CRYPTO NEWS

MyEtherWallet launches multi-chain wallet extension for Polkadot (DOT): Enkrypt

MEW (MyEtherWallet), a platform to access the Ethereum ecosystem, has announced the launch of a new cross-chain browser extension, Enkrypt, which will support transactions across Ethereum and Polkadot.

For the first time, MEW users will gain access to Polkadot, the sharded protocol enabling blockchains to operate seamlessly together at scale. Enkrypt supports MEW’s goal to provide secure, private, and seamless access to dApps, NFTs, staking services, and more.

The web extension was built with the support of the Web3 Foundation, a Swiss organization that has issued more than 400 grants to projects building on the Polkadot and Kusama networks.

“Interoperability between blockchains has been top-of-mind for MEW users and is a pivotal step towards broader crypto adoption. Our Enkrypt extension aims to improve the overall user experience of interacting in the multi-chain ecosystem to empower users to access the best parts of Ethereum and Polkadot.”
Kosala Hemachandra, CEO & Founder of MEW

Developers believe the pending merge for Ethereum will help facilitate the growth of web3 by making it easier than ever to participate in the operations of the blockchain.

MEW’s Enkrypt extension recognizes the potential of the merge to create more enthusiasm to interact with Ethereum across other blockchains, including Polkadot (DOT).

At launch, MEW’s Enkrypt web extension will allow users to:

  • Transact assets across Ethereum (ETH) and Polkadot (DOT) ecosystems
  • Available on Google Chrome, Firefox, and Safari browsers
  • Natively integrate with MEW’s wallet platforms on both browser and mobile.

“This integration will provide the Polkadot community with a robust wallet solution that’s easy to use, while also giving MEW’s existing user base access to Polkadot’s vibrant cross-chain ecosystem of general purpose computational platforms and application-specific blockchains.”
David Hawig, Technical Advisor of the Web3 Foundation

At launch, Enkrypt by MEW will provide cross-chain access with the Polkadot ecosystem through integrations with parachains Acala and Moonbeam, along with all of their accompanying canary networks. More parachains and EVM-compatible chains will be added in the coming weeks.

The post MyEtherWallet launches multi-chain wallet extension for Polkadot (DOT): Enkrypt appeared first on CryptoNinjas.

Curve Finance: Issue Found And Reverted, CRV Sees 10% Losses

Via their official Twitter handle, the Ethereum-based decentralized finance (DeFi) protocol Curve Finance has confirmed a vulnerability in their nameserver or frontend curve.fi which was successfully reverted. Earlier, the team behind the project advised caution to its users and claimed an investigation has been launched to look into any potential vulnerabilities exploit. The team behind::Listen

Via their official Twitter handle, the Ethereum-based decentralized finance (DeFi) protocol Curve Finance has confirmed a vulnerability in their nameserver or frontend curve.fi which was successfully reverted. Earlier, the team behind the project advised caution to its users and claimed an investigation has been launched to look into any potential vulnerabilities exploit.

The team behind the project said:

The issue has been found and reverted. If you have approved any contracts on Curve in the past few hours, please revoke immediately. Please use curve.exchange for now until the propagation for curve.fi reverts to normal

The team behind the project shared a potential theory about what could be affecting their frontend. A bad actor might have “cloned” their frontend, making it look like it is the same as the Curve Finance product, to affect people accessing it.

The team behind the project shared the following theory from Lefteris Karapetsas, founder of Rotkia App, about the attack affecting their Domain Name System (DNS):

It’s DNS spoofing. Cloned the site, made the DNS point to their ip where the cloned site is deployed and added approval requests to a malicious contract.

Therefore, anyone attempting to access Curve Finance’s curve.fi frontend should refrain from it until there are more details behind the potential attack. In a separate tweet, the team behind the project said that curve.exchange frontend seems to be unaffected.

Any Curve Finance user should revoke transaction approval for the following ETH smart contract addresses: 0x9Eb5F8e83359Bb5013f3D8eee60bDCe5654e8881 and watch out for transactions from address 0x50f9202e0f1c1577822BD67193960B213CD2f331 which the attacker could be using.

Curve Finance Tokens Sees Correction Following Attack

Curve Finance is, at least, the fourth project to be impacted by this DNS hijacking attack, according to Karapetsas. Other DeFi projects victims of these attacks include Ribbon Finance, DeFi Saver, and Convex Finance. Alex Smirnov, a co-founder of deBridge, said the following about this recent attack:

DNS is always a weak link. Here is how we solve this in deBridge and I think every DeFi project should have this.We have an automated monitoring system that checks the hash of the website and all its files. In case hash is changed, critical monitoring is immediately triggered.

Curve Finance claims that the issue could have originated from iwantmyname a DNS manager, but they are yet to offer more details about the incident. As the attack unveiled, the CRV token recorded a 10% correction in the past 24 hours.

CRV’s price trends to the downside on the 4-hour chart. Source: CRVUSDT Tradingview

MyEtherWallet launches multi-chain wallet extension for Polkadot (DOT): Enkrypt

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