🤔 Fluid Says Resolv Exploit Led to $21M Bad Debt, Now Fully Covered
DeFi liquidity protocol Fluid reported that the March Resolv exploit resulted in approximately $21 million in bad debt due to the malicious minting of around $80 million in uncollateralized USR. The attack was external and did not compromise Fluid's smart contracts or code.
The remaining $19.3 million in bad debt has been fully covered, with Resolv contributing about $9.7 million, Fluid’s governance treasury covering $8.2 million, and the team covering $1.5 million. Fluid plans to pause FLUID buybacks, cut or remove incentives to rebuild its treasury, and upgrade its oracle and pricing systems while rolling out DEX v2, Solana DEX, fixed-rate borrowing, LaaS, and custodied collateral products. #hack
DeFi liquidity protocol Fluid reported that the March Resolv exploit resulted in approximately $21 million in bad debt due to the malicious minting of around $80 million in uncollateralized USR. The attack was external and did not compromise Fluid's smart contracts or code.
The remaining $19.3 million in bad debt has been fully covered, with Resolv contributing about $9.7 million, Fluid’s governance treasury covering $8.2 million, and the team covering $1.5 million. Fluid plans to pause FLUID buybacks, cut or remove incentives to rebuild its treasury, and upgrade its oracle and pricing systems while rolling out DEX v2, Solana DEX, fixed-rate borrowing, LaaS, and custodied collateral products. #hack
Forwarded from Altcoin Trading Signals
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📝 #BTC Bitcoin to hit $1M in next five years, per VanEck’s Head of Digital Assets Research Matthew Sigel.
🇺🇸📝 #macro USA - ADP Nonfarm Employment (week) = +33k (expected - / previous +39.3k)
Bitcoin Magazine
any deadcat bounce after 99,9% drop ?
The first bounce after the bear market -99.8% drop 😂
🇺🇸📝 U.S. CPI: +3.8% Year-Over-Year (Est. +3.7%)
U.S. Core CPI: +2.8% Year-Over-Year (Est. +2.7%) #macro
U.S. Core CPI: +2.8% Year-Over-Year (Est. +2.7%) #macro
🇺🇸📈 U.S. April seasonally adjusted Core CPI rose 0.4% MoM, above market expectations of 0.3%. This marks the highest reading since January 2025. #macro
🕵️ 500,000,000 $USDT (499,772,500 USD) transferred from Binance to Tether Treasury
🇩🇪💰 Elliptic, a blockchain analytics company, raised $120 million with the support of Nasdaq and Deutsche Bank.
🕵️ The Smarter Web Company bought 25 Bitcoin for £1.5M, increasing holdings to 2,830 Bitcoin. This reflects a 13.86% QTD #BTC yield.
🇺🇸👀 Crypto #ETF Flows Today:
Bitcoin ETFs:
1D NetFlow: -7 $BTC (-$566K)
7D NetFlow: +612 $BTC (+$49.41M)
Ethereum ETFs:
1D NetFlow: -1,183 $ETH (-$2.7M)
7D NetFlow: -2,742 $ETH (-$6.25M)
Solana ETFs:
1D NetFlow: +259,129 $SOL (+$24.62M)
7D NetFlow: +669,359 $SOL (+$63.59M)
Bitcoin ETFs:
1D NetFlow: -7 $BTC (-$566K)
7D NetFlow: +612 $BTC (+$49.41M)
Ethereum ETFs:
1D NetFlow: -1,183 $ETH (-$2.7M)
7D NetFlow: -2,742 $ETH (-$6.25M)
Solana ETFs:
1D NetFlow: +259,129 $SOL (+$24.62M)
7D NetFlow: +669,359 $SOL (+$63.59M)
💰 #MOVE Movement acquired Canopy, integrating the vault level into its platform.
🗽 Senate officially confirms pro-crypto Kevin Warsh as Federal Reserve Governor.