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2024-05-06 07:30:00
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Introduction
ZeroLend is one of the fastest-growing multi-chain lending protocols, which focuses on Liquid Restaking Tokens (LRTs), Real World Assets (RWAs), privacy, and account abstraction.
North Korean IT workers infiltrated crypto companies. Companies include Fantom, Sushi, and Injective. North Korea uses foreign labor to get revenue. When North Korea and crypto appear in the news together, it’s usually not a good sign. It usually has to do with either crypto hacks by the infamous Lazarus Group , or some type of sanctions violation. The most recent case is no different. Sponsored A series of reports have uncovered how crypto companies unknowingly hired several North Korean IT workers. These workers used fake IDs and references to bypass checks. Other than potentially compromising major crypto companies, they also funnel money back to the North Korean regime. North Korean Workers Infiltrating Crypto Companies North Korean workers are exploiting the crypto space in a new way. According to recent reports, individuals from the DPRK have gotten jobs at companies like Injective, ZeroLend, Fantom, and Sushi. SCOOP: My latest investigation exposes how DPRK IT workers have embedded themselves deep into the fabric of the crypto industry. More than a dozen projects confirmed that they inadvertently hired workers from the DPRK – exposing themselves to massive security and legal risks.… — Sam Kessler (@skesslr) October 2, 2024 These workers used face documentation to pass background checks. They also forged their work histories to gain attractive positions in these companies. In some cases, North Korean employees found jobs on freelance platforms or community-driven job boards. These are less likely to have strong vetting processes. Due to many crypto companies employing a remote workforce, it is often difficult for them to vet their employees. This is why many of these companies have discovered North Koreans in their workforce only after US government agencies alerted them over suspicious blockchain transactions. Why North Korean Hackers Are Looking For Jobs in Crypto North Korean IT workers are looking for jobs in crypto for several reasons. The more obvious reason is to get privileged access to companies that handle millions. For example, in August, crypto investigator ZachXBT uncovered a $1.3 million hack and tied it back to North Korean contractors. https://twitter.com/zachxbt/status/1824047425822310580 Another such instance was that of the Sushi Swap’s $3 million hack in 2021. Later, investigators discovered that North Korean IT workers were instrumental in the hack. Even beyond hacking opportunities, North Korean workers seek jobs abroad to funnel the money back to the regime. According to the UN, the DPRK regime earns as much as $600 million annually from its workforce abroad. This money is a key source of foreign currency for the financially struggling regime. This also prompted the US to issue a warning about North Korean workers posing as IT specialists from other locations. On the Flipside In 2022, reports showed North Korean hackers stealing LinkedIn and Indeed profiles to look for work. According to the UN, between 2017 and 2023, North Korean hackers stole $3 billion in 58 crypto cyberattacks. Why This Matters North Korean IT workers in the crypto industry pose a significant risk to global security and the crypto ecosystem. These workers funnel money to the DPRK, while also exposing crypto projects to risks of hacking. Read more about North Korean hackers: Microsoft Flags North Korean Hacker Targeting Crypto Users on Chromium Read more about crypto exchanges pushing for compliance: As Exchanges Push Compliance, GRVT Partners with ComplyCube
How North Korean IT Workers Secretly Infiltrate Crypto FirmsOn October 2, CoinDesk reported that more than a dozen cryptocurrency companies unknowingly hired IT workers from the Democratic People's Republic of Korea (DPRK), including established blockchain projects such as Injective, ZeroLend, Fantom, Sushi, Yearn Finance, and Cosmos Hub. Using fake IDs, these workers managed to pass interviews, pass background checks, and provide real work history. Hiring North Korean workers is illegal in the U.S. and other countries that sanction North Korea, and multiple companies have hired and subsequently hacked North Korean IT workers. “Everyone is trying to filter out these people,” said Zaki Manian, a prominent blockchain developer. He inadvertently hired two North Korean IT workers to help develop the Cosmos Hub blockchain in 2021. U.S. authorities have recently stepped up warnings that North Korean information technology (IT) workers are infiltrating tech companies and using the proceeds to fund nuclear weapons programs. An investigation revealed that North Korean job seekers are particularly aggressive and frequent in targeting cryptocurrency companies - successfully passing interviews, passing background checks, and even displaying an impressive history of code contributions on the open-source software repository GitHub.
North Korean IT Workers Frequently Infiltrate Crypto Firms, Lurk and Then HackBitget market data, today's Top5 tokens are VGX, LSD7, ZEROLEND, CLORE, BLS. among them: VGX is up 55.93% in 24 hours, temporarily at $0.0289; LSD7 is up 29.95% over 24 hours, provisionally at $0.0037; ZEROLEND 24-hour gain of 27.92%, provisionally at $0.00049; CLORE 24-hour gain of 26.62%, provisionally at $0.078; BLS 24 hours up 25.79% to $0.162.
Bitget Today Top 5 Gainers: VGX Gains 55.93% in 24 Hours to Top the ListDeFi abstraction protocol Infinit raised $6 million in a funding round involving Electric Capital, Mirana Ventures, Hashed, and Arthur Hayes’ family office, Maelstrom. Other investors include Lightspeed Faction, Nomad Capital, Robot Ventures, Tangent, and Presto Labs. The project said it plans to use the newly raised funds to enhance its infrastructure and facilitate a smoother experience for DeFi protocol builders. According to a statement shared with The Block, Infinit, which offers support for end-to-end DeFi infrastructure, already powers 12 apps across three chains. This includes protocols such as INIT Capital, Ethena, and ZeroLend. By abstracting the technical details, Infinit aims to streamline processes. The project added that it provides infrastructure tooling to develop DeFi applications, including money markets, DEXs, perpetual platforms and yield protocols. “The goal is for coding to eventually become a non-requirement, allowing anyone to build and launch in minutes using the INFINIT frontend,” the team said.
DeFi abstraction platform Infinit raises $6 million from investors including Electric Capital, Arthur Hayes' MaelstromZeroLend announced that after the integration with Clip Finance, Linea users can automate their farming strategies using the smart pool on Clip Finance. It currently supports USDC, USDe and ETH.
ZeroLend: Integrated with Clip FinanceOdaily News ZeroLend published a statement on the X platform stating that after the integration with Clip Finance is completed, Linea users can use the smart pool on Clip Finance to automate their farming strategies, currently supporting USDC, USDe and ETH.
ZeroLend: Integration completed in Clip FinanceAccording to crypto-fundraising data, stablecoin issuer Agora received investment from Ethereum Layer 2 solution Linea, with the specific amount currently undisclosed. Additionally, Linea also invested in Tomo, ZeroLend, MYX.Finance, Entangle, and CARV. Previously reported, Agora announced in April of this year that it had completed a $12 million seed round of financing, led by Dragonfly with participation from General Catalyst and Robot Ventures. Agora will issue stablecoins supported by cash, US Treasury bonds, and overnight repurchase agreements.
Stablecoin issuer Agora receives investment from LineaThe decentralized lending protocol ZeroLend tweeted that it was excluded from the list of protocols eligible for developer incentives when the ZKsync snapshot was released, with no airdrops at all, raising questions about the fairness and decentralization of its process. In the future, ZeroLend will continue to develop on ZKsync based on incentive measures provided by ZK Nation. In response, ZK Nation stated that approximately 155,000 ZeroLend users received quite substantial token allocations in the ZK airdrop, confirming that tokens directly allocated to projects involve more standards.
ZK Nation: Approximately 155,000 ZeroLend users have received a considerable ZK airdropOn June 11th, Linea announced that the Linea Ecosystem Investment Alliance (LEIA), consisting of more than 50 venture capital companies, has completed its first seven investments. The investment projects include Agora, a payment and asset infrastructure, CARV, a modular data layer for games and AI, Entangle, a cross-chain DeFi protocol, MYX, a decentralized perpetual contract exchange, Tomo, a Web3 SocialFi wallet, ZeroLend, a lending market, and Inverter, a modular protocol stack.
Linea Ecosystem Investment Alliance Completes Seven First InvestmentsOn June 11th, Linea announced that the Linea Ecosystem Investment Alliance (LEIA), consisting of over 50 venture capital companies, has completed seven initial investments. The investment projects include Agora, a payment and asset infrastructure, CARV, a modular data layer for gaming and AI, Entangle, a cross-chain DeFi protocol, MYX, a decentralized perpetual contract trading platform, Tomo, a Web3 SocialFi wallet, ZeroLend, a lending marketplace, and Inverter, a modular protocol stack.
Linea Ecosystem Investment Alliance Completes First Investments, Including Payment and Asset Infrastructure Agora and SocialFi Wallet TomoThe decentralized lending protocol ZeroLend has announced that over 20% of ZERO tokens have been staked.
ZeroLend: Over 20% of ZERO tokens have been stakedData shows that ZeroLend broke its historical high in TVL a few hours ago, with the token rising 36% over the past 24 hours. ZeroLend is a lending protocol primarily built on zkSync and Linea. The upcoming zkSync TGE and Linea's The Surge event have led to a continuous increase in Linea's ecosystem TVL.
ZEROLEND TVL breaks historical high, 24h increase reaches 36%ZeroLend officials posted on social media stating that 15% of the circulating supply of ZERO is currently being staked.
ZeroLend: 15% of the current circulating supply of ZERO is being stakedThe official ZeroLend announced on social media that 15% of the currently circulating ZERO is being pledged.
ZeroLend: 15% of the current circulating ZERO is in pledgeAccording to news on May 12, ZeroLend posted on the X platform that more than 12,500 ZERO holders have pledged ZERO, and the average pledge time is 1.69 years.
Over 12,500 ZERO holders have an average staking time of 1.69 yearsOn May 12th, ZeroLend announced on X platform that over 12,500 ZERO holders have pledged their ZERO, with an average pledge time of 1.69 years.
More than 12,500 ZERO holders have an average staking period of 1.69 yearsOn May 9th, it was announced by decentralized multi-chain lending protocol ZeroLend on X platform that over 450,000 wallets have been uploaded to the airdrop application website. Previously, at least 20,000 earlyZERO tokens were required at the snapshot deadline. Now, any wallet with at least 1 earlyZERO token has been added to ensure compliance with the promise of a 1:1 exchange of earlyZERO to ZERO. As a result, it is expected that most of the airdrop distribution will officially end, but there may still be some areas that need to be addressed.
ZeroLend: The scope of airdrop claims has been expanded to wallets with at least 1 earlyZEROThe decentralized multi-chain lending protocol ZeroLend announced on the X platform that it has uploaded more than 450,000 wallets to the airdrop claim website. Previously, at least 20,000 earlyZERO were required by snapshot deadline. Now they have added any wallet with at least one earlyZERO to ensure compliance with the 1:1 conversion promise from earlyZERO to ZERO. At this point, most of the airdrop distribution is expected to officially end, but there may still be some areas that need processing.
ZeroLend: The airdrop claim range has been expanded to wallets with at least 1 earlyZEROBitget market data, the top five tokens with the highest increase today are LNDX, ZEROLEND, BABYBONK, NUB, SORA. The increases are as follows: LNDX 24-hour increase of 224.4% (new coin opening increase), currently reported at $1.62; ZEROLEND 24-hour increase of 100.9%, currently reported at $0.000602; BABYBONK 24-hour increase of 44.93%, currently reported at $0.000000000057127; NUB 24-hour increase of 35.44%, currently reported at $0.07235; SORA 24-hour increase of 22.55%, currently reported at $0.00576.
Bitget Gainers List: ZEROLEND's 24-hour increase is 100.9%According to ChainCatcher, ZeroLend posted on the X platform that as of press time, the protocol’s TVL has exceeded $190 million, 650 million ZEROs have been staked, and there are more than 16,000 independent holding addresses. ZeroLend has become the largest lending market on Linea, zkSync, and X Layer. According to previous news, ZeroLend announced that ZERO airdrop claims and staking have been launched.
ZeroLend: The TVL of the protocol exceeds 190 million US dollars, and 650 million ZERO have been stakedDelivery scenarios