Chainlink continues to expand its ecosystem with 12 new integrations across 11 blockchains, including Optimism and Astar Network. Analysts like Henry Lord of Alts predict a bullish breakout for LINK, potentially reaching $30, as the token shows signs of accumulation after months of downtrend. The network’s recent partnership with Mastercard aims to bring crypto access to over 3 billion cardholders, supported by industry leaders like Swapper Finance and Zerohash. Chainlink’s decentralized oracles are now critical for major blockchains like Ethereum, Solana, and Arbitrum, powering DeFi protocols, prediction markets, and cross-chain interoperability. With trading volume up 64% and a market cap of $9 billion, Chainlink’s latest integrations further solidify its role in DeFi, climate tech, and digital assets.
about Chainlink Surges with 12 New Integrations & $30 Price TargetEuler Finance
0 in Finance and 0 in Crypto last week$4.6B Lost to Crypto Scams in 2024: AI Deepfakes Surge
A collaborative report by Bitget, SlowMist, and Elliptic highlights a 24% increase in crypto scams in 2024, totaling $4.6 billion in losses. Deepfake AI impersonations, social engineering schemes, and modern Ponzi scams are the top threats, with nearly 40% of high-value frauds involving AI-generated videos of public figures like Elon Musk. Scammers are also exploiting KYC procedures, forging customer service interactions, and using fake platform dashboards. Social engineering tactics include AI-powered arbitrage bot scams and phishing links, while modern Ponzi schemes disguise themselves as legitimate DeFi, NFT, or GameFi projects. The report cites the JPEX scandal in Hong Kong, where $213 million was lost, and exposes rug pulls like Leaper Finance. To combat this, Bitget and partners launched an Anti-Scam Hub and a $300 million protection fund to trace illicit funds and disrupt phishing networks.
about $4.6B Lost to Crypto Scams in 2024: AI Deepfakes SurgeChainlink Oracle Glitch Causes $500K DeFi Liquidations
On May 29, a Chainlink oracle allegedly malfunctioned, reporting the deUSD stablecoin’s value at $1.03 instead of its intended $1 peg. This error caused over $500,000 in liquidations for users on Avalanche’s Euler Finance, particularly impacting those leveraging the high-yield asset. The incident has sparked criticism from industry figures like Chaos Labs’ Omer Goldberg, who questioned Chainlink’s reliance on APIs like CoinGecko for stablecoin pricing. Chainlink’s Community Liaison, Zack Rynes, defended the oracle, stating it accurately reflected market activity and that protocols must interpret the data. Meanwhile, Aave Chan Initiative’s Marc Zeller blamed protocols for treating volatile assets as mature collateral, asserting Chainlink performed as intended.
about Chainlink Oracle Glitch Causes $500K DeFi LiquidationsBrahma Launches Dynamic Imprint NFT for Onchain Rewards
Brahma has launched the Imprint NFT, a first-of-its-kind dynamic NFT that evolves with users’ onchain behavior. Minted on Berachain at no cost, the Imprint NFT captures cross-chain activity, leveling up based on engagement and unlocking tiered rewards. The NFT tracks three core traits: Level, Arc (dominant interaction type), and Tribe (primary asset exposure). Users must regularly engage in DeFi actions like lending and swapping to maintain their NFT’s health. The Imprint NFT is non-transferable initially but can later be bridged to networks like Base and BNB Chain as a permanent record. Brahma aims to set a new standard for onchain rewards, emphasizing transparency and consistent participation. The launch highlights Brahma’s focus on active users and community-driven incentives, with partnerships including Monad, Euler Finance, and more.
about Brahma Launches Dynamic Imprint NFT for Onchain RewardsWorldcoin’s Orb Mini Sparks Crypto Twitter Backlash
Worldcoin’s Orb Mini, designed for portable human verification, has been met with mockery and skepticism on Crypto Twitter. Critics, including Alicia Katz from Euler Finance, have dismissed its utility, highlighting the absurdity of needing a device to verify human presence. The backlash underscores growing concerns over privacy and the ethical implications of such technology in the crypto space.
about Worldcoin's Orb Mini Sparks Crypto Twitter Backlash