Tokens to Be Added to the Monitoring Tag:

• StormX (STMX): Known for micro-tasks and shopping rewards in the crypto world, STMX is being added to the Monitoring Tag list due to its volatility and risk factors.
• TROY (TROY): Offering advanced broker solutions, TROY will also be included in the Monitoring Tag list.

Tokens to Be Removed from the Monitoring Tag:

• Convex Finance (CVX): Renowned for its staking solutions for DeFi users, CVX will no longer carry the Monitoring Tag.
• Sun (SUN): Part of the TRON ecosystem, SUN has met Binance’s criteria and will be removed from the Monitoring Tag list.

Tokens to Be Removed from the Seed Tag:

• Arkham (ARKM): A pioneer in crypto intelligence, ARKM will no longer carry the early-stage Seed Tag.
• Blur (BLUR): The token of the NFT trading-focused Blur platform has advanced beyond the early stage, leading to the removal of its Seed Tag.
• Jito (JTO): Known for its liquidity solutions in the Solana ecosystem, JTO’s Seed Tag will also be removed.
• Celestia (TIA): With its modular blockchain infrastructure, TIA has progressed significantly and will no longer carry the Seed Tag.

Why Are Monitoring and Seed Tags Important?

Monitoring Tag: Tokens with this tag exhibit higher volatility and risk compared to others. Binance reviews these projects periodically and may delist tokens that fail to meet specific criteria.

Seed Tag: This tag highlights projects that are still in the early stages, signaling that investors should trade with this awareness. The removal of a Seed Tag indicates that the project has reached a significant milestone in its development.

Binance’s Evaluation Criteria

Binance makes tagging decisions based on the following criteria:

1. Team Commitment: The level of dedication the team shows toward the project.
2. Development Activity: The quality and volume of development work on the project.
3. Liquidity and Trading Volume: The token’s market liquidity and trading activity.
4. Security: The network’s resilience against attacks and the reliability of smart contracts.
5. Communication and Transparency: The project’s engagement and communication with the community.
6. Ethical Standards: The absence of unethical behavior or misconduct.
7. Ecosystem Contribution: The project’s contribution to the broader crypto ecosystem.

Users who wish to trade tokens with Monitoring Tags or Seed Tags must complete a risk awareness quiz every 90 days on Binance Spot or Margin platforms. This quiz ensures traders understand the risks associated with these tokens before making trades.

Through these updates, Binance aims to promote transparency, trust, and long-term sustainability in the crypto ecosystem.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Binance Added These Coins to the Monitoring List! Major Drop Followed! appeared first on Coin Engineer.

Frax’s founder Sam Kazemian says that the use of Frax Finance websites is safe and is investigating what the domain name registrar incident was.

In the early hours of Wednesday, a malicious actor hijacked the domain name of the decentralized cross-chain protocol Frax Finance. However, the project team regained control of it with the assistance of the domain name registrar.

“Name.com contacted us and confirmed that the domain names are now directed to the correct DNS under our control. They told us that they will inform us about what caused the incident after conducting a full review after tomorrow.”

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A Domain Name System (DNS) hijacking occurs when the domain name registrar directs users to a malicious site that looks exactly the same as the fake one to give their identity information.

Such attacks are increasingly becoming common in the crypto field. In 2022, the decentralized finance (DeFi) project Convex Finance had to establish new website addresses after an attacker hijacked the original URLs and directed users to malicious sites. So far, the attacker has not stolen any user funds. Kazemian had previously stated that his team was unaware of the incident and that it did not appear to involve a compromise of email or password.

“It doesn’t appear to show that we did anything wrong in any way. It’s not possible to say that it is safe unless they tell us that the account is safe.” said Kazemian.

You can present your own thoughts as comments about the topic. Moreover, you can follow us on Telegram and YouTube channels for this kind of news.

The post Frax Finance Announced Resolution of Domain Name Hijacking Problem appeared first on Coin Engineer.

Today, Attackers have exploited Curve Finance pools. This situation happened due to Vyper compiler had an error caused by 0.2.16, 0.2.15, and 0.3.0 versions. Furthermore, in this attack, the hackers stole 32M CRV (It is worth $24 million) from CRV/ETH pools. After this attack, Vyper posted a tweet below.

PSA: Vyper versions 0.2.15, 0.2.16 and 0.3.0 are vulnerable to malfunctioning reentrancy locks. The investigation is ongoing but any project relying on these versions should immediately reach out to us.

— Vyper (@vyperlang) July 30, 2023

Besides, If the problem still goes on, all CRV/WETH pools might be hacked according to explaining by Vyper. So, this issue can affect all WETH pools. However, Curve Finance has announced that other pools are safe. Thus, WETH pools will not have issues because of CRV issues.

"All affected pools have been drained or white hacked.

All remaining pools are safe and unaffected by the bug"

Statement from CRV Discord pic.twitter.com/EvN2hXyB3E

— Spreek (@spreekaway) July 30, 2023

DeFi platforms have been affected due to the Curve Finance issue.

Many DeFi protocols also faced this issue. Alchemix announced that it lost about 5,000 ETH. According to Alchemix’s statement, alETH/ETH pools have been exploited by a hacker while queuing the transactions.

It is clear that the issues caused by Vyper are just pool issues. Therefore, these attacks will affect just pools. In addition, CRV Token price is currently 0.62 dollars.

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Convex Finance has been badly affected

Convex Finance is one of the projects related to Curve. For this reason, 9.24% of the share Convex is at a loss which is worth 30%. If this price keeps going down Convex Finance might go bankrupt.

What did the Hacker do after attacking?

CRV tokens are still in the hacker’s wallet after the attack. Moreover, some CRV was swapped to WETH. Briefly, the hacker’s wallet includes assets which are worth $19M.

 Curve Finance Founder’s position might be liquidated.

The CEO sent his $300M CRV token to the AAVE platform. After that, he borrowed $60M. It is thought that the CEO bought a new house in Australia with this money. Also, If the CEO cannot pay his loan AAVE might face this kind of issue.

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The post Curve Finance (CRV) was exploited. Hackers stole over $47M. appeared first on Coin Engineer.