Senate Banking Committee to Host Hearing on Stablecoins Regulation

Amid growing scrutiny on stablecoins, regulators have become determined to carve out guidelines distinguishing stablecoins legislation from that of other cryptos. In the latest update, the US Senate Banking Committee has declared the timeline for upcoming hearing on Stablecoins regulation, dated December 14, 2021, i.e., coming Tuesday. The hearing is titled – “Stablecoins: How do they work, how…

Defi Hack: BXH Protocol Becomes Latest Defi Victim on BSC, Loses $130 Million

The list of Defi protocols getting hacked continues to grow especially on Binance Smart Chain (BSC) as another decentralized transaction protocol BXH informed earlier today about the hack. The official twitter hadle of the protocol revealed that the attack was limited to BSC and assets on Ethereum, OEC and HECO were safe. We are sorry to announce that BXH was attacked on #BinanceChain. Other…

BSC Based ValueDefi Exploited For $11M by Scammers

ValueDefi, a Binance Smart Chain based Defi protocol has become the latest protocol on BSC to face exploit as scammers managed to exploit its automated market maker (AMM) known as vSwap to steal $11 million worth of crypto assets from non 50/50 pools. This is the second exploit on the ValueDefi within a week as another $6 million were lost due to contract reinitialization. 1/8 Another weekend…