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Kyber Network’s Elastic Platform Vulnerability: Why Your Funds Could Be At Risk

Kyber Network, a popular decentralized finance (DeFi) protocol, warned users of a possible security vulnerability in its Elastic platform, urging them to withdraw their funds as a precautionary measure.The team assured users that investigations are ongoing and no user funds have been lost.The Kyber team stated, “We have identified a potential vulnerability and strongly advise all Liquidity Providers to withdraw your funds on Elastic as soon as possible. Investigations are ongoing, and no user funds are lost.”Elastic is a decentralized exchange platform that enables users to swap tokens and liquidity providers to deposit tokens and earn a yield on their deposits.Also Read: The Real Reason Why Shaquille O’Neal Is In Hot Water Along With FTX Co-FounderAs a precaution, the Kyber team has paused users from adding liquidity to the platform.They also promised to provide more details on the situation when KyberSwap Elastic is re-enabled.Another exchange product, KyberSwap Classic, remains unaffected.Following the warning, the total value locked in the Elastic platform fell from $105 million to approximately $52 million as users withdrew their funds.It’s worth noting that KyberSwap Elastic utilizes the concentrated liquidity concept, similar to Uniswap v3, which allows liquidity providers to specify price ranges for their liquidity positions.Despite this, the vulnerability discovered by Kyber Network has raised concerns, and the team is taking necessary measures to protect users’ funds.Read Next: The $7M Transfer Do Kwon Reportedly Made To Law Firm Just Before Terraform Labs’ DownfallPhoto: Shutterstock
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CryptoPunk #7026 Sold For 99 ETH

CryptoPunks are a generative art collection, and one of the first ever applications of NFTs for digital art. There are only 10,000 Punks in existence, and some of them are thought to be lost forever. What happened: CryptoPunk #7026 just sold for 99.00 ETH ETH/USD ($206,315 USD). The value of CryptoPunks is typically determined by Punk’s attributes, with the hoodie, beanie, and pilot helmet traits being the most coveted. Other species of Punks (Zombies, Apes and Aliens) are incredibly rare and also sell for a premium.Here are a list of its attributes and how many other Punks have the same trait:
Accessory: Earring (2,459)
Accessory: Mustache (288)
Type: Male (6,039)
Accessory: Cowboy Hat (142)
Accessory: 3 Attributes (4,122)
Why it Matters: Cryptopunks are the ultimate rookie card for NFT collectors. CryptoPunks have earned huge influence in 2021, with dozens of Celebrities proudly showing off their punk ownership on Twitter. Cryptopunk sales are a leading indicator for the rest of the NFT market, and go to show that some are willing to spend serious coin on blockchain based art.Price Action: Ethereum is currently trading at $2,084.11, down 1.6% over the past 24 hours.See Also: NFT Release Calendar and Best NFT Projects of 2021Data provided by OpenSea.Checkout the full cryptopunk collectionYou can learn more about this NFT here.This article was generated by Benzinga’s automated content engine and reviewed by an editor.
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Cardano Down More Than 3% Within 24 hours

Cardano’s ADA/USD price has decreased 3.15% over the past 24 hours to $0.44. This is contrary to the coins performance over the past week where it has experienced an up-trend of 11.0%, moving from $0.39 to its current price.The chart below compares the price movement and volatility for Cardano over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.The trading volume for the coin has climbed 104.0% over the past week, moving opposite, directionally, with the overall circulating supply of the coin, which has decreased 0.04%. This brings the circulating supply to 35.05 billion, which makes up an estimated 77.88% of its max supply of 45.00 billion. According to our data, the current market cap ranking for ADA is #7 at $15.33 billion.Powered by CoinGecko APIThis article was generated by Benzinga’s automated content engine and reviewed by an editor.© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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CryptoPunk NFT Sold For 53 ETH

CryptoPunks are a generative art collection, and one of the first ever applications of NFTs for digital art. There are only 10,000 Punks in existence, and some of them are thought to be lost forever. What happened: CryptoPunk #9174 just sold for 53.10 ETH ETH/USD ($110,659 USD). The value of CryptoPunks is typically determined by Punk’s attributes, with the hoodie, beanie, and pilot helmet traits being the most coveted. Other species of Punks (Zombies, Apes and Aliens) are incredibly rare and also sell for a premium.Here are a list of its attributes and how many other Punks have the same trait:
Accessory: 2 Attributes (3,279)
Accessory: Stringy Hair (463)
Type: Male (6,039)
Accessory: Front Beard Dark (260)
Why it Matters: Cryptopunks are the ultimate rookie card for NFT collectors. CryptoPunks have earned huge influence in 2021, with dozens of Celebrities proudly showing off their punk ownership on Twitter. Cryptopunk sales are a leading indicator for the rest of the NFT market, and go to show that some are willing to spend serious coin on blockchain based art.Price Action: Ethereum is currently trading at $2,084.11, down 1.6% over the past 24 hours.See Also: NFT Release Calendar and Best NFT Projects of 2021Data provided by OpenSea.Checkout the full cryptopunk collectionYou can learn more about this NFT here.This article was generated by Benzinga’s automated content engine and reviewed by an editor.
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