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Hudson, Mass.-based bank Avidia Bank has selected digital banking service provider Q2 to improve its digital banking capabilities. The $2.5 billion bank will also tap data-driven personalization fintech Personetics’ AI-driven engagement platform through Q2’s platform, Avidia Chief Marketing Officer at Avidia Bank, Janel Maysonet told Bank Automation News. In selecting Q2, Avidia will gain […]
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Vaidik Trivedi
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The arbitrage bot was hacked and lost about $2 million in one of the pools of the Curve Finance platform.
This was first reported by a user under the pseudonym Spreek. He suggested that the hack occurred due to the 0xf6ebebbb() function.
This was confirmed by Beosin. According to them, the attacker took advantage of the fact that it was available without authorization to force a swap between pools.
He then issued an instant loan for 27,255 WETH (more than $51 million), changed the price balance in the WETH/WBTC pool, and conducted an arbitrage transaction through a bot.
The hacker exchanged 1339.8 WETH for 6.95 WBTC at the new rate. He then repaid the loan. The damage from his operations reached about $2 million.
Previously, an unknown liquidity provider lost more than $700,000 due to the actions of the MEV bot. User (0x568) created a WBTC-CRV liquidity pool on the Uniswap v3 platform. He then deposited $1.56 million worth of wrapped bitcoins into it. When setting up, he mixed up the CRV rate. The user set $1 instead of $0.5.
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Anna Kharton
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Credit Suisse shares plummeted more than 20% at market open from the news that Saudi National Bank will not provide more funding to Credit Suisse. Saudi National Bank would have to assume regulatory and statutory responsibilities if it owns more than 10% of Credit Suisse, Mike Sekits, co-founder and managing director of Strandview Capital and […]
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Brian Stone
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Card and financial app Curve has secured a $1 billion USD credit line from Swiss bank Credit Suisse, the company announced Tuesday. London-based Curve, founded in 2015, plans to use the funding to expand its Curve Flex product, which consolidates cards and accounts into one app, in Europe and the U.S., according to a release. […]
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Brian Stone
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