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forklog.media Arbitrum freezes 30,766 ETH amid probe into Kelp hack

The Security Council of the L2 network Arbitrum has taken “emergency measures” and frozen 30,766 ETH (~$71.2m) stolen from the Kelp protocol.  The Arbitrum Security Council has taken emergency action to freeze the 30,766 ETH being held in the address on Arbitrum One that is connected to the KelpDAO exploit. The Security Council acted with input from law enforcement as to the exploiter’s identity, and, at all times,…— Arbitrum (@arbitrum) April 21, 2026 “The team acted with input from law enforcement regarding the exploiter’s identity and, at all times, took into account its obligations to ensure the community’s security and integrity without affecting users or applications,” the statement said.  The funds were moved to an “interim frozen wallet”. The original address no longer has access—project governance alone can now move the assets. Legitimate owners will receive the coins after approval. Debating decentralisation Freezing crypto is contentious. Critics say it violates the technology’s ethos. Supporters argue that blocking crime-linked funds bolsters a chain’s security and integrity.  Many users criticised Arbitrum’s actions and questioned the network’s decentralisation.  so a council can just freeze 30k eth and we’re still calling this decentralized?— Sandy.ETH (@david_lee2085) April 21, 2026 “So some council can just freeze 30,000 ETH, and we’re still calling this decentralised?” wrote a user going by Sandy.ETH.  The episode also prompted jokes.  is it truly decentralised??? pic.twitter.com/wxHCRP3QWa— Nozomi (@NozomiNetwork) April 21, 2026 Arbitrum Security Council member Griff Green responded to community criticism. He said the decision was not taken lightly: members spent “countless hours” debating the freeze from technical, practical, ethical and political angles.  I'm a member of the Security Council & I can tell you we did not make this decision lightly, there were countless hours of debates, technical, practical, ethical and political.But all it takes for evil to triumph is for good men to do nothing, so today, we decided to do… https://t.co/tArbmXwZKN— Griff Green — griff.eth (@griffgreen) April 21, 2026 Green stressed that not all council members voted to freeze the assets; nine of 12 backed the measure.  Aave’s bad debt  Among those hit by the Kelp exploit was Aave. Earlier, Lookonchain said the incident left the protocol with a balance “hole” of roughly $195m.  A risk manager at the lending platform LlamaRisk outlined two scenarios for how the bad debt could affect the ecosystem.  Update on rsETH incident:@LlamaRisk has published a report outlining the rsETH incident, the immediate actions taken, its impact on Aave, and potential paths forward.All service providers have been working to assess the two potential bad debt scenarios on the Aave protocol.…— Aave (@aave) April 20, 2026 First scenario: losses are shared across all rsETH holders on Ethereum mainnet and L2s. Then Aave’s shortfall would be about $123.7m, and rsETH could fall 15% against the leading altcoin. LlamaRisk stressed that, in that case, losses would be distributed more evenly across chains. wETH would “absorb most in absolute terms but hardly notice it relative to the depth of its reserves”. Aave has a tool—the Umbrella safety module—to cover losses in wETH. Some 18,922 aWETH (~$43.7m) have completed a cooldown and are ready to be unstaked. Second scenario: the entire deficit falls on L2s (Arbitrum, Mantle). Then bad debt would reach $230.1m. LlamaRisk noted that Aave has about $181m in its treasury—reserves that could be used to cover a potential shortfall. The day before, Kelp said it was continuing to assess the damage from the hack and options to safely restart the protocol. https://t.co/APBgpyA10x— Kelp (@KelpDAO) April 20, 2026 Haseeb Qureshi, a partner at Dragonfly, argued that current risks do not imperil DeFi. In his view, Aave and similar protocols have sufficient capital to cover bad debts. DeFi learns through failures. Whether it's from the collapse of Terra, broken auctions during Black Friday in 2020, or the stETH depeg in 2022, it has failed over and over again—but with every failure, it improves.People talk all sorts of shit about this, but it's no different…— Haseeb ＞|＜ (@hosseeb) April 20, 2026 “DeFi learns through failures. Whether it’s from Terra’s collapse, broken auctions during ‘Black Friday’ in 2020, or the stETH depeg in 2022—with every failure, the ecosystem gets better. […] DeFi is not going anywhere,” he wrote.  LayerZero blamed Kelp’s team also shared initial findings of the hack investigation. The developers laid blame on LayerZero, which earlier claimed the breach was caused by the project using a 1/1 DVN configuration.  “The 1/1 setup is described in LayerZero’s documentation and is the default for any new OFT deployment. We have been running on their infrastructure since January 2024 and have stayed in contact throughout,” Kelp noted.  Representatives of the protocol added that DVN configuration was discussed during the L2 expansion and that the default setup was “approved as meeting requirements”. At the time of writing, LayerZero had not responded to Kelp’s statements.  Justin Sun’s proposal  TRON founder Justin Sun addressed the Kelp hackers and called for talks.  OK — Kelpdao hacker, how much you want? Let’s just talk. With KelpDAO’s help, of course. It’s simply not worth it to sacrifice both Aave and KelpDAO and let them go down over this hack. You can’t spend $300 million anyway.— H.E. Justin Sun 👨‍🚀 🌞 (@justinsuntron) April 19, 2026 “Hacker, how much do you want? Let’s talk. With KelpDAO’s help, of course. It’s simply not worth sacrificing both Aave and KelpDAO and letting them go down over this hack. You can’t spend $300m anyway,” he wrote.  Sun’s motives remain unclear. Addresses linked to his HTX exchange, however, have moved hundreds of millions to Aave. According to Protos, as of December 2025 more than $1.4bn of the platform’s USDT reserves sat in loans on Aave. An on-chain analyst known as EmberCN also noted that wallets affiliated with TRON’s founder actively withdrew USDT from the lending protocol after operations were paused.  另外，他凌晨为了把存在 Aave 上的 1.74 万枚 ETH 取回，通过 Swap 把存款凭证 (aEthWETH) 直接卖成 ETH，损失了 310 枚 ETH ($72 万)。也就是折价了 1.8%。然后把换回的这些 ETH 转存到了 Spark 上。https://t.co/NCZnNhezwYPS：因为 Aave 目前还是暂停 WETH 的提款的，ETH 想从 Aave… https://t.co/HT9JouZ5cS pic.twitter.com/4Q0FO2eAhB— 余烬 (@EmberCN) April 21, 2026 “[…] the wallet executed five transactions, withdrawing a total of $274m in USDT and fully closing its position in stablecoins on the platform,” the analyst noted.  Other large withdrawers from Aave included the MEXC exchange and investment firm Abraxas Capital.  Due to the KelpDAO exploiter borrowing over 82,600 $ETH ($195M) from #Aave using $RSETH as collateral, bad debt has appeared on #Aave.Many whales have withdrawn funds from #Aave, causing its TVL to drop from $26.396B to $20.114B — a decline of $6.28B.Major withdrawals… pic.twitter.com/rhN28AMul9— Lookonchain (@lookonchain) April 19, 2026 In April, hackers also breached the ENS gateway eth.limo and cloud provider Vercel. 

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themerkle.com Aave Freeze Sparks Immediate Exit of $274M

The Aave rsETH/wrsETH market froze abruptly, leading to a rapid series of withdrawals, including one notable exit tied to a wallet connected with Justin Sun. And this whopper of a withdrawal highlighted both the speed and weaknesses that come along with DeFi (decentralized finance), just minutes after the platform ceased trade. On April 18 at exactly 18:52 UTC, Aave froze the relevant market, starting a string of events. Just 21 minutes after the first transaction, activity was detected at an address dubbed HTX: Recovery, known to have ties with Sun’s team, which suggested a quick and organized withdrawal effort. The The post Aave Freeze Sparks Immediate Exit of $274M appeared first on The Merkle News.

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u.today Strategy CEO Le Explains Why BTC Price Doesn't Matter; XRP Targets $1.9 as SuperTrend Flips Bullish, Analyst Signals; $292 Million DeFi Hacker Escapes to Bitcoin - Morning Crypto Report

Strategy CEO Le prioritizes per-share yield over Bitcoin price, XRP eyes $1.9 breakout as SuperTrend flips bullish. Plus, Kelp DAO hacker shifts $292 million to BTC as Arbitrum freezes $71 million of stolen ETH.

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blockonomi.com Best Crypto Presale Picks Right Now: TradeView’s High-Speed Matching Engine and Trading Tools Explained

When crypto markets get busy, slow execution becomes more than an inconvenience. It changes prices, fills, and trust. That is why many readers looking through the best crypto presales now pay close attention to trading infrastructure, not just token buzz. TradeView enters that discussion with a high-speed matching engine and platform tools built around execution. [...] The post Best Crypto Presale Picks Right Now: TradeView’s High-Speed Matching Engine and Trading Tools Explained appeared first on Blockonomi.

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btcmanager.com Bitcoin breakout sparks fresh altcoin hype as BlockchainFX nears its $15m launch trigger

Bitcoin rally boosts altcoin sentiment as BlockchainFX nears final presale milestone. Bitcoin’s latest advance is beginning to reshape sentiment across the digital asset market.That matters beyond Bitcoin itself. Historically, a Bitcoin breakout tends to revive demand for altcoins by drawing…

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bitcoinist.com Zachxbt Identifies Other Cryptos Like RAVE With The Same Trajectory, What Do They Have In Common?

Over the last two weeks, RaveDao (RAVE) burst into the crypto scene in a rapid price surge and a trajectory that led many in the community to call it a blatant market manipulation from insiders. In less than two weeks, the RAVE price had risen by more than 5,000%, with its fully diluted value reaching […]

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news.bitcoin.com Dune Data Reveals Close to 50% of Layerzero Apps Use Basic Security

A Dune Analytics report shows that nearly half of Layerzero applications rely on the lowest level of DVN security. The findings raise concerns about cross-chain risk following recent exploits. Most Layerzero OApps Rely on Basic DVN Security Configurations Nearly half of applications built on Layerzero are operating with the lowest level of security configuration, according […]

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forklog.media US Proposal for ‘AI Dividends’ to Citizens

US Congressional candidate Alex Bores has proposed an 'AI Dividends' program. The initiative suggests direct payments to citizens if automation leads to mass layoffs. Today, I’m proud to announce the AI Dividend, my plan to prepare for the AI economy with direct payments to Americans funded by tax reform that simultaneously incentivizes hiring humans instead of AI.Read the full plan here: https://t.co/sE1OuM8AlT pic.twitter.com/uoRiyIU9Me— Alex Bores (@AlexBores) April 20, 2026 Bores relies on expert forecasts suggesting that artificial intelligence could replace up to 50% of jobs, with entry-level positions being the most vulnerable.  The program would be triggered automatically upon reaching certain economic indicators: prolonged decline in employment levels;  decrease in wages in specific sectors;  increase in AI productivity without the creation of new jobs. In addition to payments, the project includes funding for retraining courses and increased oversight of technologies. The amounts and frequency of disbursements are not yet specified in the document.  To fund the initiative, Bores proposed several mechanisms:  a tax on the use of AI tokens;  the state's right to purchase shares in AI companies at a discount;  tax reforms. The author of the initiative believes these mechanisms should be implemented before a narrow circle of companies accumulates excessive profits through automation. In his view, it will be much harder to change the system after large-scale displacement of people from the labor market.  Earlier in April, Oracle began laying off thousands of employees amid falling stock prices and significant capital expenditures on AI infrastructure.

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blockonomi.com RedotPay Integrates SUI and USDC-Sui to Power Stablecoin Payments Across 100+ Countries

TLDR: RedotPay is among the first crypto card providers to support Native USDC on Sui’s blockchain network. Users in 100+ countries can now spend SUI and USDC-Sui at over 130 million merchants worldwide. RedotPay processes over $10 billion in annualized payment volume as recorded in November 2025. Mysten Labs built Sui’s payment infrastructure to move [...] The post RedotPay Integrates SUI and USDC-Sui to Power Stablecoin Payments Across 100+ Countries appeared first on Blockonomi.

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forklog.media New Bitcoin Extortion Scheme for Safe Passage Through the Strait of Hormuz Uncovered

Unknown individuals are impersonating Iranian authorities, offering ships safe passage through the Strait of Hormuz in exchange for payment in Bitcoin or USDT. The Greek maritime risk management company Marksis has warned of this new scheme, reports Reuters.  Experts examined one of the messages sent by the fraudsters to shipping companies. It stated that companies should first provide documents for verification by Iran's security service.  Subsequently, a transit fee must be paid in cryptocurrency. This supposedly allows for an "unimpeded crossing at a pre-agreed time," according to Marksis.  At least one vessel may have fallen victim to the scam. It attempted to leave Hormuz on April 18 but came under fire.  Strait of Hormuz Remains Closed   Earlier this month, journalists from the Financial Times, citing oil exporters, reported that Iran intends to demand payment in cryptocurrency from shipping companies for passage through the strait. No official confirmations followed.  Later, experts described Tehran's plans as "virtually unfeasible." They pointed to the ongoing sanctions against the country and the transparency of the blockchain, which could pose problems for Western-registered firms.  On April 17, Iranian authorities announced the opening of the Strait of Hormuz. However, the situation changed a few days later: U.S. President Donald Trump threatened to destroy all power plants and bridges in Iran if negotiations failed.  In response, the other side indicated it might skip a second round of talks while the United States maintains a naval blockade.  The next meeting between U.S. and Iranian representatives is scheduled for April 22, reports Axios. However, the situation remains unstable due to ongoing threats from both countries.  Experts from Bitwise stated that the conflict in the Middle East has brought Bitcoin closer to becoming a real means of settlement.

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blockonomi.com Bitcoin Traders Lost $762M in 72 Hours as Hormuz Headlines Reversed

TLDR Iran opening the Strait of Hormuz sent Bitcoin up 4%, wiping out $593M in short positions Iran then reimposed controls, reversing the move and pushing Bitcoin to $74,335 Total liquidations across 72 hours hit $762M Both long and short traders made correct directional calls but still got liquidated At 25x leverage, a 4% price [...] The post Bitcoin Traders Lost $762M in 72 Hours as Hormuz Headlines Reversed appeared first on Blockonomi.

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news.bitcoin.com BitMEX Joins Zodia’s Off-Venue Settlement Network to Ease Counterparty Risk

Zodia Custody has integrated the cryptocurrency exchange BitMEX into its Interchange network, allowing institutional clients to trade derivatives while keeping their assets in secure, third-party cold storage. Key Takeaways: Zodia Custody added BitMEX to its Interchange network in Q1 2026 to secure institutional trading. The move reduces 100% of counterparty risk by keeping assets in […]

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news.bitcoin.com Adrian Wall of DSA Advances Stablecoin Policy Discussion at Blockchain and Fintech Conference at Harvard

This sponsored press release was provided by TRON DAO and was not written by Bitcoin.com News. Bitcoin.com News does not necessarily endorse the statements made within this announcement. PRESS RELEASE. Washington, D.C., April 20, 2026 — The Digital Sovereignty Alliance (DSA), a nonprofit organization dedicated to advancing clear and ethical public policy, research and education […]

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blockonomi.com XRP Price Forecast After Ripple CEO Targets CLARITY Act by May: Can Pepeto’s Binance-Backed Exchange Deliver Bigger Returns?

The XRP price forecast just got stronger after Ripple CEO Brad Garlinghouse told the Semafor World Economy event on April 13 that the CLARITY Act will pass by the end of May, giving Ripple (XRP) permanent regulatory clarity under federal law. When the biggest legislative barrier in crypto is about to fall, the entire exchange [...] The post XRP Price Forecast After Ripple CEO Targets CLARITY Act by May: Can Pepeto’s Binance-Backed Exchange Deliver Bigger Returns? appeared first on Blockonomi.

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