European regulators are assessing the risks of DeFi, and Uniswap is launching an Android walle app Cryptocurrency scrgruppen

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

In this week’s newsletter, European securities regulators published a report on the DeFi ecosystem that lists the risks it poses to the EU financial system – but also highlights the benefits of DeFi.

Uniswap has launched the beta version of its Android wallet on Google Play, where the app has gained popularity among desktop and Apple iOS users. DeFi platform Star Arena has recovered 90% of stolen Avalance (AVAX) tokens after offering a $250,000 reward, and Platypus Finance has fallen victim to another flash loan attack.

The top 100 DeFi tokens had a mixed week in terms of price action, with most tokens trading in the same range or slightly higher than last week. The total value locked in DeFi protocols reached $45.67 billion.

European Regulator: DeFi comes with significant risks and rewards

The European Securities and Markets Authority (ESMA), the European Union’s financial markets supervisory body, released an article on DeFi and its risks to the EU market on October 11.

In a 22-page report, the Securities and Markets Authority acknowledges the promised benefits of DeFi, such as increasing financial inclusion, developing innovative financial products, and enhancing the speed, security and costs of financial transactions.

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Uniswap launches beta version of Android wallet for Google Play

Decentralized cryptocurrency exchange Uniswap launched a closed Android beta version of its mobile app on October 12, according to a blog post from the app’s development team. Uniswap was previously only available on PC and mobile devices running iOS.

A new beta Android app lets users choose coins in different chains without switching networks. It automatically detects the network the coin is running on and switches to that network without the user asking. It can currently be used on Polygon, Arbitrum, Optimism, Base, and BNB Chain, with more chain compatibility scheduled in the future.

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Stars Arena recovers 90% of stolen funds after offering $257,000 reward

Social media platform Web3 Stars Arena said it has recovered nearly all of the cryptocurrencies stolen from the October 7 exploit, minus a 10% bounty to the person responsible.

In an October 11 post (formerly Twitter), Stars Arena said that about 90% of the 266,000 AVAX exploits, worth at the time about $3 million, had been returned after an agreement was reached to give 27,610 AVAX exploits a bounty worth about $257,000. For the exploiter. The reward also included compensation for 1,000 AVAX devices worth over $9,000, which the exploiter apparently lost on a bridge.

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Platypus DeFi loses $2.2 million in another flash loan scam

DeFi protocol Platypus lost more than $2 million in assets after suffering another flash loan exploit on its platform. The protocol suspended all of its pools in response to the attack.

According to blockchain security platform CertiK, the DeFi platform has been hit by three attacks, with $2.23 million taken via the exploit. On October 12, the first attack occurred, resulting in $1.2 million being extracted from the platform. A second attack occurred hours later, resulting in assets worth $575,000 being stolen from the platform. Just one minute later, the third attack occurred, resulting in the loss of $450,000 in assets.

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Lido Finance detects 20 intermittent events due to validator configuration issues

Ethereum staking protocol, Lido Finance, revealed that its protocol experienced 20 interruption events due to a series of infrastructure and signer configuration issues from validators managed by Launchnodes.

The incident occurred on October 11 at approximately 3:30 PM UTC, according to Launchnodes. In an October 11 post on

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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 mixed week, with most tokens trading in the green on the weekly charts. The total value locked in DeFi protocols decreased to $45.67 billion.

Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights, and education regarding this dynamically advancing space.

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