The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
BidenCash operators allegedly used the platform to simplify the process of buying and selling stolen credit cards and personal information.
The crypto exchange said the Singapore High Court declined its proposed restructuring plan following a $230 million exploit last year.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The largest crypto loss in May came from Cetus Protocol, which lost an about $225 million, although the protocol recovered $162 million from Sui validators.
Force, a cross-chain bridge on Nervos Network, has lost about $3 million in ETH, stablecoins, and wrapped BTC in an apparent DeFi hack.
ZachXBT said there were suspicious outflows from hot wallets on multiple networks including Tron, Ethereum, Solana and Polygon.
BitMEX's investigation allegedly discovered new insight into the group's inner workings and “significant lapses in operational security.”
Cetus eyes full protocol resumption in a week after a Sui community proposal to return frozen funds passed with 90% backing from stakers and validators.
Some onlookers think this decentralized market function could be improved either through stablecoin price caps or "more resilient" algorithms.
Cork Protocol, a DeFi venue for trading depeg events, paused its contracts after exploits withdrew some $12 million in wrapped staked ether.
Euler has introduced EulerSwap, a new decentralized exchange that fuses automated market-making with lending infrastructure.
Cetus stated it can use its cash and token reserves, as well as a Sui Foundation loan, to recover stolen assets from its recent exploit — depending on a forthcoming community vote.
Cetus plans to bolster security through rigorous testing, expanded audits, and a strengthened bug bounty program.
One Instagram post explicitly claimed Gokal 'should have' paid 40 BTC, suggesting a potential blackmail attempt.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Cetus said it worked with law enforcement agencies, exchanges and cross-bridge protocols to freeze all stolen funds that remain on Sui.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Tokens, including LOFI, HIPPO, and CETUS itself, dropped more than 50% over the past hour on decentralized exchanges.
ZachXBT said a wallet involved in social engineering attacks on Coinbase users sent him a troll text onchain following this week's data breach disclosures.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Crypto exchange Coinbase disclosed that the data breach revealed last week happened in December 2024 and impacted 69,461 users.
Chainalysis said the shutdown of illicit online marketplace Haowang Guarantee did not fundamentally impact the network of crypto scammers.
Votor will enable nodes to run two concurrent voting paths in parallel, theoretically boosting transaction speed and scalability.
The program kicks off with 10 top-tier researchers starting with LonelySloth — who has generated $3.6 million in earnings on Immunefi.
Attackers reportedly tried bribing support agents, but Binance and Kraken’s internal systems blocked the attempts.
The so-called "AWS of blockchain" has acquired Solana infrastructure provider DexterLab used by Google, Chainstack, and the Solana Foundation.
Binance and Kraken were also targets of social engineering attacks targeting Coinbase customer service representatives.
Ripple’s bid to wrap up its long‑running fight with the US Securities and Exchange Commission hit a snag on May 15. A federal judge in New York tossed out the deal because it was filed the wrong way. This hiccup doesn’t change past rulings, but it does force both sides back to the drawing board. Related Reading: Ticking Clock To $200K: Bitwise CIO Predicts Bitcoin’s Price Explosion Court Blocks Settlement Motion According to court papers, Judge Analisa Torres ruled that Ripple and the SEC used the wrong rule to ask for a change. They tried to dissolve an injunction and chop a $125 million fine down to $50 million. But under Rule 60, you need to prove “exceptional circumstances” when you’re asking to revisit a final order. Without that proof, the judge said the motion was “procedurally improper” and tossed it. Nothing in today’s order changes Ripple’s wins (i.e. XRP is not a security, etc). This is about procedural concerns with the dismissal of Ripple’s cross-appeal. Ripple and the SEC are fully in agreement to resolve this case and will revisit this issue with the Court, together. https://t.co/vBQdBD3FNe — Stuart Alderoty (@s_alderoty) May 15, 2025 Source: US District Court Southern District NY/SEC. Parties Must Refile Under Rule 60 Based on reports from attorney James Filan on X, Ripple and the SEC agreed on the deal back on May 8. They even filed papers together. Yet, they skipped the part about showing why they should get a do‑over. Now, both sides have to write up a new motion. Fred Rispoli, another lawyer, said they’ll have to “do it the hard, messy way” by following the rule book. That means spelling out why a final court decision needs a second look. Market Reacts With Price Drop When word got out, XRP took a hit. The price slid about 2.5% in a single day. Open interest also fell by 9% to $4.90 billion, according to CoinGlass data. Long positions worth over $21 million were wiped out as traders scrambled to cut losses. Short‑term traders are watching a key support level at $2.35. If that line holds, we might see a bounce. If it breaks, prices could dip even further. XRP price down in the last 24 hours. Source: Coingecko Legal Wins Remain Intact Ripple’s chief legal officer, Stuart Alderoty, reminded everyone that past victories are safe. In 2023, a judge ruled that XRP wasn’t a security in programmatic sales. Institutional sales still count as securities, but retail sales were cleared. Alderoty said on X that this recent setback is just about “procedural concerns with the dismissal of Ripple’s cross‑appeal.” He made it clear that nothing in that ruling takes away what Ripple already won. Related Reading: Dogecoin’s $1 Dream: Analyst Reveals When It Could Finally Happen Next Steps For Ripple And SEC Now, both sides face a longer road ahead. They’ll need to gather evidence for a new Rule 60 motion. That could push any final settlement into late summer or beyond. Until then, traders will keep their eyes on court calendars and price charts. Featured image from Bankless Times, chart from TradingView
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.