium Account and the matters described in the Medium Account have not been reviewed, approved, endorsed or registered with any regulator or other governmental entity, and the authors of the Medium Account are not licensed by any regulator or other authority to provide any legal, financial, accounting, investment or other advice or services.
  • WORMHOLE - REKT In the second bridge exploit in less than a week, Solana's Wormhole goes straight to 2nd place on our leaderboard. The exploit was later addressed directly, with a bold promise to restore the funds:The wormhole network was exploited for 120k wETH. Credit: @samczsun, @gf_256, @ret2jazzy, @kelvinfichterAttacker address: 0x629e7da20197a5429d30da36e77d06cdf796b71aThe Wormhole, Solana’s bridge, was manipulated into crediting 120k ETH as having been deposited on Ethereum, allowing for the hacker to mint the equivalent in wrapped whETH (Wormhole ETH) on Solana. An on-chain message was sent to the hacker from Certus One, the team behind the Wormhole bridge:This is the Wormhole Deployer: We noticed you were able to exploit the Solana VAA verification and mint tokens. As Wormhole have yet to receive any response to their offer, it seems the attacker has chosen the criminal route…We spoke to the founders of Wormhole, and asked how they managed to replace so much ETH so quickly.
  • GameStop Partners with Immutable X for its Upcoming NFT Platform GameStop and Immutable just announced their partnership to power the famous game retailer’s upcoming NFT platform. Yesterday’s announcement of their partnership with the Ethereum’s L2 for NFTs, Immutable X finally confirmed their plans. This is a clear push to drive mass adoption to the NFT gaming world. We already saw that right after the announcement, the price of the Immutable X token — $IMX — shoot up before quickly correcting. In short, the goal of Immutable X is to give player true ownership of their in-game items without prohibitive gas fees while capitalising on Ethereum’s strengths.

https://twitter.com/NoahCitron/status/1487605582584418305

https://twitter.com/NFTethics/status/1487818777869828096

https://twitter.com/kelvinfichter/status/1489041221947375616

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