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The decentralized finance (DeFi) space has suffered yet another setback as Chibi Finance, an innovative project running on Arbitrum, has been accused of absconding with approximately $1 million in customer funds. This disconcerting incident is a stark reminder that extensive research and caution are vital in the DeFi domain.
According to a recent tweet issued by the @lookonchain "Smart Money" wallet tracker, earlier this week, two dormant whales became active again and started buying massive amounts of Arbitrum (ARB) tokens.
The recent accumulation of ARB by whales seemed like a planned action. But what has been ARB's output since then?
Chibi Finance is a relatively new DeFi project that operates on the Arbitrum's Layer 2 network. Recently, the project has been accused of a "rug pull" scam, which involves the withdrawal of user deposits.
Chibi Finance, a DeFi project on the Ethereum Layer 2 network, Arbitrum, allegedly executed a “rug pull”, absconding with about $1 million.
A series of decentralized finance and NFT-related altcoins have posted double-digit gains over the past week as capital begins to flow from larger assets like bitcoin (BTC) and ether (ETH) to more speculative bets like blur (BLUR) and arbitrum (ARB).
Arbitrum has attracted market attention today after two dormant whales re-emerged and scooped massive ARB tokens. Meanwhile, the well-time investments by waking investors and subsequent price upticks have raised insider knowledge concerns. The massive token buys indicate that the dip-pocketed investors had insider knowledge about Arbitrum's blockchain.
Here's a likely opportunity if ARB's short-term range formation extends and BTC remains bullish.
Bitcoin and Ether's recovery has improved traders' sentiment, which could trigger buying in ARB, VET, and STX.
Arbitrum [ARB] gained more than 5% since the rally, bringing relief from the gloom that had pervaded since the U.S. regulators' onslaught.
GMX's volume on Arbitrum has soared by 162.4% in the past month, signifying the increasing interest in decentralized exchanges.
Arbitrum, the leading Layer 2 scaling solution for Ethereum, has reaffirmed its dominance in the market with the launch of Arbitrum Orbit, an innovative tool aimed at empowering Layer 3 networks. Notably, rivals Polygon and BNBChain have also made strides by introducing zero-knowledge rollups.
Offchain Labs has released a dedicated software tool that allows developers to launch their own Layer 3 blockchains.
Arbitrum (ARB) price has consolidated above $1 despite gloomy predictions in the build-up to its $120 million airdrop in April. Three months later, on-chain data shows that Abritrum has sustained high network growth and usage traction.
Create a chain with Arbitrum Orbit for a world of possibilities. Customize the chain and launch a decentralized Nitro-powered blockchain network today.
Arbitrum is a subcaste 2 scaling result specifically designed to address the scalability challenges of the Ethereum blockchain. Developed by Offchain Labs, Arbitrum aims to enhance the speed and effectiveness of deals on Ethereum by exercising a technology called auspicious rollups.
The Graph, the indexing and query protocol for organizing blockchain data, begins the final phase of its integration onto Arbitrum, the Layer 2 (L2) scaling solution built on Ethereum.
As per Token Terminal, Arbitrum's daily fees have declined over the last 30 days, as has its revenue.
Binance crypto exchange has announced support for direct deposit and withdrawal of the USDC stablecoin via the Arbitrum network.
Despite a price downturn since the airdrop in late March, the ARB governance commemorative of Arbitrum, a prominent subcaste- 2 scaling result for Ethereum, has seen its ecosystem thrive. While the commemorative's value may have endured challenges, recent data from a Nansen report reveals positive developments within the Arbitrum ecosystem.
Arbitrum (ARB), a prominent Layer 2 (L2) roll-up solution, has faced challenges in regaining its psychological $1 level over the past week. Following Bitcoin's retest of $24k on June 10, ARB dropped below $1.
The tentatively slated Ethereum upgrade Cancun / Deneb for autumn will be a game-changer for layer-2 rollup technologies such as Arbitrum and Optimism. The basis for this will be the Ethereum Improvement Proposal (EIP) 4844, which will be the main code change of the upgrade, as Christine Kim, vice president in Galaxy Digital's research team explained.
Arbitrum [ARB] short-term recovery faces key obstacles which could offer short-sellers an opening into the market if bypassing them become difficult.
Whales have shown renewed interest in ARB, accumulating $7.22 million worth of the token. This surge could contribute to increased liquidity and a potential market rebound for ARB.
