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BCH $285.16 -4.86%
LINK $8.93 -2.08%
HYPE $71.81 +5.16%
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SUI $0.8666 -1.68%
XLM $0.2482 -1.43%
ZEC $532.89 -3.81%

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A man in Qingdao, China, was sentenced to 10 years and 9 months for stealing 107 BTC while "helping an acquaintance register a wallet."

Recently, the People's Procuratorate of Licang District, Qingdao City, Shandong Province, China, handled a Bitcoin theft case. The defendant, Zhang, obtained the mnemonic phrase while assisting an acquaintance in registering a virtual currency wallet, and later transferred 107 BTC in multiple transactions, equivalent to over 50 million yuan at current market prices. Zhang argued that his actions were a "protective takeover," but the prosecution found that he transferred the stolen BTC through multiple trading platforms and exchanged it for over 660,000 yuan. The Licang District Court sentenced Zhang to 10 years and 9 months in prison for theft and imposed a fine of 100,000 yuan; the second instance upheld the original judgment.Reports indicate that the prosecutor handling the case strictly adhered to laws and judicial policies, and after in-depth analysis, concluded that although China's regulatory policies deny the legal currency status of virtual currencies, they do not negate their property attributes, nor do they prohibit citizens from legally holding and circulating them. Bitcoin requires investment in computing power, funds, and other costs to acquire, which gives it economic value; rights holders can achieve exclusive control and management through private keys and mnemonic phrases, aligning with the core characteristics of "property" in criminal law, making it a target for theft. In determining the amount, since virtual currencies have no official pricing, the Licang District Procuratorate discarded market price estimates and used the actual proceeds from the crime of over 660,000 yuan as the amount for theft, ensuring accurate conviction, appropriate sentencing, and unity of guilt and punishment.

Aave releases post-attack investigation on Kelp rsETH bridge

Regarding the attack on the Kelp rsETH LayerZero V2 bridge that occurred on April 18, Aave released a post-incident investigation on the X platform, emphasizing that the exposure was primarily due to third-party bridge infrastructure rather than the protocol itself. The attacker executed an RPC poisoning attack targeting a single validator of LayerZero, forging a cross-chain message. This led to the release of 116,500 rsETH on the Ethereum side without actual destruction on Unichain. The attacker subsequently deposited the stolen rsETH into Aave V3 (Ethereum Core and Arbitrum), borrowing approximately 82,650 WETH and 821 wstETH.The Aave Protocol Guardian and Risk Steward immediately implemented protective measures for the rsETH and WETH reserves. Currently, the WETH and rsETH markets in the affected V3 deployments are operating normally. The rsETH held by the attacker on Arbitrum has been destroyed, the LayerZero OFT adapter has been fully recharged in five batches, rsETH support has been fully restored, and Kelp has reopened the withdrawal, bridging, and claims functions for rsETH. The WETH LTV in the affected markets has been reset to pre-attack values, and Aave V3 is fully operational across all markets except for rsETH.The Arbitrum DAO has voted to authorize the transfer of frozen ETH to Aave LLC, and it is currently awaiting on-chain execution. The court is still reviewing the substantive content of the injunction, and Aave LLC will continue to comply with the injunction during the court's deliberation. Ongoing projects include: the Aave risk framework from Llama Risk, the bridging assessment framework, the release of evaluation reports for currently live assets, on-chain execution of Arbitrum DAO votes, and the court's review of the injunction.

DxSale is suspected of "insider theft," with over $7.3 million in LP drained

On-chain security analysis account Eye stated that the BNB Chain project launch platform DxSale is suspected of exploiting a hidden backdoor to siphon off funds from an old liquidity pool locked in 2021, involving over 1,400 LPs and an amount of approximately $7.3 million. The analysis indicates that this attack includes operations such as "silent ownership transfer" and over 80 wallet hops.After the LP was drained, the attack address received over 1,200 BNB (approximately $763,000), with the funds believed to come directly from multiple stolen LP pools. More concerning is that this address had previously been dormant for a long time but has a direct on-chain association with a wallet marked as related to the DxSale team; this address is also one of the important funding inflow addresses for the DxSale smart contract.Subsequently, the attack address transferred about 3,400 BNB (approximately $1.2 million) to multiple wallets and completed the fund transfer through several Binance deposit addresses. Eye stated that if the related accusations are true, it implies that the DxSale team may have reserved a backdoor for the platform years ago and ultimately carried out the attack themselves. They also called for Binance to freeze the related funds, believing that these assets essentially belong to the project investors who had previously financed through DxSale. DxSale was one of the most well-known launchpads and LP locking infrastructure on the BNB Chain, with projects like SAFEMOON having used its services.
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