BTC $65,145.00 +1.14%
ETH $1,898.97 +2.14%
BNB $570.19 +0.32%
XRP $1.11 +1.58%
SOL $77.62 +2.35%
TRX $0.3264 -0.14%
DOGE $0.0719 +0.04%
ADA $0.1695 +2.48%
BCH $220.24 +1.90%
LINK $8.56 +2.73%
HYPE $62.50 +2.57%
AAVE $89.47 +0.47%
SUI $0.7625 +2.09%
XLM $0.1883 -0.57%
ZEC $546.48 -0.14%
BTC $65,145.00 +1.14%
ETH $1,898.97 +2.14%
BNB $570.19 +0.32%
XRP $1.11 +1.58%
SOL $77.62 +2.35%
TRX $0.3264 -0.14%
DOGE $0.0719 +0.04%
ADA $0.1695 +2.48%
BCH $220.24 +1.90%
LINK $8.56 +2.73%
HYPE $62.50 +2.57%
AAVE $89.47 +0.47%
SUI $0.7625 +2.09%
XLM $0.1883 -0.57%
ZEC $546.48 -0.14%

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Article
Flash

Allbridge suffered a loss of approximately $1.65 million due to a flash loan attack, and the cross-chain protocol has been suspended

According to Decrypt, the cross-chain bridge protocol Allbridge has suspended its Core protocol due to a flash loan attack, with the attacker having stolen approximately $1.65 million in assets from the Solana stablecoin liquidity pool.According to analysis by blockchain security firms PeckShield and CertiK, the attacker borrowed $1.12 million in flash loan funds through the Solana lending protocol Kamino, and then manipulated the price mechanism within the Allbridge pool through multiple stablecoin exchange operations to exchange assets at a low price, subsequently transferring the funds across chains to an Ethereum address.During the attack, the attacker exchanged several thousand dollars in USDT to obtain approximately $2.24 million in USDC, and then bridged the funds to Ethereum for further dispersal. It is currently unclear whether some of the funds can still be recovered.Allbridge stated that the team has suspended the Core protocol for security reasons and has requested affected liquidity providers to withdraw their funds immediately. Due to the attack causing an imbalance in the liquidity pool, some traders profited from arbitrage opportunities. Allbridge has called on relevant users to return their profits, stating that the funds will be used to compensate affected LPs.The team indicated that there is no further risk to user funds at this time and will release a detailed incident analysis report after completing the investigation, while also planning to relaunch the Core protocol after removing the liquidity pool. This is the second time Allbridge has encountered a similar flash loan attack. In April 2023, the protocol's BNB Chain liquidity pool suffered a loss of approximately $573,000 due to a similar vulnerability, after which the project team stated that they had recovered most of the funds and adjusted the liquidity calculation mechanism.

Officials from the South Korean National Tax Service proposed to amend the Criminal Procedure Act to strengthen the rules for seizing individuals' virtual assets

According to Digital Asset, officials from the Korean National Tax Service have proposed legislative suggestions, believing it is necessary to amend the Criminal Procedure Act to allow for the seizure of virtual assets held by individuals. Individual ownership of digital assets refers to the situation where the private key is directly held by the individual, without the need to entrust a third party for custody or disposal.In June of this year, four individuals, including Zhang Xiyuan, the head of the National Tax Service investigation team, published a paper titled "Limitations and Legislative Review of Self-Protecting Virtual Asset Seizure Execution" in the journal "Criminal Policy Research" of the Korean Institute of Criminology and Justice. The paper explains that separate regulations must be established for the requirements and procedures for transferring to a public wallet or obtaining control. The paper first points out that when a suspect or owner holds access means such as a private key, the search warrant must clearly specify the following: the type and quantity of digital assets to be seized; verified addresses; addresses to be transferred; methods of transfer; and storage methods after the transfer. Furthermore, due to the risks of theft associated with transferring assets to wallets managed by a single entity, the paper proposes a method for transferring to a joint address managed by both the court and investigative agencies.

Bitget adds 22 US stock tokens (rToken) to support weekend trading

According to the official announcement, Bitget has added 22 US stock tokens (rToken) that support weekend trading, including rMRNA (Moderna), rAMAT (Applied Materials), rORCL (Oracle), and other underlying assets. After this update, the number of stock tokens that the platform supports for weekend trading has increased to 61.During the US stock market's off-hours, the platform will generate weekend continuous trading prices based on Friday's closing price, market maker quotes, and market expectations. This feature supports limit orders and take-profit/stop-loss settings. To prevent abnormal fluctuations, the system has a protection limit of approximately ±20% for weekend limit orders.It is reported that the rTokens, identified by the letter r + stock code (for example, Nvidia is rNVDA), are issued by Reality, a licensed RWA protocol under Bitget, and are directly connected to global liquidity pools such as Nasdaq and the New York Stock Exchange through collaboration with the compliant broker Alpaca. Their features include: 1:1 reserves of underlying assets held by licensed custodians, stock dividends distributed in token form at a 1:1 ratio, corporate actions such as stock splits and consolidations mirrored in real-time, and positions that can serve as joint collateral for unified accounts and U-based contracts, allowing users to flexibly manage funds while holding global stock assets.
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