ParaSpace Partners with BlockSecTeam Over Protocol Exploits
According to reports, ParaSpace announced on social media that the team has worked with the BlockSecTeam to determine the reasons for the earlier exploits of the ParaSpace protocol. Currently, all user funds and assets on ParaSpace are secure, without NFT being damaged, and the economic loss of the protocol is minimal. Due to the rapid action taken by the BlockSecTeam, the 2909 ETHs that the user attempted to extract from the agreement were promptly saved.
ParaSpace: User assets are secure and there is no NFT damage. Currently, we are working to fix the vulnerability
Analysis based on this information:
ParaSpace, a blockchain protocol that enables the seamless transfer of ERC-20 and ERC-721 tokens, recently made it known that it had partnered with BlockSecTeam to unravel the causes of earlier exploits on its platform. In a statement released on their social media pages, ParaSpace confirmed that thanks to the prompt response of the BlockSecTeam, all user funds and assets on its platform are safe and intact. Furthermore, the economic loss incurred during the exploits is minimal.
This announcement brings a sense of relief to users of ParaSpace who may have been worried about the safety of their funds on the platform. By partnering with BlockSecTeam, ParaSpace has demonstrated its commitment to ensuring the safety and security of its users’ assets. BlockSecTeam is renowned as a reputable blockchain security company that has been instrumental in preventing hacks and other attacks on blockchain and cryptocurrency platforms.
The exploits on ParaSpace’s protocol may have been a significant opportunity for hackers to abscond with a considerable amount of funds. However, the swift intervention of the BlockSecTeam ensured that the 2909 ETHs that the user attempted to siphon from the platform were saved. This highlights the importance of having robust security measures in place when dealing with blockchain protocols.
ParaSpace is a blockchain platform that offers a low-cost and decentralized way for the transfer of ERC-20 and ERC-721 tokens. The protocol is vital for peer-to-peer transactions, and it has been growing in popularity since its launch. Its partnership with BlockSecTeam ensures that the protocol remains a safe and secure way for users to transfer ERC-20 and ERC-721 tokens.
In conclusion, ParaSpace’s partnership with BlockSecTeam to unravel the causes of earlier exploits on its protocol, and to ensure the safety of its users’ assets, is a positive development that shows the commitment of blockchain platforms to maintaining the highest levels of security. This announcement will undoubtedly boost the confidence of users in ParaSpace, and hopefully, more blockchain platforms will follow suit in taking proactive steps toward enhancing their security frameworks.
Overall, the three keywords that summarize this message are: ParaSpace, BlockSecTeam, and Protocol Exploits.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/6325/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
Blur Announces Delay in New Product Release and Extension of Incentives
On March 28th, according to the NFT market, Blur announced on Twitter that the new product originally planned to be released on April 1st will require more time to build, so it wil
-
Wintermute gets 30 million Blur tokens in a day
On February 14, Etherscan data showed that Wintermute, a cryptocurrency market maker, had received 30 million Blur tokens twice today, 15 million at a time.<br…
-
What does it mean when Bitcoin is dumped (Bitcoin falls 17.83% and faces a large sell-off)
What does it mean when Bitcoin is dumped? On November 30, 2019, many people sold
-
Voyager and Kasar Labs announce partnership to integrate with starkcet.com
On April 29th, Voyager, a Starknet blockchain browser, tweeted that it had reached a partnership with Kasar Labs, a Starknet engineering and research laboratory, and integrated wit
-
What is the use of btc private key
btc private key What to use Bitcoin Cash cash (Btc) What is it? What is the use of the btcei private key, what is the purpose of the btc key, and how to use it; What is the principle of Bitcoin transaction and transfer records. Bitcoin Cash is open and transparent on the Bitcoin network, and no one can change or modify it. Bitcoin Cash is considered a secure Cryptocurrency – a digital signature tool that allows users to store their encrypted information and send it to an external wallet without the permission of an intermediary. But if someone controls this data, they cannot recover the password. (bitcoinist. com)
-
ArkInvest’s Layer2 Platform and Ethereum’s Euler Upgrade Could Benefit from the Federal Reserve Interest Rate Decision
12:00-21:00 Key words: ArkInvest, Layer2, Euler, Federal Reserve interest rate Overview of important developments in the evening of March 18th Analysis based on this information:ArkInvest’s Layer2 platform is poised to benefit from the recent Federal Reserve interest rate decision, along with Ethereum’s next upgrade which is called Euler. Throughout history, the Federal Reserve’s decisions have significantly impacted the economy, particularly the financial markets. Most notably, a change in interest rates can greatly affect bond yields, lending rates, currency valuations, and investor behavior. Currently, with the US economy recovering from the COVID-19 pandemic, the Federal Reserve has maintained its interest rates at near-zero levels to promote borrowing and stimulate economic activity. On the other hand, ArkInvest, the fast-growing investment management firm, has been making waves in the cryptocurrency space with its Layer2 platform. This platform aims to improve the scalability and efficiency of Ethereum, which has struggled with high fees and slow transaction times due to its current infrastructure. Layer2 enables…
-
What is Java Blockchain (Introduction to Blockchain Java Programming)
what is a java blockchain According to official news, recently the blockchain system “JavaBlockchain” (JBA for short) developed by American information technology company ConsenSys was officially launched in Ethereum. The project aims to solve the problems of Ethereum’s low network performance, large waste of resources and slow transaction speed According to the official website, “Java Blockchain” is an application platform for deploying smart contracts, which can provide secure and reliable data services and a decentralized security environment for various applications. Currently, dozens of large enterprises worldwide, including Apple, have used this underlying platform Introduction to Blockchain Java ProgrammingEditor’s Note: This article is from Zhimi University, authored by Liu Changyong, and reprinted with authorization by Daily Planet Daily As one of the representative applications of a new Distributed database technology, blockchain technology has been adopted by many companies and projects. Internet giants including IBM, Google and others have expressed optimism about the future of Cryptocurrency and predicted this development trend. On…
-
Treasure DAO Launches Game Studio for Smoolverse
According to the official news, the Treasure DAO launched the game studio Darkbright, which will be responsible for the development of the game of Smoolverse N…
-
Western Bank of Alains and PacWest Bancorp cause surge in trading
According to reports, the Western Bank of Alains rose 53%, triggering the suspension of trading. PacWest Bancorp triggered the circuit breaker, up 64.31%. Aries West Bank rose 53% PacWest Bancorp triggered circuit breaker Analysis based on this information:
-
Binance Launches Arbitrum (ARB) Early – What This Means for Crypto Investors
On March 23rd, Binance announced that the platform would be launched early at Arbitrum (ARB). The launch time originally scheduled for 01:00 on March 24th, Beijing time, was advanc
-
Angle Protocol Issues Post-Hacker Attack Protocol Overview
On March 15th, it was reported that the decentralized stable currency protocol, Angle Protocol, had prepared a detailed overview of the post Euler Finance hacker attack protocol based on the information on the chain. Among them, the affected USDCs were approximately $17.52 million, and the total value of the tokens held by the DAO (including agEUR) was approximately $19.59 million. The team is closely monitoring the situation and working with the authorities to provide all assistance it can provide to investigate the hacker attack, The update will be shared as soon as it is received. Angle Protocol: The USDC affected by hacker attacks is approximately $17.52 million, and the DAO still holds nearly $20 million in tokens Analysis based on this information:Angle Protocol, a decentralized stable currency protocol, recently released an overview of the post Euler Finance hacker attack protocol, which was based on the information extracted from the blockchain. The attack had a significant impact on the company, with…
-
Civilization Kit: Paxful Co-Founder Ray Youssef Plans to launch a new P2P Trading Platform
On April 5th, it was announced that after Paxful announced the suspension of operations in the Bitcoin peer-to-peer trading market, Paxful co founder Ray Youssef plans to launch a
-
Introduction
According to reports, the UK Treasury said in a tweet on Tuesday that cryptocurrency promotion legislation is expected to take effect later this year. The draft Financial Services
-
Cryptocurrency Prospects Strengthened Amidst US Banking Industry Turmoil
According to reports, Coinbase stated in a report that after the recent turmoil in the US banking industry, the medium to long-term prospects of the cryptocurrency market have been
-
Coin Choice Allows Non GasToken Payments for Gas Fees – Here’s What You Need to Know
On April 25th, it was announced that Coin Choice, an extension tool based on MetaMask, was launched, which supports the use of non GasTokens (such as USDC) to pay gas fees for diff
-
Social Future, a social metaverse company, completed a $6 million financing
On April 6th, Social Future, a social metaverse company based on artificial intelligence, announced the completion of a $6 million financing, with SNZ, Everest Venture Group, Foliu