A group of white hat hackers led by crypto investment firm Paradigm’s research partner, Sam Sun, prevented a $350 million exploit on SushiSwap’s token fundraising platform Miso after discovering and fixing a bug in under five hours.

Decentralized Exchange aggregator 1Inch Network has expanded to the Optimistic Ethereum mainnet, making it the second decentralized finance app on Optimistic Ethereum after Uniswap.

The Dogecoin Foundation is officially coming back after several years of silence. The foundation is set to support core developers and projects benefiting the meme-inspired cryptocurrency DOGE.

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Top stories in the Crypto Roundup today:

• White Hat Hackers Prevent $350 Million DeFi Exploit
• DEX Aggregator 1Inch Network Launches on ETH Scaling Platform Optimism
• Dogecoin Foundation Officially Relaunches
• Chart of the Week: How Long BTC, ETH, TSLA, and NASDAQ Took to 10x
• Sponsored: Crypto.com - The World’s Fastest Growing Crypto App

White Hat Hackers Prevent $350 Million DeFi Exploit

A group of white hat hackers led by crypto investment firm Paradigm’s research partner, Sam Sun, prevented a $350 million exploit on SushiSwap’s token fundraising platform Miso after discovering and fixing a bug in under five hours.

Sam Sun and his colleagues Georgios Konstantopoulos and Daniel Robinson – all from Paradigm – reached out to the SushiSwap team to alert them about a vulnerability on the Miso platform. The vulnerability reportedly allowed an attacker to bid on auctions for free.

Duncan Townsend, CTO of DeFi bug bounty platform Immunefi, explained:

“The bug was created when a convenience function for wallet addresses interacted with the refund mechanism of the auction contract… Users could over-bid and get a refund of the difference between the current bid and the amount they submitted, but the refund could be repeated to drain the auction contract.”

SushiSwap’s team noted that future planned auctions using the specific Dutch auction contract address with ETH commitments have been paused until an updated version is deployed.

DEX Aggregator 1Inch Network Launches on ETH Scaling Platform Optimism

Decentralized Exchange aggregator 1Inch Network has expanded to the Optimistic Ethereum mainnet, making it the second decentralized finance app on Optimistic Ethereum after Uniswap.

Optimism is focused on scalability and the launch of 1Inch on the network is expected to help increase transaction speeds and lower gas fees for the platform’s users. While deposits from Ethereum to the Optimistic mainnet will be instant, withdrawals may take up to seven days until a fast withdrawal service is launched.

1Inch network co-founder Sergej Kunz said the move will “facilitate a dramatic increase in transaction speed.” The platform has over the last few months expanded to Polygon, another Ethereum layer-two network, and to the Binance Smart Chain.

A 1Inch spokesperson has revealed the protocol is looking at other blockchains including Solana, TRON, Avalanche, and other layer-two solutions.

Dogecoin Foundation Officially Relaunches

The Dogecoin Foundation is officially coming back after several years of silence. The foundation is set to support core developers and projects benefiting the meme-inspired cryptocurrency DOGE.

In an announcement, the Dogecoin Foundation revealed it is reestablishing itself in a bid to support the Dogecoin community and promote its network. It’s set to announce new projects over the coming weeks to encourage the adoption and utility of the cryptocurrency. The announcement reads:

“The Foundation holds the Dogecoin mark and the Dogecoin Logo and will maintain them for the community. This will mean the Foundation can continue to protect the Dogecoin Brand and allow (under a very liberal license) the ability to use it for Dogecoin-related memes, projects and fun. — We’ve got your back on this one.”

The organization is looking to secure a three-year budget to onboard team members to support its goals. It lists Ethereum co-founder Vitalik Buterin, DOGE co-founder Billy Markus, and DOGE core developer Max Keller as advisory board members.

Chart of the Week: How Long BTC, ETH, TSLA, and NASDAQ Took to 10x

The cryptocurrency space has been growing exponentially ever since the Bitcoin network was launched back in 2009. CryptoCompare’s Chart of the Week examines how long it took for different assets to 10X from their creation date.

It looks at both Bitcoin and Ethereum, the top two cryptocurrencies by market capitalization, and to Tesla and Nasdaq, two red-hot asset in traditional equities markets. BTC and ETH significantly outperformed both.

Check out more CryptoCompare research in the link below.

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