Verus Ethereum bridge drained of $11.5M in forged transfer exploit

The Verus Protocol Ethereum bridge has suffered an exploit that has allowed an attacker to siphon off more than $11.5 million in crypto assets through what security researchers described as a forged cross-chain transfer message.Verus Protocols Ethereum bridge lost more than $11.5 million after attackers reportedly used a forged cross chain transfer message.Blockchain security firms Blockaid, PeckShield, and ExVul linked the exploit to missing validation checks inside the bridge verification process.  According to onchain security platform Blockaid, the exploit was detected late Sunday after its monitoring systems flagged suspicious activity tied to the Verus-Ethereum bridge. Blockaid identified the attacker wallet as “0x5aBb…D5777” and said the stolen funds were initially moved into another address labeled “0x65C…C25F9.”  Data shared by blockchain security firm PeckShield showed that the drained assets included 103.6 tBTC, 1,625 ETH, and nearly 147,000 USDC. PeckShield later reported that the attacker swapped the stolen tokens into 5,402 ETH, valued at roughly $11.4 million based on current prices.  Hours before the exploit took place, PeckShield said the attackers wallet had received 1 ETH through crypto mixer Tornado Cash, a detail that often appears in attacks involving attempts to obscure transaction origins.  Further analysis from GoPlus Security indicated that the attacker first sent a low-value

05-18

Ethereum Price Tumbles Hard, Bears Tighten Grip On Market Momentum

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.  From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.  As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.  In addition to his roles in finance

05-18

Hacker Steals Over $11M From Verus-Ethereum Bridge

Despite the scale of the breach, Verus native token showed little immediate reaction following news of the exploit.  ;  }  function loadTrinityPlayer(targetWrapper, theme,extras=“”) {  cleanupPlayer(targetWrapper); // Always clean first ✅  targetWrapper.classList.add(‘played’);  // Create script  const scriptEl = document.createElement(“script”);  scriptEl.setAttribute(“fetchpriority”, “high”);  scriptEl.setAttribute(“charset”, “UTF-8”);  const scriptURL = new URL(`https://trinitymedia.ai/player/trinity/2900019254/?themeAppearance=${theme}${extras}`);  scriptURL.searchParams.set(“pageURL”, window.location.href1);  scriptEl.src = scriptURL.toString();  // Insert player  const placeholder = targetWrapper.querySelector(“.add-before-this”);  placeholder.parentNode.insertBefore(scriptEl, placeholder.nextSibling);  }  function getTheme() {  return document.body.classList.contains(“dark”) ? “dark” : “light”;  }  // Initial Load for Desktop  if (window.innerWidth 768) {  const desktopBtn = document.getElementById(“desktopPlayBtn”);  if (desktopBtn) {  desktopBtn.addEventListener(“click”, function () {  const desktopWrapper = document.querySelector(“.desktop-player-wrapper.trinity-player-iframe-wrapper”);  if (desktopWrapper) loadTrinityPlayer(desktopWrapper, getTheme(),  });  }  }  // Mobile Button Click  const mobileBtn = document.getElementById(“mobilePlayBtn”);  if (mobileBtn) {  mobileBtn.addEventListener(“click”, function () {  const mobileWrapper = document.querySelector(“.mobile-player-wrapper.trinity-player-iframe-wrapper”);  if (mobileWrapper) loadTrinityPlayer(mobileWrapper, getTheme(),  });  }  function reInitButton(container,html){  container.innerHTML = + html;  }  // Theme switcher  const destroyButton = document.getElementById(“checkbox”);  if (destroyButton) {  destroyButton.addEventListener(“click”, () = {  setTimeout(() = {  const theme = getTheme();  if (window.innerWidth 768) {  const desktopWrapper = document.querySelector(“.desktop-player-wrapper.trinity-player-iframe-wrapper”);  if(desktopWrapper.classList.contains(‘played’)){  loadTrinityPlayer(desktopWrapper, theme,  }else{  reInitButton(desktopWrapper,‘’)  const desktopBtn = document.getElementById(“desktopPlayBtn”);  if (desktopBtn) {  desktopBtn.addEventListener(“click”, function () {  const desktopWrapper = document.querySelector(“.desktop-player-wrapper.trinity-player-iframe-wrapper”);  if (desktopWrapper) loadTrinityPlayer(desktopWrapper,theme,‘  });  }  }  } else {  const mobileWrapper = document.querySelector(“.mobile-player-wrapper.trinity-player-iframe-wrapper”);  if(mobileWrapper.classList.contains(‘played’)){  loadTrinityPlayer(mobileWrapper, theme,  }else{  const mobileBtn = document.getElementById(“mobilePlayBtn”);  if (mobileBtn) {  mobileBtn.addEventListener(“click”, function () {  const mobileWrapper = document.querySelector(“.mobile-player-wrapper.trinity-player-iframe-wrapper”);  if (mobileWrapper) loadTrinityPlayer(mobileWrapper,theme,  });  }  }  }  }, 100);  });  }  })();  Hackers have reportedly drained $11.58 million from the Verus-Ethereum bridge.  According to alerts from various blockchain security platforms, the exploit hit one of Verus cross-chain bridge contracts and emptied reserves containing ETH, tBTC, and USDC.  How the Attack Worked  Two of the firms, CertiK and PeckShield, flagged suspicious activity from the bridge contract at

05-18

Italy’s Intesa Sanpaolo Expands Crypto Portfolio to $235M with XRP and Ethereum Additions

ITALYS BIGGEST BANK DOUBLED ITS CRYPTO EXPOSURE TO $235M  Intesa Sanpaolo, managing over €1 TRILLION in client assets, has reportedly increased its crypto exposure from roughly $100M from Q4 2025 to around $235M in Q1 2026.  The substantial increase stemmed primarily from enlarged Bitcoin ETF allocations. The institution boosted its positions in both the ARK 21Shares Bitcoin ETF and BlackRock iShares Bitcoin Trust. Additionally, it initiated its inaugural derivatives exposure within this sector by purchasing call options on the iShares Bitcoin Trust.  Ethereum and XRP Join Investment Mix  Intesa established its first Ethereum position by acquiring shares in BlackRock‘s iShares Staked Ethereum Trust. This strategic move represented the bank’s initial venture beyond Bitcoin-focused investment vehicles.  The institution simultaneously gained XRP exposure via the Grayscale XRP Trust. This holding carried an approximate valuation of $26 million. Intesa has not publicly clarified whether these assets serve exclusively for proprietary investment purposes or additionally support products marketed to institutional clients.  The integration of both Ether and XRP signals a broader diversification strategy for cryptocurrency holdings, while maintaining focus on regulated, exchange-traded instruments.  Dramatic Solana Position Reduction  Conversely, Intesa dramatically scaled back its Solana allocation. Holdings in the Bitwise Solana Staking ETF plummeted from 266,320 shares to a minimal 2,817 — representing

05-18

Versus-Ethereum Bridge Exploited: Analyzing Chain of Events

This week, there was a significant vulnerability in the Verus-Ethereum Bridge, with hackers stealing about $11.58 million in digital assets. As suspicious transactions transferred significant amounts of cryptocurrency from the bridge into wallets controlled by attackers, blockchain security companies promptly sounded the alarm.  Early exploit detection  The attack was discovered by Blockaids exploit detection system while it was still active, according to the security firm. The company claims that the hacker was able to take several assets out of the bridge and exchange them for Ethereum.  ETH/USDT Chart by TradingView  Later, PeckShield, a blockchain monitoring account, released a breakdown of the pilfered money. 103.6 tBTC, 1625 ETH, and approximately 147,000 USDC were reportedly taken from the bridge by the attacker. Following the theft, the assets were exchanged for roughly 5402.4 ETH, which, at the time of reporting, was worth roughly $11.4 million. The wallet with the address 0x65Cb…25F9 currently contains the pilfered ETH.  Bitcoin Crash Wipes Out $660 Million  XRP Volatility Ahead, Dogecoin (DOGE) Uptrend Continues, Is Toncoin (TON) Capable of Holding $2? Crypto Market Review  Not their first rodeo  Additionally, analysts found that about 14 hours prior to the exploit, the attackers address had been funded with 1 ETH via Tornado Cash. Transaction trails are frequently obscured

05-18

Tom Lee Flags Oil Surge as Key Driver of Ethereum Weakness

ETH 24-hours chartWhy Oil Could Hurt Crypto in the Short-Term?  Economists and market strategists point to several mechanisms through which rising oil can spill over into risk assets, including crypto. First, higher oil usually lifts headline inflation expectations, which can pressure real returns and prompt risk-off positioning across equities and speculative assets.  Second, an oil shock can dent growth prospects in energy-importing economies, eroding risk appetite and reducing liquidity available for higher-beta assets. Third, increasing energy costs can increase uncertainty and volatility, encouraging a rotation into perceived safer stores of value or cash.  Crypto markets are especially sensitive to shifts in macro risk sentiment. Unlike some assets with clearer cashflow profiles, many participants treat ETH and other cryptos as speculative exposures, so a wave of inflation fears or risk aversion can trigger outsized price moves. The recent inverse correlation Lee highlights, a negative 0.4 reading at its trough, indicates that over the measured window, oil upswings have coincided with ETH sell-offs. Correlations are window-dependent and can flip quickly, but the current reading signals a meaningful short-term relationship worth monitoring.  Short-Term Tactical Implications  For traders and risk managers, the important lesson is that short-term crypto strategies should factor in broader macro files like oil prices and

05-18

Verus-Ethereum bridge hack drains $11.58M - Why DeFi trust is eroding

As cross-chain infrastructure expanded across DeFi, bridge verification systems increasingly became concentrated points of systemic financial risk. Earlier multi-chain growth had already concentrated massive liquidity inside automated cross-chain settlement mechanisms.  That fragility became increasingly visible when attackers exploited a verification gap inside the Verus-Ethereum bridge, draining roughly $11.58 million.  Source: X  The bridge validated state roots and transaction hashes but did not confirm actual backing asset amounts during settlement verification. This flaw enabled attackers to create transactions for a low cost before gaining access to 1,625 ETH, 103.6 tBTC, and nearly 147,659 USDC in reserves.  The stolen assets were later swapped into roughly 5,402 ETH, reinforcing how rapidly attackers now recycle exploited liquidity across ecosystems. However, the incident also deepens broader concerns around incomplete bridge verification standards and growing interoperability risk concentration.  Verus exploit revives Wormhole and Nomad security parallels  The Verus exploit increasingly highlights how bridge security failures continue following the same structural weaknesses seen across earlier multi-chain attacks. Earlier incidents like Wormholes $326 million signature bypass had already exposed dangerous gaps inside cross-chain verification architecture.  That pattern resurfaced again once the Verus-Ethereum Bridge lost roughly $11.58 million through incomplete proof reconciliation checks. The attack also mirrored Nomads $190 million exploit, where improper root initialization enabled

05-18

Japanese Yen struggles despite retreating oil prices

USD/JPY continues its winning streak for the sixth consecutive day, trading around 158.90 during the European hours on Monday. The pair appreciates as Japanese energy importers are forced to sell massive amounts of Japanese Yen (JPY) to buy the US Dollars (USD) needed to pay their inflated energy bills amid higher oil prices. However, oil prices pare daily gains after reports that Iranian and Omani technical teams met last week in Oman to negotiate a mechanism for safe transit in the Strait of Hormuz.  Elevated oil prices intensified inflation concerns and strengthened expectations for a near-term rate hike by the Bank of Japan (BoJ), which could limit the downside of the JPY. Last week, Bank of Japan board member Kazuyuki Masu urged a swift interest rate hike, pointing to growing, persistent inflation risks driven by the ongoing war.  Japans Chief Cabinet Secretary, Seiji Kihara, stated that the administration is monitoring market movements, including long-term interest rates, with a very high sense of urgency. Despite the heightened vigilance, Kihara declined to comment on the possibility of government intervention in the foreign exchange markets.  However, the upside of the USD/JPY pair could be restrained as the US Dollar (USD) faces selling pressure on easing safe-haven

05-18

US Dollar: Fed pressure and bond sell-off – ING

INGs Chris Turner highlights that rising US Treasury yields and a bearish yield curve steepening are pressuring the Federal Reserve (Fed) to sound more hawkish, even without immediate hikes. He notes high Oil prices and higher yields are negative for risk assets but supportive for the Dollar. Turner flags US Dollar Index (DXY) resistance at 99.50 and support near 99.00 in the near term.  Fed rhetoric and yields support Dollar  “While UK politics may be blamed for a small part of the global bond market sell-off, the bigger story is 10-year US Treasury yields rising to their highest levels since early 2025. This followed a raft of higher-than-expected US inflation data last week, where final demand PPI rose at 6% year-on-year in April – levels we have not seen since early 2023. ”  “This kind of inflation is pressure-testing the Federal Reserve and swinging behind the three dissenters at the April FOMC meeting, against the implicit easing bias in the FOMC statement.”  “Looking at the bearish steepening in the bond market today, the narrative is one of the Fed potentially ‘falling behind the curve’ and the need to at least sound hawkish, even if it does not necessarily hike.”  “Wednesday‘s release of the FOMC minutes

05-18

Aave WETH borrowing recovery restores LTV across Aave V3

Aave WETH borrowing recovery entered a new phase on May 18, with the lending protocol restoring wrapped Ether borrowing across affected markets after advancing the rsETH recovery plan tied to the Kelp DAO exploit. For users who rely on Ether-backed leverage, the move marks a return to more normal conditions after weeks of emergency restrictions.  The change is more than a parameter update. It reopens a core part of DeFi lending markets that had been partially shut down after attackers used stolen rsETH as collateral to borrow WETH on Aave V3, triggering one of the more painful knock-on effects in recent months.  Now, with rsETH backing restored and withdrawals reopened, Aave has rolled back those WETH limits. As a result, several major markets are back on pre-incident footing, and traders, borrowers, and liquidity providers have a clearer signal that the protocols technical recovery is moving forward.  Aave restores WETH borrowing across affected markets  Aave restored WETH borrowing across affected markets after advancing the rsETH recovery plan. Just as importantly for active users, WETH loan-to-value ratios returned to pre-incident levels across multiple Aave V3 markets.  Aave founder Stani Kulechov said the reset applied across Aave V3 Ethereum Core, Ethereum Prime, Arbitrum, Base, Mantle, and Linea. In

05-18
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