CoinPhoton

Attackers exploited a critical Cosmos EVM vulnerability to steal assets from six blockchain networks between Aug. 20 and Aug. 25, ultimately selling roughly $5.7 million worth of tokens.
The flaw involved an integer underflow bug that allowed attackers to manipulate balances to effectively enormous values, then use those inflated balances to drain tokens from target accounts. Cosmos Labs said no new tokens were actually created and total supply was effectively unchanged.
A researcher first reported the vulnerability in April, but Cosmos Labs initially concluded that live networks were not exposed and fixed it through a silent patch process without issuing a public advisory. Independent research in August later showed that all Cosmos EVM chains were affected.
MANTRA Chain suffered the largest disclosed loss at about $3.6 million, while TAC and KiiChain were also exploited. MANTRA criticized the disclosure process, saying the security patch was released only about 20 hours before the first attack and without enough information for validators to coordinate an upgrade.
Cosmos Labs said it later coordinated with around 40 chains and helped 13 others patch or halt before they could be attacked.

Blockchain analytics firm Chainalysis is suing U.S. Immigration and Customs Enforcement (ICE), alleging the agency improperly steered a $94.66 million contract to rival TRM Labs.
Chainalysis claims ICE relied on requirements that closely matched TRM’s existing products and commercial relationships, even though several of those criteria were not disclosed in the final Statement of Need given to competing vendors.
ICE gave potential rivals just three days to submit a one-page capability statement. Chainalysis says it was the only company to respond, but ICE rejected its submission the following day without asking follow-up questions or explaining several of the criteria used in its decision.
The company alleges the process was effectively designed around TRM capabilities, including automated asset-freeze notifications, a large proprietary scam-victim database and partnerships with stablecoin issuers.
Chainalysis is asking a federal court to block the TRM contract and require ICE to conduct a full and open competition.
TRM Labs has intervened to defend the award. The court has not yet ruled on the case, with oral arguments scheduled for Sept. 2.

Layer 1 blockchain Fogo halted its mainnet after an attacker obtained 400 million FOGO tokens, worth roughly $3 million at the time of the incident.
The compromised tokens represent about 4% of FOGO’s 10 billion genesis supply and more than 10% of its current circulating supply.
Fogo said the network was paused to prevent further movement of the affected assets while validators deploy an upgrade designed to restrict addresses linked to the unauthorized activity.
The halt came around 15 hours after the Fogo Foundation initially said it had been compromised but claimed the blockchain itself was operating normally. The project has not yet disclosed the attack vector or provided a timeline for restarting the network.
Bitget and KuCoin have temporarily suspended FOGO deposits and withdrawals following the incident.

Vietnam’s new crypto market regulations take effect on September 1, but the country has not yet licensed a single cryptocurrency exchange.
Five companies have passed the initial assessment to operate crypto trading platforms. They must now satisfy Level 4 cybersecurity standards and maintain at least VND 10 trillion ($383 million) in capital.
Once the first exchange receives a license, Vietnamese investors will have a six-month transition period to move their trading activity onto licensed platforms.
After that, trading through unlicensed exchanges could result in fines of VND 30–50 million ($1,140–$1,900).

The Cronos blockchain halted operations after an exploit hit Tectonic, its largest lending protocol, with an onchain researcher estimating roughly $75 million in assets were affected.
Researcher Weilin Li said the attacker manipulated the price of TONIC, Tectonic’s relatively illiquid governance token, pushing it roughly 100x higher within 20 minutes. The inflated TONIC was then used as collateral to borrow other assets from the protocol.
Tectonic had around $121.7 million in TVL and $82.7 million in active loans before the incident. The protocol has not yet confirmed the final losses or the exact root cause.
According to Li, the attacker managed to bridge only about $6 million to Ethereum before Cronos halted the blockchain, potentially preventing most of the affected assets from leaving the network.
Crypto.com CEO Kris Marsalek said the Crypto.com app and exchange were not compromised, while the company’s security team is assisting Cronos with the investigation.
The exploit resembles recent attacks on other DeFi lending platforms involving manipulation of thinly traded collateral assets, including the $8.7 million Moonwell exploit on Base.

Kalshi has reportedly signed an exclusive partnership with the U.S. Tennis Association (USTA) to become the official prediction market platform of the US Open.
According to Front Office Sports, the agreement was finalized shortly before the tournament’s main draw began and takes effect immediately. Financial terms were not disclosed.
As part of the deal, competing prediction market platforms are reportedly barred from advertising at the US Open venue and across ESPN broadcasts of the tournament.
The partnership comes as prediction markets deepen their ties with professional sports. Kalshi and Polymarket already have partnerships across the NHL and MLB, while Kalshi has recently signed deals with several major baseball teams.
Kalshi has also become the dominant prediction market by trading volume. Kalshi, Polymarket and Polymarket US generated a combined $41.2 billion in volume in August, with Kalshi accounting for about $33.7 billion.
The expansion comes despite growing regulatory pressure. The Ninth Circuit recently ruled against Kalshi in its dispute with Nevada over whether federally regulated sports event contracts can still be subject to state gambling laws, deepening a legal split between federal and state regulators.

Russia’s largest bank, Sber, plans to expand its crypto-backed lending business by accepting USDT and Ether alongside Bitcoin as collateral.
Deputy Chairman Anatoly Popov said Sber will gradually introduce the additional assets after the Bank of Russia approves them for trading on regulated exchanges.
The expansion follows a new cryptocurrency law signed by President Vladimir Putin on Aug. 4, with key provisions taking effect on Sept. 1. The legislation gives Russia’s central bank authority to decide which digital assets can be traded through regulated venues.
The Bank of Russia has already proposed Bitcoin, Ether and $USDT for regulated trading, citing factors including market capitalization, liquidity and at least five years of overseas price history.
Meanwhile, Sber remains more skeptical about Russia’s digital ruble. CFO Taras Skvortsov said the bank sees little evidence of strong demand for the CBDC among consumers, companies or financial institutions ahead of its broader rollout. $BTC $ETH

Trump-linked Real Trump Coins denied launching, promoting or authorizing the Solana-based Trump Digital GOLD token after it briefly appeared across the project’s online channels before crashing.
The denial came after the Real Trump Coins X account promoted GOLD and directed users to RealTrumpCoins.com, where the token was also advertised. The posts were later deleted, and the account now links to a different domain, TrumpCoins.com.
Real Trump Coins blamed the incident on “third-party bad actors” and said it is working with authorities to investigate.
Blockchain analytics platform Lookonchain reported that the token’s developer and newly created wallets controlled 82.45% of GOLD’s supply. Fifteen wallets linked to the team allegedly sold tokens for about $330,000, generating an estimated $312,000 profit.
The incident has raised questions over how both the X account and associated website appeared to promote the token. At the time of publication, RealTrumpCoins.com was reportedly still displaying the GOLD promotion.
Donald Trump also continued to follow the Real Trump Coins X account, one of only 53 accounts he followed on the platform. $TRUMP

Tokenized stock activity surged over the past month, with monthly transfer volume jumping more than 415% to $29.5 billion, according to RWA.xyz.
Monthly active addresses climbed 209% to around 1.3 million, while the number of tokenized stock holders increased 167% to 2.36 million. Total distributed value reached $2.54 billion, up roughly 637% from $344 million a year ago.
By platform, Ondo leads the market with $842.8 million in distributed value, followed by Kraken’s xStocks at $609.3 million and Binance’s bStocks at $599.9 million. Together, the three account for about 81% of the tokenized stock market.
The growth comes as major crypto platforms expand tokenized equity products. Coinbase recently launched tokenized US stocks on Base for eligible non-US users, while Bitwise introduced automated portfolios built from those assets.
Bybit has also begun accepting tokenized shares such as Nvidia, Apple and Tesla as collateral for margin loans, while Robinhood-backed Arcus offers more than 95 stock tokens and perpetual markets.
The rapid growth highlights accelerating demand for 24/7, onchain access to traditional equities and their integration into DeFi.

The value of tokenized real-world assets (RWAs) on the Stellar network has surged about 360% in 2026, rising from $868.8 million at the end of last year to nearly $4 billion as of Aug. 29.
The market is concentrated among a handful of issuers. Spiko leads with about $1.55 billion, followed by Realiz at $559 million, Tradable at $548 million, Franklin Templeton at $546 million and Ondo at $535 million.
Stellar has also gained traction in non-US government debt, with roughly $490 million tokenized on the network, including Mexican CETES and Brazilian government bonds.
Institutional adoption is helping drive the expansion. DTCC plans to connect its tokenization services to Stellar in the first half of 2027, potentially enabling tokenized US Treasurys, major index ETFs and Russell 1000 stocks on the network.
Tradable also plans to bring up to $1 billion in private credit assets to Stellar, while MoneyGram has launched its MGUSD stablecoin on the blockchain. Stellar currently hosts around $438 million in reserve-verified stablecoins.
Despite the strong RWA growth, $XLM
is down about 11% year to date, trading near $0.18.

Polygon has disclosed several previously private security vulnerabilities that could have disrupted its proof-of-stake network, after fixes were deployed through the Austin and Kyoto hard forks.
The flaws affected Polygon’s Bor and Heimdall clients and included denial-of-service risks, validator resource exhaustion, and problems with checkpoint and milestone processing.
The most serious vulnerability involved Heimdall, where a specially crafted transaction could force validators to perform excessive computational work and potentially disrupt network operations. The Austin hard fork also fixed two Bor vulnerabilities that could slow block processing or crash nodes.
Polygon said none of the vulnerabilities were observed being exploited on mainnet. The fixes were privately developed, tested and activated before technical details were publicly disclosed.
All Polygon PoS nodes now need Bor v2.10.0, while validators and full nodes require Heimdall v0.11.0. Nodes still running older versions have fallen out of consensus and must upgrade to rejoin the canonical network.
Polygon’s POL token traded around $0.10, down about 4% over the past week but up roughly 44% over the past month. $POL

US spot Bitcoin ETFs recorded $201.8 million in net outflows on Friday, ending a nine-day inflow streak as Bitcoin fell below $78,000.
The nine-session run had attracted more than $3 billion in net inflows, while August remains positive at roughly $3.3 billion with one US trading session left in the month. Total Bitcoin ETF assets fell to about $97.6 billion after briefly exceeding $100 billion.
ARK 21Shares’ ARKB led the outflows with $114.9 million, followed by Bitwise’s BITB with $49.7 million and BlackRock’s IBIT with $33.4 million. Morgan Stanley’s Bitcoin Trust was the only fund to post inflows, adding $9.3 million.
Altcoin ETFs continued to attract capital despite the Bitcoin reversal. Spot Ether ETFs added $102.2 million, while XRP ETFs recorded $26.2 million in inflows.
Solana ETFs have also maintained strong momentum, reaching about $1.7 billion in cumulative inflows, while Bitwise’s Solana ETF recently became the first in the category to surpass $1 billion in assets. $BTC

The U.S. Securities and Exchange Commission has cleared the registration for Evernorth, an XRP-focused treasury company seeking to list on Nasdaq.
Evernorth is merging with special purpose acquisition company Armada Acquisition Corp. II, with shareholders scheduled to vote on the deal on Sept. 30. If approved, the combined company is expected to trade on Nasdaq under the ticker XRPN.
Major investors include Ripple, Arrington Capital, SBI Group, Pantera Capital, Kraken and GSR. Evernorth was founded by Asheesh Birla, who previously led Ripple’s payments business for more than a decade.
Unlike traditional crypto treasury companies that primarily buy and hold tokens, Evernorth says it plans to deploy capital into XRP infrastructure and actively manage its holdings with the goal of increasing the amount of XRP backing each share over time.
The model still carries risks, as crypto treasury stocks can trade at premiums or discounts to the value of their underlying holdings, potentially limiting their ability to raise additional capital.
XRP traded near $1.41, up more than 27% over the past week. $XRP

Solana validators narrowly approved SGP-0002, a proposal to accelerate reductions in new SOL issuance, after several major validators switched their votes in the final minutes.
The proposal passed with 67% support, barely clearing the required two-thirds threshold. About 25% voted against and 7.84% abstained, while participation reached 60.7% of eligible stake.
The outcome remained uncertain until the final hour. A Kraken-linked validator representing roughly 2% of voting power switched from opposition to support, while Galaxy reallocated much of its roughly 1.7% voting weight from abstention to support shortly before the deadline.
SGP-0002 doubles Solana’s annual disinflation rate, meaning SOL issuance will decline more rapidly toward the network’s long-term inflation target.
The vote was part of Solana’s first network-wide governance process. SGP-0001, which establishes a governance framework for future network decisions, passed with 95.35% support. Meanwhile, SGP-0003, which proposed changes to transaction fees that would increase SOL burning, failed with about 54% support.
SOL traded near $106, down roughly 1.2% over 24 hours. $SOL

IREN shares fell about 8% in pre-market trading after the company reported weaker profitability as it accelerates its shift from Bitcoin mining to AI cloud infrastructure.
Fiscal fourth-quarter revenue declined 5% quarter over quarter to $137.2 million, while adjusted EBITDA plunged 68% to $19.2 million as employee costs and AI-related investment increased.
IREN posted a $684 million net loss, including a $450.4 million non-cash impairment largely related to decommissioning Bitcoin mining equipment as facilities are converted for AI workloads.
Despite the losses, the quarter marked a major milestone: AI cloud revenue more than doubled to $70.5 million, surpassing Bitcoin mining revenue of $66.7 million for the first time.
AI cloud services now account for 51.4% of quarterly revenue, while mining contributes 48.6%. Mining revenue fell 40% sequentially as power and infrastructure were redirected toward AI.
IREN said it has about $4 billion in contracted annualized run-rate revenue tied to its 2026 capacity, though only around $1 billion is currently operational.

Bitcoin fell below $79,000 after Federal Reserve Chair Kevin Warsh delivered a hawkish Jackson Hole speech focused heavily on persistent inflation risks.
Warsh said the Fed’s “predominant focus” should remain on inflation and argued that the central bank still has “work to do” to bring price growth sustainably back toward its 2% target.
Markets quickly repriced the outlook for monetary policy. According to CME FedWatch, the probability of a September rate hike jumped to 42% from 35% a day earlier.
Bitcoin slipped to around $78,700 following the remarks, while US stocks moved modestly lower and Treasury yields edged higher.
Warsh’s comments reinforced expectations that the Fed may keep monetary conditions tighter for longer, potentially creating additional pressure on risk assets including cryptocurrencies. $BTC

Ethena’s $ENA
token surged after the Ethena Foundation proposed using 95% of net protocol revenue for token buybacks and announced changes to early investor holdings.
Under the proposed fee switch, 95% of net revenue paid to the foundation from Ethena’s core businesses would be used to buy ENA once USDe circulating supply reaches $7.5 billion. Tokenholders have until Sept. 2 to vote, with early voting showing unanimous support.
ENA rose about 10.7% in 24 hours and 27% over the past week, trading above $0.17.
The foundation also confirmed that it had bought locked ENA from certain major seed investors who sold tokens during the past nine months.
Separately, Ethena and its lead investors agreed to release all remaining unvested investor allocations on Oct. 5, replacing the existing monthly unlock schedule. The move accelerates the unlocks rather than canceling them, while team tokens will remain under their original vesting schedules.
Ethena’s USDe currently has a market capitalization of roughly $4 billion, meaning supply would need to rise significantly before the proposed 95% buyback mechanism is activated.

Crypto custody firm BitGo has completed its acquisition of NYDIG’s institutional trading business, expanding its derivatives, financing and capital markets capabilities.
The deal brings NYDIG’s institutional trading relationships and approximately 30 employees to BitGo. Financial terms were not disclosed.
The acquired business provides derivatives, structured products, financing and trading services to institutional clients including asset managers, hedge funds and corporations.
BitGo CEO Mike Belshe said the acquisition will significantly expand the company’s trading infrastructure and allow it to serve a broader range of institutional crypto clients.
Following the transaction, NYDIG will focus more heavily on power generation, Bitcoin mining and high-performance computing data centers. Its development pipeline exceeds 3 gigawatts, including more than 1 GW of capacity expected to come online in 2027 and 2028. $BTC

French Bitcoin treasury company Capital B raised €21 million ($24.5 million) through a private share placement backed by investors including Bitcoin pioneer Adam Back and asset manager TOBAM.
The financing was priced at €0.58 per ABSA, with each unit consisting of one share and four subscription warrants. If all warrants are exercised, Capital B could raise an additional €135.8 million ($158 million).
The company plans to use the new capital to acquire about 270 BTC, which would increase its total Bitcoin holdings to approximately 3,415 BTC.
Capital B currently holds 3,139 BTC worth roughly $249 million, making it one of the 30 largest publicly traded Bitcoin treasury companies globally.
The raise follows shareholder approval of a much broader financing framework that could eventually allow Capital B to pursue up to €5 billion in equity capital increases as it continues expanding its Bitcoin treasury strategy.

An Abu Dhabi investment group linked to Sheikh Tahnoon bin Zayed Al Nahyan reportedly controls a 49% stake in the holding company behind World Liberty Financial’s proposed US trust bank.
According to The Wall Street Journal, Tahnoon’s group backs StringZ Holding RSC, which owns 49% of WLTC Holdings. An entity affiliated with President Donald Trump’s family reportedly owns another 38%.
The Office of the Comptroller of the Currency granted preliminary conditional approval to World Liberty Trust Company on Aug. 14. If it receives final approval, the bank would handle the issuance, redemption and custody of World Liberty’s USD1 stablecoin under federal supervision.
The OCC has confirmed StringZ as an investor in WLTC Holdings and said it agreed not to influence the bank, but the regulator did not identify Tahnoon as its backer or disclose the size of the stake.
Tahnoon previously backed a $500 million investment for a 49% stake in World Liberty Financial, a deal that has drawn scrutiny from Democratic lawmakers over possible conflicts of interest and US-UAE policy ties.