DeFi season is here, but it's off to a bumpy start

  • Decentralised finance (DeFi) projects are pumping hard — a little too hard for some to handle, like Solana and Ethereum-backed Arbirtum One.

  • The Solana blockchain network was down for hours after seeing 400,000 transactions per second.
  • The system has since been rebooted but it’s gonna be a while before applications and other systems based on Solana are back to full functionality.
  • A surge in transactions caused the Ethereum-backed Arbitrum One network’s sequencer to go offline for 45 minutes.

  • Meanwhile, hackers were trying to breach the Ethereum blockchain — albeit, unsuccessfully.

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The police said it was the largest cryptocurrency seizure in the country’s history.6

The police said it was the largest cryptocurrency seizure in the country’s history.7

The police said it was the largest cryptocurrency seizure in the country’s history.8