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19 May 2026, 09:02
Bnb sees 40 percent drop in TPS after quantum encryption
🚨 BNB tested quantum-secure encryption and saw its TPS drop by almost 40 percent. The switch made each $BNB transaction signature nearly 40 times larger. 🤯 Key point: Block sizes and network data swelled, slowing transaction times and exposing scaling issues. Continue Reading: Bnb sees 40 percent drop in TPS after quantum encryption The post Bnb sees 40 percent drop in TPS after quantum encryption appeared first on COINTURK NEWS .
19 May 2026, 08:42
Echo Protocol suffers $76 million exploit in eBTC minting attack on Monad
The Bitcoin-focused DeFi protocol suffered an attack whereby about 1,000 unauthorized eBTC $77 million were minted on the Monad blockchain
19 May 2026, 08:38
Echo Protocol exploit sparks alarm after $73M eBTC mint
The Bitcoin DeFi project Echo fell victim to an exploit on Monday. Blockchain security platform Lookonchain shows a hacker minted 1,000 eBTC ($76.64M) on Monad, and then collateralized 45 eBTC on Curvance to borrow 11.29 WBTC worth $867,700. The attacker later redirected the assets to Ethereum and converted them to native ETH while funneling 384 ETH into Tornado Cash. The attacker’s wallet still retains 955 eBTC of the fake supply, which the platform estimates is worth about $73.2 million. Blockchain firm OnChain Lens even confirmed: “The attacker still appears to control a significant amount of minted eBTC.” The incident comes as the DeFi sector continues to grapple with a rising wave of protocol breaches and private key compromises. Curvance says the exploit only affected Monad’s eBTC/WBTC market Monad and Curvance have both now publicly recognized the exploit. Monad Co-founder Keone Hon posted on X: We’re aware of an incident related to Echo Protocol’s eBTC on Monad, and security researchers are investigating. Keone Hon In another post, the founder noted they had lost about $816,000 to the exploit. Curvance also shared , “Out of an abundance of caution, the affected market has been paused while our team actively investigates the situation alongside ecosystem partners.” It also asserted that the attack was contained to Monad’s eBTC/WBTC market. Other Curvance pools and major cross-chain platforms, including Aave, Morpho, Spark, and Fluid, were untouched. Although it isn’t known exactly how the attacker managed to mint eBTC, experts suggested it could be due to a private key compromise, a deployment error, or a smart contract flaw. The attacker opted against a 1,000 eBTC DEX market dump to avoid the severe slippage caused by Monad’s shallow liquidity pool. Instead, they executed a lending-based extraction method, replicating the strategy used to siphon funds from Resolv and KelpDAO before. Have hackers been targeting more DeFi platforms? According to DeFiLlama, the DeFi space had already suffered 13 hacks this month before the Echo Protocol exploit. The Echo Protocol is also the third major decentralized finance platform to fall victim to an exploit in the last five days. As earlier reported by Cryptopolitan, THORChain was compromised on May 15, and hackers pocketed more than $10 million. THORChain suspended trading after the incident, reassuring users that only protocol-owned funds were affected. It acknowledged it “automatically detected abnormal behavior and halted signing activity,” which prevented more outbound transactions. Speaking on the attack, on-chain investigator ZachXBT said the exploiter targeted the platform across Bitcoin, Ethereum, BNB Chain, and Base. A subsequent exploit hit the Verus-Ethereum Bridge three days later, resulting in the loss of $11.58 million in digital assets. Security researchers at Blockaid traced the exploit to the wallet address “0x5aBb…D5777.” Blockchain security firm Peckshield also detailed that the exploiter made off with 103.6 tBTC, 1,625 ETH, and 147,000 USDC, later converting the assets into about 5,402 ETH. Another security firm reporting the attack, GoPlus, noted, “It is highly likely to be cross-chain message validation/signature forgery, withdrawal logic bypass, or access control flaw.” Meanwhile, the Verus team contended that it’s still investigating the incident. DeFi platforms have become a prime target for attackers in the last few years. DeFiLlama estimates that uninsured lending protocols have suffered $7.7 billion in exploit-related losses over the past 6 years. More than $600 million was lost to hacks this April, with Drift and KelpDAO taking major hits. More recently, Nexus Mutual’s Founder, Hugh Karp, even highlighted that many of the latest hacks were caused by operational failures, pointing to a mismatch between risk and insurance coverage. If you're reading this, you’re already ahead. Stay there with our newsletter .
19 May 2026, 08:02
SEC Pushes Tokenized Stocks: Wall Street’s Onchain Era Begins
Wall Street’s blockchain pivot just got regulatory rocket fuel. The U.S. Securities and Exchange Commission, or SEC, is preparing an “innovation exemption” that could allow trading platforms to offer digital versions of publicly traded stocks under a lighter regulatory structure. The proposal is expected as early as mid-May, according to Bloomberg Law. According to Bloomberg Law’s report, the SEC’s framework would let platforms trade blockchain-based versions of equities around the clock with faster settlement than traditional shares. The agency already approved Nasdaq’s proposal to trade tokenized stocks in March, covering Russell 1000 components and benchmark ETFs. SEC Might Open Door For Tokenized Stocks On DeFi The U.S. SEC may unveil an innovation exemption this week that could allow tokenized stocks to trade across DeFi platforms, according to Bloomberg. The proposal would reportedly let third parties issue blockchain based stock… pic.twitter.com/r1EbqC2UEV — BSCN (@BSCNews) May 19, 2026 NYSE’s equivalent proposal also cleared in April. The DTCC, which processes the bulk of U.S. securities, has announced limited production trades of tokenized assets beginning in July, with a broader rollout in October. SEC Chair Paul Atkins has explicitly signaled support for formal rulemaking covering onchain trading systems and blockchain settlement infrastructure, framing it as part of a sweeping “Project Crypto” initiative. The combined weight of institutional momentum from DTCC, Nasdaq, NYSE, and ICE points to a structural shift in how the $126 trillion global equity market settles and trades. Discover: The best crypto to diversify your portfolio with SEC Tokenized Stock Momentum Could Reprice Blockchain Infrastructure That regulatory clarity cuts both ways: it validates compliant onchain infrastructure while squeezing offshore synthetic structures. The winners in this environment are settlement rails, smart contract platforms, and Layer 2 networks capable of handling high-frequency, low-latency financial transactions at institutional scale. Crypto-native infrastructure tokens with real throughput, such as sub-second finality, programmable settlement, and deep liquidity, are the logical beneficiaries of a world where equities trade onchain 24/7, benefiting RWA tokens. TOKENIZED REAL WORLD ASSETS ARE GOING PARABOLIC $1.43B on-chain. Up 26% in 30 days. $3B in monthly transfer volume. SEC innovation exemption coming this week. DTCC live in July. NYSE and Nasdaq building on-chain settlement. The chart doesn't lie. RWAs are just getting… https://t.co/eFgt86aurx pic.twitter.com/lPptRxPMt6 — CryptosRus (@CryptosR_Us) May 19, 2026 The Senate’s advancing crypto market structure bill compounds the regulatory tailwind. Compliant infrastructure platforms could re-rate significantly as institutional volume migrates onchain through H2 2025. However, this could not always be a fast pump for the crypto market. The price is in a multi-year adoption curve; gains would be real but gradual. The data points to infrastructure, not specific synthetic equity tokens, as the cleaner trade. But tokens like Chainlink and Ondo could benefit. Discover: The best pre-launch token sales Bitcoin Hyper Targets Early-Mover Upside as Institutional Blockchain Demand Builds Infrastructure is the trade, but established L1 valuations already reflect significant institutional optimism. Early-stage infrastructure presales offer a different upside entirely. That’s the context for Bitcoin Hyper ($HYPER) , currently raising at $0.0136 per token with more than $32 million already committed. Hyper is the first Bitcoin Layer 2 with Solana Virtual Machine (SVM) integration, combining Bitcoin’s security and trust with throughput that, by design, targets performance faster than Solana itself. Hyper is a direct play on the programmable settlement infrastructure that tokenized securities markets will need and require. It has features like extremely low-latency Layer 2 processing, SVM-based smart contract execution, and a Decentralized Canonical Bridge for BTC transfers. Basically, it has the kind of stack that matters when institutions need fast, cheap, auditable settlement. Staking is now live with a high 35% APY reward . Over $32.7 million raised signals a serious early conviction. Research Bitcoin Hyper before the next price tier locks in. The post SEC Pushes Tokenized Stocks: Wall Street’s Onchain Era Begins appeared first on Cryptonews .
19 May 2026, 07:40
Echo Protocol Recovers Private Key After Hack, Burns 955 eBTC
BitcoinWorld Echo Protocol Recovers Private Key After Hack, Burns 955 eBTC Echo Protocol, a DeFi project built on the Monad (MON) blockchain, announced today that it has regained control of a compromised private key following a security breach. The incident, which occurred earlier this morning, involved the unauthorized minting of eBTC on the Monad network, resulting in a significant loss of funds. The project confirmed on X that, after working with ecosystem partners to restore access, the team burned the remaining 955 eBTC held by the attacker. Timeline of the Incident According to Echo Protocol’s official statement, a private key associated with eBTC on the Monad network was stolen this morning. The attacker exploited this access to mint unauthorized eBTC, draining funds from the protocol. Within hours, the team collaborated with security partners and network validators to revoke the attacker’s access and regain control of the key. As a containment measure, the 955 eBTC remaining in the attacker’s wallet were burned, effectively removing them from circulation. Security Analysis and Implications Blockchain security firm Beosin analyzed the incident and confirmed that the root cause was a private key leak. This type of vulnerability is particularly dangerous in DeFi protocols because it bypasses smart contract audits and directly targets administrative access. The incident underscores a growing concern in the crypto space: even well-audited protocols remain vulnerable if private key management is not secured through multi-signature schemes, hardware security modules, or decentralized governance. What This Means for Monad and DeFi Users Monad is a relatively new Layer-1 blockchain designed for high throughput and Ethereum compatibility. While the network itself was not compromised, the hack raises questions about the security practices of projects building on emerging chains. For users, the event is a reminder to verify whether protocols use multi-signature wallets, time-locks, or other safeguards for administrative keys. Echo Protocol has not yet announced whether affected users will be reimbursed, but the burning of the attacker’s eBTC suggests a focus on limiting further damage. Conclusion Echo Protocol’s swift response and collaboration with ecosystem partners prevented a larger disaster, but the incident highlights persistent security risks in DeFi. As the investigation continues, the community will be watching for a post-mortem report and any plans for compensating victims. For now, the burning of 955 eBTC marks a decisive step in containing the fallout from a private key compromise. FAQs Q1: What exactly happened in the Echo Protocol hack? A private key controlling eBTC on the Monad network was stolen, allowing an attacker to mint unauthorized eBTC and drain funds. Echo Protocol regained control and burned the remaining 955 eBTC. Q2: Was the Monad blockchain itself compromised? No. The vulnerability was at the protocol level due to a private key leak, not a flaw in the Monad blockchain itself. Q3: Will affected users be compensated? Echo Protocol has not yet announced a compensation plan. The team is focused on securing the protocol and investigating the incident. This post Echo Protocol Recovers Private Key After Hack, Burns 955 eBTC first appeared on BitcoinWorld .
19 May 2026, 07:00
South Korea’s KB Financial Completes Stablecoin Pilot As Lawmakers Press For Regulatory Framework
South Korea’s KB Financial has completed a Proof-of-Concept (PoC) for won-denominated stablecoin as lawmakers and experts push to advance the country’s digital asset framework. KB Stablecoin Pilot Cuts Fees, Speeds Transfers On Sunday, KB Financial Group, the parent company of South Korea’s largest bank, announced that it had completed a payment pilot for a won-denominated stablecoin, with electronic payments KG Inicis, Layer 1 blockchain platform Kaia, and digital asset solutions company OpenAsset as partners. According to local news reports, the PoC integrated the entire financial process into a single workflow, from the issuance of a won-pegged stablecoin to offline payments, merchant settlements, and international remittances. The project allows customers to continue using financial services as before, while the internal settlement system has been migrated to blockchain. Notably, the real-world payment model was deployed via offline kiosk transactions at a Hollys coffee shop. The system is engineered so that a consumer pays with a QR code without installing a digital wallet, and a blockchain smart contract is automatically executed at settlement. For international money transfer verification, the model involved converting a won-pegged stablecoin into a dollar-denominated stablecoin using Kaia’s on-chain liquidity, then routing the funds through a local partner in Vietnam to the recipient’s actual bank account. Unlike the traditional SWIFT method, the entire transfer process was completed within three minutes, and transaction fees were reduced by approximately 87% compared to previous methods, the report noted. A KB Financial Group official affirmed that the company will work to “provide digital financial services closely integrated into daily life that customers can tangibly experience by combining financial infrastructure—based on proven stability and trust—with blockchain technology.” The company also revealed that it plans to secure the necessary operational capabilities to launch its services immediately after South Korea’s digital asset legislation and regulations are established. Digital Asset Act Faces Delay Stablecoins have played a central role in the country’s digital transformation and dominated South Korea’s policy discussions over the past year. However, the long-awaited legislation set to address won-pegged token rules has been stalled for nearly six months. For context, the second phase of the Virtual Asset User Protection Act, known as the Digital Assets Act, was initially expected to pass before the end of 2025, but a disagreement between South Korea’s Financial Services Commission (FSC) and the Bank of Korea (BOK) has delayed the framework since December. The financial regulators have been unable to agree on the extent of banks’ role in the issuance of stablecoins, with the central bank pushing for a consortium of banks owning at least 51% of any issuer seeking approval in the country. The FSC, however, has raised concerns about the proposal, arguing that a majority stake for banks could reduce tech firms’ participation and limit market innovation. In April, lawmakers urged the National Assembly to prioritize stablecoin legislation and approve the Digital Asset Act, warning that while politicians argue over governance structures, the global market is moving forward. Similarly, Professor Ahn Soo-hyun of Hankuk University of Foreign Studies stated last week that while global financial leaders complete and revise crypto legislation, South Korea, which accounts for 10% of global digital asset transactions, “is falling behind.” At a Korea Chamber of Commerce and Industry forum on digital assets, multiple lawmakers, regulators, and experts discussed the state of South Korea’s stablecoin framework, with some participants calling it a “critical juncture” for the country’s efforts to regulate the sector. Meanwhile, Bank of Korea Deputy Governor Chang Cheong-soo stated, “I believe the won-pegged stablecoin could serve as a complementary and competitive payment method in future monetary systems, playing a role in virtual asset transactions and cross-border payments.”
