babe

Stanford University professor and Babylon co-founder David Tse announced that the team has officially released BABE (BAbylon-BErkeley), a brand new Groth16 zero-knowledge proof verification protocol for Bitcoin. This solution reduces initialization and storage costs by more than a thousand times compared to the current optimal solutions.BABE combines two key cryptographic innovations:Witness Encryption on Linear Pairing, which simplifies the complex multiple pairing operations in Groth16 verification to a single scalar multiplication on the BN254 elliptic curve;Utilizing the recently proposed Argo MAC obfuscation primitive, which further transforms this scalar multiplication into vector homomorphic MAC, enabling efficient computation.David Tse stated that BABE will go live in February 2026 alongside the alpha testnet of the Babylon Trustless Bitcoin Vault, aiming to achieve lower-cost and more scalable zero-knowledge proof verification capabilities within the Bitcoin ecosystem.

ChainCatcher news, according to PeckShieldAlert, due to a vulnerability in the Morpho Blue front end, an address is suspected to have suffered a loss of approximately 2.6 million dollars. The attack transaction was frontrun by the well-known on-chain arbitrageur c0ffeebabe.eth, and the funds were ultimately transferred to the address 0x1A5B...C742.

ChainCatcher message, MEV bot c0ffeebabe.eth has refunded 955 msETH (approximately 1.77 million USD) to the treasury address of the DeFi synthetic asset protocol Metronome.Previously reported, c0ffeebabe.eth refunded 2879 ETH (approximately 5.4 million USD) to the Curve.fi: Deloyer address.

ChainCatcher message, the Shield monitoring shows that the MEV bot c0ffeebabe.eth has refunded 2879 ETH (approximately 5.4 million USD) to the Curve.fi: Deloyer address.

ChainCatcher news, Flex Yang, the former founder of the crypto financial service provider Babel Finance ([Babel Finance](https://www.rootdata.com/zh/Projects/detail/Babel Finance?k=NDE5Mg==)) and the founder of the distributed stablecoin HOPE, published an open letter stating that Babel Finance Group's bankruptcy protection hearing was held in the Singapore High Court, officially initiating the court restructuring process. "This is a milestone result since I decided to return to oversee the restructuring work after leaving Babel in 2021 and during the Babel crisis in mid-2022." (Source link)

ChainCatcher news, SushiSwap CEO Jared Grey tweeted that he has confirmed the recovery of over 300 ETH of Sifu's stolen funds from CoffeeBabe and is in contact with the Lido team regarding the issue of 700 ETH. (Source link)

ChainCatcher news, according to court documents cited by Bloomberg, the crypto financial service provider Babel Finance is undergoing a restructuring of $766 million in creditor debt. Meanwhile, Yang Zhou, the founder who returned to Babel after the crisis in 2022, is planning to submit a stay order to the Singapore High Court, requesting that creditors refrain from taking further action against the company for six months while seeking approval for the restructuring.After leaving Babel in 2021, Yang has been building a DeFi project called "Hope," which will initially use Bitcoin and Ethereum as collateral for its eponymous stablecoin, maintaining its price peg to $1 through incentives for traders to arbitrage.It is reported that last year, Babel's proprietary trading division incurred a $766 million deficit using customer funds. According to Babel's estimates, the company and its clients lost $524 million in Bitcoin, Ethereum, and other tokens due to the trading activities of co-founder Wang Li. Additionally, Babel's counterparties faced $224 million in losses after liquidating collateral when they were unable to meet substantial margin calls. (Bloomberg)

Chain Catcher news, Project Babel fan lucky token PLT will be launched on PancakeSwap tomorrow at 9:09 AM. It is reported that the fan lucky token is initiated by the Project Babel Chinese DAO, aiming to spread the core idea of the Project Babel Tower of Babel plan, assist the community in positive development, and collaborate with the official Project Babel.Project Babel is knowledge-driven, building a Web3 application and content layer metaverse entrance. Its three major application scenarios are: a visualized Wikipedia, a rewarding Q&A community, and a co-constructible Metaverse. (Source link)