KelpDAO's cross-chain bridge was exploited on April 18 due to a critical vulnerability: it relied on a single verifier to authenticate transactions. Attackers drained 116,500 rsETH (about $292 million) by forging transaction messages, causing over $10 billion in DeFi withdrawals across protocols. The breach was linked to North Korea's Lazarus Group and involved compromising LayerZero's internal nodes and a DDoS attack to isolate the system. Partial recovery of $71 million has been made, and the incident highlights the risks of single-verifier setups in cross-chain bridges, prompting calls for multi-verifier configurations to improve security.
Aave's V4 protocol on Ethereum now distributes USDe rewards within the Ethena ecosystem, enhancing incentives for DeFi users to engage with the synthetic dollar system. This integration supports leveraged yield strategies called "Aavethena," where us...
Pendle became the second-largest DeFi protocol on OKX's XLayer in less than 30 days, reaching $37.5 million in total value locked (TVL). This rapid growth was driven mainly by a single USDG stablecoin market and integration with Aave V3, which allowe...
Jupiter (JUP) surged 18.86% to $0.2670, leading crypto market gains due to growing interest in its blockchain solutions focused on data privacy and security. Other notable gainers included Zcash, Bittensor, NEAR Protocol, and Polkadot, while Pons and...
Kalshi, a CFTC-regulated platform, introduced perpetual futures contracts for BNB on September 4, allowing eligible US investors to trade BNB as a regulated derivative. This addition is part of a broader expansion including altcoins like Cardano and ...
When Bitcoin collateral is liquidated in DeFi lending, the protocol sells or transfers BTC-linked tokens like WBTC, tBTC, or sBTC to repay borrower debt. This process reduces both debt and collateral but may not fully cover the loan, potentially leav...
