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<ul class="summary-list"><li><keyword id="6357017" type="DEFINITION" weightage="60" keywordseo="cryptocurrency">Cryptocurrency</keyword> worth over $600 million was stolen from <keyword id="4164994" type="PERSON" weightage="60" keywordseo="defi">DeFi</keyword> platform Poly Network on Tuesday. </li><li>The hacker appears to be returning some of their loot to Poly Network.</li><li>This is the latest in a series of DeFi <keyword id="2721952" type="PERSON" weightage="60" keywordseo="crypto">crypto</keyword> hacks, which have skyrocketed this year. </li></ul>Cryptocurrency worth over $600 million were stolen from decentralized finance platform Poly Network, in one of the biggest crypto heists ever on Tuesday, with developers putting out a plea on Twitter to the hacker asking for the money back - which the thieves have appeared to respond to. Poly Network announced the hack on <a href="https://twitter.com/PolyNetwork2/status/1425073987164381196">Twitter</a>, noting the attack took place on across the binance, <keyword id="2462624" type="PERSON" weightage="60" keywordseo="polygon">polygon</keyword> and <keyword id="2810876" type="PERSON" weightage="60" keywordseo="ethereum">ethereum</keyword> blockchains and involved various tokens, including shiba inu, wrapped <keyword id="6709758" type="UNKNOWN" weightage="60" keywordseo="Ether">ether</keyword>, wrapped <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">bitcoin</keyword>, uniswap and a series of stablecoins. The platform also published the hacker's wallet addresses and urged crypto exchanges and miners to halt tokens from these addresses. In response, around $33 million of stablecoin Tether that were part of the hack were frozen by its issuer, Paolo Ardoino, its chief technology officer said on <a href="https://twitter.com/paoloardoino/status/1425090760609832978">Twitter</a>. They also said they had found the vulnerability on the platform that the hacker used to seize the coins.Poly Network last said it had started receiving money back from the hacker, sharing on <a href="https://twitter.com/PolyNetwork2/status/1425395278341820420/photo/1">Twitter</a> that polygon tokens worth over $1 million had been returned. <a href="https://www.coindesk.com/poly-network-prepares-for-hacker-to-return-millions-in-stolen-crypto">Coindesk</a> had reported on Wednesday that the hacker said they would return the funds in a message embedded on an ethereum blockchain-based transaction. "Failed to contact the poly. I need a secured multisig wallet from you," the hacker added in a <a href="https://etherscan.io/tx/0x79245fb1d1ae48a214118e25d6ad2f9324f514ec6708135a19ba9d4cfa6344f6">separate transaction</a>. Poly Network then created the requested multi-signature wallets and reached out to the hacker via Twitter. "Law enforcement in any country will regard this as a major economic crime and you will be pursued. It is very unwise for you to do any further transactions. The money you stole are from tens of thousands of crypto community members, hence the people. You should talk to us to work out a solution," the network's developers wrote on <a href="https://twitter.com/PolyNetwork2/status/1425123153009803267/photo/1">Twitter</a>. This is the latest in a growing number of crypto hacks - and likely one of the biggest so far, with Poly Network saying it was the largest amount of money seized in the history of DeFi. Cryptocurrency intelligence firm Ciphertrace noted in a recent <a href="https://ciphertrace.com/cryptocurrency-crime-and-anti-money-laundering-report-august-2021/">report</a> that DeFi hacks made up over three quarters of crypto money seizures so far this year - at the end of July, around $361 million had been stolen in DeFi hacks compared to $111 million in other crypto crimes. Across the whole of 2020, DeFi hacks accounted for just $129 million, or 25%, of the total $516 million seized in crypto crimes according to Ciphertrace's report.

Over $600 million has been stolen from DeFi platform Poly Network in one of the biggest crypto heists of all time - but the hacker has returned some of the cash already

<ul class="summary-list"><li>Cyber-attackers stole $80 million from <keyword id="11931191" type="UNKNOWN" weightage="60" keywordseo="stablecoin" source="Orion">stablecoin</keyword> protocol <keyword id="13645534" type="UNKNOWN" weightage="60" keywordseo="beanstalk" source="Orion">Beanstalk</keyword> in a massive flash-loan swindle Sunday.</li><li>As a result, the credit-focused decentralized finance protocol lost its $182 million in total value locked.</li></ul>Cyber-attackers targeted ethereum-based stablecoin project Beanstalk Farms and made away with roughly $80 million in tokens in one of the largest flash-loan exploits ever. As a result, the credit-focused decentralized finance protocol lost its $182 million in total value locked, meaning the overall value of crypto assets deposited. Its native token, BEAN, which is meant to be pegged to the dollar, fell more than 75% over the last day."We are not aware of the identity of the individuals who were involved," the founders said in the Beanstalk Discord channel. "Like all other investors in Beanstalk, we lost all of our deposited assets in the Silo, which was substantial."Meanwhile, the attackers have already moved the entire $80 million in tokens they swiped into Tornado Cash to hide the funds, according to blockchain research firm PeckShield and Bloomberg.The security breach stemmed from an infiltration of the governance proposal system of the protocol, which opened the door to the attack. The exploiter asked for the protocol to send funds to <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword> as a donation, but the proposal had a malicious rider attached to it, leading to the fund drain. This case was not a technical hack, per se, but an exploitation of a design flaw in the governance procedure, which a project spokesperson addressed on Monday, <a href="https://cointelegraph.com/news/beanstalk-farms-loses-182m-in-defi-governance-exploit">CoinTelegraph</a> reported."It's unfortunate that the same governance procedure that put beanstalk in a position to succeed was ultimately its undoing," the spokesperson said. In decentralized finance, so-called flash loans are made when users borrow massive sums of stablecoins without any collateral — something that isn't possible in traditional lending.The lending and borrowing process is meant to happen within a single transaction on the blockchain instantaneously and is not uncommon among arbitrage traders. However, by manipulating the protocol or smart contract code, an attacker can exploit vulnerabilities in the transaction and drain funds.Notably, the exploiters of Beanstalk did donate $250,000 of stablecoin USDC to Ukraine.

Attackers swipe $80 million from ethereum DeFi project Beanstalk in one of the largest flash-loan exploits ever

<ul class="summary-list"><li><keyword id="2382887" type="PERSON" weightage="60" keywordseo="eToro">eToro</keyword> added four new <keyword id="2721952" type="PERSON" weightage="60" keywordseo="crypto">crypto</keyword> tokens to its offering this week, including two <keyword id="4164994" type="PERSON" weightage="60" keywordseo="defi">DeFi</keyword> assets. </li><li>DeFi has gained traction in the crypto community in recent weeks as prominent investors back this asset type. </li><li>DeFi has faced increased regulatory scrutiny, as tokens have dealt with cyber security issues. </li></ul>eToro <a href="https://www.etoro.com/news-and-analysis/crypto/new-cryptoassets-available-on-etoro/">added</a> two <keyword id="11094379" type="UNKNOWN" weightage="60" keywordseo="decentralized-finance">decentralized finance</keyword> tokens, Aave and Yearn.Finance YFI, to its trading offering this week, alongside crypto tokens Compound COMP and Decentraland MANA. DeFi has gained traction amongst crypto investors in recent weeks after having been long overlooked on account of its complex nature.Aave uses smart contracts, which allow users to receive different types of interest, and can be selected based on individual needs. It ranks among the top 30 largest cryptocurrencies by market capitalization and was last trading at around $331 per token based on Coinmarketcap <a href="https://coinmarketcap.com/currencies/aave/">data</a>. Yearn.Finance YFI encompasses several DeFi programs that are designed to optimize investing. Investors can earn profits through YFI contracts, or add tokens based on initial investment. YFI is ranked 61st based on market size and valued at just above $42,000, according to <a href="https://coinmarketcap.com/currencies/yearn-finance/">Coinmarketcap</a>. With the four new tokens, there are now 23 crypto assets available on eToro, one of the largest retail trading platforms. DeFi has gained traction and popularity within the crypto community in recent weeks, as sector heavyweights have signaled their support. "Shark Tank" investor Kevin O'Leary announced earlier this week he was <a href="https://markets.businessinsider.com/currencies/news/kevin-oleary-shark-tank-defi-ventures-investing-crypto-anthony-pompliano-2021-5-1030463248">planning to launch a DeFi investing company</a> and Chainlink's co-founder Sergey Nazarov <a href="https://podcasts.apple.com/us/podcast/base-layer-episode-210-sergey-nazarov-co-founder-chainlink/id1445373535?i=1000522603277">said</a> he believed a shift towards DeFi was unavoidable. DeFi is based on <keyword id="6355684" type="PERSON" weightage="60" keywordseo="Blockchain">blockchain</keyword> technology and aims to remove any middlemen from the investing process. It has a variety of uses, including digital currency exchanges, stablecoins and wrapping bitcoin to link them to the <keyword id="2810876" type="PERSON" weightage="60" keywordseo="ethereum">ethereum</keyword> network. Smart contracts also allow users to earn interest on their investments. So far, DeFi has been widely regarded as too complex and inaccessible to especially retail investors as it requires significant expertise. Security issues and past crashes of DeFi investment vehicles have also led investors to be cautious.Cryptocurrency exchange Binance has seen a number of hacks and attacks on DeFi products based on its systems. Most recently BurgerSwap, a DeFi platform on which users swap digital burgers, was <a href="https://twitter.com/burger_swap/status/1398161871778115586">attacked</a> by hackers and lost over $7 million of its clients funds. Regulators including the SEC chairman Gary Gensler have urged caution, <a href="https://www.sec.gov/news/testimony/gensler-2021-05-26">saying</a> the DeFi was challenging for investors due to its volatility and the novelty of products included under the umbrella term.

eToro adds DeFi tokens to its trading platform as it taps into the boom in demand from the crypto community

<ul class="summary-list"><li>Cryptocurrencies fell along with tech and social media stocks Thursday as US after Facebook's shock earnings.</li><li>Facebook parent Meta's shares lost 20% in premarket trading, hitting other risk assets.</li></ul>Cryptocurrencies were down across the board on Thursday, as investors shunned technology, social media and metaverse-linked stocks after Facebook parent company Meta delivered weak fourth-quarter earnings and guidance that sent its <a href="https://markets.businessinsider.com/news/stocks/facebook-stock-price-meta-q4-earnings-mark-zuckerberg-tiktok-revenue-2022-2">shares plunging</a> after hours.Meta <a href="https://www.businessinsider.com/facebooks-metaverse-business-completely-misses-wall-street-expectations-reality-labs-2022-2?r=US&amp;IR=T">reported</a> a loss in users for the first time in its history. To boot, its metaverse business racked up a $10 billion loss in the fourth-quarter of 2021, versus expectations for a profit of $3 billion.Risk aversion and concern over the impact of rising interest rates and higher inflation has kept the entire cryptocurrency complex on a weak footing since the start of the year. While Meta didn't break down expenses by segements, CFO David Wehner gave some more colour to the figures by explaning how hiring and a accelerated headcount in 2022 will be the biggest contributor to expensve growth, with the metaverse being one of these areas."You know, we're expecting accelerated headcount growth in 2022 to be the biggest contributor of expense growth, and that's largely in tech and product roles to support the seven product priorities that Mark laid out: Reels, community messaging, commerce, ads, privacy, AI, and the metaverse."Metaverse-linked tokens, which were huge beneficiaries of Meta's pivot to the digital world late last year, took a hit on Thursday. Decentraland's native token, mana, was down 5.39% while rival metaverse platform The Sandbox saw its said token drop 10.60% over a 24-hour period.The two have lost well over a fifth in value since the start of 2022, a far cry from the 300% gain both made in November, in the wake of Meta's announcement.Elsewhere in the cryptocurrency market, <a href="https://markets.businessinsider.com/currencies/sol-sol">solana</a> fell back below $100 on Thursday after clawing back above this point earlier in the week. It was down 13.6% at $95, following a hack on a related network on Wednesday.The Wormhole project <a href="https://twitter.com/wormholecrypto/status/1488976115750383626">tweeted</a> on Wednesday that its site was down for maintenance while it looked into "a potential exploit." Wormhole is a bridge between the <keyword id="11892696" type="UNKNOWN" weightage="60" keywordseo="ethereum" source="Orion">ethereum</keyword> and <keyword id="11931714" type="UNKNOWN" weightage="60" keywordseo="solana" source="Orion">solana</keyword> networks. Cybersecurity analyst <a href="https://twitter.com/CertiKCommunity/status/1488985314404319240?s=20&amp;t=_nLS7cwz108hZJm0JdNSAQ">CertiK</a> reported a hack had resulted in the loss of 80,000 ether, worth around $210 million at the current price, and around $50 million in solana. "A cross chain bridge between ethereum and solana, called Wormhole Bridge, was exploited yesterday by an attacker, resulting in the loss of 120,000wETH tokens (equalling around $320 million)," Marcus Sotiriou, an analyst at GlobalBlock, said. "This is the second largest DeFi hack to date. The bridge allows users to send and receive <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> between various blockchains like ethereum, solana," he added.Last week, <a href="https://markets.businessinsider.com/news/currencies/crypto-crime-blockchain-money-laundering-bitcoin-ethereum-defi-chainalysis-2022-1">Chainalysis reported</a> that DeFi platforms accounted for $900 million of the total money laundered in 2021, a 1,964$ year-over-year increase."Solana's cheap transaction costs reportedly encourage bots to spam servers and crowd out users who need to re- margin underwater positions. Fresh fixes are pledged, but this is not the first time. Basically, it illustrates the current trade-offs between cost or speed and security, as well as the price of prioritising rapid ecosystem development," UBS strategists led by James Malcolm said.<a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> meanwhile was last down 4.6% in the last 24 to around $36,742, while <a href="https://markets.businessinsider.com/currencies/eth-usd">ether</a> was down 5.3% at around $2,621, according to CoinMarketCap.Read more: <a href="https://www.businessinsider.com/crypto-crash-outlook-strategy-sports-investing-betting-fanduel-bullpen-vc-2022-1?r=US&amp;IR=T" target="_blank" rel="noopener noreferrer">Crypto needs 'to come crashing back to Earth' : An early FanDuel investor explains why even the huge splurge on sports isn't enough to draw him into 'the hype' — and shares 2 picks for defying a challenging growth environment</a>

Cryptocurrencies take a beating along with tech stocks, as Facebook earnings hit metaverse tokens and a blockchain hack hits solana and other DeFi coins

<ul class="summary-list"><li>Hackers stole almost $700 million in 72 attacks in the first quarter of 2022, Atlas VPN said.</li><li>Attacks on the <keyword id="11931714" type="UNKNOWN" weightage="60" keywordseo="solana" source="Orion">solana</keyword> and <keyword id="13062973" type="UNKNOWN" weightage="60" keywordseo="binance-smart-chain" source="Orion">Binance Smart Chain</keyword> ecosystems accounted for over half of these losses.</li></ul><keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">Crypto</keyword> <keyword id="11902216" type="UNKNOWN" weightage="60" keywordseo="blockchain" source="Orion">blockchain</keyword> hackers stole almost $700 million in 2022, and attacks on the solana and Binance smart chain ecosystems accounted for well over half of that total, according to a report on Tuesday from <a href="https://atlasvpn.com/blog/blockchain-hackers-stole-nearly-700-million-in-q1-2022">Atlas VPN said</a>.<keyword id="12048079" type="UNKNOWN" weightage="60" keywordseo="cybercriminals" source="Orion">Cybercriminals</keyword> stole $682 million from 72 attacks in the first three months of the year, the report said. Hacks of the solana and BSC networks led to almost $500 million in stolen funds, with $400 million stolen from solana and $100 million from Binance smart chain, according to Atlas VPN's data, which was based on figures from <a href="https://atlasvpn.com/blog/blockchain-hackers-stole-nearly-700-million-in-q1-2022">Hacked Slowmist.</a><keyword id="11901075" type="UNKNOWN" weightage="60" keywordseo="nfts" source="Orion">NFTs</keyword> were the top target, with the highest number of hacks at 20, netting a near-$49 million loss. Some attackers used phishing attacks on Discord to steal victims' NFTs, the report said."With the rise of new crypto ecosystems, cybercriminals get more targets they can exploit. In addition, the surging NFT trend attracted even more scammers to the industry," Atlas VPN said.Monetary losses were calculated based on the conversion rate of a particular cryptocurrency when the attack took place.The BSC ecosystem had 12 hacks while the solana ecosystem was hacked 4 times. <a href="https://markets.businessinsider.com/news/currencies/crypto-market-facebook-earnings-metaverse-blockchain-ethereum-bitcoin-solana-hack-2022-2">Wormhole</a>, a communication bridge between solana and other decentralized finance (DeFi) networks, was the target of the biggest <keyword id="11907745" type="UNKNOWN" weightage="60" keywordseo="hack" source="Orion">hack</keyword> in February of this year."An attacker exploited a signature verification vulnerability in the network to mint 120K Wormhole-wrapped ether on solana, worth about $334 million," Atlas VPN said.The ethereum ecosystem experienced 16 hack attacks in 2022 and lost nearly $25 million. It experienced the same number of hackings in the first quarter of last year, making it the top target for hackers.Exchanges were hacked three times, losing $42 million. Other types of hacks on blockchain caused $52 million in losses in 9 instances.Most blockchain-related hacks occur when cybercriminals exploit flaws in the project code. Successful hack can cause massive losses to creators and investors on crypto platforms.Blockchain-related hacks have reached a record-high in the first quarter of 2022, showing an 118% increase compared with the same quarter last year, the data showed."The growing market of cryptocurrencies entices not only legit people interested in the technology, but also cybercriminals who want to exploit it," Atlas VPN said.Hackers stole with more than <a href="https://www.businessinsider.in/investment/news/biggest-crypto-hacks-of-2021-over-4-billion-stolen/slidelist/88560280.cms">$4 billion worth</a> of cryptocurrencies in 2021, according to a report by Crystal Blockchain, almost triple the amount stolen in 2020.And last week, a crypto hacker pulled off one of the <a href="https://markets.businessinsider.com/news/currencies/crypto-hack-ronin-network-heist-cybercrime-cryptocurrency-axie-infinity-polynetwork-2022-3">largest heists in history</a>, stealing $625 million worth of ether and stablecoin USDC after targeting Axie Infinity's Ronin Network.

Crypto blockchain hackers have stolen almost $700 million in just 3 months this year, with solana and Binance smart chain hit hard

<ul class="summary-list"><li>The number of cases of cryptocurrency breaches and fraud is on track to break records in 2021. </li><li>32 incidents of hacks and fraud for a total value of $2.99 billion have taken place so far in 2021.</li><li>The number of offenses, on average, grows 41% every year. </li></ul>Cases of breaches and fraud in the <keyword id="11994583" type="UNKNOWN" weightage="60" keywordseo="cryptocurrency-market" source="Orion">cryptocurrency market</keyword> are pushing toward their highest count this year, a study released Tuesday showed, rising alongside growth in the market itself to a more than $2 trillion valuation32 incidents of hacks and fraud for a total value of $2.99 billion have taken place so far in 2021. That's on course to break the 38 cases tallied in 2020, with that figure <a href="https://cryptohead.io/research/crypto-breaches-and-fraud/">representing a 40.7% climb from 2019</a>, according to analysis from Crypto Head, which tracks information and writes guides about the cryptocurrency market. The average value of this year's breach and fraud cases comes in at $93.3 million. On average, the number of offenses grows 41% every year, it said. Breaches of wallets and exchanges are the most common type of attack, with 126 in the last ten years, outstripping attacks and fraud involving DeFi, or decentralized finance, at 41 each. "However, the number of DeFi breaches is on the increase, with this new technology more open to potential weaknesses," wrote James Page, a crypto technical writer at Crypto Head. In the last 10 years, $19.2 billion has been stolen through breaches and fraud. <a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> is the most targeted cryptocurrency, accounting for 33.3% of hacking and fraud cases. The world's most traded digital coin, <keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">bitcoin</keyword>'s valuation on Tuesday was re-approaching $1 trillion following a selloff. Bitcoin accounts for about 43% of the cryptocurrency market, whose valuation has soared this year to <a href="https://coinmarketcap.com/">$2.1 trillion, according to CoinMarketCap.com</a>. <a href="https://markets.businessinsider.com/currencies/eth-usd">Ethereum</a> is the second-most targeted crypto, logging 36, or 12.8%, of breaches over the last decade. But it's fraud cases that are the most lucrative for criminals as they've taken, on average, $365 million, or more than 14 times as much as breaches, said Crypto Head. The United States is the most commonly targeted country, with 17 hacks and fraud cases, followed by the UK and South Korea, at 12 and 9 incidents, respectively. 2021 may set a record number of offenses, but hackers made the most money in 2017, stealing $223.5 million on average and highs of $4.7 billion in total. The largest breach to date is Mt. Gox, with $615 million stolen over the years, leading to the platform's insolvency in 2014, said Crypto Head. Crypto Head said the majority of the data it analyzed came from <a href="https://crystalblockchain.com/security-breaches-and-fraud-involving-crypto/">Crystal, a digital asset analytics platform</a> and that it omitted instances of crypto seized by governments or law enforcement authorities.

Cryptocurrency hacks and fraud are on track for a record number of incidents in 2021, data shows

<ul class="summary-list"><li>Crypto hacks climbed to a record $3.8 billion in 2022, Chainalysis said in a report. </li><li>Groups linked to North Korea ripped off nearly half that value, taking $1.7 billion. </li></ul>Hackers ripped off more than $3 billion from cryptocurrency businesses last year, with more than half of that amount stolen by groups linked to North Korea, according to Chainalysis. Topping the most prolific hackers is Lazarus Group, the North Korea-based cybercriminal syndicate the US Treasury said was linked to last year's<a href="https://www.businessinsider.com/axie-infinity-crypto-hack-fake-job-offer-letter-spyware-phishing-2022-7"> $620 million crypto heist</a> from Axie Infinity's Ronin blockchain network.North Korea-linked hackers "shattered their own records for theft" in lifting roughly $1.7 billion worth of cryptocurrency across several hacks, the <a href="https://blog.chainalysis.com/reports/2022-biggest-year-ever-for-crypto-hacking/" target="_blank" rel="noopener">blockchain analysis firm said in its report</a> this week. It noted experts believe the North Korean government which is under sanctions for its nuclear weapons activity is using stolen crypto to fund its nuclear weapons program. "For context, North Korea's total exports in 2020 totalled $142 million worth of goods, so it isn't a stretch to say that cryptocurrency hacking is a sizable chunk of the nation's economy," Chainalysis said. $1.1 billion of crypto stolen by North Korea-linked groups was swiped in hacks of DeFi, or decentralized finance, protocols. DeFi protocols were the largest victims last year with $3.1 billion stolen and accounting for 82.1% of all cryptocurrency ripped off by hackers. That marks a jump from 73.3% in 2021. Chainalysis said outside of DeFi protocols, North Korea-linked hackers also send large sums to crypto mixers. Mixers blend cryptocurrencies from many users to shield from where the funds came and who owns them.<div type="image" title="A chart shows the total value stolen in crypto hacks from 2016 to 2022." height="916" width="1582" msid="97559697" hostid="261" sizebytes="30114"></div>

Crypto hackers made off with an unprecedented $3.8 billion in 2022, led by North Korean-linked groups breaking their own theft records

<ul class="summary-list"><li>Longevity Escape Velocity is a theory that posits we may soon reach a point where aging is optional.</li><li>Its backers say achieving this state just requires enough ambition and money — plus maybe some AI.</li></ul><a target="_blank" href="https://insider.com/raadfest-cheat-death-longevity-loma-linda-blue-zone-2023-9">Eternal youth-seekers</a> and investors alike are getting increasingly excited about a concept called "Longevity Escape Velocity." This hypothetical idea borrows its name from "escape velocity," the basic physics principle which states that objects can, at a certain speed, defy gravity's pull.Longevity escape velocity suggests, similarly, that at <a target="_blank" href="https://twitter.com/PeterDiamandis/status/1604943746382045201">some point in the not-too-distant future</a> people will be able to escape the debilitating pull of death — and live indefinitely. Longevity escape velocity is our ticket to immortality. If only science could figure out how to cash it in.While LEV is only a theory for now, its backers contend that it could be a reality in not too many decades, given the <a target="_blank" href="https://www.insider.com/what-is-biological-age-is-reverse-aging-possible-2023-2">rapid advances in aging science</a>. As we get better at rejuvenating our cells, we will be able to improve the quality of our lives so exponentially that people will be increasing their life expectancy faster than they're living, thus approaching a near-immortal state, or so the theory goes.Harvard geneticist <a target="_blank" href="https://twitter.com/ResetYourClock/status/1700820225510219830">George Church</a> has entertained the idea that maybe, just maybe, we'll reach this state within your lifetime, reader. Sourav Sinha, head of strategy at the Longevity Vision Fund, said much the same during a <a target="_blank" href="https://biofuture.com/agenda/thursday-october-5/">recent panel discussion</a> about stopping age-related diseases in New York, suggesting LEV could be possible within a couple of decades, with the right kinds of investments.Longevity researcher Aubrey de Grey, one of the originators of the term, and perhaps its fiercest proponent, has put a very rosy, best-case scenario for LEV impossibly close — somewhere in the 2030s. Futurist Ray Kurtzweil has suggested an even earlier debut for LEV, perhaps by 2028 or 2029, which would not be enough time for authorities to approve any <a target="_blank" href="https://www.insider.com/metformin-diabetes-weight-loss-anti-aging-drug-long-covid-prevention-2023-2">anti-aging drugs</a> or treatments (we have none so far.)<div type="image" title="aubrey de grey" height="1353" width="2100" msid="104581871" hostid="261" sizebytes="415164"></div>And now, a growing number of leading pioneers in anti-aging research are signing on to a new "<a target="_blank" href="https://dublinlongevitydeclaration.org/">Dublin Longevity Declaration</a>," which calls on their entire field of science to focus on reversing biological aging processes at the cellular level. Trying to improve aging the old-school way, by going after one disease at a time, is "overly pragmatic" and taking too long, the declaration says."Everyone knows aging is bad, everyone says it's bad, but nobody does anything about it," de Grey <a target="_blank" href="https://regmedfoundation.org/2023/10/04/the-dublin-longevity-declaration/#:~:text=Aubrey%20de%20Grey%2C%20the%20President,of%20an%20individual%20is%20modifiable.">said in a release</a> when his new declaration was announced in early October. "Like bad weather – people are stuck in the assumption that nothing can be done, even if we try. We wanted to put that assumption to rest."<h2>Longevity Escape Velocity would defy the odds of scientific discovery</h2><div type="image" title="Dr. Thomas Perls, MD, MPH, Associate Professor of Medicine and Geriatrics, Boston University Medical School, standing in a sculpture of great healers on campus in Boston, MA on August 4, 2010. Dr. Perls is the founder and director of the New England Centenarian Study, the largest study of centenarians in the world." height="1397" width="2100" msid="104581873" hostid="261" sizebytes="253484"></div><a target="_blank" href="https://www.insider.com/doctor-made-longevity-calculator-estimates-how-long-you-will-live-2023-4">Geroscientist Thomas Perls</a>, who's been conducting one of the world's largest and most rigorous studies of centenarians, says that while trying to prevent age-related diseases is a valiant cause, the idea of some momentous Longevity Escape Velocity taking over and giving us eternal life is backwards and silly."These billionaires, of course, they've seen: if you throw enough money at a particular problem, you solve it," Perls told Insider.Perls says he's all for investors pouring billions of dollars into fighting specific age-related issues like Alzheimer's, searching for a cure, or at least a way to dramatically delay disease. But he considers it a waste of time and energy to even consider how people might live indefinitely when we haven't even figured out how to get most people to live in reliably good health beyond, say, 90 years old. Science hasn't even properly untangled the <a target="_blank" href="https://www.insider.com/100-year-old-superager-shares-her-protein-carb-diet-2023-8">genetic secrets of SuperAgers</a>, who outlive others with their cognition and physical health largely intact."We want to do what we can do to delay or even avoid aging-related diseases that may increase life expectancy or life span a little bit for people," Perls told Insider. "But in no way do I think that's going to lead to the notion of living forever."He sees the new Dublin Declaration as a way to make the idea of Longevity Escape Velocity more palatable to the broader scientific community, folding it in with the serious work being done to find new drugs to fight aging, like <a target="_blank" href="https://www.insider.com/longevity-researcher-takes-strawberry-antioxidant-fisetin-healthy-aging-2023-5">senolytics</a>, or other <a target="_blank" href="https://www.insider.com/drugs-to-help-dogs-and-people-live-longer-2023-3">geroprotective pills</a>.<h2>Using AI to hack biological aging — and dramatically extend our youth</h2><div type="image" title="nick bostrom at work, whiteboard in background" height="1456" width="2100" msid="104581875" hostid="261" sizebytes="139632"></div>Futurist and philosopher Nick Bostrom believes that trying to help people live healthier as they age can and must be our moral imperative. In 2005, he authored the revered short story, "<a target="_blank" href="https://nickbostrom.com/fable/dragon">Fable of the Dragon Tyrant</a>," about humanity coming together to defeat the monster of death.Bostrom, who directs the Future of Humanity Institute at Oxford University, said the tale was more of a rallying cry than a fantasy. He expects we really could shape a future where humans survive for a very, very long time — perhaps a thousand years or so — all while feeling like 15-year-olds.But he worries the pace of human-driven scientific progress is too slow, even with serious investments in longevity science."We could probably have been a bit further along now, if we had started more ambitiously 20, 30 years ago," Bostrom told Insider.What we really need is a supercharged kind of artificial intelligence in control, driving drug discovery, he said. Pharmaceutical companies are already exploring how they might use AI to <a target="_blank" href="https://affiliate.insider.com?h=afe8b62e6a7c7715da547e7dac1267a6b3977a41e948acee35847e1c27f98195&amp;postID=65318373cf767c5e2eacd6f4&amp;postSlug=longevity-escape-velocity-what-is-it&amp;site=in&amp;u=https%3A%2F%2Fwww.nature.com%2Farticles%2Fd41586-023-01487-y%2F">pinpoint better treatments</a>. Bostrom is looking ahead further, to a day when computers can completely solve biology's woes (George Church, for one, is already using AI to develop new ways to <a target="_blank" href="https://www.genengnews.com/news/george-churchs-lab-engineers-virus-resistant-bacterium-with-synthetic-genome/">edit out some of biology</a>'s downsides.) Just this week, longevity startup <a target="_blank" href="https://www.businesswire.com/news/home/20231018615272/en/Physics-Powered-GenAI-Biotech-Gero-Raises-6M-to-Find-Root-Causes-of-Aging-and-Age-Related-Diseases">Gero announced it has raised $6 million dollars</a> to develop its "large health model" in the hopes of finding new cures for some of the most common age-related diseases.If AI is able to pinpoint an ultimate cure, or cures, for all the ills of aging, Bostrom expects we really could achieve an "indefinite lifespan" for humankind.How society would handle such a radical shift remains an open question. "It's going to be a complete transformation of so many things in human affairs that it really becomes hard to form a detailed, concrete picture of what life in that kind of world would look like," he said.<h2>Some scientists say this is bogus — but the investments keep on coming</h2>Perls doesn't even entertain a future in which humans can live to 1,000, or even 200 years old. He points out that the world's oldest person, Jeanne Calment, lived to age 122 in 1997. No one else has come close to her record in the decades since. He doesn't think that any advances in longevity science will be able to touch our biological limits, and he doesn't buy the idea that rejuvenation is really possible."Nope. Let's keep going with the healthspan," he said.There isn't any drug available today that can reliably reverse-age people. Some of the most <a target="_blank" href="https://www.nytimes.com/2020/03/24/science/aging-dna-epigenetics-cells.html#:~:text=the%20Yamanaka%20factors%20are%20no%20simple%20panacea.%20Applied%20to%20whole%20mice%2C%20the%20factors%20made%20cells%20lose%20their%20functions%20and%20primed%20them%20for%20rapid%20growth%2C%20usually%20cancerous%3B%20the%20mice%20all%20died.">earnest attempts have failed spectacularly</a>. Combating one age-related issue can in turn make other diseases like <a target="_blank" href="https://www.nih.gov/news-events/nih-research-matters/long-telomeres-may-heighten-cancer-risks">cancer more likely</a> to appear."When you start tinkering with some of these basic mechanisms of aging, they're there as a safeguard for some problems," Perls said.Kurtzweil, the futurist, expects that by 2029 we should be able to claw back an entire year of life each year we live. After that, we'll be flying backwards in time, he says.But so far, in 2023, the only participants de Grey has signed up to test out his LEV rejuvenation treatments are mice. The Longevity Escape Velocity Foundation's first study of "robust mouse rejuvenation" began earlier this year. The <a target="_blank" href="https://www.levf.org/projects/robust-mouse-rejuvenation-study-1/study-updates/february-26th-2023">$3 million trial</a>, funded entirely by donations, includes mouse stem cell treatments, telomere-lengthening gene therapies, and the <a target="_blank" href="https://www.insider.com/what-is-rapamycin-and-how-does-it-help-prevent-aging-2023-3">cheap cancer pill rapamycin</a>, all aimed at giving the mice one additional, healthy year.

Some scientists seriously believe we could live forever by the 2030s. Here's what you need to know about the 'longevity escape velocity' theory.

Welcome back to <a href="http://newsletter.businessinsider.com/join/10-things-in-politics">10 Things in Politics</a>. <a href="http://newsletter.businessinsider.com/join/10-things-in-politics">Sign up here to receive this newsletter</a>. Plus, download Insider's app for news on the go - click <a href="https://apps.apple.com/app/apple-store/id554260576">here for iOS</a> and <a href="https://play.google.com/store/apps/details?id=com.freerange360.mpp.businessinsider">here for Android</a>. Send tips to <a href="mailto:bgriffiths@insider.com">bgriffiths@insider.com</a>.Here's what we're talking about:<a href="https://www.businessinsider.com/fauci-guidance-trick-or-treat-celebrate-halloween-covid-coronavirus-mask-2021-10"></a><ul><li><a href="https://www.businessinsider.com/buttigieg-2024-harris-presidential-campaign-biden-donors-2021-10">Buttigieg's 2020 donors are talking 2024. They aren't happy with Kamala Harris' performance and think a contingency plan should be ready in case Biden backs out.</a></li><li><a href="https://www.businessinsider.com/tom-malinowski-stock-trades-congress-ethics-2021-10">​​Investigators say Democratic lawmaker's stock trades most likely violated federal law</a></li><li><a href="https://www.insider.com/alec-baldwin-discharged-prop-gun-rust-set-cinematographer-died-2021-10">Alec Baldwin fatally shot a person on a movie set with a prop gun, authorities say</a></li></ul>With Phil Rosen.1. ON THE CAMPAIGN TRAIL: Some Democrats are already sharpening their 2024 elbows. Officially, President Joe Biden, who is already the oldest US president to be sworn in and would be 82 years old by January 2025, is still flirting with a reelection campaign. Unofficially, top donors to Transportation Secretary Pete Buttigieg are already trashing Vice President Kamala Harris' chances.Insider has some exclusive details on what's being said at informal dinners:"There's no map in the universe that exists in which Kamala Harris could possibly win a national election," a Democratic strategist who was informed by people who attended the dinners told Insider of the tone of the room.<ul><li>Still, some of Buttigieg's top supporters don't expect a challenge: If Biden doesn't run, Harris is clearly the party's heir apparent. "In their estimation, it would take the masses gathering to push him to do it, meaning the donors of the world, the political elites," the strategist said of Buttigieg supporters' feelings.</li></ul>More than two dozen Buttigieg donors have been attending the dinners: They've been held in traditional Democratic money-raising hubs including Washington, Wall Street, and Silicon Valley. Most of the attendees were "bundlers," meaning they gathered large donations for Buttigieg and later Biden from other megadonors. One Buttigieg donor said the transportation secretary himself had cut off donor contact.<a href="https://www.businessinsider.com/buttigieg-2024-harris-presidential-campaign-biden-donors-2021-10">Read more about how Democrats are gaming out 2024 with and without Biden running for reelection.</a>2. Key moments from Biden's town hall: Biden gave an unusually candid assessment of where things stood with his massive social-spending plan, telling viewers during a CNN town hall that he'd been forced to drop his plans for free community college and probably wouldn't be able to raise the corporate tax rate, The Washington Post reports. Asked about his infamous profane statement <a href="https://www.theguardian.com/world/richard-adams-blog/2010/mar/23/joe-biden-obama-big-fucking-deal-overheard">about how big a deal Obamacare was</a>, Biden said his economic plan would actually be a "bigger darn deal" than Obama's signature law. <a href="https://www.washingtonpost.com/politics/biden-cnn-town-hall/2021/10/21/2bf0cb44-327c-11ec-93e2-dba2c2c11851_story.html">More from Biden on where talks stand</a>.<div type="image" title="joe biden joe manchin" height="1600" width="2560" msid="87205981" hostid="261"></div>Some key highlights:An audience of two: Biden went out of his way to try to avoid criticizing the centrist Sens. Joe Manchin and Kyrsten Sinema, whose votes he cannot lose. "Joe's not a bad guy - he's a friend," Biden said of Manchin. "She's smart as the devil," he added later of Sinema.<ul><li>But there was some prodding: Biden said he's trying to sway Manchin on a compromise for the major climate-related proposals in the legislation, saying, "There's a lot of things Joe is open to my convincing him." <a href="https://www.businessinsider.com/biden-child-tax-credit-work-requirements-manchin-democrats-2021-10">Biden also said he opposed Manchin's pursuit of a work requirement</a> for the expanded child tax credit. As for Sinema, Biden said "where she's not supportive is she says she will not raise a single penny in taxes on the corporate side and/or on wealthy people." (<a href="https://twitter.com/josh_wingrove/status/1451351635599429637?s=20">The White House later clarified</a> that Biden was talking only about raising the corporate tax rate of 21%, which was lowered by the GOP's 2017 tax overhaul.)</li></ul>The Taiwan tango: Biden pledged that the US would come to Taiwan's defense if China attacked the self-governing island, which it's long claimed as its own, the BBC reports. Historically, the US has been intentionally vague on what it would do if Beijing attacked Taiwan. The White House later said Biden was "not announcing any change in our policy." <a href="https://www.bbc.com/news/world-asia-59005300">More on the eyebrow-raising comments</a>.3. House votes to hold Steve Bannon in criminal contempt: Lawmakers voted to hold Bannon in contempt after he defied a subpoena from the January 6 select committee, calling on him to provide documents and testimony in connection to his actions before, during, and after the insurrection. The Justice Department will now make the final decision on whether to bring charges against him. <a href="https://www.businessinsider.com/republicans-who-voted-steve-bannon-contempt-of-congress-2021-10">Just nine House Republicans broke with their party to support holding Bannon in contempt</a>.4. CDC head expands booster-shot availability: An influential advisory committee to the Centers for Disease Control and Prevention unanimously voted to recommend booster shots for some Moderna vaccine recipients and all Johnson &amp; Johnson vaccine recipients. CDC Director Rochelle Walensky then gave the final OK, meaning shots can now start going into millions of more arms. <a href="https://www.businessinsider.com/cdc-moderna-jj-boosters-now-recommended-who-should-have-one-2021-10">Here's how to know whether you should get a COVID-19 booster shot</a>.5. ​​Investigators say Democratic lawmaker's stock trades probably violated federal law: <a href="https://www.businessinsider.com/tom-malinowski-stock-trades-congress-ethics-2021-10">Investigators found "substantial reason to believe"</a> Democratic Rep. Tom Malinowski of New Jersey violated federal laws designed to promote transparency and defend against conflicts of interest. The House Ethics Committee will further examine whether Malinowski failed to properly disclose dozens of personal stock trades he made during 2019 and 2020, which Insider first reported in March. <a href="https://www.businessinsider.com/congress-stock-act-violations-senate-house-trading-2021-9">This year, 43 congressional lawmakers have been found to have violated a law meant to stop insider trading</a>.6. White House warns of national security threats related to the climate crisis: The Biden administration sounded a dire warning over the knock-on effects of the climate crisis. US intelligence agencies and the Pentagon prepared the 37-report, which warns of increasingly severe weather events that could directly or indirectly worsen tensions between nations and spur unprecedented mass migration. <a href="https://www.businessinsider.com/climate-change-national-security-white-house-biden-migration-tensions-report-2021-10">Defense Secretary Lloyd Austin said understanding climate change was necessary to help "deter war."</a>7. Alec Baldwin killed a person on a movie set with a prop gun: Baldwin discharged a prop firearm that killed one person and injured another on the set of the movie "Rust" at Bonanza Creek Ranch near Santa Fe, New Mexico, on Thursday, authorities said. The film's director of photography, Halyna Hutchins, 42, died after being transported to a local hospital. The film's director, Joel Souza, 48, is believed to have left the hospital after being treated. Journalists with the Santa Fe New Mexican saw Baldwin looking distraught late Thursday. <a href="https://www.insider.com/alec-baldwin-discharged-prop-gun-rust-set-cinematographer-died-2021-10">Here's what else we know</a>.8. FBI says it found Brian Laundrie's remains: Authorities confirmed that Laundrie's remains were found in the Florida reserve where he was reported missing last month. A comparison of dental records confirmed his identity. Laundrie was the sole person of interest in the killing of his fiancée, Gabby Petito, during a road trip. <a href="https://www.insider.com/brian-laundrie-remains-found-florida-reserve-2021-10">More on the news</a>.<div type="image" title="Susan Wojcicki with a magnifying glass over her face. The YouTube logo is patterned out behind her on a red background." height="1200" width="2401" msid="87205983" hostid="261"></div>9. ​​A reckoning for YouTube? YouTube CEO Susan Wojcicki built a $1 trillion video empire by not being like Facebook. While other Big Tech firms have fallen under scrutiny time and again, YouTube has managed to avoid pitfalls and stave off controversy. <a href="https://www.businessinsider.com/youtube-ceo-susan-wojcicki-scrutiny-facebook-roomba-policy-google-2021-10">But insiders say pressure is growing for Google's fastest-growing business</a>.10. Ransomware gang strikes Halloween giant: The largest candy-corn manufacturer in the US was hacked by a ransomware gang. Fortunately, Ferrara Candy - which produces Sweet Tarts, Nerds, and Brach's Candy Corn - doesn't expect the hack to affect the availability of its Halloween candy. Company-wide hacks have become more common during the coronavirus pandemic - <a href="https://www.businessinsider.com/ferrara-largest-candy-corn-manufacturer-hacked-2021-10">apparently not even candy makers are safe</a>.Today's trivia question: Speaking of Manchin, which college football coach is lifelong friends with the senator? Email your answer and a suggested question to me at <a href="mailto:bgriffiths@insider.com">bgriffiths@insider.com</a>.<ul><li>Yesterday's answer: Woodrow Wilson is the only president to be <a href="https://cathedral.org/quick-facts/american-history/">buried at the National Cathedral</a>. He's also the only president to be buried in Washington, DC.</li></ul>That's all for now, have a great weekend!

10 Things in Politics: Dem donors snipe over 2024

All I wanted was a swimming pool. What I got was a $31,000 lesson in Zelle fraud.

<ul class="summary-list"><li><keyword id="11892696" type="UNKNOWN" weightage="60" keywordseo="ethereum" source="Orion">Ethereum</keyword> is a general-purpose decentralized computing platform that uses blockchain technology.</li><li>Ether (ETH) is Ethereum's native currency, and it is currently the second-largest <keyword id="11892695" type="UNKNOWN" weightage="60" keywordseo="cryptocurrency" source="Orion">cryptocurrency</keyword> by volume.</li><li>Despite its popularity and wide applications, Ethereum remains a highly speculative investment. </li></ul>Ethereum and Bitcoin have nearly become household names. However, while they're often mentioned in tandem, they're far from the same. Bitcoin was created as an alternative, decentralized currency. Ethereum draws inspiration from Bitcoin, but has bigger aspirations: To create a software platform that not only supports cryptocurrencies, but any kind of decentralized application that can run without the need of a third party, thus giving people more control over their data. <h2>What is Ethereum? </h2>Ethereum is an open-source, decentralized computing platform network. The Ethereum network works like the <a href="https://www.businessinsider.com/what-is-bitcoin">Bitcoin network</a> in that it's built on blockchain technology, essentially a digital public ledger where financial agreements can be verified and stored entirely by software - without intervention of a third party. The easiest way to think of the Ethereum network is as a secure database that's accessible to anyone. When new "blocks" of data get added, they're cryptographically "chained" to a parent block, effectively making an uneditable record of the previous changes. Ethereum is considered one of the largest <a href="https://www.businessinsider.com/what-is-cryptocurrency">cryptocurrencies</a> (next to Bitcoin), because ether is the second largest crypto next to bitcoin by market capitalization. Note: The process of mining cryptocurrency is known as proof of work. However, Ethereum developers have plans to adopt an alternative method, <a href="https://www.coindesk.com/proof-of-stake">called proof of stake</a>, which requires less energy and makes mining more accessible.But what makes Ethereum so exciting to users and enthusiasts is the network's potential to do more than just handle financial transactions. Ethereum takes the Bitcoin blockchain further by allowing developers to run programs (known as "smart contracts") that can host any kind of decentralized application (known as "dApps"). "Bitcoin was the pioneer of blockchain technology, used to create a peer-to-peer payment system," says Jacob Wade, a financial coach and president of <a href="http://iheartbudgets.net.">iHeartBudgets</a>. "Ethereum uses similar blockchain technology, but added the ability to create decentralized applications on top of its platform." People have already created and launched a variety of dApps on Ethereum, including games, marketplaces for digital art, and decentralized <keyword id="11895316" type="UNKNOWN" weightage="100" keywordseo="finance" source="Orion">finance</keyword> (DeFi) apps.<h2>How does Ethereum work? </h2>Ethereum works by using computing power to power the network. In practice, this means people and organizations are using their computers to run specific software, or nodes. Anyone can set up their computer to run a node. "Ethereum relies on node operators to process transactions on the Ethereum network," says Wade. "These operators collect a fee for running the hardware and software necessary to facilitate these transactions." The fees are called gas fees because they keep the network running. And they're paid in <a href="https://markets.businessinsider.com/currencies/eth-usd">ether</a> (ETH). Consider the many ways that you could use a large network of computers. Similar to Bitcoin, Ethereum uses it to power peer-to-peer transactions and track who owns the ether cryptocurrency. Additionally, developers can create and run dApps on the network. The dApps connect to the Ethereum blockchain with "smart contracts," which are more like computer programs than contracts in the traditional sense of the word. "Smart contracts are small programs stored on the Ethereum blockchain that can self-execute when certain conditions are met," says Robert Farrington, founder of <a href="https://thecollegeinvestor.com/">The College Investor</a>. "A good way to think about it is that the dapp is the front-end of the program, and the smart contract is the backend of the program."Also, dApps rely on the decentralized and open-source Ethereum network and can't be controlled by a single entity. In fact, once a dApp is added to the Ethereum platform, it can't be taken down - even if the original creator wants to remove it or disbands entirely. The decentralized system can lead to more anonymity for users, who may be able to pseudonymously use dApps. And it can also result in less control and censorship from third parties, including corporations and governments.<h3>Is ether the same as Ethereum?</h3>Ethereum and ether work in tandem, but they're not the same. "Ethereum is the technology, and ether is the actual cryptocurrency," explains Farrington. "You can think of ether as the actual 'cash' or fuel that powers the Ethereum network." If you want to invest in Ethereum, you can buy ether on a cryptocurrency exchange. You may also be able to use ether to buy other products or services, similar to how you can use bitcoins and other currencies. Ether could also potentially act as a "<a href="https://markets.businessinsider.com/news/currencies/ethereum-ether-network-upgrades-store-of-value-saxo-bank-2021-7">store of value,</a>" similar to how you may want to <a href="https://www.businessinsider.com/how-to-buy-gold">buy and hold gold</a>.<h2>A brief history of Ethereum </h2>Ethereum was originally conceived of by <a href="https://www.businessinsider.com/vitalik-buterin-created-ethereum-one-of-the-worlds-three-largest-cryptocurrencies-2019-1">Vitalik Buterin</a>, who published an introductory white paper on the idea in 2013. The basic idea was to build on the blockchain technology that Bitcoin uses to create a decentralized and programmable platform. Here are a few key moments in Ethereum's history beyond its original inception:<ul><li>2014: Ether goes on sale for the first time and people could initially buy 2,000 ether for one bitcoin. The Ethereum blockchain publicly launched the next year. </li><li>2016: The <a href="https://www.insider.com/dao-hacked-ethereum-crashing-in-value-tens-of-millions-allegedly-stolen-2016-6" target="_blank" rel="noopener">decentralized autonomous organization (DAO) hack</a> leads to a disagreement about whether people should get back the money they lost. The resulting DAO fork leads to the creation of Ethereum Classic - a continuation of the original blockchain - and Ethereum. </li><li>2017: Popular dApps launch, including the CryptoKitties game. The price of ETH increased from around $8 to over $700 during 2017. </li><li>2021: The London hard fork makes several important changes, including EIP-1559, which makes network fees more predictable and reduces the supply of ether.</li></ul><h2>Forks of Ethereum</h2>Ethereum has also changed since it was first launched. "When blockchain technology changes (or upgrades), a fork can occur - just like a fork in the road," says Farrington. "When this happens, it can be a soft fork or hard fork." In general, there are what's known as soft forks and hard forks in ethereum:<ul><li>Soft forks can be minor changes that are backward compatible. Node operators can stay connected to the blockchain, but they're incentives to upgrade to the latest version if they want to continue earning ether. </li><li>Hard forks are major upgrades that can significantly change the system and aren't backward compatible. Node operators need to switch to the latest version to keep the blockchain going. Or, if there's a disagreement, a split could result in two competing blockchains.</li></ul>Often, changes are proposed and discussed in an attempt to form consensus before making a change. For example, there's a multiple-step upgrade to <a href="https://markets.businessinsider.com/news/currencies/ethereum-upgrades-boost-ether-price-eip1559-prrof-of-stake-2021-5">Ethereum 2.0</a>, which may be completed in late 2021 or early 2022. The update will make significant changes to how Ethereum works, and may help make it more scalable and ecologically sustainable.<h2>Ethereum vs. Bitcoin</h2>Ether and bitcoin are both popular cryptocurrencies that rely on blockchain technology, but they're far from identical. "Ethereum is also a technology platform that enables smart contracts - which is very different from Bitcoin, which is essentially just a store of value," says Farrington. "This aspect of smart contracts on Ethereum unlocks a lot of potential use cases that you can't do with Bitcoin."<table style="border-collapse: collapse; width: 100%;" border="1"><tbody><tr><td style="width: 50%;">Ethereum</td><td style="width: 50%;">Bitcoin</td></tr><tr><td style="width: 50%;"><ul><li>It's an open-source platform built with blockchain technology that uses the ether cryptocurrency. </li><li>Developers can create and run dApps on the Ethereum network. </li><li>The total number of potential ether isn't predetermined.</li></ul></td><td style="width: 50%;"><ul><li>It's a cryptocurrency built using blockchain technology.</li><li>It's primarily used to store value or purchase goods and services. </li><li>There's a finite number of bitcoins that can be created.</li></ul></td></tr></tbody></table><h2>Is Ethereum a good investment? </h2>It depends. There's no one right answer for anyone looking to invest in Ethereum. The major thing to know that like any investment - it's risky and should be considered as such before adding it to any portfolio.Ether is becoming more widely available and there's a lot of noise in the news about it's rising value - but it's always important not to get sucked into the <a href="https://www.businessinsider.com/what-is-speculation" target="_blank" rel="noopener">speculation</a> too much."It may serve some purpose in a portfolio, but it should be a very small amount and be viewed as highly speculative," says Farrington. "It's also important to note that it's still very early - so while the technology is promising, it's unknown which technology may win in the long run."In the news: <a href="https://markets.businessinsider.com/news/stocks/ethereum-upgrades-crypto-staing-industry-boom-jpmorgan-ether-2021-7" target="_blank" rel="noopener">Ethereum network changes</a> could make cryptocurrency staking a $40 billion industry within a few years. <h2>The financial takeaway</h2>Ethereum uses blockchain technology to create a decentralized platform. The ether cryptocurrency is the "fuel" that powers the network, and you can invest in the Ethereum network by buying ether. "As with any cryptocurrency, buying Ether is a speculative investment," warns Wade. "Always do your research before investing into any digital currency, and don't risk more than you are willing to lose."If you're interested in cryptocurrencies more broadly, you could also look for ways to <a href="https://www.businessinsider.com/how-to-invest-in-blockchain-technology" target="_blank" rel="noopener">invest in companies</a> that participate in the space rather than buying a single cryptocurrency.<a data-type="5fdc12cc3617355d27686ece">How to invest in bitcoin: The major ways to buy, their pros and cons, and the strategies to consider</a><a data-type="5fd1032bbca41b06e2352e87">Bitcoin taxes: Understanding the rules and how to report cryptocurrency on your return</a><a data-type="5fc82cf036173566ec233b96">Alternative investments are exotic assets that can diversify your portfolio - here are the five major kinds and everything you should know about them</a><a data-type="5fac1720bf96b9125f748159">How to diversify your portfolio to limit losses and guard against risk</a>

You Searched For "largest defi hack" and got 11 results

Over $600 million has been stolen from DeFi platform Poly Network in one of the biggest crypto heists of all time - but the hacker has returned some of the cash already

Sophie Kiderlin

Attackers swipe $80 million from ethereum DeFi project Beanstalk in one of the largest flash-loan exploits ever

Phil Rosen

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