cross-chain

Tether Asset Interoperability Protocol USDT0 announced that its cross-chain transfer volume has surpassed 10 billion USD. This milestone means that USDT0 has become the fastest project in history to reach a cross-chain stablecoin transfer scale of 10 billion USD in just 525 days.Data shows that approximately 6.5 million active wallets have adopted USDT0 as their settlement infrastructure, covering a variety of participants including exchanges, hedge funds, and ordinary users, with the network's cumulative token turnover rate reaching about 27 times.USDT0 stated that with the growth of AI Agent trading and institutional cross-chain settlement demand, the need for an "all-weather, low-friction, unified settlement system" is rapidly increasing.

Taiko released a security incident update on platform X, stating that the incident has been brought under control, the cross-chain bridge and vault have been suspended, and funds can no longer be withdrawn. The cross-chain bridge is offline in both directions, and pending transactions are in a suspended state rather than lost. More information will be announced soon.

Taiko posted on platform X that it has confirmed the chain state verification mechanism of Taiko has been compromised, and the security assumptions of all cross-chain bridges deployed on Taiko are no longer reliable.Taiko is coordinating with the security committee and ecosystem partners to control the situation, suspend affected systems, and take technical and legal action. Taiko strongly advises all users to immediately withdraw funds from all cross-chain bridges deployed on Taiko.Taiko urgently requests all centralized exchanges to suspend TAIKO token deposits until further notice. The attacker's address has been disclosed. Previously, it was reported that the Taiko ERC20 Vault was attacked, resulting in losses exceeding $1 million.

The blockchain research organization Common Prefix disclosed that on June 10, hackers exploited a vulnerability in the Secret Network and Axelar cross-chain bridge contract to forge deposits and mint uncollateralized tokens, subsequently cashing out approximately $4.67 million.The attack went undetected for seven days until a normal cross-chain transfer failed due to insufficient funds in the escrow account on June 17, revealing the anomaly. The root of the vulnerability lies in the fact that when the contract changed from an escrow model to a minting model, it deleted two key functions responsible for verifying the source of transfers, and it had never undergone an external audit since its deployment in early 2023. Secret Network pointed out that the Axelar bridging infrastructure failed to trigger any effective anomaly monitoring or emergency pause mechanism before the assets were stolen on a large scale.The stolen funds were routed through Osmosis to Ethereum and exchanged for ETH on CoW Protocol, then dispersed into exchanges such as KuCoin, ChangeNow, and HitBTC. Currently, approximately $672,000 remains in the attackers' Axelar wallet. Secret Network has requested Axelar to freeze that address, but the request was denied. Axelar emphasized that its core protocol was never affected, and the exploited contract was not developed or maintained by Axelar. Currently, Axelar has disabled the related cross-chain connections and stated that it is coordinating follow-up actions with exchanges and law enforcement agencies.

According to official news, Circle announced that the cross-chain transfer protocol CCTP now supports Stellar and has included Stellar in Domain 27. In the latest release notes, Circle introduced the content of this update and the key integration details that developers need to pay attention to before transferring USDC in or out of Stellar.

Hyperbridge Cross-Chain Interoperability Protocol Hyperbridge announced the completion of a comprehensive architecture reboot, re-launching after completing security audits, bug bounty incentives, and system reconstruction, and officially transforming into a "hyperstructure." The protocol was suspended after the security incident on April 13, during which it completed a joint audit with organizations such as SRLabs and paid over $150,000 in bounties to security researchers.The team stated that this upgrade removed the original centralized management keys, transitioning to a fully permissionless network of validators and provers, achieving full-stack decentralized operation.This reboot also introduced the "Hyper Fungible Token (HFT)" standard, making each cross-chain asset an independent application layer structure, with issuers autonomously controlling cross-chain behavior rules, including pause mechanisms and throttling strategies. Hyperbridge also released the OFT (Omnichain Fungible Token) adapter, which is compatible with existing cross-chain protocols like LayerZero, allowing assets to be migrated to a zero-knowledge proof-based transport layer by simply modifying configuration parameters, without the need to redeploy contracts.In addition, the protocol's business model has shifted from a pay-per-use model to a subscription model, allowing cross-chain applications to pay a stablecoin fee of $50 to $1,000 per month for bandwidth services. The official statement indicated that this upgrade marks Hyperbridge's transition from an early cross-chain bridge project to a fully decentralized infrastructure protocol, aiming to provide a unified interoperability layer for a multi-chain ecosystem without the need for trusted intermediaries.

According to monitoring by Blockaid, a key leakage incident occurred on the cross-chain bridge of MILC Media Metaverse on BNB and Ethereum. The attacker exploited a historical bridge administrator wallet to grant administrator privileges to an EOA address they controlled, subsequently extracting MLT tokens from the bridge contract and transferring the administrator control of the cross-chain bridge to the attacker's wallet.Currently, the attacker has obtained approximately 97,003 USDT on BSC and transferred about 39.21 ETH on Ethereum through Rhino.fi, with total losses amounting to approximately $161,000.

Messari released the "TON Q1 2026 Report," which shows that despite a 26.4% drop in the price of TON during the quarter, the overall TON ecosystem remains resilient, supported by Telegram's large user base. Among them, revenue from Telegram products settled through Fragment decreased by 20.3% quarter-on-quarter to $88.5 million, while recurring revenues such as Premium subscriptions and advertising only fell by 10.5%, performing better than non-recurring businesses like Stars.Data shows that driven by the demand for on-chain products such as Telegram usernames, numbers, and Gifts, the market share of TON NFTs in the cross-chain market increased by 130.4% quarter-on-quarter, reaching 35.5%. In terms of DeFi, the total value locked (TVL) in USD terms decreased by 34.9% quarter-on-quarter, but in TON terms, it only fell by 11.6%. The average daily transfer amount of USDT dropped by 32.5% to $7.7 million, although the average daily number of transfers remained around 73,600, indicating that peer-to-peer Telegram transfers and Mini App payments are replacing large DeFi transactions.In terms of user activity, the number of daily active addresses on TON decreased by 8.8% quarter-on-quarter to 90,800, indicating no significant new user growth in the first quarter. However, the number of transactions per address increased from 19.2 to 21, reflecting enhanced engagement among existing users.After the end of the first quarter, the "Make TON Great Again (MTONGA)" initiative launched by TON has completed four out of seven measures, including the launch of Catchain 2 for sub-second finality, reducing transaction fees by about six times, and making Telegram the largest validator of TON, with a current staking size of 2.2 million TON. Messari states that the second quarter will be a key observation period to test whether infrastructure upgrades can drive a large-scale conversion of Telegram's broader user base into active users on the TON chain.

Syscoin posted on platform X to provide the community with a preliminary update regarding the recent cross-chain bridge security incident involving 5 billion SYS tokens. The bridging service has been suspended, and the team is investigating and fixing the validation issues. The attacker exploited a validation vulnerability in the cross-chain bridge process to create unauthorized SYS outputs on the UTXO side.The affected funds have been transferred and split, and the team is tracking and coordinating with exchanges and ecosystem partners to prevent the contaminated UTXOs from being deposited, traded, or further distributed. The team has identified a fix and advises users not to interact with the cross-chain bridge until it is restored.

According to The Defiant, approximately $220 million of unfrozen funds from the Kelp DAO cross-chain bridge attack has been almost entirely laundered by hackers. On-chain analyst Arkham Intelligence tracking shows that only about $1.7 million remains in the original attacker's wallet. This hacker is linked to North Korea and previously launched a $292 million cross-chain bridge attack on LayerZero in April.Funds were transferred using privacy tools such as THORChain, Wasabi, Tornado Cash, and Umbra. The approximately $71 million in Ethereum frozen by the Arbitrum security council on April 20 is currently the only recoverable portion. A report released by LayerZero on May 18 attributed the attack to the North Korean group TraderTraitor. Kelp has recovered approximately 116,000 rsETH by migrating to Chainlink CCIP and the DeFi United program, while the Aave security module absorbed about $190 million in bad debt.

The Cosmos ecosystem cross-chain bridge Gravity Bridge is suspected to have been attacked due to the leakage of its signing keys, resulting in approximately $5.4 million in assets being stolen. The official team has confirmed that a security incident has occurred and has urgently suspended bridge services for investigation, while also requesting validators to suspend the operation of validation nodes and coordinators. It is reported that its contract keys may have been compromised.

Blockaid disclosed on platform X that the Alephium TokenBridge Ethereum cross-chain bridge was attacked. The attacker controlled 3 out of 4 Guardian keys to forge a VAA (Verification Authorization Message) and completed the attack in about 7 minutes, stealing approximately $815,000 in assets.During the attack, the attacker minted 13.76 million Wrapped ALPH out of thin air, exceeding the circulating supply before the attack by over 100%, while also unlocking and transferring assets such as USDT, USDC, WBTC, and WETH from the custody pool.Currently, the attacker's address still holds approximately $815,000 in stolen assets and 13.76 million uncollateralized Wrapped ALPH, with the largest abnormal transaction being the minting of 13.76 million Wrapped ALPH out of thin air.

Babylon Labs has initiated a temperature check proposal in the Aave community, proposing to integrate native Bitcoin as collateral on Aave V4 through the Babylon Trustless Bitcoin Vaults protocol.This solution does not require wrapping, cross-chain bridges, or custodians. Users will lock Bitcoin in Taproot UTXOs, and redemptions will be controlled by on-chain rules (such as loan repayments), settling directly to Bitcoin UTXOs. The proposal deploys two Aave V4 Spokes: Babylon Core Lending Spoke (lending) and BTC Vault Swap Spoke (post-liquidation settlement).Collateral exists in the form of vaultBTC, a transfer-restricted ERC-20 token that can only be transferred between fixed whitelisted addresses. In the liquidation process, liquidators can immediately settle with WBTC, and subsequent Bitcoin redemptions will be completed by arbitrageurs.

Toncoin announced that its bridge-v3 cross-chain bridge is scheduled to officially and permanently close on September 1, 2026. During the transition period before the closure, all proportionally charged cross-chain fees have been canceled, and users who have used the bridge are reminded to check their wallets as soon as possible and complete the withdrawal of any unprocessed or unrecovered assets before the deadline.If you hold Wrapped TON in Ethereum or BNB Smart Chain, you should rebridge to the TON network before the deadline. If you hold tokens such as jUSDT, jUSDC, jDAI, jWBTC, etc., you need to bridge back to the Ethereum network. Users must complete all asset migrations before the deadline to avoid assets being unable to operate across chains. After September 1, the cross-chain bridge will stop all transfer functions.

Uniswap's governance proposal aims to extend the protocol fee collection and burning infrastructure to BNB Chain and Polygon, and to complete the fee activation process on Celo that was not executed due to a configuration error.The proposal includes: setting the fee receiving address for the V2 protocol on BNB Chain, Polygon, and Celo to TokenJar, and designating the V3 Factory owner on the relevant chains as V3OpenFeeAdapter; additionally, Celo will transfer the feeToSetter role and V4 PoolManager ownership to CrossChainAccount.The proposal states that fees from each chain will be aggregated into the corresponding TokenJar, and then UNI will be bridged back to the Ethereum mainnet and sent to the burn address.

The cross-chain infrastructure platform Squid has completed a $6 million strategic financing round, led by North Island Ventures, with participation from Ripple, Dialectic, Borderless, and others.It is reported that Squid was initially incubated within the Axelar ecosystem and later developed into an independent platform. Since its launch in 2023, Squid claims to have processed over $6 billion in cross-chain transaction volume, covering more than 100 blockchains, with a total of over 4 million transactions and more than 1 million users. After this round of financing, Squid's total funding amount has reached $13.5 million. The company plans to use the new funds to launch new consumer-facing products, further simplifying the process for users to access, manage, and use crypto assets across chains.

The cross-chain network Everclear officially announced on social media that it has decided to end the operations of the Everclear Foundation and Labs, and to stop product development. Currently, the protocol has been shut down, and the Everclear UI and chain have ceased operation. The team stated that the remaining TVL in the protocol has been fully withdrawn, and to their knowledge, no user funds are trapped.Regarding the reasons for the shutdown, Everclear stated that although the monthly trading volume had previously reached $500 million, the team failed to establish sufficient commercial depth and convert it into effective revenue due to users' high price sensitivity in the cross-chain solver field. Additionally, the team exhausted its funds (runway) during the transition to a B2B2C model over the past six months, and several acquisition proposals explored were also unsuccessful.For future arrangements, Everclear is conducting an orderly liquidation to address outstanding debts. The team stated that if there are remaining funds after the debts are settled, they will explore repurchasing existing tokens, with a potential total repurchase amount estimated between $50,000 and $200,000, but this has not yet been finalized. Furthermore, the foundation is considering open-sourcing the protocol's intellectual property (IP) to give the DAO the option to continue advancing work under new management; currently, the DAO itself is still operational.

Syndicate Labs, Everclear, and ZERO Network announced the cessation of operations on the same day, highlighting the deep dilemmas in the blockchain infrastructure sector.Syndicate Labs, a startup supported by a16z and having raised over $27 million, announced its closure after five years of operation, stating that EVM Rollup is no longer the industry standard and the market has fundamentally shifted to custom chains. The cross-chain settlement protocol Everclear (formerly Connext) announced hours later that it would shut down its foundation and lab entities, despite having a monthly trading volume that once reached $500 million, it was unable to convert that volume into revenue, and the CLEAR token dropped about 40% on the same day. The gasless Ethereum Layer 2 ZERO Network built by the crypto wallet Zerion also announced its closure on the same day, with the team shifting focus to the development of Zerion wallet and API products, and users must bridge their funds out by July 31.The common dilemma faced by the three projects is that even with venture capital funding and operational products, it remains difficult to find a sustainable business model to withstand market deterioration.

According to on-chain analyst PeckShield (@PeckShieldAlert), the attacker of the VerusCoin cross-chain bridge has returned 4,052.4 ETH (approximately $8.5 million) to the project team's address (0xF9AB...C1A74), which accounts for 75% of the total stolen amount. The remaining 25% (1,350 ETH, approximately $2.8 million) is retained in the attacker's wallet as a white hat bounty.