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Data shows Internet Computer (ICP) has recently managed to break into the top 5 of the development activity list. Here’s what this may mean.
Internet Computer Development Activity Has Surged Recently
According to data from the on-chain analytics firm Santiment, Hedera (HBR) has also entered into the top 5 during the same period. The “development activity” is a measure of the total amount of work that the developers of a cryptocurrency project are doing on the public GitHub page of said project.
This indicator keeps track of this work using units of “events,” where an event corresponds to any action made on the GitHub page, like pushing a commit or creating an issue.
The approach of using this method to gauge development activity is unique to Santiment’s metric, and the benefit of it is that it provides a more accurate representation of the actual work that the developers are getting done. If, for example, the indicator would simply use the total number of commits for this purpose, a true picture may not be obtained.
The reason behind that is any commits made on a project carry over to all its forks (clones) as well, meaning that if a developer who wasn’t on the original project forks it, all the work done there will also be counted under this new developer’s name, despite not being responsible for it. In Santiment’s development activity indicator, this is no longer a problem, as the entire action of forking counts as just one event.

Now, here is a table that shows the top 10 ranking of cryptocurrencies based on their development activity over the last 30 days:


As you can see above, the top 3 in this list is made up of Polkadot (DOT), Kusama (KSM), and Cardano (ADA). These three assets have been at the top for quite a while now, so it seems like their developers are continuing to put in the hard work.
There have been some changes down the list, however, as Hedera and Internet Computer are new entrants to the top 5, suggesting that their development activity has ramped up during the past month.
The significance of the development activity indicator is that it can provide hints about whether a project is being developed or not. If the developers of a coin are showing high commitment to it (by putting in the work on the GitHub page), it means that there is a lesser chance of the project being a short-term rug pull.

Obviously, the development activity isn’t the final authority on the topic or anything like that, but nonetheless, it can be one of the factors to take into consideration.
Internet Computer has registered some gains recently (ICP is up more than 18% during the past month), so its development activity ramping up along with the rise can be a positive sign for the long-term potential of this growth.
ICP Price
At the time of writing, Internet Computer is trading around $5.859, down 2% in the last week.





Data shows Internet Computer (ICP) has recently managed to break into the top 5 of the development activity list. Here&#8217;s what this may mean. Internet Computer Development Activity Has Surged Recently According to data from the on-chain analytics firm Santiment, Hedera (HBR) has also entered...

bitcoinist.com

Internet Computer (ICP) Is Now Top 5 In Dev Activity, What Does It Mean?


Hedera saw massive growth in Q1 2023, with transaction volumes growing 40 times. TVL also saw a sizable increase of 52%.



The Hedera network experienced a massive increase of 40x quarter-over-quarter in the first quarter of 2023, according to a Messari report published on April 30. 



Hedera Gathering Momentum



The total number of transactions actually grew by a factor of 40, with average daily transactions amounting to roughly 40 million.



The transaction volume growth was the standout metric in the report, though Hedera also showed impressive performance in other areas of growth. The number of average daily users grew by about 350% quarter-over-quarter, and the number of new accounts created increased by 170%.



Active and New Users on Hedera: Messari



There are several reasons why Hedera has been experiencing such substantial growth. The general ecosystem has been growing, with new DEXs and existing ones contributing to the network’s expansion.



TVL Also Sees Sizable Growth in Q1



The DeFi platforms on Hedera have also helped increase the total value locked into the network. This figure grew by 52% in the last quarter, with the launch of Pangolin DEX significantly contributing to the success. The TVL currently stands at about $36 million.



Hedera TVL Growth: Messari



However, NFTs and the web3 gaming niche on Hedera have not been experiencing the same level of growth. The average number of daily NFT users dropped by 33%, while NFT transactions saw little change either way.



Making Headlines in Q1 2023



The interest in Hedera could also stem from the fact that the network has seen improvements in other regards. The most notable is the fact that technology company Dell joined the Hedera Governing Council, adding to its stellar list of members.



Hedera was also recognized by the United States government for supporting human rights. It made a commitment to convene a democracy roundtable on how blockchain technology could support human rights, transparency, and sustainability. These developments have helped the HBAR token be one of the standout gainers in Q1 2023.



It’s not all been roses for the network, as it recently had to shut down network services as it was experiencing “network irregularities.” The team noted that attackers exploited a smart contract service code. The team identified the vulnerability and issued a patch.
The post Hedera Transaction Volume Blasts Off by 40x in Q1, Boosted by Pangolin DEX appeared first on BeInCrypto.


Hedera saw massive growth in Q1 2023, with transaction volumes growing 40 times. TVL also saw a sizable increase of 52% per a Messari report.
The post Hedera Transaction Volume Blasts Off by 40x in Q1, Boosted by Pangolin DEX appeared first on BeInCrypto.


beincrypto.com

Hedera Transaction Volume Blasts Off by 40x in Q1, Boosted by Pangolin DEX

The decentralized finance (DeFi) sector recorded massive losses in 2022. While many expected a different story in 2023, bad actors have continued their game of exploiting DeFi. Some days back, Hedera revealed a loss of liquidity pools tokens when a hacker exploited its mainnet smart contract code.

But the latest DeFi attack occurred on Euler Finance, another decentralized finance protocol. According to on-chain sleuths, the attacker may have gotten away with more than $180 million in tokens. 
Euler Finance Loses Millions in Assets 
Certik Alert reported the incident on Twitter, revealing that the bad actors have stolen 41 million DAI and still counting. It went further to warn users to be alert as the exploit was still ongoing at the time of the tweet. 
After a few hours, Certik Alert updated that the hacker had stolen over $195 million from Euler Finance. It revealed that the assets comprise 96,800 ETH and 43.6 million DAI stablecoins, concluding that this was the largest exploit in 2023 so far.

Lookonchain also posted the attack revealing that the hackers have stolen massive DAI stablecoins and Ethereum tokens. 
Notably, CertiK Alert disclosed that the bad actors transferred 101 ETH tokens to 0xc66 before depositing them to TornadoCash. This crypto mixer masks the movement of assets by mixing them with others before sending them to a final destination. 
Etherescan data shows that the hackers sent the Euler Finance funds to two new wallets. One wallet has 34,186,225 DAIs and 88,752 ETHs, while the other holds more than 88,77,507 DAI tokens. 
On-chain sleuth ZachXBT thinks the bad actors are black hat hackers exploiting protocols on Binance Smart Chain some weeks back. 
Security Firm and Law Enforcement teams Up To Fix Exploit 
In response, the Euler Finance team has assured users of working to stop the exploit. The firm revealed that it had brought law enforcement and security professionals to the matter and will update the community soon. 
Notably, the security firm PeckShield alerted Euler Finance of the incident inviting them to work together and resolve it. Later, the security firm announced it had discovered the exploit’s root cause.

Meanwhile, the decentralized finance sector had recorded an exploit that led to a loss above $8.5 million. The incident occurred last month on Platypus, another decentralized finance protocol behind a stablecoin USP. The incident caused a 50% depeg of USP from USD.
The DeFi protocol announced the incident on Twitter, disclosing how the bad actors exploited a flaw in its USP solvency check. 
The team made several efforts to fight the incident, such as alerting Binance, Circle, and Tether to freeze the hacker’s funds and negotiating a bounty.
Featured image from Pixabay and chart from Tradingview


The decentralized finance (DeFi) sector recorded massive losses in 2022. While many expected a different story in 2023, bad actors have continued their game of exploiting DeFi. Some days back, Hedera revealed a loss of liquidity pools tokens when a hacker exploited its mainnet smart contract code...

Flash Loan Attack Drains $180 Million From Euler Finance

Layer-1 blockchain Hedera (HBAR) had to pause normal activity this week due to a hack on its smart contract service code.
The Ethereum (ETH) competitor acknowledged the exploit in a tweet on Thursday.

“Today, attackers exploited the Smart Contract Service code of the Hedera mainnet to transfer Hedera Token Service tokens held by victims’ accounts to their own account. 
The attacker targeted accounts used as liquidity pools on multiple DEXs that use Uniswap v2-derived contract code ported over to use the Hedera Token Service, including Pangolin Hedera, SaucerSwap Labs and HeliSwap DEX. 
When the attackers moved tokens obtained through these attacks over the Hashport Network bridge, the bridge operators detected the activity and took swift action to disable it.”
Hedera says it turned off mainnet proxies to remove the hacker’s access to the mainnet and prevent them from stealing additional tokens.
On Friday evening, Hedera’s chief marketing officer Christain Hasker announced Hedera was back online.

Aaaaaand we're back! https://t.co/sUahtuSoA4 – thank you all so much @hedera community. Blog post incoming.
— Christian Hasker (@chasker) March 11, 2023

Total value locked (TVL) on Hedera plummeted from around $36.81 million prior to the hack to $24.57 million on Friday afternoon, a more than 33% decrease, according to Defi Llama.
The TVL of a blockchain represents the total capital held within its smart contracts. TVL is calculated by multiplying the amount of collateral locked into the network by the current value of the assets.
HBAR, Hedera’s native asset, is trading around $0.0594 at time of writing, which is roughly equivalent to what it was priced at prior to the exploit.
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Generated Image: Midjourney
The post Hackers Exploit Ethereum (ETH) Rival, Normal Activity Paused To Prevent Theft of More Tokens appeared first on The Daily Hodl.


Layer-1 blockchain Hedera (HBAR) had to pause normal activity this week due to a hack on its smart contract service code. The Ethereum (ETH) competitor acknowledged the exploit in a tweet on Thursday. &#8220;Today, attackers exploited the Smart Contract Service code of the Hedera mainnet to trans...

dailyhodl.com

Hackers Exploit Ethereum (ETH) Rival, Normal Activity Paused To Prevent Theft of More Tokens

In a Twitter announcement, Hedera confirmed an exploit in its mainnet, leading to a loss of liquidity tokens. However, the firm noted the exploit did not impact its consensus layer.
Network exploitation is among the challenges of many crypto projects, with DeFi protocols recording the highest hack incidents since 2021. The latest exploit is that of Hedera, a decentralized, open-source, proof-of-stake public ledger.

Hedera Discloses Details of Mainnet Exploit
Hadera is the firm behind distributed ledger Hedera Hashgraph. In the latest hack, the attackers exploited the Smart Contract service code of its mainnet and transferred service tokens from user accounts to their accounts.
The hackers targeted liquidity pool accounts on multiple decentralized exchanges (DEXs) that use Uniswap V2-derived contract codes, including Pangolin Hedera, SaucerSwap Labs, and HeliSwap DEX. The announcement explained that the criminals moved the stolen tokens to the Hshport Network Bridge. However, the bridge operators detected the unusual activity and took swift action to disable it.

Hedera further noted that it worked with the community, including HBAR Foundation, Swirlds Labs, Pangolin Hedera, Lime Chain HQ, SaucerSwap Labs, and HeliSwap DEX, to investigate the attack. The firm also employed measures to prevent hackers from stealing more tokens. On March 9, the network turned off mainnet proxies, restricting access to the network. 
Hedera’s announcement also revealed that the team identified the root cause of the attack and is working to provide a solution. When they find a solution, Council members will sign transactions to authorize a new code deployment on the mainnet to remove the vulnerability. 
The protocol noted that the mainnet proxies would come on after eliminating the problem, allowing usual activities to resume on the network.
Recent Hack Incident Dents Hedera Network’s Milestone
While explaining the method used by the hackers and the possible solutions to the issue, Hedera failed to disclose the number of tokens the hackers stole. As a Twitter user commented, the blockchain appeared very secure, but the recent attack revealed the opposite.
The network previously upgraded its network to convert Ethereum Virtual Machine (EVM) compatible Smart Contract code to the Hedera Token Service (HTS). This process partly involves decompiling Ethereum contract bytecode to the HTS, where the Hedera-based DEX SaucerSwap thinks the hack vector emanated. But the Twitter post did not confirm the source of the vulnerability.

After turning off the network proxies, the Hedera team suggested that token holders check the balances on their account and EVM address on hashscan.io to ensure funds are intact.
Meanwhile, the HBAR price has declined 8.5% over the past 24 hours and trades at $0.05721. The price decline is not just due to the latest attack but also the ongoing market-wide downturn. 
However, the total value locked on SaucerSwap dropped by 30%, falling from $20.7 million to $14.58 million over the last 24 hours.
The decline in total value locked suggests many token holders quickly withdrew their funds after the initial discussion regarding a potential hack exploit. The incident has dented the blockchain’s recent milestone after its mainnet hit 5 billion transactions.
Featured image from Pixabay and chart from Tradingview.com


In a Twitter announcement, Hedera confirmed an exploit in its mainnet, leading to a loss of liquidity tokens. However, the firm noted the exploit did not impact its consensus layer. Network exploitation is among the challenges of many crypto projects, with DeFi protocols recording the highest hac...

Hedera price	$0.050989
Low - High 24H	$0.050531 - $0.051125
Market cap	$1.61B
Volume 24H	$14.84M
All time high	$0.569229 -91.05% September 15th 2021
All time low	$0.009861 416.88% January 2nd 2020
Genesis date	N/A

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