Cyber Security News is a Dedicated News Platform For Cyber News, Cyber Attack News, Hacking News & Vulnerability Analysis. Trading volumes exploded: $1.5 billion USDC changed hands (+300% hour-over-hour), while ETH futures open interest jumped $800 million. Kaaviya is a Security Editor and fellow reporter with Cyber Security News. Security-focused projects like Ocean Protocol ($OCEAN) saw muted response, suggesting markets haven’t priced in broader audit risks. The incident precipitated immediate market dislocations: USDC depegged 0.2% to $0.998, DAI gained 0.05%, and ETH prices swung 2% amid surging volumes. She is covering various cyber security incidents happening in the Cyber Space. Blockchain analysts warn that the hacker’s 17,696 ETH hoard worth approximately $49.5 million—poses systemic liquidation risks if dumped on exchanges. The exploit targeted @0xinfini’s smart contract infrastructure, though the precise vulnerability remains under audit. USDC Stability: The 0.2% depeg reflected $1.5 billion in panic redemptions within 60 minutes, per CoinGecko data. The exploit underscores persistent smart contract risks in DeFi’s Layer 2 ecosystems. We're deeply sorry for the concern this causes – our team is working around the clock to investigate and secure all systems at the moment. DAI Demand Surge: The hacker’s 49.5M DAI purchase drove its RSI to 55 (overbought threshold), while MACD indicators flashed bullish divergence. Compound and Aave’s USDC borrowing rates spiked to 18% APY as lenders scrambled to withdraw liquidity. We're aware of reports on a security compromise affecting Infini. For now, markets prepare for potential ETH sell-pressure—a $49.5 million overhang equivalent to 18% of Coinbase’s daily spot volume.
This Cyber News was published on cybersecuritynews.com. Publication date: Mon, 24 Feb 2025 12:35:18 +0000