The cryptocurrency world has been shaken by a significant phishing scam that led to a major financial loss for a MakerDAO governance delegate. This incident serves as a stark reminder of the security vulnerabilities that persist in the decentralized finance (DeFi) ecosystem. Identified by Scam Sniffer on June 23, the scam resulted in the loss of $11 million worth of
The introduction of “Brollups,” a new Bitcoin layer 2 solution developed by Bitcoin developer Burak, marks a significant step forward in extending Bitcoin’s capabilities to support a wide range of decentralized finance (DeFi) use cases. This innovative technology aims to achieve these improvements without requiring a hard fork or the issuance of a new token. By leveraging rollups, transactions such
The financial landscape is evolving at an unprecedented pace, driven by rapid technological advancements and shifting client expectations. In response to these changes, Citi has launched a groundbreaking solution known as Citi Real-Time Funding. This initiative aims to meet the growing demand for real-time payments (RTP) and efficient liquidity management, positioning Citi at the forefront of the modern financial services
The recent breach of the US Cybersecurity and Infrastructure Security Agency’s (CISA) Chemical Security Assessment Tool (CSAT) has sounded alarms across the cybersecurity landscape. Exploited through a zero-day vulnerability, this incident has raised significant concerns about the safety and security of high-risk chemical facilities and their stored hazardous materials. This article delves into the details of how this breach occurred,
AssetMark Financial Holdings has announced its acquisition of $12 billion in assets from Morningstar Wealth’s Turnkey Asset Management Platform (TAMP). This significant deal, revealed on June 20, 2024, will see Morningstar Wealth integrated as a third-party strategist on the AssetMark platform, bringing with it model portfolios and separately managed accounts. This development underscores AssetMark’s ongoing commitment to expanding its platform
The asset management industry is undergoing a significant transformation driven by global trends and technological advancements. A recent survey conducted by Northern Trust sheds light on current priorities and challenges faced by 300 global asset management firms. The findings highlight a shift towards product quality, accurate data management, and the adoption of advanced technologies. In an era where competition is
The gaming blockchain Ronin has made a significant stride by announcing its new Ronin zkEVM, a zero-knowledge Ethereum Virtual Machine layer-2 chain that employs a customized version of the Polygon Chain Development Kit. This pivotal development aims to greatly enhance Ronin’s capability to handle the expected surge in user base and transaction volumes over the coming years. The network is
The rise of digital communication has brought with it an increase in cyber threats. Among the recent threats is a highly deceptive phishing campaign targeting Chinese citizens, leveraging advanced technological tactics. Dubbed “quishing,” this latest scam utilizes QR codes embedded in fake official documents to trick unsuspecting victims into revealing sensitive information, exploiting the trust and familiarity people have with
Danske Bank has made a significant advancement in mobile banking and sustainable finance by integrating a new feature into its mobile app. This development enables users to gain clear insights into the sustainability of their investment portfolios, directly addressing the increasing demand among Danish investors for a stronger emphasis on sustainability in their investment activities. Traditionally, obtaining detailed information about
Ethiopia is making significant strides in its economic reform efforts, one of the most notable being the establishment of a Central Bank Digital Currency (CBDC). This initiative is framed within the broader context of Ethiopia’s Homegrown Economic Reform Agenda, which aims to modernize the nation’s financial infrastructure and integrate the Ethiopian economy into the global financial system. The National Bank
The recent ransomware attack on Ascension, a prominent US-based healthcare organization, has stirred considerable concerns within the cybersecurity community. The incident, which led to significant operational disruptions and data breaches, underscores the persistent and evolving challenges faced by the healthcare sector. Ascension disclosed the breach on May 10, 2023, revealing that both personally identifiable information (PII) and protected health information
FlowBank’s recent bankruptcy proceedings have sent shockwaves through the financial community, casting a glaring spotlight on the importance of stringent regulatory compliance. The Swiss Financial Market Supervisory Authority (Finma) has initiated bankruptcy proceedings against FlowBank due to severe and repeated breaches of capital requirements and other regulatory standards. FlowBank, an investment banking challenger headquartered in Geneva with subsidiaries in London
