Welcome to Finance Refinite, your weekly dose of DeFi news

Welcome to Finance Refinite, your weekly dose of essential decentralized finance (DeFi) news – a newsletter designed to bring you the most important developments of the past week.

Last week, DeFi was marked by the zkSync (ZK) token airdrop and the fact that a large portion of the wallets that received the deposited tokens had already sold them.

In another major incident, the Kraken exchange was hacked for $3 million, but security firm CertiK claimed it was a white hat operation. After days of accusations of blackmail and extortion, the security company returned the mined assets to the cryptocurrency exchange.

Kraken recovers $3 million from CertiK, ending its bug bounty saga

Cryptocurrency exchange Kraken has recovered lost funds after a major bug bounty exploit failed. Kraken has confirmed the return of stolen digital assets worth approximately $3 million, ending the Kraken-CertiK saga that began on June 9.

Nicholas Percoco, Kraken’s head of security, confirmed the refund minus transaction fees. Kraken’s CEO first announced the missing $3 million on June 19 when he claimed a “security researcher” maliciously removed it from the vault after discovering a bug and sharing the vulnerability with others.

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MetaMask Privacy Updates: What Users Need to Know

Consensys, the company behind MetaMask, has updated its privacy policy to improve user consent, transparency and control over their personal data. According to a press release shared with Cointelegraph, the changes aim to implement greater privacy and security measures for users of ConsenSys services, including MetaMask.

Consensys has made several important updates to its privacy policy, making the processing of IP addresses transparent, expanding its scope and improving the management of user data.

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41% of the best ZK airdrop wallets are already sold out – Nansen

Nearly half of the major wallets that received the new ZK token on Monday, June 17 have already sold their entire allocation during the airdrop, contributing to a 34.5% drop in ZK price since its launch.

Data from blockchain analytics firm Nansen shows that around 41% of tracked addresses have sold their entire airdrop, while 29.2% have sold at least some of their tokens. The total amount sold by the two groups was more than 486 million Zambian crowns. Just over 30% of the top receiving wallets held their ZK tokens.

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1inch partners with Blockaid to combat DeFi fraud and cyber threats

DeFi platform 1inch has partnered with Web3 security provider Blockaid to improve security measures within its ecosystem.

On June 20, 1inch Network revealed its aim to identify and prevent fraudulent activities such as phishing and hacking. In an announcement, the DeFi platform highlighted that Blockaid’s security features, which simulate transactions before execution, will play a critical role in improving DeFi security.

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DeFi Market Overview

Data from Cointelegraph Markets Pro and TradingView shows that the top 100 DeFi tokens by market cap had a bearish week, with most of them trading in the red on the weekly charts. The total value locked in DeFi protocols has fallen below $100 billion.

Thank you for reading our summary of this week’s most notable DeFi developments. Join us next Friday for more stories, ideas and information about this dynamically evolving space.

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