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8 May 2026, 11:29

Tether freezes over 514 million USDT in 30 days

🛑 Tether froze over $514 million in USDT linked to suspicious transactions in the past 30 days. Most of these frozen funds were held in $USDT on the Tron blockchain. Continue Reading: Tether freezes over 514 million USDT in 30 days The post Tether freezes over 514 million USDT in 30 days appeared first on COINTURK NEWS .

8 May 2026, 10:15

Bithumb to Halt XEC Deposits and Withdrawals for Network Upgrade on May 15

BitcoinWorld Bithumb to Halt XEC Deposits and Withdrawals for Network Upgrade on May 15 Bithumb, one of South Korea’s largest cryptocurrency exchanges, has announced a temporary suspension of deposits and withdrawals for eCash (XEC) starting at 8:00 a.m. UTC on May 15. The halt is scheduled to support an upcoming network upgrade for the eCash blockchain. Details of the Suspension According to the official notice from Bithumb, the suspension will affect all XEC deposit and withdrawal services. The exchange has not yet specified the exact duration of the downtime, but such network upgrade-related halts typically last between a few hours to a full day, depending on the complexity of the upgrade and network stability. Users are advised to complete any pending XEC transactions before the cutoff time to avoid delays. What Is eCash (XEC)? eCash, formerly known as Bitcoin Cash ABC, is a cryptocurrency that emerged from a hard fork of the Bitcoin Cash network. It aims to provide fast, low-cost transactions and is built on a proof-of-work consensus mechanism. Network upgrades are routine events for blockchain projects, often introducing new features, security enhancements, or protocol improvements. The specific changes planned for this upgrade have not been detailed by the eCash development team as of press time. Implications for Traders and Holders For XEC holders on Bithumb, the suspension means that during the halt period, they will not be able to move their tokens off the exchange or deposit new ones. Trading of XEC on Bithumb’s spot market is expected to continue unaffected, as the suspension only applies to on-chain transfers. However, users who rely on arbitrage or quick withdrawals should plan accordingly. The announcement underscores the importance of staying informed about exchange maintenance schedules, especially during active trading periods. Bithumb’s Recent History of Network Support Bithumb has a track record of supporting blockchain network upgrades across multiple assets. In the past year, the exchange has similarly suspended services for other cryptocurrencies during scheduled hard forks and protocol updates. This practice is standard among major exchanges to ensure network stability and protect user funds during transitional periods. Conclusion The temporary suspension of XEC deposits and withdrawals on Bithumb is a routine operational measure tied to an eCash network upgrade. While the halt may cause minor inconvenience for some users, it reflects standard industry protocol for maintaining network integrity. Bithumb is expected to announce the resumption of services once the upgrade is successfully completed and the network is deemed stable. Users should monitor Bithumb’s official announcements for the latest updates. FAQs Q1: Will my XEC funds be safe during the suspension? Yes. Your XEC holdings on Bithumb will remain secure and accessible for trading during the suspension. Only deposits and withdrawals are affected. Q2: How long will the suspension last? Bithumb has not specified an exact duration. Typically, such halts last from a few hours to up to 24 hours, depending on the upgrade’s completion and network confirmation. Q3: Can I still trade XEC on Bithumb during the halt? Yes. The suspension applies only to deposits and withdrawals. Spot trading of XEC is expected to continue as normal. This post Bithumb to Halt XEC Deposits and Withdrawals for Network Upgrade on May 15 first appeared on BitcoinWorld .

8 May 2026, 10:13

Coinbase Prime receives seized crypto from US cocaine laundering case

The United States federal government made an on-chain payment worth $34,800 of confiscated crypto assets in the form of 2,466 UNI, 152,925 CRO, and 1,589 LINK into Coinbase Prime. These crypto assets were confiscated from Brian Krewson, an Oracle technician. The transaction happened approximately at 7:15 GMT. As of now, there is no market disruption due to the size of the transaction and the fact that they are altcoins. According to reports, Brian was part of a crypto money laundering scheme worth $54 million involving cocaine traffickers. He was employed by Oracle from 2015 to 2023. Krewson also moonlights as an entertainment performer who goes by the stage name “Mr. Poto.” Arkham Intelligence sheds light on USG’s massive crypto portfolio The Arkham Intelligence public explorer for the USG entity displays an overview of 610 wallet addresses with a total value of $27.06 billion as of May 8, 2026, down 0.9% from the previous period. The biggest share of the portfolio is Bitcoin (BTC) with 328,361 units worth roughly $26.64 billion. In addition, Ethereum accounts for 62,756 tokens worth $146.47 million, followed by stablecoins and wrapped coins, such as USDT at $126.22 million and WBTC at $60.75 million. US government’s crypto holdings. Source: Arkham Intelligence. Today’s move is not an isolated event. According to historical data on Arkham, the US government’s crypto wallets typically transfer seized tokens to Coinbase Prime before an auction or OTC sale. Recent activity tabs show a pattern of asset consolidation. Various seized asset tags, associated with names like Glenn Olivio and Ross Ulbricht, have seen similar transfers to Coinbase Prime addresses in the last few weeks. Who is Brian Krewson? The Oracle technician turned crypto launderer In 2023, the DOJ stated that Krewson facilitated laundering $54 million worth of digital currencies for Christopher Castelluzzo and Luke Atwell, both of whom were convicted for trafficking cocaine in 2018, generating $2.5 million to $3 million per month. Both Castelluzzo and Atwell were convicted in 2018 and given 21 and 19 years in jail, respectively. They got most of their money through blue sky market sales on the dark web. The evidence was recorded phone conversations between Krewson, Castelluzzo, and Atwell, discussing transferring the money to other countries such as Malta and the Bahamas. On one occasion, Krewson seemed concerned about protecting himself legally. Although he reassured those with him about wallet protection during the July 2022 raid of his Colorado Springs residence, Krewson later gave up the wallet passwords, and the crypto was moved into a DOJ wallet. When Krewson’s wallet was first seized in July 2022, the value of the ETH was estimated at about $31 million. However, it increased to over $54 million in early November 2023. No criminal charges were filed against Krewson. According to Krewson’s lawyer Steve Rodemer, since Krewson cooperated and provided all truthful information, “that chapter of his life is now closed.” Irish drug dealer’s “lost” Bitcoin fortune partially recovered Irish law enforcement gained access to the inactive wallet of notorious cannabis seller Clifton Collins, transferring 500 BTC estimated to be worth around $35 million. Collins is 55 years old. Born in Crumlin, a working-class suburb of Dublin, he was once a modest security guard and also an award-winning beekeeper. He expanded his cannabis cultivation business through rented lands in Ireland since around 2005. With money earned from his drug business, Collins invested in bitcoin, purchasing roughly 6,000 BTC between late 2011 and early 2012. At the time, the investment was worth just around $30,000. By early 2017, however, that amount grew to millions, even billions. Worried about cyber threats, Collins stored his cryptocurrencies across 12 wallets, each holding 500 BTC. The private keys were then written down on paper, which was kept within an aluminum lid of a fishing rod in County Galway. Clifton Collins: Lost Keys” wallet balance on Arkham . In a recent development, the “Clifton Collins: Lost Keys” wallet, as listed on Arkham Intelligence, suddenly became active. The 500 BTC were transferred in a single transaction to a mysterious wallet, which has since been further distributed across various wallets. One part has been moved to the Coinbase Prime wallet, indicating institutional custody of the funds. If you're reading this, you’re already ahead. Stay there with our newsletter .

8 May 2026, 10:08

KelpDAO Hack Fallout Pushes Another DeFi Protocol Toward Chainlink CCIP Migration

Bitcoin-focused DeFi platform Solv Protocol announced that it is fully migrating to the Chainlink Cross-Chain Interoperability Protocol (CCIP) as part of its updated security strategy for cross-chain transactions. The move will cover more than $700 million in Bitcoin-related assets across SolvBTC and xSolvBTC. Solv Ends LayerZero Bridging Support As part of the transition, Solv said it will discontinue LayerZero bridging support for SolvBTC and xSolvBTC on Corn, Berachain, Rootstock, and TAC. The platform explained that it is reducing risk exposure on its existing bridging stack and standardizing its infrastructure on Chainlink CCIP. Solv described cross-chain bridges as one of the highest-risk areas in decentralized finance, while noting that vulnerabilities in bridge infrastructure can create significant systemic risks for the sector. The platform also confirmed carrying out a complete updated review of available cross-chain interoperability solutions before selecting Chainlink CCIP. Commenting on the development, Chainlink Labs’ Chief Business Officer, Johann Eid, said, “We are proud to work with the Solv team and support their migration to Chainlink CCIP as the standardized way that their wrapped Bitcoin assets are securely transferred cross-chain. Solv’s migration to CCIP reflects a broader shift across the DeFi industry of leading protocols adopting Chainlink to deliver the highest level of security required to bring the next billion users onchain.” LayerZero Breach Fallout Deepens Solv Protocol’s decision to migrate its cross-chain infrastructure to Chainlink comes weeks after the massive April 18 exploit involving LayerZero-powered KelpDAO, which resulted in losses of roughly $292 million. The attacker, reportedly linked to North Korea’s Lazarus Group, allegedly exploited weaknesses tied to LayerZero’s infrastructure, according to KelpDAO’s public statements. The DeFi protocol pushed back against claims from LayerZero Labs that the breach stemmed from a configuration issue unique to KelpDAO. Instead, Kelp argued that the setup followed LayerZero’s official documentation and reflected a standard deployment model used by many applications across the ecosystem. Kelp further claimed that LayerZero’s DVN signed forged transactions worth more than $100 million before the protocol paused its contracts and stopped additional losses. LayerZero later acknowledged in its postmortem that attackers gained access to RPC endpoints connected to its DVN and compromised multiple nodes during what it described as an RPC spoofing attack. Following the exploit, KelpDAO announced plans to move away from LayerZero’s OFT standard and transition rsETH to Chainlink’s CCIP framework. The post KelpDAO Hack Fallout Pushes Another DeFi Protocol Toward Chainlink CCIP Migration appeared first on CryptoPotato .

8 May 2026, 09:45

Solana Just Overtook Ethereum in New Developer Signups — Biggest News Shift for Solana?

Solana now commands 23% of the global blockchain developer market share, up from 6% in 2020, a 45% year-over-year surge in active builders that no news would have predicted in 2022. This is bullish news for Solana. Ethereum’s share has fallen to 31%, dropping below 35% for the first time since 2022 and erasing nearly five decades’ worth of dominance in under four years. The story this data tells is structural: developer talent is consolidating around high-performance integrated chains, and the Layer 1 competitive landscape has fundamentally reset. Source: Syndica A new report from Syndica, tracking developer distribution across blockchain networks, confirms what the Ethereum ecosystem has been quietly absorbing for two years: its once-unassailable lead in builder mindshare is gone. Discover: The best crypto to diversify your portfolio with What the Developer Numbers Actually Show The Electric Capital Report framing this shift puts Ethereum’s 2020 baseline at 82% of all active blockchain developers. Today, that figure sits at 31%, a 51-percentage-point collapse over six years. Solana moved in the opposite direction across every measurable segment. Professional developers: from 5% to 20%. Hobbyist developers: Solana now leads with 28% versus Ethereum’s 24%. New developers onboarded in 2025: Solana attracted 4,100 versus Ethereum’s 3,700. Source: Syndica By its fifth year of existence, Solana’s cumulative developer count exceeded Ethereum’s fifth-year count by approximately 50%. That is not noise. That is a compounding trajectory. Among non-EVM networks, the SOL vs ETH comparison becomes even starker. Solana accounts for 60% of all weekly active developers in the non-EVM category, more than the next five competing chains combined. Base has emerged as a credible third-place contender with 14% overall share, but it operates on Ethereum’s rails, which means it contributes to Ethereum ecosystem fragmentation as much as it adds to it. The concentration of output within each network also reveals a structural difference. The top 1% of Ethereum developers produce 51% of the network’s total code. On Solana, the top 1% accounts for 31%. Solana’s developer base is more distributed, more active on weekends (17% of total work), and less dependent on a small cohort of high-output insiders to keep the ecosystem moving. Good news, Builders Are Choosing Solana over Ethereum The mechanism is not complicated. Solana processed 25.3 billion transactions in Q1 2026, 125 times Ethereum’s volume over the same period. When speed and cost efficiency are the primary variables for real-world financial applications, the math makes the decision. Ben Nadareski, CEO and cofounder of Solstice, a DeFi protocol built on Solana, stated the case plainly: “The transactions are happening on Solana. Activity moved to where the cost and speed make sense.” Ethereum’s pivot to a rollup-centric roadmap, the L2 dilution effect, has fragmented the developer experience across Base, Arbitrum, Optimism, and dozens of smaller chains. Each L2 requires context-switching, separate tooling, and divided liquidity. Solana’s monolithic, integrated architecture keeps talent and capital focused on a single execution environment. That is the integrated chain thesis, and the developer data confirms it is winning. The hobbyist layer is doing real work. As Nadareski put it : “The hobbyist layer ships vault wrappers, yield aggregators, leveraged loops, and UX layers around primitives like eUSX or USDC. The legos pile up.” Institutional tooling is maturing in parallel. “The custody side is integrating Solana faster than it integrated Ethereum five years ago because the institutional demand is louder and clearer,” Nadareski said. The Solana Foundation’s recent infrastructure partnerships are accelerating that institutional onboarding curve. Developer growth alone does not flip a network’s institutional posture – but developer growth at this velocity, combined with custody integration and transaction volume dominance, does. Discover: The best pre-launch toke n sales The post Solana Just Overtook Ethereum in New Developer Signups — Biggest News Shift for Solana? appeared first on Cryptonews .

8 May 2026, 09:13

Coinbase users locked out as outage stretches past five hours

Coinbase has been inaccessible for over five hours, citing cloud service problems. The trading and brokerage platform announced an unexpected outage, leading to liquidations and losses for users with open positions. Coinbase reported degraded performance, with its main site also going out at one point. According to the platform, the problems were due to overheating in one of its AWS cloud facilities. Coinbase experienced service disruptions due to increased temperatures in the affected Availability Zone (use1-az4) in the AWS US-EAST-1 Region. We will begin the process to re-enable trading on our markets shortly. All markets would be placed in “Cancel Only” mode before we… — Coinbase Support (@CoinbaseSupport) May 8, 2026 Users reported some orders were partially filled, or positions were liquidated without access to closing or selling. Later, the exchange managed to allow limited usage mode with ‘Cancel Only’ orders. Coinbase trading for BTC resumed after around six hours of total outages. | Source: Coinbase . As an immediate response, BTC fell to $79,333.53, following $366.83K in liquidations for the past hour, and $823.78K in the past four hours. Later, BTC resumed its rally as other markets took over during their most active hours. Coinbase lost over 35% of its trading volume in the past day, with $1.2B in total activity. BTC is heavily affected, as it makes up over a third of volumes on Coinbase . When will Coinbase reopen? Coinbase went through a period of degraded performance for over five hours. The latest update suggested trading may come back soon, with limited features at first. “ We will begin the process to re-enable trading on our markets shortly. All markets would be placed in “Cancel Only” mode before we move to re-enable trading,” announced Coinbase on its status page . During the outage, BTC trading stalled and users reported price disparities compared to other centralized exchanges. The recovery may take longer, as it depends on external factors. The delays also happened during a relatively volatile day for BTC, when the leading coin dipped below $80,000 once again. Coinbase is still the biggest US exchange, but has shown the risks of centralization and relying on external infrastructure. For now, AWS has not reported outages, but the problem revealed Coinbase may be reliant on a single physical destination for servers. The hard dependence of Coinbase on Amazon’s cloud service is seen as a major fault point, undermining the decentralized nature of crypto. Coinbase pressured by lowered crypto sentiment BTC trading on Coinbase has shown a lowered sentiment from US-based users. Since the end of April, BTC has mostly traded at a discount, with rare days of the typical Coinbase premium. As Cryptopolitan reported , the lowered sentiment coincided with a $394M net loss and missed earnings targets. Coinbase premiums weakened since the end of April, and most days saw BTC trading at a discount to other exchanges. | Source: CoinGlass . The generally slower crypto market may also be a factor behind the recent Coinbase layoffs. The co-founder and CEO of Coinbase sent out a message explaining the rationale behind the 14% layoffs. According to Armstrong, the layoffs were the results of a restructuring where fewer managers and higher AI usage made teams more agile. Armstrong also suggested some of the latest Coinbase code has been shipped by non-technical teams. Coinbase has turned into a hub for multiple activities, including institutional custody. However, previous data leak problems, frozen accounts, and lost access to funds have undermined trust in the platform. Your bank is using your money. You’re getting the scraps. Watch our free video on becoming your own bank