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One mid-cap layer-1 altcoin recently saw a boost in whale activity, according to the crypto analytics firm Santiment. Santiment tracks the number of altcoin transactions worth more than $100,000, which it considers “whale transactions.” The firm subsequently identifies which altcoins clock the biggest percent changes in whale transactions week over week. This week, Fasttoken (FTN) topped Santiment’s list with a staggering 600% increase in whale transaction count (TC). FTN is the native token of the layer-1 Bahamut blockchain, which utilizes a unique consensus mechanism called Proof of Stake and Activity (PoSA). Explains the project’s whitepaper, “Proof-of-stake systems preach that the higher stake you have, the more ‘voting power’ you get. However, when considering a fair block creation reward distribution environment, it’s not fair to give the higher chance to the node that is simply ‘faster’ or ...

The TORN price surged over 418% in the last 24 hours after a federal court ruled yesterday that US sanctions against Tornado Cash must be abandoned.  TORN managed to break above $40 after the ruling, but has since pared gains to trade at $15.56 as of 2:39 a.m. EST, still up 337% from a day earlier. Along with the surge in price, the altcoin’s trading volumes also underwent a parabolic increase of 15,683%. Tornado Cash Contracts Can’t Be Considered Property, Says Federal Court Tornado Cash’s immutable smart contracts (the lines of privacy-enabling software code) are not the ‘property’ of a foreign national or entity,” according to the Nov. 26 ruling from the US Court of Appeals for the 5th Circuit.  The US Treasury’s Office of Foreign Assets Control (OFAC) therefore “overstepped its congressionally defined authority” when it blocked access to the smart contracts under the International Emergency Economic Powers Act, t...

Decentralized Finance Hacking Incidents: Understanding the Risks and Consequences! Decentralized finance, or DeFi, has transformed the way people access financial services. By using blockchain technology, DeFi enables users to borrow, lend, and trade assets without intermediaries, creating a more inclusive and efficient financial ecosystem. However, with this innovation comes new vulnerabilities, making DeFi platforms prime targets for hackers. In recent years, high-profile DeFi hacking incidents have highlighted the need for enhanced security measures within the industry. This article examines major DeFi hacking incidents, the reasons behind them, and the potential solutions to mitigate risks. The Anatomy of DeFi Hacks Unlike traditional financial systems, DeFi operates in a decentralized and permissionless environment. This lack of central oversight gives users more control but also increases exposure to attacks. DeFi protocols rely heavily on smart contracts—self-executing contracts...