Yet Another DeFi Protocol Hacked, $24M Stolen – October 26

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $13,184

Bitcoin price printed a spike, dip and strong recovery over the weekend, kicking off the week well above the $13,100 mark today.

Top-20 altcoins have traveled somewhat sideways, with Ethereum and XRP almost unchanged over the last 24 hours, while Polkadot is the most notable mover with a 7% gain.

Top Stories for October 26, 2020 πŸ”₯

πŸ‘‰ Yet Another DeFi Protocol Hacked, $24M Stolen

Decentralized finance (DeFi) platform Harvest Finance was exploited today, resulting in the loss of $24 million in user funds.

The hacker funded the attack using a flash loan, manipulating the prices of assets used in the protocol and eventually converting his funds to Bitcoin.

$2.5 million of the stolen funds were returned to the protocol, for unknown reasons.

πŸ‘‰ Chinese Digital Currency Will Work With WeChat and Alipay

China’s central bank digital currency will work with major payment apps WeChat and Alipay, according to a People’s Bank of China (PBoC) official.

The official, Mu Changchun, said during a conference that the digital currency would not compete with current payment applications, but rather be integrated with them.

Currently, however, the digital yuan is only available to a limited number of users through its own mobile application.

πŸ‘‰ Computer Chip Company AMD May Repurpose GPUs for Crypto Mining

Prominent computer chip company AMD is reportedly considering repurposing older model graphics processing units (GPUs) for cryptocurrency mining.

Tech website Phoronix made the discovery, spotting evidence of “blockchain” Linux drivers that hint at new graphics cards specialized for cryptocurrency mining.