Audits and rug-pulled projects, a $650B token burn, and major DeFi protocol quits UK: Finance Redefined

The past week in DeFi was filled with bullish resurgences for many projects, but it was the Uniswap founder’s $650 billion HayCoin burn — 99% of the token supply — that grabbed headlines. In other news, a new report highlighted that 85% of the rug-pulled DeFi projects in Q3 didn’t report an audit, and the largest DeFi protocol on Solana has shut down its United Kingdom operations due to strict regulations imposed by the Financial Conduct Authority .

Blockchain security auditor Hacken released its latest security insights report on Oct. 25, aiming to spot the trends in Q3 crypto hacks and evaluate how affected projects approached security.Marinade Finance, the largest DeFi protocol running on the Solana blockchain, has reportedly started blocking users from the United Kingdom. Customers in the U.K. discovered the problem on Oct. 23 while trying to access Marinade’s website from local IP addresses.

Source: News Formal (newsformal.com)

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