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Over the last week, the attacker of Euler Finance has released a total of $138 million which is 70% of the total amount stolen from the Euler Finance protocol.
The attacker sent over 7,000 ether to Euler Tuesday and seemingly apologized for their actions in a transaction message.
On March 28, the Euler Finance attacker address sent a significant ETH amount to the Euler deployer address.
The exploiter originally drained $195 million worth of ETH and tokens from the protocol but has now returned around $138 million.
According to statistics, on March 26, the stablecoin economy was valued at $135 billion, with the top stablecoins representing $31.8 billion or 75% of the $42.17 billion in 24-hour global trade volume across the entire crypto market. In the last two weeks since March 11, 7.06 billion USDC and 351.57 million BUSD have been redeemed.
MakerDAO has voted to keep USDC as the primary collateral for Dai, rejecting a proposal to diversify into GUSD and USDP. The decision was made based on reduced risks from a cascading bank run in the US and USDC's return to a $1 peg.
In a recent vote, the MakerDAO [MKR] community reignited its trust in Circle [USDC]. The vote result showed that Maker would keep USDC as its primary reserve.
The MakerDAO community has voted to retain USDC as a key reserve for the DAI token despite recent turmoil for the Circle-issued stablecoin.
Leading decentralized finance protocol, MakerDAO [MKR], has proposed changes to its Peg Stability Module (PSM) operations in response to DAI's recent loss of parity with the US dollar. The proposal seeks community approval to adjust the PSM parameters.
In the past week, MakerDAO has experienced a drop in total value locked (TVL), the supply of DAI, and annualized fee income, signaling some potential trouble for one of the world's largest stablecoin issuers.
Following the collapse of SVB and the stablecoin saga, many have lost faith in crypto-backed stablecoins.
Definition The total amount of coins held on exchange addresses.
The Silicon Valley Bank collapse caused major stablecoin projects to de-peg, and some traders leveraged this to their advantage.
MakerDAO delegates are holding an emergency vote on a proposal by which to stabilize dai during market upheavals.
USDC briefly depegged last weekend when Circle announced it had exposure to Silicon Valley Bank. Investors flocked to these alternatives.
The supply of USDC shrank by 5% while the supply of DAI shot up, increasing to 6.3 billion from 5.1 billion since March 10.
A “desperate” cryptocurrency investor has paid well over $2 million in an on-chain trade to swap out of an investment offering them exposure to $USDC and the decentralized stablecoin $DAI and into $USDT, but only received $0.05 in return.
Andrey Shevchenko — the founder of decentralized finance (DeFi) protocol Zircon Finance — shared his view that MakerDAO's (MKR) so-called "decentralized stablecoin" DAI's (DAI) introduction of USD Coin (USDC) as collateral was an attempt to plug a hole in a flawed system.
The cryptocurrency market has been rattled by the recent collapse of SVB and the subsequent depegging of stablecoins. This incident has highlighted the need for greater transparency and accountability from stablecoin issuers and the importance of regulatory oversight in ensuring the stability of the cryptocurrency market.
Circle's USDC stablecoin had nearly $3 billion in net redemptions since Friday, while the total supply of DAI increased by 1.2 billion tokens over the same time period.
MakerDAO, the protocol behind the decentralized stablecoin DAI, intervened and saved its stablecoin from de-pegging following the collapse of Silicon Valley Bank (SVB). The failure of the tech lender significantly affected Circle's fiat-backed USDC.
The community proposal comes just days after DAI followed its fellow stablecoin USDC in slipping beneath the one-dollar mark.
On March 13, a flash loan attack on the Ethereum-based noncustodial lending protocol Euler finance resulted in an estimated loss of $196 million worth of Dai (DAI), staked Ether (StETH), and wrapped Bitcoin (WBTC). However, this marks the biggest hack of 2023 to date.
Crypto exchange Huobi converted $100 million worth of USD Coin (USDC) to Dai (DAI) as uncertainty spread in the stablecoin market this weekend, on-chain data shows. According to blockchain tracking firm Lookonchain, Huobi made the large transaction early on Saturday morning.
