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Flash loan exploitation results in the theft of $ 37.5 million.

CREAM token loses 40% with a spate of sales after the incident.

Alpha Labs announced that the issue is resolved

Decentralized finance has come a long way in the past year, with new and innovative features that are constantly evolving and adapting to new projects and contracts. However, exploitations of vulnerabilities still occur, as we saw this February 13.

This Saturday, February 13, the popular CREAM project suffered a huge flash loan exploitation of $ 37.5 million. The team announced the attack while the situation is still developing, saying they were working on a post-mortem report through relevant parties.

It appears that the exploitation took place using Alpha Homora by borrowing sUSD from IronBank.

Although the operator has managed to continuously loan double the funds, it appears that he pocketed 13,200 WETH, 3.6 million USDC, 5.6 million USDT and 4.2 million DAI .

The Block research analyst Igor Igamberdiev detailed on Twitter the process and how it happened:

It is believed that Alpha Labs fixed the problem. While the funds were mined through Alpha Hamora, an Ethereum protocol to profit from your position in yield growing pools, the funds were borrowed by the exploiter.

Alpha Labs has since said they are working with YFI founder Andre Cronje and CREAM Finance to investigate the stolen funds. They claim that a prime suspect has already been identified.

CREAM dives after the attack

Following the exploit on Alpha Hamora, CREAM saw its price drop by 40%. The went from $ 285 to $ 173.

The price of CREAM fell 40% as a result of the exploit. Source: Tradingview
As one of the deployers, the price suffered a dramatic drop before seeing some recovery. The CREAM team announced that everything is working normally. The team has relaunched the markets, and a post mortem will follow.

”CREAM’s contracts and markets were investigated which revealed that everything was functioning normally. The markets have been reactivated in both versions, V1 and V2.

This hack took place as the number of attacks rises with Bitcoin’s bull cycle. On January 26, a hacker exploited a system vulnerability on SushiSwap using the DIGG token of the Badger DAO. The hacker fled with 81 ETH, worth approximately $ 103,842 at the time.

De winst op MicroStrategy’s Bitcoin-holding steeg dit weekend weer boven de $1 miljard

Het bedrijf kondigde vrijdag een nieuwe aankoop van $10 miljoen aan Bitcoin aan

De koers van het aandeel MicroStrategy is sinds augustus meer dan vervijfvoudigd

De winst op MicroStrategy’s Bitcoin-belegging steeg dit weekend weer tot boven de grens van $1 miljard, slechts enkele uren nadat het bedrijf een nieuwe aankoop van $10 miljoen aan Bitcoin aankondigde. De laatste aankoop vond plaats toen de Bitcoin van $42.000 naar $29.000 dook, waardoor het bedrijf nu bijna ₿71.000 in handen heeft, een bedrag dat het in slechts zeven maanden heeft opgebouwd.
MicroStrategy voegt meer Bitcoin toe

MicroStrategy begon hun bitcoin-koopavontuur in augustus vorig jaar, toen de Bitcoin rond de 10.000 dollar stond, en verzamelde net iets minder dan 70.500 dollar via verschillende aankopen eind 2020. Toen de prijs eind 2020 omhoogschoot, steeg hun ongerealiseerde winst in een mum van tijd tot in de honderden miljoenen en werd de grens van 1 miljard dollar overschreden toen de Bitcoin op 1 januari de grens van 30.000 dollar doorbrak.

Toen de Bitcoin van $42.000 naar $29.000 zakte, verkochten de particuliere handelaren paniekerig, maar MicroStrategy kocht op spectaculaire wijze nog eens ₿314 voor $10 miljoen, waarmee hun totale uitgaven aan Bitcoin op $1,135 miljard kwamen en hun eigendom op ongeveer ₿70.785:

MicroStrategy heeft ongeveer 314 bitcoins gekocht voor $10,0 miljoen in contanten, in overeenstemming met zijn Treasury Reserve Policy, tegen een gemiddelde prijs van ongeveer $31.808 per bitcoin.

Aandeelhouders plukken de vruchten

Aandeelhouders die aanvankelijk sceptisch stonden tegenover het plan van CEO Michael Saylor om een kwart van hun balans om te zetten in Bitcoin, zullen blij zijn dat hij ze heeft kunnen ompraten, want de koers van het MicroStrategy-aandeel heeft die van de Bitcoin geëvenaard – de koers is sinds augustus meer dan vervijfvoudigd, van $122 vóór de eerste Bitcoin-aankoop naar $631 twee weken geleden.

Deze stijging is misschien niet verwonderlijk, aangezien de dollarwaarde van de activa van het bedrijf in zeven maanden tijd met 1,2 miljard dollar is gestegen, zonder dat er kosten aan te pas zijn gekomen, afgezien van wisselkosten. Er is niet één bedrijf in de wereld dat geen moord zou doen voor zo’n rendement, en Saylor’s visie en anti-establishment vooringenomenheid werpt zijn vruchten af, voorlopig althans.

LTC står overfor motstand på henholdsvis $ 185 og $ 225.

Bølgetellingen antyder at LTC har begynt en bullish impuls med sine mars lavt.

LTC / BTC står overfor motstand kl0.008

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Trust Project er et internasjonalt konsortium av nyhetsorganisasjoner som bygger standarder for åpenhet.

4. januar ble den Litecoin (LTC) -prisen nådde en høyde på $ 173, en høyde som ikke er sett siden 2018.

Mens det kan fortsette å øke og nå motstandsområdet på $ 185, ser det ut til at det nåværende rallyet er topptungt, og en korrigerende bevegelse vil snart følge.

LTCs langsiktige bevegelse

Det ukentlige diagrammet viser at LTC endelig har beveget seg over toppene i juni 2019 på $ 145 og faktisk har nådd en ukentlig avslutning over dette nivået.

Hvis den fortsetter å øke, vil de neste motstandsområdene være på $ 186 og $ 225, henholdsvis 0,5 og 0,618 Fib retracement nivåer.

Tekniske indikatorer er bullish, og støtter muligheten for et brudd og en gradvis bevegelse mot de beskrevne motstandsområdene.

Cryptocurrency trader @ Pentosh1 skisserte et diagram og sa at når det endelige motstandsområdet på $ 140 er brutt, vil sannsynligvis et betydelig oppadgående trekk følge.

Siden tweeten har LTC beveget seg over dette nivået og vil dermed sannsynligvis fortsette å øke.

Turkey has been researching a digital currency since 2019, but efforts are intensifying against the backdrop of high inflation.

While Turkey’s inflation rate is now in double digits , Naci Agbal, the governor of Turkey’s central bank, has now announced that basic research on a country’s central bank digital currency (CBDC) has been completed and that first practical tests are in the second half in 2021.

“There is a research project for a digital currency,” as Agbal confirms according to two Turkish news portals

To this end, he adds: “The concept development has already been completed. We want to start the first pilot tests in the second half of 2021. ”

Agbal’s confirmation is a bit of a surprise, although Turkey has been researching its own CBDC since mid-2019 . However, tests would have to be a digital Turkish lira in the coming year actually even a little late, because as Minister Erdogan in November 2019 announced , had first tests should take place at the end to the 2020th

The progress on CBDC comes at a time when Turkey’s central bank is struggling with inflation rates of up to 14%

Agbal, who was appointed the new head of the central bank just last month, announced last week that his institute was “determined” to bring inflation back down and achieve an annual rate below 10%.

As previously reported, Turkey is one of the countries that is most interested in the introduction of its own digital currency, as the population seems to be very willing. Almost 20% of the Turkish population are said to have money in the form of crypto currencies. However, new figures suggest that this figure is calculated a little too optimistically .