DeFi lending protocol CrediX suffered a $4.5 million exploit after attackers gained administrative control of the project’s multisig wallet and abused bridge privileges to mint unbacked collateral tokens. The breach occurred six days before detection when the compromised admin account was granted multiple high-level roles, including pool admin, bridge controller, and emergency admin permissions. Source: SlowMist on X Blockchain security firms SlowMist and PeckShield identified that the attacker used Tornado Cash-funded addresses to bridge funds to the Sonic network before exploiting the BRIDGE role to mint acUSDC tokens directly. The hacker then borrowed large amounts against the worthless collateral, draining approximately $2.64 million from the protocol’s lending pools. Attack Mirrors Previous Exchange Exploits Using Admin Compromise The CrediX exploit follows a pattern established by major crypto hacks, including the $234 million WazirX breach in July 2024 . Both attacks involved compromised administrative access that bypassed normal security measures through legitimate-appearing transactions from authorized accounts. Security analysis revealed that the attacker’s address 0xF321***662e held extensive privileges across CrediX’s infrastructure. The POOL_ADMIN, BRIDGE, ASSET_LISTING_ADMIN, EMERGENCY_ADMIN, and RISK_ADMIN roles provided comprehensive control over protocol operations and asset management. Today's @CrediX_fi hack is due to compromised admin account 0xF321683831Be16eeD74dfA58b02a37483cEC662e, which has a number of roles, including POOL_ADMIN, BRIDGE, ASSET_LISTING_ADMIN, EMERGENCY_ADMIN, and RISK_ADMIN. And the BRIDGE role is abused to drain/borrow pool assets… https://t.co/JGuLmh8zWu pic.twitter.com/0jmAuvtcJv — PeckShield Inc. (@peckshield) August 4, 2025 The bridge role abuse allowed direct minting of collateral tokens without backing assets, creating artificial value that supported massive borrowing positions. After draining the pools, most stolen funds were bridged back to the Ethereum mainnet with no subsequent movement detected by monitoring systems. CrediX immediately disabled its website to prevent additional user deposits while directing existing users to withdraw funds directly through smart contracts. The protocol had previously secured a $60 million credit line in 2023, making it a major player in institutional DeFi lending markets. The attack methodology resembles the WazirX hack, where malicious actors manipulated multisig wallet interfaces to trick authorized signers into approving compromised smart contract upgrades. Both incidents leveraged open vulnerabilities in known administrative access controls and multisig security implementations. Crypto Security Deteriorates Amid Rising Exploit Frequency The CrediX breach adds to crypto’s devastating 2025 security record, with July losses reaching $142 million across 17 major incidents , according to PeckShield data. July crypto hack losses surge 27% to $142 million with CoinDCX's $44 million insider breach and GMX's $42 million exploit leading victims. #July #CryptoHack https://t.co/4UCMKaxUvI — Cryptonews.com (@cryptonews) August 1, 2025 The 27.2% increase from June’s $111.6 million reversed a temporary decline in hack-related losses. Major July exploits included Indian exchange CoinDCX losing $44.2 million through insider involvement and GMX protocol suffering $42 million in re-entrancy attacks. The CoinDCX incident involved employee Rahul Agarwal, whose compromised laptop provided hackers with system access after receiving malicious files from German contacts. Physical violence against crypto holders escalated alongside digital attacks, with 32 “wrench attacks” reported globally in 2025. For example, France experienced nearly one-third of incidents , including kidnapping attempts targeting crypto executives and their family members, with ransom demands reaching €7 million. Crypto investors also lost over $2.2 billion in 2025’s first half through 344 separate incidents, already exceeding all of 2024’s security losses. Wallet-related breaches accounted for $1.7 billion across 34 attacks, while phishing scams stole $410 million in 132 incidents. The WazirX exchange remains in legal proceedings following its 2024 hack, with Singapore’s High Court recently allowing creditor revoting on an amended restructuring plan . The court reversal provides hope for affected users who have been unable to access funds for nearly one year. Recovery efforts across all 2025 incidents have returned $187 million through law enforcement action, white-hat agreements, and exchange cooperation. However, net losses still total approximately $2.29 billion with an average incident loss of $7.1 million. For CrediX, the protocol has announced a full refund for all affected users within 24-48 hours, with a post-mortem report expected to be released after restoration. All users funds will be recovered in full within 24-48 hours — CrediX (@CrediX_fi) August 4, 2025 The post CrediX DeFi Protocol Exploited as Hacker Gains Admin Rights, Drains Pool appeared first on Cryptonews .
Cryptocurrency markets showed resilience in July despite looming geopolitical tensions. September may be pivotal, with potential ETF approvals affecting altcoins. Continue Reading: Crypto Markets Brace for Turbulence in September The post Crypto Markets Brace for Turbulence in September appeared first on COINTURK NEWS .
Widely followed quant analyst PlanB is taking an opposing view to most traders about the chances of Bitcoin ( BTC ) reaching $300,000. In a new strategy session, pseudonymous BTC analyst PlanB tells his 216,000 YouTube subscribers that while most market participants don’t expect BTC to reach $300,000 by the end of 2026, he does. “Now, 60% of people think that Bitcoin will not reach $300,000 by the end of 2026 – that’s this line, one and a half years from now. So, by the end of next year, this is the $300,000 point. Sixty percent of people think we’re not going to get there. In my opinion, we will. In fact, I think we’ll go a little higher, to the stock-to-flow target of $500,000 on average. That’s a very rough model, of course, based on scarcity and the stock-to-flow ratio. It has a range of $250,000 to $1 million, so the average could be $300,000 or $600,000. That’s all good, but at the very least, it will be higher than what most people think.” The stock-to-flow model is a predictive tool that assumes the scarcity of a commodity drives the price. While originally created to track traditional commodities, PlanB was the first to apply it to Bitcoin. The analyst is also watching Bitcoin’s realized price indicator, which looks at what price certain cohorts of coins were last transacted on-chain, divided by the number of bitcoins in circulation. Given that the price of BTC is above all the major cohorts, PlanB says there are no signs of a bear market to be seen. “Now, that’s classic bull market behavior, right? You can see that in all bull markets – the 2-year is above the realized, the 6-month is above the 2-year, and then Bitcoin, represented by the red dots, is above them all. So there’s no bear market warning signs whatsoever.” BTC is worth $115,043 at time of writing, up 1% on the day. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Quant Analyst PlanB Predicts Contrarian $300,000 Bitcoin Price Target – Here’s His Timeline appeared first on The Daily Hodl .
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Bitcoin ETF netflows may be key in gauging market appetite as exchange order-book liquidity puts $116,000 top of the list for bulls.
A turbulent week saw bitcoin ETFs shed $643 million, their worst weekly performance since April, while ether ETFs added $154 million, despite Friday’s rout snapping a 20-day inflow streak. BTC Suffers Historic Outflows as ETH Momentum Slows Down After 20-Day Run The crypto ETF market experienced a week of extremes. What began with steady inflows
As Cardano (ADA) circles crucial resistance levels in its quest to reclaim the $3 mark, market watchers are turning their attention to a surprising coin, Mutuum Finance (MUTM) . Mutuum Finance is currently in Phase 6, with the token priced at $0.035. The next price rise is set at 14.29% higher, which will take the token to $0.04. Presale buyers who invest during this phase will experience a return on investment of 71.43% upon launch of the token at $0.06. MUTM presale has raised more than $14 million and gained more than 14,800 unique holders. While ADA’s price momentum remains under the microscope amid fluctuating macroeconomic signals and shifting investor sentiment, the rising interest in Mutuum Finance is quietly gaining traction. Cardano (ADA) Pushes Toward $1 As Resistance Nears $0.85 Cardano is currently trading around $0.76, having climbed from July lows in the $0.60–$0.65 range and holding firm above key support near $0.80 after a breakout from a multi-week consolidation pattern. Technical signals are showing strength: rising open interest, a bullish pennant breakout, and key EMAs turning higher, fueling analyst expectations of a rally toward $1.00–$1.20, with some forecasts even projecting $2.00–$3.00 later in 2025 if momentum continues and ecosystem adoption accelerates. Still, failure to clear resistance around $0.85–$0.90 could see ADA remain range-bound or retrace toward $0.70–$0.75 in the near term. In this market, traders are also monitoring evolving DeFi themes and emerging utility protocols like Mutuum Finance. Phase 6 of the Mutuum Finance Presale Mutuum Finance just ended its Phase 5 presale and moved into Phase 6, with its tokens selling at $0.035. The next price adjustment will see another 14.29% increase to take the token price to $0.04. Early investors will enjoy a 71.43% ROI when the token falls at $0.06. The presale of MUTM already raised more than $14 million and acquired more than 14,800 individual holders. Mutuum Finance Partners with CertiK to Launch $50K Bug Bounty Mutuum Finance has partnered with CertiK to launch a Bug Bounty Program. The program reward pool is $50,000 USDT. Four severities i.e. low, minor, major and critical will be rewarded. The move showcases the objective of Mutuum Finance to create community-driven, secure and sustainable ecosystem. The project has also been extensively audited by Certik for user fund security and blockchain security. The triumph is a success of Mutuum Finance’s vision of being an open and institutional-grade DeFi protocol. Massive MUTM Token Giveaway Unveiled by Mutuum Finance Mutuum Finance (MUTM) has launched a $100,000 giveaway wherein the users will be rewarded in $10,000 MUTM tokens. Its recently launched leaderboard system will also reward the top 50 Mutuum Finance holders. Cardano (ADA) may aim for $3, but it’s still trading under $0.80 with heavy resistance ahead. Meanwhile, Mutuum Finance (MUTM) is gaining fast at just $0.035. It’s now in Presale Phase 6 with a 14.29% price jump coming soon. At launch, the token will list at $0.06, giving investors a 71.43% ROI. Over $14 million has already been raised. More than 14,800 investors are in. Backed by CertiK audit, a $50K bug bounty, and a $100K giveaway, MUTM is built for serious long-term growth. Grab your share before the price rises. For more information about Mutuum Finance (MUTM) visit the links below: Website: https://mutuum.com/ Linktree: https://linktr.ee/mutuumfinance
Coinbase CEO Brian Armstrong has responded to the backlash surrounding the company’s latest advertisement for the UK market. He clarified that the video was not intended as a political statement, but rather as a reflection of the deeper issues within the traditional financial system. The Controversial Campaign The U.S.-based exchange recently posted an advertisement on July 31 via X, criticizing the UK’s financial system. Titled ‘Everything Is Fine’, the video features a cheerful song and lyrics that brag about the UK’s strong finances, while showing harsh scenes of inflation, poverty, debt, and people struggling to get by. Meant as a satirical depiction of the state of things, it starts with the line, “We ain’t got no troubles. No reason to complain,” while broken homes and poor people appear on the screen. The song continues, “The streets can’t get no cleaner. Nor the rat meat any leaner. No. Life is just as great,” as dirty streets flash across the screen. The video also makes fun of how expensive things have become in the UK. However, on August 4, Armstrong took to X, claiming the ad had been “banned in the UK by the TV networks,” suggesting it had been censored because it carried an element of truth. “If you can’t say it, then there must be a kernel of truth in it.” Some individuals and politicians have criticized the campaign, arguing that it is a political statement intended to discredit the current government and make Britain a laughingstock. However, the executive explained that calling for updates to the system and societal improvements wasn’t meant to be a political statement about any party in the UK. He also clarified that the clip wasn’t specific to the country, mentioning that the firm had also run ads with similar themes in the U.S.. Crypto As a Fix For Broken Systems According to Armstrong, the point of the clip was to highlight how the traditional financial system is failing many people and how crypto offers a way to address the issue. He added that some people in the UK still view the asset class as “some kind of gambling product,” which he described as a very outdated perspective that ignores its real potential to improve conditions for everyone. The executive concluded by welcoming criticism and censorship efforts, saying they only help the message spread further. The controversial campaign comes at a time when 20.3 million people in the UK, which is 44% of all adults, are living in financially unstable conditions. According to a recent report by Fair4All Finance, this represents a 16% increase since 2022, driven by factors such as unstable incomes, limited savings, poor health, and job loss. Meanwhile, experts say the UK is falling behind in creating clear rules for crypto. A July report from independent think tank OMFIF says that the country continues to make vague promises about future rules in what it described as “policy procrastination,” warning that the EU and U.S. are now leading the way. The post UK Bans Coinbase’s ‘Everything Is Fine’ Ad: CEO Says It Exposes Flaws in Finance appeared first on CryptoPotato .
US President Donald Trump is planning to make new appointments to two key institutions in the coming days. This includes filling the vacant position at the Federal Reserve and appointing new directors to the Bureau of Labor Statistics (BLS). The openings in question occurred on Friday. The first Fed post was opened by the surprise resignation of Board Member Adriana Kugler, while the second position was left vacant after Trump fired Bureau of Labor Statistics Commissioner Erika McEntarfer. Trump told reporters on Sunday that he was considering several candidates for the Fed and would soon appoint a replacement for McEntarfer. “I have a few names in mind, and I'll probably announce them in the next few days,” he said. Kugler's term was set to end in January, but he decided to leave early, effective August 8. He did not provide a reason in his letter to Trump. Kugler, who served on the Fed's board, was also a permanent member of the Federal Open Market Committee (FOMC), which sets interest rates in the U.S. economy. Board members also have a say in banking regulations. Kugler, whose term lasted less than two years, largely aligned with Chairman Jerome Powell's policies. Powell, however, has been a frequent critic of Trump. Trump has previously stated that future Fed nominees will be considered for their propensity to vote for interest rate cuts. Related News: Analysis Company CEO Predicts Potential Altcoin Season - “Transition from Bitcoin to Altcoins...” Krishna Guha, a global policy strategist at Evercore ISI, said Kugler's resignation “accelerates Trump's drive to bring the Fed into line.” Guha believes Trump could use the vacancy to appoint a potential replacement for Powell. Possible candidates include former Fed Governor Kevin Warsh, Treasury Secretary Scott Bessent, and National Economic Council Director Kevin Hassett. McEntarfer's dismissal, meanwhile, comes on the heels of Friday's weak nonfarm payrolls data. According to the BLS, only 73,000 new jobs were added to the US economy in July, while the figures for the previous two months were revised downward by a combined 258,000. Trump criticized McEntarfer in a post on Truth Social on Sunday, holding him responsible for “the biggest calculation errors of the last 50 years.” While revisions to monthly employment data are commonplace, such corrections have become more frequent in recent years as the BLS has experienced a decline in survey responses. Indeed, the agency downgraded its total employment data by 818,000 jobs for the 12 months through March 2024. Speaking to CNBC, National Economic Council Director Kevin Hassett said, “Transparency and reliability in labor force data are crucial. The market positions itself based on this data. Therefore, a fresh perspective is needed.” However, McEntarfer's dismissal sparked backlash due to concerns that an institution like the BLS, which is expected to be technical and impartial, could become politicized. “The politicization of the Fed has been much discussed in recent months, but the politicization of the data collection process is just as dangerous,” JPMorgan Chase Chief Economist Michael Feroli commented. *This is not investment advice. Continue Reading: Donald Trump to Make Two Critical Appointments in the Next Few Days – Could Affect Markets, Here Are the Details
BitcoinWorld Bybit Expands USDT0 Support to HyperEVM, Corn, and Berachain — Unlocking Seamless Stablecoin Access Across Ecosystems DUBAI, UAE, Aug. 5, 2025 /PRNewswire/ — Bybit , the world’s second-largest cryptocurrency exchange by trading volume, has expanded support for USDT0 , the unified liquidity network for the world’s most widely used stablecoin Tether (USDT), enabling native deposits and withdrawals on HyperEVM, Corn, and Berachain. This move accelerates industry momentum toward unified stablecoin liquidity and strengthens the infrastructure for truly interoperable decentralized finance (DeFi). USDT0, built on LayerZero’s Omnichain Fungible Token (OFT) standard, eliminates the need for fragmented bridges, wrapped assets, and duplicated liquidity pools. With this integration, Bybit becomes one of the first major centralized platforms to offer seamless access to native, cross-chain stablecoin functionality across three of the industry’s most innovative Layer 1 ecosystems. A New Standard for Stablecoin Liquidity The addition of USDT0 support on HyperEVM, Corn, and Berachain delivers critical advantages: Capital Efficiency: Unified USDT liquidity across chains, with no synthetic or bridged assets Frictionless UX: Native transfers with provable 1:1 backing and no trust assumptions Ecosystem Growth: Immediate access to institutional-grade liquidity for new and emerging chains USDT0 is already live on Arbitrum, Optimism, Unichain, and others — and its expansion to HyperEVM, Corn, and Berachain further cements its role as the next-generation stablecoin infrastructure. Seamless Onboarding, Exclusive Rewards To celebrate this milestone, Bybit has launched a limited-time campaign offering: Zero-fee withdrawals for USDT0 on HyperEVM, Corn, and Berachain Boosted staking rewards up to 100% APR for eligible deposits Campaign runs from August 4, 2025, until further notice. #Bybit / #TheCryptoArk / #IMakeIt About Bybit Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com . For more details about Bybit, please visit Bybit Press For media inquiries, please contact: media@bybit.com For updates, please follow: Bybit’s Communities and Social Media Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube About USDT0 USDT0, the unified liquidity network for USDT, simplifies cross-chain movement without fragmented pools or complex bridges. As the unified gateway for USDT interoperability and expansion, USDT0 simplifies cross-chain liquidity, enhances accessibility, and unlocks new use cases for Tether holders, businesses, and DeFi platforms. With a focus on efficiency and scalability, USDT0 is redefining how USDT operates across networks. For more information, visit USDT0.to or follow us on Twitter @USDT0 . This post Bybit Expands USDT0 Support to HyperEVM, Corn, and Berachain — Unlocking Seamless Stablecoin Access Across Ecosystems first appeared on BitcoinWorld and is written by chainwire