Phishing Attack Not a Uniswap Protocol Exploit

Per a tweet by the Binance CEO, Changpeng Zhao, Uniswap V3 on the Ethereum blockchain has been hit with a web2 phishing attack.  

Binance’s ‘threat intel discovered this security breach. Binance exchange noted that the security team regularly scans public blockchains. A set of transactions on Uniswap v3 Positions triggered an alarm during the scanning exercise on Tuesday. CZ Binance later took to Twitter to notify the top decentralized exchange, Uniswap of the issue.

Notably, the hacker has carted away 4295 ETH worth over $4.7 million at the time of writing, using this address; 0x09b5027eF3a3b7332EE90321E558baD9C4447AFA

More so, the assets were being laundered through the fully decentralized protocol for private transactions on Ethereum, Tornado Cash. This then makes it difficult to name the perpetrator. 

However, the Binance CEO wrote that his team could help resolve the issue. 

Changpeng Zhao tweeted; Our threat intel detected a potential exploit on Uniswap V3 on the ETH blockchain. The hacker has stolen 4295 ETH so far, and they are being laundered through Tornado Cash. Can someone notify Uniswap? We can help. Thanks

“One of the few tokens we listed without requiring direct contact info of the project team. This is where it would have been useful,” he added. 

One of the few tokens we listed without requiring direct contact info of the project team. This is where it would have been useful.

— CZ Binance (@cz_binance) July 11, 2022

Read Also: Hacker Receives $6 Million from Aurora Labs for Saving 70,000 ETH from Getting Stolen

UniSwap Protocol is Safe

In a subsequent tweet, CZ Binance reported that the Uniswap team have been contacted, citing that it was a “phishing attack” and not an attack on Uniswap’s protocol.

He wrote, “Connected with the Uniswap team. The protocol is safe. The attack looks like a phishing attack. Both teams responded quickly. All good. Sorry for the alarm. Learn to protect yourself from phishing. Don’t click on links.”

Connected with the @uniswap team. The protocol is safe.

The attack looks like from a phishing attack. Both teams responded quickly. All good. Sorry for the alarm.

Learn to protect yourself from phishing. Don't click on links. pic.twitter.com/FIXebz3iBC

— CZ Binance (@cz_binance) July 11, 2022

“We have looked into it and believe it is not an issue with the protocol but rather a phishing attack that resulted in the theft of a Uniswap v3,” Uniswap protocol wrote. Reportedly, Uniswap’s smart contract is safe.

To further clarify the occurrence, Uniswap’s CEO tweeted; “This was a phishing attack that resulted in some LP NFTs being taken from individuals who approved malicious transactions. Totally separate from the protocol. A good reminder to protect yourself from phishing and not click on malicious links.”

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The post CZ Binance Reports Phishing Attack Targeted at Uniswap Liquidity Providers: 4295 Ethereum (ETH) Stolen appeared first on Times Tabloid.

Long position and short position are two concepts that are often discussed together. In the context of trade, both the cryptocurrency market and the regular market use these terms. The long and short positions are the two concepts that are taught to new traders as soon as they start their journey in the trading area.

Owning an asset when its value is expected to rise is called a long position, whereas short positions involve selling the asset in the hopes of repurchasing it at a lower price.

However, the emphasis this time will be to discuss the short position.

Understanding short positions

There are typically three possible outcomes for a short position in cryptocurrency trading. The entrance point is when you borrow and sell an asset, the waiting phase is when you sit tight for a price drop, and the exit phase is when you buy the item back at a lower price, pocket the difference, and return it to the lender.

For a newbie, all these actions might seem overwhelming. The word “short” is often used to denote an open position, and the trade entry button may be labeled “sell” or “short,” depending on the trading platform.

Additionally, while shorting the market, you have the choice between a short call and a short put to assist you in hedging your bet against further losses.

However, the stop loss remains the same regardless of which option you pick.

In order to sell shares of stock at a certain price, you may acquire a short call option, and to repurchase shares of stock, you can purchase a short put option.

In light of the fact that expert traders like shorting stocks, it’s important to keep in mind that this profitable strategy might backfire if used on a massive scale. You should verify with your exchange if they provide this service before engaging in any short transactions.

How to trade any assets available at Uniswap?

Coming into the cryptocurrency space without a solid investment portfolio or prior experience might be challenging. But more problematic is when you want to try out too short and long a crypto, and you cannot find the perfect platform.

Though it might sound hard to believe, now you can trade short positions of any assets available at Uniswap, thanks to the Decentralized crypto betting platform, Logium.

Logium provides viable crypto market options since it can be used to short and long any token. In this case, the platform addresses the issue of decentralized finance and unleashes a truly free market for derivatives.

All transactions on Logium are peer-to-peer (P2P), completely transparent, accessible through its decentralized contract, and the platform does not store users’ assets.

The transaction is made through the help of the platform provided by Logium through Uniswap. Any coin traded on Uniswap may be forecasted using the multiplier tool.

You may short any of the available tokens with the platform’s assistance, including assets like SHIBA INU, despite fluctuating value.

Nonetheless, its currency performance in the market has outperformed several top cryptocurrencies, and it is currently regarded as one of the finest short-term profit makers among cryptocurrencies. And with Logium, you may profit from this fact.

Conclusion

It is essential to keep in mind that trading is a high-risk activity; as a result, it is your obligation as a trader to work toward minimizing risks while ensuring that you can still earn a profit.

The approach is known as “going short” refers to the process of acquiring an asset while maintaining an open position.

When you anticipate that the price of a certain cryptocurrency will fall over an extended period of time and you are interested in purchasing that coin, you may use this method.

When developing a trading strategy that is optimal for your particular set of circumstances, the two most crucial considerations to give attention to are the analysis of the market and your own level of comfort with taking risks.

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The post What are short positions, and how they work on Uniswap appeared first on Times Tabloid.

According to the data recently shared on Twitter, Cardano (ADA) clinched the third position based on 30-day development activity with 386 Github submissions per day.

Read Also: Paradox Studios Founder Says Solana Will Beat Ethereum in Web3 Gaming This Year, Shares Reasons

Currently, according to the data, Uniswap (UNI) is the fasted developed asset in the market with 1,070 Github submissions per day, followed by Solana (SOL).

Going by the report, Pokaldot (DOT), and Kusama (KSO) are behind Cardano (ADA) on the monthly ranking list.

Santiment tweeted, “Uniswap $UNI has dominated the development activity leaderboard this past month, with a staggering 1,070 notable Github submissions per day from their developers. Solana $SOL, Cardano $ADA, Polkadot $DOT, and Kusama $KSO round out the top 5.”

#Uniswap $UNI has dominated the development activity leaderboard this past month, with a staggering 1,070 notable #github submissions per day from their developers. #Solana $SOL, #Cardano $ADA, #Polkadot $DOT, and #Kusama $KSO round out the top 5. https://t.co/UJe3KJLHib pic.twitter.com/GB1FhHs7Wx

— Santiment (@santimentfeed) March 17, 2022

Read Also: CryptoCompare: Cardano Long-Term Holders Grow 32%, Indicating Increase in ADA Accumulation

Santiment’s metric tracks the development data of thousands of public Github repositories. The more users contribute to a project, the higher place it gets in the ranking.

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