dForce Partners with InsurAce to Cover Smart Contract Vulnerabilities!

SoSo Daily Jan 25 | The European Central Bank plans to launch a digital euro in response to Trump's cryptocurrency policy.

SoSo Daily Jan 24 | Trump Signs Executive Order to Regulate Digital Assets in the U.S.

😊 Our Bi-Weekly Routine is here! 📷 Dec09-Dec23, 2024 Bi-Weekly Report Details：https://t.co/g2MgkA4wsg #InsurAce #biweeklyreport https://t.co/sJiOJSTHwy

😊 Our Bi-Weekly Routine is here! 📷 Nov25-Dec09, 2024 Bi-Weekly Report Details：https://t.co/yGo5a4wOIk #InsurAce #biweeklyreport https://t.co/c6FHFM04Vt

😊 Our Bi-Weekly Routine is here! 📷 Nov11-Nov25, 2024 Bi-Weekly Report Details：https://t.co/8j4yIh0uOo #InsurAce #biweeklyreport https://t.co/gghgSGvQDE

【Focus on Meme Black Swan: The Major Hack of On-chain Exchange DEXX】As of November 17, the data statistics of BTC, ETH, and TON on the TrendX platform are as follows:BTC had 18.23K mentions last week, down 13.67% from the previous week. The price on Sunday last week was $91,956, an increase of 13.2% from the previous Sunday.ETH had 4.27K mentions last week, down 26.98% from the previous week. The price on Sunday last week was $3,134, a decrease of 2% from the previous Sunday.TON had 777 mentions last week, down 3.63% from the previous week. The price on Sunday last week was $5.52, a slight increase of 0.2% from the previous Sunday.On the night of November 16, the decentralized trading platform DEXX suffered a major cyberattack, leading to the illegal transfer of many users' assets. According to affected users, DEXX may have suffered losses of tens of millions of dollars from the attack, with the total amount potentially reaching over $100 million. Web3 security expert and founder of SlowMist Technology, Yu Jian, pointed out that users' private key information had been leaked, though the exact method of the leak is still under investigation. Trust in the DEXX platform among on-chain markets has plummeted to rock bottom, with some even suspecting an inside job. While the truth remains elusive, this large-scale asset theft on DEXX has dealt a significant blow to the highly active on-chain Meme market and once again reminded people of the importance of asset security on the blockchain.🤔Is DEXX an Inside Job? Latest Developments on the Incident DEXX holds an important position in the Meme sector, being an on-chain DEX specializing in providing liquidity and trading services for Meme tokens. It also supports Meme coin project launches, staking, and lending services, forming a complete Meme financial ecosystem. DEXX has long ranked at the forefront of daily trading volumes among DEXs, earning it the title of the "Binance of the Meme coin market." Regarding the issue of stolen user private keys, DEXX operates via smart contracts, with users controlling their own asset private keys, which should, in theory, make it safer. So, where did the problem arise?According to monitoring from Bit Jungle, the large-scale theft of user assets on the DEXX platform has been preliminarily confirmed, with stolen funds exceeding $100 million, and hackers are still actively transferring user assets. After an in-depth technical analysis, the following major security issues were identified with the DEXX platform:Private key storage: Although DEXX is a non-custodial platform, it recorded users' private keys, meaning that once the system was attacked, hackers could easily obtain users' private keys and steal their assets.Unencrypted private key export: When users exported their private keys, no encryption measures were taken, exposing the private keys in plaintext during transmission, making them highly vulnerable to interception by hackers.Official DEXX Statement: The latest news on November 17 reveals that DEXX founder Roy responded to concerns about his absence on X, stating: "Due to special circumstances, we cannot update our status at the moment. Please give us more time to resolve things satisfactorily." The day before, DEXX's official statement assured that the team was working hard to fix the issue and that there was no rug pull, promising to keep users updated on further progress. Roy also mentioned that the company would cover the losses, and some users’ funds had been isolated.Market Reaction: However, as the stolen amount continues to rise, can DEXX really compensate users' losses? Most users are highly skeptical, with many dismissing Roy's claim that the platform will cover the losses, believing instead that this is an inside job. Trust in DEXX has plummeted.Some users stated that DEXX, like many trading bots, has been "running naked" in terms of security. The community discovered that, according to developer tools’ export_wallet request information, when users exported their DEXX private keys, the private key was presented in plaintext, meaning that user private keys were effectively stored on official servers. If the communication was not encrypted, attackers could intercept users' private keys during transmission. Even with HTTPS transmission, plaintext key transfer could lead to privacy data leakage due to browser vulnerabilities or other security issues. As a result, some users joked that "DEXX has redefined the concept of a non-custodial wallet."Additionally, wallet application OneKey revealed that DEXX had repeatedly requested permission to "upload clipboard contents," potentially uploading users' clipboard data, warning that "if you’ve copied your private key or seed phrase on your phone, transfer your assets immediately."📱Which Memes Are at Risk of a Sell-Off? What Impact Could This Have on the Market? According to GMGN data on the 16th, BAN, LUCE, PNUT, and other Meme tokens showed varying degrees of decline, possibly due to the DEXX theft:BAN dropped approximately 30% since the incident.LUCE dropped approximately 20% since the incident.PNUT dropped as much as 12.5% since the incident.Key Point 1:The theft is not over yet! If the DEXX security team cannot resolve the issue promptly, hackers may continue stealing users' assets. As of November 17, based on information from over 500 victims, it's estimated that at least $13 million has been stolen, but this number only reflects the amount reported by the 17th. The actual amount could be much higher, as besides USDT, many newly popular Meme tokens such as $BAN, $Pnut, and $BITCAT, as well as SOL, have also been stolen. We especially remind users that Meme tokens, particularly those with low liquidity, are high-risk assets.Key Point 2:Regarding the stolen funds, Web3 security team Beosin Alert issued a statement on the 16th stating that the hackers have not yet moved the funds. They have collected around 2,800 victim addresses and analyzed over 9,000 transactions involving stolen funds. Their analysis shows that the stolen funds remain in addresses controlled by the hackers and have not yet been transferred.This means that the hackers’ “ultimate goal” has not yet been revealed, like a sword hanging over the market. No one knows whether these Meme tokens will be suddenly dumped. Coupled with the common FOMO sentiment in the Meme space, this incident could have an immeasurable impact on the Meme sector and even the entire crypto market. It might cause many Meme tokens to go to zero, crippling the once-booming Meme field and undermining the vitality and confidence of the entire crypto market.🔒How to Safely Store Funds? The Meme sector is undoubtedly a hotbed of wealth creation in the current bull market. On-chain trading and the use of various automated tools (especially BOTs) have become the new norm for users. However, given past thefts involving projects like Bananagun and Unibot, and now the DEXX incident, security must remain a top priority for the industry. Investors must stay vigilant to ensure the safety of their assets.Users can take the following measures to ensure the security of their funds:Use hardware wallets to store assets Hardware wallets, as a type of cold wallet, do not connect to the internet, avoiding most online attacks. Users are advised to use mainstream hardware wallets such as Ledger or Trezor. Make sure the wallet firmware is updated to the latest version. Keep your seed phrase secure, and avoid storing it digitally (e.g., in photos or the cloud).Diversify asset storage Avoid "single point of failure" by spreading your assets across multiple wallets. Do not concentrate them in one address or exchange. It's recommended to store primary assets in cold wallets and keep a small amount for trading in hot wallets.Choose decentralized custody solutions Users are advised to select truly decentralized custody solutions, avoiding the risks of centralized exchanges. Multi-signature wallets, which require multiple parties to approve transactions, can further enhance security.Review the security of exchanges or platforms Ensure that exchanges conduct regular third-party security audits and implement recommendations to protect users' funds. Users with the necessary technical knowledge should also assess the platform’s fund custody mechanisms (e.g., the ratio of cold to hot wallets, multi-signature protection).Purchase insurance or participate in decentralized risk hedging In addition to the above, users can purchase crypto insurance to cover losses from hacking (e.g., InsurAce or Bridge Mutual).Here are some additional security tips for users:Be cautious with recommendations: Before trusting someone’s recommendation, thoroughly research the product mechanism. We recommend using automation tools (like BOTs) that do not store private keys on servers.Choose reputable tools: Opt for tools with a long track record, strong team, and no history of security issues.Beware of online scams: On any social platform, such as Telegram groups, avoid clicking unknown links or responding to unsolicited messages.Protect large transactions: After completing large fund transfers with any tool, move the funds to your own wallet.Finally, we recommend reading or revisiting SlowMist founder Yu Jian’s "Blockchain Dark Forest Survival Manual." Safety is the top priority when navigating the blockchain’s dark forest.Research Report⬇️

😊 Our Bi-Weekly Routine is here! 📷 Oct28-Nov11, 2024 Bi-Weekly Report Details：https://t.co/UbMbCThEUr #InsurAce #biweeklyreport https://t.co/0GnITJbWfZ

😊 Our Bi-Weekly Routine is here! 📷 Oct 14-Oct 28, 2024 Bi-Weekly Report Details：https://t.co/UmXzxbC6PS #InsurAce #biweeklyreport https://t.co/gwkoDAWMYk

😊 Our Bi-Weekly Routine is here! 📷 Sep30-Oct14, 2024 Bi-Weekly Report Details：https://t.co/qj9SIX9AIr #InsurAce #biweeklyreport https://t.co/iwoHrOUEeg

😊 Our Bi-Weekly Routine is here! 📷 Sep16-Sep30, 2024 Bi-Weekly Report Details：https://t.co/gxeag4Qj59 #InsurAce #biweeklyreport https://t.co/lvoJYaXUaQ

😊 Our Bi-Weekly Routine is here! 📷 Sep02-Sep16, 2024 Bi-Weekly Report Details：https://t.co/MmAeS1YZES #InsurAce #biweeklyreport https://t.co/p8ufi8S0CB

😊 Our Bi-Weekly Routine is here! 📷 Aug19-Sep02, 2024 Bi-Weekly Report Details：https://t.co/tcyELsZJla #InsurAce #biweeklyreport https://t.co/ieE1UJxplZ

😊 Our Bi-Weekly Routine is here! 📷 Aug05-Aug19, 2024 Bi-Weekly Report Details：https://t.co/7Ycgpci7QB #InsurAce #biweeklyreport https://t.co/5zR0DNDY9a

SoSo Daily Aug 17

SoSo Daily Aug 15

😊 Our Bi-Weekly Routine is here! 📷Jul22-Aug05, 2024 Bi-Weekly Report Details：https://t.co/QozuouzVqs #InsurAce #biweeklyreport https://t.co/AoRawoUMsr

😊 Our Bi-Weekly Routine is here! 📷Jul08-Jul 22, 2024 Bi-Weekly Report Details：https://t.co/95LPVvhPIH #InsurAce #biweeklyreport https://t.co/3bw7fLGfEY

😊 Our Bi-Weekly Routine is here! 📷Jun24-Jul 08, 2024 Bi-Weekly Report Details：📷https://t.co/FaDXDn85LQ #InsurAce #biweeklyreport https://t.co/StkeCNbkmB

📢New capacity opened for @compoundfinance V3 Smart Contract Cover！ 🛡️At a low premium cost of 0.0147% per day, you can get your assets protected! 🛒Buy Cover here: https://t.co/MDu4cEAMHn… #DeFi #InsurAce #Crypto #compound https://t.co/XixZmoDYrB

📢Good news for @dYdX users! We‘ve opened capacity for #DyDx Smart Contract Cover！ 🛡️At a low premium cost of 0.0164% per day, you can get your assets protected! 🛒Buy Cover here: https://t.co/MDu4cEAMHn #DeFi #InsurAce #Crypto https://t.co/2b4lTf0ieO

😊 Our Bi-Weekly Routine is here! 🗓️Jun10-Jun 24, 2024 Bi-Weekly Report Details：👇 https://t.co/jc4iMEADri #InsurAce #biweeklyreport https://t.co/2iOlSnILD3

🙌 The June $INSUR Token Buyback is complete! 📥 A total of 263 USDC have been used to swap for BNB/INSUR LP on #PancakeSwap For details: https://t.co/jXsGZItNDr #Insurace https://t.co/iV2uFHRQPw

😊 Our Bi-Weekly Routine is here! 🗓️May 27-Jun 10, 2024 Bi-Weekly Report 👉Details: https://t.co/zUQnFVVXPo #InsurAce #biweeklyreport https://t.co/GuIW0lyrSl

Good news for users of @LidoFinance! You can get your assets covered for just 0.0143% per day! 🛒Capacity: 13.1K USD 🛡️Buy Cover here: https://t.co/MDu4cEAMHn #DeFi #InSurAce #Cover https://t.co/nnD0zEVfrb

🆕We are delighted to announce our partnership with Nautilus Assure！ Working with Licensed Insurance Entities and On-Chain Risk pools, Nautilus provides one-stop assurance solutions for Digital Businesses and individual Asset Owners. Together, we will cover your protection needs and make your Digital Assets Safer. #InsurAce #DeFi #nautilusassure

📢Your advice counts! Set your reminders, our new stickers will be released soon. 🎁Congrats to all the winners! The rewards will be distributed within 7 business days. #InsurAce $INSUR #DeFi https://t.co/jawT3VVny6

🦾Strong community means strong participation. 3500 $INSURE Call for more creation for InsurAce Stickers! ✅Follow @InsurAce_io ✅Drop your creation design or any ideas for InsurAce stickers, and leave evm address 🎁🎁🎁 Top 3 with most likes each get 400 $INSUR Top 20 with https://t.co/PehyJVJZoK

🦾Strong community means strong participation. 3500 $INSURE Call for more creation for InsurAce Stickers! ✅Follow @InsurAce_io ✅Drop your creation design or any ideas for InsurAce stickers, and leave evm address 🎁🎁🎁 Top 3 with most likes each get 400 $INSUR Top 20 with most likes each get 100 $INSUR 300 $INSUR for 5 lucky 🗓️ Ends in 3 days, now it’s GO time!

https://t.co/1HOJJkA0gg Exploited in Flash Loan Attack, Maybe it’s time for us to issue new #Cover product?👀 #InsurAce #DeFi

Maybe it’s time for us to issue new #Cover product?👀 #InsurAce #DeFi

Want to stake your assets and contribute to project building? InsurAce has you covered. This week, #allaboutinsurace will introduce our versatile mining service to suit all your needs. Grow your rewards via https://t.co/E6KM8ClFnu . #Mining #DeFi #InsurAce https://t.co/GLS8xwBpyA

Want to stake your assets and contribute to project building? InsurAce has you covered. This week, #allaboutinsurace will introduce our versatile mining service to suit all your needs. Grow your rewards via #Mining #DeFi #InsurAce

🤔 Memecoins were a huge part of this cycle ❌ But many memecoins were a scam and a rug pull Should we consider offering rug pull products? Lets us know in the comments below 👇 #DeFi #InsurAce #Meme

🤔 Memecoins were a huge part of this cycle ❌ But many memecoins were a scam and a rug pull Should we consider offering rug pull products? Lets us know in the comments below 👇 #DeFi #InsurAce #Meme

Why risk everything and worry when you have #InsurAce? Visit us today at: https://t.co/El2d0PEXj7

A 🆕 Series #AllAboutInsurAce, where we explore all things native! 🧑‍💻 Smart contracts are the beating heart of decentralized finance investments, the critical component that stores and manages digital assets on DeFi platforms – prime targets for exploits. 🤗 But why risk everything? 🛡️ Our Smart Contract Cover protects users against smart contract malfunctions and exploits. So get covered today! #DeFi #InsurAce

Good news for @pendle_fi users! We‘ve opened capacity for Pendle V2 Smart Contract Cover！ At a low premium cost of 0.03% per day, you can get your assets protected! Buy Cover here: https://t.co/MDu4cEAMHn #DeFi #InsurAce #Crypto https://t.co/d2P0Wj5EJY

Good news for @pendle_fi users! We‘ve opened capacity for Pendle V2 Smart Contract Cover！ At a low premium cost of 0.03% per day, you can get your assets protected! Buy Cover here: #DeFi #InsurAce #Crypto

🤔 Why InsurAce? – Financial Covers for Your Web3 Assets 🛡️ Enjoy world-class DeFi protection with Smart Contract Vulnerability Cover, Ethereum Slashing Cover, and more 🌐 Available on multiple chains and platforms 🥳 Experience peace of mind with our seamless claims process https://t.co/otyOzOpC02

🤔 Why InsurAce? – Financial Covers for Your Web3 Assets 🛡️ Enjoy world-class DeFi protection with Smart Contract Vulnerability Cover, Ethereum Slashing Cover, and more 🌐 Available on multiple chains and platforms 🥳 Experience peace of mind with our seamless claims process 👇Visit us today for your one-stop #DeFi cover solution: #InsurAce #smartcontract #web3security

🌞 GM InsurAce Fam We have come a long way since our humble beginnings in 2020 ⌚️ 🏆 Today we look back and celebrate our list of achievements! 🫂 Ultimately, we couldn't have done it without you. Thank you for being with us! We have something exciting in store for you in the next few weeks 🛣️🗺️ #InsurAce #DeFi #RiskManagement

🔒 We've partnered with @InsurAce_io to enhance your blockchain utility and security 🔒 🛡️ InsurAce, a decentralized insurance protocol, protects your digital assets from risks like hacking and smart contract bugs Better safe than sorry! #Velo #DeFi #Blockchain #Insurance

When @MetaRisk_Labs decided to take its flagship protocol @InsurAce_io cross-chain, selecting the right blockchain interoperability solution was vital. With ~400M dollars of coverage spanning 100+ protocols across a wide range of chains, InsurAce’s user base was already natively multi-chain. It was clear that cross-chain was InsurAce’s next move. After careful consideration, the MetaRisk Labs team chose #Chainlink CCIP. CCIP represented an opportunity to streamline InsurAce’s operations by enabling seamless token transfers for users and simplifying the process of expanding coverage to new chains: Ultimately, the deciding factor for the MetaRisk Labs team was CCIP’s defense-in-depth security architecture. InsurAce is a security-first protocol. That meant it needed the most secure cross-chain infrastructure solution. As the only cross-chain solution with level-five security, CCIP was the only option that met MetaRisk Labs’ requirements: If you value cross-chain security, you need CCIP:

🎉 Welcoming 2024 with open arms! 🌟 Happy New Year from the InsurAce family! 🎊 May this year be filled with resilience, prosperity, and the assurance that together, we'll navigate the future with confidence. 🥳 Here's to protecting new possibilities and embracing a year of growth and success! #HappyNewYear #InsurAce2024

🎄✨ Merry Christmas from the InsurAce family to yours! 🎅🤶 Here's to a festive celebration and a New Year filled with peace, prosperity, and protected smiles! 🌟🎁 #Christmas2023

🗳️November 2023 Gauge Weight Voting Results🗳️ As #INSUR holders, you have the opportunity to participate in the gauge weight voting which determines the governance of #INSURACE’s: 1⃣ Mining Pool APYs 2️⃣ Cover Capacity for Smart Contract Covers

🤗Good day INSUR fam, here's our Bi-Weekly Updates for Nov 13 - Nov27 On Product and Tech 1⃣ InsurAce Governance Gauge Settlement (More Capacity Allocated to our Top 10 Listings!) 2⃣ InsurAce Governance Voting Rewards Distribution

🚀 Excitement is in the air as the #InsurAce team gears up for #DevConnect #web3 conference in Istanbul! 🇹🇷 Ready to connect, collaborate, and innovate in the heart of one of the world's most vibrant cities. Let's shape the future of decentralized insurance together! 💪

🎉 Today's spotlight is on our #InsurAce referral program! By inviting friends to use @InsurAce_io services, both you and your referrals can earn $INSUR rewards together! 🤝 More details here:

🚀 Dive into the highest yielding pool on #InsurAce today: USDT.e on Avalanche with an estimated APY of 11.8% 📈 Your gateway to smarter underwriting staking is here. Explore now: #Staking #DeFi

🚀 InsurAce Product Spotlight: Ethereum #Slashing Cover on InsurAce, in collaboration with @Figment_io, a leading staking infrastructure provider! A huge step towards safeguarding Figment ETH stakers from validator double-sign slashing losses.

🎉 Big news from InsurAce today! 🚀 We've taken a giant leap towards community-driven governance with our first successful proposal. Let's unravel this thread. 🧵 (1) #InsurAce #Governance #DeFi

💰 Here are the largest Cover Payments for InsurAce in 2023: @pendle_fi : $121.70k @muxprotocol : $11.91k @Aave V2: $9.30k @MoonwellDeFi : $8.63k @GMX_IO : $6.43k Your trust in our smart contract vulnerability coverages fuels our mission. Stay connected for more updates!

🎉 We are excited to unveil our Top Sales for InsurAce Smart Contract Vulnerabilities Coverage in 2023! 🛡️ Cover Capacity Sold: @curvefinance (All Pools): $2.25m @AAVE V3: $1.495m @Aave V2: $1.49m @Moonwelldefi: $1.4m @Uniswap V3: $1.38m

🚀InsurAce V2: A Journey of Governance and Value Creation 🎉 Since the launch of #InsurAceV2, the platform has stormed the #DeFi space with innovative tokenomics & a community-centric approach. Let’s dive into key developments since its debut:

Unpacking InsurAce V2 Tokenomics - A Game-Changer in #DeFi Insurance! 🌐 A Thread... 🧵

☀️GM Let's review ExtraFi's key highlights from September. ✅Officially live on Base ✅Completed the second audit by BlockSec ✅Launched the Bug Bounty Program on Immunefi ✅Listed on InsurAce ✅New utility: One-click Rebalance ✅TVL has reached $26.06M

1/ 🎉 Exciting times with #InsurAce's V2 Tokenomics, marking a pivotal moment in #DeFi insurance & the broader crypto arena. One notable feature is the Buyback and Redistribution mechanism, which is a game-changer for ecosystem sustainability. Let's dive in! 🚀

Today, we redefine DeFi insurance with the launch of InsurAce V2 Tokenomics! Dive deep, engage, and shape the future with us. Explore now at #InsurAceV2IsHere

Announcing the InsurAce V2 Tokenomics will be arriving next week! Get ready for a huge step up in Decentralised Insurance coverage in Web3! Join us at

Your stake. Your say. Amplified governance is coming to InsurAce V2. Get ready to have a louder voice in the community. 📢 #PowerToTheUsers

🥳🚀❤️Announcement of InsurAce V2 Tokenomics Here are 5 key features of what's coming in our biggest update yet!... 🧵1/15

🥳InsurAce V2 Teaser: 🤐 Amplifying Community Growth and Rewards... Empowering members with Referrals. A Thread 🧵

🧑‍🍳We've been cooking up something special, and it's almost ready to serve. InsurAce V2 is coming to the table, offering a feast of features you won't want to miss...

📣 Breaking news! @ExtraFi_io is listed on the InsurAce app! 🎉 #DeFi #InsurAce #ExtraFinance

🔊Hey InsurAce Fam, we're aware of the exploit on Exactly Protocol. We’re awaiting further news and a post-mortem before proceeding with the next course of action. Stay tuned for updates!

📣 Breaking news! GMX V2 is listed on the InsurAce app! @GMX_IO🎉 #DeFi #InsurAce #GMXV2

📣 Breaking news! @BabyDogeSwap is listing on the InsurAce app! 🎉 #DeFi #InsurAce #BabyDogeSwap

🔊Check out our latest listing on InsurAce app: @orca_so! Orca is an Automated Market Maker (AMM) decentralized exchange (DEX) built on top of Solana. Over the last 2 years, Orca has supported $36+billion in trading volume & 1.5+million unique wallets.

🔊Hey InsurAce Fam, we understand some of you are concerned about the Curve exploit. We’re awaiting further news and information until we can accurately process the correct course of action to take. Stay tuned for updates!