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Arbitrum Freezes $71 Million in Ether Linked to Kelp DAO Exploitation

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Part of the Kelp DAO move is no longer going anywhere. Arbitrum’s Security Council on Monday night froze 30,766 ETH worth about $71 million, moving funds tied to Saturday’s $292 million rsETH exploit into an intermediate wallet that can only be accessed through further Arbitrum governance actions. rsETH is a floating restaking token issued by […]

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BTC Price Faces Sell News Risk After Rebound

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Like bitcoin BTC$75,811.94 heading into this year’s flagship Bitcoin conference in Las Vegas next week, traders will be looking for a familiar pattern, a potential “sell-the-news” event that has played out in previous years. The largest cryptocurrency is trading around $75,000, recovering from a local low of around $60,000 in early February after collapsing more

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BTC Jumps Above $76,000 As DeFi Suffers $14 Billion Exodus After Major Hack

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Bitcoin BTC$76,006.88 held above $76,000 on Monday, rebounding from overnight lows as the broader crypto market remained steady despite war risks in Iran. The largest cryptocurrency rose about 2.4% over the past 24 hours, recovering from a dip below $74,000 earlier in the session. Ether (ETH), XRP, Solana (SOL) and other major altcoins also mirrored

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Aave could face up to $230M in losses after Kelp DAO bridge exploit sparks DeFi chaos

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The Kelp DAO and LayerZero bridge exploit that took place over the weekend has left lending protocol Aave with potential losses of up to $230 million, depending on how the situation is resolved. The incident, according to a report by Aave Labs and service provider LlamaRisk published on Aave’s governance forum, centers on rsETH, a

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North Korea’s crypto playbook expands and DeFi continues to take a hit

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Less than three weeks after hackers linked to North Korea used social engineering to target crypto trading firm Drift, it appears hackers linked to the nation have pulled off another major exploit with Kelp. The attack on Kelp, a restaking protocol tied to LayerZero’s cross-chain infrastructure, suggests an evolution in how North Korea-linked hackers operate,

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Crypto week ahead

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Crypto enters the new week with its Friday rally on shakier ground. The announced reopening of the Strait of Hormuz sent oil lower and pushed up risk assets, including bitcoin and the broader crypto market. The opening reversed on Saturday, when Iran fired at ships trying to pass and the US seized an Iranian-flagged tanker

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Global stablecoin rules slow as BIS calls for cooperation to avoid fragmentation risks

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Work on global standards for stablecoins has slowed over the past year, raising concerns among central bankers that gaps in oversight could split markets and amplify risk. Bank of England Governor Andrew Bailey, who chairs the Financial Stability Board, said progress on international rules has stalled, Reuters reported last week. That’s a concern, Bank for

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Kelp DAO hits back at LayerZero to try to shift blame after massive exploit

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The popular Spiderman meme showing three identical superheroes pointing fingers at each other is having its crypto moment today. The Kelp DAO is set to push back on LayerZero’s autopsy of Sunday’s $290 million exploit, which essentially blames Kelp, an L2 source familiar with the matter told CoinDesk. Kelp plans to challenge the messaging firm

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