Kyber Network slashes workforce, Web3 hacks cost $1.8B in 2023: Finance Redefined

CointelegraphPublicado a 2023-12-28Actualizado a 2024-01-01

Resumen

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.
Vitlalik Buterin believes Ethereum needs to reignite the “cypherpunk” revolution first envisioned for the blockchain in its early days.
The Web3 ecosystem lost $1.8 billion to exploits and scams in 2023, and the Kyber Network has slashed its workforce by half after its recent $49 million exploit.
Vitalik Buterin wants to “make Ethereum cypherpunk again”
Ethereum needs to reignite the cypherpunk revolution first envisioned for the blockchain in its early days, says Vitalik Buterin, one of the network’s founders.
According to a Dec. 28 blog post from Buterin, Ethereum was initially envisioned as a “public decentralized, shared hard drive” that could leverage peer-to-peer messaging and decentralized file storage. However, the vision began to fade in 2017 with the turn toward the financialization of Ethereum.
Continue reading
$1.8 billion was lost to Web3 hackers and fraudsters in 2023: Immunefi
A total of $1.8 billion was lost to Web3 hackers and scammers in 2023, according to a Dec. 28 report from blockchain security platform Immunefi. The report stated that 17% of the losses have been attributed to the North Korea-linked Lazarus Group.
The biggest hack of the year in terms of losses was peer-to-peer trading platform Mixin Network, which resulted in over $200 million of losses to crypto investors. In second place was the $197 million exploit of lending platform Euler Finance, and in third was the $126 million hack of the cross-chain bridge protocol Multichain.
Continue reading
Kyber Network axes workforce by 50% one month after $49 million exploit
The team behind decentralized finance protocol KyberSwap has “regrettably” cut its workforce by 50% to keep its business operations up and running following its $48.8 million exploit in November.
“Regrettably, we have also reduced our workforce by 50%,” said Kyber Network’s CEO Victor Tran on Dec. 24. “The decision to part ways with so many of our team members was heart-wrenching.”
Continue reading
Key industry figures predict the future of DeFi in 2024
Cointelegraph spoke with various experts from across the industry to discover what 2024 holds for decentralized finance.
The sector as a whole is currently buoyant. Optimism abounds as the green shoots of renewed growth begin to show. Julian Deschler, co-founder of Web3 privacy protocol Elusiv, is among the leaders bullish on DeFi’s prospects in the near term.
Continue reading
DeFi market overview
Data from Cointelegraph Markets Pro and TradingView shows that DeFi’s top 100 tokens by market capitalization had a bullish week, with most trading in the green on the weekly charts. The total value locked into DeFi protocols remained above $60 billion.

Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space

Lecturas Relacionadas

Fu Peng's First Public Speech in 2026: What Exactly Are Crypto Assets? Why Did I Join the Crypto Asset Industry?

Fu Peng, a renowned macroeconomist and now Chief Economist at New火 Group, delivered his first public speech of 2026 at the Hong Kong Web3 Festival. He explained his perspective on crypto assets and why he joined the industry, framing it within the context of macroeconomic trends and financial evolution. Fu emphasized that crypto assets are transitioning from an early, belief-driven phase to a mature, institutionally integrated asset class. He drew parallels to the 1970s-80s, when technological advances (like computing) revolutionized traditional finance, leading to the rise of FICC (Fixed Income, Currencies, and Commodities). Similarly, current advancements in AI, data, and blockchain are reshaping finance, with crypto assets becoming part of a new "FICC + C" (C for Crypto) framework. He noted that institutional capital, including traditional hedge funds, avoided early crypto due to its speculative nature but are now engaging as regulatory clarity emerges (e.g., stablecoin laws, CFTC classifying crypto as a commodity). Fu predicted that 2025-2026 marks a turning point where crypto becomes a standardized, financially viable asset for diversified portfolios, akin to commodities or derivatives in traditional finance. Fu defined Bitcoin not as "digital gold" in a simplistic sense but as a value-preserving, financially tradable asset. He highlighted that crypto's future lies in regulated, institutional adoption, moving away from retail-dominated trading. His entry into crypto signals this maturation, where traditional finance integrates crypto into mainstream asset management.

marsbitHace 22 min(s)

Fu Peng's First Public Speech in 2026: What Exactly Are Crypto Assets? Why Did I Join the Crypto Asset Industry?

marsbitHace 22 min(s)

Cardano Gets Filecoin-Backed Storage Upgrade

Cardano's ecosystem has integrated a significant storage upgrade through a collaboration between Blockfrost and Filecoin. This new premium storage tier offers Cardano builders a decentralized, verifiable backup solution without requiring any changes to their existing workflows. The integration, which was initially announced in late 2024, has now been productized, providing enhanced data resilience for applications on Cardano. Charles Hoskinson endorsed the move, welcoming Filecoin as "one of the OGs" to the ecosystem. The service leverages Filecoin's decentralized storage network to strengthen app reliability and underscores a commitment to decentralization by coordinating two major layer-1 blockchain ecosystems.

bitcoinistHace 30 min(s)

Cardano Gets Filecoin-Backed Storage Upgrade

bitcoinistHace 30 min(s)

Justin Sun Sues Trump Family: What $75 Million Bought Was Only a Blacklist

Justin Sun, founder of Tron, has filed a lawsuit in federal court against World Liberty Financial (WLF), alleging he was made the "primary target of a fraudulent scheme" after investing $75 million. Sun claims the investment secured him an advisor title and WLFI tokens, which were later frozen by WLF, causing "hundreds of millions in losses." The dispute began in late 2024 when Sun's investment helped revive WLF's struggling token sale, which ultimately raised $550 million. Shortly after, the SEC dropped its lawsuit against Sun following Donald Trump's inauguration. However, relations soured when Sun refused WLF's demands for additional funding. In August 2025, WLF added a "blacklist" function to its smart contract, allowing it to unilaterally freeze tokens. Sun's holdings, worth approximately $107 million, were frozen, and he was threatened with token destruction. The lawsuit highlights WLF's structure, which directs 75% of token sale profits to the Trump family, who had earned $1 billion by December 2025. WLF's CEO is Zach Witkoff, son of U.S. Middle East envoy Steve Witkoff. The project faces scrutiny for opaque operations, including a controversial loan arrangement on the Dolomite platform, co-founded by a WLF advisor. Despite Sun's history with the SEC, the case underscores centralization risks within DeFi, as WLF controls governance and holds powers to freeze assets arbitrarily. Sun's tokens remain frozen as legal proceedings begin.

marsbitHace 30 min(s)

Justin Sun Sues Trump Family: What $75 Million Bought Was Only a Blacklist

marsbitHace 30 min(s)

$500 to Buy OpenAI Stock: Silicon Valley's Most Respectable Liquidity Invitation

Silicon Valley's largest venture capital platform, AngelList, has launched a new fund called USVC, allowing U.S. retail investors to buy into high-profile AI companies like OpenAI, Anthropic, and xAI with a minimum investment of $500—no accredited investor status required. Promoted by AngelList co-founder Naval Ravikant, the fund is framed as an opportunity for ordinary people to access high-growth private tech investments traditionally reserved for VCs. However, critics argue it functions more like an exit vehicle for early insiders. USVC acquires shares not through primary rounds but largely via secondary transactions—purchasing stakes from early investors, VC funds, and employees looking to cash out at peak valuations. With companies like xAI heavily weighted in the portfolio, the fund effectively channels retail money into providing liquidity for insiders who entered at much lower valuations. The fund’s structure raises concerns: shares are illiquid, with no secondary market, and buybacks are limited and discretionary. The actual annual fee reaches 3.61%, far above the advertised 1% management fee. This model parallels the "low float, high fully diluted valuation" strategy seen in crypto, where early investors profit by selling to latecomers at inflated prices. The timing—alongside similar moves by platforms like Robinhood—suggests that Silicon Valley’s sudden interest in retail inclusion may be less about democratizing access and more about securing exits for insiders.

marsbitHace 1 hora(s)

$500 to Buy OpenAI Stock: Silicon Valley's Most Respectable Liquidity Invitation

marsbitHace 1 hora(s)

Bitcoin Approaches $80,000 Mark, ETF Funds Continue Inflow, Is the Crypto Market Shifting?

Bitcoin is approaching the $80,000 mark, reaching a new high since February, while Ethereum remains around $2,400 with some altcoins surging significantly. Over the past 24 hours, $462 million in futures contracts were liquidated, with shorts accounting for $353 million. The market fear and greed index has risen to 60, indicating neutral sentiment. Global risk assets continue to rebound, with U.S. stock markets hitting record highs. The S&P 500, Nasdaq, and Dow Jones all saw gains. Meanwhile, the U.S. dollar index remains stable around 98.61. Geopolitical developments, including a temporary extension of the U.S.-Iran ceasefire, have influenced market dynamics, though tensions persist. Bitcoin spot ETFs have seen six consecutive days of net inflows, with a peak single-day inflow of $663.91 million. Ethereum spot ETFs also recorded nine straight days of net inflows. Stablecoin market capitalization has risen to $320.6 billion, with a weekly net inflow of $635 million. Market analysts note that Bitcoin's recovery is supported by renewed spot demand and ETF inflows. However, high realized profits and low volatility suggest caution, with resistance expected near $80,000. Institutional and ETF-driven demand is strengthening market support, indicating a potential shift toward a new trading range with increased upward momentum.

marsbitHace 1 hora(s)

Bitcoin Approaches $80,000 Mark, ETF Funds Continue Inflow, Is the Crypto Market Shifting?

marsbitHace 1 hora(s)

Trading

Spot

Futuros

Artículos destacados

Cómo comprar OP

¡Bienvenido a HTX.com! Hemos hecho que comprar Optimism (OP) sea simple y conveniente. Sigue nuestra guía paso a paso para iniciar tu viaje de criptos.Paso 1: crea tu cuenta HTXUtiliza tu correo electrónico o número de teléfono para registrarte y obtener una cuenta gratuita en HTX. Experimenta un proceso de registro sin complicaciones y desbloquea todas las funciones.Obtener mi cuentaPaso 2: ve a Comprar cripto y elige tu método de pagoTarjeta de crédito/débito: usa tu Visa o Mastercard para comprar Optimism (OP) al instante.Saldo: utiliza fondos del saldo de tu cuenta HTX para tradear sin problemas.Terceros: hemos agregado métodos de pago populares como Google Pay y Apple Pay para mejorar la comodidad.P2P: tradear directamente con otros usuarios en HTX.Over-the-Counter (OTC): ofrecemos servicios personalizados y tipos de cambio competitivos para los traders.Paso 3: guarda tu Optimism (OP)Después de comprar tu Optimism (OP), guárdalo en tu cuenta HTX. Alternativamente, puedes enviarlo a otro lugar mediante transferencia blockchain o utilizarlo para tradear otras criptomonedas.Paso 4: tradear Optimism (OP)Tradear fácilmente con Optimism (OP) en HTX's mercado spot. Simplemente accede a tu cuenta, selecciona tu par de trading, ejecuta tus trades y monitorea en tiempo real. Ofrecemos una experiencia fácil de usar tanto para principiantes como para traders experimentados.

382 Vistas totalesPublicado en 2024.12.12Actualizado en 2025.03.21

Discusiones

Bienvenido a la comunidad de HTX. Aquí puedes mantenerte informado sobre los últimos desarrollos de la plataforma y acceder a análisis profesionales del mercado. A continuación se presentan las opiniones de los usuarios sobre el precio de OP (OP).