Hackers Farm EigenLayer Points

🤔 New Crypto Attack: Restake Farming Alert

Novel Attack Technique: Angel Drainer group is exploiting the restaking protocol, EigenLayer, to drain wallets using a unique approval farming attack.

Attack Mechanism Explained: Attackers use a queueWithdrawal transaction, which most security tools don't recognize, allowing unauthorized withdrawals.

Preventive Measures: Blockaid is implementing fixes for all enabled wallets and advises contacting them for protection against this attack. Read More.

️ On today's Top Picks:

  1. 📝 Polygon lays off 19% of its staff.
  2. 🌌 Wormhole introduces Wormhole ZK.
  3. 🪂 AltLayer airdrop for Celestia stakers.
  4. 💰 Clusters raises $9M in Seed funding.

Read time: ⏰ 5 minutes


Crypto News


• ⭐️ Polygon lays off 19% of its staff citing, “for the sake of enhanced performance, rather than for financial reasons.”

• Celsius distributes $3B in crypto, fiat, and Ionic Digital stocks to creditors.

• Genesis pays $21M to SEC as it settles lawsuit over Gemini Earn program.

• OPNX exchange to shut down as users are advised to withdraw funds by February 14th.

• ByBit submits license application to operate its platform in Hong Kong.

• Andrew Tate proposes launching his own cryptocurrency.

Alpha


• Puffer Finance Crunchy Carrot Quest Chapter 2 enabling deposits is live.

• Taiko launches Deciphering BCR campaign on Galxe.

• ⭐️ Wormhole introduces Wormhole ZK, an endgame for blockchain interoperability.

• Namada Shielded Expedition is live.

• Farcaster sign-ups are FREE for several countries.

• DeBank launches Mantle $MNT Airdrop Hunter Web3 Badge.

Airdrops


• ⭐️ AltLayer $ALT airdrop for Celestia $TIA stakers revealed.

• Forge airdrop strategy by Earndrop.

• Aevo announces details regarding $AEVO, farming program, and airdrop.

• Shardeum $SHM Aidrop phase 1 details released.

• Avantis potential airdrop by Alpha Drops.

Finance News


• US Federal Reserve keeps interest rates unchained at 5.25% - 5.50%.

• US Unemployment Rate in January at 3.7%, better than expected at 3.8%.

• Marathon Digital $MARA agrees to pay Hut 8 $HUT $13.5 million termination fee.

• Zoom $ZM to cut 150 jobs citing it regularly evaluates its teams to ensure alignment with its strategy.

• Okta $OKTA to lay off 400 employees amid high costs.

Security and Exploits


• ⭐️ Blockaid discovers emerging attack by Angel Drainer targeting EigenLayer restakers.

• Binance freezes stolen $XRP worth $4.2M in collaboration with ZachXBT and Ripple team.

• RevokeCash adds support for ZetaChain Mainnet.

Token Unlocks


• Nym / 45.63M $NYM / ~$9M / FEB 02
• Sui / 34.62M $SUI / ~$54M / FEB 02
• Liquity / 657.35K $LQTY / ~$828K / FEB 04
• Galxe / 5.18M $GAL / ~$9M / FEB 04


Funding


• CUBE, a hybrid crypto exchange; raises $12M in Series A funding led by 6th Man Ventures.

• ⭐️ Clusters, a crosschain name service; raises $9M in Seed funding.

• Pixelmon, a decentralized gaming project; raises $8M in Seed funding.

• Squid, a crosschain protocol powered by Axelar; raises $4M in Strategic funding led by Polychain Capital.

• Velar, a Bitcoin liquidity protocol; raises $3.5M in funding.

• Hivello, a DePIN company; raises $1.5M in funding.

• MON Protocol, an IP governance protocol; raises an undisclosed amount in Strategic funding.

The Degen Farmer

Top stablecoin yield farms of the day, more than $3,000,000 in TVL. DYOR and step up your farming game!

PROTOCOLASSETSAPY
Aerodrome logoAerodrome (Base)DOLAUSDC77.57%
Notional V3 logoNotional V3 (Arbitrum)NUSDT62.63%
Beefy logoBeefy (Arbitrum)MIMARBUSDCEUSDT55.94%
Abracadabra logoAbracadabra (Arbitrum)MIMUSDCUSDT49.86%
Vela Exchange logoVela Exchange (Arbitrum)USDC43.80%
Solv Funds logoSolv Funds (Arbitrum)USDT42.12%
Turbos logoTurbos (Sui)USDTUSDC33.82%
Jones DAO logoJones DAO (Arbitrum)JUSDC31.30%
. . .

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. . .

That’s it for today’s edition! See you soon.

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