Web3

Web3

Web3

SecondFi to shut down after $2.4 million ADA wallet theft

The breach stemmed from a vulnerability in transaction signing software that enabled the derivation of private keys from blockchain transaction data.

Glasses in front of monitors with code (Kevin Ku/Unsplash)

Finance

Cross-chain protocol Allbridge halts after $1.65 million flash loan exploit

The attacker used a $1.12 million flash loan from Kamino to manipulate pool ratios, enabling them to withdraw assets at favorable rates before bridging funds.

Glasses in front of monitors with code (Kevin Ku/Unsplash)

Web3

Here is why a massive $1.6 billion in crypto liquidity is sitting idle and wasting away

About $542 million weekly sat outside active trading ranges, meaning this capital earned zero fees and provided no market depth.

Most of DeFi's "tracked" liquidity remains under utilised. (Dune/1inch)

Web3

Lending protocol Bonzo loses 77% of value locked as $9 million oracle exploit rattles Hedera

Bonzo Lend lost approximately $9.05 million after an attacker exploited a verification flaw in a third-party Supra oracle contract on the Hedera network.

Glasses in front of monitors with code (Kevin Ku/Unsplash)

Finance

Over $7.2 billion have migrated from LayerZero to Chainlink CCIP as Mantle joins exodus

Migrations to Chainlink CCIP so far include Kelp and Lombard, both of which brought over $1 billion, as well as Solv Protocol, Virtuals, Re and Kraken’s tokenized assets.

People migrating (Sébastien Goldberg/Unsplash)

Web3

BNB Chain is building a new layer-1 for high-frequency trading and AI agents

The network aims to process over 100,000 transactions per second by streaming them directly, eliminating public queues to make trades faster and more secure.

AI chip (Igor Omilaev/Unsplash)

Web3

DeFi protocol Summer.fi halts Lazy Summer vaults after $6 million exploit

The protocol’s SUMR token fell by over 18% after the incident.

Beach in the summer (Sean Oulashin/Unsplash)

Finance

Fifth-generation Kanoo group member is moving a $6 trillion trade market onto blockchain rails

Abdulla Kanoo says his ARP Digital firm is building settlement infrastructure for the growing flow of trade between emerging economies, a market that could reach $32 trillion by 2030.

(Kanoo Group)

Policy

Paxos wins SEC approval to clear U.S. stocks on blockchain

Paxos new license positions it alongside legacy giants such as DTCC and makes it a compelling, more efficient alternative for traditional finance giants than legacy competitors.

Paxos CEO Charles Cascarilla (Danny Nelson/CoinDesk)

Tech

Sui blockchain suffers another network outage as transactions grind to a halt

This is the second time this year that the Sui network has suffered an outage.

(Nadine Shaabana/Unsplash)