A U.S. federal judge ordered Circle to blacklist Zama's cUSDC contract, freezing about $12.6 million in pooled USDC funds due to a class action lawsuit against Overnight Finance's creator, Maxim Ermilov. Plaintiffs allege Ermilov moved $15.77 million from a shared treasury just before a governance vote to liquidate funds passed. The freeze affected all users in the pooled contract, not just the disputed funds, prompting Zama to pause related contracts and investigate. The case highlights legal risks for pooled DeFi contracts and will proceed with a hearing on June 1 to resolve the dispute.
Bonzo Finance, Hedera's largest lending protocol, lost about $9.05 million after an attacker exploited a flaw in a third-party price oracle's signature verification. The attacker manipulated the SAUCE token price, using only 250 SAUCE tokens as colla...
Hyundai is testing stablecoins USDT and USDC for faster internal transfers between its subsidiaries, reducing transfer times from hours to about 7 minutes. The pilot with Tether's USDT showed superior speed and stability compared to traditional bank ...
Circle, issuer of USD Coin (USDC), received approval to operate as a federally regulated trust bank in the U.S., marking a key step toward stronger regulatory oversight and deeper ties between stablecoins and mainstream finance. This approval may exp...
Hyundai Card, Hyundai Motor Group's financial arm, successfully completed a $20,000 USDT transfer between its US and Mexico subsidiaries on the Avalanche blockchain in just seven minutes, compared to the usual 3-4 hours via traditional bank wire. Thi...
Cryptocurrency markets display varied price changes, with Bitcoin trading near $62,833, up 0.99%, and Ethereum around $1,744, up 0.24%. Other notable coins like Binance Coin and Avalanche also show modest gains, while some altcoins experience slight ...
