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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:
- 📝 Polygon lays off 19% of its staff.
- 🌌 Wormhole introduces Wormhole ZK.
- 🪂 AltLayer airdrop for Celestia stakers.
- 💰 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!
PROTOCOL | ASSETS | APY |
---|---|---|
Aerodrome (Base) | DOLAUSDC | 77.57% |
Notional V3 (Arbitrum) | NUSDT | 62.63% |
Beefy (Arbitrum) | MIMARBUSDCEUSDT | 55.94% |
Abracadabra (Arbitrum) | MIMUSDCUSDT | 49.86% |
Vela Exchange (Arbitrum) | USDC | 43.80% |
Solv Funds (Arbitrum) | USDT | 42.12% |
Turbos (Sui) | USDTUSDC | 33.82% |
Jones DAO (Arbitrum) | JUSDC | 31.30% |
+$600,000,000 in airdrops was lost |
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That’s it for today’s edition! See you soon.
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