Weekly Summary (November 28th)

Hi Degison! Hope you’re having a great week.

Come and check our weekly progress summary to stay tuned! After reading the summary, you can take a questionnaire and we will select 15 Degisons to win 40$DEG reward each!)

Highlight of this week

-Protocol Protection for Defrost Finance lived!

We are so excited to announce that Protocol Protection for Defrost Finance lived! Users can expect a reassuring experience by integrating our inspiring Protocol Protection into Defrost. We strongly believe through this collaboration, users will be able to position their capital efficiently and have some extra peace of mind. Altogether, we will create a safer Web3 environment!

If you want to buy protection for your assets in Defrost Finance, check https://degis.io/protocol_protection/protection

Other progress

· Twitter Space: an Twitter Space with Acumen about on how they are bridging TradFi and DeFi

What we’re doing now

Development team

· New product: the development team is continuously monitoring Protocol Protection to make sure it works smoothly for our users
· Degis website: the development team is optimizing the official website in a more user-friendly way

Marketing team

· Events: more AMAs in multi-language for everyone to have a deeper insight into Degis and our products
· Collaborations: more partnerships to cover every risk in the crypto world and make Web3 a safer place for everyone

What to expect next week

More products will be launched soon, stay tuned!

Weekly Hack Event

Loopring, the Ethernet Layer 2 protocol, said it was hit by a DDoS attack at 21:00 on November 4 (GMT+8). The DDoS attack only prevented the Loopring protocol from providing services to the public; it had no impact on the security of Loopring’s assets.

During the incident, RPS increased significantly and the Loopring gateway was unable to handle such a large volume of requests, rendering the service unavailable. on November 5 at 10:40, Loopring reconfigured domain access for the mobile app side and restored wallet services.

It was because of a critical vulnerability in Loopring’s frontend wallet, which allows anyone to gain control of every account created using it. The vulnerability arises because Loopring’s frontend wallet uses a 32-bit integer to derive each user’s private key. This would allow an attacker to reproduce all such private keys. We’ve demonstrated the vulnerability by recovering private keys for over a dozen accounts. This problem was communicated to Loopring, and it is acting quickly to address it.

If you want to know more about the technical part of the hack, check https://medium.com/loopring-protocol/loopring-exchange-frontend-password-bug-postmortem-cf55ce7e0150

Take the quiz, provide feedback and win rewards now!


Answers of last week:

The limited amount of bitcoins is 21million

You can enjoy 1.2 times more mining rate if you join in Initial Matching

You can use veDEG to take part in the voting period of Protocol Protection

Winner list of last week:
















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