Seneca Stablecoin Hacker Returns Stolen Funds After Exploit
Seneca stablecoin protocol suffers $6.4M breach due to smart contract flaw. Swift response prompts partial recovery, highlights decentralized protocol security challenges.

Seneca stablecoin protocol suffers $6.4M breach due to smart contract flaw. Swift response prompts partial recovery, highlights decentralized protocol security challenges.
Tether, the world's leading stablecoin issuer, is undergoing a leadership shift, with Paolo Ardoino set to become the CEO in December 2023.
Notable contributors include Jane Street Capital, Flow Traders, Two Sigma Ventures, Electric Capital, Jump Crypto, QCP Capital, GSR Markets, Belvedere Trading, and Framework Ventures.
The primary function of the Frax Protocol is to maintain the FRAX price at $1.000 by using AMO contracts, real-world assets (RWAs), and governance actions facilitated by frxGov, leveraging USD oracles as a reference.
A new breed of app-specific stablecoins could be just what DeFi needs.
The main idea is in LLAMMA: replacing liquidations with a special-purpose AMM.
Justin Sun speculated in a tweet that struggling trading firm Alameda might have started the depeg by selling its USDD holdings.
How will this $150 billion industry evolve?
The U.S. continues to lead the world in regulating and embracing the cryptocurrency industry, but the Stablecoin TRUST Act may present quite a few hurdles for new entrants.
Although USDC is the second largest Stablecoin, it is the most used on-chain Stablecoin in the Crypto space.