QANplatform announced the launch of its quantum-resistant and Ethereum-compatible blockchain testnet. This launch gives developers room to code smart contracts in several programming languages.
Exploring New Features on Quantum-Resistant Blockchain The QAN Testnet is the latest version of QANplatform’s blockchain that allows users to test new features. This means that the team gets feedback from developers and users to improve these features. Before launching the testnet, the QANplatform had a few things going on. They implemented a quantum-resistant technology for a European Union member state.
The QAN testnet is a significant milestone in the QAN platform and Web3 technology. It displays QAN’s interest in helping developers in the blockchain industry. This means that developers can build smart contracts with any programming language. That’s pretty impressive, and that’s what QAN Testnet is about.
We are proud to announce that QANplatform has rolled out the world’s first quantum-resistant and EVM-compatible blockchain testnet, where developers can code smart contracts in any programming language.https://t.co/2Q9hQDrLxv pic.twitter.com/91x42i7ZQl
— QANplatform (@QANplatform) May 7, 2024
QAN Testnet stands out from other web3 platforms like EOSIO. It has unique features. These features include:
Quantum-Resistant Security The QAN Testnet is secure against potential attacks because of its quantum-resistant security.
Compatibility with Ethereum Although EOSIO and its virtual machine, the QAN testnet is compatible with EVM blockchains. This would lead to smooth transactions with the Ethereum-compatible blockchains.
Approves any Programming Language Many blockchains support certain programming languages for coding smart contracts. But the QAN Testnet is different. QAN Testnet accepts any programming language. So, as a developer, you can use the programming language you know to code smart contracts.
No-Code Smart Contract Studio QAN has a no-code smart contract studio. This feature makes it an exceptional platform. With this feature, you can code smart contacts with zero coding experience. You can use the no-code smart contract studio feature to achieve this in a few minutes.
Following the completion of the primary tests on the QAN TestNet, the #QANplatform team is currently finalizing the most comprehensive developer documentation we have ever released. After years of dedicated effort, on May 7th, we will proudly introduce the world's first…
— QANplatform (@QANplatform) April 24, 2024
More About QANPlatform The QANPlatform is compatible with PoS and PoW consensus algorithms. But, here’s something new: CRYSTALS-Dilithium. QANplatform uses CRYSTALS-Dilithium for its activities. Also, CRYSTALS-Dilithium helps secure transactions even against quantum computers. This means that It ensures that your data is secure.
6/#QANplatform comment: The QAN private blockchain will be the first Ethereum EVM-compatible, quantum-resistant #blockchain where developers can code smart contracts in ANY programming language.
It will use NIST primary recommended #PostQuantum algorithm, CRYSTALS-Dilithium.
— QANplatform (@QANplatform) July 17, 2023
QANplatform’s co-founder and CTO, Johann Polecsak, expressed thoughts about the testnet. He said that the team aims to handle current and future problems in the blockchain industry.
Disclaimer The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
QANplatform announced the launch of its quantum-resistant and Ethereum-compatible blockchain testnet. This launch gives developers room to code smart contracts in several programming languages.
Exploring New Features on Quantum-Resistant Blockchain The QAN Testnet is the latest version of QANplatform’s blockchain that allows users to test new features. This means that the team gets feedback from developers and users to improve these features. Before launching the testnet, the QANplatform had a few things going on. They implemented a quantum-resistant technology for a European Union member state.
The QAN testnet is a significant milestone in the QAN platform and Web3 technology. It displays QAN’s interest in helping developers in the blockchain industry. This means that developers can build smart contracts with any programming language. That’s pretty impressive, and that’s what QAN Testnet is about.
We are proud to announce that QANplatform has rolled out the world’s first quantum-resistant and EVM-compatible blockchain testnet, where developers can code smart contracts in any programming language.https://t.co/2Q9hQDrLxv pic.twitter.com/91x42i7ZQl
— QANplatform (@QANplatform) May 7, 2024
QAN Testnet stands out from other web3 platforms like EOSIO. It has unique features. These features include:
Quantum-Resistant Security The QAN Testnet is secure against potential attacks because of its quantum-resistant security.
Compatibility with Ethereum Although EOSIO and its virtual machine, the QAN testnet is compatible with EVM blockchains. This would lead to smooth transactions with the Ethereum-compatible blockchains.
Approves any Programming Language Many blockchains support certain programming languages for coding smart contracts. But the QAN Testnet is different. QAN Testnet accepts any programming language. So, as a developer, you can use the programming language you know to code smart contracts.
No-Code Smart Contract Studio QAN has a no-code smart contract studio. This feature makes it an exceptional platform. With this feature, you can code smart contacts with zero coding experience. You can use the no-code smart contract studio feature to achieve this in a few minutes.
Following the completion of the primary tests on the QAN TestNet, the #QANplatform team is currently finalizing the most comprehensive developer documentation we have ever released. After years of dedicated effort, on May 7th, we will proudly introduce the world's first…
— QANplatform (@QANplatform) April 24, 2024
More About QANPlatform The QANPlatform is compatible with PoS and PoW consensus algorithms. But, here’s something new: CRYSTALS-Dilithium. QANplatform uses CRYSTALS-Dilithium for its activities. Also, CRYSTALS-Dilithium helps secure transactions even against quantum computers. This means that It ensures that your data is secure.
6/#QANplatform comment: The QAN private blockchain will be the first Ethereum EVM-compatible, quantum-resistant #blockchain where developers can code smart contracts in ANY programming language.
It will use NIST primary recommended #PostQuantum algorithm, CRYSTALS-Dilithium.
— QANplatform (@QANplatform) July 17, 2023
QANplatform’s co-founder and CTO, Johann Polecsak, expressed thoughts about the testnet. He said that the team aims to handle current and future problems in the blockchain industry.
Disclaimer The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
Asunción, Paraguay, September 11th, 2025, Chainwire
Ueno Bank, Paraguay’s largest bank with over 2.2 million customers, announced its transition to quantum-resistant cybersecurity to safeguard digital operations and digitally signed documents. Utilizing quantum-resistant digital signatures and quantum-resistant blockchain technology from SignQuantum and QANplatform, the implementation is being supported by ITTI, Paraguay’s leading technology company.
As quantum computing advances threaten traditional cryptographic systems, Ueno Bank is taking proactive measures to future-proof its operations. Ueno Bank has implemented its first quantum-resistant solution, SignQuantum, a quantum-resistant software add-on for digitally signed documents. It ensures the integrity and authenticity of e-signed documents of the company and their 2.2 million users. Using QANplatform’s quantum-resistant blockchain, document hashes will be securely uploaded with post-quantum signatures, protecting sensitive data from potential falsification.
“Ueno Bank is a technology-driven financial innovator, committed to leading the way in innovation and security,” said Juan Manuel Gustale, President at Ueno Bank. “Adopting SignQuantum and QANplatform’s technology both mitigates future risks and builds confidence with our customers and partners to bring a new standard of cybersecurity in the financial sector.”
Cybersecurity risks posed by quantum computers exist regardless of the adoption or performance levels of quantum computing. Malicious actors will be able to backdate and modify the content and signature of digitally signed documents using quantum computers, enabling a time travel attack. The current initiative by Ueno Bank pioneers the finance sector’s adoption of quantum-resistant technologies to protect internal operations and customer data against emerging cybersecurity threats.
“We are bringing together numerous stakeholders, ITTI, QANplatform, and Ueno Bank, to pioneer quantum-resistant cybersecurity in the financial sector,” stated Nazmath Nazeer, CEO of SignQuantum. “As the first bank worldwide to implement this technology, Ueno Bank is demonstrating exceptional foresight and leadership to better protect its operation and serve its customers.”
“Ueno Bank’s move towards quantum-resistant security sends a strong signal to the financial and technology sectors in Latin America,” said Luis Angulo, Vice President of ITTI. “As the exclusive distributor of SignQuantum in the region, we are expanding access to this critical technology, starting with our successful implementation with Ueno Bank.”.
“We’re thrilled to see QANplatform’s quantum-resistant blockchain deployed in robust, real-life environments like Ueno Bank, Paraguay’s largest bank by customer base. This is an outstanding opportunity to prove that QANplatform is capable of not only safeguarding, but also handling large volumes of digital transactions.” – commented Johann Polecsak, Co-Founder and CTO of QANplatform.
About Ueno Bank
Ueno Bank is Paraguay’s largest and fastest-growing financial institution, serving over 2.2 million users through a network of 70 branches and 1,100 ATMs—the most extensive in the country. Established in 2021, Ueno Bank has revolutionized banking in Paraguay by introducing innovative digital services such as fully digital onboarding, dual card vending machines, and a cashless payments network (Wepa). Committed to financial inclusion and innovation, Ueno Bank has positioned itself as a leader in the region. Visit https://www.ueno.com.py/en for more information.
About ITTI
ITTI, Paraguay’s leading technology company, has well-established hubs in Argentina, Brazil, and Colombia, and plans to open offices in three more countries by the end of 2025. ITTI is specializing in innovative IT solutions across multiple sectors including finance, retail, energy, telecommunications, and the public sector. Employing a diverse team of 1,200 professionals. ITTI received the gold award for Digital Banking for Financial Innovators for its ITTI Secure tool — a solution streamlining customer document management with qualified digital signatures — at Fintech Americas 2025 in Miami. In August 2025, ITTI became the exclusive distributor of SignQuantum in Latin America. Visit https://www.itti.digital for more information.
About SignQuantum
SignQuantum is a product of Quantum Software Solutions – a Qatari technology innovation and research lab – member of MBK Holding. SignQuantum prevents quantum computers from modifying digitally signed documents with its post-quantum security add-on. SignQuantum provides cutting-edge, fast-lane solution to kickstart your organization’s quantum-safe transition by integrating with existing e-signature software without requiring modifications to current processes or workflows. SignQuantum leverages QANplatform, the quantum-resistant blockchain for immutable time-stamping. Visit https://www.signquantum.com for more information.
About QANplatform
QANplatform is a blockchain platform that provides unparalleled time to market for Web3 development. It serves startups, SMEs, enterprises, and large government infrastructure projects with quantum-resistant security. QAN’s flagship product is a revolutionary quantum-resistant hybrid blockchain platform with smart contract functionality. It is the first to introduce technology that allows developers to build use cases in any programming language on the blockchain. QANplatform is a member of the Linux Foundation and one of the first 20 members of the Linux Foundation’s Post-Quantum Cryptography Alliance (PQCA). The first EU country implemented QAN’s quantum-resistant technology in 2024. Visit https://www.qanplatform.com for more information.
Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...
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Last updated:
June 13, 2024
UwU Lend, a decentralized finance (DeFi) lending protocol, has suffered another significant security breach today, resulting in an approximately $3.7 million loss.This attack, executed similarly to the previous hack, targeted multiple liquidity pools and converted the stolen assets into Ethereum.This incident marks the latest high-profile breach affecting UwU Lend. At the time of writing, the Hacker still holds all the funds in the wallet.
UwU Lend Lost $3.7 Again 🚨ALERT🚨@UwU_Lend has suffered another security breach by the same attacker!
Total loss: $3.7M
Affected pools: uDAI, uWETH, uLUSD, uFRAX, uCRVUSD, uUSDT
All stolen assets have been converted to $ETH and are located at the attacker's address: https://t.co/9TvwLh18P1
To learn… https://t.co/AjcMS1Cdyl
— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) June 13, 2024
Today, UwU Lend suffered another significant security breach, losing approximately $3.7 million. The decentralized finance (DeFi) protocol, known for its lending services, was targeted by the same attacker responsible for a previous hack.
This most recent exploit affected several pools, including uDAI, uWETH, uLUSD, uFRAX, uCRVUSD, and uUSDT, with all stolen assets converted to Ethereum (ETH) and currently residing at the attacker’s address “0x841ddf093f5188989fa1524e7b893de64b421f47.”
The attack occurred on June 13, 2024, at 07:46:23 AM +UTC. According to Cyvers Alerts, the attacker used a sophisticated method to bypass security measures, similar to the previous breach. The initial breach involved the attacker gaining access to UwU Lend’s smart contracts and manipulating them to drain funds from various liquidity pools.
The stolen assets, including multiple stablecoins and other tokens, were converted into Ethereum to obfuscate their trail. Currently, the assets are held in the attacker’s wallet, and efforts to trace and recover the funds are ongoing.
Previous Attacks on UwU LendOn June 10, UwU Lend was previously hacked for nearly $20 million. This exploit manipulated the protocol’s price oracle, particularly the sUSDe asset. The attacker utilized the Tornado Cash crypto-mixing protocol to fund the exploit, executing three transactions within six minutes to drain significant assets.The immediate response included pausing the protocol and adjusting borrowing and deposit rates to zero to prevent further losses. The UwU Lend team has been actively investigating the incident to understand the attack vector and bolster security measures.Despite efforts to mitigate the impact, the attacker exploited vulnerabilities effectively, converting stolen assets to Ethereum and complicating recovery efforts.In response to the previous attack, Michael Patryn, known as 0xSifu and the founder of UwU Lend, proposed a deal to the hacker on June 11. He offered to drop potential charges in exchange for the return of about $16 million in stolen funds.As of the time of writing, no update has been received regarding the last hack, and the hacker of this new hack still holds the fund in a wallet.
TLDR UwU Lend, a DeFi lending protocol, suffered another hack, losing approximately $3.5 million to $3.7 million, just days after a previous $20 million exploit. The ongoing exploit targeted multiple asset pools, including uDAI, uWETH, uLUSD, uFRAX, uCRVUSD, and uUSDT, with the stolen funds being converted to Ethereum. The attack occurred during the reimbursement process for the previous hack victims, with UwU Lend having already repaid over $9.7 million in bad debt. The initial exploit was caused by price manipulation, while the latest exploit is a consequence of the attacker holding sUSDE tokens gained from the first attack. UwU Lend’s total losses from both hacks amount to around $23 million, causing a significant decline in the value of its governance token, UWU. UwU Lend, a decentralized finance (DeFi) lending and liquidity protocol, has fallen victim to yet another significant security breach, just days after suffering a $20 million exploit.
The latest attack, which occurred on June 13, 2024, has resulted in an additional loss of approximately $3.5 million to $3.7 million, bringing the total losses to around $23 million within a single week.
The ongoing exploit targeted multiple asset pools within the UwU Lend protocol, including uDAI, uWETH, uLUSD, uFRAX, uCRVUSD, and uUSDT.
The stolen funds, amounting to roughly $3.5 million, have been converted to Ethereum (ETH) and are currently held in the attacker’s wallet address, “0x841dDf093f5188989fA1524e7B893de64B421f47.”
????ALERT????@UwU_Lend has suffered another security breach by the same attacker!
Total loss: $3.7M
Affected pools: uDAI, uWETH, uLUSD, uFRAX, uCRVUSD, uUSDT
All stolen assets have been converted to $ETH and are located at the attacker's address: https://t.co/9TvwLh18P1
To learn… https://t.co/AjcMS1Cdyl
— ???? Cyvers Alerts ???? (@CyversAlerts) June 13, 2024
The attack took place during the reimbursement process for victims of the previous $20 million exploit. UwU Lend had already repaid over $9.7 million in bad debt, including 481.36 wETH worth more than $1.7 million for the Wrapped Ether (wETH) market alone.
The initial exploit, which occurred on June 10, was caused by price manipulation. The attacker used a flash loan to swap USDe for other tokens, leading to a lower price of Ethena USDe (USDE) and Ethena Staked USDe (SUSDE).
By depositing the tokens to UwU Lend and lending more SUSDE than expected, the attacker drove the USDE price higher, ultimately stealing nearly $20 million in tokens.
According to CertiK, a crypto security firm, the latest exploit is not due to the same vulnerability but rather a consequence of the first attack. The attacker gained a significant number of sUSDE tokens from the initial exploit and, despite the protocol being paused, UwU Lend still considered sUSDE as legitimate collateral.
This oversight allowed the attackers to exploit the remaining sUSDE and drain the remaining pools.
The series of hacks has had a significant impact on UwU Lend’s governance token, UWU, which has shed 14.5% of its value over the past seven days and 81% in the past year, now holding a market cap of just $26 million.
Oliver Dale
Editor-in-Chief of Blockonomi and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact [email protected]
The UwU Lend hacker returns to swipe another $3.7 million.The lending protocol was hacked using a flash loan for $23 million on Monday.UwU Lend users rejoiced on Wednesday after the lending protocol said it was able to fully reimburse victims of its recent $23 million exploit.
But their celebrations were cut short when at 7:46 am London time, the same hacker returned to take another $3.7 million.
That’s despite UwU Lend offering the hacker a 20% bounty — worth $4 million — to return users’ funds from a Monday hack.
According to Yaron Velner, CEO of risk management project B.Protocol, the hacker was able to drain more money from the protocol using its intended functions due to an oversight from its developers.
“The operation today did not entail any manipulation. Just a malicious intent, and erroneous configuration on UwU side,” he told DL News.
It comes after UwU Lend said in a June 12 X post that it had identified and fixed the vulnerability in its sUSDe market that the hacker previously exploited.
“All other markets have been re-reviewed by industry professionals and auditors with no issues or concerns found,” the protocol said.
UwU Lend did not return a request for comment.
UwU Lend began repaying users on Wednesday after the $23 million exploit forced it temporarily offline.
As of 5 am on Thursday, the protocol said it had repaid about $9.7 million stolen in the first hack.
“The protocol will repay all bad debt, as quickly as reasonably possible,” UwU Lend said. “We are happy to announce that no user funds have been lost due to this process.”
UwU Lend’s controversial founder Michael Patryn, better known by his pseudonym 0xSifu, had previously offered to drop any charges if the hacker returned 80% of the stolen crypto, worth about $18 million.
Oracle attackOn Monday, a hacker used a $4 billion flash loan to manipulate the price of certain tokens on UwU Lend, which allowed them to drain the protocol.
A flash loan is a type of DeFi transaction where a user borrows funds from a lending protocol and repays them in the same transaction.
While flash loans are often used by market makers to quickly arbitrage price differences in DeFi markets, they also make possible exploits that require large amounts of capital to perform.
Zircuit co-founder Martin Derka — who co-developed a tool to detect flash loan-based exploits while at crypto security firm Quantstamp — said such exploits were notorious in DeFi.
“These kinds of vulnerabilities are usually very difficult to discover during smart contract audits, because they require in-depth knowledge of multiple protocols — those that one is auditing, and those that are being used as oracles,” he told DL News.
“There are also not enough automated tools that are capable of discovering such vulnerabilities.”
Launched in 2022, UwU Lend is a fork of Aave, the largest DeFi lending protocol with $12.4 billion of deposits.
A fork is where a developer team uses the open-source code from an existing DeFi protocol to launch a similar protocol — often on a different blockchain or with minor changes.
But the changes to Aave’s code allowed the hacker to drain UwU Lend. The protocol used easily manipulated oracles — software that provides it with the prices of various tokens.
UwU Lend’s UWU token is down 15% over the past week, and trades at around $2.70.
Update, June 13: This article was updated to include comments from B.Protocol CEO Yaron Velner that clarify the $3.7 million theft was not caused by a separate exploit. An earlier version misstated the name of the blockchain Martin Derka co-founded; it is Zircuit, not Circuit.
Aleks Gilbert is a DeFi Correspondent at DL News. Got a tip? Email him at [email protected].
UwU Lend, a blockchain lending platform, suffered a second exploit just as it began reimbursing victims from a recent $20 million hack. The initial attack on June 10 involved hackers manipulating the prices of USDe tokens to steal other cryptocurrencies from the platform.
On June 13, the protocol announced on X that it had started the payouts for all bad debts in the $wETH market, which totaled around 481.36 $wETH ($1,734,042). It also said it has refunded victims 80% of their assets on the network before the attack.
During this process, hackers struck the platform again, draining more funds from the protocol.
Cyvers, an on-chain data analytics firm, detected irregularities on the protocol and immediately alerted UwU Lend. The company confirmed that the attackers behind this new breach were the same individuals responsible for the earlier $20 million theft.
🚨ALERT🚨Hey @UwU_Lend, you are being targeted again by same hacker!
Look at this trx: https://t.co/RstdittKpK
More info will follow!
Want to keep your company off our alerts radar? Learn how to secure your assets: Book a Demo 🚀 https://t.co/uUbFkFTp4h#CyversAlert pic.twitter.com/mMMTByHNkK
— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) June 13, 2024
Details of the Second Exploit The latest exploit has already drained $3.5 million from various asset pools, including uDAI, uWETH, uLUSD, uFRAX, uCRVUSD, and uUSDT. At the time of writing, the criminals have successfully swapped the stolen assets for Ethereum (ETH).
The timing of this attack could not be worse for UwU Lend. Just as the team was making progress in repaying their debt, they now face additional losses and heightened security concerns. However, the protocol was able to repay a total of $9,715,288 before the second attack.
On June 12, UwU Lend announced that it had identified the cause of the first exploit, which led to the suspension of all activities on the network. According to the platform, the cause of the first attack was “unique to the USDe market oracle”.
The platform claimed it had fixed the bug and would gradually restart the network, adding that other market oracles on the platform were “re-reviewed by industry professionals and auditors with no issues or concerns found”.
Ongoing Challenges Despite these claims, the hackers still found a way to exploit the platform again. UwU Lend has yet to publicly acknowledge the second attack and the cause is still unknown.
Meanwhile, the repeated breaches on UwU Lend underscore the vulnerabilities within decentralized finance (DeFi) platforms. Many platforms in the DeFi ecosystem have suffered massive exploits this year.
In March, cybercriminals stole $8.75 million from Woofi when attackers exploited vulnerabilities in its Swap Synthetic Proactive Market Making (sPMM). Another platform, Hedgey Finance, a token infrastructure protocol, was hit with two parallel exploits resulting in the loss of $44.7 million worth of cryptocurrencies. According to CertiK, the first three months of 2024 witnessed a series of hacks that wiped out more than $502 million worth of digital assets from the industry.
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.
Cybersecurity News, News
Chimamanda is a crypto enthusiast and experienced writer focusing on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in the emerging economy. She combines her passion for blockchain technology with her love for travel and food, bringing a fresh and engaging perspective to her work.
Decentralized finance protocol UwU Lend has suffered another exploit from the same attacker, costing it $3.7 million worth of stolen funds.
UwU Lend, an Ethereum-based lending and liquidity protocol, has apparently suffered another hack from the same attacker, who exploited the protocol two days ago for nearly $20 million.
According to data from Cyvers Alerts, the hacker drained $3.7 million in liquidity from pools including uDAI, uWETH, uLUSD, uFRAX, uCRVUSD, and uUSDT. All stolen assets have been converted to ETH and are currently held at the attacker’s address, the firm added.
As noted by an X user under the alias @CryptoEvgen, the hacker used funds “stolen during the first hack for this new attack.” The cause of the latest incident remains unclear, and UwU Lend has yet to make a public statement on the matter.
The latest incident comes just two days after UwU Lend lost $20 million worth of crypto, what the protocol described as a “sophisticated attack.” As crypto.news reported, the attacker seemingly utilized Curve LlamaLend as the “exit liquidity” for the attack.
UwU Lend was founded by Michael Patryn, also known as Omar Dhanani or “0xSifu,” who is a co-founder of the ill-fated QuadrigaCX exchange. Based on the open-source AAVE v2 code, UwU Lend offers lending, borrowing, and staking services, and shares platform revenues with users through its native token, UwU.
All amounts presented in this release are in U.S. Dollar (“USD”) unless otherwise stated.
CALGARY, Alberta, June 24, 2026 (GLOBE NEWSWIRE) -- Enerflex Ltd. (TSX: EFX) (NYSE: EFXT) (“Enerflex” or the “Company”) is pleased to announce that the Company has entered into an amended and restated credit agreement dated June 24, 2026 with respect to its syndicated secured revolving credit facility (the “RCF”). The maturity date of the RCF has been extended by three years to June 30, 2029 and availability is unchanged at $800 million. The Company's limit under the RCF may be increased by up to $200 million at the request of the Company, subject to lenders’ consent, compared to $50 million previously. As at March 31, 2026, the Company had drawn $162 million on its RCF. Led by the Royal Bank of Canada as agent, Enerflex received renewed lending commitments from all current syndicate members.
The Company also continues to maintain a $70 million unsecured credit facility (the “LC Facility”) with one of the lenders in its RCF syndicate. The LC Facility is supported by performance security guarantees provided by Export Development Canada.
Preet Dhindsa, Enerflex’s Senior Vice President and Chief Financial Officer, commented, “We appreciate the continued support of our lending syndicate. The extension of our revolving credit facility solidifies Enerflex’s financial flexibility as we execute our strategy. With a strong balance sheet and ample available liquidity, we remain focused on disciplined capital allocation and delivering long-term value for shareholders.”
Q2 Earnings Release
Enerflex plans to release its financial results and operating highlights for the three and six months ended June 30, 2026, on Thursday, August 6, 2026 prior to market open. Results will be communicated by news release and will be available on the Company's website at www.enerflex.com and under the electronic profile of the Company on SEDAR+ and EDGAR at www.sedarplus.ca and www.sec.gov/edgar, respectively.
Investors, analysts, members of the media, and other interested parties, are invited to participate in a conference call and audio webcast on Thursday, August 6, 2026 at 8:00 a.m. (MT), where members of senior management will discuss the Company's results. A question-and-answer period will follow.
To participate, register at https://register-conf.media-server.com/register/BIebea8b6833b642bbbff6b1c892d4954a. Once registered, participants will receive the dial-in numbers and a unique PIN to enter the call. The audio webcast of the conference call will be available on the Enerflex website at www.enerflex.com under the Investors section or can be accessed directly at https://edge.media-server.com/mmc/p/jgxueet4.
ADVISORY REGARDING FORWARD-LOOKING INFORMATION
This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws and “forward-looking statements” (and together with “forward-looking information”, “FLI”) within the meaning of the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are FLI. The use of any of the words “plan”, “will”, and similar expressions, are intended to identify FLI. In particular, this news release includes (without limitation) FLI pertaining to the Company’s expectation to release its financial results and operating highlights for the three and six months ended June 30, 2026, prior to the markets opening on Thursday, August 6, 2026 along with the news release, conference call and audio webcast associated therewith.
The FLI included in this news release is made as of the date of this news release and is based on the information available to the Company at such time and, other than as required by law, Enerflex disclaims any intention or obligation to update or revise any FLI, whether as a result of new information, future events, or otherwise. This news release and its contents should not be construed, under any circumstances, as investment, tax, or legal advice.
ABOUT ENERFLEX
Enerflex is a leading provider of modular natural gas, power, and treated water technology solutions, delivering value through disciplined execution and a deliberate approach to where we compete. Our customer focused delivery model supports operational excellence, innovation, and scalability across our global footprint with a focus on creating long-term shareholder value.
With approximately 4,400 engineers, manufacturers, technicians, professionals, and innovators, Enerflex is bound together by a shared vision: Transforming Energy for a Sustainable Future. The Company remains committed to the future of natural gas and the critical role it plays, while focused on sustainability offerings to support the world’s energy needs.
Enerflex’s common shares trade on the Toronto Stock Exchange under the symbol “EFX” and on the New York Stock Exchange under the symbol “EFXT”. For more information about Enerflex, visit www.enerflex.com.
For investor and media enquiries, contact:
Paul Mahoney
President and Chief Executive Officer
E-mail: [email protected]
Preet S. Dhindsa
Senior Vice President and Chief Financial Officer
E-mail: [email protected]
Jeff Fetterly
Vice President, Corporate Development and Capital Markets
E-mail: [email protected]
Ethereum (ETH)-based decentralized finance (DeFi) protocol UwU Lend just suffered a security breach that siphoned $23 million worth of crypto from its platform.
In a post on social media platform X, the team behind UwU Lend says the protocol will be paused until the investigation of the exploit has concluded.
[adinserter block="1"]
“Yesterday UwU Lend was the target of an exploit involving a sophisticated attack. The team reacted swiftly and the protocol was paused within minutes. Rates for borrows and deposits have been set to 0% so users’ positions will not be affected by this pause.”
UwU Lend already made an offer to the hacker and is now awaiting a response. In an on-chain message, the lending and liquidity protocol says the exploiter will get a white hat bounty in exchange for returning the stolen assets.
“UwU Lend would like to discuss a bounty with any parties involved in the recent UwU Lend exploit. We are offering a 20% white hat bounty of any funds taken, which you may keep if you return the remaining 80% to uwulend.eth. You will face no risk of us pursuing this further and no risk of law enforcement issues.”
The exploiter has until 5 PM on June 12th to voluntarily return the assets. Otherwise, UwU Lend says it will offer the bounty to the public and reward 20 percent to anyone who can identify the hacker in a way that will lead to a conviction in court.
UwU Lend suffers a second exploit this week, resulting in a $3.7 million loss. The same exploiter is believed to be responsible.
The UwU Lend protocol, previously targeted in a nearly $20 million hack on June 10, is facing an ongoing cryptocurrency exploit that has so far resulted in the theft of $3.7 million.
This development comes as the protocol has been making efforts to reimburse its users following the $19.3 million June 10 hack.
$3.7 Million Hack Cyvers, an on-chain data analytics platform, was the first to alert UwU Lend about the ongoing exploit. According to its findings, the bad actors behind this latest incident appear to be the same as those responsible for the earlier $19.3 million heist.
ALERT@UwU_Lend has suffered another security breach by the same attacker!
Total loss: $3.7M
Affected pools: uDAI, uWETH, uLUSD, uFRAX, uCRVUSD, uUSDT
All stolen assets have been converted to $ETH and are located at the attacker’s address: https://t.co/9TvwLh18P1
To learn… https://t.co/AjcMS1Cdyl
— Cyvers Alerts (@CyversAlerts) June 13, 2024
The stolen funds, sourced from various asset pools, including uDAI, uWETH, uLUSD, uFRAX, uCRVUSD, and uUSDT, have already been converted into Ethereum and transferred to the attacker’s address.
Following the initial breach on June 10, the development team at UwU Lend notified the community that they had implemented immediate measures to mitigate the damage. The protocol was temporarily paused while investigations were conducted into the vulnerabilities exploited by the hackers.
In an update shared on June 12 via a thread on X, the UwU developer team disclosed that they had identified the specific vulnerability related to the sUSDe market oracle and claimed to have resolved it.
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The team has now identified the vulnerability, which was unique to the sUSDe market oracle and has now been . All other markets have been re-reviewed by industry professionals and auditors with no issues or concerns found.
— UwU Lend (@UwU_Lend) June 12, 2024
They added that independent audits of all other markets had been conducted without discovering additional issues, assuring users that all functions would resume promptly and emphasized that no user funds had been permanently lost during the incident.
Reimbursement Efforts Following the incident, UwU initiated reimbursement efforts, informing users that “The protocol will repay all bad debt as quickly as reasonably possible. We will keep users up to date about progress and the next steps.”
In a final update on June 13, the team reported that they had successfully reimbursed a total of $9,715,288 to affected users thus far. The breakdown included specific amounts returned in various cryptocurrencies such as DAI, crvUSD, USDT, and wETH.
UwU Lend, a fork of the open-source AAVE v2 protocol, offers its users various decentralized finance services such as lending, borrowing, and staking. One of its unique features includes a revenue-sharing token called UwU, which allows users to earn a portion of the platform’s revenues directly.
UwU Lend has put up a $5 million bounty in ETH for anyone who can apprehend the hacker behind the recent heists.
This move comes after the efforts to get the hacker to release the stolen funds proved futile.
UwU Lend Offers $5M to Catch Hacker UwU Lend, a decentralized lending protocol, is offering a $5 million bounty in Ethereum for ‘the first person to identify and locate’ the hacker who has been carrying out attacks lately. In the announcement made through Input Data Message (IDM) on Ethereum, there is no demand for the recovery of funds or facing the criminal charges.
This bounty comes after unsuccessful talks with the hacker where UwU Lend proposed to give the hacker 20% of the stolen funds if the rest 80% would be returned. The hacker did not follow the offer that was made to him/her, and therefore UwU Lend had to step up its actions.
Source: IDM
On Monday, the exploiter utilized a flash loan attack to hack UwU Lend, and the platform lost $20 million. Another raid occurred on Thursday, resulting in the loss of another $3.7 million. According to blockchain security experts, the same person is behind both attacks.
Previous Offers and Deadlines UwU Lend at first tried to settle the dispute without involving the police by offering the exploiter a deal. If the hacker decided to return 80% of the stolen amount, he would be allowed to retain the 20% and be let off the hook.
This offer was extended with a deadline of Wednesday, 1 p.m. ET (17:As at 00:00 UTC, which was the agreed time to shut down the system, the hacker did not do so.
By Thursday, UwU Lend informed that the repayment period has been over and, therefore, the protocol had to think about other options which resulted in the creation of the $5 million bounty.
Repeated Exploits and Security Concerns The first incident on June 10 was a flash loan attack that manipulated price oracles of sUSD stablecoin which left the platform to lose $20 million. After this, UwU Lend came out and said that the problem has been noted and fixed. However, another attack on June 13 resulting in a loss of $3.7 million, showed that the security issues had not been fully addressed. Both of these attacks have caused concerns in the DeFi industry on the effectiveness of security measures that have been put into place in decentralized platforms.
Due to its connection with Michael Patryn, also known as Omar Dhanani and 0xSifu, co-founder of the collapsed cryptocurrency exchange QuadrigaCX, UwU Lend has attracted criticism. This background has compounded the problem of rebuilding user trust in the wake of the exploits.
We have made an offer to the hacker and are awaiting a response. The protocol will remained paused until the investigation has concluded. Thank you for your patience during this time.
List of approximate assets and values taken listed below.
— UwU Lend (@UwU_Lend) June 11, 2024
The experts advise the application to utilise better real-time tracking and stronger security measures to reduce the risk to the users’ valuables. However, in light of the recent breaches, UwU Lend has ensured its clients that their funds are secure and that all the losses incurred will be recovered at the earliest.
The company has also thanked security firms such as Hypernative Labs for their timely notifications that allowed the company to act quickly to minimize the effects of the exploits. UwU Lend has also ceased and is slowly bringing back its markets, and working on getting back to normalcy.
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In a Thursday broadcast, UwU Lend consents to a $5 million bounty reward in ETH to whoever discovers the identity of the hacker(s) who breached their protocol. The DeFi protocol has reportedly suffered another breach, which cost $3.72 million.
UwU Lend suffers $23 million breach, sets bounty reward of $5 million for hacker reveal Based on an Input Data Message on Thursday via Etherscan, UwU Lend established a bounty reward for anyone who can reveal the identity of the hacker who breached through their walls. The reward, which is $5 million in ETH, will be delivered upon exposure of the exploiter.
Read more: AAVE price tumbles 20% in 2024 despite doubling its total value locked
The decentralized finance platform had previously attempted to resolve the issue with the hacker without pressing charges, given that the culprit would return 80% of the funds extracted on Monday. This message was released via an IDM on Monday following the breach, with an ultimatum of 17:00 UTC on Wednesday to return the funds.
As the unknown hacker failed to heed a settlement request from UwU Lend, the platform proceeded with the bounty reward approach.
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“The repayment deadline for the funds you stole has passed. $5 Million bounty to the first person to identify and locate you, paid in ETH. No recovery of funds or charges is required. Have a nice day,” the announcement stated.
UwU Lend experienced a breach on Monday, which led to an exploit of $19.3 million. The DeFi platform was reported to have suffered another breach of $3.72 million earlier today, totaling $23 million, according to blockchain security firm SlowMist.
Read more: SEC Chair says Ethereum ETF S-1 approvals likely to come over the summer
This breach is the latest among several reported attacks targeted at crypto protocols. A recent report from Cointelegraph stated that the total estimate for breaches among crypto firms totaled $19 billion over the last 13 years, dating back to 2011.
The same hacker that exploited $20 million from UwU Lend earlier this week stole another $3.7 million using the funds stolen in the first exploit to carry out the second attack.
The hacker used the sUSDe tokens from the first hack to drain UwU Lend’s pools in the second attack.
Shutterstock
Posted June 13, 2024 at 9:10 pm EST.
UwU Lend, the decentralized finance (DeFi) protocol that lost $20 million in an exploit on June 10, has been attacked again by the same hacker in the midst of a reimbursement process for affected users.
Blockchain security firm Cyvers alerted users on X to the ongoing exploit on Thursday, with onchain data showing that the attacker stole a further $3.7 million from the UwU Lend protocol.
The attacker exploited uDAI, uWETH, uLUSD, uFRAX, uCRVUSD and uUSDT asset pools and has already converted the stolen funds to ether.
The June 10 exploit was carried out by way of a flash loan attack, where the attacker swapped the USDe stablecoin for other tokens, manipulating the price of USDe and sUSDe.
The UwU Lend team said on June 12 they had identified and resolved that the vulnerability was unique to the sUSDe market oracle, and had unpaused the protocol and started paying off the protocol’s bad debt and reimbursing users.
UwU Lend repaid $9.7 million worth of bad debt, but because the protocol still treated the hacker’s funds as legitimate collateral and attacker still held a significant amount of these tokens from the first exploit, the attacker was still able to drain UwU Lend’s other pools.
Web3 security firm MetaTrust Labs noted that the hacker used 60 million sUSDe from the previous hack as collateral to drain the pool, and still holds 5 million sUSDe tokens.
UwU Lend was created by collapsed crypto exchange QuadrigaCX co-founder Michael Patryn or “0xSifu,” who offered the hacker a 20% bounty in exchange for returning 80% of the stolen funds.
That offer appears to be off the table based on Sifu’s latest blockchain message to the hacker.
“Repayment deadline for the funds you stole has passed. Five million dollar bounty to the first person to identify and locate you, paid in ETH,” wrote Sifu.
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DeFi lending protocol UwU Lend has suffered two attacks in the past three days. The second exploit occurred on Thursday during the protocol’s reimbursement process from the first hack. The ongoing saga has taken around $23 million from the protocol.
DeFi Protocol Hit With $20 Million Exploit On June 10, DeFi project UwU Lend was hit by a sophisticated attack that took $19.3 million. The attack seemingly involved the use of flash loans to exploit the protocol. The project quickly addressed the situation by pausing the protocol and assured users that most assets were safe.
UwU Lend acknowleges $20 million exploit. Source: UwU Lend on X Additionally, the team offered a $4 million white hat bounty for the return of the funds. The list of stolen assets included Wrapped Ethereum (wETH), Wrapped Bitcoin (wBTC), Curve DAO (CRV), Tether (USDT), Staked USDe (sUSDE), and others.
Blockchain security firm Beosin revealed that the attacker manipulated the price of USDe (USDE) by swapping it for other tokens through flash loans. Seemingly, this move lowered USDe and sUSDE’s price.
Following the price manipulation, the hacker deposited part of the tokens to UwU Lend and “lent more $sUSDe than expected,” driving USDe’s price higher. Similarly, the attacker deposited the sUSDE to the DeFi protocol and borrowed CRV.
On Wednesday, UwU Lend informed users that its team had identified the vulnerability. Per the post, it was a vulnerability unique to the sUSDE market oracle and had been resolved at the time of the report.
As a result, the protocol was unpaused, and the markets were slowly relaunched to return to their normal operations. The DeFi project also announced it would repay all its bad debt and that users’ funds had not been lost during the exploit, claiming that their funds “are safu at UwU Lend.”
Do You Get DéFì Vu? What seemed to be the end of the story turned out to be the first installment of a saga. On Thursday, reports of a second attack on UwU Lend appeared as the protocol carried out its reimbursement process.
According to the reports, the same attacker drained another $3.7 million from the DeFi protocol before converting the funds to ETH again. The affected pools included uDAI, uWETH, uLUSD, uFRAX, UCRVUSD, and uUSDT.
The crypto community expressed their concern about the second attack, with many questioning if their funds were indeed safe. Users started to joke that funds were not “safu” but were “with Sifu” instead.
Crypto community shares memes about the attack. Source: ZachXBT on X UwU Lend was founded by Michael Patryn, also known as Sifu. Patryn was the co-founder of the now-collapsed QuadrigaCX. As reported by Bitcoinist, Canadian authorities were pursuing an unexplained wealth order (UWO) against Sifu for his involvement in the exchange’s criminal activities.
The DeFi project has paused the protocol for the second time this week, and the situation is being investigated. However, online reports claim that the second exploit was caused by a vulnerability similar to the first attack.
MetaTrust Labs explained the hacker seemingly used 60 million uSUSDE obtained from Monday’s hack “as collateral to drain the pool.”
The news caused users to wonder whether the UwU Lend team was unaware of the tokens in the attacker’s wallet. Some also questioned why they didn’t stop supporting the sUSDE collateral.
At the time of writing, an official explanation for the second exploit has not been published.
ETH is trading at $3,447 on the three-day chart. Source: ETHUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com
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In the latest close session, Twilio (TWLO - Free Report) was up +2.34% at $188.34. The stock's change was more than the S&P 500's daily loss of 0.1%. On the other hand, the Dow registered a gain of 0.35%, and the technology-centric Nasdaq decreased by 0.43%.
Coming into today, shares of the company had lost 2.96% in the past month. In that same time, the Computer and Technology sector lost 2.15%, while the S&P 500 lost 1.34%.
Analysts and investors alike will be keeping a close eye on the performance of Twilio in its upcoming earnings disclosure. The company's upcoming EPS is projected at $1.32, signifying a 10.92% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $1.42 billion, indicating a 15.84% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $5.64 per share and revenue of $5.81 billion, which would represent changes of +15.34% and +14.61%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Twilio. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Twilio is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Twilio is currently exchanging hands at a Forward P/E ratio of 32.64. This expresses a premium compared to the average Forward P/E of 17.83 of its industry.
We can additionally observe that TWLO currently boasts a PEG ratio of 1.81. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. TWLO's industry had an average PEG ratio of 0.99 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 90, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
UwU Lend, a DeFi lending protocol, suffers a second $3.7 million hack during reimbursement efforts from a previous $19.3 million attack, raising security concerns.UwU Lend, a DeFi lending protocol, has suffered two attacks within three days, losing a total of $23 million. The second attack occurred on Thursday while the protocol was trying to reimburse users from the first hack.
On June 10, UwU Lend was struck by a sophisticated attack, resulting in a loss of $19.3 million. The attackers used flash loans to exploit the protocol. In response, UwU Lend paused its operations and assured users that most assets were secure. They also offered a $4 million white hat bounty for the return of the stolen funds. The stolen assets included Wrapped Ethereum (wETH), Wrapped Bitcoin (wBTC), Curve DAO (CRV), Tether (USDT), Staked USDe (sUSDE), and others.
Blockchain security firm Beosin revealed that the attacker manipulated the price of USDe (USDE) by swapping it for other tokens using flash loans. This devalued USDe and sUSDE. After the price manipulation, the hacker deposited some tokens into UwU Lend and borrowed more $sUSDe than expected, driving USDe’s price higher. Similarly, the attacker deposited the sUSDE to UwU Lend and borrowed CRV.
By Wednesday, UwU Lend announced they had identified and fixed the vulnerability, unique to the sUSDE market oracle. The protocol was unpaused, and markets were gradually reopened. The team assured users that their funds were safe and that all bad debts would be repaid.
Just as the situation seemed under control, a second attack was reported on Thursday during the reimbursement process. This time, the same attacker drained another $3.7 million from the protocol and converted the funds back to ETH. The affected pools included uDAI, uWETH, uLUSD, uFRAX, UCRVUSD, and uUSDT.
The crypto community reacted with concern, questioning the safety of their funds. Many joked that the funds were not “safu” but were “with Sifu,” referring to UwU Lend’s founder Michael Patryn, also known as Sifu. Patryn, a co-founder of the collapsed QuadrigaCX, is currently under investigation by Canadian authorities for his involvement in the exchange’s criminal activities.
UwU Lend has paused the protocol again this week to investigate. Reports indicate that the second exploit was caused by a vulnerability similar to the first attack. MetaTrust Labs explained that the hacker used 60 million uSUSDE obtained from Monday’s hack as collateral to drain the pool.
This series of events led users to question whether the UwU Lend team knew about the tokens in the attacker’s wallet and why they didn’t stop supporting the sUSDE collateral.
As of now, UwU Lend has not provided an official explanation for the second exploit. Users are left wondering how a similar attack could happen so soon after the first and whether the protocol’s security measures are adequate to prevent future breaches.
The challenges faced by UwU Lend highlight the vulnerabilities in DeFi protocols and the importance of strong security measures. As the investigation continues, the DeFi community will be closely watching to see how UwU Lend addresses these issues and what steps they take to restore user confidence.
UwU Lend’s recent experiences highlight the risks involved in DeFi protocols. The quick succession of attacks has shaken user confidence and raised important questions about the protocol’s security. As the investigation unfolds, UwU Lend must address these vulnerabilities and implement stronger safeguards to protect their users and assets. The outcome will have significant implications for the broader DeFi ecosystem, emphasizing the need for continuous improvement in security practices and protocols.
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Decentralized lending protocol UwU Lend has unveiled a $5 million bounty to “identify and locate” the exploiter.
Developers of UwU Lend are promising to pay up to $5 million “to the first person to identify and locate” a hacker, who exploited the protocol for over $23 million worth of crypto. The bounty was announced shortly after the attacker missed the deadline set by the UwU Lend team, who expected the return of 80% of the stolen funds in exchange for a 20% reward.
As crypto investigator @CryptoEvgen noted in their X account, the hacker started funneling the stolen assets via Tornado Cash, a mixing service sanctioned by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) for facilitating approximately $7 billion in crypto laundering since 2019.
As of press time, it’s understood that the hacker has already laundered at least 500 ETH, valued at approximately $1.7 million at current market prices.
UwU Lend, which leverages the open-source AAVE v2 code, suffered two separate attacks from the same hacker in less than three days, executing what appears to be flash loan attacks that compromised multiple liquidity pools.
Founded by Michael Patryn, also known as Omar Dhanani or “0xSifu” — a co-founder of the now-defunct QuadrigaCX exchange — UwU Lend provides lending, borrowing, and staking services while distributing platform revenues through its native token, UwU.
The leading cryptocurrency is trading at $66,700, and altcoin sales have weakened. One of this week’s most significant developments was the UwU Lend attack. The Curve CEO made important statements to clear up misinformation. What did he say?
The Curve CEO spoke about the UwU Lend hack and the CRV token burn. Michael Egorov has been in the spotlight during many market downturns. Speculative traders targeting the liquidation price of his DeFi position have often triggered significant losses in the CRV Coin price through social media discussions.
Egorov made the following statements regarding recent events:
“This was not an exploitation of Curve Finance. It was an exploitation of a separate project (UwU Lend). As part of the cash-out game, the hacker deposited the CRVs taken from UwU into lendcurvefi (LlamaLend) and disappeared with the funds, leaving the debt in the system.”
To prevent similar attacks in the future, he suggested “revalidating all contracts and having them reviewed by good security auditors.”
CRV Coin BurnThere was a lot of misinformation, which also triggered recent CRV Coin price fluctuations. Egorov made statements on this matter as well. These statements were crucial to preventing the spread of false information on social media:
“This information was tweeted by a fake (impersonator) account, accompanied by a scam link. Several journalists did not verify the news and published it.”
So, what are the positions of the Curve CEO?
“The CRVs sent as collateral for loans likely accounted for about 30% of the circulating supply; half of this was in Curve, so indeed some doubtful receivables were formed. It was already repaid. No one was affected. For smaller cryptos (e.g., not BTC or ETH as collateral), debt ceilings should probably be provided; data shows that Curve-specific markets can be well parameterized to withstand these conditions.”
Egorov also mentioned that steps could be taken regarding open-source liquidation bots in the future.
“It seems the industry’s heavyweights did not fully know how to handle liquidations; they did not attempt partial hard liquidations for my position in Curve. I had to do it myself in the end. In the future, this area could be better with open-source liquidation bots.”
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.
President Donald Trump said the United States will strike Iran “VERY HARD TONIGHT” and later seize Kharg Island, the terminal behind roughly 90% of the country’s crude oil exports.
Oil prices climbed back above $91 within minutes of the Truth Social post, while Bitcoin quickly fell below the $63,000 threshold. Meanwhile, energy traders priced a higher geopolitical risk premium across the board.
Bitcoin and Oil Prices. Source: TradingViewTrump Targets Kharg Island, Iran’s Oil LifelineTrump published the threat on Thursday, days after US forces resumed strikes on Iran. Tehran says those attacks rendered its ceasefire with Washington meaningless and has launched retaliatory strikes on US bases in the region.
“The United States will be hitting Iran… VERY HARD TONIGHT. At some point in the not too distant future, we will be taking Kharg Island, and other oil infrastructure points, and assume total control of their Oil and Gas Markets, much like we have with Venezuela…” Trump wrote in the post.
The Venezuela comparison points to a live template. Washington has controlled Venezuelan crude sales since US forces seized Nicolas Maduro in January.
The Council on Foreign Relations reports almost 100 million barrels, worth about $8 billion, moved through US-run accounts in four months.
Kharg is a far bigger prize. The terminal loads the supertankers that carry roughly 90% of Iranian crude exports, per CFR, making it the economy’s single most exposed asset.
Iran has answered with pressure of its own. Its Persian Gulf Strait Authority declared the Strait of Hormuz closed until further notice, while US Central Command says commercial vessels continue to transit.
JPMorgan estimates visible tanker traffic has already fallen to about 15% of pre-war levels.
History also cautions against expecting a clean shutoff. Iraq bombed Kharg repeatedly during the 1980s Tanker War, yet Iran rerouted exports through Lavan and Sirri islands and kept shipping over 1.5 million barrels per day.
Bitcoin Holds Near $63,000 as Oil Snaps BackUS crude spot prices spent most of Thursday sliding toward $90 before jumping to $91.75 after the post. In contrast, BTC dipped to about $62,680 before recovering to $62,841, up 0.25% on the day, according to BeInCrypto Markets data.
The surge in volatility mirrors Trump’s earlier ceasefire announcement, when risk assets like Bitcoin and stocks as well as commodities such as oil repriced sharply.
However, analysts have cautioned that a sustained oil shock could still feed liquidity pressure on crypto through higher inflation and tighter risk appetite.
Tehran, for its part, keeps pushing conflict finance onto crypto rails, including a proposed Bitcoin toll on tankers transiting Hormuz.
Tonight’s threatened strikes materializing may determine if oil’s new risk premium hardens or fades by the weekend.
Key Highlights Dutch TTF natural gas futures plummeted more than 5% on Friday, reaching their lowest point in two weeks. President Trump announced that a peace agreement between the U.S. and Iran might be finalized this weekend. Planned U.S. military operations against Iran were cancelled by Trump, reducing conflict escalation concerns. Approximately 20% of the world’s LNG supply passes through the Strait of Hormuz, making it a critical supply route. Iranian officials have yet to confirm a finalized agreement, leaving markets in a state of cautious optimism. Natural gas prices across Europe experienced a significant decline on Friday following remarks from President Donald Trump suggesting a potential diplomatic resolution with Iran. The Dutch TTF natural gas benchmark contract, Europe’s primary pricing reference, tumbled more than 5% to approximately €47 per megawatt-hour, marking its lowest trading level in a fortnight.
Dutch TTF Natural Gas Calendar (TTF=F) According to Trump’s statements, a comprehensive peace agreement could potentially be executed in Europe within days. The President also revealed that he had called off scheduled U.S. military actions targeting Iran. These developments triggered a rapid selloff in energy commodities as market participants scaled back expectations of imminent supply chain disruptions.
The Strategic Importance of the Strait of Hormuz The Strait of Hormuz has emerged as a focal point for energy market anxiety throughout recent weeks. This critical maritime chokepoint facilitates the transit of roughly 20% of global liquefied natural gas shipments. Any military confrontation or blockade in this strategic waterway could severely constrain supply flows to European nations and international buyers.
Earlier in the week, Trump had issued warnings about potentially seizing Iran’s Kharg Island and asserting control over Iranian energy infrastructure. These aggressive statements had propelled gas prices toward multi-week peaks and maintained elevated anxiety among market participants as summer approached.
BREAKING: President Trump says the US will be "hitting Iran very hard tonight" and announces that the US will be "taking Kharg Island" in the "not too distant future."
President Trump also says the US will "assume total control" of Iran's oil and gas markets, "much like we have… pic.twitter.com/uvBNjEkE5W
— The Kobeissi Letter (@KobeissiLetter) June 11, 2026
European markets face heightened vulnerability given that current underground gas storage inventories are tracking below previous year levels. Any constriction in global LNG availability could have amplified price increases during the critical summer storage replenishment period.
Qatar, a leading LNG producer, relies on Strait of Hormuz transit routes for its export operations. Although Europe sources considerable gas volumes through pipeline infrastructure and Atlantic basin suppliers, it remains a competitor for spot LNG cargoes in the international marketplace.
Traders Remain Wary Despite Price Decline Notwithstanding the substantial price correction, market participants maintain skepticism about whether a definitive agreement has been reached. Iranian representatives have not yet publicly acknowledged the existence of a completed framework agreement, though some officials indicated that primary terms have been settled.
The United Kingdom’s natural gas futures contract similarly declined approximately 2% on Friday, briefly touching one-month lows during early trading before recovering modestly by settlement.
Crude oil prices also retreated to two-month lows following the same diplomatic developments. Market analysts characterized Trump’s peace deal statements as the most substantive indication to date of genuine diplomatic progress.
The ICE Dutch TTF futures contract, serving as Europe’s benchmark gas pricing instrument, descended below the €47 threshold, briefly reaching €46.19 during intraday trading. This represents a notable retreat from levels exceeding €50 observed earlier in the trading week.
The geopolitical risk premium that had accumulated throughout weeks of escalating U.S.-Iran confrontation was rapidly being eliminated from market valuations. However, absent formal signatures on a binding agreement, traders are anticipated to maintain vigilance.
Any resumption of hostile actions or breakdown in diplomatic negotiations could swiftly reverse Friday’s price decline and propel European gas futures back toward their recent elevated levels.
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.
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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.
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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.
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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.
Riot Games is taking the LCS to Atlanta this fall. The 2026 League of Legends Championship Series Summer Finals will be held at Gas South Arena on October 3 and 4, marking the league’s latest move to plant flags in cities far from its traditional Los Angeles home base.
The Atlanta event follows the earlier announcement that the 2026 LCS Spring Finals will land at Mullett Arena on the Arizona State University campus in Tempe, Arizona, on June 13-14. Two major finals in two cities that have never hosted LCS events.
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A league reinventing its footprint Gas South Arena has hosted other live entertainment and esports-adjacent events, but it has no established LCS history. Riot has also signaled that additional off-site events will be sprinkled throughout the year, suggesting the Summer and Spring Finals aren’t the only stops on this road show.
Structural changes behind the scenes The LCS itself is being restructured for the 2026 season in ways that fundamentally change how the league operates. The league is transitioning to an eight-team format with a single round-robin regular season and best-of-three matches.
This restructuring comes after the dissolution of the LTA partnership system that previously governed the league’s operations. Riot is essentially running the LCS as a standalone entity now, giving the company more direct control over scheduling, event production, and competitive format.
The crypto sponsorship question There are currently no cryptocurrency or token-related announcements tied to the 2026 Summer Finals. That’s a notable absence. Esports and crypto were practically inseparable a few years ago. FTX slapped its name on major esports deals before its spectacular collapse. Coinbase similarly invested in esports sponsorship during the bull market.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Key Takeaways Sunday’s announcement of a U.S.-Iran ceasefire agreement is triggering significant movements in international markets Nasdaq 100 futures surged more than 2% while S&P 500 futures climbed 1.3% following the announcement Brent crude oil tumbled approximately 5% to hover near $83 per barrel amid reduced supply concerns Natural gas prices in Europe experienced steep declines, with Dutch benchmark prices reaching their lowest point in a month The strategically vital Strait of Hormuz is scheduled to reopen following a signing ceremony planned for Friday in Switzerland International financial markets experienced significant volatility on Monday as investors digested news of a ceasefire arrangement between Washington and Tehran. Equity futures are climbing, crude oil is retreating, and European natural gas markets are declining in response to the diplomatic breakthrough.
Dutch TTF Natural Gas Calendar (TTF=F) President Donald Trump revealed details of the agreement late Sunday evening via his Truth Social platform, describing the arrangement as “complete.” Pakistan’s Prime Minister Shehbaz Sharif, whose government served as mediator for the negotiations, announced that an official signing ceremony will take place this Friday in Switzerland.
Iranian Deputy Foreign Minister Gharibabadi verified the agreement during an appearance on state-controlled television. Tehran has indicated its willingness to commence comprehensive peace negotiations within a 60-day timeframe.
Equity Futures Rally on Diplomatic News Nasdaq 100 futures dominated the upward movement, surging beyond 2% in early trading. S&P 500 futures advanced 1.3% while Dow Jones futures posted gains of approximately 1%. These increases build on Wall Street’s positive momentum from Friday’s trading session.
E-Mini S&P 500 Jun 26 (ES=F) SpaceX contributed additional optimism to the market environment. The company’s stock climbed nearly 7% during premarket hours, following its public market debut on Friday that saw shares skyrocket more than 19% and propelled its valuation beyond the $2 trillion threshold.
Market participants are also focused on the Federal Reserve’s upcoming policy announcement scheduled for Wednesday. Current trader expectations suggest a 98% probability of unchanged interest rates, based on CME FedWatch tool indicators.
Both the NYSE and Nasdaq exchanges will remain closed Friday in observance of the Juneteenth holiday.
Energy Commodities Retreat on Supply Relief A key component of the ceasefire agreement involves reopening the Strait of Hormuz, an essential passageway for international petroleum shipments. Trump indicated the waterway will become accessible for mine-clearing operations after Friday’s formal signing event.
Brent crude futures declined approximately 5% to settle just above the $83 per barrel mark. West Texas Intermediate retreated to roughly $80 per barrel.
European natural gas markets also experienced downward pressure. The Dutch front-month contract decreased to 33.36 euros per megawatt hour. Britain’s gas contract fell 6% to reach 106.17 pence per therm. Both benchmarks touched their lowest levels in more than four weeks.
Current EU gas storage facilities stand at 44.34% capacity. Comparatively, storage levels at this point last year registered 53.02%. This differential highlights Europe’s ongoing struggle to accumulate adequate reserves ahead of the winter heating season.
According to market analysts, the arrangement may provide Iran with financial incentives, access to previously frozen assets, and potential relaxation of petroleum sanctions. Questions surrounding Iran’s nuclear ambitions remain unresolved.
Financial markets are weighing both the geopolitical de-escalation and tangible effects on energy availability. Despite falling prices, European storage capacity continues tracking below last year’s figures, maintaining underlying tension in gas markets.
The Strait of Hormuz is open for business again. A US-Iran peace agreement reached on June 14, 2026, effectively ends months of hostilities that had choked one of the world’s most critical energy bottlenecks, and fuel markets are already responding.
Brent crude oil dropped by $3 to $5 per barrel following the announcement, settling around $83.89. West Texas Intermediate crude fell to approximately $80.85.
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What the deal means for drivers During the conflict, US national average gas prices surged above $4.50 per gallon. Analysts now expect gradual reductions at the pump, potentially several cents per day as markets digest the lowered supply risk. Full price normalization may not arrive until sometime in 2027.
The Strait of Hormuz handles roughly 20% of global oil flows. The conflict that began in late February 2026 had progressively restricted transit through the strait, creating a slow-motion energy crisis that pushed crude benchmarks higher and dragged consumer fuel costs along for the ride.
The crypto connection you didn’t see coming Iran’s cryptocurrency portfolio is estimated at roughly $7.7 to $7.8 billion, accumulated primarily as a tool for sanctions evasion. The US Treasury has responded by imposing sanctions on digital asset wallets linked to Iran, freezing hundreds of millions of dollars in crypto tied to evasion activities.
Despite that regulatory overhang, crypto markets reacted positively to the peace signals. Bitcoin’s price moved toward $74,000 as investor sentiment improved on the back of de-escalation news.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
A new Ethereum Research proposal is putting post-quantum wallet security back in focus, outlining a practical way to verify quantum-resistant signatures on the EVM without requiring a full protocol-level upgrade.
The proposal, published by Ethereum researcher nicocsgy, explores an EVM-optimized version of the SPHINCS+ stateless post-quantum signature scheme. The design aims to make quantum-resistant verification more practical for wallet use cases by adapting the scheme to Ethereum’s existing execution environment.
TL;DR An Ethereum Research proposal outlines a post-quantum signature verification approach for the EVM. The design is based on SPHINCS+ but optimized for Ethereum-style execution. The proposal uses KECCAK256 instead of SHAKE256 to better fit EVM costs. It could give wallets and smart accounts a practical migration path before quantum threats become urgent. Why Quantum Security Is Back In The Ethereum Conversation Quantum computing is not an immediate threat to Ethereum wallets today, but developers are already thinking about what a migration path could look like if cryptographic assumptions change.
Most blockchain wallets rely on public-key cryptography. If future quantum computers become powerful enough to break widely used signature systems, wallets and protocols will need alternative methods to prove ownership securely.
That does not mean Ethereum is facing a near-term crisis. It means the ecosystem needs credible upgrade paths before the risk becomes urgent.
The Ethereum Research proposal is interesting because it does not wait for a full base-layer redesign. Instead, it looks at whether post-quantum signature verification can be made practical inside the EVM itself.
How The SPHINCS-Based Design Works SPHINCS+ is a stateless post-quantum signature scheme standardized by NIST. The challenge is that post-quantum signatures can be large and expensive to verify on-chain, especially if the underlying design does not map neatly onto Ethereum’s cost model.
The proposal adapts the idea by replacing the standard SHAKE256 hash function with KECCAK256, which is native to the EVM. That matters because Ethereum already supports KECCAK256 efficiently, making it a more practical building block for on-chain verification.
The author also focuses the design around typical wallet behavior rather than trying to cover every theoretical use case. That trade-off is important. If the goal is to give users a realistic path to protect funds, the solution needs to be affordable enough to use, not just academically sound.
The report estimates verification in the range of roughly 127,000 to 150,000 gas. That is still more expensive than a normal signature verification flow, but it is low enough to be discussed as practical for high-value wallet protection and smart account designs.
What This Could Mean For Wallets The most useful part of the proposal is the idea of an upgrade-free path. If smart accounts or wallet contracts can verify post-quantum signatures at the application layer, users may not need to wait for Ethereum itself to change its signature system.
That could matter for long-term holders, custodians, and institutions. These users are less concerned with making every transaction as cheap as possible and more concerned with making sure large balances can be protected across long time horizons.
A practical route could involve smart accounts that support quantum-resistant recovery, migration, or spending conditions. Users could move funds into wallets that are harder to attack under future cryptographic assumptions while the broader Ethereum protocol continues to evolve.
Still Early, But Worth Watching This is still research, not a finished wallet standard. There are trade-offs around signature size, gas cost, implementation complexity, and user experience. Any production version would need serious review before large balances depended on it.
Even so, the direction is important. Crypto security cannot wait until quantum computers are powerful enough to create an emergency. The safer path is to test practical migration tools early, while there is still time to evaluate them calmly.
For Ethereum, post-quantum readiness will likely be a gradual process. Proposals like this show how the first steps may happen at the wallet and smart account layer rather than through one dramatic network-wide switch.
The US-Iran peace framework announced around June 14-15 did exactly what markets hoped it would do to oil prices. Brent crude dropped more than 5%, settling near $82.84-$82.91 per barrel. The problem is what it hasn’t done to the price you actually pay at the pump.
US gasoline prices sit at a national average of roughly $4.07 per gallon. That’s down from the $4.56 peak earlier this year, but still about 36.6% higher than pre-war levels below $3.
How we got here The conflict traces back to late February 2026, when US-Israel military actions against Iran triggered a chain reaction that shut down the Strait of Hormuz. That waterway handles roughly 20% of global oil trade.
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Brent crude spiked to between $112 and $120 per barrel by early April 2026. US gasoline prices surged more than 50% from their pre-conflict baseline, hitting that $4.56 per gallon peak.
The proposed peace framework includes plans to reopen the Strait of Hormuz and lift the US naval blockade. A formal signing has been tentatively scheduled for June 19.
What the crypto market is telling us Bitcoin responded to the deal announcement by climbing approximately 2% to a two-week high above $65,500.
During the worst of the conflict, rising energy costs acted as a drag on risk assets across the board. Higher oil prices feed into inflation expectations, which feed into tighter monetary policy expectations, which feed into lower prices for speculative assets like crypto.
What investors should actually watch The formal signing date of June 19 is the immediate catalyst. If the deal gets inked as expected, the market will shift its focus to how quickly the Strait of Hormuz reopens to full commercial traffic and how fast sanctioned oil flows resume.
Some analysts pointed out during the 2022 energy crisis that prices take the elevator up and the stairs down. The same dynamic appears to be in play here.
Volatility in crypto markets is likely to persist as investors toggle between geopolitical optimism and the stubborn reality that structural problems in energy markets don’t resolve on political timelines.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Glamsterdam has reached its final devnet stage, locking in ten EIPs including ePBS and Block-Level Access Lists. The bundle clears the path for a 200 million gas-limit floor and mainnet activation in H2 2026.
Ethereum's Glamsterdam hard fork reached its final devnet stage Tuesday, locking in the EIP bundle that core developers expect to carry the network through public testnets and on to mainnet activation in the second half of 2026. The release is being framed as the largest protocol change since the Merge.
The upgrade ships ten Ethereum Improvement Proposals tracked under the Glamsterdam Meta EIP-7773, with two headliners doing the structural heavy lifting: EIP-7732, which enshrines Proposer-Builder Separation (ePBS) directly in the protocol, and EIP-7928, which introduces Block-Level Access (BALs) Lists so validators can process unrelated transactions in parallel.
The combination clears the path for a 200 million gas-limit floor, roughly tripling current L1 capacity from the 60 million range and unlocking what proponents say is up to 10,000 TPS-equivalent throughput under realistic workloads.
The Full EIP BundleThe devnet-0 spec published by the EF's pandaops team lists the included proposals. Beyond ePBS and BALs, the package contains EIP-7708 (ETH transfers and burns emit a log), EIP-7778 (block gas accounting without refunds), EIP-7843 (a SLOTNUM opcode), EIP-7954 (raising the maximum contract size from roughly 24 KiB to 32 KiB), EIP-7975 (eth/70 partial block receipt lists), EIP-8024 (backward-compatible SWAPN, DUPN and EXCHANGE opcodes), EIP-8037 (state-creation gas-cost increase), and EIP-8159 (eth/71 Block Access List Exchange).
The bundle resolves a debate that ran through several All Core Devs calls this spring over whether ePBS and BALs were too ambitious to ship together. The May 2026 finalization of EIP-8037, which sets a fixed cost per state byte and dedicates a separate gas reservoir for state growth, was the final piece that gave client teams a sustainability ceiling under which a 200M gas limit could be raised without bloating the database past 120 GiB per year.
The Two HeadlinersePBS pulls block-building duties into the consensus layer, separating the validator that proposes a block from the builder that constructs the execution payload. The handoff is currently mediated by off-protocol relays like MEV-Boost, which the ethereum.org documentation notes will become optional rather than required once the protocol natively settles builder payments. The change also widens the data-propagation window from two seconds to roughly nine, which is what unlocks the higher gas limit without forcing validators to rush block validation.
Block-Level Access Lists give every block an upfront map of which accounts and storage slots its transactions will touch, plus the post-execution state values. That lets nodes prefetch data in parallel and process non-overlapping transactions concurrently, rather than replaying them serially. BALs also enable executionless sync, where new nodes can update their state from the access-list digest without replaying the full transaction history. The projected throughput gains were laid out in earlier coverage of the framework when the design first crystallized.
Changes for UsersFor end users, the most visible change is EIP-2780, which cuts the intrinsic transaction-gas floor and is projected to make standard ETH transfers between existing accounts up to 71% cheaper. EIP-7708 also makes ETH transfers emit a log, which exchanges and wallets have wanted for years because it removes the need for custom transaction tracing.
For validators, ePBS rewrites the builder-selection process and adds a Payload Timeliness Committee that attests separately to consensus blocks and execution-payload timeliness. Staking pools will need architectural updates to monitor the new flow trustlessly, but the user-facing exit process improves through EIP-8080, which lets standard exits borrow unused capacity in the consolidation queue at a three-for-two rate.
For Layer 2s, the wider propagation window means Ethereum can carry more blobs per block, expanding the data-availability budget that rollups draw from. That continues the Fusaka direction of decoupling rollup data costs from L1 execution congestion, alongside parallel research tracks like the post-quantum key registry laid out earlier this month.
No Mainnet DateA mainnet target slot is not on the table yet. Client teams use the public testnet phase, which follows successful devnet rotation, to set the activation date. Holesky and Hoodi will fork before mainnet, and only after multi-client stability holds for several epochs across those networks.
Past forks have run two to four months of public-testnet seasoning; on that cadence, mainnet would land between September and December 2026.
The 200 million gas limit is the design target for what Glamsterdam unblocks, not a value the fork itself enforces. Validators set the limit via standard gas-vote signaling, which they currently coordinate around the 60 million range, and would step the limit up only as nodes prove they can handle the larger blocks without degraded propagation.
Key Takeaways Natural gas in Europe extended losses for a sixth consecutive trading day, approaching two-month lows An interim peace agreement between Washington and Tehran includes provisions for reopening the Strait of Hormuz Dutch TTF benchmark declined to €40.04 per megawatt hour; British gas slipped to 96.45 pence per therm President Trump issued a stern warning about resuming military operations if Iran violates the 14-point accord Qatari LNG tankers and additional vessels have started returning to Middle Eastern waters European natural gas markets witnessed their sixth consecutive day of declining prices on Thursday, with benchmarks sliding toward levels not seen since the final days of April.
The TTF Dutch front-month contract, Europe’s primary natural gas benchmark, descended to €40.04 per megawatt hour. Meanwhile, the UK natural gas contract broke below the 100-pence threshold, settling at 96.45 pence per therm.
Dutch TTF Natural Gas Calendar (TTF=F) Both key benchmarks are now trading near their lowest points in approximately two months.
The sustained price decline follows the historic signing of an interim peace agreement between the United States and Iran. The two presidents endorsed the memorandum through remote participation.
According to Pakistan’s prime minister, who helped facilitate the negotiations, the agreement ensures Iran will “instantly reopen” the strategically vital Strait of Hormuz. Simultaneously, the United States committed to “immediately lift” its naval blockade affecting Iranian port facilities.
Geopolitical Risk Premium Evaporates The Strait of Hormuz represents one of the world’s most critical bottlenecks for global energy shipments. Its effective closure had maintained an elevated war-risk premium embedded within European energy prices throughout recent months.
As the strait prepares to resume normal operations, this geopolitical risk premium has begun systematically unwinding. Natural gas valuations have trended downward since markets first detected signals suggesting a diplomatic breakthrough was imminent.
The interim framework additionally establishes a permanent cessation of hostile activities. It launches a 60-day window for both nations to hammer out a comprehensive final agreement addressing Iran’s nuclear development programme.
President Trump, however, emphasized that the agreement comes with strict conditions attached. He cautioned that military strikes would resume should Iran fail to honor its commitments under the 14-point memorandum of understanding.
Trader Skepticism Persists Despite the notable price correction, European natural gas valuations have not fully retreated to pre-conflict levels. This persistent gap suggests lingering market uncertainty about the agreement’s durability.
Market participants appear to be maintaining a buffer for the scenario where Trump might abandon the agreement. His explicit warning regarding potential military reengagement has preserved a degree of caution among traders.
Nevertheless, physical commodity markets are already demonstrating tangible responses. Multiple vessels have begun repositioning toward the Middle East, including liquefied natural gas tankers operating from Qatar.
Qatar holds the position as the world’s second-largest LNG exporter. The return of its tanker fleet to regional waters provides an early indication that critical shipping corridors may be reopening for commercial traffic.
European natural gas markets had endured sustained pressure throughout the conflict period. Energy trading desks maintained vigilant monitoring for any indications of diplomatic progress.
The current trading level around €40.6 per megawatt hour represents the lowest valuation recorded since April 20. This marks a substantial departure from the elevated price environment that characterized the conflict’s peak intensity.
Future price movements will largely depend on the complete operational restoration of the Strait of Hormuz and whether the 60-day nuclear negotiation period yields substantive progress.
Gas prices in the United States have dropped below $4 per gallon for the first time in over five months, following a critical US-Iran agreement to reopen the Strait of Hormuz, a vital oil shipping lane. The agreement, mediated by Pakistan, calls for an immediate cessation of military operations and the resumption of commercial shipping through the strait, which handles about 20% of the world’s crude oil. In response to the deal, global crude oil prices have seen a significant decrease, falling by nearly 5% to 8% and approaching $80 per barrel, a sharp contrast to the highs above $110 per barrel earlier in February 2026.
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The development has notably impacted prediction markets related to crude oil prices. The likelihood of crude oil reaching a new all-time high by September 30 has decreased, with current pricing suggesting an 8.5% probability, down from 17% a week ago. Markets appear to interpret the reopening of the Strait of Hormuz as a significant reduction in supply risk, influencing expectations for both short-term and long-term crude oil price increases.
Key Takeaways Market behavior suggests a decreased likelihood of crude oil reaching a new all-time high by September 30, with current odds at 8.5% YES. The US-Iran agreement to reopen the Strait of Hormuz appears to have significantly reduced perceived supply risks, leading to falling global crude oil prices. The price of gasoline in the US has responded to the agreement with a drop below the $4 mark, the first time in over five months. What to Watch Observers should monitor the stability of the US-Iran agreement and its impact on global oil markets. Any signs of renewed tensions or disruptions in the Strait of Hormuz could alter current market dynamics. Additionally, future OPEC+ production decisions and global economic indicators will be crucial in shaping crude oil price expectations. These developments could further influence the likelihood of crude oil reaching new price highs by the year’s end.
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Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
TLDR National fuel prices declined to $3.999 per gallon, breaking below the $4 threshold for the first time in eight weeks. A preliminary peace framework was signed by President Trump and Iranian President Pezeshkian earlier this week. Under the agreement, Iran will reopen the critical Strait of Hormuz waterway while the U.S. removes oil sanctions. International oil benchmarks retreated, with Brent crude declining 1.9% to $78.07 and WTI falling 2.5% to $74.13 per barrel. Financial analysts at Goldman Sachs project Persian Gulf crude shipments will normalize by late July, although uncertainties persist. American motorists are experiencing welcome relief at service stations heading into the Juneteenth holiday weekend.
According to AAA data, the nationwide average fuel cost has slipped to $3.999 per gallon. This represents the first decline beneath the $4 mark in eight weeks.
While prices remain approximately 25% elevated compared to the same period last year, the swift decline of over 50 cents from the $4.515 peak recorded just four weeks earlier signals a significant reversal.
This consumer relief stems directly from tumbling oil prices across international energy markets. These commodity values shifted dramatically following a significant diplomatic breakthrough.
Earlier this week on Wednesday, President Donald Trump and Iranian President Masoud Pezeshkian formalized a preliminary peace framework. The ceremonial signing occurred ahead of the initially scheduled Friday timeline.
Key Provisions of the Agreement The 14-point framework memorandum establishes a roadmap for relations between Washington and Tehran. The accord commits Iran to reopening the strategically vital Strait of Hormuz. Simultaneously, the United States pledges to end its naval blockade of Iranian maritime facilities and terminate sanctions targeting Iranian petroleum exports.
The Strait of Hormuz represents a critical global energy chokepoint. Under normal conditions, approximately 20% of worldwide daily crude oil shipments transit through this narrow passage.
Following the diplomatic announcement, petroleum commodity prices retreated. Brent crude contracts, serving as the global pricing reference, decreased 1.9% to settle at $78.07 per barrel. West Texas Intermediate contracts dropped 2.5% to reach $74.13 per barrel.
Nevertheless, certain ambiguities persist regarding the framework’s implementation. The memorandum stipulates that commercial vessels will face “no charge” for strait passage during an initial 60-day window. While Trump indicated to journalists that the channel would remain “toll-free” beyond this timeframe, such provisions were absent from the formal documentation.
What Goldman Sachs Is Watching Energy market specialists at Goldman Sachs anticipate that crude oil shipments from Persian Gulf terminals will return to pre-conflict volumes by July’s conclusion.
However, their analysis identifies potential complications. Research analyst Yulia Zhestkova Grigsby noted in a client communication that “many shipowners reportedly remain cautious about clear guidelines for transit.”
She further emphasized that shipping industry risk aversion, combined with Iran’s strategic positioning during the upcoming 60-day nuclear framework discussions, may impede the swift restoration of standard petroleum transportation patterns.
The timeline for tanker traffic resuming conventional routing through the strait remains uncertain.
Fuel costs across the United States have now decreased by more than 50 cents compared to monthly highs, demonstrating how rapidly international crude market dynamics translate to retail consumer pricing.
The Juneteenth federal observance occurs on Thursday, June 19, positioning numerous Americans to benefit from reduced pump prices during weekend travel—the lowest rates experienced since April.
Whether this downward price trajectory continues depends substantially on the efficiency of the Strait of Hormuz reopening process and the durability of the broader diplomatic framework between Washington and Tehran.
For the first time since March 2026, the average price of gasoline in the United States dropped below the $4 mark. The catalyst: a memorandum of understanding between the US and Iran that promises to reopen one of the most important chokepoints for global energy supply.
The US national average hit $3.999 per gallon on June 18, down from levels that had been stubbornly parked above $4 for months. Brent crude fell over 4% toward $83 per barrel on the news, a dramatic swing for a commodity that had touched $120 per barrel earlier in 2026 when the conflict was at its most intense.
What the deal actually says President Donald Trump and Iranian President Masoud Pezeshkian signed the preliminary MoU on June 17-18, 2026. The core of the agreement centers on reopening the Strait of Hormuz, the narrow waterway between Iran and Oman that handles roughly 20% of the world’s oil shipments.
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The initial terms call for toll-free passage through the strait for 60 days while Iran clears mines from the waterway. That same 60-day window doubles as a negotiation period covering two of the thorniest issues in US-Iran relations: Iran’s nuclear program and sanctions relief on Iranian oil exports.
Iran has reportedly agreed to diminish its stocks of highly enriched uranium as part of the broader framework.
Oil’s wild year, in context Earlier in 2026, supply disruptions from the conflict drove Brent crude to $120 per barrel. That translated directly into pain at the pump for American consumers, with gasoline prices climbing well above $4 and staying there.
A drop from $120 to around $83 per barrel represents a roughly 30% decline in crude prices from the 2026 peak.
What this means for crypto and risk assets Bitcoin had already climbed to a two-week high above $65,500 prior to the agreement, reflecting a broader market appetite for risk that the MoU appears to have reinforced. Ether also moved higher, though specific figures were less dramatic.
The logic chain works like this: lower oil prices reduce input costs across the economy, which softens inflation expectations, which makes it less likely the Federal Reserve keeps rates elevated or hikes further. Statements from the central bank have tempered some of the enthusiasm that the geopolitical thaw might otherwise have generated.
That 60-day clock is the variable to watch. If negotiations progress smoothly and sanctions relief materializes, Iranian oil flooding back onto global markets could push crude prices even lower. If talks collapse, the Strait of Hormuz could become contested again, oil prices could spike, and inflation fears that crypto markets had started to shake off would come roaring back.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Ethereum Glamsterdam Upgrade Moves Toward 200M Gas Limit Roadmap
TL;DR Ethereum’s Glamsterdam upgrade work is moving through devnet planning ahead of a projected H2 2026 mainnet window. EIP-7732, or enshrined proposer-builder separation, is one of the key pieces being tracked by developers. EIP-7928, covering block-level access lists, is another major component tied to parallel execution and higher throughput. The headline target is a path toward a much higher gas limit, but the exact mainnet package remains subject to Ethereum’s normal testing and governance process. Glamsterdam Moves Into Focus Ethereum’s next major upgrade cycle is now turning toward Glamsterdam, a protocol package expected to define the network’s post-Pectra scaling and block-production roadmap. The upgrade is being watched closely because it touches two of Ethereum’s biggest long-running constraints: who builds blocks, and how much execution capacity the base layer can safely support.
Developer materials and EIP discussions point to enshrined proposer-builder separation and block-level access lists as two of the most important items in the Glamsterdam conversation. Together, they help frame a longer-term path toward higher throughput without simply asking every node operator to absorb more load without structural changes.
What ePBS Tries To Fix EIP-7732, commonly described as enshrined proposer-builder separation, would move part of the current external block-building market into Ethereum’s protocol design. Today, block construction often depends on external relay infrastructure and specialized actors. That system has helped the network manage maximum extractable value, but it has also raised concerns about centralization and censorship pressure.
By bringing proposer-builder separation closer to the protocol layer, Ethereum developers are trying to reduce reliance on off-protocol arrangements and create a cleaner separation between validators proposing blocks and builders assembling them. It is a technical change, but it also speaks directly to Ethereum’s decentralization goals.
Why Block-Level Access Lists Matter EIP-7928, covering block-level access lists, is aimed at making execution more predictable by identifying state access patterns at the block level. In plain English, validators and clients could get better information about what a block needs to touch before processing it. That matters because parallel execution is difficult when the system does not know which transactions are likely to conflict.
If block-level access lists work as intended, they could help Ethereum process more activity without turning every block into a heavier, less predictable burden for nodes. That is why the proposal is often discussed alongside higher gas-limit targets and broader L1 scaling.
A 200M Gas Limit Is The Big Headline The most attention-grabbing part of the Glamsterdam narrative is the potential path toward a 200 million gas limit. That would be a major increase from today’s base-layer capacity and would represent a very different Ethereum L1 if it can be achieved safely. But the wording matters: this is a roadmap and testing target, not a guarantee that every detail is locked for mainnet exactly as discussed in current devnet materials.
Ethereum upgrades usually move through a long process of specification, client implementation, devnets, testnets and final coordination. That process is slow by design. Glamsterdam is important because it shows the network is still trying to scale the base layer itself, not only pushing activity to rollups. The risk is that aggressive capacity increases without careful client and node work could weaken the decentralization properties Ethereum is trying to protect.
This article was written by the News Desk and edited by Samuel Rae.
Ethereum gas fees rank among the most discussed aspects of the network, yet users often misunderstand them. Network demand plays a major role, but several technical mechanisms work together to set the final cost of any transaction.
Gas fees exist because every action on Ethereum consumes computational resources. When a user sends ETH, swaps tokens on a decentralized exchange, mints an NFT, or interacts with a smart contract, validators must process and verify that activity. Gas fees compensate those validators for securing the network, and they deter spam and abuse.
Understanding what drives these costs means examining Ethereum’s fee structure, transaction complexity, block space demand, and the protocol upgrades of the past two years.
Ethereum’s Gas Model and the Base Fee Mechanism Gas measures the computational work required to execute an operation on Ethereum, and every transaction consumes a set amount depending on what it does. Since the EIP-1559 upgrade went live in August 2021, Ethereum has run a dual-fee system built on a base fee and a priority fee.
The protocol sets the base fee automatically, adjusting it according to network congestion, then burns it rather than paying it to validators. Burning the base fee removes ETH from circulation and makes fee estimation more predictable. The priority fee, or tip, goes directly to validators. Users raise this amount to encourage faster inclusion, especially when demand spikes.
The network calculates the total fee as gas used multiplied by the sum of the base fee and the priority fee. As blocks fill up, the protocol raises the base fee, and when demand falls, it lowers the base fee. This automatic adjustment lets Ethereum respond to changing conditions without forcing users to guess the right amount.
Competition for Block Space Drives Most Fee Spikes Competition for limited block space remains the single largest influence on Ethereum gas fees. Each block currently targets around 30 million gas and can expand toward a 60 million gas limit, a ceiling validators raised in late 2025 and one they can lift further through signaling. Because that capacity stays finite, users compete for inclusion whenever activity surges.
Demand tends to spike during major market rallies, large token launches, NFT mints, memecoin speculation, DeFi liquidation cascades, and heavy decentralized exchange trading. When thousands of users submit transactions at once, validators prioritize the ones offering higher fees. That bidding war pushes both priority fees and base fees upward.
A simple ETH transfer stays cheap during quiet periods, yet the same transfer can cost far more during intense activity as users raise their tips to jump the queue. Fees climb sharply even when the transaction type never changes.
Transaction Complexity Changes How Much Gas You Burn Ethereum transactions do not all consume the same amount of gas. A standard ETH transfer needs 21,000 gas units, one of the simplest operations on the network, while smart contract interactions demand far more computational work. Token swaps, lending and borrowing, yield farming, NFT minting, governance voting, and cross-chain bridge interactions all fall into the heavier category.
Every smart contract holds code that Ethereum Virtual Machine nodes must execute, and each instruction carries a predefined gas cost. A transaction that touches multiple contracts can trigger many calculations, storage updates, and state changes, and the more operations involved, the more gas it consumes. Two transactions sent at the same moment can therefore cost very different amounts. Even at an identical gas price, the transaction that burns more gas units carries the higher total fee, so application complexity often matters as much as congestion.
Layer 2 Activity, Blob Space, and Recent Scaling Upgrades Ethereum’s fee market has shifted as Layer 2 networks such as Arbitrum, Optimism, and Base have grown. These networks process transactions off-chain, then publish compressed data back to Ethereum, which turned them into major consumers of block space. The Dencun upgrade changed that dynamic in March 2024. It introduced proto-danksharding through EIP-4844 and created a new storage mechanism called blobs, a dedicated market for Layer 2 data that sits separate from execution gas. Blobs let rollups post data far more cheaply and pushed fees down across the scaling ecosystem.
Two further upgrades extended the trend. Pectra arrived in May 2025, doubling blob capacity and raising the gas limit. Fusaka followed in December 2025, introducing PeerDAS through EIP-7594 so validators verify blob data by sampling small portions rather than downloading every blob. Fusaka also lifted the gas limit toward 60 million and added blob-parameter-only forks that keep raising blob capacity without a full hard fork. These changes cut Layer 2 costs again, though blob demand still fluctuates, and competition for blob space may grow into a larger force in Ethereum’s fee economy as rollup activity climbs.
Conclusion A mix of factors sets Ethereum gas fees rather than any single variable. The base fee mechanism tracks congestion, priority fees let users accelerate inclusion, competition for block space drives the sharpest spikes, and transaction complexity decides how much gas each operation burns. EIP-1559, Dencun, Pectra, and Fusaka have made the fee market more efficient and predictable, while Layer 2 networks continue to lower costs for everyday users.
Frequently Asked Questions (FAQs) Why are Ethereum gas fees so high sometimes?
When many users compete for limited block space during rallies, token launches, or NFT mints, they bid up priority fees, and the protocol raises the base fee in response.
What is the difference between the base fee and the priority fee?
The base fee is a mandatory, protocol-set amount that Ethereum burns, while the priority fee is an optional tip paid directly to validators to speed up inclusion.
Why does an ETH transfer cost less than a token swap?
A transfer uses 21,000 gas, but a swap executes more smart contract code, consuming more gas and producing a higher total fee.
Did the Dencun and Fusaka upgrades lower gas fees?
They mainly reduced Layer 2 costs by creating and expanding blob space, while base-layer Ethereum fees still depend on execution demand.
Can I avoid high gas fees?
Transacting during quieter periods, moving activity onto Layer 2 networks, or setting a lower priority fee when speed is not urgent all reduce costs.
Key Takeaways Crude oil declined more than 1% Wednesday following diplomatic progress between Washington and Tehran and increased maritime activity in Hormuz Vessel transits through the strategic waterway increased nearly threefold in seven days, from 32 to 93 crossings The nationwide average for gasoline stands at $3.93 per gallon—down from $4.02 seven days earlier but approximately $1 higher than pre-conflict rates The president publicly blamed petroleum companies for exploiting consumers and directed federal prosecutors to examine industry practices Financial analysts at Macquarie reduced their 2026 WTI projection to $77 per barrel from an earlier estimate of $89 President Trump has escalated his rhetoric against major oil producers, warning them to accelerate fuel price reductions or face potential Department of Justice scrutiny for alleged consumer exploitation.
🇺🇸 Trump to Big Oil: Drop your prices NOW or you're f*ked!!
Fed up with gas prices still being sky high, and killing him in the polls, Trump's ordered the DOJ to investigate
He says the price Big Oil is paying for crude is dropping like a rock while the price at the pump isn't… pic.twitter.com/M8ghQtmSEW
— Mario Nawfal (@MarioNawfal) June 24, 2026
In an early-morning post on Truth Social, the commander-in-chief expressed frustration that declining crude costs aren’t being reflected quickly enough at filling stations across America.
“Gasoline prices better start going down a lot faster than what I’m seeing,” the president declared.
Pump Prices Declining Gradually AAA data shows the nationwide average for regular unleaded reached $3.93 per gallon on Wednesday. This represents a decline from $4.02 recorded the previous week and significantly below the $4.50 peak reached last month during Iran’s closure of the Strait of Hormuz, which sent crude futures soaring.
Consumers saw relief last Thursday when prices dropped beneath the $4 threshold for the first time since late March. Nevertheless, current rates remain roughly one dollar above pre-war baseline figures.
Trump has consistently pledged that motorists would see substantial savings following the conclusion of hostilities. An interim diplomatic agreement was finalized last week.
Whether federal prosecutors have officially launched an investigation or identified specific companies for examination remains uncertain.
Energy Markets React to Hormuz Reopening Global oil prices extended their retreat Wednesday. Brent crude futures declined over 1.8% to settle at $75.65 per barrel. West Texas Intermediate decreased 1.2% to $72.31 per barrel.
Tuesday marked Brent’s lowest settlement since before military confrontations with Iran commenced.
The downturn follows dramatic improvements in shipping activity through the Strait of Hormuz, a critical chokepoint that typically facilitates roughly one-fifth of worldwide petroleum transport.
Maritime data provider Kpler reported that total vessel movements through the strategic passage climbed from 32 during the June 12–14 period to 93 between June 19–21.
Tehran announced last week that unrestricted passage through the strait would resume without tolls as part of the diplomatic settlement. The arrangement also permits Iran to resume international oil sales without sanctions.
Market Forecasters Adjust Expectations Downward Macquarie’s research team revised its average WTI projection for 2026 downward to $77 per barrel from $89.
Strategist Peter Taylor suggested the petroleum market could stabilize more rapidly than conventional wisdom suggests now that Hormuz restrictions have been lifted.
Taylor noted that alternative supply routes established during the crisis may have enhanced the global distribution network’s resilience and adaptability.
Last month, GasBuddy’s petroleum analysis director indicated that while Hormuz’s reopening would trigger immediate price adjustments, retail gasoline might not return to pre-conflict levels for several months.
Bloomberg energy columnist Javier Blas commented on the president’s social media statement, suggesting Trump had “just discovered the refining and marketing margin.”
Prom, a zkEVM L2 solution, has recently announced its latest collaboration. As per the company it has started a strategic partnership with Automata Network in an endeavor to make advancements in the wider blockchain technology. The collaboration focuses on upgrading the infrastructure of Prom while attempting to provide a comparatively effective framework.
Prom Partners Up with @AutomataNetwork
Welcome Automata Network, a modular attestation layer that extends machine-level trust to Ethereum.
The partnership fosters the upgrade of Prom's infrastructure, offering a more efficient framework.
Dive deeper👇… pic.twitter.com/LYgAM1jCQ0
— Prom (@prom_io) March 18, 2024 Prom and Automata Network Start a Strategic Partnership to Start Blockchain Innovation The respective partnership additionally widens the firm’s series of developer instruments for the developers. The respective tools would permit the developers to develop on the Prom’s top with convenience. The L2 solution of Prom leverages the ZK stack, which is a technology that emerges as a frontrunner in security.
It ensures complete data privacy throughout the transfers. While discussing this endeavor, Prom asserted that it provides significant attention to trust in each of its Web3 solutions. Particularly, it discussed the L2 products as they can provide scalability while sustaining the settlement layer’s security level. In this regard, Automata plays a crucial role by benefiting from confirmable on-chain attestations. Proof of Machinehood takes the credit of supporting them.
Automata provides a solution to the matter of Sybil and bot attacks. In this respect, it validates the legitimacy of a device that communicates with the blockchain. After the establishment of trust on the hardware scale, it can extend across blockchain ecosystems including Ethereum. Solutions that Automata provides fit locally with Web3 apps and offer an immutable Web3 trust chain.
The Collaboration Will Introduce Tools Supporting Testnet and Mainnet Launch In addition to this, the platform provided details about the potential targets of the collaboration. In this respect, it revealed that the collaboration has already paved the way for a few cutting-edge instruments for testnet. These tools additionally provide support for the impending mainnet launch to improve the consumer experience while highly focusing on security.
This displays the integration of ZK technology’s potential with the solutions of Automata for a more secure and better blockchain ecosystem. Prom’s modular ZkEVM L2 solution provides interoperability across diverse chains. They take into account both EVM as well a non-EVM compatible networks.
The platform provides the proof of transfers to the other chains on the selected Settlement chain’s top. This creates a bridge between the diverse ecosystems. While pointing out the latest prospect, Prom expressed optimism. It noted that this would lead to other exclusive possibilities related to the ZK technology.
AUTHOR
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.
1RPC, a prominent Web3 relay service by Automata Network, has recently announced its support for Axelar. It is a cutting-edge programmable Web3 interoperability platform. This development marks a significant milestone in the Web3 world. It expands the number of supported networks on the 1RPC Web3 relay to a total of 55. An innovative platform from Axelar supports the next generation of web apps, allowing billions of people to use them.
1RPC Enables API Key Creation for Axelar Users to Personalize Web3 Experience Users can now connect to an Axelar mainnet-only public endpoint since 1RPC now supports it. Users can use the Web3 relay with one click, and this seamless integration makes connecting to 1RPC on Axelar easier. The Axelar 1RPC URL can be found by searching “Axelar.” in the 1RPC dashboard. They can use the full Web3 relay on the Axelar network by adding this URL to their wallet settings.
1RPC allows users connect to the Axelar mainnet and create API keys using their wallet credentials. This personalized approach enables users customize their Web3 relay experience. 1RPC’s Plus plans offer higher rate limits and testnet support, giving users more flexibility.
1RPC’s Web3 relay has great security features like phishing-preventing transaction sanitizers. These transaction sanitizers protect Web3 users from phishing, scams, and fraud. 1RPC blocks suspicious transactions to protect Web3’s integrity. This ensures a smooth and safe user experience.
Axelar Foundation Backs 1RPC-Axelar Collaboration for Web3 Interoperability The non-profit Axelar Foundation, which encourages the network’s adoption and growth, supports the 1RPC-Axelar partnership. Using its decentralized interoperability network, Axelar aims to connect many blockchain ecosystems and make platform collaboration easy. 1RPC is working with Axelar to improve Web3 interoperability and scalability to help the decentralized web grow and mature. Additionally, 1RPC supports Axelar, a modular attestation layer that increases Ethereum trust.
As the Web3 ecosystem grows and changes, security and interoperability are crucial for innovation and adoption. 1RPC helps shape the decentralized web by making it easy to connect to multiple blockchain networks and implementing strong security measures. 1RPC leads the Web3 revolution by focusing on quality and innovation. In this way, it makes it easy and safe for users to participate in the decentralized economy.
AUTHOR
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.
Automata Network, a leading provider of innovative blockchain solutions, has joined forces with Babylon to advance Trusted Execution Environments (TEEs) research. Through this partnership, Automata wants to bolster multi-prover security using staked *BTC*. TEEs are specialized hardware capable of isolating code and data. TEEs ensure privacy and verifiability even in decentralized systems.
Automata Network’s Collaboration with Babylon’s Bitcoin Staking Protocol Babylon is known for its trustless and self-custodial staking protocol for Bitcoin. It aims to create a Bitcoin-secured decentralized world. Their latest protocol enables the staking of idle Bitcoins without sending them to third-party addresses, enhancing security and earning PoS rewards.
In response to the growing interest in zero-knowledge rollups within the blockchain community, Automata has developed a multi-prover system with Scroll. This system, leveraging Intel SGX, ensures only correct proofs are accepted, maintaining decentralized systems’ integrity.
By integrating Babylon’s Bitcoin staking mechanism into the multi-prover infrastructure, Automata adds a layer of cryptoeconomic security. This discourages potential attackers and incentivizes honest behavior among prover operators.
Automata and Babylon Join Forces to Unlock Enhanced Blockchain Security The collaboration between Automata and Babylon sets the stage for reducing trust assumptions and maximizing security across the blockchain ecosystem. It combines the integrity-enforcing capabilities of TEEs with Bitcoin staking’s robust economic security.
Furthermore, the partnership aims to further TEE research in the Web3 space. Automata and leading projects like Flashbots and Microsoft Azure are exploring the transformative potential of TEEs to enhance blockchain security and integrity.
Automata Network’s Proof of Machinehood approach extends machine-level trust to Ethereum using optimistic rollups and zero-knowledge proofs. Their application-specific rollup ensures on-chain verification for out-of-protocol computation. In this way it establishes a seamless chain of trust throughout the Web3 stack. By collaborating with Babylon and other industry leaders, Automata demonstrates its commitment to pushing the boundaries of TEE technology.
AUTHOR
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.
Automata Network, a platform that provides private web facilities to dApps, has recently announced an exclusive development. The company has disclosed the launch of Horizen EON, an EVM-compatible sidechain that runs a smart contract forum focusing on scalability, on 1RPC. 1RPC operates as a Web3 relay that intends to safeguard the privacy of the consumers.
EON Launches on 1RPC, Says Automata Network The company disclosed the development in a recent blog post. The firm mentioned that 1RPC shields the metadata of the consumers from any leakage and exposure. In addition to this, the company has revealed that 1RPC has effectively relayed more than twenty billion requests up till now. The consumers just need to follow three simple steps to utilize the Horizen 1RPC endpoint.
In this respect, the initial move is to go to the search bar of the dashboard and type “Horizen EON” there. The next step is to click the Wallet icon concerning Horizen EON. Following that, the consumer needs to authorize the wallet message. As a result of this, the user can start utilizing the Horizen 1RPC endpoint. For consumers looking for additional granular control as well as more customization, 1RPC Plus provides more features.
The Launch Offers Cutting-Edge Functionalities to the Users For this purpose, it includes cutting-edge anti-phishing functionalities like transfer sanitizers. The respective things prevent likely suspicious or malicious transfers before they take place. This would be assistive in properly safeguarding the funds of the users.
Automata Network works as a layer for modular attestation. It broadens machine trust in the Ethereum network with the help of TEE Coprocessors. By using Proof-of-Machinehood, a worldwide decentralized machine attestation network assists rollups to realize an Ethereum-aligned future. EigenLayer-based TEE AVS are secured under hardware root-of-trust as well as cryptoeconomic security.
AUTHOR
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.
Automata Network, a well-known forum offering private web facilities to Web3-based dApps, has recently announced an exclusive development. As per the company, it has joined forces with Puffer Finance (a restaking instrument that streamlines liquid restaking procedure) to operate on Secure Signer. The company took to X to reveal the news of this collaboration.
Very happy to be working with @puffer_finance on Secure-Signer to protect staking workflows using secure hardware ✧
Secure-Signer leverages Trusted Execution Environments (TEEs) and is the recipient of an @ethereum foundation grant.
Tap in ↓https://t.co/Ne5uefiiL6
— Automata Network (@AutomataNetwork) May 27, 2024 Automata and Puffer Collaborate for a Joint Work on SGX-Based Secure-Signer In addition to the announcement on the social media platform, the firm also published a blog post on its website. It noted in its blog post that the platform will contribute to the Secure-Signer and further its development. Puffer is reportedly providing grant support for the respective project. According to Automata, Puffer operates as a remote signing anti-slashing tool. It reportedly leverages Trusted Execution Environments (TEEs).
Apart from that, it also works as an Ethereum Foundation Grant recipient. Automata pointed out that Secure-Signer presently operates in a secure enclave Intel SGX that leverages Remote Attestation Verification smart contracts. The project uses them to remotely verify the SGX attestations on the chain. As the reports reveal, Intel has a strategy to censure Enhanced Privacy ID by next year’s start.
Following that, it will base the next attestation workflows on Data Center Attestation Primitives. In the case of DCAP attestations, Automata has reportedly open-sourced a verifier on Solidity. Solidity runs as a resilient programming language that the developers use to build dApps for the biggest developer ecosystems. Validators take part in a protocol’s coordination and consensus.
Validators Can Operate Multiple Nodes with One Key to Avoid Downtime Penalties Additionally, they mainly deal with signing just non-slashable messages and the optimization of uptime. Keeping that in view, if a validator infringes the network rules, the platform can pose a financial penalty for that. Hence, the validators looking to evade downtime penalties can operate multiple nodes while using the same key. The platform assured that it would keep on working in close collaboration with the team behind Puffer.
In this way, it will reportedly contribute to enriching development and work on Secure-Signer. Along with that, it added that Puffer has additionally secured the Multi-Prover AVS of Automata with above 18,000 $ETH tokens that are restaked. In this respect, the AVS of Automata lies among the earliest onboarded projects on the liquid restaking forum.
AUTHOR
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.
