1-Analysts caution that cryptocurrency's fixation on on-chain security allows off-chain errors to cost billions
In the cryptocurrency industry, a low-key change to a smart contract might destroy months' worth of security effort. However, according to experts working for the blockchain forensics firm Hacken, the industry continues to see audits as branding tools rather than the breathing checkups that they should be.
In an exclusive interview with crypto.news, Dyma Budorin, CEO of Hacken in, stated that audits "shouldn't be treated as a checkbox or a logo on your homepage." His statement was made in reference to audits. It is his opinion that an excessive number of projects rely on a static snapshot of their code and then call it a day afterwards. It is possible that the audit will no longer be relevant once the code has been modified, which is a common occurrence. He cautioned that "the moment a contract is changed, every audit becomes unnecessary and obsolete."
The problem is not just that there are not enough audits; there are also not enough mechanisms that monitor code after it has been deployed. As a result of the absence of continual validation and re-audits, Hacken contends that teams may be made to believe that they are safe when in fact they are not.
2-Russia takes action to seize cryptocurrency as a new bill declares Bitcoin to be property
In the cryptocurrency industry, a low-key change to a smart contract might destroy months' worth of security effort. However, according to experts working for the blockchain forensics firm Hacken, the industry continues to see audits as branding tools rather than the breathing checkups that they should be.
In an exclusive interview with crypto.news, Dyma Budorin, CEO of Hacken in, stated that audits "shouldn't be treated as a checkbox or a logo on your homepage." His statement was made in reference to audits. It is his opinion that an excessive number of projects rely on a static snapshot of their code and then call it a day afterwards. It is possible that the audit will no longer be relevant once the code has been modified, which is a common occurrence. He cautioned that "the moment a contract is changed, every audit becomes unnecessary and obsolete."
The problem is not just that there are not enough audits; there are also not enough mechanisms that monitor code after it has been deployed. As a result of the absence of continual validation and re-audits, Hacken contends that teams may be made to believe that they are safe when in fact they are not.
3-VanEck's new fund focuses on practical applications in the Avalanche ecosystem
In a press statement that was distributed to crypto.news, the asset management with headquarters in New York stated that the fund will provide support for venture-backed cryptocurrency projects and liquid tokens in many different industries, including gaming, payments, artificial intelligence, and financial services, primarily around or after a token generation event. Tokenized money market funds are one example of the Avalanche-native real-world asset products that will be utilized by the fund in order to deploy idle capital on the blockchain.
The portfolio manager of the VanEck Digital Assets Alpha Fund, Pranav Kanade, stated that the fund will not chase hype or short-term trends because the next wave of value in cryptocurrency will come from genuine businesses, not more infrastructure.
The team that is responsible for managing the VanEck Digital Assets Alpha Fund, which was established in 2022 and currently controlled assets worth more than one hundred million dollars, will be in charge of managing the new vehicle.
Grayscale recently submitted a request to convert its Avalanche Trust, which was initially made available to investors in August 2024, into a spot exchange-traded fund. This announcement comes in the midst of increased institutional interest in Avalanche. Late in the month of March, the company submitted a 19b-4 filing to Nasdaq in order to list the fund and provide regulated exposure to AVAX; however, the SEC must still give its clearance for the scheme to be implemented.
References
https://crypto-news.translate.goog/cryptos-obsession-with-on-chain-security-lets-off-chain-mistakes-cost-billions-analysts-warn/?_x_tr_sl=en&_x_tr_tl=tr&_x_tr_hl=tr&_x_tr_pto=tc&_x_tr_hist=true
https://crypto-news.translate.goog/russia-moves-to-seize-crypto-new-bill-classifies-bitcoin-as-property/?_x_tr_sl=en&_x_tr_tl=tr&_x_tr_hl=tr&_x_tr_pto=tc&_x_tr_hist=true
https://crypto-news.translate.goog/vanecks-new-fund-targets-real-world-utility-in-avalanche-ecosystem/?_x_tr_sl=en&_x_tr_tl=tr&_x_tr_hl=tr&_x_tr_pto=tc&_x_tr_hist=true
