On September 2, Venus Protocol paused operations after a targeted phishing attack resulted in the loss of nearly $27 million from a single user’s wallet. Security firm Cyvers identified the suspicious transaction involving multiple assets including vUSDT, vUSDC, and BTCB. Experts confirmed the Venus protocol itself remained uncompromised, with the attack instead exploiting malicious transaction approvals granted by the victim. The attacker used sophisticated methods including potential computer poisoning and complex funding routes through Monero exchanges. While initial reports indicated $27 million in losses, subsequent investigations suggest the actual figure may be closer to $20 million as coordination continues with the affected large holder.
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0 posts last weekEthereum Staking Faces $3.28B Exit Queue Amid Delays
Ethereum’s validator exit queue has surged to a 12-day wait time, marking the longest delay in months, with $3.28 billion worth of ETH awaiting withdrawal. The backlog, first noted in late July, continues to grow as withdrawals outpace new deposits. DeFi analyst Ignas links the trend to liquid staking providers like Lido, EtherFi, and Coinbase, where users are unwinding leveraged positions and capitalizing on Ethereum’s recent price rally. A widening stETH/ETH depeg and anticipation of ETH staking ETFs may also be influencing validator behavior. Profit-taking appears to be another key driver, as long-term stakers withdraw funds to lock in gains.
about Ethereum Staking Faces $3.28B Exit Queue Amid DelaysCircle’s CRCL Stock Surges 22% Amid Institutional Demand
Circle’s CRCL stock has seen a sharp 22% rise in pre-market trading after its NYSE listing, reaching above $130 before settling at $123 at open. The IPO, one of the most successful fintech offerings in recent years, underscores institutional appetite for blockchain firms. Major backers like SBI Holdings and ARK Investment Management are betting on USDC’s growth, though some in the crypto community criticize the lack of direct rewards for on-chain users. Despite mixed reactions, Circle’s success signals broader market recognition of stablecoins’ role in mainstream crypto adoption.
about Circle's CRCL Stock Surges 22% Amid Institutional DemandCrypto 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.
about Crypto Transfers in Europe Face Increased Restrictions and Compliance MeasuresDecentralized Exchanges Lead Token Price Discovery Amid Centralized Exchange Trends
Market trends show that decentralized exchanges (DEXs) have taken over from venture capital markets for token price discovery, while centralized exchanges (CEXs) are primarily used for exit liquidity. Recent token listings on Binance, such as Pudgy Penguins and ChainGPT, have underperformed, indicating a shift in price discovery dynamics. December saw record trading volumes on DEXs, with a notable increase in on-chain activity, highlighting the growing importance of these platforms in the crypto market.
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