LayerZero said that Kelp’s DVN setup allowed the $290 million exploit, as investors questioned which protocol would step up to cover the shortfall.
A dormant Bitcoin address holding 49.97 BTC from 2011 reactivated after over 14 years, transferring $3.23 million in assets to a FalconX-labeled prime broker wallet.
Crypto perpetual futures trading volume on centralized exchanges dropped to $4 trillion in July, marking a 31-month low, while decentralized exchange volumes fell to $531 billion alongside declining spot trading activity.
Coinbase plans to suspend LRC-USD trading on August 7, closing its dollar market while customer balances and withdrawals remain accessible. The move follows Loopring's DEX shutdown and amid thin, concentrated trading volumes across other venues.
Circle has launched its USDC stablecoin and Cross-Chain Transfer Protocol on X Layer, OKX's Ethereum layer-2 network, expanding ecosystem connectivity for the second-largest stablecoin.
Liu Zhou, founder of crypto market maker MyTrade, avoided prison and received a $10,000 fine for running a wash trading service that inflated volume across roughly 60 cryptocurrencies as part of an FBI sting.
US spot Bitcoin ETFs recorded $620 million in inflows over consecutive days following a $116 million Coldcard wallet hack, sparking renewed debate among investors regarding the risks and security of self-custody versus institutional funds.
