Blockchain
Blockchain Sleuth Warns About Unrevealed ‘Critical Flaws’ in Ethena
Tardfiwhale, a pseudonymous blockchain sleuth who predicted the fall of Luna and UST, has warned about critical flaws in Ethena, a rising blockchain synthetic dollar stablecoin protocol. Tardfiwhale is asking for donations to certain entities before revealing these alleged flaws, as Ethena has no bug bounty program.
‘Critical Flaws’ Present in Ethena According to Pseudonymous Blockchain Sleuth
Ethena’s decentralized protocol is being scrutinized by actors in the blockchain field. Tardfiwhale, a pseudonymous blockchain sleuth, has supposedly found “critical flaws” in the system that backs Ethena, which has already issued more than $1.5 billion worth of USDE, a synthetic dollar stablecoin.
Since March 15, Tardfiwhale has been alerting about alleged flaws that will supposedly make protocol users “lose a lot of money” given how its system currently operates. Before, the investigator accurately predicted the demise of LUNA and UST and alerted on possible bank runs involving the OHM platform.
Nonetheless, Tardfiwhale won’t reveal the origin of these problems for free, as he is asking for donations to be paid to third parties after these flaws are revealed and proved to exist. First, he asked for $500,000 in donations, with half going to Protocol Guild, a group of Ethereum developers. The other half would be divided between Zachxbt, another crypto researcher, and the legal defense of Tornado Cash devs, who are facing money laundering charges.
On March 18, he increased the bounty to $1 million, maintaining the same proportions for the recipients of these donations. Tardfiwhale explained this had to do with the involvement of Maker and Mantle in Ethena, protocols that will invest hundreds of millions in Ethena.
On his motivations for destining these donations to third parties before revealing the problems he found in Ethena, he stated:
,,This is a chance for me to give back, and after all the pain caused from UST, FTX, Celsius, etc., it would be sad to see another disaster with USDE.”
He emphasized that revealing these flaws would yield him no benefit and that he is only trying to avoid another disastrous event for the crypto community.
Ethena is on the verge of airdropping 750 million ENA, its governance token, and recently announced a campaign to include bitcoin as a backing asset.
Source: https://news.bitcoin.com/
The post Blockchain Sleuth Warns About Unrevealed ‘Critical Flaws’ in Ethena appeared first on HIPTHER Alerts.
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Blockchain
Humanity Protocol Secures $20 Million Strategic Funding from Jump Crypto and Pantera Capital at $1.1B Fully Diluted Valuation
Humanity Protocol, a decentralized identity blockchain solution, is today announcing the successful closure of its latest $20 million funding round, co-led by Pantera Capital and Jump Crypto at a $1.1 billion fully diluted valuation.
This investment represents a vote of confidence in Humanity Protocol’s mission to redefine decentralized identity and unlock new possibilities for secure, inclusive, and user-owned blockchain ecosystems. It follows the recent announcement of the Humanity Foundation’s formation, led by Yat Siu, Mario Nawfal, and interim CEO Yeewai Chong.
The funding will accelerate Humanity Protocol’s development of Proof of Humanity, Human ID, and seamless integrations with leading Web3 platforms. With the support of Jump Crypto and Pantera Capital, Humanity Protocol is poised to scale its operations, expand its global reach, and drive adoption across industries beyond Web3.
As Humanity Protocol continues to grow, the funding will also support upcoming initiatives, including partnership announcements, developer grants, and community-building efforts leading up to the protocol’s mainnet launch.
Both Pantera Capital and Jump Crypto bring extensive expertise in blockchain, Web3 infrastructure, and strategic scaling, making them ideal partners in Humanity Protocol’s next growth phase.
“At Humanity Protocol, we’re committed to empowering individuals with digital identities that are truly their own,” said Terence Kwok, Founder of Humanity Protocol. “This investment from Jump Crypto and Pantera Capital brings us one step closer to realizing a future where trustless, decentralized identity solutions are the norm. We’re honored to have the backing of such visionary investors who share our belief in the transformative potential of Web3 technologies.”
“At Pantera Capital, we are excited about all the ways that blockchain enables a future AI-driven world, and Humanity Protocol is leading the way,” added Cosmo Jiang, General Partner at Pantera Capital.
The post Humanity Protocol Secures $20 Million Strategic Funding from Jump Crypto and Pantera Capital at $1.1B Fully Diluted Valuation appeared first on News, Events, Advertising Options.
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