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Mastercard Launches Crypto Credential Service

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Mastercard Launches Crypto Credential Service

Venmo to introduce crypto transfers; 0vix protocol exploited for $2M

Apr 30, 2023
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Mastercard Launches Crypto Credential Service

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Mastercard

Mastercard Launches “Crypto Credential Service” for Cross-Border Transfers

  • Mastercard is bringing out a service designed to ensure transactions between users’ wallets are verifiable and compliant, beginning with transfers of digital assets between countries.

  • Mastercard Crypto Credential is a set of common standards for attestation of interactions.

  • The Mastercard Crypto Credential service allows wallets to be identified in transactions that are compliant with requirements such as the Financial Action Task Force's (FATF) "travel rule."

  • Mastercard is teaming up with public blockchain network organizations Aptos Labs, Ava Labs, Polygon, and the Solana Foundation.

  • Wallet providers Bit2Me, Lirium, Mercado Bitcoin, and Uphold are also joining the initiative for cross-border payments targeting Latin America. 

  • More details

0vix protocol exploited for $2M

  • Polygon-based decentralized finance (DeFi) protocol, 0vix, appears to have been exploited for $2 million via flashloan.

  • Arkham Intelligence said the attacker has moved the stolen USDC to the Ethereum mainnet and swapped it for 757 ETH.

  • The exploiter inflated the price of vGHST to borrow a large amount of USD. The attacker then moved the USDC to Ethereum (ETH) mainnet and swapped it for 757 ETH.

  • Due to the incident, 0vix has paused the markets on POS and zkEVM.

  • DeFiLlama data showed that the total value of assets locked on the protocol slumped to $1.7 million from over $6 million after the exploit was confirmed.

  • More details

Venmo to introduce crypto transfers

  • Venmo users will be able to transfer funds to Venmo and PayPal accounts as well as third-party wallets and exchanges beginning in May.

  • users will need to pay blockchain network fees when transferring funds to an external wallet or exchange.

  • Venmo previously introduced crypto trading services in April 2021.

  • More Details


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