MIT Brothers’ $25M Crypto Heist in 12 Seconds Revealed

Two MIT-educated brothers allegedly orchestrated one of the most sophisticated cryptocurrency thefts in recent memory, stealing $25 million in just 12 seconds by exploiting a vulnerability in Ethereum’s MEV-Boost protocol. Their former employee, Travis Chen, testified in Manhattan federal court about the elaborate scheme that targeted automated trading bots, revealing how the brothers spent months planning an operation they called “Omakase” that ultimately led to wire fraud and money laundering conspiracy charges carrying up to 20 years in prison.

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OneBalance Secures $20M to Simplify Cross-Chain Crypto UX

OneBalance, a developer platform for multichain applications, has secured $20 million in Series A funding to address the fragmented user experience (UX) in crypto. The investment, led by cyber•Fund and Blockchain Capital with participation from Bybit’s Mirana Ventures and L2IV, will support the launch of OneBalance’s Toolkit. This technology enables one-click cross-chain transactions, eliminating the need for users to manage bridging or gas tokens. Founded by ex-Coinbase engineers and Flashbots contributors, OneBalance aims to boost app conversions by streamlining DeFi interactions.

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How Sandwiched.wtf Helps Track MEV Bot Losses

Sandwiched.wtf is a tool designed to help crypto traders identify losses caused by MEV (Miner Extractable Value) traders and bots that manipulate transactions on decentralized exchanges like Uniswap. The platform analyzes sandwich attacks—where bots insert trades before and after a user’s transaction to profit at their expense. It calculates total losses by aggregating profits made by these bots, converting token values to ETH using Coingecko APIs. Additionally, the review highlights MistX.io as a solution to avoid sandwich attacks by using Flashbots and private mempools. The article also explains key concepts like MEV, arbitrage bots, and how traders can protect themselves from front-running in DeFi.

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Lido Proposes Dual Governance to Empower stETH Holders

Lido, Ethereum’s largest liquid staking platform, has introduced Lido Improvement Proposal 28 (LIP-28), a Dual Governance framework to empower stETH holders in protocol decisions. Currently, only LDO token holders can vote, leaving stETH holders without formal influence. The proposal introduces a timelock mechanism, allowing stETH holders to lock their tokens in escrow to delay or block contentious proposals. If escrowed deposits reach 1% of Lido’s TVL, a delay period begins; at 10%, proposals enter a ‘rage quit’ state, pausing execution. This model aims to give stETH holders a voice while maintaining protocol stability. The upgrade has been hailed as a significant step toward more inclusive governance in DeFi.

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Jesse Walden: From Music to Web3 Ownership Economy

Jesse Walden’s career evolution—from managing musicians to founding Variant Fund—exemplifies the transformative potential of Web3. After launching Mediachain Labs (acquired by Spotify) and working at Andreessen Horowitz, he identified a gap in crypto investing: a lack of focus on user ownership. Variant Fund now backs projects like Uniswap and Mirror, prioritizing platforms where users hold equity. Walden’s philosophy, rooted in his music industry experience, emphasizes decentralized control and community-driven value creation. His quiet yet impactful approach positions him as a key architect of the ownership economy, proving that non-technical visionaries can shape the future of the internet.

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New Algorithm Proposed to Combat Insider Trading on Ethereum Network

Ethereum researcher Malik672 has proposed a new algorithm to combat insider trading and centralization on the network by utilizing a decentralized random block proposal system. This approach aims to eliminate Maximal Extractable Value (MEV) by allowing all Ethereum clients to construct blocks through a cryptographically random algorithm, enhancing fairness and democratization. However, potential drawbacks include increased computational overhead, risks of Sybil attacks, and greater decision-making complexity among block builders.

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Crypto Transfers in Europe Face Increased Restrictions and Compliance Measures

Crypto transfers in Europe are facing significant restrictions due to stringent identification measures linked to the Travel Rule. Platforms like Coinbase and OKX require users to verify sender identities and sign messages for transactions, raising concerns about account freezes. Additionally, some banks, such as Banco of Investimentos Globais in Portugal, are blocking fiat transfers to crypto platforms to comply with European regulatory guidelines.

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Ethereum Faces Challenges in Price Recovery Amidst Market Sentiment and Competition

Ethereum’s price faced a 20.7% correction, dropping to $2,924, which led to significant liquidations. Despite this, derivatives indicate strong interest from buyers, though the asset struggles to reclaim $3,200, delaying confidence in a rally towards $3,600. High transaction fees and competition from Solana and BNB challenge Ethereum’s dominance, while its future growth relies on the progress of its roadmap.

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Hasu’s Impact on Decentralized Finance Through Strategy and Innovation

Hasu, a prominent figure in decentralized finance (DeFi), has significantly influenced the sector through his strategic roles at Flashbots and Lido Finance, focusing on governance and staking solutions. His analytical prowess and ability to simplify complex concepts have established him as a thought leader, while his advocacy for transparency in crypto operations highlights the challenges within centralized exchanges. As DeFi evolves, Hasu continues to shape its landscape with a blend of vision and pragmatism, driving innovation and fostering community engagement.

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