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BTC bounces above $76,000 as DeFi suffers $14 billion exodus after major hack

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Bitcoin BTC$75,957.68 held above $76,000 on Monday, rebounding from overnight lows as the broader crypto market remained steady despite Iran war risks. The largest cryptocurrency has climbed about 2.4% over the past 24 hours, recovering from a fall below $74,000 earlier in the session. Ether (ETH), Bitcoin (BTC) price on Monday, April 20 (CoinDesk) This […]

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Aave Could Face Losses of Up to $230 Million After Kelp DAO Bridge Mining Sparks DeFi Chaos

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The Kelp DAO and LayerZero bridge exploit that occurred over the weekend has left lending protocol Aave facing potential losses of up to $230 million, depending on how the situation is resolved. The incident, according to a report from Aave Labs and service provider LlamaRisk posted on the Aave governance forum, centers on rsETH, a

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North Korea’s crypto hacking playbook expands and DeFi continues to be hit

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Less than three weeks after hackers linked to North Korea used social engineering to hit cryptocurrency trading firm Drift, hackers linked to the nation appear to have pulled off another major exploit with Kelp. The attack on Kelp, a restoration protocol tied to LayerZero’s cross-chain infrastructure, suggests an evolution in how North Korea-linked hackers operate,

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Crypto week ahead

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Crypto heads into the new week with its Friday rally on shakier ground. The reported reopening of the Strait of Hormuz sent oil lower and pushed risk assets higher, including bitcoin and the broader crypto market. The opening reversed on Saturday, with Iran firing on ships trying to pass and the United States seizing an

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Global stablecoin rules slow as BIS calls for cooperation to avoid fragmentation risks

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Work on global standards for stablecoins has slowed over the past year, raising concerns among central bankers that oversight gaps could divide markets and amplify risks. Bank of England Governor Andrew Bailey, who chairs the Financial Stability Board, said progress on international rules had stalled, Reuters reported last week. This is a concern, Bank for

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Kelp DAO hits back at LayerZero for trying to shift blame after massive exploit

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The popular Spiderman meme showing three identical superheroes pointing fingers at each other is now having its crypto moment. Kelp DAO is set to push back on LayerZero’s post-mortem on Sunday’s $290 million exploit, which essentially blames Kelp, an L2 source familiar with the matter told CoinDesk. Kelp plans to challenge the cross-chain messaging company’s

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RaveDAO accused by ZachXBT of links to “suspicious” crypto exchange activity

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Blockchain detective ZachXBT wrote on Sunday that the team behind RaveDAO at least knows who manipulated the price of its token, which saw an impossible 11,000% surge followed by an almost immediate collapse. “I found suspicious CEX (centralized crypto exchanges) activity on April 26 related to RaveDAO team addresses on-chain, which potentially contradicts their recent

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Bitcoin (BTC) will face near-term pressure as liquidity tightens, says Hilbert Group CIO

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Global liquidity is expected to deteriorate sharply, according to Russell Thompson, chief investment officer at crypto asset manager Hilbert Group (HILB), who said even a quick geopolitical resolution in Iran is unlikely to support a recovery in risk assets without political support. Liquidity conditions have stabilized in parts of the financial sector following the rollout

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Bitcoin jumps, crashes minutes after Trump moves, and here’s why it could happen again this week

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Bitcoin and other risk assets have become increasingly sensitive to statements by U.S. President Donald Trump, with markets often swinging up or down within minutes of his social media posts or political media announcements. This has attracted the attention of lawmakers, academics and market experts, as questions mount over whether these price movements have created

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