Fintech PR
Web3 Security Firm Quantstamp Launches Novel Economic Exploit Analysis Service to Combat Flash Loan Attacks
SAN FRANCISCO, Aug. 23, 2023 /PRNewswire/ — Quantstamp, a global leader in blockchain security, is pleased to announce the launch of its novel service called Economic Exploit Analysis. This exclusive, first-of-its-kind offering allows Quantstamp to uncover flash loan attack vectors in smart contracts through automated tooling before protocols get hacked. The Economic Exploit Analysis service is powered by research from the University of Toronto that Quantstamp advanced and turned into a production-level tool.
In the first half of 2023 alone, an estimated $207M was stolen through flash loan attacks. A flash loan is an uncollateralized loan provided by a smart contract that can be taken out for as short as a single transaction. In these attacks, hackers leverage flash loans to borrow substantial funds and manipulate DeFi protocols into unexpected states that developers may not have anticipated. Flash loan attacks can drain the entire TVL (total value locked) of a DeFi protocol, and their complicated nature combined with DeFi’s composability means these attack vectors often evade conventional audits.
Seeing the dire need to prevent these attacks, Quantstamp collaborated with researchers from the University of Toronto to advance their research into a production-level automated tool. With the tool now fully developed, Quantstamp is unveiling a new service for DeFi clients called Economic Exploit Analysis, where the Quantstamp team uses the tool to detect flash loan attack vulnerabilities in a client’s code. Available for both deployed and undeployed protocols, this innovative service will vastly benefit the entire DeFi ecosystem by reducing the number of flash loan attacks and the amount of funds lost to those hacks.
Quantstamp believes that the Economic Exploit Analysis service will have a lasting impact on the DeFi ecosystem. Coupled with Quantstamp’s core business offering, smart contract audits, services such as Economic Exploit Analysis will foster a safer and more secure environment for both DeFi companies and their users, pushing the industry further toward mainstream adoption.
“DeFi has the potential to change the global financial infrastructure for the better, but its success requires preempting threats like flash loan attacks. We developed this tool to provide DeFi protocols an extra layer of security on top of audits,” said Martin Derka, Head of New Initiatives at Quantstamp. “As DeFi evolves, security measures need to evolve with it. Services like Economic Exploit Analysis give us an edge against hackers.”
While the search process of the tool is automated, some manual guidance and protocol-specific adaptations are required. In addition to checking clients’ contracts, auditors also incorporate contracts from the integrated and other relevant DeFi protocols, which enhances Quantstamp’s ability to discover flash loan attack vectors that involve multiple protocols. While the search tool is non-exhaustive, meaning that attacks may still exist even if the automated tool doesn’t detect them, its practical success rate is remarkably high. Currently available across all EVM-compatible chains, the Economic Exploit Analysis service has the potential to adapt the tool to other blockchains and VMs (virtual machines) suffering from similar attack vectors.
Quantstamp also offers security services including smart contract audits, ZK rollup audits, and more. Quantstamp is blockchain-agnostic, conducting audits for several other blockchains beyond Ethereum including Solana, Flow, Cardano, Avalanche, Binance Smart Chain, Near, Hedera Hashgraph, Tezos, Aptos, and Sui.
To learn more about Quantstamp’s Economic Exploit Analysis service, visit quantstamp.com/economic-exploits
About Quantstamp
Quantstamp is a global leader in blockchain security, on a mission to secure the future of web3. Founded in 2017, the team has honed their expertise through hundreds of audits and worked with some of the top projects in the industry including Maker, Compound, Polygon, Arbitrum, Sandbox, and many more. To date, Quantstamp has performed 600+ audits and secured over $200 billion in digital asset risk from hackers. In addition to providing an array of security services, Quantstamp facilitates the growth and longevity of the web3 space through strategic investments and acting as a trusted advisor to help projects scale. To learn more head to our website Quantstamp.com or follow us on Twitter @Quantstamp
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View original content:https://www.prnewswire.co.uk/news-releases/web3-security-firm-quantstamp-launches-novel-economic-exploit-analysis-service-to-combat-flash-loan-attacks-301907356.html
HAMILTON, Bermuda, Dec. 19, 2024 /PRNewswire/ — FXGiants has recently launched a series of exciting bonuses. Participants on the FXGiants‘ online trading platform can now amplify their trading potential with a broad spectrum of bonuses that are tailored to fit different trading needs. These bonuses not only add extra value but also act as a safety net for traders to explore the financial markets without risking too much.
“Our goal with these deposit bonus options is to empower traders of all levels,” said Christopher Oates, the spokesperson for FXGiants. “Under this scheme, we have diverse categories, including Bonus Maximiser, Booster Bonus, and the Bonus Advantage. These bonuses are designed to provide flexibility to clients as they trade on the FXGiants online trading platform.”
Exploring the FXGiants Bonus Options
The bonus options at FXGiants come with versatile advantages. The Bonus Maximiser provides a full 100% boost on all deposits without limit, whereas the Booster Bonus offers a 40% bonus on all deposits up to $4,000 for traders who want to moderately enhance their capital. On the other hand, the Bonus Advantage provides a 60% bonus on deposits up to $5,000, giving traders a better handle on risk. These bonuses enhance the trading experience on the FXGiants online trading platform.
“At FXGiants, we are committed to a trading environment that meets the evolving needs of our clients,” Oates added. “Our online trading platform is a robust ecosystem designed to support traders with advanced execution, extensive market insights, and continuous improvements. As we move forward, we will keep expanding our offerings to ensure that traders have access to the best resources and support.”
About FXGiants
FXGiants stands out as an international broker providing access to over 300 financial instruments across 6 asset classes. Traders can operate through the popular MetaTrader 4 platform, and benefit from exceptional trading conditions such as competitive spreads, flexible leverage, and fast execution. With deposit boosters, partnership programs, an educational blog, and account types tailored to both novice and experienced traders, FXGiants remains dedicated to delivering a one-stop trading solution.
Terms & Conditions apply. Bonus cannot be withdrawn.
All trading involves risk. It is possible to lose all your capital.
FXGiants is a trade name of Notesco Int Limited; a company incorporated in Anguilla with registration number A000001800 and registered address The Valley, AI2640, Cosely Drive, 1338, AI.
Website: https://www.fxgiants.com/
View original content:https://www.prnewswire.co.uk/news-releases/fxgiants-online-trading-platform-launches-bonus-initiative-to-reward-traders-302338463.html
BEIJING, Dec. 23, 2024 /PRNewswire/ — Cheung Kong Graduate School of Business (CKGSB) successfully hosted the Western China MBA Professor Training Program in collaboration with the China National MBA Education Supervisory Committee and Shantou University School of Business on December 17 and 18, 2024. 58 professors from over 40 universities in China nationwide, mostly western China, attended this training.
Since 2007, CKGSB has been aspiring to address the pressing disparities in management education between eastern and western China with its MBA professor training program. As of 2024, the program has trained 372 professors from 155 universities across 22 provinces, 4 autonomous regions, 3 direct-administered municipality in China, indirectly impacting tens of thousands of MBA students.
This year, the training focused on social innovation and business for good, a topic many participating professors found lacking in their day-to-day teaching and research. Professor ZHU Rui (Juliet), CKGSB Professor of Marketing and Director of the ESG and Social Innovation Center, led the training. She introduced how CKGSB has been innovating with the integration of business for good in management education, and how our relevant practice-based course has already helped 2,800+ students integrate ESG into their businesses. Professor Zhu also hosted an interactive workshop with the training’s participants on how they may build this idea into their teaching.
Participants shared in their post-program survey that Professor Zhu’s teaching and her ESG Assessment map gave them a new perspective on how to balance profits and social responsibilities. Many also felt inspired on how to bridge the gap between research and practice.
Recognized in CKGSB’s 2022 and 2024 ESG and Social Innovation Reports and honored as a finalist for the 2021 China Social Impact Award by the United Nations and British Chamber of Commerce, this program exemplifies CKGSB’s impact in this critical area. Through partnerships with the government, NGOs, and business schools, this initiative has made significant progress in promoting quality education and reducing inequalities.
For more information on CKGSB’s ESG and social innovation efforts, visit our ESG and social innovation website.
About CKGSB
Established in Beijing in November 2002, CKGSB is China’s first privately-funded and research-driven business school. The school aims to cultivate transformative business leaders with a global vision, sense of social responsibility, innovative mindset, and ability to lead with empathy and compassion (https://english.ckgsb.edu.cn).
View original content:https://www.prnewswire.co.uk/news-releases/ckgsb-successfully-hosts-2024-mba-professor-training-program-for-western-china-302338458.html
VADUZ, Liechtenstein, Dec. 23, 2024 /PRNewswire/ — Wirex, a global leader in bridging traditional and digital finance, has announced the addition of VNX Euro (VEUR) and VNX Swiss Franc (VCHF) to its platform. With this integration, Wirex users can now spend VEUR and VCHF directly through their Wirex cards, streamlining everyday transactions and enhancing convenience.
Wirex cards allow users to use VEUR and VCHF in various ways. Whether users receive payments in VEUR and/or VCHF, use them for remittances (including cross-border transactions), or sell digital assets for stablecoins instead of fiat, Wirex provides the simplest solution for spending in real life. Users can instantly convert their stablecoins into fiat currency and send them directly to their bank accounts, catering to those who prefer traditional banking options.
Pavel Matveev, Co-founder of Wirex, said: “We’re excited to welcome VNX Euro (VEUR) and VNX Swiss Franc (VCHF) to Wirex. This addition allows our users to effortlessly spend stablecoins in real life, whether for daily purchases, remittances, or managing their digital assets. At Wirex, our goal is to make digital currencies as convenient and versatile as traditional money, and VEUR and VCHF are another step toward achieving that vision.”
Future Features
Additional features will be rolled out later after the launch, complementing the immediate benefits of VEUR and VCHF. These include loans and high-yield X-Accounts, both of which are growing in popularity among Wirex users. Loans offer a smart and tax-efficient way to access liquidity without selling underlying digital assets. Users can leverage their BTC, ETH, SOL, and other digital assets, as collateral for loans in stablecoins, allowing them to benefit from potential appreciation while accessing funds without triggering taxable events.
X-Accounts provide an opportunity for users to earn industry-leading yields of up to 15% APY on their stablecoin balances, enhancing the overall value proposition of holding VEUR and VCHF within the Wirex ecosystem.
Upcoming Advanced Opportunities
VEUR and VCHF have the potential to become preferred options in Wirex’s advanced trading products, such as Wirex DUO and Wirex Multiply. Notably, Euro-backed stablecoins have already demonstrated significantly higher usage among Wirex users than larger USD alternatives, highlighting strong demand for Euro-denominated trading options.
As Wirex explores adding VEUR and VCHF to these products, it aims to further strengthen its position as a leader in digital finance by offering innovative solutions that bridge the gap between traditional finance and digital assets.
Disclaimer: The term “stablecoin” is used herein in relation to VEUR and VCHF for marketing purposes. The reader however shall understand that VEUR and VCHF are fiat-referenced tokens which are described in more detail in the VNX Gold based Fiat Referenced Tokens (FRT) Terms and Conditions which are available for review at www.vnx.li
About VEUR and VCHF
Both VEUR and VCHF are multichain tokens referencing the Euro and Swiss Franc, developed by VNX, generated by a licensed token generator under the Blockchain Act in Liechtenstein. VEUR and VCHF are supported by the reserves ensuring 1:1 parity and represent a reliable digital asset in the crypto world. These tokens combine the stability of fiat currencies with the convenience of crypto, enabling quick, low-cost, and 24/7 accessible cross-border payments while opening new opportunities in DeFi.
About Wirex
Wirex is a prominent UK-based digital payments platform with over 6 million customers spread across 130 countries. It offers secure accounts, making it easy for users to store, purchase, and exchange multiple currencies seamlessly. As a principal member of both Visa and Mastercard, Wirex goes beyond traditional services, embracing the evolving trends of Web3 to provide mainstream access to digital finance and wealth management. Having processed transactions totalling $20 billion, Wirex aims to contribute to the adoption of a cashless society by facilitating straightforward transactions in various currencies worldwide. Wirex is simplifying digital payments, making it more accessible and convenient for people across the globe.
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View original content:https://www.prnewswire.co.uk/news-releases/wirex-adds-veur-and-vchf-stablecoins-to-its-platform-for-seamless-spending-302338369.html
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