Crypto exchange Binance’s blockchain network BNB Chain will “openly share” the details of the postmortem as well as lessons on how to implement more advanced security measures to shore-up vulnerabilities, following its 2 mil BNB coins exploit worth US$560 million ($800 million).
On Oct 7, the company discovered an exploit which affected the native cross-chain bridge (tools used to transfer cryptos between different applications) between the BNB Beacon Chain and BNB Smart Chain. However, it said the majority of the funds remain under control.
Chart: BNB coin 7-day price performance
Plan ₿ Foundation, a joint initiative between the city of Lugano, Switzerland as well as the company behind USDT stablecoin Tether has collaborated with point-of-sale solution provider GoCrypto to bring Bitcoin, Tether and LVGA token payments to the city.
Merchants that accept the GoCrypto payments include McDonalds and art galleries. By end 2023, the Plan ₿ Foundation aims to enable more than 2,500 merchants to accept the cryptocurrency payments.
See also: Digital Assets Association launches to connect tradfi and tokenised real world assets
Photo: Tether
Decentralised finance (DeFi) company Cake DeFi has added Ethereum Staking service with 5% returns via Singapore-based nodes which allows unstaking anytime, the company announced on Oct 6.
Its co-founder and CEO Dr Julian Hosp said the company made a deliberate decision to host its own nodes in Singapore, when it is mainly concentrated in North America and Europe. “Hosting our own Singapore-based nodes will boost the confidence of investors and developers in the region and support the spirit of decentralisation,” he added.
