▶️Crypto News & Updates
🔷XRP-focused crypto treasury firm Evernorth filed an S-4 with the SEC to go public via a SPAC merger with Armada Acquisition Corp. II and list on the Nasdaq under the ticker XRPN
• The deal is expected to raise over $1 billion in gross proceeds, backed by investors including Ripple, SBI, Pantera, Kraken, and GSR
🔷Quantum technology company BTQ Technologies announced that it has successfully deployed the first functional implementation of Bitcoin Improvement Proposal BIP-360 on its Bitcoin Quantum testnet (v0.3.0). BIP-360 introduces a new output type called “Pay-to-Merkle-Root”, aimed at minimizing the exposure risk of elliptic curve public keys.
🔷Kalshi has raised more than $1 billion in a new funding round at a $22 billion valuation, roughly doubling from about $11 billion in December 2025
🔷Coinbase has launched stock perpetual futures for non-U.S. users, offering 24/7 leveraged synthetic exposure to U.S. equities like Apple, Nvidia, and Tesla, as well as ETFs such as SPY and QQQ, with up to 10x–20x leverage, USDC settlement, and aiming to expand its global derivatives
🔷ResolvLabs’ stablecoin USR appears to have suffered a suspected exploit after an address minted 50 million USR with only about 100k USDC, sending USR down 74.2% to $0.257 before rebounding to around $0.78
• Blockchain security firm PeckShield said roughly $80 million worth of USR has been minted so far
🔷Crypto trading firm GSR expands token advisory with $57 million in acquisitions
• GSR acquired Autonomous and Architech to combine token launch services, trading and treasury management tools
🔷XRP-focused crypto treasury firm Evernorth filed an S-4 with the SEC to go public via a SPAC merger with Armada Acquisition Corp. II and list on the Nasdaq under the ticker XRPN
• The deal is expected to raise over $1 billion in gross proceeds, backed by investors including Ripple, SBI, Pantera, Kraken, and GSR
🔷Quantum technology company BTQ Technologies announced that it has successfully deployed the first functional implementation of Bitcoin Improvement Proposal BIP-360 on its Bitcoin Quantum testnet (v0.3.0). BIP-360 introduces a new output type called “Pay-to-Merkle-Root”, aimed at minimizing the exposure risk of elliptic curve public keys.
🔷Kalshi has raised more than $1 billion in a new funding round at a $22 billion valuation, roughly doubling from about $11 billion in December 2025
🔷Coinbase has launched stock perpetual futures for non-U.S. users, offering 24/7 leveraged synthetic exposure to U.S. equities like Apple, Nvidia, and Tesla, as well as ETFs such as SPY and QQQ, with up to 10x–20x leverage, USDC settlement, and aiming to expand its global derivatives
🔷ResolvLabs’ stablecoin USR appears to have suffered a suspected exploit after an address minted 50 million USR with only about 100k USDC, sending USR down 74.2% to $0.257 before rebounding to around $0.78
• Blockchain security firm PeckShield said roughly $80 million worth of USR has been minted so far
🔷Crypto trading firm GSR expands token advisory with $57 million in acquisitions
• GSR acquired Autonomous and Architech to combine token launch services, trading and treasury management tools
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▶️Crypto News & Updates
🔷Fannie Mae is preparing to accept bitcoin and USDC as collateral for mortgages in a first for U.S. housing finance.
• Fannie Mae plays a central role in the U.S. housing system, backing a large share of the country's mortgages.
• The product, developed with Better Home & Finance and Coinbase, will allow borrowers to pledge crypto when securing a Fannie-backed loan without selling their holdings.
🔷Trust Wallet, which claims to have more than 220 million users, launched a new AI agent toolkit that allows users to automate crypto transactions, including trades, transfers, and recurring buys.
🔷Bitcoin miner MARA Holdings sold 15,133 BTC between March 4 and March 25 for about $1.1 billion to fund the repurchase of roughly $1 billion in convertible senior notes.
• The buybacks reduce MARA's total convertible debt by about 30% to $2.3 billion while capturing an estimated $88.1 million discount.
🔷Tom Lee’s Bitmine increased its holdings to 4,660,903 ETH (3.86% of the circulating supply) after announcing it bought another 65,341 ETH last week.
🔷Michael Saylor’s Strategy acquired 1,031 BTC for ~$76.6 million at ~$74,326 per bitcoin last week. Now holds 762,099 $BTC acquired for ~$57.69 billion at ~$75,694 per bitcoin.
🔷Strategy filed to expand its capital-raising programs, launching new ATM offerings of up to $21 billion in MSTR common stock, $21 billion in STRC preferred stock, and $2.1 billion in STRK preferred stock.
🔷Balancer Labs, the corporate entity behind the DeFi protocol Balancer, is winding down after a $128 million exploit created "real and ongoing legal exposure" for the firm.
🔷Stablecoin issuer Tether has hired a Big Four accounting firm to conduct its first full independent audit of USDT reserves, marking a shift beyond quarterly attestations.
🔷Fannie Mae is preparing to accept bitcoin and USDC as collateral for mortgages in a first for U.S. housing finance.
• Fannie Mae plays a central role in the U.S. housing system, backing a large share of the country's mortgages.
• The product, developed with Better Home & Finance and Coinbase, will allow borrowers to pledge crypto when securing a Fannie-backed loan without selling their holdings.
🔷Trust Wallet, which claims to have more than 220 million users, launched a new AI agent toolkit that allows users to automate crypto transactions, including trades, transfers, and recurring buys.
🔷Bitcoin miner MARA Holdings sold 15,133 BTC between March 4 and March 25 for about $1.1 billion to fund the repurchase of roughly $1 billion in convertible senior notes.
• The buybacks reduce MARA's total convertible debt by about 30% to $2.3 billion while capturing an estimated $88.1 million discount.
🔷Tom Lee’s Bitmine increased its holdings to 4,660,903 ETH (3.86% of the circulating supply) after announcing it bought another 65,341 ETH last week.
🔷Michael Saylor’s Strategy acquired 1,031 BTC for ~$76.6 million at ~$74,326 per bitcoin last week. Now holds 762,099 $BTC acquired for ~$57.69 billion at ~$75,694 per bitcoin.
🔷Strategy filed to expand its capital-raising programs, launching new ATM offerings of up to $21 billion in MSTR common stock, $21 billion in STRC preferred stock, and $2.1 billion in STRK preferred stock.
🔷Balancer Labs, the corporate entity behind the DeFi protocol Balancer, is winding down after a $128 million exploit created "real and ongoing legal exposure" for the firm.
🔷Stablecoin issuer Tether has hired a Big Four accounting firm to conduct its first full independent audit of USDT reserves, marking a shift beyond quarterly attestations.
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Btc will go to zero only if water stops being wet or an elephant starts to fly
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▶️Crypto News & Updates
🔷Franklin Templeton, the traditional finance heavyweight with more than $1.7 trillion in assets under management, agreed to acquire 250 Digital, a spinoff from the venture firm CoinFund, to expand its crypto investment offering
• Upon closing, the firm plans to launch a new unit called Franklin Crypto, focused on institutional clients, including pensions and sovereign wealth funds.
🔷The New Hampshire Business Finance Authority is set to issue $100 million in bitcoin-backed bonds, with Moody's assigning a speculative-grade Ba2 rating — two notches below the lowest investment-grade level.
• Repayment relies solely on bitcoin collateral rather than public funds.
🔷Google Research warned that quantum computing could break Bitcoin sooner than expected
• Google said the industry still has time to migrate, but warned the window to transition to post-quantum cryptography is increasingly narrowing
• The company set a 2029 target for full migration to PQC and urged crypto ecosystems to accelerate their preparations
🔷Binance is beta-testing an in-app prediction market feature in its wallet through a partnership with Predict.Fun on BNB Smart Chain.
🔷Aave rolled out V4 on Ethereum mainnet, introducing a major architectural overhaul after more than two years of development.
• The design aims to expand beyond DeFi-native use cases into real-world credit, including structured lending and tokenized asset-backed financing.
• Aave framed V4 as a bridge between onchain liquidity and institutional demand, with new modules like automated reinvestment and deeper GHO integration.
🔷American Bitcoin, the bitcoin mining firm co-founded by Eric Trump, has grown its treasury to 7,000 BTC, up more than 35% in 2026 and worth roughly $474 million at current prices.
🔷Intercontinental Exchange invested another $600 million in Polymarket, advancing its broader $2 billion funding commitment.
🔷Tom Lee's Bitmine Immersion added 71,179 ETH over last week, bringing total holdings to 4.73 million ETH
🔷Michael Saylor's Strategy paused its weekly Bitcoin purchases for the first time in over a year
🔷Paradigm is developing a prediction markets trading terminal, according to sources, with partner Arjun Balaji leading the initiative since late 2025, targeting professional traders and market makers.
• The firm is also considering establishing an internal market-making desk and exploring prediction market indices by bundling multiple markets into tradable products, while building a public data dashboard.
• Paradigm is a major backer of Kalshi, which was valued at $22 billion in a recent financing round, and its terminal is reportedly not competitive with Kalshi.
🔷Drift Protocol potentially exploited for over $270 million
🔷Franklin Templeton, the traditional finance heavyweight with more than $1.7 trillion in assets under management, agreed to acquire 250 Digital, a spinoff from the venture firm CoinFund, to expand its crypto investment offering
• Upon closing, the firm plans to launch a new unit called Franklin Crypto, focused on institutional clients, including pensions and sovereign wealth funds.
🔷The New Hampshire Business Finance Authority is set to issue $100 million in bitcoin-backed bonds, with Moody's assigning a speculative-grade Ba2 rating — two notches below the lowest investment-grade level.
• Repayment relies solely on bitcoin collateral rather than public funds.
🔷Google Research warned that quantum computing could break Bitcoin sooner than expected
• Google said the industry still has time to migrate, but warned the window to transition to post-quantum cryptography is increasingly narrowing
• The company set a 2029 target for full migration to PQC and urged crypto ecosystems to accelerate their preparations
🔷Binance is beta-testing an in-app prediction market feature in its wallet through a partnership with Predict.Fun on BNB Smart Chain.
🔷Aave rolled out V4 on Ethereum mainnet, introducing a major architectural overhaul after more than two years of development.
• The design aims to expand beyond DeFi-native use cases into real-world credit, including structured lending and tokenized asset-backed financing.
• Aave framed V4 as a bridge between onchain liquidity and institutional demand, with new modules like automated reinvestment and deeper GHO integration.
🔷American Bitcoin, the bitcoin mining firm co-founded by Eric Trump, has grown its treasury to 7,000 BTC, up more than 35% in 2026 and worth roughly $474 million at current prices.
🔷Intercontinental Exchange invested another $600 million in Polymarket, advancing its broader $2 billion funding commitment.
🔷Tom Lee's Bitmine Immersion added 71,179 ETH over last week, bringing total holdings to 4.73 million ETH
🔷Michael Saylor's Strategy paused its weekly Bitcoin purchases for the first time in over a year
🔷Paradigm is developing a prediction markets trading terminal, according to sources, with partner Arjun Balaji leading the initiative since late 2025, targeting professional traders and market makers.
• The firm is also considering establishing an internal market-making desk and exploring prediction market indices by bundling multiple markets into tradable products, while building a public data dashboard.
• Paradigm is a major backer of Kalshi, which was valued at $22 billion in a recent financing round, and its terminal is reportedly not competitive with Kalshi.
🔷Drift Protocol potentially exploited for over $270 million
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▶️Crypto News & Updates
🔷Michael Saylor’s Strategy has acquired 4,871 BTC for ~$329.9 million at ~$67,718 per bitcoin. Now holds 766,970 BTC acquired for ~$58.02 billion at ~$75,644 per bitcoin.
🔷Tom Lee’s Bitmine bought 71,252 $ETH ($152.7M) last week, bringing its total holdings to 4,803,334 $ETH ($10.29B)
🔷Riot Platforms sold 3,778 BTC worth nearly $290 million in Q1 at an average price of $76,626.
🔷Metaplanet bought 5,075 BTC for about $405.5 million in Q1, the bitcoin treasury company disclosed, lifting total holdings to 40,177 BTC.
🔷Iran is seeking to charge tanker transit tolls through the Strait of Hormuz of roughly $1 per barrel — up to $2 million per ship — with payments accepted in cryptocurrencies, including bitcoin, according to the Financial Times. Officials said payments can also be made in Chinese yuan.
🔷Morgan Stanley launched MSBT on Wednesday(8th March) with a 0.14% sponsor fee, undercutting rivals to become the lowest-cost spot bitcoin ETF on the market.
🔷Crypto hedge fund Split Capital is winding down after returning outside capital, with founder Zaheer Ebtikar joining stablecoin startup Plasma as chief strategy officer.
🔷YZi Labs (formly Binance Labs) announced a strategic follow-on investment in Predictfun. Predictfun is now matching over 4 million orders and driving $1.8B+ in volume.
🔷Coinbase Global has received conditional preliminary approval from the OCC to establish a National Trust Bank. The federal trust charter will provide a unified regulatory framework for its custody business, enabling Coinbase to offer regulated services including digital asset custody, tokenized asset management, and trade settlement.
🔷Michael Saylor’s Strategy has acquired 4,871 BTC for ~$329.9 million at ~$67,718 per bitcoin. Now holds 766,970 BTC acquired for ~$58.02 billion at ~$75,644 per bitcoin.
🔷Tom Lee’s Bitmine bought 71,252 $ETH ($152.7M) last week, bringing its total holdings to 4,803,334 $ETH ($10.29B)
🔷Riot Platforms sold 3,778 BTC worth nearly $290 million in Q1 at an average price of $76,626.
🔷Metaplanet bought 5,075 BTC for about $405.5 million in Q1, the bitcoin treasury company disclosed, lifting total holdings to 40,177 BTC.
🔷Iran is seeking to charge tanker transit tolls through the Strait of Hormuz of roughly $1 per barrel — up to $2 million per ship — with payments accepted in cryptocurrencies, including bitcoin, according to the Financial Times. Officials said payments can also be made in Chinese yuan.
🔷Morgan Stanley launched MSBT on Wednesday(8th March) with a 0.14% sponsor fee, undercutting rivals to become the lowest-cost spot bitcoin ETF on the market.
🔷Crypto hedge fund Split Capital is winding down after returning outside capital, with founder Zaheer Ebtikar joining stablecoin startup Plasma as chief strategy officer.
🔷YZi Labs (formly Binance Labs) announced a strategic follow-on investment in Predictfun. Predictfun is now matching over 4 million orders and driving $1.8B+ in volume.
🔷Coinbase Global has received conditional preliminary approval from the OCC to establish a National Trust Bank. The federal trust charter will provide a unified regulatory framework for its custody business, enabling Coinbase to offer regulated services including digital asset custody, tokenized asset management, and trade settlement.
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▶️Crypto News & Updates
🔷Covenant AI, a major subnet developer, exited Bittensor, accusing co-founder Jacob Steeves of exerting unilateral control and describing the network's governance as "decentralization theatre."
🔷Bitget debuts IPO Prime market with SpaceX pre-IPO exposure token. Powered by Republic, the platform uses a tiered allocation system, with higher-tier users receiving larger allocations before tokens move to OTC trading on Bitget.
🔷According to Binance Wallet, the Binance Web3 Wallet has introduced an on-chain Pre-IPO asset exploration feature. The first batch of 5 tokenized assets, which official images show include tech companies like SpaceX and OpenAI, is now available in the app's "Markets" section.
🔷Michael Saylor’s Strategy has acquired 13,927 BTC for $1.00 billion at $71,902 per bitcoin. Now holds 780,897 BTC acquired for $59.02 billion at $75,577 per bitcoin.
🔷Tom Lee’s Bitmine bought 71,524 $ETH ($156.35M) last week and now holds 4,874,858 $ETH ($10.66B).
🔷American musician Garrett Dutton, known as G. Love, lost 5.9 BTC worth about $420,000 after entering his seed phrase into a fake Ledger app downloaded from the Apple App Store.
🔷Attackers exploited a vulnerability in the cross-chain interoperability protocol Hyperbridge to mint 1 billion unauthorized bridged DOT (Polkadot) on Ethereum and net roughly $237,000 in profit. Native DOT fell about 4%, even though Polkadot said its core network remained unaffected.
🔷According to Aptos, it has updated its tokenomics: staking APY cut to 2.6%, Gas fees increased 10x, and a 2.1B APT hard cap established. The Foundation will permanently lock 210M APT. The team is also exploring programmatic buybacks and expects to burn 32M+ APT annually after the new ecosystem DEX goes live.
🔷Circle CEO Jeremy Allaire said that the company is advancing its native network Arc, currently in testnet, and is exploring a native token for governance, incentives, and economic alignment, with a longer-term transition toward a PoS model.
🔷The SEC’s Division of Trading and Markets said certain crypto trading interfaces, including DeFi front-ends, wallet extensions, and mobile apps, may operate without broker-dealer registration if specific conditions are met.
• These include no order routing, no investment advice, no custody of user assets, and only fixed, neutral fee structures. The guidance applies to self-custodial wallet interfaces and will remain effective for five years unless superseded by further SEC action.
🔷Bitwise has filed a second amendment for its Hyperliquid ETF, setting the ticker to BHYP and the fee at 67 bps.
🔷Covenant AI, a major subnet developer, exited Bittensor, accusing co-founder Jacob Steeves of exerting unilateral control and describing the network's governance as "decentralization theatre."
🔷Bitget debuts IPO Prime market with SpaceX pre-IPO exposure token. Powered by Republic, the platform uses a tiered allocation system, with higher-tier users receiving larger allocations before tokens move to OTC trading on Bitget.
🔷According to Binance Wallet, the Binance Web3 Wallet has introduced an on-chain Pre-IPO asset exploration feature. The first batch of 5 tokenized assets, which official images show include tech companies like SpaceX and OpenAI, is now available in the app's "Markets" section.
🔷Michael Saylor’s Strategy has acquired 13,927 BTC for $1.00 billion at $71,902 per bitcoin. Now holds 780,897 BTC acquired for $59.02 billion at $75,577 per bitcoin.
🔷Tom Lee’s Bitmine bought 71,524 $ETH ($156.35M) last week and now holds 4,874,858 $ETH ($10.66B).
🔷American musician Garrett Dutton, known as G. Love, lost 5.9 BTC worth about $420,000 after entering his seed phrase into a fake Ledger app downloaded from the Apple App Store.
🔷Attackers exploited a vulnerability in the cross-chain interoperability protocol Hyperbridge to mint 1 billion unauthorized bridged DOT (Polkadot) on Ethereum and net roughly $237,000 in profit. Native DOT fell about 4%, even though Polkadot said its core network remained unaffected.
🔷According to Aptos, it has updated its tokenomics: staking APY cut to 2.6%, Gas fees increased 10x, and a 2.1B APT hard cap established. The Foundation will permanently lock 210M APT. The team is also exploring programmatic buybacks and expects to burn 32M+ APT annually after the new ecosystem DEX goes live.
🔷Circle CEO Jeremy Allaire said that the company is advancing its native network Arc, currently in testnet, and is exploring a native token for governance, incentives, and economic alignment, with a longer-term transition toward a PoS model.
🔷The SEC’s Division of Trading and Markets said certain crypto trading interfaces, including DeFi front-ends, wallet extensions, and mobile apps, may operate without broker-dealer registration if specific conditions are met.
• These include no order routing, no investment advice, no custody of user assets, and only fixed, neutral fee structures. The guidance applies to self-custodial wallet interfaces and will remain effective for five years unless superseded by further SEC action.
🔷Bitwise has filed a second amendment for its Hyperliquid ETF, setting the ticker to BHYP and the fee at 67 bps.
▶️Crypto News & Updates
🔷Kraken parent company Payward agreed to acquire Bitnomial for up to $550 million in cash and stock, securing a fully CFTC-licensed U.S. derivatives platform.
🔷Circle faces a class action lawsuit from Drift Protocol investors over alleged inaction during the $280 million exploit on April 1.
🔷Drift Protocol secured a proposed recovery package of up to $127.5 million from Tether, alongside roughly $20 million from other partners, to help compensate users after its $280 million exploit on April 1.
• The platform will also pivot from USDC to USDT for settlement at relaunch, marking a structural shift following the exploit and related fallout.
🔷X launched "Cashtags," enabling users to view live crypto and stock data directly within timeline posts.
• Cashtags are now available globally for iOS.
• Canadian users will see a built-in button linking to Wealthsimple, a Canadian brokerage, to trade assets from the app.
🔷Deutsche Borse Group, which operates major trading venues including the Frankfurt Stock Exchange, has invested $200 million in Payward, the parent firm of crypto exchange Kraken, securing a 1.5% stake and implying a roughly $13.3 billion valuation.
🔷Y Combinator, a prominent startup accelerator in Silicon Valley, completed its first fully stablecoin-funded deal, sending $500,000 in USDC on Solana to prediction markets startup Totalis.
🔷Tether has launched tether.wallet, a self-custodial digital wallet that directly brings its global payments and settlement infrastructure to end users. The wallet supports USD₮, USA₮, XAU₮ and Bitcoin across Ethereum, Polygon, Arbitrum, Plasma, and Bitcoin / Lightning Network, and enables transfers via human-readable usernames such as name@tether.me.
🔷Cowswap frontend was exploited. Team has now regained control.
🔷Kraken co-CEO Arjun Sethi said the company has confidentially filed for a U.S. IPO, confirming earlier reports.
🔷Bitcoin developers and researchers have proposed BIP-361, which suggests freezing early Bitcoin addresses considered to have quantum vulnerabilities—primarily P2PK addresses with publicly exposed public keys—to prevent future quantum computers from deriving private keys from public data and stealing funds.
🔷Tether Acquires 951 BTC, Total Holdings Reach 97,141 BTC — Fifth-Largest On-Chain Holder
🔷Kraken parent company Payward agreed to acquire Bitnomial for up to $550 million in cash and stock, securing a fully CFTC-licensed U.S. derivatives platform.
🔷Circle faces a class action lawsuit from Drift Protocol investors over alleged inaction during the $280 million exploit on April 1.
🔷Drift Protocol secured a proposed recovery package of up to $127.5 million from Tether, alongside roughly $20 million from other partners, to help compensate users after its $280 million exploit on April 1.
• The platform will also pivot from USDC to USDT for settlement at relaunch, marking a structural shift following the exploit and related fallout.
🔷X launched "Cashtags," enabling users to view live crypto and stock data directly within timeline posts.
• Cashtags are now available globally for iOS.
• Canadian users will see a built-in button linking to Wealthsimple, a Canadian brokerage, to trade assets from the app.
🔷Deutsche Borse Group, which operates major trading venues including the Frankfurt Stock Exchange, has invested $200 million in Payward, the parent firm of crypto exchange Kraken, securing a 1.5% stake and implying a roughly $13.3 billion valuation.
🔷Y Combinator, a prominent startup accelerator in Silicon Valley, completed its first fully stablecoin-funded deal, sending $500,000 in USDC on Solana to prediction markets startup Totalis.
🔷Tether has launched tether.wallet, a self-custodial digital wallet that directly brings its global payments and settlement infrastructure to end users. The wallet supports USD₮, USA₮, XAU₮ and Bitcoin across Ethereum, Polygon, Arbitrum, Plasma, and Bitcoin / Lightning Network, and enables transfers via human-readable usernames such as name@tether.me.
🔷Cowswap frontend was exploited. Team has now regained control.
🔷Kraken co-CEO Arjun Sethi said the company has confidentially filed for a U.S. IPO, confirming earlier reports.
🔷Bitcoin developers and researchers have proposed BIP-361, which suggests freezing early Bitcoin addresses considered to have quantum vulnerabilities—primarily P2PK addresses with publicly exposed public keys—to prevent future quantum computers from deriving private keys from public data and stealing funds.
🔷Tether Acquires 951 BTC, Total Holdings Reach 97,141 BTC — Fifth-Largest On-Chain Holder
Putting it all together
> attacker funds ETH to fresh wallet via tornado cash
> mints 116,500 rsETH (KelpDAO’s staked ETH) using LayerZero’s OFT bridge, that’s $280+ mil
> sends these rsETH to various lending protocols (most of it to aave) on ethereum and arbitrum, total borrow is $236 mil
> borrows WETH against rsEth
> KelpDAO freezes all rsETH contracts
> aave freezes rsETH & WETH markets
> everyone waiting for resolution currently
> aave sees $6+ billion of TVL withdrawal, token price dumps 20%
> justin sun offers to negotiate with the attacker on X
> attacker funds ETH to fresh wallet via tornado cash
> mints 116,500 rsETH (KelpDAO’s staked ETH) using LayerZero’s OFT bridge, that’s $280+ mil
> sends these rsETH to various lending protocols (most of it to aave) on ethereum and arbitrum, total borrow is $236 mil
> borrows WETH against rsEth
> KelpDAO freezes all rsETH contracts
> aave freezes rsETH & WETH markets
> everyone waiting for resolution currently
> aave sees $6+ billion of TVL withdrawal, token price dumps 20%
> justin sun offers to negotiate with the attacker on X
the attacker is still holding the eth borrowed from lending protocols- https://intel.arkm.com/explorer/address/0x5d3919F12bCc35c26Eee5F8226A9bee90c257Ccc
CT hasn't mentioned North Korea yet, so maybe it's not NK this time
And Brother Sun also offered to negotiate with the attacker on X, so maybe he's confident that it's not NK because you can't negotiate with NK
Could be a case where they recover the funds at a later point by tracking down the attacker (guessing)
Depends on how much opsec the attacker has been careful about
CT hasn't mentioned North Korea yet, so maybe it's not NK this time
And Brother Sun also offered to negotiate with the attacker on X, so maybe he's confident that it's not NK because you can't negotiate with NK
Could be a case where they recover the funds at a later point by tracking down the attacker (guessing)
Depends on how much opsec the attacker has been careful about
Deadlier Notes
the attacker is still holding the eth borrowed from lending protocols- https://intel.arkm.com/explorer/address/0x5d3919F12bCc35c26Eee5F8226A9bee90c257Ccc CT hasn't mentioned North Korea yet, so maybe it's not NK this time And Brother Sun also offered to negotiate…
LayerZero thinks it's Lazarus
Forwarded from Tree News (Tree News Bot)
ARBITRUM FREEZES 30,766 ETH LINKED TO SUSPECTED NORTH KOREAN AAVE, KELPDAO EXPLOITERS: https://x.com/arbitrum/status/2046435443680346189
Arbitrum FTW. I know this is a centralized move and decentralization is a theatre and all that. But would you rather have North Korea steal your funds?
▶️Crypto News & Updates
🔷Michael Saylor’s Strategy has acquired 34,164 BTC for ~$2.54 billion at ~$74,395 per bitcoin. Now holds 815,061 $BTC acquired for ~$61.56 billion at ~$75,527 per bitcoin.
🔷Tom Lee’s Bitmine buys 101,627 $ETH in its largest weekly purchase since December and lifts holdings to 4.98 million $ETH, about 4.1% of supply.
🔷An attacker drained approximately 116,500 rsETH, worth about $292 million, from Kelp DAO's LayerZero-powered bridge on Saturday by triggering a cross-chain message that released funds.
🔷The Arbitrum Security Council froze 30,766 ETH worth about $71 million tied to the Kelp DAO exploit. The funds will remain frozen unless further action is approved through Arbitrum governance, the team said.
🔷Wallets tied to the Kelp DAO exploiter begin laundering stolen assets across chains after Arbitrum's $71 million ether freeze.
🔷Aave outlined a base scenario where an approximate 15% rsETH depeg across all chains could generate about $124 million in bad debt following the Kelp DAO exploit, as the attacker used stolen rsETH as collateral to borrow WETH on the platform.
• The team also modeled a more severe case where Layer 2-based rsETH took an approximate 73% haircut, pushing bad debt to roughly $230 million.
🔷Funds continue to flow out of Aave, with $15.1 billion leaving the platform in three and a half days. Total deposits dropped from $48.5 billion before the incident to the current $30.7 billion, representing an outflow of approximately one-third of its capital.
🔷Lido stated that its EarnETH product has approximately 9% exposure to rsETH (~$21.6 million) via leveraged positions on Aave following the April 18 Kelp DAO incident.
🔷DoorDash partnered with Tempo to roll out stablecoin-powered payouts, initially focused on high-value payment flows such as merchant disbursements.
🔷The ENS-to-web gateway ethlimo published a post-mortem on Saturday tracing its Friday night DNS hijack to a social engineering attack against domain registrar EasyDNS.
🔷Kalshi is planning to launch crypto trading with perpetual futures.
🔷Michael Saylor’s Strategy has acquired 34,164 BTC for ~$2.54 billion at ~$74,395 per bitcoin. Now holds 815,061 $BTC acquired for ~$61.56 billion at ~$75,527 per bitcoin.
🔷Tom Lee’s Bitmine buys 101,627 $ETH in its largest weekly purchase since December and lifts holdings to 4.98 million $ETH, about 4.1% of supply.
🔷An attacker drained approximately 116,500 rsETH, worth about $292 million, from Kelp DAO's LayerZero-powered bridge on Saturday by triggering a cross-chain message that released funds.
🔷The Arbitrum Security Council froze 30,766 ETH worth about $71 million tied to the Kelp DAO exploit. The funds will remain frozen unless further action is approved through Arbitrum governance, the team said.
🔷Wallets tied to the Kelp DAO exploiter begin laundering stolen assets across chains after Arbitrum's $71 million ether freeze.
🔷Aave outlined a base scenario where an approximate 15% rsETH depeg across all chains could generate about $124 million in bad debt following the Kelp DAO exploit, as the attacker used stolen rsETH as collateral to borrow WETH on the platform.
• The team also modeled a more severe case where Layer 2-based rsETH took an approximate 73% haircut, pushing bad debt to roughly $230 million.
🔷Funds continue to flow out of Aave, with $15.1 billion leaving the platform in three and a half days. Total deposits dropped from $48.5 billion before the incident to the current $30.7 billion, representing an outflow of approximately one-third of its capital.
🔷Lido stated that its EarnETH product has approximately 9% exposure to rsETH (~$21.6 million) via leveraged positions on Aave following the April 18 Kelp DAO incident.
🔷DoorDash partnered with Tempo to roll out stablecoin-powered payouts, initially focused on high-value payment flows such as merchant disbursements.
🔷The ENS-to-web gateway ethlimo published a post-mortem on Saturday tracing its Friday night DNS hijack to a social engineering attack against domain registrar EasyDNS.
🔷Kalshi is planning to launch crypto trading with perpetual futures.
TradingView is running a Labor Day sale.
Discounts are more than last Black Friday Sale, which happened in November.
I got 70% off on my plan on renewing for a year. Black Friday usually gives 50% off.
Check it out.
Discounts are more than last Black Friday Sale, which happened in November.
I got 70% off on my plan on renewing for a year. Black Friday usually gives 50% off.
Check it out.
▶️Crypto News & Updates
🔷Other than Aave-Kelp_LayerZero 9-figure exploit, few more six and seven figure exploits have occurred in crypto in last few days.
🔷Tron founder Justin Sun said he filed a lawsuit against the Trump family-linked World Liberty Financial in California federal court, alleging the team wrongfully froze his WLFI tokens and stripped his governance rights.
🔷GSR launched its first exchange-traded fund last Wednesday, the Crypto Core3 ETF (BESO), offering actively managed exposure to Bitcoin, Ethereum, and Solana.
🔷Stablecoin issuer Tether froze more than $344 million in USDT across two Tron addresses after U.S. authorities flagged them for illicit activity.
🔷Admiral Samuel Paparo, the commander of U.S. forces in the Pacific, told the House Armed Services Committee the U.S. military is running a Bitcoin node to test cybersecurity and network defense capabilities.
🔷Metaplanet is issuing ¥8 billion ($50 million) in zero-interest bonds to fund additional bitcoin purchases.
🔷Michael Saylor’s Strategy acquired 3,273 BTC for ~$255.0 million at ~$77,906 per bitcoin. Now holds 818,334 $BTC acquired for ~$61.81 billion at ~$75,537 per bitcoin.
🔷Tom Lee’s Bitmine bought 101,901 ETH (~$234M) last week, pushing holdings to >5M ETH (4.21% of supply).
🔷Aave said Consensys and its founder Joseph Lubin have joined DeFi United, committing up to 30,000 ETH to support the rsETH recovery effort, with ongoing strategic advisory from Sharplink.
🔷DeFi United unveiled a coordinated plan to restore full backing for rsETH after the $292 million Kelp DAO exploit minted 116,500 unbacked tokens and destabilized DeFi markets.
• The coalition, led by Aave and backed by dozens of protocols, raised over $300 million in ETH to fund the recovery effort.
🔷Solana memecoin launchpad Pump.fun burned $370 million worth of PUMP tokens, eliminating about 36% of the circulating supply to address trust concerns. The platform also launched a new programmatic buyback-and-burn mechanism allocating 50% of net revenue to automatically.
🔷Believe App founder Benjamin Pasternak has been arrested in NY on charges of strangulation in the second degree and assault and is scheduled to appear in court on June 11.
🔷According to Protos, the world's largest adult website, Pornhub, has replaced USDT with USDC for creator payouts.
🔷Polish crypto exchange Zondacrypto CEO Przemysław Kral has fled to Israel and may be beyond extradition due to his Israeli citizenship. The exchange is reportedly on the verge of bankruptcy, with about 99% of its Bitcoin reserves missing.
🔷Litecoin said a zero-day vulnerability in its MimbleWimble Extension Block (MWEB) allowed non-updated nodes to validate an invalid transaction, enabling attackers to peg out funds and trigger a DoS attack on mining pools. The network executed a 13-block reorganization to reverse the invalid transactions, while valid transactions remained unaffected.
🔷Solana Foundation said its ecosystem has selected the Falcon post-quantum signature scheme following independent research by Anza and Jump Crypto, with an initial implementation completed. The foundation added that no protocol changes are currently required, but a defined migration path is in place if quantum computing advances.
🔷MoonPay acquired Israeli crypto security startup Sodot in an all-stock deal worth about $100 million and will launch MoonPay Institutional, a new unit focused on institutional demand for digital assets.
🔷Meta Rolls Out USDC Payouts to Creators in Colombia and the Philippines.
🔷Other than Aave-Kelp_LayerZero 9-figure exploit, few more six and seven figure exploits have occurred in crypto in last few days.
🔷Tron founder Justin Sun said he filed a lawsuit against the Trump family-linked World Liberty Financial in California federal court, alleging the team wrongfully froze his WLFI tokens and stripped his governance rights.
🔷GSR launched its first exchange-traded fund last Wednesday, the Crypto Core3 ETF (BESO), offering actively managed exposure to Bitcoin, Ethereum, and Solana.
🔷Stablecoin issuer Tether froze more than $344 million in USDT across two Tron addresses after U.S. authorities flagged them for illicit activity.
🔷Admiral Samuel Paparo, the commander of U.S. forces in the Pacific, told the House Armed Services Committee the U.S. military is running a Bitcoin node to test cybersecurity and network defense capabilities.
🔷Metaplanet is issuing ¥8 billion ($50 million) in zero-interest bonds to fund additional bitcoin purchases.
🔷Michael Saylor’s Strategy acquired 3,273 BTC for ~$255.0 million at ~$77,906 per bitcoin. Now holds 818,334 $BTC acquired for ~$61.81 billion at ~$75,537 per bitcoin.
🔷Tom Lee’s Bitmine bought 101,901 ETH (~$234M) last week, pushing holdings to >5M ETH (4.21% of supply).
🔷Aave said Consensys and its founder Joseph Lubin have joined DeFi United, committing up to 30,000 ETH to support the rsETH recovery effort, with ongoing strategic advisory from Sharplink.
🔷DeFi United unveiled a coordinated plan to restore full backing for rsETH after the $292 million Kelp DAO exploit minted 116,500 unbacked tokens and destabilized DeFi markets.
• The coalition, led by Aave and backed by dozens of protocols, raised over $300 million in ETH to fund the recovery effort.
🔷Solana memecoin launchpad Pump.fun burned $370 million worth of PUMP tokens, eliminating about 36% of the circulating supply to address trust concerns. The platform also launched a new programmatic buyback-and-burn mechanism allocating 50% of net revenue to automatically.
🔷Believe App founder Benjamin Pasternak has been arrested in NY on charges of strangulation in the second degree and assault and is scheduled to appear in court on June 11.
🔷According to Protos, the world's largest adult website, Pornhub, has replaced USDT with USDC for creator payouts.
🔷Polish crypto exchange Zondacrypto CEO Przemysław Kral has fled to Israel and may be beyond extradition due to his Israeli citizenship. The exchange is reportedly on the verge of bankruptcy, with about 99% of its Bitcoin reserves missing.
🔷Litecoin said a zero-day vulnerability in its MimbleWimble Extension Block (MWEB) allowed non-updated nodes to validate an invalid transaction, enabling attackers to peg out funds and trigger a DoS attack on mining pools. The network executed a 13-block reorganization to reverse the invalid transactions, while valid transactions remained unaffected.
🔷Solana Foundation said its ecosystem has selected the Falcon post-quantum signature scheme following independent research by Anza and Jump Crypto, with an initial implementation completed. The foundation added that no protocol changes are currently required, but a defined migration path is in place if quantum computing advances.
🔷MoonPay acquired Israeli crypto security startup Sodot in an all-stock deal worth about $100 million and will launch MoonPay Institutional, a new unit focused on institutional demand for digital assets.
🔷Meta Rolls Out USDC Payouts to Creators in Colombia and the Philippines.
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