The European Union’s ProtectEU initiative is establishing a two-tier digital security system that mandates on-device scanning before encryption, creating what critics call ‘digital feudalism’ where governments maintain encryption privileges while citizens face unprecedented surveillance. This controversial policy emerges alongside growing concerns about digital trust, highlighted by OpenAI CEO Sam Altman’s recent warnings about AI privacy and the U.S. Department of Homeland Security’s monitoring of these developments. The convergence of government surveillance mandates and artificial intelligence transparency issues represents a fundamental challenge to the trust underpinning digital society.
about EU's ProtectEU Mandates On-Device Scanning Before EncryptionWeb3 Foundation
0 in Finance and 0 in Crypto last week$3.4B in Ethereum Lost Forever Due to Errors
A staggering 913,111 ETH, worth approximately $3.43 billion, has been permanently lost due to user mistakes and smart contract vulnerabilities, as reported by Coinbase’s Conor Grogan. Major incidents include the Web3 Foundation losing 306,000 ETH in the Parity multisig wallet hack, QuadrigaCX losing 60,000 ETH, and the Akutars NFT project accidentally burning 11,500 ETH. Grogan notes this is a conservative estimate, excluding lost private keys or dormant Genesis wallets. Additionally, Ethereum’s EIP-1559 burn mechanism has permanently removed over 5.3 million ETH (worth $23.4 billion), exceeding 5% of all minted ETH. These irreversible losses highlight the risks in crypto asset management.
about $3.4B in Ethereum Lost Forever Due to Errors$3.4B in ETH Lost Forever Due to User Errors
Coinbase Product Director Conor Grogan revealed that over 913,111 ETH ($3.43B) has been lost forever due to user mistakes, representing 0.76% of circulating supply. Including burned ETH (EIP-1559), over 5% of total supply—worth $23.42B—has been destroyed. The analysis covers funds locked in irretrievable addresses, malfunctioning smart contracts (e.g., Parity wallet’s 306,000 ETH loss), and exchange failures like QuadrigaCX’s 60,000 ETH trap. Separately, CertiK’s 2025 report shows Ethereum as the top target for hacks, with $1.63B stolen across 175 incidents, driven by DeFi’s high-value smart contracts. Wallet compromises ($1.7B) and phishing ($410M) were the most damaging and frequent attack vectors.
about $3.4B in ETH Lost Forever Due to User ErrorsPolkadot No-Code Rollups: Fast, Sovereign, Enterprise-Ready
Asphere, Ankr’s enterprise unit, has partnered with the Web3 Foundation to introduce a ‘Rollup as a Service’ (RaaS) solution for Polkadot, allowing developers to launch sovereign, customizable rollups without coding. The platform features ready-made templates, enterprise-grade security, and full chain control—letting users set tokenomics and governance freely. This move aims to attract non-technical builders while Polkadot’s ecosystem grows, despite regulatory delays like the SEC’s postponed DOT ETF decision. Meanwhile, DOT’s price shows modest gains amid broader Polkadot adoption in gaming and stablecoins.
about Polkadot No-Code Rollups: Fast, Sovereign, Enterprise-Ready