DeFi Hackers Targeted by US Justice Department: Uncovering Crypto Crime

• US Justice Department is on the hunt for DeFi hackers and thieves.
• Ethereum un-staking opened on the Beacon Chain, leading to Coinbase Cloud tapping into the Chainlink Oracle network to improve smart contract reliability.
• The total value locked in DeFi protocols fell below $50 billion after five weeks of bullish price action.

US Justice Department Hunts Down DeFi Hackers and Thieves

The United States Department of Justice (DOJ) has set its sights on decentralized finance (DeFi) hackers and exploiters. According to Eun Young Choi, director of the DOJ’s National Cryptocurrency Enforcement Team, these criminals have stolen millions of dollars worth of assets from DeFi networks. North Korean state-sponsored hackers are also a significant threat in this space according to Choi.

Class Action Lawsuit Filed Against Bancor DAO

A class-action lawsuit has been filed against decentralized autonomous organization Bancor DAO due to its failure to provide adequate impermanent loss protection promises for users that stake tokens through its platform.

Celsius Moves $781 Million Worth Of stETH As Lido Withdrawals Open

As Ethereum un-staking opened on the Beacon Chain, bankrupt crypto lender Celsius moved $781 million worth of staked Ether (stETH) from staking service provider Lido as Ether (ETH) withdrawals opened. This was done in order to free up funds for investors who were unable to access their capital while it remained stuck in Lido’s protocol.

Coinbase Cloud Taps Into Chainlink Oracle Network

Coinbase Cloud has tapped into the Chainlink Oracle network in order to improve its smart contract reliability. By becoming a node operator with Chainlink’s oracle network, Coinbase Cloud will be able to provide high quality data provision for several blockchain protocols.

Total Value Locked In DeFi Protocols Drops Below $50 Billion

The DeFi market had another bearish week, with the total value locked in DeFi protocols falling below $50 billion after nearly a month of bullish price action. This is likely due to recent hacks and security concerns, which have caused investors to become wary of entering into any new positions within these protocols