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Sunday, December 4, 2022

Experts Weigh In On The Ethereum Vulnerabilities Following Its Merge

Except for a few tokens that have experienced double-digit growth, most of the top 100 DeFi tokens like Ethereum traded in the red during the previous week.

Welcome to Finance Reinvented, your weekly source for crucial decentralized finance (DeFi) information. This newsletter showed you the most important events from the previous week.

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The Ethereum Merge has been at the core of significant changes in the DeFi ecosystem during the past week.

Before the Merge, the Aave (AAVE) community advocated temporarily prohibiting Ether (ETH) lending due to the possibility that heavy ETH use could make liquidations difficult or impossible and cause annual percentage yields (APYs) to drop below zero. The Ether network’s potential censorship vulnerabilities following its conversion to a proof-of-stake (PoS) blockchain were discussed by an industry expert.

Experts Weights In The Ethereum Vulnerabilities Following Its Merge: 

Ahead of the Ether Merge developments, several other significant events that generated news coverage were Babylon Finance’s eventual closure following months of attempting to regain momentum after the Rari Fuse hack. The DeFi platforms have been the target of $1.6 billion in exploits in 2022, according to a new warning from the US Federal Bureau of Investigation (FBI) for investors in those platforms.

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Except for a few tokens that have experienced double-digit growth, most of the top 100 DeFi tokens traded in the red during the previous week.

According to Ether community member and entrepreneur Ryan Berckmans, the network will overcome censorship issues in the near and long term.

Many have questioned whether Ethereum transactions could also be subject to censorship in the wake of the United States government’s earlier decision to ban the Ethereum-based privacy tool Tornado Cash. This is especially true in light of Ethereum’s impending switch to a proof-of-stake system.

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