DeFi News Official TheBitTimes.com

Security teams are investigating the cause of the attack. Reports have surfaced of tokens being lost, transaction data being erased, and even entire crypto portfolios being lost. At least $35 million worth of crypto assets have been stolen from Atomic Wallet users since June 2, according to an Analysis from on -chain sleuth ZachXBT. The five largest losses account for $17 million. According to Atomic Wallet on Twitter, the cause of the attack is being investigated. Reports have surfaced of tokens being lost, transaction histories being erased, and even entire crypto portfolios being stolen. An independent investigation carried out by pseudonymous Twitter ZachXBT, known for tracing crypto stolen funds and assisting hacked projects, has found the largest victim lost $7.95 million in Tether (USDT). "Think it could surpass $50m. Keep finding more and more victims, sadly," commented ZachXBT. Screenshot: ZachXBT's investigation into Atomic Wallet's hack. Source: ZachX...

According to insiders, 50% of uninsured deposits will be paid out by next week. According to a post on Mar. 11 by Bob Elliot, chief investment officer of unlimited funds, relief efforts may already be underway less than 72 hours after the collapse of prominent American tech bank Silicon Valley Bank (SVB). Elliot claimed, among many items, that "big banks actively working on buying svb business," the U.S. Federal Deposit Insurance Corporation (FDIC) is planning to cover 95% of uninsured depositors to the acquirer, and that "50pct of uninsured paid out next wk." Cointelegraph reported earlier today that Circle, the issuer of the USD Coin (USDC) stablecoin, had over $3.3 billion in reserves stuck in the troubled bank out of a total of over $40 billion. In addition, SVB reportedly custodied an estimated $5 billion in funds for prominent Blockchain venture capital firms such as a16z, Pantera Capital, and Paradigm. Earlier today, USDC depegged from its one-to-one U.S. d...