Switchboard, a multi-chain oracle protocol, stopped operations on Aptos, Sui, IOTA, and Movement networks after detecting a security breach involving a compromised oracle key on IOTA. This breach allowed an attacker to inflate IOTA's price to $10 million, mint nearly 5 million VUSD, and trigger liquidations and protocol freezes, affecting 45 users. The incident highlights risks in oracle security, as the attacker manipulated price data directly by accessing the oracle key. Switchboard is investigating the breach and advising users to seek alternative oracles temporarily, while protocols relying solely on Switchboard face operational disruptions until the issue is resolved.
Aptos has integrated Circle's Cross-Chain Transfer Protocol V2 (CCTP V2), enabling USDC transfers to settle in seconds instead of minutes. This upgrade connects Aptos to nine other blockchains and uses a burn-and-mint system to issue native USDC dire...
Cryptocurrency prices are fluctuating with Bitcoin trading around $78,338, slightly down by 0.40%. Ethereum and Binance Coin show small gains, while several altcoins such as XRP, ADA, and SOL experience notable declines, some exceeding 3%. These mixe...
