🔥 Why the Bitcoin Rally Seems More Like a Bull Trap.
The charts now say it wasn't.By Jose Antonio LanzEdited by Guillermo JimenezJul 28, 2026Jul 28, 20265 min readBitcoin. Source: Shutterstock/DecryptCreate an account to save your articles.Add on GoogleAdd Decrypt as your preferred source to see more of our stories on Google.In brief Bitcoin's brief rally to $66,921 failed at the golden zone and price has since fallen back to $63,422a pattern that looks less like a recovery and more like a textbook bull trap. Every major indicator on the daily chart is bearish. Myriad traders are betting on $55K before $84K. Crypto markets opened the day redand then got redder. South Korea's KOSPI index fell more than 8% at the open and triggered a circuit breaker, sending a risk-off shockwave through global markets before New York traders had finished their coffee. Bitcoin's response was fast: a drop to $62,684 in early trading, a brief attempt at recovery, and thennothing.
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🔥 Myanmar Approves Death Penalty for Forced Scam Labor, Life for Crypto Fraud.
Image: Angshu2193/Decrypt (CC BY-SA 4.0)Create an account to save your articles.Add on GoogleAdd Decrypt as your preferred source to see more of our stories on Google.In brief Myanmar's military-backed parliament passed the Anti-Online Scam Bill on Tuesday, the first law under Min Aung Hlaing's new government. A draft published in May set a maximum of life imprisonment for running a scam center or committing digital currency scams. Scam losses across the wider region reached $88.3 billion to $114.1 billion in 2025, the UNODC estimates. Myanmar's military-backed parliament passed a law on Tuesday allowing the death penalty for people who use violence or unlawful detention to force others into running online scams.
Where such abuse kills the victim, the death penalty shall be imposed, according to the draft published in May. That draft set a maximum of life imprisonment for anyone who runs an online scam center or commits digital currency scams (crypto scams), alongside terms of 10 years to life for the coercion offenses. Lower house MP Aye Chan told AFP the death penalty survived into the approved version, and that the important parts of the bill remained the same. The full text has not been released.
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🔥 SparkKitty Malware Found in App Stores Targets Crypto Wallet Seed Phrases.
The malware was distributed through malicious apps on Apple's App Store, Google Play, and third-party app stores. Researchers warn that storing wallet recovery phrases as screenshots can expose crypto assets to theft. A new report from cybersecurity firm Check Point details how the SparkKitty malware campaign targeted cryptocurrency users by scanning photos stored on infected Android and iPhone devices for wallet recovery phrases and other sensitive information.
First discovered by Kaspersky in June 2025, Check Point's analysis detailed how the malware spread through Apple's App Store, Google Play, and third-party app stores. What makes SparkKitty particularly notable is its presence on both the Apple App Store and Google Play, giving it a wide attack surface, Check Point wrote. The threat actor behind SparkKitty distributed trojanized applications disguised as legitimate cryptocurrency tools, messaging platforms, and even entertainment appsgreatly increasing the likelihood of installation by unsuspecting users. After users granted access to their photo libraries, the malware scanned stored images for wallet recovery phrases and other sensitive information before uploading the data to attacker-controlled servers.
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🔥 Circle Buys IBM Blockchain Patent EstateAnd Becomes America's Biggest Holder.
The portfolio covers banking, insurance, enterprise infrastructure, supply chain verification, and secure cloud operations. Circle plans to deploy it across USDC, Circle Payments Network, its Arc blockchain, and AI-powered financial tools. Circlethe company behind USDC (the digital dollar used by millions worldwide for payments, savings, and international transfers)just bought the blockchain patent library IBM spent more than a decade building. The deal, announced July 27, hands Circle over 1,000 blockchain patents issued by IBM worldwide.
Patents are legal rights that give the holder exclusive control over a specific invention. If you hold a patent on a method for processing transactions on a blockchainthe shared digital ledger where crypto activity is permanently recorded and can't be alteredyou get to decide who else uses it and on what terms. IBM had been building that kind of leverage since its mid-2010s enterprise blockchain push. By December 2025, patent analytics firm PatSnap credited IBM with 790 U.S.
blockchain patentsmore than any other American company, with Bank of America a distant second at roughly 200. Circle, which received its first-ever patent in December 2023 (covering parallel blockchain data processinga technique for verifying multiple groups of transactions simultaneously), went from essentially zero to the top of the U.S. The portfolio comprises over 680 patent families and nearly 1,000 issued patents worldwide, spanning foundational blockchain technology, banking, financial services, insurance, enterprise infrastructure, supply chain verification, and secure cloud operations, Circle said in its official announcement. Circle plans to put them to work across its entire s
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🔥 Strategy Adds $525M to Cash Reserve, Skips Bitcoin Buy for Fifth Week.
Source: Decrypt/TwitterCreate an account to save your articles.Add on GoogleAdd Decrypt as your preferred source to see more of our stories on Google.In brief Strategy added $525 million to its USD Reserve, taking it to $3.75 billion, and skipped a Bitcoin buy for a fifth straight week. The reserve now covers 2.1 years of the preferred dividends and debt interest the firm owes each year. The Bitcoin treasury firm also bought back $25 million of STRC preferred stock, its first purchase under a $1 billion authorization. Bitcoin treasury firm Strategy went a fifth straight week without buying Bitcoin, adding $525 million to its cash reserve instead and lifting the balance to $3.75 billion.
Strategy sold 5,429,160 shares of MSTR common stock through its at-the-market program between July 20 and July 26, generating $544.5 million in net proceeds, the company said in an announcement. Its Bitcoin holdings stayed at 843,775 BTC, untouched since a purchase of 520 BTC for $35 million disclosed on June 22. Strategy has increased its USD Reserve by $525 million, achieving 2.1 years of dividend coverage. As of 7/26/2026, we hodl 843,775 in our BTC Reserve and $3.75 billion in our USD Reserve.
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Morning Minute: Tokenized Stocks Jump 5x on Robinhood Chain Price data by DecryptNewsOpinionMorning Minute: Tokenized Stocks Jump 5x on Robinhood ChainPlus markets are green after oil fell 8%; ETH is greatly outpacing BTC in ETF inflows; and another major crypto exchange has shut downBy Tyler WarnerEdited by Stephen GravesJul 27, 2026Jul 27, 20264 min readSource: Shutterstock, DecryptCreate an account to save your articles.Add on GoogleAdd Decrypt as your preferred source to see more of our stories on Google.Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Robinhood Chains Tokenized Stocks Jump 5x Tokenized real-world assets (i.e. stock shares trading onchain) on Robinhood Chain have jumped roughly fivefold in under two weeks to about $70 million. When Robinhood Chain launched on July 1, memecoins immediately took over, and it seemed that Robinhood had spent money building infrastructure only to attract speculation.
A dozen tokenized stocks are each clearing more than $500,000 in daily volume, with five above $1 million, led by GameStop at $26.6 million a day, Nvidia at $14 million, and SpaceX at $6.4 million. The broader chain has scaled fast alongside it. Total value locked (TVL) has roughly tripled since mid-July to about $312 million, the chain is clearing more than $600 million in daily DEX volume, and its logged over 138 million transactions in 30 days, putting it among the most active networks in crypto. On the tokenization side specifically, over 100 assets have been tokenized and total RWA value is nearing $25 million. Daily trading volumes have spiked from ~$5M/day to $60M/day (the biggest growth story).
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🔥 Bitcoin ETFs Shed $465M Over Two Days, Led by BlackRock's IBIT.
Image: Shutterstock/DecryptCreate an account to save your articles.Add on GoogleAdd Decrypt as your preferred source to see more of our stories on Google.In brief U.S. spot Bitcoin ETFs posted net outflows for a second straight day on Friday, reversing a seven-day inflow streak, according to Farside Investors. The funds shed $465 million over a two-day stretch, nearly half the roughly $1 billion they took in during the streak, with BlackRock's IBIT driving most of the selling. Analysts tied the reversal to macro jitters, including U.S.-Iran tensions, oil above $100, and a potential Fed rate hike.
spot Bitcoin ETFs posted net outflows for a second straight day on Friday, reversing a seven-day inflow streak, according to data from Farside Investors. The funds bled $240 million on Friday, after $225 million the day before, erasing nearly half of the roughly $1 billion they had taken in during the preceding seven-day streak. Inflows had built to a $227 million peak on July 20, the streak's biggest day, before demand faded. BlackRock's IBIT drove the turn, accounting for just under $415 million of the two-day outflow.
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🔥 Stocks Just Topped Crypto on Hyperliquid. ARK Says That Changes Everything.
ARK Says That Changes Everything Price data by DecryptNewsDeFiStocks Just Topped Crypto on Hyperliquid. ARK Says That Changes EverythingFor the first time, real-world assetsstocks, commodities, and market indicesoutpaced crypto on the world's biggest decentralized derivatives exchange.By Jose Antonio LanzEdited by Guillermo JimenezJul 24, 2026Jul 24, 20263 min readHyperliquid. Image: Decrypt/HyperliquidCreate an account to save your articles.Add on GoogleAdd Decrypt as your preferred source to see more of our stories on Google.In brief Real-world assets (RWAs)tokenized versions of traditional financial instruments like company stocks, crude oil, and market indices traded as blockchain contractsaccounted for 54% of Hyperliquid's weekly trading volume during July 1319, the first time non-crypto assets have dominated the exchange. ARK Invest's director of digital assets research Lorenzo Valente said Hyperliquid's $26 billion in RWA trading last week surpassed the combined crypto perpetual volume of every other decentralized exchange on earth. South Korean chipmaker SK Hynixa direct rival to Samsung in AI memory productiondrove most of the interest on Hyperliquid's third-party market platform.
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🔥 Clarity Act on the Ropes as Ethics Fight and Shrinking Calendar Threaten Passage.
Image: Shutterstock/DecryptCreate an account to save your articles.Add on GoogleAdd Decrypt as your preferred source to see more of our stories on Google.In brief Majority Leader John Thune says he doesn't expect the Clarity Act to have enough runway before the August recess. The main sticking point is ethics: Republicans' updated draft has been dismissed by Democrats as not a serious effort and wont back current text. Crypto trade groups are pressing leadership to start the floor process anyway, but analysts and prediction markets both point to slipping odds. The Clarity Act, the sweeping bill that would set the ground rules for U.S.
crypto markets, is running low on both time and votes, with Senate leadership now signaling it likely won't clear the chamber before lawmakers scatter for their August recess. Senate Majority Leader John Thune told reporters on Thursday he doesn't expect the digital-asset market-structure bill to find enough runway before the summer break, though he said he still hopes to begin the floor process beforehand. Missing that window is a serious setback: With midterm campaigning set to dominate the fall, dragging the vote into September sharply dims its odds of becoming law this year. The immediate roadblock is ethics.
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🔥 Poolin, Once One of Bitcoin's Biggest Mining Pools, Files for Bankruptcy.
Now it's auctioning off its last Texas mining sites to pay back 11,700 users still holding IOUs.By Jose Antonio LanzEdited by Guillermo JimenezJul 24, 2026Jul 24, 20263 min readCrypto mining. Image: ShutterstockCreate an account to save your articles.Add on GoogleAdd Decrypt as your preferred source to see more of our stories on Google.In brief Poolin Technology filed for Chapter 11 bankruptcy on July 22. The largest single debt, $163.7 million, is owed to about 11,700 users. Thor CALAP LLC has placed a $52 million stalking-horse bid for Poolin's two West Texas mining sites, setting the floor for a court-supervised auction. Ltd., the Singapore-based company that once ran one of Bitcoin's largest mining pools, filed for Chapter 11 bankruptcy on July 22the U.S.
legal process that lets a company operate under court supervision while it reorganizes or, in this case, sells off its remaining assets and shuts down. Bankruptcy Court for the District of New Jersey, covers Poolin alongside two U.S. affiliates, Lonestar Dream Inc. Court documents list roughly prepetition obligations of more than $100 million against less than $10 million in assets. A mining pool lets individual Bitcoin miners combine their hashratethe raw computing power machines burn through to solve the cryptographic puzzles that add new blocks to the blockchainso the group wins rewards more often than any single miner could alone.
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🔥 Nvidia, Meta, and Microsoft Tell Washington: Don't Kill Open-Source AI.
Source: DecryptCreate an account to save your articles.Add on GoogleAdd Decrypt as your preferred source to see more of our stories on Google.In brief Nvidia, Meta, Microsoft, Andreessen Horowitz, Hugging Face, IBM, and 19 other companies published a letter Friday titled Open Weights and American AI Leadership, warning against restrictions on open models. OpenAI and Anthropic did not sign. The letter follows a week in which OpenAI's own AI agents attacked Hugging Face, which then had to use a Chinese open-weight model to defend itself after American closed models refused to cooperate. Trump administration officials have reportedly considered banning Chinese open-weight models, while OpenAI's Dean Ball has called an open-source-dominated AI future a dystopian hellscape. Twenty-five companies just told Washington to leave open-source AI alone.
Nvidia, Microsoft, Meta, Andreessen Horowitz, Hugging Face, IBM, Dell, and 18 others signed a letter published Friday called Open Weights and American AI Leadership. Their argument: restricting open models won't protect the U.S., it will just hand the AI market to a handful of closed labs. Open-weight models are AI systems whose underlying weights the billions of numbers that decide how a model respondsget published for free. Anyone can download them, run them on their own servers, and modify them. That's the opposite of closed models like OpenAIs GPT or Anthropics Claude, which only run through a company's paid app or API.
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Image: Shutterstock/DecryptCreate an account to save your articles.Add on GoogleAdd Decrypt as your preferred source to see more of our stories on Google.In brief U.S. spot Bitcoin ETFs posted $225.2 million in net outflows on July 23, ending a seven-day streak that had pulled in nearly $1 billion, according to SoSoValue data. BlackRock's IBIT accounted for the bulk of the exit at $202.5 million, while Morgan Stanley's MSBT was the only Bitcoin fund to add money, taking in $5 million. Spot Ethereum ETFs moved the opposite direction, adding $26.3 million to stretch their own inflow streak to five straight days. Bitcoin ETFs just had their first bad day in more than a week.
U.S.-listed spot Bitcoin ETFsstock market funds that hold Bitcoin so investors don't need their own crypto walletposted $225.2 million in net outflows on Thursday, snapping a seven-session streak that had pulled in close to $1 billion. It's the category's first negative day since July 13. An outflow means more investors cashed out than put money in, forcing the fund to sell some of its Bitcoin to cover redemptions. One bad day didn't erase a good week: the funds still closed roughly $274 million higher for the five sessions through Thursday. BlackRock's IBIT, the largest fund in the category, did almost all of the damage, shedding $202.5 million.
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🔥 World Foundation Raises $52.5M to Scale Sam Altmans Proof of Human ID.
Image: World/DecryptCreate an account to save your articles.Add on GoogleAdd Decrypt as your preferred source to see more of our stories on Google.In brief The World Foundation, steward of Sam Altman's World, raised $52.5 million in a token sale led by Pantera Capital to expand its World ID proof of human network. Bain Capital Crypto, Eightco Holdings, Selini Capital, and Susquehanna Crypto also joined; the WLD sold is locked for 12 months. World says 39 million people have joined its network and 18 million have been verified in person via its iris-scanning Orb. The World Foundation has raised $52.5 million to expand World IDthe proof of human system from Sam Altman's Worldbetting that verifying who is human will only grow more critical as AI agents flood the internet, the nonprofit said Friday.
The initial token sale was led by Pantera Capital and drew Bain Capital Crypto, Nasdaq-listed Eightco Holdings, Selini Capital, and Susquehanna Crypto, with all the WLD sold locked up for 12 months. The money will go toward bringing World ID to organizations, consumers, and their AI agents, the Foundation said. Pantera general partner Cosmo Jiang said the need for Proof of Human is becoming acutely clear as AI development accelerates. World ID lets a person prove they are a unique human without revealing their identity, through a one-time iris scan at a spherical device called the Orb that generates an ID stored on their phone.
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🔥 Polymarket Account in Farage Backer's Name Took $9M in Crypto From Unknown Sources: FT.
Image: Shutterstock/HTLMBiteback/DecryptCreate an account to save your articles.Add on GoogleAdd Decrypt as your preferred source to see more of our stories on Google.In brief The Financial Times reported that a Polymarket account in the name of George Cottrella convicted fraudster who has bankrolled Nigel Faragetook in $8.8 million in crypto from unidentified sources in 2024. The GCottrell93 account staked the money on Donald Trump winning the U.S. election, booked $4.46 million in profit, then moved almost all of it out to other wallets. An earlier Sunday Times investigation found that Cottrell had paid for travel, staff, and accommodation for the Reform UK leader, benefits that Farage denied required registration.
A Polymarket account in the name of George Cottrell, the convicted fraudster who has bankrolled Reform UK leader Nigel Farage, took in $8.8 million in cryptocurrency from unidentified sources in 2024 and used it to bet on Donald Trump's election victory, the Financial Times reported. The account, registered as GCottrell93, was filled in late October 2024 from two crypto exchanges$7 million from OKX, sent in five tranches, and $1.83 million routed through ChangeNOW, the FT said, citing public blockchain data. Each time money landed, it was immediately staked on a Trump win. After his victory, which the account turned into $4.46 million in profit, almost all the funds were moved back out to other wallets.
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🔥 Goldman Sachs CEO Breaks With Wall Street to Back Crypto Clarity Act.
Image: Shutterstock/DecryptCreate an account to save your articles.Add on GoogleAdd Decrypt as your preferred source to see more of our stories on Google.In brief Goldman Sachs CEO David Solomon told Politico he is very supportive of moving the Clarity Act forward. His stance breaks with much of Wall Street, including JP Morgan's Jamie Dimon and a coalition of banking trade groups who want stronger language limiting stablecoin yield. The endorsement lands as Republicans circulate updated bill text preserving the market framework while adding contested ethics provisions, leaving the Clarity Act's Senate path uncertain ahead of a hoped-for vote before the August recess.
Goldman Sachs Chairman and CEO David Solomon has come out in favor of the Clarity Act, positioning one of Wall Street's biggest banks apart from much of the industry as the crypto market-structure bill approaches a possible Senate floor vote. I'm very supportive of moving the Clarity Act forward, so we can get some market structure in place and start to move the innovation process along, Solomon said in an interview with Politico. The Clarity Act, if passed and signed into law, formally legalize most cryptocurrency activity in the United States, classifying most crypto assets as non-securities and outside the purview of the SEC.
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🔥 Nasdaq-Listed Zhibao Wants a Bitcoin Treasury, Plans to Sell $220M in Stock for BTC.
Image: DecryptCreate an account to save your articles.Add on GoogleAdd Decrypt as your preferred source to see more of our stories on Google.In brief Zhibao Technology signed a non-binding term sheet with Joyertech and Information OPC for a PIPE financing deal involving roughly 3,500 Bitcoin, worth approximately $220 million at current prices. The buyer would designate a majority of Zhibao's board of directors at closing, effectively taking control of the company while current management continues running day-to-day operations. Zhibao received a Nasdaq deficiency letter on July 15 for trading below $1 per share, and its stock briefly doubled after the Bitcoin treasury announcement. Zhibao Technology Inc., a Nasdaq-listed Shanghai-based company that sells digital insurance products in China, announced Wednesday that it has signed a non-binding term sheet to receive roughly 3,500 Bitcoin as payment in a proposed stock sale.
The deal would be worth approximately $220 million at current BTC prices. According to the company's press release, the Buyer (or its designated entity) intends to subscribe for securities in a proposed PIPE financing of the Company, with consideration expected to include approximately 3,500 Bitcoin, subject to final valuation, custodial arrangements, audit verification, regulatory review, Nasdaq compliance, and the execution of definitive agreements. A PIPE, or private investment in public equity, means a private buyer purchases shares directly from a publicly listed company rather than on the open market. In this case, the buyer, a firm called Joyertech and Information OPC, would pay for those shares not in cash but in Bitcoin.
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🔥 Robinhood CEO Vlad Tenev's X Account Hacked to Shill Fake 'Vladhood' Token.
Source: Decrypt/ShutterstockCreate an account to save your articles.Add on GoogleAdd Decrypt as your preferred source to see more of our stories on Google.In brief Attackers hijacked Robinhood CEO Vlad Tenev's verified X account on Thursday to promote a fake meme coin called Vladhood (VLAD). Robinhood confirmed the breach, said the post was unauthorized, and stressed the account has been secured. For Robinhood Chain, the Ethereum layer-2 launched July 1, speculative meme coins have eclipsed tokenized stocks on the network. Robinhood's communications team said Thursday that CEO Vlad Tenev's X account was briefly taken over by attackers who used it to promote a fraudulent meme coin, the latest scam to piggyback on the brokerage's crypto ambitions.
The bogus post, since deleted, pitched a token called Vladhood, trading under the ticker VLAD, and framed it as the official mascot of Robinhood Chain. It went a step further, falsely claiming the coin was slated for a listing on the Robinhood appa hook designed to lend the scheme legitimacy through Tenev's verified profile. Our CEO Vlad Tenev's X account was compromised and posted a fake promotion for a meme coin, the company wrote from its official comms account, adding that the token was not authorized. Robinhood said the account was subsequently secured.
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🔥 Bitcoin May Have Already BottomedIf the Fed Helps, Says Grayscale.
Image: Shutterstock/DecryptCreate an account to save your articles.Add on GoogleAdd Decrypt as your preferred source to see more of our stories on Google.In brief Grayscale head of research Zach Pandl published a Wednesday note arguing Bitcoin may have already hit its cycle low, conditional on the Fed holding off further rate hikes. The firm rejects the traditional four-year cycle frameworkwhich would predict a bottom in September or October with an average 80% drawdownin favor of viewing Bitcoin as a macroeconomic asset. The Fed meets July 29, and the Clarity Act faces an August 7 Senate deadline, with both events framed by Grayscale as the main price catalysts for Bitcoin in coming weeks. Crypto asset manager Grayscale published a note Wednesday with a headline argument: Bitcoin's bear market may already be overif the Federal Reserve doesn't raise rates.
The firms head of research, Zach Pandl, essentially laid out what he views as two competing narratives that potentially explain the state of the Bitcoin market today. The first, which he dismisses, is the four-year cycle view. Believers in the four-year cycle theory see Bitcoin halving events as the key driver of price movements and expect the current bear market to play out like those in the past, he wrote. The Bitcoin halving is an event baked into Bitcoins code that slices mining rewards in half, essentially slowing the cryptocurrencys rate of inflation, approximately every four years.
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🔥 Wall Street Moving Onchain Will Drive the Next Bull Market.
Morning Minute: Wall Street Moving Onchain Will Drive the Next Bull Market Price data by DecryptNewsOpinionMorning Minute: Wall Street Moving Onchain Will Drive the Next Bull MarketAt least that's what Bitwise's CIO believes. Plus Republicans publish new Clarity Act draft, and the SEC Commissioner has a warning for DeFi.By Tyler WarnerEdited by Stephen GravesJul 23, 2026Jul 23, 20265 min readBitcoin bull. Image: Shutterstock/DecryptCreate an account to save your articles.Add on GoogleAdd Decrypt as your preferred source to see more of our stories on Google.Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Bitwises CIO Says Wall Street Moving Onchain Will Drive the Next Bull Market The next crypto bull market wont look like the last ones.
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🔥 Arbitrum Perp DEX AFX Trade Drained of $24M, Offers Hacker 30% to Return It.
Image: Shuttertock/DecryptCreate an account to save your articles.Add on GoogleAdd Decrypt as your preferred source to see more of our stories on Google.In brief AFX Trade, a perpetuals exchange on Arbitrum, was drained of about $24 million in an exploit that hit a USDC bridge the protocol itself operates. The exchange said the breach was isolated to that bridge and the exact attack vector is still under investigation; on-chain trackers say the funds were swapped for 12,468 ETH. AFX has halted the bridge and publicly offered the attacker a dealreturn 70% of the funds and keep the rest as a white hat bounty. AFX Trade, a decentralized perpetuals exchange on Arbitrum that settles in the stablecoin USDC, was drained of $24.15 million on Wednesday in an exploit that hit a bridge the protocol operates, security firm Blockaid said.
In a tweet, AFX said the exact attack vector remains under investigation. The on-chain money trail shows that the attacker bridged the stolen USDC to Ethereum and swapped it for 12,468 ETH, now sitting in a single wallet, PeckShield said. AFX is aware of an incident involving the AFX-operated USDC custody bridge on Arbitrum.Upon detecting the incident, we immediately suspended bridge operations and initiated our incident response procedures. Our engineering and security teams are actively investigating the root Arbitrum moved fast to put distance between itself and the protocol.
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