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Cross-chain lending protocol Radiant Capital has suspended its lending markets. The report states that Radiant Capital has received reports of a $4.5 million hack that affected one of the new USD Coin (USDC) markets. Today, we received a report of an issue with the newly created native USDC market on Arbitrum. After validation by Radiant developers and the wider Web 3 security community, the Radiant DAO Council paused lending/borrowing markets on Arbitrum temporarily while this is… — Radiant Capital (@RDNTCapital) January 3, 2024 Blockchain security platform Beosin linked the attack to using instant credit with the attack er taking advantage of a “rounding problem” in the code base, “which led to a cumulative accuracy error.” As a result, the attack er made a profit through repeated deposits and withdrawals of assets. “The attack er manipulated the index parameter (which later served as a denominator) to become extremely large. The contract has a rounding issue in its c...

Asia is home to 1.7 billion gamers and contributes over $72 billion in annual gaming revenue making it a critical market according to DappRadar. Asia is “crucial” to the Web3 gaming industry as it already boasts the majority share of gamers, gaming revenue and has a high interest in blockchain technology a new report suggests. An April 13 report from analytics platform DappRadar emphasized the Asian market has over 1.7 billion video game players accounting for 55% of the world’s gamers. It also houses over half of the global gaming revenue and has long been “the driving force” behind the global gaming industry according to the report. Market share of global gamers data revealed. Source : DappRadar Due to these factors, DappRadar claims the Asia region “plays a crucial role in the adoption of blockchain gaming.” China, Japan, and South Korea dominate the gaming industry in Asia and are home to 62 of the world’s top 100 gaming companies by market capitalization. China has banned crypt...