- Vulnerability in certain crypto wallets.
- Binance invests $5 million in CRV.
- SparkDAO prefarm airdrop details.
- Synthetix Perps supports USDT.
Optimism Highlights 🔴✨
Synthetix Perps Now Support USDT
Synthetix Perps now supports a USDT perpetual futures market on OP Mainnet. Users can now long or short the Tether stablecoin using Synthetix Perps front ends such as Kwenta, Polynomial, and deHEDGE. Users can also deposit USDT as a collateral type. Synthetix Perps supports leverage trading for a total of 52 different assets.Disclosure: We are covering more Optimism news (than usual) to qualify for RetroPGF.
Wallets Vulnerable To Private Key Extraction
Security firm Distrust revealed a vulnerability in cryptocurrency wallets using certain 3.x versions of the Libbitcoin Explorer. The vulnerability is due to the use of the bx seed subcommand used to generate new wallet private key entropy. The pseudorandom number generator used, called Mersenne Twister, is not cryptographically secure. As a result, an attacker is able to brute-force the extraction of private keys for wallets affected by the vulnerability. The issue is not tied to a vulnerability in the Libbitcoin Explorer, but rather the use of the bx seed library to generate private key entropy. Trust Wallet’s browser extension suffered a similar vulnerability earlier this year. According to MyCrypto founder Taylor Vano, Ledger, Trezor, MetaMask, MEW, and ethereumjs wallets are not affected by the vulnerability. Vano urges all users who have ever imported a seed phrase generated from 2019 or before on any online device to migrate assets onto a new Ledger or Trezor hardware wallet.
Binance Invests $5 Million In CRV
Binance Labs, the venture capital arm of Binance, announced a $5 million investment in Curve’s CRV token. This investment entails a collaboration where Curve will explore the potential implementation of its protocol on BNB Chain. The investment coincides with a series of recent over-the-counter CRV token transactions. Michael Egorov, the CEO of Curve, has been settling defi loans that were in danger of liquidation. His most substantial loan is backed by $172 million worth of CRV collateral. His loans faced liquidation risk due to the Curve exploit where an attacker drained the CRV/ETH stablewap pool. Curve Finance holds close to $2.5 billion in TVL.
Spark Protocol Prefarming Airdrop
MakerDAO founder Rune Christensen released details for a future Spark Protocol pre-farming SPK token airdrop. The prefarming airdrop aims to incentivize users to continue using Spark Protocol even when MakerDAO’s stability fee increases to 5%. It also aims to bootstrap an initial user base for forming the SparkDAO. The proposal seeks to retroactively distribute a fixed amount of SPK tokens to borrowers based on the amount and duration of borrowing. The airdrop doesn’t require action from users and will be funded from the SparkDAO Workforce Bonus Pool. It aims to offer a single-digit yield to borrowers. U.S. and VPN users are excluded from the airdrop.