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DeFi Lending Hacks Now Cost Users Just $3 for Every $10,000 Locked

Euler is modular lending infrastructure for onchain credit.

It lets markets, vaults, and credit products be created around specific assets, collateral rules, pricing models, liquidation settings, governance paths, and account relationships.

The core idea is simple: vaults define market rules, and Euler’s account infrastructure defines how selected vaults and accounts can interact.

That makes Euler a credit layer for programmable finance.

What Euler IsEuler is infrastructure for creating and operating lending markets.

A lending market needs more than supply and borrow buttons. It needs rules for collateral, pricing, interest rates, caps, liquidations, roles, and account control. It also needs clear boundaries around which assets can interact with one another.

Euler V2 breaks those pieces into modular primitives.

The Euler Vault Kit creates configurable ERC-4626 lending vaults. The Ethereum Vault Connector coordinates collateral relationships, account checks, operators, sub-accounts, and batched execution across selected vaults.

Together, they let markets be built, connected, and operated without forcing every asset into one shared risk environment.

Euler Vault KitThe Euler Vault Kit, or EVK, is the framework for creating Euler lending vaults.

Each vault is an ERC-4626 vault with its own configuration. A vault can define its underlying asset, oracle source, interest rate model, borrow and supply caps, liquidation settings, collateral rules, governor, curator, and other market parameters.

This gives builders a standard way to launch lending markets while still controlling the details that matter for the asset and use case.

A vault can be simple and isolated. It can also be part of a larger market design where selected vaults recognize one another as collateral through EVC.

Ethereum Vault ConnectorThe Ethereum Vault Connector, or EVC, is account infrastructure for ERC-4626 vaults.

EVC lets selected vaults recognize deposits in other vaults as collateral. It also supports sub-accounts, scoped operator permissions, batching, and account status checks.

This matters because lending markets often need coordination across multiple vaults. A user may supply one asset, borrow another, repay, rebalance, or move through several steps in one execution path. A builder may need to separate accounts, delegate specific permissions, or connect collateral relationships without building account infrastructure from scratch.

EVC provides that coordination layer.

It does not define the market’s risk model. Vaults and products define those rules. EVC defines how selected vaults and accounts can interact.

Risk Isolation on EulerEach Euler vault is an ERC-4626 lending vault with its own asset, collateral rules, oracle configuration, interest rate model, borrow and supply caps, liquidation parameters, governor, and curator. That means a market can be created with risk parameters specific to the asset and the intended borrower or lender base.

Risk does not automatically flow across every Euler market.

A vault only recognizes another vault as collateral when that relationship is explicitly configured through the Ethereum Vault Connector. This lets builders create isolated markets, selected collateral clusters, or broader cross-collateralized designs without forcing every asset into one shared risk environment.

Market Types on EulerEuler can support several market structures from the same primitives.

Isolated MarketsAn isolated market scopes activity around a defined vault or vault relationship.

This structure is useful when the market needs clear boundaries around collateral, borrow exposure, pricing, and liquidation rules. Long-tail assets, new collateral types, and higher-risk markets often benefit from this type of separation.

Cross-Collateralized MarketsA cross-collateralized market lets selected vaults recognize one another as collateral.

EVC makes this explicit. Vaults do not automatically share risk across the whole system. The market design defines which collateral relationships exist.

This can support markets where several assets are meant to work together, such as stablecoin clusters, related staking assets, or curated collateral sets.

Rehypothecated MarketsA rehypothecated market lets supplied assets be borrowed by other users.

This can improve capital efficiency because deposits are not only used as collateral. They can also support borrowing activity and earn lending interest where there is market demand.

Rehypothecation introduces additional risk. Users and curators need to evaluate liquidity, utilization, borrow demand, caps, collateral rules, and liquidation parameters.

Escrowed Collateral MarketsAn escrowed collateral vault can hold deposits that are used as collateral without allowing borrowing from that vault.

This is useful when an asset should support borrowing elsewhere, but should not itself be lent out. It can help create collateral utility while keeping the supplied asset from being rehypothecated.

Earn VaultsEuler Earn vaults allocate one deposited asset across selected Euler markets or compatible ERC-4626 allocation targets.

Users interact with one vault position. Curators define the eligible markets, allocation caps, queues, roles, and rebalancing logic behind it.

Earn vaults turn a set of Euler markets into a single curated vault product.

Aave vs Morpho vs EulerAave, Morpho, and Euler each use a different market design.

Aave is known for shared-pool lending. Assets are listed into markets where users can supply and borrow against a broad set of approved collateral. This can create deep liquidity and a simple user experience, but risk is coordinated across the listed assets in that market.

Morpho is known for isolated lending markets. Morpho Blue markets are defined around a specific loan asset, collateral asset, oracle, interest rate model, and loan-to-value. This makes risk easier to isolate, but collateral and liquidity are separated market by market.

Euler uses modular lending vaults. Each vault defines its own rules, and selected vaults can recognize one another as collateral through EVC. This means Euler can support Aave-like cross-collateralized markets, Morpho-like isolated markets, and market structures that sit between the two.

The important distinction is configurability.

Euler does not require every asset to share one risk environment. It also does not limit every market to one isolated pair. Builders and curators can define the vaults, collateral relationships, caps, oracles, liquidation rules, governors, and operating roles that fit the market they want to create.

What Can Be Built on EulerEuler can support many credit products from the same underlying primitives.

Credit MarketsLaunch markets around specific assets with defined collateral, borrow limits, pricing, oracle, and liquidation rules.

Earn VaultsCreate ERC-4626 vaults that allocate one deposited asset across selected Euler markets or compatible allocation targets, with curator-defined caps, queues, and rebalancing logic.

Curated ProductsPackage selected markets into vaults, allocation products, or user-facing lending experiences with defined roles and operating paths.

Institutional MarketsCreate open or permissioned lending markets with asset-specific collateral rules, hooks, operating roles, and market parameters.

Embedded Lending ApplicationsIntegrate supply, borrow, repay, collateral, and account flows directly into apps, wallets, and product interfaces.

Agent WorkflowsUse Euler’s structured data, SDKs, APIs, llms.txt, operators, sub-accounts, and batching to let software read market state and prepare scoped lending actions.

EulerSwapCreate AMM liquidity inside Euler vault positions, connecting swap execution with lending, collateral, and LP-specific pool design.

Integrating Euler Into ProductsEuler is not only a destination app. It is infrastructure that other products can build on.

Apps, wallets, agents, institutional platforms, vault products, and market interfaces can integrate Euler primitives directly into their own user flows.

An integrator can use Euler to:

create a lending market around a supported assetadd borrowing or collateral flows to an applicationoffer access to selected Earn vaultsbuild a curator interface for market operationroute users through supply, borrow, repay, and withdraw flowsautomate approved actions through scoped operatorsread market data through structured interfaces and docsThe product can own the interface while Euler provides the lending, collateral, vault, and account infrastructure underneath.

SecurityEuler V2 was built through a multi-layered security process.

The protocol has undergone internal review, independent audits, fuzz testing, formal verification, public audit competitions, live Capture the Flag programs, monitoring, and bug bounty coverage.

Security work is also reflected in the architecture. Modular components are easier to specify, test, and review. Vault-level parameters make market assumptions more explicit. EVC makes collateral relationships and account interactions defined rather than implicit.

No security process removes protocol risk.

Users, curators, and integrators should evaluate vault parameters, oracle configuration, collateral relationships, liquidity, governance paths, and applicable market risks before interacting with any market.

Who Euler Is ForEuler serves several groups.

Users can access lending markets, borrowing markets, Earn vaults, and swap products through interfaces built on Euler.

Curators can launch and operate markets or vault products with defined parameters, roles, caps, queues, and update paths.

Builders can create credit products using EVK, EVC, hooks, SDKs, APIs, and documentation.

Institutions can structure markets around defined collateral, participant sets, operating roles, and asset-specific requirements.

Agents and automation systems can read market data, evaluate vault rules, and execute approved actions through scoped permissions and batched execution.

The Short VersionEuler is modular lending infrastructure.

EVK creates configurable ERC-4626 lending vaults.
EVC connects selected vaults and accounts.
Hooks, operators, sub-accounts, SDKs, APIs, and docs extend what can be built around them.

Euler can support isolated markets, cross-collateralized markets, rehypothecated markets, escrowed collateral, Earn vaults, embedded lending apps, institutional markets, agent workflows, and AMM liquidity inside vault positions.

The result is a credit layer for programmable finance: markets, vaults, and products with configurable collateral, pricing, liquidations, roles, and vault relationships.

PANews reported on May 28th that, according to CoinDesk, VanEck's tokenized US Treasuries fund VBILL, issued by Securitize, has been launched on the decentralized lending protocol Euler. Accredited investors can use it as on-chain collateral for lending, while meeting securities compliance requirements. Euler integrated Securitize's DS Protocol earlier this year to enforce investor eligibility and transfer restrictions in DeFi and obtain VBILL pricing via the RedStone oracle.

The VIX Fear Index for the US stock market stands at 18.63 today, with fear sentiment intensifying in the crypto market.

According to Cboe data, the U.S. stock market's VIX Fear Index stands at 18.63 as of today, down 0.86 points from the prior reading of 19.49, marking a decline of approximately 4.41%. Separately, per Alternative data, the Crypto Fear & Greed Index is at 12 today (compared to 17 yesterday), indicating intensifying extreme fear sentiment.

3 minutes ago

Bank of Japan Board Member: Should Accelerate Pace of Interest Rate Hikes If Upside Inflation Risks Intensify

Bank of Japan (BOJ) Policy Board member Naoki Tamura stated that if upside risks to price growth intensify further, the BOJ should not hesitate to accelerate the pace of interest rate hikes or raise rates by a larger margin. He projected that the BOJ will implement interest rate hikes every few months until its policy rate reaches the neutral level of around 2%. (Golden Ten)

3 minutes ago

Crypto token M plunged over 80% in a short period, hitting a low near $0.5.

According to HTX market data, the token M saw a sharp short-term price plunge, with its decline once exceeding 80% and hitting a low of around $0.5, and is now trading at $0.54.

3 minutes ago

Blockchain data infrastructure firm Cambrian has closed a $6 million funding round, jointly led by Franklin Templeton and Polychain Capital.

Blockchain data infrastructure project Cambrian has closed a $6 million seed round, co-led by Franklin Templeton and Polychain Capital, with participation from Flow Traders, Selini Capital, and other investors. The project previously raised a $5.9 million pre-seed round led by a16z Crypto Startup Accelerator, bringing its total funding to $11.9 million. Cambrian currently provides institutional investors and AI Agents with real-time and historical data APIs covering on-chain yields, risks, lending markets, and trading activities, and plans to further build a verifiable data oracle network. Official data shows it has indexed over $4.5 billion in lending TVL, tracks more than 320,000 DEX liquidity pools, and currently supports Base and Solana, with plans to expand to additional ecosystems including Ethereum. The funds will be used to expand on-chain data coverage, accelerate oracle network development, and team recruitment.

3 minutes ago

Whale 0xbilly pulled off another "buy high, sell low" move, exiting with a $220,000 loss in a single day.

According to EmberCN’s monitoring, whale address 0xbilly liquidated 2,409 ETH in the early hours of today when ETH fell to around $1,569.5, worth approximately $3.78 million, with a total loss of roughly $220,000. Notably, this batch of ETH was purchased just one day ago for about 4 million USDC, at an average price of approximately $1,660.2. The address also previously bought 7,768.5 ETH at a high of $2,254 in March this year, valued at around $17.51 million, and exited via stop-loss four days later, incurring a loss of roughly $800,000.

3 minutes ago

Two whales opened a short position worth approximately $90 million on the S&P 500.

According to monitoring by Onchain Lens, two whale addresses are building short positions on the S&P 500, with a combined position of approximately $90 million. Details are as follows: Whale address "0x469" has opened 6,500 S&P 500 short positions, using 20x leverage, valued at around $48 million, with a liquidation price of $8,413.66. Whale address "0x4ff" has opened 5,686.66 S&P 500 short positions, using 7x leverage, valued at around $42 million, with a liquidation price of $8,358.13.

3 minutes ago

VanEck’s tokenized treasury fund has started trading on Euler using Securitize’s infrastructure, marking a new milestone in decentralized finance. Through this development, eligible investors can now use US Treasury bills represented as tokens on blockchain as collateral, gaining access to liquidity directly within the DeFi ecosystem.

The VBILL tokenized treasury product, operated by Securitize and developed by VanEck, is now available on the Euler platform. Investors can offer US Treasury bills as on-chain collateral and borrow within a blockchain environment, with Securitize’s proprietary DS Protocol deployed throughout the process.

Glossary: The Securitize DS Protocol is a software standard that automatically checks investor eligibility and transfer restrictions for securities transactions on blockchain. This ensures assets are only transferred between approved parties.

Thanks to this protocol, conditions regarding who can transfer tokenized treasury bills and under what circumstances are strictly defined. This framework is widely regarded as essential for compliance-focused investing. Real-time price feeds are delivered via RedStone oracles, ensuring the accurate valuation of token collateral pledged by investors.

According to Securitize ecosystem lead Graham Ferguson, “Some protocols are now showing interest in permissioned assets. Previously, this was uncommon in the DeFi market.”

Institutions ramp up blockchain adoptionThe listing on Euler comes at a time when major financial institutions are increasingly engaging with blockchain-based treasury and money market products. Data from RWA.xyz shows that assets under management in tokenized US Treasuries have topped $15 billion, growing nearly 150 percent over the past year.

Industry giants such as BlackRock, Franklin Templeton, and Janus Henderson have emerged as leading participants in this expanding market. These products primarily target institutional investors seeking collateral linked to real-world yields. Nonetheless, the current volume of tokenized assets in this space remains modest compared to broader financial sector expectations.

OrganizationTokenized Treasury Assets (2024)RWA.xyz$15 billionStandard Chartered (Projected 2028)$2 trillionBCG & Ripple (Projected 2033)$18.9 trillionEuler and DeFi platforms usher in a new eraCurrently, Euler hosts over $320 million in assets on its platform. In recent times, it has pivoted away from a fully permissionless model to adopt a financial architecture more accessible to institutional users. Similarly, other decentralized finance protocols like Aave have begun transforming by introducing real-world asset-based lending platforms, such as Horizon.

Securitize underscores the need for DeFi protocols to align open blockchain structures with institutional compliance standards. As a result, major fund managers and institutional actors are increasingly seeking permissioned assets that comply with regulatory norms. This shift is prompting DeFi protocols to adapt their systems to attract institutional capital.

Institutional dimension arrives for DeFi with tokenized productsThe addition of VBILL to Euler demonstrates that tokenized securities can flow through decentralized channels without sacrificing regulatory oversight. Securitize’s DS Protocol makes this adaptation possible by automatically managing investor qualification and transfer rules within the system.

Thanks to this collaboration, institutional investors on Euler can now use regulated treasury products, not just typical cryptocurrencies, as collateral. This signals a new bridge for DeFi infrastructure into the world of traditional finance, setting the stage for greater institutional participation.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

DECRYPT: DeFi Protocols Are Adjusting for Institutional Investors by Offering Tokenized Treasury Funds on Euler

DeFi fixed income has reached a new milestone.

For the first time, an on-chain fixed-rate borrowing market is being anchored to a transparent benchmark rate.

Curated by KPK, the new ETH markets on Euler set their borrowing rate each cycle using the Treehouse Ethereum Staking Rate (TESR), Treehouse’s on-chain benchmark for Ethereum staking yields under the Decentralized Offered Rates (DOR) framework.

This marks an important step forward for DeFi fixed income: moving from purely variable-rate markets toward benchmark-driven primitives that are transparent, predictable, and accessible on-chain.

DeFi’s First Fixed-Rate Market, Powered by TESR Now live on Euler, the tETH/WETH and wstETH/WETH markets let users deposit tETH or wstETH as collateral and borrow WETH at a fixed rate for the duration of each monthly cycle.

Once a cycle begins, the borrow rate is anchored and locked to the TESR 30-day consensus.

There are no mid-cycle rate changes, no sudden repricing, and no unexpected shifts in borrowing rates during the term. At the end of each cycle, the market references the latest TESR reading before setting the rate for the next cycle.

This creates a more predictable borrowing experience for users who want to manage leverage, duration, and yield strategies without being exposed to constant variable-rate movements.

Borrow WETH at a fixed rate on Euler using tETH or wstETH as collateral.

Why Fixed Rates Matter  Most DeFi lending markets today are variable-rate by design.

While variable rates work for flexible borrowing, they introduce uncertainty. Borrowers cannot reliably forecast their cost of capital. A sudden rate spike can compress returns, disrupt strategies, or erase the expected profit from an entire cycle. 

This is one of the biggest missing pieces in DeFi credit markets.

In traditional finance, fixed income markets are built around rate benchmarks. These benchmarks give lenders, borrowers, institutions, and structured products a common reference point for pricing capital across different durations.

DeFi has historically lacked this foundation.

Without credible, transparent, and widely usable benchmark rates:

Fixed-rate markets have struggled to scaleLiquidity has remained fragmentedPricing has been difficult to standardizeMany fixed-rate products have remained short-lived The TESR-anchored Euler market offers a new path forward.

What is TESR?  TESR, or the Treehouse Ethereum Staking Rate, is the first benchmark under Treehouse’s Decentralized Offered Rates (DOR) framework.

TESR is designed to serve as a transparent reference rate for Ethereum staking yields. Under the DOR consensus-based framework, institutional panelists submit daily 30-day forward forecasts for ETH staking yields. These submissions form a consensus benchmark rate that is transparent, auditable, and resistant to manipulation.

By anchoring fixed-rate markets to TESR, DeFi protocols can price products against a rate that reflects forward-looking expectations for ETH staking yields, rather than relying solely on market utilization or isolated liquidity conditions.

This allows fixed-rate markets to become more standardized, more composable, and more aligned with the way mature credit markets operate.

View the Treehouse Ethereum Staking Rate (TESR) here.

Curated by KPK The market is curated by KPK, one of DeFi’s leading vault curators.

KPK curates vaults across Morpho, Euler, and Gearbox, bringing institutional-grade risk frameworks and structured collateral management to DeFi lending. Their role here extends that same discipline to ETH credit on Euler.

Through its ETH Yield Term vault, KPK supplies WETH liquidity into the Euler market, enabling borrowers to access fixed-rate capital backed by tETH or wstETH collateral.

The decision to build this market around TESR reflects a broader shift in DeFi. Fixed income products need credible benchmarks, professional curation, and transparent infrastructure in order to scale.

From Institutional Desks to Public DeFi Markets  TESR has already begun gaining adoption beyond Treehouse.

Through FalconX, the first TESR-referenced institutional ETH staking rate forwards was launched in September 2025, bringing benchmark-based fixed-income products to institutional trading desks.

Now, that same benchmark powers an open on-chain market accessible to anyone through Euler.

TESR is moving from institutional use cases into public DeFi infrastructure, demonstrating how DOR benchmarks can support both professional counterparties and permissionless markets.

Why This Matters for DeFi  Every mature credit market depends on credible benchmark rates.

Traditional finance has used benchmarks such as LIBOR, SOFR, treasury curves, and other reference rates to price loans, derivatives, swaps, bonds, and structured credit products. These benchmarks create a shared foundation for capital markets by giving participants a common reference point.

DeFi has not had an equivalent foundation.

Most on-chain lending markets are still driven by variable utilization curves. While powerful, these models are not enough to support the full development of fixed income markets. To build more advanced credit products, DeFi needs benchmark rates that are transparent, resilient, and composable.

By bringing benchmark rates on-chain, DOR enables protocols, curators, market makers, and institutions to build financial products that can reference standardized rates directly within DeFi.

The Euler market enabled by TESR is an early example of what that infrastructure can unlock.

Building the Fixed Income Layer of Digital Assets  Treehouse is building the fixed income layer of digital assets.

That vision requires more than yield products. It requires benchmark infrastructure that markets can trust and build on top of.

With TESR now powering a fixed-rate borrowing market on Euler, DeFi has taken a step closer to the kind of benchmark-driven market structure that underpins traditional fixed income.

DeFi has never had a fixed-rate borrowing market anchored to a credible, backtested, and transparent on-chain benchmark.

Until now. 🌳 

Frequently Asked Questions (FAQs) Q: What collateral does the market accept?
A: tETH and wstETH.

Q: What asset can I borrow?
A: WETH.

Q: How is the borrow rate set?
A: At the start of each cycle, the rate is derived from the TESR 30-D consensus published on-chain by DOR. The formula bounds the borrow rate to a 2.05–2.50% APY band, keeping the rate predictable and within a defined range every cycle. 

Q: How long is each cycle?
A: Each cycle runs for the length of the calendar month. The fixed borrow rate applies for all but the final day. On the last day, the borrow rate rises to 50% to incentivize repayment before the cycle closes.

Q: What happens at the end of a cycle?
A: A fresh TESR 30-D reading is pulled from DOR. The rate resets, and a new cycle begins

Q: What is the repayment window?
A: The final day of each cycle. The borrow rate rises to 50% during this window to incentivize timely repayment before the next cycle begins. This does not force liquidations. Users are recommended to repay before this date to avoid the elevated rate. 

Q: What happens if I don’t repay during the repayment window?
A: If repayment is not made before the cycle closes, the position rolls into the next cycle automatically. The borrow rate refreshes to the new TESR 30-D rate for the upcoming month.

About Treehouse 🌳

Treehouse, a digital assets infrastructure firm and the decentralized arm of the parent company Treehouse Labs, is at the forefront of revolutionizing the decentralized fixed income market. Treehouse Protocol introduces innovative fixed income products and primitives across chains through tAssets, liquid staking tokens that empowers its users to participate in the convergence of on-chain interest rates while retaining the flexibility to engage in DeFi activities. 

Treehouse Protocol is also pioneering the Decentralized Offered Rates (DOR) consensus mechanism for benchmark rate setting, enabling a range of fixed income products and primitives into digital assets. Treehouse is dedicated to creating safer and more predictable return alternatives for both individual investors and institutions.

Website: https://treehouse.finance

X: https://x.com/TreehouseFi

Discord: https://discord.gg/treehousefi

The VIX Fear Index for the US stock market stands at 18.63 today, with fear sentiment intensifying in the crypto market.

According to Cboe data, the U.S. stock market's VIX Fear Index stands at 18.63 as of today, down 0.86 points from the prior reading of 19.49, marking a decline of approximately 4.41%. Separately, per Alternative data, the Crypto Fear & Greed Index is at 12 today (compared to 17 yesterday), indicating intensifying extreme fear sentiment.

3 minutes ago

Bank of Japan Board Member: Should Accelerate Pace of Interest Rate Hikes If Upside Inflation Risks Intensify

Bank of Japan (BOJ) Policy Board member Naoki Tamura stated that if upside risks to price growth intensify further, the BOJ should not hesitate to accelerate the pace of interest rate hikes or raise rates by a larger margin. He projected that the BOJ will implement interest rate hikes every few months until its policy rate reaches the neutral level of around 2%. (Golden Ten)

3 minutes ago

Crypto token M plunged over 80% in a short period, hitting a low near $0.5.

According to HTX market data, the token M saw a sharp short-term price plunge, with its decline once exceeding 80% and hitting a low of around $0.5, and is now trading at $0.54.

3 minutes ago

Blockchain data infrastructure firm Cambrian has closed a $6 million funding round, jointly led by Franklin Templeton and Polychain Capital.

Blockchain data infrastructure project Cambrian has closed a $6 million seed round, co-led by Franklin Templeton and Polychain Capital, with participation from Flow Traders, Selini Capital, and other investors. The project previously raised a $5.9 million pre-seed round led by a16z Crypto Startup Accelerator, bringing its total funding to $11.9 million. Cambrian currently provides institutional investors and AI Agents with real-time and historical data APIs covering on-chain yields, risks, lending markets, and trading activities, and plans to further build a verifiable data oracle network. Official data shows it has indexed over $4.5 billion in lending TVL, tracks more than 320,000 DEX liquidity pools, and currently supports Base and Solana, with plans to expand to additional ecosystems including Ethereum. The funds will be used to expand on-chain data coverage, accelerate oracle network development, and team recruitment.

3 minutes ago

Whale 0xbilly pulled off another "buy high, sell low" move, exiting with a $220,000 loss in a single day.

According to EmberCN’s monitoring, whale address 0xbilly liquidated 2,409 ETH in the early hours of today when ETH fell to around $1,569.5, worth approximately $3.78 million, with a total loss of roughly $220,000. Notably, this batch of ETH was purchased just one day ago for about 4 million USDC, at an average price of approximately $1,660.2. The address also previously bought 7,768.5 ETH at a high of $2,254 in March this year, valued at around $17.51 million, and exited via stop-loss four days later, incurring a loss of roughly $800,000.

3 minutes ago

Two whales opened a short position worth approximately $90 million on the S&P 500.

According to monitoring by Onchain Lens, two whale addresses are building short positions on the S&P 500, with a combined position of approximately $90 million. Details are as follows: Whale address "0x469" has opened 6,500 S&P 500 short positions, using 20x leverage, valued at around $48 million, with a liquidation price of $8,413.66. Whale address "0x4ff" has opened 5,686.66 S&P 500 short positions, using 7x leverage, valued at around $42 million, with a liquidation price of $8,358.13.

3 minutes ago

DeFi Saver announces reward program as part of their Hyperliquid integration

Summary

French banking giant ODDO BHF is launching a euro-backed stablecoin called EUROD, designed to be a compliant digital version of the euro.EUROD will be listed on Madrid-based crypto platform Bit2Me, which is backed by major institutions including telecom giant Telefonica and banking giants Unicaja and BBVA.The stablecoin meets EU regulatory requirements under MiCA and is aimed at both retail and institutional users, the companies said.175-year-old French banking giant ODDO BHF, which manages over €150 billion ($173 billion) in assets, is entering the crypto space with the launch of a euro-backed stablecoin dubbed EUROD.

The token is set to be listed on Madrid-based crypto platform Bit2Me, one of the largest exchanges in the Spanish-speaking world that’s backed by telecom giant Telefonica and other major institutions including banking giants Unicaja and BBVA.

EUROD, according to a press release shared with CoinDesk, is designed to be a compliant, low-volatility digital version of the euro. The firms said it meets requirements under the EU’s new MiCA regulation and is aimed at both retail and institutional users.

Bit2Me, which saw Tether lead a €30 million ($35 million) investment round in it earlier this year, is positioning the listing as a bridge between traditional finance and crypto.

“The listing of ODDO BHF’s euro stablecoin is another important step in Bit2Me’s mission to offer trusted, regulated digital assets,” said Leif Ferreira, Bit2Me’s CEO.

By pairing a euro-pegged digital asset with a regulated banking institution, ODDO BHF is betting on a growing demand for payment solutions that combine the stability of fiat with the convenience of blockchain rails.

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French banking giant ODDO BHF has made a significant entry into the cryptocurrency market by launching its Euro-pegged stablecoin, EUROD. According to CoinDesk, this stablecoin will be listed on the Madrid-based Bit2Me platform. Positioning itself as a low-volatility payment tool, EUROD is targeted for both individual and institutional use. The project aligns with the European Union’s MiCA framework. Supported by institutions like Telefónica and BBVA, Bit2Me reinforces the trust factor combined with a banking-backed issuer. ODDO BHF, with a 175-year history and over €150 billion in asset management, is crafting a new bridge between traditional finance and blockchain technology.

EUROD Coin: A New Digital Euro Under MiCA ComplianceEUROD is defined as a compliant digital Euro version under the MiCA framework. The target audience comprises users who want to conduct transactions within a regulated framework for payment and transfer scenarios. Bit2Me, a scaled player in Spanish-speaking markets, considers this listing as a bridge. Leif Ferreira, CEO of Bit2Me, emphasizes the mission to expand the set of regulated and reliable assets, stating that a bank-supported Euro peg will accelerate the platform’s corporate expansion.

Earlier this year, Bit2Me grabbed attention with a €30 million funding round led by Tether. When ODDO BHF’s banking status merges with Bit2Me’s market reach, the Euro-pegged digital payment layer aims to capture corporate demand in treasury, commercial payments, and cross-border transfers, in addition to individual users. The involvement of European issuers amid a global dominance of dollar-pegged coins increases currency diversity.

Growing Competition for Euro-Pegged Stablecoins in EuropeThe European market has grown familiar with bank-supported Euro-pegged stablecoins, with Société Générale-FORGE’s EURCV launch. As of September, nine banks, including ING, Banca Sella, Danske Bank, DekaBank, and CaixaBank, had announced MiCA-compliant Euro-pegged stablecoin initiatives. EUROD by ODDO BHF positions itself in this league with oversight from banking and the narrative of regulated reserves. Its differentiating factor is an exchange listing that prioritizes accessibility from day one.

Despite the market being dominated by dollar-based stablecoins, the options for Euro-based payments and corporate cash management are anticipated to rise. The natural advantage of Euro-denominated settlements in intra-European exchanges, combined with regulatory clarity, may accelerate adoption. EUROD’s deployment on Bit2Me highlights an attempt to unite regulatory compliance with market liquidity.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

French banking institution ODDO BHF has recently launched a new euro-backed stablecoin, EUROD. The token will be listed on the Madrid crypto platform Bit2Me.

Summary

French banking giant ODDO BHF has launched its euro-backed stablecoin, EUROD, marking its first move into the crypto market. The launch comes amid a broader push by European banks to develop euro-pegged stablecoins to challenge the dominance of U.S. dollar tokens. According to a recent report by CoinDesk, the French banking giant has launched its own stablecoin pegged to the euro. The token will be dubbed EUROC and is set to be listed on the Madrid-based crypto exchange Bit2Me. The token is meant to be a “low-volatility” digital asset version of the euro that is compliant with the EU’s MiCA regulatory framework.

EUROD will be backed on a 1:1 ratio and is aimed at both retail and institutional users.

The move marks a significant step for the traditional financial institution, which manages more than €150 billion or approximately $173 billion in assets across Europe. ODDO BHF aims to provide a secure and regulated digital asset option for investors seeking stability within the volatile crypto market.

“The listing of ODDO BHF’s euro stablecoin is another important step in Bit2Me’s mission to offer trusted, regulated digital assets,” said Bit2Me CEO Leif Ferreira in a press release sent to CoinDesk.

Earlier this year, Bit2Me successfully raised €30 million or $35 million in an investment round led by the stablecoin issuer tycoon Tether. Through the listing of ODDO BHF’s EUROD, it hopes to narrow the gap between tradition finance and the crypto market.

ODDO BHF’s first venture into crypto The launch of the euro-backed stablecoin marks the first dive into the crypto space. The firm joins a number of financial institutions in Europe that have jumped on the stablecoin bandwagon. Earlier this month Societe Generale’s digital asset arm launched its U.S dollar-backed and euro-pegged stablecoins on Morpho and Uniswap.

As previously reported by crypto.news, SG-FORGE aims to position is stablecoins as options instead of replacements for fiat currency. The firm views stablecoins as regulated instruments meant for specific use cases.

On the other hand, nine European banks including UniCredit SpA, ING Groep NV, DekaBank, Banca Sella, KBC Group NV, and Danske Bank AS have teamed up with the intention of launching a joint-stablecoin venture powered by the euro. The token will also be MiCA-compliant.

A few days prior, Citigroup announced that it would be joining the consortium of nine banks to launch a euro-backed stablecoin.

The heightened interest surrounding euro-backed tokens is influenced by the need to challenge the U.S dollar’s domination in the stablecoin market. According to data from DeFi Llama, the number one stablecoin in the world by market cap is Tether’s USDT (USDT), with a market domination of 59.01%.

Meanwhile, euro-backed stablecoins only contribute around $573.9 million out of the total $306 billion stablecoin market cap. The largest euro stablecoin is Circle’s EURC (EURC) with a market cap of $266 million. In second place is EURS (EURS), followed by EUR CoinVertible’s EURCV (EURCV).

ODDO BHF aims to launch a new euro-backed stablecoin, joining the lineup of existing players | Source: CoinGecko

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(Bit2Me)Summary

Bankinter has taken a minority stake in Spanish crypto exchange Bit2Me, joining a $33 million funding round that also included Tether.The investment strengthens Bit2Me's capital structure and supports its regulatory ambitions in Europe and Latin America, as it operates under the EU's new MiCA regulation, the exchange said.The deal marks another example of traditional banks collaborating with crypto firms, with Bit2Me already working with major Spanish financial institutions including BBVA, Unicaja and Cecabank.Spanish banking giant Bankinter has taken a minority stake in crypto exchange Bit2Me, joining a 30 million euro ($33 million) funding round involving Tether in August 2025.

The investment adds another traditional bank to Bit2Me’s growing list of backers, which already includes major local financial institutions including BBVA, Unicaja and Cecabank.

Bit2Me, headquartered in Madrid, is among the first firms registered under the EU’s new Markets in Crypto-Assets (MiCA) regulation, allowing it to operate across the entire European bloc. The company has positioned itself as a business-to-business gateway for banks seeking compliant access to crypto markets.

Bankinter said in a release that the deal is aimed at fostering “technological and knowledge-based synergies,” specifically in areas leveraging distributed ledger technology (DLT).

While exact terms weren’t disclosed, the agreement strengthens Bit2Me’s capital structure and adds weight to its regulatory ambitions in Europe and Latin America.

Over the past 18 months, Bit2Me has quietly embedded itself in traditional finance. It acts as a backend crypto service provider for Turkey’s Garanti BBVA, and jointly launched a custody and trading platform with Cecabank, according to documents shared with CoinDesk.

In a statement, Bit2Me CFO Pablo Casadío framed the Bankinter deal as a sign that banks are choosing collaboration over competition.

“This alliance confirms that the banking sector can leverage our deep industry know-how to enhance its offering. Instead of competing, we are integrating strengths,” Casadío said.

The firm’s ties to traditional financial institutions go deeper, however. In July 2024, Spanish bank Unicaja, through its investment arm Unicaja Ventures, acquired a stake of over 5% in the exchange and secured a seat on its board of directors.

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Spain’s established bank, Bankinter, has ventured into the cryptocurrency industry by acquiring a minority stake in the crypto exchange Bit2Me, marking a significant step in the European financial realm. This investment was made as part of a 30 million euro funding round completed in August 2025, which also included the participation of Tether. Based in Madrid, Bit2Me distinguishes itself with the MiCA registration, allowing it to operate across the European Union, thereby strengthening its objective to bridge traditional banking and cryptocurrency infrastructures. This development exemplifies a shift in the banking sector’s approach toward cryptocurrency—moving from competition to collaboration.

Framework of the Bankinter–Bit2Me PartnershipBankinter’s announcement emphasized the goal of creating synergies focused on distributed ledger technology through this investment. While details on share percentages and financial terms remain undisclosed, the agreement bolstered Bit2Me’s capital structure and offered corporate support for its compliant growth strategy. Bankinter opted to collaborate with a licensed and regulated infrastructure provider rather than entering the crypto market directly.

The investment round has further diversified Bit2Me’s already strong investor base, which includes entities like BBVA, Unicaja, and Cecabank. This scenario illustrates how Spanish banks are approaching the cryptocurrency market with a controlled, partnership-based strategy.

Bit2Me’s CFO, Pablo Casadío, described the Bankinter investment as indicative of banks’ preference for integration over competition. According to Casadío, banks aim to swiftly develop their products and services by leveraging external technical expertise in the cryptocurrency sector.

MiCA, Corporate Infrastructure, and Regional ExpansionBit2Me ranks among the first companies to register under the European Union’s Markets in Crypto-Assets (MiCA) regulation. This status enables the company to operate with a single license across Europe, significantly reducing compliance risks for banks. The company positions itself more as a B2B gateway serving banks and financial institutions rather than individual investors.

Over the past 18 months, Bit2Me’s integration with traditional finance has markedly accelerated. The firm provides back-end crypto services for Garanti BBVA in Turkey and, in collaboration with Cecabank, has established a joint platform covering custody and trading infrastructure. These strategic moves are seen as concrete indicators of Bit2Me’s ambition for compliant growth in markets such as Latin America and Turkey.

In July 2024, Bit2Me secured an investment exceeding 5% through Unicaja Ventures and included a bank representative on its board, further solidifying its corporate legitimacy. From a European banking perspective, this scenario suggests a preference for partnering with licensed technology providers rather than entering the crypto markets as direct competitors.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

The VIX Fear Index for the US stock market stands at 18.63 today, with fear sentiment intensifying in the crypto market.

According to Cboe data, the U.S. stock market's VIX Fear Index stands at 18.63 as of today, down 0.86 points from the prior reading of 19.49, marking a decline of approximately 4.41%. Separately, per Alternative data, the Crypto Fear & Greed Index is at 12 today (compared to 17 yesterday), indicating intensifying extreme fear sentiment.

3 minutes ago

Bank of Japan Board Member: Should Accelerate Pace of Interest Rate Hikes If Upside Inflation Risks Intensify

Bank of Japan (BOJ) Policy Board member Naoki Tamura stated that if upside risks to price growth intensify further, the BOJ should not hesitate to accelerate the pace of interest rate hikes or raise rates by a larger margin. He projected that the BOJ will implement interest rate hikes every few months until its policy rate reaches the neutral level of around 2%. (Golden Ten)

3 minutes ago

Crypto token M plunged over 80% in a short period, hitting a low near $0.5.

According to HTX market data, the token M saw a sharp short-term price plunge, with its decline once exceeding 80% and hitting a low of around $0.5, and is now trading at $0.54.

3 minutes ago

Blockchain data infrastructure firm Cambrian has closed a $6 million funding round, jointly led by Franklin Templeton and Polychain Capital.

Blockchain data infrastructure project Cambrian has closed a $6 million seed round, co-led by Franklin Templeton and Polychain Capital, with participation from Flow Traders, Selini Capital, and other investors. The project previously raised a $5.9 million pre-seed round led by a16z Crypto Startup Accelerator, bringing its total funding to $11.9 million. Cambrian currently provides institutional investors and AI Agents with real-time and historical data APIs covering on-chain yields, risks, lending markets, and trading activities, and plans to further build a verifiable data oracle network. Official data shows it has indexed over $4.5 billion in lending TVL, tracks more than 320,000 DEX liquidity pools, and currently supports Base and Solana, with plans to expand to additional ecosystems including Ethereum. The funds will be used to expand on-chain data coverage, accelerate oracle network development, and team recruitment.

3 minutes ago

Whale 0xbilly pulled off another "buy high, sell low" move, exiting with a $220,000 loss in a single day.

According to EmberCN’s monitoring, whale address 0xbilly liquidated 2,409 ETH in the early hours of today when ETH fell to around $1,569.5, worth approximately $3.78 million, with a total loss of roughly $220,000. Notably, this batch of ETH was purchased just one day ago for about 4 million USDC, at an average price of approximately $1,660.2. The address also previously bought 7,768.5 ETH at a high of $2,254 in March this year, valued at around $17.51 million, and exited via stop-loss four days later, incurring a loss of roughly $800,000.

3 minutes ago

Two whales opened a short position worth approximately $90 million on the S&P 500.

According to monitoring by Onchain Lens, two whale addresses are building short positions on the S&P 500, with a combined position of approximately $90 million. Details are as follows: Whale address "0x469" has opened 6,500 S&P 500 short positions, using 20x leverage, valued at around $48 million, with a liquidation price of $8,413.66. Whale address "0x4ff" has opened 5,686.66 S&P 500 short positions, using 7x leverage, valued at around $42 million, with a liquidation price of $8,358.13.

3 minutes ago

PANews reported on March 18th that, according to official sources, HTX DAO has recently launched a series of empowerment measures surrounding $HTX, covering multiple dimensions such as compliant market expansion, on-chain staking, trading application scenarios, and deflationary mechanisms, to enhance $HTX's positioning and long-term value in the new market cycle. Specifically, these include: On March 4th, $HTX officially launched on the European compliant trading platform Bit2Me, further broadening fiat currency access and user participation channels in Europe. On March 16th, HTX DAO launched the $HTX staking Beta version, allowing users to earn rewards through staking and participate in HTX DAO governance. The official version will subsequently launch an interest rate increase campaign, with a maximum annualized yield of 10%. Furthermore, starting April 1st, $HTX will become the only fee-deductible token on the Huobi HTX exchange, offering users a 25% discount when using $HTX to pay fees. On April 15th, HTX DAO will implement its Q1 2026 quarterly burn plan to continuously optimize the $HTX circulating supply structure. The ongoing implementation of multiple initiatives is gradually improving the collaborative system of $HTX in trading, governance, and supply mechanisms, providing multi-dimensional support for $HTX's value proposition in the new market cycle.

PANews reported on May 9th that, according to CriptoNoticias, Spanish coffee chain Vanadi is caught in a "death spiral" a year after venturing into Bitcoin. The company transitioned to a Bitcoin treasury model in 2025 and currently holds 213 BTC, but suffered a loss of $7.8 million in 2025. To maintain operations, Vanadi has issued a large number of convertible bonds, converting them into shares at a 5% discount to the market price, causing its share price to plummet 74% this year and resulting in the issuance of 98.1 million new shares, severely diluting investors.

The company faces an emergency payment shortfall of €1.4 million and will need €65 million in financing in the coming months. Although it claims to hold 213 BTC, 61% (130.18 BTC) are locked up as collateral on the Spanish exchange Bit2Me, meaning the company has no control over them. Analysts believe that the viability of the institutional treasury model is questionable when there is no cash flow to support the debt.

PANews reported on June 11 that, according to PRNewswire, Spanish bank Cecabank has launched a crypto asset custody service for financial institutions, with Renta 4 Banco as its first client and Bit2Me as its partner. Cecabank provides the custody infrastructure, while Bit2Me provides the execution platform, liquidity, and market access. The service covers crypto asset services such as custody, order taking and transmission, and transfers. Cecabank was registered as a crypto asset service provider by the Bank of Spain in November 2024 and received its MiCA license in July 2025.

TLDR: Cecabank’s MiCA-regulated crypto custody platform is now live for key Spanish financial firms today. Renta 4 Banco is an early firm to use Cecabank’s new regulated crypto platform for client access. Bit2Me supports the platform with trading, liquidity, market access, and execution for client banks. Cecabank is seeking MiCA passporting in Ireland, Portugal, and Luxembourg to expand its reach in the wider EU market. Cecabank has launched a MiCA-regulated crypto custody platform for financial institutions in Spain, moving its digital asset project into live production. The platform brings Renta 4 Banco on as an early client and links traditional banking workflows with crypto trading infrastructure. 

Cecabank will provide custody, banking, and technology services, while Bit2Me will manage trading, liquidity, and market access. The launch follows regulatory approval for custody, transfers, and reception and transmission of orders.

MiCA-regulated crypto custody reaches Spanish institutions The MiCA-regulated crypto custody service is designed for banks, brokers, and wealth managers. Cecabank said the platform extends its traditional custody and post-trading model into digital assets. That gives institutions a route to offer crypto services without having to build every component internally.

Renta 4 Banco is the launch client for the service. The Spanish investment and wealth management bank is using the platform as it develops its own crypto trading offering for customers. Cecabank said the model gives clients an end-to-end framework for trading and custody.

The infrastructure was built through a partnership with Bit2Me, first announced in May 2024. Cecabank contributes securities services experience, compliance processes, and secure custody infrastructure. Bit2Me adds exchange technology, market access, liquidity, and execution services.

The setup covers the main parts of the crypto service chain. It includes real-time market data, advanced execution, secure custody, and operational support. 

Cecabank said the goal is to reduce complexity for financial firms entering the digital asset space.

Arrancamos nuestro servicio de custodia de criptoactivos para entidades financieras, acompañando a @Renta4 en el desarrollo de su oferta de compraventa de #ActivosDigitales.

Un paso más para acercar la banca tradicional y el ecosistema cripto bajo los más altos estándares de… pic.twitter.com/s9NnNIPzAT

— Cecabank (@Cecabank_es) June 10, 2026

Cecabank expands crypto asset services across Europe Cecabank said its authorization allows it to provide custody, transfers, and order reception and transmission services. 

The license places the MiCA-regulated crypto custody platform inside Europe’s new crypto regulatory structure. Moreover, the bank is registered with the Bank of Spain as a crypto-asset service provider.

The group has started the European passporting process under MiCA. 

Cecabank wants to extend its crypto asset services into Ireland, Portugal, and Luxembourg. That move could make the platform available to more financial institutions outside Spain.

At launch, Cecabank plans to support major cryptocurrencies and stablecoins that fit European regulatory standards. The stablecoin component is important for banks watching settlement, liquidity, and payment use cases. 

MiCA has created a clearer path for regulated stablecoin activity in the region.

Aurora Cuadros, corporate director of securities services at Cecabank, said the bank is taking a natural step from traditional custody into digital assets. 

She said the MiCA-regulated crypto custody model helps institutions such as Renta 4 Banco offer crypto trading with stronger operational guarantees.

Bit2Me said the launch supports integrating institutional crypto infrastructure into banking workflows. Gabriel Ayala, director of banking solutions at Bit2Me, said the service demonstrates how regulated crypto access can fit within traditional financial systems.

The rollout adds to Spain’s growing bank-led crypto market. For instance, BBVA has explored Bitcoin and Ethereum trading and custody through infrastructure managed directly by the bank.

DeFi protocol Unizen to provide ‘immediate reimbursement’ after $2.1M hack

1 mins read March 11, 2024

Unizen announces user reimbursement after $2.1M hack

Unizen to reimburse users after a $2.1 million loss due to a security breach, starting with those who lost $750,000 or less. The DeFi platform offered a 20% bounty for the return of stolen funds and is working with law enforcement to identify the hacker. Immediate steps include issuing refunds in USDT or USDC, and implementing enhanced security measures with third-party collaboration. DeFi protocol, Unizen, has committed to reimbursing users following a security breach that led to the loss of approximately $2.1 million in user funds. The breach was detected on March 9 by blockchain analytics firm PeckShield, which identified an “approve issue” that allowed unauthorized withdrawals from the platform. 

Following PeckShield’s alert, security experts at SlowMist confirmed the extent of the losses to be around $2.1 million and observed that the stolen funds had been converted from Tether (USDT) to Dai (DAI).

Unizen communicates with hacker In response to the breach, Unizen immediately communicated directly with the hacker, proposing a 20% bounty for the return of the remaining stolen assets. Concurrently, the protocol has been coordinating with law enforcement and forensic experts to trace the attacker’s identity. Despite ongoing negotiations for the bounty, Unizen moved forward with plans to compensate the hack’s victims, announcing that reimbursements would begin on March 11. 

The protocol aims to cover losses for 99% of affected users, especially those who lost $750,000 or less, using funds loaned by Unizen founder and CEO Sean Noga.

The compensation will be distributed in USDT or USD Coin (USDC), starting immediately, with a case-by-case approach for losses exceeding $750,000. Alongside the reimbursement announcement, Unizen released a video tutorial advising users on how to revoke platform approvals to prevent future losses. Chief Technology Officer Martin Granström has stated that enough evidence has been collected for a post-mortem report and highlighted ongoing collaborations with third-party firms to enhance security measures.

https://twitter.com/MartinGranstrom/status/1766898480386101440

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Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Damilola Lawrence

Damilola Lawrence has covered news on crypto markets and tech for over 5 years. He has previously shared crypto insights and analysis for TheShibMagazine, CryptoMode, Qweens Magazine, and The Recording Academy before pivoting into Web3. At Cryptopolitan, he is a crypto price prediction specialist. After finishing a bachelor’s degree, he has segued into a master’s degree in IT Cybersecurity at Maria Curie-Skłodowska University.

$2 Million Hacked From This DeFi Protocol

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Telos, a Zero-Knowledge technology-driven L1 decentralized network that provides privacy and scalability, has partnered with Unizen. The collaboration between Telos and Unizen, a decentralized exchange aggregator that offers access to more than 20,000 assets, focuses on enhancing interoperability and promoting growth. Unizen now provides respective access to ten networks because Telos has joined it with the latest addition.

Telos Integrates with DEX Aggregator Unizen to Foster Ecosystem Growth and Interoperability On the official account of Telos Foundation on X, it expressed its enthusiasm regarding the collaboration. As included in the latest partnership, Telos users can stake ZCX tokens to get rewards in cryptocurrency. In addition to this, the users can also share profits that they obtain from diverse trades. In one of its recent posts, the firm clarified that ZCX coin has a direct link to its trade volume. Because of this, the token provides scarcity through the dual burn.

As per Telos, the inclusion of the respective features in the partnership exclusively deals with facilitating the users. It added that it is joining Unizen as the tenth of the networks to which it provides services. As a result of this development, the interoperability will improve along with the expansion of asset access.

While providing more details about the partnership, Telos disclosed that the integration between the two entities elevates the status of Unizen. In this respect, the DEX leadership of the platform will likely experience a significant boost after this collaboration. Apart from that, this would spike the trade efficiency to ultimately attract more users. Moreover, the purpose of this endeavor is to offer a matchless user experience.

As included in the partnership, Telos focuses on providing consumers with cost-effective swaps. It moved on to say that the collaboration is healthy and beneficial for both companies. According to Telos, both ecosystems would get a huge boost from the respective development. Unizen’s cutting-edge trade-splitting algorithm permits it to outcompete the rest of the top aggregators.

The Endeavor Targets Benefiting Both Ecosystems via Systematic Improvements It optimizes both interoperability and liquidity for cost-efficient and seamless cross-chain and single swaps. The growth of Unizen is credited to several factors, taking into account a remarkable and user-friendly interface. This makes it comparatively efficient and accessible. Telos claimed that the collaboration targets mutual ecosystem development to benefit both communities via systematic improvements, marketing efforts, and collaborations.

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Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.

The attacker behind the Unizen hack has moved over $2 million of stolen assets to Tornado cash more than four months after the attack.

According to blockchain security firm PeckShield, the attacker laundered a total of 865.4 ETH (ETH), approximately $2.16 million at the time.

The routing of funds began with the attacker transferring 2,179,859 DAI (DAI)from the wallet used in the exploit to an unknown wallet identified by “0X866…84d7” in two separate transactions.

Attacker moves funds from wallet used in the exploit | Source: Etherscan Subsequently, the hacker started swapping the DAI for ETH on Uniswap before transferring them to Tornado Cash via 26 different transactions.

Swapped ETH being transferred to Tornado cash | Source: Etherscan At the time of writing, both the exploiter’s wallets had zero balances.

The funds were moved 151 days after the March 9 attack, when PeckSheild identified an “approve issue” with the platform. $2.1 million worth of USDT had been drained and later converted into DAI.

Hi @unizen_io you may want to a look. It looks like an approve issue with >2m loss already.

If you have approved the following trade aggregator, please revoke ASAP:

eth: 0xd3f64baa732061f8b3626ee44bab354f854877ac pic.twitter.com/Rq1AMxrrgs

— PeckShield Inc. (@peckshield) March 8, 2024 The Unizen team attempted to contact the hacker on-chain and offer a 20% bounty in return for the stolen assets but to no avail.

A reimbursement plan was announced on March 11, spearheaded by Unizen CEO Sean Noga, who used his personal funds to compensate users. The funds would be compensated in USDT and USDC for victims who lost less than $750,000, while the cases above the threshold would addressed individually.

Attackers employ various means to move stolen assets, with cryptocurrency mixers being the most common tool. 

Last month, on-chain sleuth ZachXBT reported that the hackers behind the $308 million DMM Bitcoin (BTC) hack were laundering stolen assets via Huione Guarantee, an online marketplace that facilitates various scams and related services.

Meanwhile, attackers behind the flash loan attack on Binance Smart Chain-based defi protocol Pancake Bunny were seen buying the Ethereum dip on Aug. 5, when the second largest cryptocurrency recorded a double-digit drop.

Following the March 9 attack orchestrated by a malicious actor on Unizen, a decentralized finance (DeFi) protocol, which resulted in the loss of around $2.1 million, it has now been revealed that the hacker behind the attack has moved the stolen assets to Tornado Cash.

In a post by blockchain security firm PeckShield, it was revealed that the hacker moved 2,179,859 DAI from the wallet used in the attack to an unknown wallet on August 7. They then changed the DAI into 865.4 Ether (ETH) and sent it to Tornado Cash in 26 separate transactions. This will be the first time the stolen Unizen funds have been moved since the attack 151 days ago.

After the March exploitation, the Unizens said they would return the stolen funds to users. The plan was led by the CEO Sean Noga, who released personal money to the company to pay back users who lost less than $750,000. For people who lost more, the company said they would look at each case separately.

More so, days after the attack, Unizen chief technology officer, Martin Granström, stated that the company is working with security experts and law enforcement agencies to track down the hacker’s identity. He noted that they gathered various evidence and can now proceed with the post-mortem.

In the same post, he assured users that the firm would invest more in improving its security with every new upgrade as they owed it to their community. However, despite the firm’s effort to catch the bad actor, it does not seem like they have made any headway, as the hacker now has zero balance in their wallet.

Crypto Hacking: A Growing Concern in the Industry The attacker used a decentralized mixer that makes it hard to trace the origin of cryptocurrency transactions. Bad actors often deploy this tactic to hide stolen money.

Similar scenarios have occurred in other major hacks, such as the $308 million hack of the DMM Bitcoin system. In that case, the hackers used Huione Guarantee, an online marketplace that lets people do scams and other shady things, to launder the stolen assets.

Recently, another DeFi protocol Nexera was hacked, and a sum of $1.5M was exploited, which resulted in the company warning its users to stop trading the NXRA token. It was also revealed that the bad actor has already started selling the token for ETH and has already bridged some to the BNB chain.

The bad actor’s address behind the Nexera attack was said to be connected to recent private key compromise cases, such as Concentric Finance, OKX DEX, and Serenity Shield.

The continuous cyber attacks in the crypto space show the need for further industry security improvement. Many investors have lost a lot of funds because bad actors are becoming more rampant. The attack on WazirX last month, which resulted in the loss of over $230 million, further testifies why a quick solution needs to be found to mitigate the act.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor's and master's degrees in linguistics. When not writing, he trades forex and plays video games. 

Temitope Olatunji on X