Cyvers in the News

No Country For Young Fintechs: The U.K.’s Debanking Of Crypto Blockchain And Web3

‍A survey of U.K. fintech and crypto firms found that 50 percent of the firms surveyed have been rejected from opening a bank account or had an account closed by a major U.K. bank. Only 14 percent managed to successfully apply for a bank account with one of "the CMA 9” - the nine biggest mainstream banks in the U.K. - without it being closed at a later date.

DeFi Protocol Grand Base Hacked: Over $2 Million Lost

^{Analysts at AI Web3 security firm Cyvers told BeInCrypto the criticality of the situation}. They noted that the attacker’s ability to mint new tokens magnified the financial damage and exposed severe security flaws.

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“The compromised deployer’s wallet losing access control raises concerns, emphasizing the urgency for heightened security protocols and vigilant monitoring to safeguard against such devastating losses in the future,” analysts at Cyvers emphasized.

This DeFi Altcoin Is Under Heavy Attack: Price Resets!

^{Blockchain security firm Cyvers shared some explanations on the matter}. Accordingly, the hacker managed to access the wallet of the Grand Base distributor. Thus, it initiated asset transactions, leading to a dramatic sale of assets worth around $2 million. This action led to a loss of more than 99% in the GB token value of the DeFi altcoin project.