The Kelp DAO and LayerZero bridge exploit that occurred over the weekend has left lending protocol Aave facing potential losses of up to $230 million, depending on how the situation is resolved. The incident, according to a report from Aave Labs and service provider LlamaRisk published on the Aave governance forum, centers on rsETH, a…
Less than three weeks after North Korea-linked hackers used social engineering to hit crypto trading firm Drift, hackers tied to the nation appear to have pulled off another major exploit with Kelp. The attack on Kelp, a restaking protocol tied into LayerZero’s cross-chain infrastructure, suggests an evolution in how North Korea-linked hackers operate, not just…
Crypto adoption in the U.S. has staged a comeback, even as sentiment around prices remains cautious, according to German lender Deutsche Bank (DB). In a new retail survey spanning 3,400 consumers across the U.S., U.K. and EU, the bank said U.S. participation rebounded to 12% in March from a February low of 7%, returning to…
Blockchain sleuth ZachXBT wrote on Sunday that the team behind RaveDAO is at least aware of who manipulated the price of its token, which saw an impossible 11,000% surge in price followed by a near immediate collapse. “I found suspicious CEX (centralized crypto exchanges) activity on April 26 tied to RaveDAO team addresses onchain, which…
Global liquidity is set to deteriorate sharply, according to Russell Thompson, chief investment officer at crypto asset manager Hilbert Group (HILB), who said even a quick geopolitical resolution in Iran is unlikely to sustain a rally in risk assets without policy support. Liquidity conditions have stabilized in parts of the financial sector following the rollout…
Bitcoin and other risk assets have become increasingly sensitive to statements from U.S. President Donald Trump, with markets often swinging upward or downward within minutes of his social media posts or policy announcements to the news media. This has drawn scrutiny from lawmakers, academics and market experts, as questions mount over whether those price movements…
Reabold Resources, an investment company focused on developing European gas projects, said it is considering establishing a gas-powered bitcoin BTC$75,664.09 mining station in northern England. The London-based company is exploring the potential to deploy a small power plant as a pilot for future data-center developments that are “crucial to the future U.K. economy,” it said…
Abu Dhabi-regulated tokenization firm KAIO said Monday it had raised $8 million in a strategic funding round backed by Tether and several other crypto and institutional investors, as it builds infrastructure to bring traditional funds onto blockchain rails. The round brings KAIO’s total funding to $19 million. New investors include Systemic Ventures, while Further Ventures…
BitMine Immersion Technologies (BMNR), the largest Ethereum-focused digital asset treasury firm, increased its crypto purchase pace as Chairman Tom Lee said he sees growing signs the crypto “mini-winter” is ending. The firm reported Monday it bought 101,627 ether (ETH) last week, the largest weekly haul since Dec. 15. The purchase, worth roughly over $230 million…
Crypto heads into the new week with its Friday rally on shakier ground. The announced reopening of the Strait of Hormuz sent oil lower and pushed risk assets higher, including bitcoin and the wider crypto market. The opening reversed on Saturday, with Iran firing at ships attempting to pass and the U.S. seizing an Iranian-flagged…
