Coinbase, Block, BitGo and dozens of other crypto firms signed a letter arguing that safety guardrails on frontier AI models are blocking legitimate security work while adversaries face no such limits.
Core Summary Cryptocurrency Ravencoin is considering rolling back four days of transactions after discovering a critical block validation flaw. The extreme measure highlights blockchain network vulnerability to underlying protocol issues. Event Overview According to CoinDesk, the Ravencoin network discovered a critical flaw affecting block validation. To prevent potential fund losses from exploitation, the development team proposed rolling back the blockchain to a state before the flaw was discovered, effectively reverting all transactions from the past four days. ...
Core Summary Cryptocurrency exchange Coinsbuy suffered a coordinated two-blockchain attack, losing approximately $8 million in assets. Security researchers say the attackers simultaneously targeted two different blockchains, demonstrating highly sophisticated attack techniques. Event Details According to CoinDesk, Coinsbuy exchange confirmed a security incident on August 10, with attackers exploiting smart contract vulnerabilities to launch simultaneous attacks on two different blockchains. Preliminary investigations show losses of approximately $8 million. Security teams are tracking fund flows and working with blockchain analytics firms to attempt to freeze stolen assets. Coinsbuy has suspended deposit and withdrawal services on the affected blockchains and stated it will fully compensate affected users. ...
Core Summary North Korea’s notorious hacking group Kimsuky has integrated artificial intelligence technology into its cyberattack toolkit, primarily targeting cryptocurrency exchanges and financial institutions, according to security researchers. This marks a significant escalation as state-sponsored hacking organizations begin leveraging AI to enhance attack efficiency. Event Details According to The Block, Kimsuky has traditionally been known for spear phishing and social engineering attacks, primarily targeting cryptocurrency-related intelligence and funds. Latest research shows the group now deploys AI-driven automated attack tools capable of more precisely identifying targets, generating phishing content, and evading detection. ...
According to CoinDesk, Bitcoin has topped the $65,000 mark. Key US inflation data will be released this week, with markets closely watching its impact on cryptocurrency trends.
Bitcoin spot ETFs recorded a massive $853 million single-day net inflow, with BlackRock’s iShares Bitcoin Trust (IBIT) capturing the lion’s share. This strong performance reflects sustained institutional confidence in Bitcoin and marks further integration of crypto assets into the traditional financial system.
Summary US nonfarm payrolls unexpectedly fell by 23,000 in July, far missing the forecast of 80,000 gain. Bitcoin surged past $65,000 following the data release as traders priced out a September Fed rate hike. Details According to The Block, Bitcoin rallied past $65,000 after the jobs data. Analysts note the weak employment figures significantly reduced the probability of a September Fed rate hike, driving capital into risk assets. Meanwhile, Bitcoin miners MARA and CleanSpark reported double-digit revenue drops as they continue pivoting to AI infrastructure. MARA’s net loss widened to $611.3 million while CleanSpark’s was $239.8 million. ...
Summary Prediction market platform Polymarket was found to have a critical price manipulation vulnerability: traders could exploit a five-second window to artificially push prices and extract millions in profits. After months of public warnings from onchain analysts, Polymarket is moving to implement time-weighted average prices. Details According to CoinDesk, the vulnerability stems from Polymarket’s pricing mechanism being too reliant on instantaneous prices, allowing attackers to profit by manipulating prices in extremely short time windows. Onchain security analysts discovered and publicly warned about this issue months ago, but the platform had not taken effective action until now. ...
Summary Russia’s Federal Security Service (FSB) announced a crackdown on unlicensed crypto exchanges allegedly linked to Ukraine, arresting at least 20 individuals connected to a network that scammed Russian citizens. The operation is the latest in Russia’s recent push to strengthen crypto regulation. Details According to CoinDesk, the FSB stated these unlicensed exchanges were suspected of providing fund transfer channels for Ukrainian interests while defrauding Russian citizens of crypto assets. Those arrested include exchange operators, technical staff, and money laundering intermediaries. ...
Core Summary Cryptocurrency exchange Bybit has filed a lawsuit against North Korea’s Lazarus Group hacking organization and the Democratic People’s Republic of Korea, seeking to recover approximately $1.5 billion in losses from an earlier hack this year. A court has granted a preliminary injunction freezing assets linked to the stolen funds, marking one of the largest legal recovery actions in crypto history. Event Details According to CoinDesk, Bybit suffered one of the largest hacks in crypto history earlier this year when attackers used sophisticated social engineering and technical methods to breach the exchange’s hot wallet system, stealing approximately $1.5 billion in crypto assets. After months of investigation, Bybit confirmed the attack was orchestrated by the North Korea state-sponsored Lazarus Group. ...