The total value locked (TVL) in DeFi protocols rose to $42.9 billion. Led by Lido with $16.43 billion, the second and third places are held by Maker ($8 billion) and JustLend ($5.74 billion), respectively.<\/p>\n TVL in Ethereum apps rose<\/a> to $23.4 billion. Trading volume on decentralized exchanges (DEX) over the last 30 days stood at<\/a> $66.8 billion.<\/p>\n Uniswap continues to dominate the non-custodial exchange market \u2014 it accounts for 61% of total turnover. The second DEX by trading volume is PancakeSwap (15.6%), the third is Curve (5.2%).<\/p>\n The lending DeFi platform lost approximately $2.1 million<\/a> as a result of an illiquid-market exploit deployed on October 27.<\/p>\n According to PeckShield, the attackers exploited a known rounding issue in the popular Compound v2 fork underpinning Onyx’s architecture.<\/p>\n \n\u00abEssentially, the exploited oPEPE market was deployed five days ago with no liquidity. The pool was filled with borrowed funds, which were then repaid due to the rounding issue\u00bb,<\/cite><\/p><\/blockquote>\n The attackers used instant loans<\/a> to marshal resources for the attack and manipulate exchange rates, said a BlockSec spokesperson.<\/p>\n Marinade Finance, the largest DeFi protocol on the Solana<\/a> network, restricted access<\/a> to the platform for UK users due to “compliance issues” with the FCA<\/span>.<\/p>\n When attempting to access the DeFi protocol’s site from the corresponding IP, a warning message pops up.<\/p>\n The developers said that “users can withdraw liquidity, close positions or delay withdrawal from staking via the SDK<\/span>.” For further information, project representatives asked to contact the project email.<\/p>\n The largest DEX on Solana \u2014 Orca Finance \u2014 also introduced a geo-block for the United Kingdom. The site returns a message nearly identical to Marinade’s. To exit open positions and withdraw liquidity, the platform’s team created a dedicated tool.<\/p>\n On October 8 a new crypto advertising regime began in the United Kingdom. The FCA began labeling companies that do not comply with the rules.<\/p>\n Under the new rules, anyone wishing to promote digital assets must be “authorised or registered with the FCA, or their campaign must be approved by an authorised firm”.<\/p>\n Non-compliance is treated as a criminal offense and is punishable by an “unlimited fine and\/or imprisonment for up to two years”.<\/p>\n The Eastern District of New York prosecutors indicted the founders and executives of the DeFi project SafeMoon for fraud involving “millions of dollars”.<\/p>\n Authorities allege that John Karoni, Kyle Nady and Thomas Smith deceived buyers of the SFM token issued on a public blockchain.<\/p>\n Respondents claimed that the asset in liquidity pools was “blocked”. Instead, when the project’s capitalization reached $8 billion, the defendants withdrew “tokens worth millions of dollars” which they spent on personal consumption, prosecutors say.<\/p>\n \n\u00abThey intentionally misled investors and redirected funds to feed their fraudulent scheme and enrich themselves by purchasing a Porsche sports car, other luxury cars, and real estate\u00bb, said Prosecutor Breon Pis.<\/cite><\/p><\/blockquote>\n According to investigators, SafeMoon LLC launched SFM in March 2021. The smart contract provided for a 10% transaction fee on the asset. Half of the commission was distributed among token holders, the other half went to the liquidity pool, where it allegedly was locked.<\/p>\n Within a few months the number of investors surpassed a million, and the capitalization reached $8 billion.<\/p>\n Authorities suspect that the defendants intentionally misled investors about the “blocked tokens”. The defendants not only withdrew funds from pools, but also traded assets, manipulating prices to their advantage.<\/p>\n Publicly they denied owning and trading SFM, and hid the transactions through a complex routing system and anonymous exchange accounts, investigators say. The funds obtained were used to buy luxury cars and real estate in New Hampshire, Utah and Florida.<\/p>\n \n\u00abFor example, Smith, using controlled cryptocurrency addresses, sent 2,900 BNB totaling more than $860,000, which were tracked via the SFM liquidity pool to a third party to purchase a Porsche 911 sports car and a non-fungible token (NFT)\u00bb, the press release states.<\/cite><\/p><\/blockquote>\n Karoni and Smith have been arrested, Nady remains at large. Prosecutors stressed that the defendants are presumed innocent until proven guilty.<\/p>\n Also on ForkLog:<\/p>\n The decentralized finance (DeFi) sector continues to attract heightened attention from cryptocurrency investors. ForkLog has gathered the most important events and news of the past weeks in this digest.<\/p>\n","protected":false},"author":1,"featured_media":86610,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1299,1233],"class_list":["post-86609","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-defi-bulletin","tag-industry-digests"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/86609","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=86609"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/86609\/revisions"}],"predecessor-version":[{"id":86611,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/86609\/revisions\/86611"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/86610"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=86609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=86609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=86609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Snimok-ekrana-2023-11-04-v-17.21.48\"](\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2023-11-04-v-17.21.48-1024x582.png\")
Hackers withdrew $2.1 million from Onyx Protocol<\/strong><\/h2>\n
Two DeFi protocols on Solana blocked British users<\/strong><\/h2>\n
SafeMoon founders charged in a multi-million-dollar scam<\/strong><\/h2>\n
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