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forklog.media Kelp Protocol Loses $293 Million Following Cross-Chain Bridge Attack

On April 17, the liquid restaking protocol Kelp suffered a hacker attack, resulting in a loss of approximately $293 million. 🚨 $293M EXPLOIT DETECTED: Cyvers AI systems have identified a massive attack on @KelpDAO .Our platform flagged the breach in real-time, tracking ~$293.7M drained from the protocol's RSETH Adapter. Currently, ~$250M has already been swapped to $ETH and is held across two… pic.twitter.com/E2bnoZh0Eu— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) April 18, 2026 According to analysts at CyversAlerts, the attacker exploited a vulnerability in the cross-chain bridge of the rsETH token on the LayerZero platform. At 17:35 UTC, the perpetrator invoked the lzReceive function in the EndpointV2 contract, initiating the transfer of 116,500 rsETH to a personal address. The funds for the attacker's wallet were obtained through the crypto mixer Tornado Cash. The Kelp team responded to the incident approximately 46 minutes later. Upon detecting suspicious activity, an emergency pause mechanism in the rsETH token configuration contract was triggered, causing a cascading halt of other protocol components.  Earlier today we identified suspicious cross-chain activity involving rsETH. We have paused rsETH contracts across mainnet and several L2s while we investigate.We are working with @LayerZero_Core, @unichain, our auditors and top security experts on RCA. We will keep you…— Kelp (@KelpDAO) April 18, 2026 "We have paused rsETH contracts on the mainnet and several L2s while we conduct an investigation. We are working with [LayerZero], [Unichain], our auditors, and leading security experts on root cause analysis," project representatives stated.  The DeFi protocol Aave also froze rsETH markets on the V3 and V4 platforms. After the halt, the attacker made two more attempts to withdraw funds, but the transactions were successfully canceled. In both cases, they attempted to transfer 40,000 rsETH (~$100 million). This marks the second cybersecurity incident for the Kelp token. In April 2025, the protocol suspended deposits and withdrawals after a fee agreement error led to the excessive creation of rsETH. According to CoinGecko, the situation did not significantly impact the affected coin's prices. However, the stolen 116,500 rsETH represents approximately 18% of the total circulating supply.  The attack adversely affected the price of AAVE due to reports of potential issues with non-repayable loans. The asset's value dropped nearly 20% in a day. 15-minute AAVE/USDT chart on Binance exchange. Source: TradingView. Back on April 1, the DeFi platform Drift Protocol on Solana was subjected to a hacker attack. The perpetrator withdrew at least $280 million. 

news.bitcoin.com ‘No More Mr. Nice Guy’ — Trump Warns Iran to Accept Deal or Lose Every Bridge and Power Plant

President Donald Trump threatened Sunday to destroy every power plant and bridge in Iran after Iranian gunboats fired on commercial vessels in the Strait of Hormuz, pushing a fragile Pakistan-brokered ceasefire to the edge of collapse. Key Takeaways: Trump threatened to destroy every power plant and bridge in Iran if the country rejects a proposed […]

blockonomi.com PEPE Price Holds Key Support as Traders Eye Breakout from Weekly Accumulation Zone

TLDR: PEPE remains within a strong weekly demand zone, signaling possible accumulation despite an 88% correction from highs. A breakout above $0.000006 resistance could confirm trend reversal and open room for major upside targets. Historical fractal patterns suggest potential for explosive rallies if the current support structure holds steady. Failure to hold above $0.0000017 may [...] The post PEPE Price Holds Key Support as Traders Eye Breakout from Weekly Accumulation Zone appeared first on Blockonomi.

bitcoinist.com Kelp DAO Suffers $292 Million rsETH Exploit – Details

Wu Blockchain reports that Kelp DAO has suffered a massive cross-chain exploit that drained approximately 116,500 rsETH, valued at nearly $292 million. The incident raises fresh concerns about the protocol’s security, coming less than a year after a previous disruption tied to a smart contract bug Related Reading: $20M Crypto Scam Lands Texas Man 23-Year […]

blockonomi.com Aave Faces Liquidity Crunch After $292M rsETH Exploit Drains ETH Pool

TLDR: A $292M rsETH exploit enabled massive borrowing on Aave, leaving the protocol with unbacked collateral exposure. Aave’s ETH pool reached full utilization, restricting withdrawals as panic-driven outflows exceeded $5.4 billion. Technical indicators show AAVE weakening after rejection near $120, with momentum still favoring downside pressure. Critical support near $90 remains under watch as markets [...] The post Aave Faces Liquidity Crunch After $292M rsETH Exploit Drains ETH Pool appeared first on Blockonomi.

blockonomi.com Grayscale Files Spot TAO ETF as Bittensor Network Rebounds from Covenant AI Exit and 38% Drawdown

TLDR: Grayscale raised TAO weighting to 43.06% in its AI fund, its largest single-asset reallocation ever made. Community miners restored SN3, SN39, and SN81 from open-source code with no central operator involvement needed. Bitwise and Grayscale both filed TAO ETF applications on April 2, with an SEC decision tracked for August 2026. Teutonic targets a [...] The post Grayscale Files Spot TAO ETF as Bittensor Network Rebounds from Covenant AI Exit and 38% Drawdown appeared first on Blockonomi.

blockonomi.com Bitcoin Holds $75K as ETF Inflows Return and Macro Signals Support Risk Assets

TLDR: Bitcoin trades near $75K as ETF inflows exceed $1B weekly, reversing a four-month outflow trend Stable US jobs data and easing geopolitics support risk assets across crypto and equity markets Solana and Ethereum upgrades improve efficiency, supporting network growth and user activity Institutional moves and rising stablecoin supply strengthen liquidity across crypto markets Global [...] The post Bitcoin Holds $75K as ETF Inflows Return and Macro Signals Support Risk Assets appeared first on Blockonomi.

news.bitcoin.com ‘Think Even Bigger’: Michael Saylor’s New Signal Hints at Another Massive Strategy Bitcoin Buy

Strategy’s bitcoin positioning drew heightened attention as Michael Saylor’s latest signal reinforced expectations of continued accumulation. The update underscored how investors interpret these cues as indicators of potential balance sheet expansion and sustained institutional demand. Key Takeaways: Strategy doubled down on bitcoin, signaling aggressive accumulation intent. Michael Saylor’s cue fueled expectations of a major treasury […]

cryptobriefing.com Nikhyl Singhal: Product managers must adapt to rising stress and evolving skills, AI will transform product development, and the industry is experiencing a renaissance | Lenny’s Podcast

AI advancements are set to revolutionize product management, making traditional development methods obsolete within two years. The post Nikhyl Singhal: Product managers must adapt to rising stress and evolving skills, AI will transform product development, and the industry is experiencing a renaissance | Lenny’s Podcast appeared first on Crypto Briefing.

blockonomi.com Tron Inc. Expands TRX Treasury With New Purchase, Holdings Pass 692M Tokens

TLDR: Tron Inc. purchased 152,142 TRX tokens at an average price of $0.3286, adding to its growing treasury reserves. The company’s total TRX holdings now exceed 692.2 million tokens, reflecting a steady accumulation strategy. Tron Inc. shared a public Tronscan wallet link, allowing users to track its TRX treasury in real time. The firm plans [...] The post Tron Inc. Expands TRX Treasury With New Purchase, Holdings Pass 692M Tokens appeared first on Blockonomi.

cryptobriefing.com John D’Agostino: Bitcoin’s market position is stronger than ever, regulatory improvements boost liquidity, and exchanges are vital for price discovery | The Wolf Of All Streets

Bitcoin's strengthened market position is driven by institutional involvement and enhanced liquidity amid regulatory improvements. The post John D’Agostino: Bitcoin’s market position is stronger than ever, regulatory improvements boost liquidity, and exchanges are vital for price discovery | The Wolf Of All Streets appeared first on Crypto Briefing.

blockonomi.com Arbitrum (ARB) Breaks Descending Trendline After 96% Crash: Analyst Eyes 7400% Return to $5+

TLDR: ARB has dropped 96.36% from its all-time high, now trading at $0.12 after a prolonged descending channel. A liquidity sweep below dynamic support confirmed capitulation, triggering a 57% rally from the $0.07–$0.095 demand zone. Bullish structure remains valid only if ARB reclaims and holds above $0.27; a breach of $0.065 invalidates the setup. Analyst [...] The post Arbitrum (ARB) Breaks Descending Trendline After 96% Crash: Analyst Eyes 7400% Return to $5+ appeared first on Blockonomi.

u.today Elon Musk Approves New SpaceX Mascot Asteroid Shiba, XRP Emerges as Bridge in Tottori Bank-SBI Remit Deal, TRON Founder Contacts KelpDAO Hacker Amid $6 Billion Ethereum Outflow — Morning Crypto Report

Elon Musk confirms Asteroid Shiba as the SpaceX mascot, triggering a meme coin surge, while XRP enters Japan remittance rails via SBI Remit and Tottori Bank. Plus, Justin Sun reaches out to the KelpDAO hacker as Aave faces a $5.4 billion liquidity drain.

blockmanity.com How Korean Blockchain Games Are Thriving Overseas Amid Domestic P2E Crackdown

How Are Thriving Overseas Amid South Korea’s gaming world is changing fast. Big companies face tough times at home, but are finding gold overseas. Strict rules choke the popular Play-to-Earn (P2E) model in Korea. Yet, these games rake in huge […] The post How Korean Blockchain Games Are Thriving Overseas Amid Domestic P2E Crackdown appeared first on Blockmanity.

blockonomi.com Poland’s Crypto Regulation Bill Blocked Again as Presidential Veto Stands for the Second Time

TLDR: Poland remains the only EU member state yet to comply with the bloc’s 2024 crypto-asset directive. Parliament secured 243 votes to override the veto but fell 20 votes short of the required 263 threshold. Finance Minister Domański warned the regulatory gap turns Poland’s crypto market into a fraud haven. PM Tusk alleged Zondacrypto was [...] The post Poland’s Crypto Regulation Bill Blocked Again as Presidential Veto Stands for the Second Time appeared first on Blockonomi.

blockonomi.com BNB Price Prediction: Chain Burns $1 Billion in Tokens as Pepeto Pays Holders Two Ways While BNB Pays One

The BNB price prediction got a boost after BNB Chain destroyed 1.57 million tokens worth $1.02 billion in its 35th quarterly burn, dropping total supply to 134.79 million as the network pushes toward its 100 million target. That is real deflationary pressure hitting a token that already leads all Layer 1 networks with 4.5 million [...] The post BNB Price Prediction: Chain Burns $1 Billion in Tokens as Pepeto Pays Holders Two Ways While BNB Pays One appeared first on Blockonomi.

blockonomi.com Caitlyn Jenner Wins $JENNER Memecoin Lawsuit as Federal Court Rules Token Is Not a Security

TLDR: A California federal court dismissed all Securities Act claims against Caitlyn Jenner over the $JENNER memecoin on April 16, 2026. The court ruled the $JENNER Ethereum token failed the Howey test due to lack of horizontal and vertical commonality among investors. Jenner’s 3% transaction tax gave her independent income regardless of investor losses, defeating [...] The post Caitlyn Jenner Wins $JENNER Memecoin Lawsuit as Federal Court Rules Token Is Not a Security appeared first on Blockonomi.

news.bitcoin.com RaveDAO Denies Manipulation Claims as RAVE Token Plummets 95% From Peak

The RaveDAO team has dismissed claims of involvement in price manipulation of the RAVE token and insisted it remain focused on Web3 offline events and philanthropic efforts, such as funding surgeries in Nepal. Key Takeaways: RAVE collapsed 95% to $1.24 after RaveDAO denied claims of a manufactured 10,000% surge. Binance and Bitget CEOs launched probes […]