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Crypto lender Polter Finance halts operations after $12M hack

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Polter Finance, a decentralized finance (DeFi) protocol, is grappling with the aftermath of a $12 million hack that occurred earlier this week, compromising the platform’s smart contracts. The exploit, which targeted vulnerabilities in the system, has led to the theft of a significant portion of user funds, with the team confirming the breach in a statement on their official channels. Following the attack, the project has vowed to work closely with security experts and law enforcement to track down the perpetrators and recover the stolen assets.

The hack exploited a flaw in the platform’s liquidity pools, enabling the attacker to siphon off funds from several user wallets. Polter Finance has since paused all operations and is conducting a full audit of its systems to identify additional weaknesses that may have been overlooked during previous security assessments. The team has reassured users that they are taking every step to address the issue, including offering a reward for information that could lead to the identification of the hacker.

In response to the breach, Polter Finance has promised to compensate affected users, though details on the recovery process remain unclear. The project has expressed its commitment to restoring trust within the community and mitigating the impact of the incident. However, experts have raised concerns about the broader implications for DeFi protocols, noting that the continued rise of smart contract exploits highlights the need for more stringent security measures across the industry.

The hack has once again spotlighted the vulnerabilities that persist within the DeFi space, with many projects struggling to secure their platforms against increasingly sophisticated attacks. Polter Finance is now under pressure to not only recover the stolen funds but also to implement robust security improvements to prevent similar incidents in the future. The outcome of this attack could have lasting consequences for both the project and the broader DeFi ecosystem, with users and investors closely monitoring the situation for further developments.

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Binance launches in Syria after Trump lifts sanctions

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Binance has signaled interest in expanding its services to Syria following a recent move by former U.S. President Donald Trump to lift certain economic sanctions. The easing of restrictions has opened the door for global businesses, including cryptocurrency platforms, to re-evaluate their presence in the region.

A Binance spokesperson confirmed that the company is exploring opportunities in Syria and may extend support to local users. The development marks a potential shift in crypto accessibility for a country that has long faced economic isolation due to international sanctions.

Although no formal launch has been announced, the move suggests that Binance is preparing to tap into an underserved market. The company emphasized that it will continue to monitor regulatory guidelines while assessing how best to engage Syrian users within legal frameworks.

The renewed interest in Syria reflects broader efforts by crypto firms to expand globally amid shifting geopolitical and regulatory dynamics. If Binance proceeds, it could become one of the first major crypto platforms to reenter the Syrian market in years.

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GameStop plunges 12% after proposing new $1.75B debt offering

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GameStop’s stock dropped 11% after the company revealed plans to offer $2.14 billion in convertible notes, sparking investor concerns about potential dilution. The market reacted sharply to the move, which could lead to an increased share count if noteholders opt to convert their holdings into equity.

The company stated that the proceeds will be used for general corporate purposes, which may include acquisitions and investments. Convertible notes provide flexibility for companies, but often trigger negative investor sentiment due to the future possibility of share dilution.

The timing of the announcement came just as GameStop was enjoying renewed attention from retail investors, particularly following the reappearance of “Roaring Kitty,” a central figure in the 2021 meme stock frenzy. That momentum was quickly undercut by fears surrounding the fundraising effort.

GameStop’s latest financial strategy highlights its continued attempts to adapt and remain relevant in a changing retail landscape. However, the negative market reaction reflects ongoing uncertainty over the company’s ability to convert hype into sustained performance.

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Peaq and UAE bet on tokenized machines to power future economy

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The United Arab Emirates has introduced a new regulatory sandbox dedicated to advancing the machine economy, in collaboration with blockchain network peaq and Web3 data platform Pulsar. The initiative is backed by the country’s Artificial Intelligence, Digital Economy and Remote Work Applications Office and is aimed at supporting decentralized physical infrastructure networks (DePINs).

The sandbox offers a controlled environment where projects involving autonomous vehicles, delivery drones, and smart city applications can be tested and scaled. Developers will be able to deploy real-world use cases involving connected devices while benefiting from regulatory guidance and technical support.

Participants in the program will receive resources such as funding opportunities, mentorship, and access to strategic partners, enabling them to refine and expand their technologies. The initiative reflects the UAE’s continued efforts to lead in Web3 innovation, artificial intelligence, and future-driven economic models.

By fostering projects that combine AI, blockchain, and IoT, the UAE seeks to attract global startups to build the foundations of a decentralized machine economy. The sandbox is expected to drive real-world adoption of DePIN technologies across transport, infrastructure, and smart services sectors.

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