Hyperliquid, a decentralized perpetual futures exchange, temporarily suspended Arbitrum-based deposits and withdrawals on Wednesday after a community-owned vault suffered nearly $5 million in losses. The incident appears linked to potentially malicious trading activity involving meme coin Popcat, raising serious questions about risk management and decentralization in the DeFi sector. The exchange manually intervened to close positions amid escalating concerns about market manipulation.
about Hyperliquid Pauses Arbitrum After $5M Vault LossConor Grogan
0 posts last week$116M Balancer Hack: Sophisticated Attack Used Tornado Cash
The $116 million exploit of decentralized exchange Balancer represents one of the most sophisticated DeFi attacks this year, with new onchain analysis revealing the hacker utilized Tornado Cash mixer and months of careful preparation to execute the massive theft without leaving detectable traces. The meticulously planned operation, which drained approximately $116 million worth of digital assets from the automated market maker platform, points to an experienced actor who employed advanced evasion techniques that highlight persistent security vulnerabilities in the decentralized finance ecosystem.
about $116M Balancer Hack: Sophisticated Attack Used Tornado CashBinance’s $200K Crypto Donation Grows to $37M Unclaimed
A $200,000 cryptocurrency donation made by Binance to a Maltese cancer charity in 2018 has appreciated to approximately $37 million but remains inaccessible due to unresolved verification requirements. The funds have been sitting dormant in the receiving wallet for six years despite their extraordinary growth, with Coinbase executive Conor Grogan recently highlighting the situation and calling for local authorities to help resolve the dispute.
about Binance's $200K Crypto Donation Grows to $37M UnclaimedHayden Davis Accused of $12M YZY Token Snipe Operation
Bubblemaps’ investigation alleges Hayden Davis (aka Kelsier) executed a coordinated sniping operation on Kanye West’s YZY token just minutes after its launch, using 14 interconnected wallets that purchased tokens beginning at 1:54 AM UTC. The operation generated approximately $12 million in profits through precisely timed transactions funded from centralized exchanges. This occurred just days after a US judge unfroze $57.6 million in USDC stablecoins tied to Davis’s previous LIBRA token scandal. The YZY token experienced extreme volatility, reaching nearly $3 billion market capitalization before collapsing over 90% within hours, with independent analysis suggesting 94% of initial supply was controlled by insiders. While Bubblemaps couldn’t confirm insider information, they documented clear coordination patterns resembling Davis’s previous involvement in MELANIA and LIBRA token launches.
about Hayden Davis Accused of $12M YZY Token Snipe OperationZora Surpasses Solana in Token Launches, Hits Record High
Zora, a token launchpad on Coinbase’s Ethereum layer-2 network Base, set a new record by creating 51,575 tokens in a single day, surpassing Solana’s Pump.fun and LetsBonk. This marks the first time since early 2023 that a chain other than Solana has led in token launches. Unlike Pump.fun, which focuses on speculative token creation, Zora turns every social media post into a tradable token, blending content virality with crypto trading. While Pump.fun’s market share has dwindled due to bot-driven rug pulls, Zora’s model emphasizes authentic engagement, with artists like Jack Butcher gaining traction. The platform’s unique approach could redefine how social media and crypto intersect.
about Zora Surpasses Solana in Token Launches, Hits Record High$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 ErrorsLost Ether Surges 44% to $3.43B Due to Errors & Bugs
A recent analysis by Coinbase’s Conor Grogan reveals that Ether (ETH) lost due to bugs and user errors has increased by 44% since March 2023, reaching 913,111 ETH—worth approximately $3.43 billion at current prices. This accounts for 0.76% of ETH’s circulating supply. Additionally, when factoring in the 5.3 million ETH destroyed via EIP-1559 since 2021, the total share of lost ETH becomes even more significant. The findings highlight the persistent risks of human error and technical vulnerabilities in crypto transactions.
about Lost Ether Surges 44% to $3.43B Due to Errors & BugsDormant Bitcoin Whale Moves $5B, Sparks Market Buzz
A Bitcoin whale that had been dormant for 14 years has made headlines again by transferring nearly $5 billion worth of BTC. The two wallets, each holding 10,000 BTC since 2011, were emptied earlier this month, with one now moving 40,000 BTC—part of which was sent to exchanges, likely for selling. Analysts speculate the wallets could be tied to a past hack, noting test transactions on the Bitcoin Cash network before the large transfer. Dusting attacks over the years suggest attempts to uncover the wallets’ owners. The activity has reignited curiosity about dormant addresses, including possible links to Bitcoin’s mysterious creator, Satoshi Nakamoto. Bitcoin’s price dipped slightly amid the news, trading at $117,195 at the time of reporting.
about Dormant Bitcoin Whale Moves $5B, Sparks Market BuzzBots Dominate Memecoin Launches on Pump.fun & LetsBonk
According to Coinbase executive Conor Grogan, the majority of memecoins launched on Pump.fun and LetsBonk are created by automated bots. Grogan shared data indicating that top accounts on LetsBonk were launching a new token every three minutes on average. This trend highlights the growing role of automation in the memecoin space, raising questions about market manipulation and the long-term viability of such tokens. The findings suggest that investors should exercise caution when engaging with these rapidly generated assets.
about Bots Dominate Memecoin Launches on Pump.fun & LetsBonkOld Bitcoin Whale Wallets Awaken: Hack Suspected
Coinbase director Conor Grogan has raised concerns that the sudden movement of $8 billion in Bitcoin (BTC) from long-dormant whale wallets may be linked to a hack. On-chain analysis reveals a test transaction on the Bitcoin Cash (BCH) network just hours before the massive BTC transfer, potentially indicating an attempt to avoid detection. Grogan speculates that the BCH test was a way to verify access to the wallet before moving the BTC, as the wallets had not been touched since Bitcoin was priced at $0.78. The lack of movement in other BCH wallets and the manual nature of the BTC transfers further fuel suspicions of foul play. This incident highlights the risks associated with inactive crypto wallets and the importance of robust security measures.
about Old Bitcoin Whale Wallets Awaken: Hack Suspected$8.6B Bitcoin Transfer Sparks Hack Speculation
A series of Bitcoin transactions totaling 80,000 BTC ($8.6 billion) from wallets dormant since 2011 has raised eyebrows in the crypto community. Coinbase’s Conor Grogan suggested a ‘small possibility’ of a hack, citing an odd BCH test transaction, though many experts dispute this theory. Some speculate the funds belong to Roger Ver, an early Bitcoin investor arrested for tax fraud, and may signal an IRS settlement. Critics argue the slow, manual execution of transfers and the mathematical improbability of hacking a private key make a breach unlikely. The debate highlights the intrigue surrounding large-scale crypto movements and security concerns.
about $8.6B Bitcoin Transfer Sparks Hack Speculation