Author: AltCoinDrops.com
KelpDAO’s $300 million exploit now looks more like a Layer 2 failure than a direct break on the Ethereum mainnet, as fears of DeFi contagion from interactions across chains rise in the community. Sources who have been granted anonymity reached out to Cryptopolitan and said they had “confidence that Core L1 ETH is not impacted” and that the issue “sits on L2s.” The attack began after a wallet funded through Tornado Cash’s 1 ETH pool waited about ten hours, then called lzReceive on LayerZero’s EndpointV2 contract. That triggered KelpDAO’s bridge logic and released 116,500 rsETH to an attacker’s wallet. The…
Spot Bitcoin exchange-traded funds have recorded their strongest weekly inflows in several months. Summary Bitcoin ETFs recorded nearly $1 billion inflows, marking strongest weekly performance since mid-January period. Ethereum and XRP ETFs followed with steady inflows, reflecting renewed investor interest across crypto markets. Rising ETF demand coincides with improved sentiment but ongoing geopolitical uncertainty still affects market stability. Data shows that nearly $1 billion entered these funds over the past week, marking the best performance since mid-January. April 17 stood out as the most active day, with over $663 million in net inflows. Among the leading products, BlackRock’s IBIT attracted…
They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved…
In brief Aave users struggled to withdraw funds from Aave after attackers borrowed with stolen rsETH on the platform, spiking a core market’s so-called utilization rate. The funds were plundered from a LayerZero-powered bridge, in what onlookers described as DeFi’s biggest exploit so far this year. Early Sunday, DefiLlama’s 0xngmi said Aave had faced $6.2 billion in net withdrawals, while Spark’s monetsupply.eth pointed to “negative secondary effects.” Less than a day after attackers drained $291 million in crypto from infrastructure linked to decentralized finance project Kelp DAO, users on Aave, one of DeFi’s most battle-tested protocols, struggled to withdraw funds…
A hacker funded his wallet through Tornado Cash on Saturday, waited 10 hours, and then executed a transaction that siphoned $292 million from KelpDAO. By the time anyone noticed, the money was gone. And by the time KelpDAO paused, two more attempts had failed within minutes. KelpDAO hacker wanted to drain $391 million The wallet that carried out the attack was funded through Tornado Cash’s 1 ETH pool. This is a standard obfuscation step that seeded the address with clean gas money. The wallet called lzReceive on LayerZero’s EndpointV2 contract, and KelpDAO’s OFT bridge released 116,500 rsETH to a separate…
The article title asks whether SPELL can make a comeback. Let’s answer that question directly before doing anything else. For SPELL to “come back” in any meaningful sense, three things would need to happen simultaneously: Abracadabra.money would need to stop getting hacked (three exploits totalling over $21 million in the last 18 months), the protocol’s annual token inflation of approximately 60% would need to be overcome by demand growth, and the broader DeFi lending market — where Abracadabra competes against Aave with $74 billion TVL compared to Abracadabra’s $154 million — would need to rotate capital toward smaller, less audited…
TLDR: Strategy proposes semi-monthly STRC dividends to stabilize price and reduce cyclical volatility for investors. No changes to STRC’s annual dividend rate or total obligations are included in the proposed payment restructuring. STRC funds Strategy’s Bitcoin purchases without diluting MSTR common shares through new equity issuance. Strategy holds 780,897 BTC worth $60.7 billion as Bitcoin rallies past $78,000 at proposal time. Strategy has proposed shifting its STRC preferred stock dividends from monthly to semi-monthly payments. The change, outlined in a preliminary proxy filing, aims to stabilize prices and reduce volatility. No adjustment to the annual dividend rate or total obligations…
What started as a way to hedge against inflation and ride crypto volatility has slowly turned into something more useful. Instead, projects are now focusing on real utility and building actual use cases. To handle traffic and keep networks secure, L1s are rolling out L2 solutions. However, it’s not just altcoins getting in on this. Bitcoin [BTC] is no stranger to this trend, with upgrades bringing more real utility to the table. At the heart of this shift is the Nakamoto upgrade. Rolled out as a hard fork in 2024, it changed how Stacks works with Bitcoin, producing new blocks…
A cross-chain bridge holding nearly a fifth of a restaked ether token’s circulating supply just got drained, and the fallout is moving through DeFi faster than Kelp DAO can pause contracts.An attacker drained 116,500 rsETH (restaked ether) from Kelp DAO’s LayerZero-powered bridge at 17:35 UTC on Saturday, worth roughly $292 million at current prices and representing about 18% of rsETH’s 630,000 token circulating supply tracked by CoinGecko.LayerZero is a cross-chain messaging layer, or the infrastructure that lets different blockchains send verified instructions to each other. Kelp DAO is a liquid restaking protocol, which takes user-deposited ETH, routes it through EigenLayer…
Flow Capital Partners, a Hong Kong-based alternative asset manager, plans to offer shares of its $150 million private credit fund onchain through real-world asset tokenization platform DigiFT. Bloomberg reported Friday that Flow Capital intends to make the fund — originally launched in June 2025 — available onchain by the end of this month. It is also seeking to raise an additional $30 million in tokenized shares by the end of this year. Jacky Tian, chief investment officer of Flow Capital, said the company aims to scale the fund to $250 million by the end of 2026, according to the report.…