Kraken-CertiK $3M Saga & zkSync Airdrop Dump: Finance Redefined
2 min read
Kraken-CertiK $3M Saga & zkSync Airdrop Dump: Finance Redefined
Welcome to Finance Redefined, your weekly roundup of key insights in the decentralized finance (DeFi) sector. This newsletter is designed to keep you informed about the most notable developments from the past week.
The past week was marked by significant news, particularly the zkSync (ZK) token airdrop. Interestingly, a substantial portion of the wallets that were allocated these tokens have already sold them. In another major event, Kraken exchange experienced a $3 million exploit. Security firm CertiK claimed it was a white hat operation, eventually returning the exploited assets after a series of accusations and negotiations.
Kraken successfully recovered nearly $3 million following a high-profile exploit, putting an end to an intense bug bounty saga with CertiK. Kraken’s chief security officer, Nicholas Percoco, confirmed the recovery of the funds, minus the transaction fees. The saga began on June 9, when a security researcher allegedly withdrew the funds from Kraken’s treasury after discovering and sharing a vulnerability.
In another notable update, Consensys, the company behind MetaMask, made significant changes to its privacy policy. These updates aim to enhance user consent, transparency, and control over personal data. Consensys has improved various aspects of its privacy measures, including the processing transparency of internet protocol addresses and better user data management.
Data from blockchain analytics firm Nansen revealed that a significant portion of the new ZK tokens distributed in the airdrop has already been sold. Specifically, 41% of the top wallets that received the tokens sold their entire allocation, leading to a 34.5% drop in the price of ZK since its launch. In total, over 486 million ZK tokens were sold by these early recipients.
In efforts to bolster security within the DeFi ecosystem, 1inch has partnered with Web3 security provider Blockaid. The collaboration aims to identify and prevent fraudulent activities such as phishing scams and hacks. By simulating transactions before execution, Blockaid’s security features are expected to significantly enhance the security measures in the 1inch ecosystem.
Looking at the broader DeFi market, data from Markets Pro and TradingView indicates that most of the top 100 DeFi tokens by market capitalization experienced a bearish trend this past week. The total value locked in DeFi protocols fell below $100 billion, reflecting a general downturn in the market.
Thanks for following this week’s roundup of the most impactful happenings in DeFi. Be sure to join us next Friday for more updates, insights, and education on this ever-evolving space.
Super informative as always! Consensys’ steps to improve user privacy are crucial. Keep these updates coming! 🔥🔍
Phenomenal coverage on the Kraken exploit recovery! Kudos to the team at CertiK and Kraken for their swift actions.
The bearish trend in the top 100 DeFi tokens by market cap just adds to my worries. It’s not just a bad week, it’s a bad sign.
Lost $3 million in an exploit but got it back minus fees? Not very reassuring. Why does this keep happening?
Always a pleasure reading your reports! This week’s insights on DeFi trends were spot on. Keep them coming! 📊📖”
Fantastic update! The steps Kraken and Certik took to recover the funds is a testament to good security practices.
Excellent coverage of Krakens exploit and the ZK token sell-off. Your newsletter never disappoints!
Thrilled to see these updates every Friday! The DeFi market analysis was spot on. Looking forward to next weeks edition.
The weeks developments were thoroughly covered. Your newsletter is my go-to for staying updated in the DeFi space!
Super informative! The 1inch-Blockaid partnership is just what the DeFi ecosystem needs right now. Great reporting!
The ZK token airdrop seems like a disaster. Almost half the tokens sold right away and the price drops 34.5%? Not a good look for DeFi.
Privacy policy changes are fine, but with all these negative events, this newsletter isn’t convincing me to stay in the DeFi space.
Impressed by Kraken’s recovery operations and the in-depth news on the ZK token. Thanks for the great content! 🌟🌐
Hats off to the Finance Redefined team for keeping us so well-informed! The Kraken and ZK token updates were fantastic.
CertiK calling the Kraken exploit a white hat operation sounds sketchy. Cant be good for trust in DeFi security firms.
Why is it always bad news? Kraken hack, ZK token sell-off, and bearish trends. Where’s the positive development in DeFi?
The general downturn in the DeFi market is making me second-guess my investments in this sector. This newsletter feels like a warning.
Loving these weekly roundups! Consensys’ updated privacy policy is a big win for users. Keep it up!
The transparency and detail in this newsletter are unparalleled! Great job covering the major DeFi events.
This update is full of negative news – exploits, token dumps, and market downturns. Hard to feel optimistic about the DeFi space at the moment.
The DeFi market is tanking, and you call this a “key insight”? Feels more like a weekly panic attack. 📉
Top-notch reporting on the Kraken saga and the overall market trends. Keep up the fantastic work, team!
What’s with all the security issues? Kraken getting hacked for $3 million is pretty alarming. Do I really want to trust this space?
Love the detailed breakdown of events this week. The partnership between 1inch and Blockaid is especially encouraging for security.
Always eagerly await this newsletter! The update on 1inch and Blockaid partnership is exciting news for security in DeFi.
This newsletter feels like it’s just a report on people losing money. Not the key insights I was hoping for.
A multi-million dollar exploit and a huge price drop in airdropped tokens? Sounds like this space is far from stable.
Amazing insights! The updates from Consensys show a real commitment to user privacy. Thanks for keeping us informed.
What an insightful roundup! The ZK token airdrop and Kraken’s recovery were truly the highlights for me. Keep up the awesome work!
Excellent work on breaking down the recent market trends. Your insights are always invaluable! Thanks, team.
This roundup is exactly why I never miss an edition! The partnership between 1inch and Blockaid is a solid move for DeFi security.
Absolutely loved this week’s newsletter! Consensys’ new privacy measures are a game-changer for MetaMask users.
I really appreciate the insights on the Consensys privacy policy updates. This newsletter is a must-read for DeFi enthusiasts.
Great job on covering the zkSync (ZK) token airdrop and the aftermath! Really appreciate the detailed updates.
All this talk about improving security feels a little too late. Shouldn’t these measures have been in place before exploits happened?
Kraken’s recovery of the exploited funds is truly commendable. Great newsletter as always! 🙌💰”
Incredibly detailed and informative. The whole breakdown on the ZK token situation was particularly enlightening! 💡📉”
Wow, what a week in DeFi! Thanks for breaking down the zkSync token airdrop and its impact so clearly.
Big fan of your newsletter! The updates on zkSync were particularly useful. Thanks for the consistent quality! 🌟💡”
A 34.5% price drop right after an airdrop isn’t key insight, it’s a key failure. Whos managing these projects?
Always a delight to read! This weekly roundup really helps me stay in the loop with DeFi. Can’t wait for more!
A solid summary of the weeks key DeFi events! Consensys new measures are a big step forward for privacy.