Lending | ForkLog

ForkLog 19 28.11.2024

Tether to Expand Commodity Lending to $5 Billion by 2026

By 2026, Tether’s allocation for commodity trade financing could grow to $3-5 billion, according to the company’s CEO, Paolo Ardoino, in an interview with The Block. He stated that this activity allows the USDT stablecoin issuer to earn interest income by providing liquidity to a sector that “always needs it.” Ardoino noted that Tether Investments […]

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ForkLog 27 27.11.2024

Collector Secures $2.75 Million Loan Using CryptoPunk as Collateral

NFT collector Seedphrase secured a $2.75 million loan using CryptoPunk #8348 as collateral. According to the platform, this marks the largest NFT-backed loan in history. ? RECORD-BREAKING NFT LOAN ? The unique 7-trait Punk #8348, owned by @seedphrase, was just used as collateral for a 2,750,000 USDC loan on GONDI. Terms: 180 day | 17% […]

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ForkLog 7 18.11.2024

Polter Finance Hacked for $12 Million

The decentralised lending platform Polter Finance has fallen victim to an attack on the Fantom blockchain, losing the majority of its assets—over 16.1 million SGD (~$12 million). The personal loss of the project’s founder, known as Whichghost, amounted to approximately 300,000 SGD (more than $223,000). the following is the police report filed regarding @polterfinance exploit […]

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ForkLog 7 24.09.2024

South Korean Officers Allegedly Used Military Secrets as Collateral for Cryptocurrency Purchases

Several officers of the South Korean army allegedly used secret military passwords as collateral to secure loans for purchasing cryptocurrency. This was reported by local media, citing the Ministry of Defense. According to the ministry, active officers from a military unit in Chuncheon were unable to obtain funds from commercial banks, prompting them to turn […]

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ForkLog 9 16.09.2024

Mining GPUs Gain Popularity as Collateral in Russia

Russians are increasingly taking loans secured by graphics cards used for cryptocurrency mining. This is reported by RBC, citing data from the Federal Notary Chamber (FNP). Over five years, the number of records for these devices in the movable property registry has doubled to 1600. The increase over the past year was 13%. The FNP […]

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ForkLog 10 06.09.2024

MEV Bot Borrows $12 Million, Nets Just $20

An “unfortunate” MEV bot took out a flash loan of $11.7 million but managed to earn only $20 from the transaction. Analysts at Arkham Intelligence highlighted this incident. An MEV Bot just took out a $12 Million flashloan to make less than $20 in profit. It sandwiched a user trying to swap $5K of SHFL […]

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ForkLog 15 30.08.2024

Loka Mining Introduces Forward Contracts for Bitcoin Miners

Andy Fajar Handika, co-founder and CEO of Loka Mining, introduced the concept of forward contracts on future hashrate to attract funding for miners in an interview with Cointelegraph. Small industry players can sell their anticipated computational power for fiat loans, explained the entrepreneur, outlining the tool’s essence. Handika believes forwards will enable miners to finance […]

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ForkLog 8 05.08.2024

Aave Earns $6 Million in a Day Amid Crypto Market Downturn

On August 5, the daily fee volume of the lending platform Aave reached $6 million, driven by the liquidation of positions worth $350 million. Aave Protocol withstood market stress across 14 active markets on various L1s and L2s, securing $21B worth of value. Aave Treasury was rewarded with $6M in revenue overnight from decentralized liquidations […]

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ForkLog 39 05.05.2024

Cred Executives Charged with $783 Million Fraud

The Northern District of California’s prosecutor has charged three former top executives of the crypto lending platform Cred with conspiracy to commit money laundering and fraud amounting to $783 million. According to court documents, Daniel Schatt was a co-owner and CEO of the firm, Joseph Podulka served as the Chief Financial Officer, and James Alexander […]

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ForkLog 23 24.04.2024

CoinEx Introduces Cryptocurrency Loan Service Coinex Loans

The cryptocurrency exchange CoinEx has launched the Coinex Loans service. Users can obtain funds for trading, investment, and withdrawal against cryptocurrency collateral. This was announced in a blog post by the platform. Coinex Loans supports 30 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), BNB, and XPR. Both full and partial debt repayment options are […]

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ForkLog 11 12.04.2024

Aave Fork on Blast Erroneously Liquidates $26 Million in Positions

The lending protocol Pac Finance, modeled after Aave and based on the L2 solution Blast, encountered unexpected liquidations of user positions amounting to $26 million. Random Aave fork on Blast decreased Liquidation Threshold (LT) instead of Loan to Value (LTV) causing $26M worth of unnecessary liquidations. Fundamental problem with forking code is the lack of […]

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ForkLog 15 29.02.2024

Curve Deploys Smart Contracts for Llama Lend Lending Platform

Developers of the decentralized exchange Curve Finance have deployed smart contracts for the Llama Lend lending platform, as reported to ForkLog by project representatives.

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