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forklog.media Hacker Exploits $1.4 Million Vulnerability in Ekubo Contract

A hacker targeted a token exchange contract on EVM networks of the DeFi protocol Ekubo, as reported by the project team. There is an active security incident on Ekubo swap router contract on EVM chains only. Liquidity providers are not affected. Starknet is not affected.We are investigating the scope of the issue, but to be safe revoke all outstanding approvals: https://t.co/9vHDLVjQWP— Ekubo (@EkuboProtocol) May 5, 2026 The developers emphasized that liquidity providers were not affected. The Starknet version of the platform also remains secure. Users were advised to revoke all active approvals and warned of potential phishing attempts. According to Blockaid, the attack affected a custom auxiliary Ekubo contract on Ethereum. Experts estimated the preliminary damage at $1.4 million. 🚨Blockaid's exploit detection system has identified an on-going exploit on an @EkuboProtocol custom extension contract on Ethereum. $1.4M drained so far.Ekubo users are not at risk. Only users who have approved this specific v2 contract as a spender (any token) are at…— Blockaid (@blockaid_) May 5, 2026 Only users who had previously approved this specific v2 contract as a spender are at risk. Cause of the Breach Blockaid linked the exploit to a flaw in the callback mechanism. The auxiliary contract allowed the attacker to insert arbitrary values into the request: who pays, which token, and in what amount. The contract did not verify whether the specified payer had initiated the operation or agreed to act in this role. With an existing ERC-20 approval, the attacker could designate the victim's address as the payer, initiate a call through Ekubo Core, and force the contract to transfer tokens via the transferFrom function. Ekubo Core's settlement mechanism then transferred the stolen amount to the hacker. SlowMist's founder, known as Cos, clarified that one user had given unlimited approval to the Ekubo contract 158 days ago. The attacker initiated 85 transactions, each deducting 0.2 WBTC, ultimately withdrawing 17 WBTC from the address. Ekubo 有关合约被恶意利用：https://t.co/imw4AKey5t原因是如果用户之前将相关代币授权给：0x8CCB1ffD5C2aa6Bd926473425Dea4c8c15DE60fd 如这位用户 0x765DEC 的这笔 WBTC 无限授权（158 天前）：https://t.co/2Ubo35aBZJ攻击者可指定已授权用户作为 payer，在 payCallback 中让该合约调用… https://t.co/FDwvrJ23oR— Cos(余弦)😶‍🌫️ (@evilcos) May 6, 2026 An on-chain analyst known as Darkfost reported that the hacker sent the stolen funds to Velora, exchanged them for $404,000 in USDC, $403,000 in DAI, and 239.5 ETH, and then sent them to the crypto mixer Tornado Cash. If you use Ekubo, be cautious.Their EkuboSwap router contract has been exploited.The attacker managed to execute 85 transactions, each transferring 0.2 $WBTC to a single address.The 17 WBTC were then sent to Velora and swapped into $404K $USDC, $403K $DAI, and 239.5 $ETH.… https://t.co/vj9pubFrzJ pic.twitter.com/kD5zgWyUNP— Darkfost (@Darkfost_Coc) May 5, 2026 In April 2026, the number of hacks in the crypto industry reached a record high. Analysts at DefiLlama counted over 20 incidents in the month. The largest was the $292 million exploit of the Kelp protocol. The second largest was the attack on Drift, with damages amounting to $280 million.

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bitcoinist.com Western Union Enters Stablecoin Race With USDPT Launch On Solana

A combined 130 million people in Bolivia and the Philippines now have access to Western Union’s new digital dollar, USDPT — a US dollar-backed stablecoin running on the Solana blockchain. Related Reading: Institutional Crypto Momentum Grows As Standard Chartered Invests In GSR A Big Name Makes Its Blockchain Debut Western Union, which moves money for […]

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news.bitcoin.com Binance Launches ‘Withdraw Protection’ as Crypto Wrench Attacks Rise 75%

Binance has rolled out a new safety feature called ‘Withdraw Protection,’ letting users freeze outgoing transfers from their accounts for up to seven days, a direct response to a global surge in violent physical attacks targeting crypto holders. Key Takeaways: Binance launched ‘Withdraw Protection’ on May 4, offering users a provision to block outgoing transfers […]

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forklog.media OpenAI Introduces GPT-5.5 Instant to ChatGPT

OpenAI has launched the GPT-5.5 Instant model and begun its integration into ChatGPT. This new version will replace GPT-5.3 Instant as the default neural network and will be available to all users within two days. GPT-5.5 Instant is starting to roll out in ChatGPT.It’s a big upgrade, giving you smarter, clearer, and more personalized answers in a warmer, more natural tone.And it's also more concise, which we heard you wanted. We think you'll love chatting with it. pic.twitter.com/HSQOhjqxp7— OpenAI (@OpenAI) May 5, 2026 “This is a significant upgrade, providing smarter, clearer, and more personalized responses in a friendly and natural tone,” the announcement stated. GPT-5.5 Instant's responses have become more concise and accurate, particularly in medicine, law, and finance. The model performs better in everyday tasks: image analysis, natural sciences, mathematics, and engineering queries. In internal evaluations, GPT-5.5 Instant produced 52.5% fewer incorrect answers compared to GPT-5.3 Instant. The number of inaccurate statements in particularly complex dialogues was reduced by 37.3%. Comparison of GPT-5.5 Instant and GPT-5.3 Instant in various tests. Source: OpenAI. “GPT-5.5 Instant is generally a smarter model, better at handling everyday tasks,” the announcement stated. LLM independently determines when it makes sense to consult the internet. Memory and personalization features have been improved: ChatGPT now more effectively considers context from saved data, past chats, files, and connected Gmail accounts. Users can see which data was used and can update, delete, or disable it. Personalization updates are gradually appearing for Plus and Pro plan holders in the web version; mobile app support will follow later. OpenAI's Comeback OpenAI has significantly strengthened its position in programming—a field where the company traditionally lagged behind competitors. The number of downloads of its Codex solution rose from 5 million to 86 million in five days, surpassing downloads of Claude Code. Downloads of Anthropic's tool from April 27 to May 3 decreased from 11.8 million to 7.2 million, according to TickerTrends data. Source: TickerTrends. The service records the number of npm package downloads for the Node.js platform, not the number of unique application users. In mid-April, OpenAI released a major update to Codex. The AI agent for programming gained the ability to use applications on a computer: it can see the screen, click the mouse, and enter text. An integrated browser was added to the application, where users can leave precise instructions for the assistant directly on the pages. On April 30, the company launched the /goal command—an analogue of the Ralph Loop plugin in Claude Code. This feature allowed Codex to plan and execute multi-step tasks across several sessions. On May 1, Codex introduced “pets”—a kind of “Tamagotchi” displaying the activity and status of the AI agent. Anthropic's situation is different. At the end of March and beginning of April, Claude users began to complain about bans—including paid accounts. Reasons included connecting OpenClaw and registering from an unsupported region. Users also report increased token consumption. This is linked to the new tokenizer and the implementation of “adaptive thinking.” Back in early April, shares of AI startup Anthropic became the most sought-after on the secondary market, while OpenAI's stocks lost appeal to buyers.

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cryptobriefing.com Danny Dayan: Recent rate cuts were a policy mistake, unchecked inflation could lead to parabolic rises in risk assets, and the Fed misjudged labor supply dynamics | Forward Guidance

Recent Fed rate cuts are seen as a mistake, potentially fueling inflation and boosting risk assets. The post Danny Dayan: Recent rate cuts were a policy mistake, unchecked inflation could lead to parabolic rises in risk assets, and the Fed misjudged labor supply dynamics | Forward Guidance appeared first on Crypto Briefing.

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bitcoinist.com Drift Protocol Releases Recovery Plan After $295 Million Exploit—Key Details

Drift Protocol announced on Tuesday that it has laid out a recovery plan for users affected by the April 1 exploit, an incident that resulted in a major loss of roughly $295 million in user funds on the lending decentralized exchange (DEX). Drift Protocol’s $295M Recovery Plan Drift Protocol’s plan centers on a recovery token […]

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forklog.media State Street and Galaxy Launch Tokenized Fund on Solana

Financial giant State Street and Galaxy have launched the State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP) — a tool for 24/7 liquidity management using stablecoins. The total market value of stablecoins has exceeded $300 billion, with a 0.22% increase over the past 30 days. Source: RWA.xyz. The fund operates on Solana; plans include support for Stellar and Ethereum. Galaxy provided the technological foundation for tokenization. Investors can use the stablecoin PYUSD for subscribing to and redeeming fund shares. The tool is available to qualified investors. According to RWA.xyz, PayPal's stablecoin capitalization stands at $2.7 billion. Source: RWA.xyz. The project's infrastructure includes solutions from Chainlink for publishing net asset values and cross-chain interactions. State Street Bank acts as the custodian of securities, while Anchorage handles the custody of digital assets. State Street representatives described the launch as a significant step in the company's strategy to implement blockchain solutions for institutional clients. Galaxy's CEO, Mike Novogratz, added that SWEEP is a practical example of the convergence of traditional finance and cryptocurrency. Back in September 2025, Galaxy tokenized its own GLXY shares on Solana, partnering with Superstate for the initiative. In December, JPMorgan issued tokenized commercial papers worth $50 million on the "people's cryptocurrency" network for Novogratz's company.

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forklog.media Strategy Considers Bitcoin Sale Amid $12.7 Billion Quarterly Loss

Strategy may sell a portion of its bitcoin holdings to pay dividends on perpetual preferred shares of STRC, according to the firm's founder, Michael Saylor.  Tune into @Strategy's Q1 Earnings Call live now on X. We'll cover:-Q1 financial results-Digital Credit $STRC-Digital Equity $MSTR Followed by a live Q&A;!https://t.co/j4rKKAvU0A— Strategy (@Strategy) May 5, 2026 STRC is a component of Strategy's "digital credit" strategy. The company issues high-yield securities, attracting capital from income-focused investors, and then uses the funds to purchase bitcoin. Since its inception, the instrument has generated approximately $8.5 billion for the firm. STRC dynamics. Source: STRC.live.  Dividends on such securities are a regular obligation. Strategy has primarily financed bitcoin purchases through the issuance of shares and debt instruments, but now the company has more flexibility, its management emphasized during the first-quarter earnings call.  Top executives noted that if necessary, dividends could be covered not by selling MSTR shares, but by a small portion of bitcoin reserves. "We will likely take this step to finance dividends, [...] to make it clear that we have done so. Everyone will understand that the organization is fine, bitcoin is fine, the industry is fine, the world has not collapsed," Saylor noted. He added that with the current treasury volume, the asset needs to appreciate by about 2.3% annually for Strategy to cover STRC dividend obligations from its reserves without selling common shares. Shift in Position and Financial Results  Previously, Saylor had repeatedly emphasized that the company did not intend to sell bitcoins and was building a strategy around the long-term accumulation of the first cryptocurrency. The firm's CEO, Phong Le, clarified that Strategy would sell coins if it benefits the business. The goal, he said, remains the same: to increase reserves, boost the number of bitcoins per share, and remain a net accumulator of digital gold. Currently, Strategy holds 818,334 BTC (approximately $66.6 billion). In the first quarter, the company acquired 89,599 BTC, and at the beginning of the second quarter, an additional 56,235 BTC. Source: BitcoinTreasuries.  The firm reported a net loss of $12.77 billion for the first three months of 2026. The main reason was "paper" losses from the revaluation of bitcoin reserves amid a decline in the asset's price.   MSTR shares closed the latest session at $186.9, gaining 1.7% for the day. Over the past month, the shares have risen by 46%, but remain down 26.7% over six months. Source: Yahoo Finance.  Back in December 2025, Strategy created a $1.44 billion reserve for dividend payments. At that time, the company confirmed for the first time its readiness to sell part of its bitcoins. 

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bitcoinist.com Spain’s Sabadell To Join Qivalis Consortium For Major Euro Stablecoin Push

Spanish bank Sabadell is the latest to join a consortium of European banks seeking to launch a euro-pegged stablecoin to make transactions more efficient and increase the dominance of Europe’s digital assets market. Related Reading: WLFI Drama Escalates: World Liberty Sues Justin Sun Over ‘Reckless’ Smear Campaign Sabadell Joins European Banking Consortium On Tuesday, Spain’s […]

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news.bitcoin.com Strategy May Sell Bitcoin to Fund Dividends, Saylor Breaks From ‘Never Sell’ Stance

Michael Saylor has signaled that Strategy, the world’s largest corporate bitcoin holder, may sell a portion of its BTC to meet preferred stock dividend obligations, a significant departure from the firm’s founding promise to never liquidate its cryptocurrency reserves. Key Takeaways: Saylor said Strategy may sell BTC to pay dividends in May 2026, reversing its […]

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blockonomi.com Bitcoin Breaks $81K: BTC Dominance Tops 61% as Altcoins Show Early Signs of Recovery

TLDR: Bitcoin has gained roughly 36% since its February 6 low, breaking above the $81,000 price level. BTC dominance has surpassed 61.3%, returning to levels last recorded in November 2025 amid tight capital flows. Altcoins reclaiming their 200-day MA on Binance rose from 2.3% to 11.7%, breaking a downtrend since October 2025. Altcoin trading volume [...] The post Bitcoin Breaks $81K: BTC Dominance Tops 61% as Altcoins Show Early Signs of Recovery appeared first on Blockonomi.

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blockonomi.com GENIUS Act Framework: Circle Backs OCC’s Stablecoin Licensing Proposal

TLDR: Circle submitted comments to the OCC backing its proposed rule implementing the landmark GENIUS Act stablecoin framework. The company called for uniform prudential standards across all issuers, whether bank or nonbank, state, federal, or foreign. Circle drew a clear distinction between payment stablecoins and tokenized deposits, urging separate regulatory treatment for each. Consumer redemption [...] The post GENIUS Act Framework: Circle Backs OCC’s Stablecoin Licensing Proposal appeared first on Blockonomi.

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themerkle.com $150M Crypto Ponzi Scheme Crumbles, Forming Global Fraud Network As Investigators Freeze $41.5M

The suspicious DSJ Exchange (DSJEX) and BG Wealth Sharing scheme, now confirmed a Ponzi operation, has collapsed after illegally siphoning over $150 million from victims since appearing in 2025. Thorough on-chain analysis of this investigation revealed extensive laundering activity, hundreds of millions in cross-chain asset transfers, and a concerted effort to disguise transaction histories. Although the structure of this scheme was relatively simple, its large scale tells a darker story: thousands of people, many recruited through social media, were seduced. This case is different not only because of the huge amount of cash but also due to the fact that The post $150M Crypto Ponzi Scheme Crumbles, Forming Global Fraud Network As Investigators Freeze $41.5M appeared first on The Merkle News.

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themerkle.com Brian Armstrong Sets Course for AI-Driven Transformation As Coinbase Cuts 14% of Workforce

Coinbase is about to undergo one of its largest structural reorganisations in some time, with CEO Brian Armstrong confirming that the firm will cut around 14% of its workforce. Armstrong calls this decision a “conservative” one based on two converging forces: persistent market volatility and the quickening adoption of AI in the workplace. This is an email I sent earlier today to all employees at Coinbase: Team, Today I’ve made the difficult decision to reduce the size of Coinbase by ~14%. I want to walk you through why we're doing this now, what it means for those affected, and how The post Brian Armstrong Sets Course for AI-Driven Transformation As Coinbase Cuts 14% of Workforce appeared first on The Merkle News.

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news.bitcoin.com Zano Prepares Trustless Cross-Chain Bridge for Native ZANO After Hard Fork 6

Zano is set to open native ZANO to EVM networks, TON, and Solana through a non-custodial bridging mechanism tied to its upcoming Hard Fork 6, slated for Q2 2026. Key Takeaways: Zano’s Hard Fork 6, targeted for Q2 2026, introduces Gateway Addresses enabling trustless bridging of native ZANO to EVM, TON, and Solana networks. The […]

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blockonomi.com Strategy Plans Bitcoin Sale to Fund Dividends After Recording $12.54B Q1 Loss

TLDR: Strategy reported a $12.54 billion Q1 net loss tied to a decline in bitcoin’s market price this quarter. Michael Saylor proposed selling bitcoin to cover $1.5 billion in annual dividend and debt obligations. Strategy holds 818,334 BTC at an average cost of $75,537, with roughly 18 months of dividend coverage left. MSTR stock fell [...] The post Strategy Plans Bitcoin Sale to Fund Dividends After Recording $12.54B Q1 Loss appeared first on Blockonomi.

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bitcoinist.com Moscow Exchange Adds XRP, Solana, Tron And BNB To Crypto Index Push

Moscow Exchange plans to begin calculating and publishing new crypto indices for Solana, XRP, Tron and Binance Coin from May 13, broadening Russia’s regulated market infrastructure for digital-asset-linked products. The move matters because the benchmarks could later serve as reference assets for new financial instruments, even as Russian crypto exposure remains restricted to professional investors. […]

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news.bitcoin.com Aave Challenges $71M Freeze, Seeking Fast Ruling to Restart Restitution for Users

On May 4, decentralized finance protocol Aave filed an emergency motion to lift a restraining notice that has frozen $71 million in recovered ethereum. Key Takeaways: Aave filed a May 4 motion to vacate a court order freezing $71 million in ETH recovered from a recent exploit. ZachXBT alleged the freeze involves fraudulent claims, impacting […]

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