Leading Web3 infrastructure provider, Chainstack, has introduced its DeFi API, a solution designed to simplify access to real-time decentralized finance data. This API empowers developers with seamless access to real-time data from major decentralized finance protocols, including Uniswap, Lido, Aave, Compound, PancakeSwap, SushiSwap, and more. The DeFi API eliminates the need for developers to create custom indexers, manage databases, handle archival node requests, or address chain reorganizations. Instead, developers can leverage a readily accessible API through GraphQL.

Crypto Hacks Double in Q3, Reaching $720 Million in Losses

Blockchain security firm Hacken has released a report revealing a surge in crypto security breaches during the third quarter, resulting in losses of $720 million. This figure marks a significant increase compared to the second quarter, during which 131 hacks led to losses of $327 million. Access control attacks were found to be the most damaging, with rug pulls being the most frequent type of breach. Notably, over 90% of the breaches occurred in projects without verified audits, emphasizing the importance of security measures in the crypto space.

Deutsche Bank and Standard Chartered Ventures Test SWIFT Alternative for Stablecoins and CBDCs

Deutsche Bank and Standard Chartered’s SC Ventures are conducting tests on a system that aims to enable blockchain-based transactions, stablecoins, and central bank digital currencies (CBDCs) to interact seamlessly. This system takes inspiration from the SWIFT messaging layer used in traditional banking infrastructure. The tests involve transferring and swapping USDC stablecoins on the Universal Digital Payments Network (UDPN), a permissioned blockchain system managed by a consortium of banks, financial institutions, and consultancies. Created by tech consultancy GFT Group and Red Date Technology, a co-founder of the Chinese Blockchain-Based Service Network (BSN), this system facilitates transactions across various networks, from public blockchain stablecoins to CBDCs.

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