TrueUSD, the stablecoin company, has confirmed a security breach that has sparked concerns about the compromise of private keys. The breach raises questions about the extent of the compromise, with ChainArgos suggesting that TrueUSD may not have fully disclosed all the details. The situation is further complicated by the curious case of TUSD minting by Justin Sun prior to the hack, which has raised suspicions. The security of the peg and the safety of customer funds are at risk if a malicious entity gains access to TrueUSD's private keys. Blockchain sleuth Zachxbt supports the report and highlights the potential compromise of the deployed private key. Additionally, the subsequent actions involving TEURO tokens add complexity to the situation. Wayne, a part-time trader, provides insights on blockchain technology and cryptocurrencies. The decentralized finance (DeFi) lending platform Raft has temporarily suspended minting of its R stablecoin following a security breach, resulting in over 1500 ETH drained from the protocol. Raft is focused on securing user operations and investigating the incident. The hack was traced to a coding flaw that sent the stolen ETH to an irretrievable null address. The hacker minted unbacked R tokens and exchanged them for ETH, but the critical code flaw locked the ETH in the null address. Raft is working to restore stability and compensate for any losses from its treasury reserves. Redefine, a blockchain security and risk management innovator, has launched its Risk Center and Monitoring solutions for Institutional DeFi Funds. These tools provide advanced risk analysis capabilities for institutional DeFi funds, helping them navigate the complexities of decentralized finance. As institutional interest in DeFi grows, the need for robust risk management solutions becomes increasingly important. Redefine's platform aggregates data from multiple wallets, offering a unified overview of risk across various DeFi activities. It allows fund managers to evaluate aggregated risk, identify high-risk assets, and proactively mitigate threats. The company aims to provide critical risk insights, prevent fund loss, save time, and streamline transaction execution processes.
Term Structure, a non-custodial fixed-income protocol, has announced updates and upcoming features for its Mainnet launch [fe36bee5]. Users will soon be able to use liquid staking tokens (LSTs) and liquid re-staking tokens (LRTs) as collateral for borrowing and lending. The protocol will offer 5 to 6 fixed maturity dates. Term Structure will also introduce a point system to incentivize user engagement and reward active participation. The protocol has completed the trusted setup ceremony for zkTrue-up, its zero-knowledge-proof system, ensuring security. Term Structure aims to offer reliable fixed-returns solutions for the crypto community.