CLAUDE
Yearn.finance Appeals to Arbitrage Traders for $1.4 Million in Recovery Funds After Multisig Error
Yearn.finance seeks the return of $1.4 million from traders after a multisignature scripting error drained its treasury.
Why Multicoin Capital Invested $5.7M in Squads Labs
Multicoin Capital discloses a $5.7 million investment in Squads Labs, bolstering the multisig standard on Solana. The funding accelerates Squads' blockchain-native custody infrastructure, spotlighting major upgrades like SquadsX and Squads (v4), which are set to redefine self-custody and on-chain capital coordination.
Stars Arena Tightens Security Following $3M Exploit
Stars Arena, an Avalanche-based Web3 social media app, is reinforcing its security measures following a $3 million exploit on October 6, 2023. The steps include the transfer of funds to a secure multisig wallet, a comprehensive security audit, and the engagement of a white hat team for rapid security review. Users have been urged not to deposit any new funds until the security overhaul is completed.
US District Judge Rules in Favor of Custodial Arrangement for bZx DAO Members
A US district judge has ruled that bZx DAO transactions are custodial due to the ability for developers to upgrade a smart contract where the key is held by a single developer, as highlighted in a class-action lawsuit against bZx DAO and others. This may impact DeFi platforms that use multisigs and require them to obtain custody licenses to comply with the law.
Vitalik Buterin Emphasizes Importance of Varied Guardians for Crypto Wallet Safety
Ethereum co-founder Vitalik Buterin has highlighted the importance of having a diverse group of "guardians" for maximizing the safety of self-custody crypto assets via multisig and social recovery wallets. Buterin advised decentralizing wallet guardians, so that if the wallet owner disappears, there are enough other guardians left to recover their funds. He also recommended using guardians who can respond quickly to suit fast-moving needs and testing each guardian at least once a year to confirm they haven't lost their accounts.
Safeheron Discovers Security Flaw in MPC Wallets
Safeheron has identified a security flaw in MPC wallets when used with Starknet-based apps like dYdX and Fireblocks. The flaw allows attackers to bypass the security protection of private keys in MPC wallets, potentially leading to unauthorized transactions.