Welcome to the protocol, the weekly envelope of Coindesk of the most important stories in the development of cryptocurrency technology. I am Margaux Nijkerk, a journalist in Coindesk.
In this issue:
- The Swissborg Floor Gags portfolio operated for $ 41.5 million after the partner’s API compromise
- Ledger CTO warns against the attack on the NPM supply chain striking 1B + downloads
- The backpack opens the exchange of perpetuates regulated in Europe after the acquisition of FTX EU
- Polygon POS sees the discharge of the purpose of the transaction, Patch in progress
Network news
Swissborg Sol Earn floor portfolio operates: Crypto Exchange Swissborg said about 192,600 soil ($ 41.5 million) Was stolen in an external portfolio used exclusively for its Earn Sol strategy. The feat comes from the compromised application programming interface of a partner (API)A mechanism that allows software systems to communicate with each other, affecting a single counterpart, said exchange in an article on X. It was not a hacking of the Swissborg platform. The loss affected less than 1% of users and represented approximately 2% of the total of Swissborg assets, the firm said. All other funds and strategies remain secure and user sales in the Swissborg application are not affected. Earn floor redemptions are interrupted while recovery efforts take place. Swissborg says that it will cover any deficit, ensuring any loss of users. The company works with White-Hat pirates, security companies and the police to recover funds. A full incident report will follow the investigations once. This feat arrives in the middle of a strong increase in cryptographic flights, with more than $ 2.17 billion already stolen in 2025. – Shaurya Malwa Learn more.
Ledger CTO warns against PNM Attack: Charles Guillemet, Director of Hardware Wallet Maker Ledger technology, warned X (Npm) The account was compromised. According to Guillemet, the malicious code – already pushed into packages with more than a billion downloads – is designed to silently exchange the addresses of cryptographic wallet in transactions. This means that users without mistrust could send funds directly to the attacker without realizing it. Guillemet did not appoint the developer he said. The incident highlights how deeply interconnected and why security loss in developer tools can be deeply interconnected in the economy of cryptography. A day later, Guillemet shared that almost zero cryptography users had been affected by hacking. “NPM is a tool commonly used in the development of software using JavaScript, which facilitates the integration of packages for developers,” Guillemet said in a message to Coindesk. When an attacker compromises the account of a developer, he can slide malware into widely used packages. “The malicious code tries to drain users by exchanging addresses used in the transaction or general activity on the chain and replacing them with the address of the pirate,” added Guillemet. – Margaux Nijkerk Learn more.
The EU backpack is online after the acquisition of FTX EU: Backpack Exchange, a global cryptocurrency trading platform, said its European division, Backpack EU, is officially live. Operating from Cyprus and under license within the framework of Mifid II of the European Union, the exchange is positioned as one of the first places entirely regulated in Europe to offer cryptographic derivatives, starting with a perpetual future. “As far as I know, it will be American and Kraken” in Europe offering a perpetual future, Armani Ferrante, CEO of Backpack, said in an interview with Coindesk. The beginnings follow the acquisition by backpack of FTX EU earlier this year. In January, the FTX bankruptcy area said that the sale of FTX with backpack was not authorized. Since then, the problem has been resolved and in April, the exchange began to distribute funds to former FTX EU customers, making their commitment to compensate users affected by the collapse of the cryptographic empire of Sam Bankman Fried. Backpack has provided users with access to more than 40 trading pairs with a lever effect up to 10x, the team said in a press release. The platform indicates that it aims to offer retail merchants and institutional traders a gateway compliant with advanced cryptography trading products. The deployment also highlights the wider strategy of backpack for reconstruction of trust in digital assets following a series of exchange failures. – Margaux Nijkerk Learn more.
Polygon POS CHAIN feels the purpose of the gap: The chain of proof of implementation of Polygon is live, but the transactions take more time than usual to be locking, the purpose of 10 to 15 minutes late. The purpose is the assurance that a transaction or data is irreversible once confirmed and added to a blockchain block. The Foundation declared in a post X that a correction had been identified and is deployed to validators and service providers. The slowdown was linked to problems on certain Bor / Erigon nodes and RPC suppliers, according to the Polygon status page. The Node Restarts solved the problem for many validators, while others had to rewind in the last final final before resynchronization, a page of shared status. The disturbance occurs weeks after the upgrading of Heimdall V2 of Polygon promised a 5 second purpose thanks to a pile of modernized consensus. – Shaurya Malwa Learn more.
In other news
- World Liberty Financial (WLFI)The crypto protocol linked to Donald Trump and his family, has put the Tron’s founder on blacklist and the address of the Blockchain of Clé Justin Sun, preventing him from transferring WLFI tokens. This decision affects 595 million WLFI tokens unlocked at the address, worth around $ 107 million at current prices, according to Arkham Data. The action followed the address linked to the sun, making several outgoing transactions of WLFI tokens on the Ethereum blockchain – including one for $ 9 million of tokens – Blockchain data show. Sun, in an article translated on X, declared that “the address carried out only a few generic exchange deposits, with very low amounts, then created the dispersion of address, without involving purchase or sale, which could not have any impact on the market.” In a later declaration, Sun urged the WLFI team to unlock its tokens. – Sam Reynolds Learn more.
- The decentralized funding protocol, Ethena, has submitted a proposal to issue the next stable -co -poin of hyperliquid, joining a tender competition that has already attracted companies such as Paxos, Sky, Frax and Agora. The token would be fully supported by the USDTB of Ethena, a stablecoint emitted with an anchorage of bank with a federal charter and entirely supported by Buidl, the monetary market tokenized by the giant of the asset management of Blackrock and secure. If it is adopted, Ethena promised that 95% of net revenues from the USDH reservations will return to the hyperliquid ecosystem, according to the proposal. Ethena also said that it would cover the migration costs of existing USDC trading pairs on hyperliquid to USDH to mitigate adoption. – Kristzian Sandor Learn more.
Regulation and Policy
- The Nasdaq, the American exchange where the biggest names in the technological sector let their actions, seeks to put actions on the blockchain, asking the American Commission securities and the exchange of blessing its efforts even if others in the world of securities will allow customers to choose traditional actions for negotiation actions or to do the same in the fracture with the channel with the chain with the chain With actions in To-Knined. priority as a inherited method. Nasdaq’s decision follows a Digital Brokerage Robinhood effort to issue tokens in stocks for European customers in July, giving access to some 200 US shares and Stock Exchange Funds (ETF). Bringing actions and other active active worlds to Blockchain Rails has been among the most sizzling in innovations in the world of digital assets, and competition has become fierce for traditional financing names and the natives of cryptography to make movements. – Jesse Hamilton Learn more.
- President Donald Trump’s new guy, Patrick Witt, picks up the stick of his predecessor, Bo hines, in the cut-off legislators to finish American crypto policies and push regulators to put the new law of Stablecoin in practice, he said in an interview with Coindesk. Working under the cryptography of the administration, David Sacks, Witt is the new point of contact for cryptographic issues at the White House after the brief mandate of his predecessor, who worked for the stablecoin Tether giant. While Hines saw the conversion of the Stablecoin effort of the Congress and was able to attend the ceremony of the White House to cement it, it left shortly after, leaving a long list of crypto tasks for Witt. “There is no removal here,” said Witt, who was raised to employment last month, two weeks after the administration. “We keep the metal pedal with all the various initiatives on the legislative front and the inter -site actions recommended in the report.” – Jesse Hamilton Learn more.
Calendar
- September 22-28: Korea Blockchain Week, Seoul
- October 1-22: Token2049, Singapore
- October 13-15: Digital Asset Summit, London
- October 16-17: Blockchain European Convention, Barcelona
- November 17-22: DevConnect, Buenos Aires
- December 11-13: Solana Breakpoint, Abu Dhabi
- February 10-12, 2026: consensus, Hong Kong
- March 30. 2: Ethcc, Cannes
- May 5-7, 2026: consensus, Miami
