The integration will create new opportunities for SafePal users to explore exciting and enjoyable experiences within the Klaytn ecosystem.
Safepal | Klaytn Network
SafePal has officially announced the addition of support for Klaytn Network to its range of cryptocurrency wallets, including software, hardware, and browser extension wallets. This means that Klaytn's native tokens, including KLAY, can now be fully integrated with SafePal's suite of wallets.
SafePal aims to empower its users to take control of their cryptocurrency journey, and this latest integration with Klaytn represents a significant step towards achieving that goal.
The Klaytn network is a popular blockchain in Korea, with applications in Metaverse, blockchain gaming, and other Web3 verticals. This integration will provide SafePal users with access to new and exciting opportunities within the Klaytn ecosystem. Users will be able to manage their native Klaytn tokens and assets seamlessly across over 100 blockchains via SafePal's cross-chain swap functionality.
To further support this initiative, SafePal is also looking to integrate established Klaytn Dapps for users to access a wider range of Web3 verticals. The integration will also enhance cross-chain interoperability for Klaytn users with other blockchain ecosystems while strengthening security by providing an additional hardware wallet option for cold-storage of native Klaytn assets.
What is Klaytn:
Klaytn is a global blockchain platform. The Klaytn Foundation was established in 2020 to expand the ecosystem and collaborate with the Governance Council. Its role is to facilitate the adoption and development of new technologies and ensure the platform remains open, trusted, and sustainable for developers and users. The Foundation plans to implement the Decentralization Phase of the Klaytn blockchain in 2023 and beyond, according to its Governance Roadmap.
Where to find Klaytn:
Website | Twitter | Discord | Telegram
What is SafePal:
SafePal is a comprehensive crypto management platform that provides hardware wallet, software wallet, and browser extension wallet solutions. With powerful web3 solutions powered by industry leaders such as Binance, allowing users to store, manage, swap, and trade their crypto assets. We now serve more than 7 million users across the globe with hardware wallets, software wallets, and browser extension wallet product lines. We support 15 languages, 50+ blockchains, 100,000+ tokens, and also NFTs. The project is also integrated with Binance DEX and Binance Spot Trading, as well as DApps on Ethereum, BNB Chain, Solana, Tron, Polygon, and other networks.
Where to find SafePal:
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Related News
Prisma Finance Reportedly Hit by $9M Hack: What to Know
Prisma Finance paused its protocol operations for investigation and advised vault owners to disable delegate approval.
Reports have emerged indicating that DeFi platform Prisma Finance, fell victim to a hacking attack amounting to approximately $9 million. Cyvers, a web3 security platform, raised the alert after it detected suspicious transactions linked to the breach.
🚨UPDATE🚨Our system has detected multiple suspicious transactions with @PrismaFi and still ongoing!
— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) March 28, 2024
Total loss so far is around $9M. Attacker has funded by @FixedFloat!
Our system has detected the malicious contract 2 min earlier than hack transactions!👇
Our system would… https://t.co/9myoV8DL22 pic.twitter.com/SxT5yYZy7U
Initial estimates suggest a loss of $9 million, with the attacker reportedly utilizing funds from the crypto exchange FixedFloat.
Backing up Cyvers' findings, blockchain security firm PeckShield has confirmed the attack, providing details on the assets targeted by the hacker. Among the stolen assets are Prisma mkUSD and wrapped stETH.
In response to the breach, Prisma Finance issued a statement on X acknowledging the potential exploit. The project reportedly halted its protocol operations to conduct a thorough investigation into the incident.
Additionally, Prisma Finance advised vault owners to disable delegate approval as a precautionary measure.
We are aware of a possible exploit on Prisma.
— Prisma Finance (@PrismaFi) March 28, 2024
Core engineering contributors will pause the protocol and investigate.
We'll share an update and a post-mortem.
From DeFi Future to Security Concerns
Prisma Finance was initially hailed as the future of decentralized finance (DeFi), offering solutions in the form of a new LSTFi protocol. It enabled users to mint a fully collateralized non-custodial and decentralized stablecoin, mkUSD, using Ethereum liquid staking tokens (LSTs) as collateral.
However, the recent exploit paints a stark contrast to the platform's previous reputation, raising concerns regarding cybersecurity in the DeFi space.
Rising Trends in Crypto Hacks
The hack on Prisma Finance adds to a concerning trend in the cryptocurrency space. According to a Feb. 29 report by blockchain security firm Immunefi, over $200 million worth of cryptocurrency was lost to hacks and rug pulls last February, across 32 individual incidents.
This represents a 15.4% increase compared to the same period in 2023. Ethereum remains the most targeted blockchain, with 12 attacks accounting for over 85% of the total value lost in February.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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