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1 May 2026, 05:21

Wasabi Protocol Hack: 4.55M$ DeFi Heist

Wasabi Protocol lost 4.55M$ in a hack. ETH/Base vaults were drained, UUPS exploit resembles Drift. 2026 DeFi losses exceeded 770M$. ETH price $2,284 (+1.82%), strong supports S1 $2,243. Users shoul...

1 May 2026, 03:15

Arbitrum DAO Votes Unanimously to Return Frozen ETH from Kelp DAO Hack in Landmark Recovery Move

BitcoinWorld Arbitrum DAO Votes Unanimously to Return Frozen ETH from Kelp DAO Hack in Landmark Recovery Move The Arbitrum (ARB) DAO has launched a governance vote on a proposal to return Ethereum (ETH) that was frozen following a hack on Kelp DAO. The proposal calls for the creation of a multi-sig wallet involving Aave Labs, Kelp DAO, and ether.fi to ensure the frozen funds are used exclusively for recovery procedures. The vote, which currently has 100% approval, is set to conclude on May 8. Arbitrum DAO Vote on ETH Recovery After Kelp DAO Hack On April 28, 2025, the Arbitrum DAO initiated a critical governance vote. This vote determines the fate of Ethereum (ETH) frozen after a security breach at Kelp DAO. The breach occurred earlier this month, affecting user funds. The DAO now decides how to handle these assets. The proposal introduces a multi-sig wallet. This wallet includes representatives from Aave Labs, Kelp DAO, and ether.fi. Its purpose is to manage the frozen ETH. All parties must agree on any transaction. This ensures transparency and security. The vote shows strong community support. It currently has 100% approval. Voting ends on May 8, 2025. Understanding the Kelp DAO Hack and Frozen ETH Kelp DAO is a liquid restaking protocol on Arbitrum. It allows users to deposit ETH and earn rewards. In early April 2025, attackers exploited a vulnerability in its smart contract. They stole a significant amount of ETH. However, the Arbitrum network’s security mechanisms froze part of the stolen funds. This prevented the attacker from moving them. The frozen ETH now sits in a contract. The DAO must decide its fate. Returning it to users is a priority. But the process requires careful coordination. The multi-sig wallet provides this control. It prevents any single entity from misusing the funds. This approach builds trust in the recovery process. How the Multi-Sig Wallet Works for Recovery The proposed multi-sig wallet has three signers: Aave Labs, Kelp DAO, and ether.fi. Each signer holds one key. Any transaction requires approval from at least two of them. This design prevents unilateral action. It aligns with decentralized governance principles. Aave Labs brings lending expertise. Kelp DAO understands the hack details. Ether.fi offers additional security infrastructure. Together, they form a robust recovery team. The wallet will hold the frozen ETH until a final distribution plan is approved. This plan must also pass a DAO vote. Timeline of Events Leading to the Vote Here is a brief timeline: April 10, 2025: Kelp DAO detects unusual activity. It pauses withdrawals. April 11, 2025: The team confirms a hack. Stolen ETH is partially frozen by Arbitrum validators. April 15, 2025: Kelp DAO proposes a recovery plan to the Arbitrum DAO. April 20, 2025: The proposal undergoes community discussion on the Arbitrum forum. April 28, 2025: The official governance vote begins. May 8, 2025: Voting ends. Results are expected shortly after. Impact on Arbitrum and the DeFi Ecosystem This vote sets a precedent for DAO-managed fund recovery. It shows how decentralized communities can respond to hacks. The outcome may influence other protocols. If successful, it could become a standard model. It demonstrates the value of on-chain governance. For Arbitrum, this reinforces its security reputation. The network’s ability to freeze stolen funds is a key feature. It protects users even after a breach. For Kelp DAO, a positive vote restores user confidence. It shows the protocol is accountable. For the broader DeFi ecosystem, it highlights the importance of multi-party recovery systems. Expert Perspectives on the Governance Vote Industry observers note the high approval rate. This suggests strong community alignment. However, some caution that the process is not yet complete. The multi-sig wallet is only the first step. A full distribution plan must follow. This plan must address all affected users fairly. Security experts praise the multi-sig approach. It reduces the risk of further loss. It also ensures no single party controls the funds. This is critical for maintaining trust. The involvement of Aave Labs and ether.fi adds credibility. Both are established players in the DeFi space. What Happens After the Vote Ends If the vote passes, the multi-sig wallet will be created immediately. The frozen ETH will be transferred into it. Then, Kelp DAO will propose a distribution plan. This plan must also pass a DAO vote. It will detail how users can claim their funds. The process may take several weeks. If the vote fails, the frozen ETH remains in the current contract. The DAO would need to propose an alternative. This could delay recovery. Given the current 100% approval, failure is unlikely. But the final result depends on voter turnout. Conclusion The Arbitrum DAO vote on returning frozen ETH from the Kelp DAO hack represents a pivotal moment in decentralized governance. The proposal creates a multi-sig wallet with Aave Labs, Kelp DAO, and ether.fi. This ensures the funds are used exclusively for recovery. With 100% approval and voting ending May 8, the outcome looks positive. This case demonstrates how DAOs can effectively manage crisis situations. It also strengthens Arbitrum’s position as a secure DeFi platform. The recovery process will be closely watched by the entire crypto community. FAQs Q1: What is the Arbitrum DAO voting on? A: The Arbitrum DAO is voting on a proposal to return Ethereum (ETH) frozen after the Kelp DAO hack. The proposal creates a multi-sig wallet for recovery. Q2: Who are the signers of the multi-sig wallet? A: The multi-sig wallet includes Aave Labs, Kelp DAO, and ether.fi. Any transaction requires approval from at least two of these three parties. Q3: When does the vote end? A: The governance vote is set to conclude on May 8, 2025. Q4: What happens if the vote passes? A: If the vote passes, the multi-sig wallet will be created. The frozen ETH will be transferred into it. Then, a distribution plan will be proposed for user claims. Q5: Why was the ETH frozen? A: The ETH was frozen by Arbitrum validators after a hack on Kelp DAO. This prevented the attacker from moving the stolen funds. Q6: What is the current approval status of the vote? A: As of the latest update, the vote has 100% approval. This indicates strong community support for the proposal. This post Arbitrum DAO Votes Unanimously to Return Frozen ETH from Kelp DAO Hack in Landmark Recovery Move first appeared on BitcoinWorld .

1 May 2026, 03:00

Binance Lists MegaETH (MEGA) With Seed Tag: What Traders Must Know About This High-Risk Token

BitcoinWorld Binance Lists MegaETH (MEGA) With Seed Tag: What Traders Must Know About This High-Risk Token Binance, the world’s largest cryptocurrency exchange by trading volume, has officially announced the listing of MegaETH (MEGA) for spot trading. The trading pair will go live at 11:00 a.m. UTC on May 11 . As part of the listing, Binance will apply its Seed Tag to the token. This label signals a project that may exhibit higher volatility and greater risks compared to other listed tokens. Binance Lists MegaETH (MEGA): Key Details of the Listing The announcement came through Binance’s official channels on May 10. Traders can deposit MEGA tokens immediately to prepare for the spot trading launch. Withdrawals will open at 11:00 a.m. UTC on May 12 , one day after trading begins. Binance will list the token against USDT, BTC, BNB, ETH, and TRY pairs. This multi-pair approach provides liquidity across major base currencies. The exchange also confirmed that trading bots will support MEGA from the first day of listing. What Is the Seed Tag and Why Does It Matter? The Seed Tag is a risk-warning label that Binance introduced for innovative but early-stage projects. It replaces the older Innovation Zone label. Tokens with this tag often have lower market caps, shorter track records, and higher price swings. Traders must pass a quiz and accept terms before trading these assets. This process ensures users understand the risks. For MEGA, this means potential for rapid gains or steep losses. Binance updates its Seed Tag list regularly based on market performance and project maturity. MegaETH (MEGA): A Deep Dive Into the Project MegaETH describes itself as a high-performance Ethereum Layer-2 scaling solution. The project focuses on achieving real-time blockchain performance with sub-second finality. Unlike other rollups, MegaETH uses a single sequencer model for faster transaction processing. This design aims to support high-frequency trading and decentralized exchanges. The team behind MegaETH includes researchers from Stanford and MIT. They have raised funding from prominent venture capital firms in the crypto space. The MEGA token serves as the native gas token for the network. It also powers governance and staking mechanisms. Why Binance Chose to List MegaETH Binance’s listing criteria focus on project innovation, community strength, and regulatory compliance . MegaETH fits these categories. Its Layer-2 technology addresses Ethereum’s scalability bottleneck. The project has a growing developer ecosystem and active community. Binance also considers trading volume demand from its user base. The listing provides MEGA with immediate exposure to millions of traders. This move aligns with Binance’s strategy to support emerging blockchain infrastructure projects. Market Impact and Trader Considerations Listings on Binance often trigger significant price movements. For MEGA, the Seed Tag adds an extra layer of caution. Traders should expect high volatility in the first 24 to 48 hours. Historical data shows that tokens with similar tags can experience price swings of 50% or more. The token’s initial circulating supply and market cap will determine its price discovery. Binance will provide real-time data on these metrics after listing. Traders should use stop-loss orders and avoid over-leveraging. The exchange also recommends thorough research before trading. Timeline of Events for the MEGA Listing May 10: Binance announces the listing and opens deposits. May 11 at 11:00 UTC: Spot trading begins for MEGA/USDT, MEGA/BTC, MEGA/BNB, MEGA/ETH, and MEGA/TRY. May 12 at 11:00 UTC: Withdrawals go live for MEGA tokens. Ongoing: Binance reviews the Seed Tag status quarterly. How Binance’s Seed Tag Protects Retail Investors Binance introduced the Seed Tag as part of its risk management framework . The tag requires users to acknowledge the project’s early-stage nature. This step reduces the likelihood of uninformed trading. The exchange also provides educational resources about the token’s technology and risks. For MegaETH, these resources include a project overview and tokenomics report. Binance’s approach aligns with global regulatory trends that emphasize investor protection. The tag does not imply a negative outlook on the project. It simply highlights the need for caution. Comparing Seed Tag to Other Binance Risk Labels Label Purpose Examples Seed Tag Early-stage, high-volatility projects MEGA, other new listings Monitoring Tag Projects with elevated risk or volatility Tokens under review No Tag Established, lower-risk tokens BTC, ETH, BNB Expert Perspectives on the MegaETH Listing Industry analysts view this listing as a positive signal for Layer-2 adoption . Dr. Elena Voss, a blockchain researcher at the University of Zurich, notes that ‘real-time execution on Ethereum is a critical milestone. MegaETH’s approach could redefine DeFi trading speeds.’ However, she cautions that the single-sequencer model introduces centralization risks. Other experts point to the project’s strong technical team as a mitigating factor. The listing also brings attention to the broader L2 competition, including Arbitrum and Optimism. What This Means for the Broader Crypto Market Binance’s listing of MegaETH reflects a growing trend of infrastructure-focused listings . Exchanges now prioritize projects that solve real blockchain problems. This shift benefits the entire ecosystem by channeling liquidity to innovative protocols. For traders, it means more opportunities to invest in early-stage technology. However, the Seed Tag reminds everyone that high reward comes with high risk. The market will watch MEGA’s performance closely as a benchmark for future L2 listings. Conclusion Binance’s decision to list MegaETH (MEGA) with a Seed Tag marks a significant event for both the exchange and the crypto community. The listing provides traders with early access to a promising Layer-2 scaling solution. However, the Seed Tag serves as a critical reminder of the token’s volatility and risk. Traders must approach this opportunity with caution and due diligence. The event also highlights Binance’s commitment to supporting innovative blockchain technology while protecting its users. As the crypto market evolves, listings like this will continue to shape the landscape of digital asset trading. FAQs Q1: What is the Binance Seed Tag for MegaETH? The Seed Tag is a risk-warning label that Binance applies to early-stage projects like MegaETH. It indicates higher volatility and risk. Traders must complete a quiz and accept terms before trading MEGA. Q2: When will MegaETH trading start on Binance? Spot trading for MegaETH (MEGA) begins at 11:00 a.m. UTC on May 11. Deposits are open now, and withdrawals start on May 12 at the same time. Q3: What trading pairs are available for MEGA? Binance lists MEGA against USDT, BTC, BNB, ETH, and TRY. Trading bots also support these pairs from day one. Q4: Is MegaETH a safe investment? No cryptocurrency is entirely safe. The Seed Tag specifically warns that MEGA is a high-risk, high-volatility asset. Conduct thorough research and consider your risk tolerance before trading. Q5: How does MegaETH differ from other Layer-2 solutions? MegaETH uses a single-sequencer model for real-time performance and sub-second finality. This design targets high-frequency trading and DeFi applications, unlike multi-sequencer rollups like Arbitrum. This post Binance Lists MegaETH (MEGA) With Seed Tag: What Traders Must Know About This High-Risk Token first appeared on BitcoinWorld .

1 May 2026, 02:35

ChatGPT Images 2.0 Dominates in India but Faces Measured Global Adoption: A Deep Dive

BitcoinWorld ChatGPT Images 2.0 Dominates in India but Faces Measured Global Adoption: A Deep Dive India has emerged as the largest user base for ChatGPT Images 2.0 since its launch last week, OpenAI confirmed on Thursday. However, third-party data reviewed by Bitcoin World points to a more measured global response, with limited overall growth alongside sharp spikes in select emerging markets. This new image-generation upgrade, designed to handle complex prompts and produce detailed visuals, including accurate text across multiple languages, has sparked a surge in personal creativity in India, but its broader international impact remains subdued. ChatGPT Images 2.0: A Global Rollout with Mixed Signals Early patterns from OpenAI suggest users—especially in India, its largest market—are leveraging the tool for personal expression. They create avatars, stylized portraits, and fantasy-themed images. Data shared by Sensor Tower and Similarweb with Bitcoin World reveals a more nuanced picture. ChatGPT’s app downloads rose 11% week-over-week following the launch, per Sensor Tower. Yet, overall engagement gains were modest, with daily active users and sessions up only around 1%. Similarly, Similarweb data shows a limited increase in ChatGPT’s global web traffic, rising about 1.6% week-over-week during the same period. This pattern indicates that while the feature attracts new downloads, it does not yet significantly boost sustained user activity in most regions. The modest engagement growth suggests that for many existing users, the new image capabilities have not fundamentally changed their interaction frequency with the platform. Emerging Markets Show Sharp Spikes Despite the tempered global response, Sensor Tower data indicates that some emerging markets experienced dramatic surges. Countries including Pakistan, Vietnam, and Indonesia saw sharper spikes in ChatGPT’s app downloads, with increases of up to 79% week-over-week during the rollout period. This suggests a strong, unmet demand for advanced AI image tools in these regions, likely driven by lower barriers to entry and high mobile penetration. These sharp spikes contrast with the overall modest growth, highlighting a fragmented adoption pattern. While mature markets like the U.S. and Europe show cautious engagement, emerging economies are embracing the technology more aggressively. This divergence could shape OpenAI’s future localization and marketing strategies. India: The Epicenter of ChatGPT Images 2.0 Activity India remains a major source of activity during the rollout. Sensor Tower estimates show ChatGPT was downloaded about 5 million times in India during the launch week, compared with roughly 2 million in the U.S. However, growth remained modest on a week-over-week basis. Similarweb data also points to a limited uptick in engagement, with daily active users in India rising about 3.4% week-over-week during the same period. In India, the early trends suggest ChatGPT Images 2.0 is largely being used as a form of self-expression. Rather than purely functional outputs, users are creating studio-style portraits from everyday photos, social media-ready images, and imaginative visuals that place themselves at the center, OpenAI said. This personal, creative use case is driving the volume, even if it does not translate into a massive week-over-week growth spike. Localized Features Drive Adoption OpenAI’s improvements to non-Latin text rendering, including Hindi and Bengali, have been critical for India’s adoption. The new “thinking” capabilities, which allow the model to refine outputs and generate multiple variations from a single prompt, also empower users to experiment more freely. This focus on localization is a key differentiator in a market where language diversity is vast. Beyond stylized portraits and avatars, OpenAI said early Images 2.0 users in India are experimenting with a wider range of formats—from fantasy newspaper covers to tarot-style visuals and fashion moodboards. Users are also using the AI tool to restore older photos and create cinematic portrait collages, indicating a shift toward more personal and nostalgic applications. Competitive Landscape and Market Dynamics OpenAI’s Images 2.0 launch comes amid intensifying competition in AI image generation. Google’s earlier image-focused model also saw strong early traction in India, indicating how the nation has become an important market for image generation. With the new ChatGPT Images release, OpenAI is pushing further with improvements such as better rendering of non-Latin text and enhanced prompt understanding. This competitive pressure is driving rapid innovation. OpenAI’s ability to capture and retain users in India will be a key test of its strategy. The company must balance global product consistency with local customization to maintain its edge against rivals like Google and emerging startups. User Behavior: Self-Expression Over Functionality The early patterns also highlight how AI image tools are being adopted differently across markets. While India’s large user base is driving overall scale, sharper spikes in countries like Pakistan and Indonesia point to stronger new-user demand in emerging markets following the launch. This suggests that in these regions, the novelty and accessibility of AI-generated personal imagery are powerful acquisition drivers. In contrast, users in more mature markets may have higher expectations for functional or professional applications, leading to slower adoption. OpenAI may need to develop tailored marketing campaigns and feature sets to address these diverse user needs. Data-Backed Insights and Expert Analysis Industry analysts point to several factors behind the measured global response. First, the AI image generation market is already crowded, with established players like Midjourney and Adobe Firefly. Second, many users may be cautious about privacy and data usage when uploading personal photos. Third, the modest engagement gains suggest that while the feature is appealing, it may not yet be a daily driver for most users. However, the sharp spikes in emerging markets indicate significant untapped potential. As internet penetration and smartphone adoption continue to grow in these regions, demand for accessible creative tools will likely increase. OpenAI’s investment in multilingual support and low-bandwidth optimization could pay substantial dividends in the long term. Timeline of Key Events Launch Week: OpenAI releases ChatGPT Images 2.0 with enhanced text rendering and thinking capabilities. Days 1-3: India emerges as the largest user base, with 5 million downloads in the first week. Days 4-7: Sensor Tower and Similarweb data reveal modest global engagement but sharp spikes in Pakistan, Vietnam, and Indonesia. Week 2: OpenAI analyzes user behavior, noting a focus on personal expression and self-portraiture in India. Conclusion ChatGPT Images 2.0 has clearly struck a chord in India, where personal expression and creative experimentation are driving massive download volumes. However, its global impact remains measured, with modest engagement gains and sharp but localized spikes in emerging markets. This pattern underscores the importance of localization and market-specific strategies for AI tools. As OpenAI continues to refine its image generation capabilities, its success will depend on balancing global reach with local relevance. The data from this launch provides valuable insights for the entire AI industry, highlighting both the immense potential and the challenges of scaling new features across diverse user bases. FAQs Q1: What is ChatGPT Images 2.0? ChatGPT Images 2.0 is OpenAI’s latest image-generation upgrade, designed to handle more complex prompts and produce detailed visuals with accurate text across multiple languages, including Hindi and Bengali. Q2: Why is India the largest user base for ChatGPT Images 2.0? India’s large, mobile-first population, combined with OpenAI’s improvements to non-Latin text rendering and a strong culture of personal expression on social media, has driven high adoption. Q3: How has the global response to ChatGPT Images 2.0 been? Global response has been mixed. While app downloads rose 11% week-over-week, overall engagement gains were modest, with daily active users up only around 1%. Sharp spikes were seen in emerging markets like Pakistan and Vietnam. Q4: What are users in India primarily creating with ChatGPT Images 2.0? Users in India are mainly creating personal visuals such as avatars, stylized portraits, fantasy-themed images, studio-style portraits, social media-ready images, and even restored old photos and cinematic collages. Q5: How does ChatGPT Images 2.0 compare to competitors like Google’s image models? ChatGPT Images 2.0 focuses on better non-Latin text rendering and thinking capabilities for refined outputs. Google’s earlier image model also saw strong traction in India, highlighting intense competition in the AI image generation space. This post ChatGPT Images 2.0 Dominates in India but Faces Measured Global Adoption: A Deep Dive first appeared on BitcoinWorld .

1 May 2026, 01:20

Upbit TIA Suspension: Critical Celestia Network Upgrade Halts Deposits and Withdrawals

BitcoinWorld Upbit TIA Suspension: Critical Celestia Network Upgrade Halts Deposits and Withdrawals Upbit, one of the world’s largest cryptocurrency exchanges by trading volume, has announced a temporary suspension of deposits and withdrawals for Celestia (TIA) . The halt begins at 9:00 a.m. UTC on May 5, 2025. The exchange cites a scheduled network upgrade as the reason. This move affects thousands of traders who hold or trade TIA on the platform. Upbit TIA Suspension: What Traders Need to Know The Upbit TIA suspension is a precautionary measure. Exchanges often pause services during major network changes. This prevents transaction errors or loss of funds. Upbit stated that the suspension supports the Celestia blockchain’s upgrade. The exchange will resume services once the network confirms stability. Timeline of the Suspension Announcement Date: May 3, 2025 Suspension Start: May 5, 2025, 9:00 AM UTC Expected Duration: Until the network upgrade completes and is verified Resumption Notice: Upbit will notify users via official channels Understanding the Celestia Network Upgrade Celestia is a modular blockchain network. It focuses on data availability and scalability. The upcoming upgrade aims to improve network performance. It may introduce new features or security patches. Network upgrades are common in blockchain ecosystems. They ensure the network remains efficient and secure. Why Exchanges Pause Services Exchanges like Upbit pause services during upgrades for several reasons: Prevent transaction failures: Incompatible transactions can fail or get stuck Protect user funds: Avoids potential loss during network instability Ensure accurate balances: Prevents discrepancies during block reorganization Compliance with network rules: Ensures all operations follow updated protocols Impact on TIA Traders and Investors The TIA deposit halt directly affects active traders. Users cannot move TIA into or out of Upbit during the suspension. This limits arbitrage opportunities. It also prevents withdrawals to external wallets. Traders holding TIA on Upbit must wait for the resumption. The TIA withdrawal pause also impacts those wanting to stake or use TIA in DeFi protocols. Market Reaction and Price Action Historically, exchange suspensions create short-term uncertainty. TIA’s price may experience volatility around the upgrade date. However, network upgrades often have neutral or positive long-term effects. Traders should monitor official Celestia channels for upgrade details. Upbit’s Track Record with Network Upgrades Upbit has a history of handling network upgrades efficiently. The exchange supports numerous blockchains. It regularly pauses services for scheduled maintenance. Past suspensions have resumed without major issues. This builds trust among users. The exchange provides clear communication during such events. Comparison with Other Exchanges Other major exchanges may also suspend TIA services. Binance, Coinbase, and Kraken often follow similar protocols. However, each exchange sets its own schedule. Traders using multiple platforms should check each exchange’s announcements. Coordinating across platforms is crucial during network upgrades. How to Prepare for the Suspension Traders should take specific steps before the suspension begins: Complete pending transactions: Finish any TIA deposits or withdrawals before May 5, 9:00 AM UTC Move funds if necessary: Transfer TIA to a personal wallet or another exchange if needed Monitor official updates: Follow Upbit’s announcements and Celestia’s upgrade progress Plan trading strategies: Account for the suspension period in short-term plans Expert Perspectives on Network Upgrades Blockchain analysts emphasize the importance of such upgrades. They improve network security and functionality. Dr. Elena Torres, a blockchain researcher, states, ‘Network upgrades are essential for long-term health. Exchanges pause services to protect users. This is standard practice.’ These upgrades often lead to better user experiences post-implementation. Historical Precedents Similar suspensions occurred for other networks. Ethereum’s transition to proof-of-stake caused multiple exchange pauses. Solana’s network upgrades also led to temporary halts. In each case, services resumed smoothly. Users faced minimal disruption. This pattern reinforces confidence in the current process. What Happens After the Upgrade Once the Celestia network upgrade completes, Upbit will verify network stability. The exchange will then resume TIA deposits and withdrawals. Users will receive notifications. The process typically takes a few hours to a day. Upbit prioritizes security over speed. This ensures all transactions are safe. Potential Delays and Contingencies Network upgrades can face unexpected issues. Delays may occur if the upgrade requires additional testing. Upbit has contingency plans for such scenarios. The exchange will communicate any changes promptly. Traders should remain patient and avoid panic actions. Conclusion The Upbit TIA suspension for the Celestia network upgrade is a standard precaution. It protects users and ensures smooth operations. Traders should complete all transactions before the May 5 deadline. The suspension is temporary. Services will resume after network verification. Staying informed through official channels is key. This event highlights the importance of network upgrades in blockchain ecosystems. They drive innovation and security. Understanding these processes helps traders navigate the crypto landscape effectively. FAQs Q1: When does the Upbit TIA suspension start? The suspension begins at 9:00 AM UTC on May 5, 2025. Q2: Why is Upbit suspending TIA deposits and withdrawals? Upbit is supporting a scheduled Celestia network upgrade to ensure transaction safety and network stability. Q3: How long will the TIA suspension last? The exact duration is unknown. Services will resume once the network upgrade completes and is verified by Upbit. Q4: Can I still trade TIA on Upbit during the suspension? Yes, trading may continue. Only deposits and withdrawals are paused. Check Upbit’s announcement for specific trading status. Q5: What should I do if I need to move my TIA before the suspension? Complete any TIA transfers before May 5, 9:00 AM UTC. After that, you must wait for the suspension to end. Q6: Will other exchanges also suspend TIA services? Other exchanges may follow similar protocols. Check individual exchange announcements for their schedules. This post Upbit TIA Suspension: Critical Celestia Network Upgrade Halts Deposits and Withdrawals first appeared on BitcoinWorld .

1 May 2026, 00:39

Crypto hacks hit record high in April as 20+ exploits shake DeFi

Hackers stole over $625 million across 20 to 30 separate attacks in April 2026 alone. That’s nearly one attack every single day. DefiLlama posted a chart on X showing that April averaged nearly 1 attack per day, compared with previous monthly records that rarely exceeded 12 to 15 incidents. This outstripped the total for all previous quarters, pushing the month toward a record high for security breaches . Why did two attacks cause almost all the damage? Several high-impact incidents defined the month. On April 1, 2026, the Drift Protocol lost $285 million. A North Korean group spent about six months building trust with Drift employees, only to steal the funds in 12 minutes using pre-signed withdrawal instructions. As earlier reported by Cryptopolitan , KelpDAO followed suit on April 18, losing $293 million after attackers tricked its system into releasing tokens with no real backing. Both attacks originated from North Korea, but used different methods, demonstrating a level of sophistication the DeFi industry was not ready for. Together, these two incidents alone accounted for the majority of April’s losses. This shows how a small number of sophisticated attacks can destabilize large portions of the DeFi ecosystem. Why did one hack freeze billions in money that had nothing to do with KelpDAO? The group behind the KelpDAO attack deposited the stolen tokens as collateral on Aave and borrowed nearly $190 million in real Ethereum against them. Aave was now holding worthless tokens as security for real loans, and the platform’s deposits fell from $26.4 billion to around $17.9 billion in just 48 hours. Stablecoin pools on the platform hit 100% utilization, and according to Galaxy Research, Aave’s bad debt rose to between $123.7 million and $230 million. Over $13 billion exited DeFi protocols within days of the attack as users panicked and began withdrawing funds. Platforms like Morpho, Spark, Lido, Yearn, Beefy, and Ethereum itself froze certain operations due to massive outflows as trust across the industry broke down. None of these accounts for the collateral damage seen across TVL, user trust, valuations, and the space’s morale. DeFi remains a niche market until risk can be properly priced.” DeFi analyst, as quoted by BeInCrypto. Who is responsible, and how much have they stolen in total? According to TRM Labs, government-backed hacking units in North Korea were responsible for 75% of all crypto hack losses through April 2026 ($577 million out of a total $759 million). As documented by the United Nations, the US Treasury, and multiple blockchain intelligence firms, North Korea steals crypto to fund its government and weapons programs due to severe international sanctions. TRM Labs reported that North Korea stole over $6 billion in crypto since 2017. “What we are watching is not a North Korean campaign that is broader — it is one that is sharper,” Ari Redbord, Global Head of Policy and Government Affairs at TRMLabs, said. “North Korea is moving faster and more precisely than ever.” What happened to the rest of April, beyond the two big attacks? Rhea Finance lost $18.4 million on April 10. Tether froze $3.29 million of those funds in time, but the attacker used flash loans to manipulate prices and drain the pool of the remaining amount. Similarly, the crypto exchange in Kyrgyzstan, Grinex , lost $13.74 million in USDT on April 15 after hackers split the funds across 54 wallets and converted them into SunSwap to make them difficult to track. Hyperbridge also lost $2.5 million on the Polkadot network, and CoW Swap $1.2 million on April 14. Onchain analyst Wazz posted on X on April 29, saying, “Hundreds of wallets (many of which haven’t been active in 7+ years) just got drained by the same address on ETH mainnet.” He added, “Seems like a new live exploit, worth flagging.” It didn’t end there, though, because Wasabi Protocol lost approximately $5 million on the last day of April after an attacker used a compromised deployment key to exploit the system Is DeFi getting safer or more dangerous? Both, depending on how you look at it. For example, response times after attacks have greatly improved over the years, as more than 14 organizations pledged over $300 million to the DeFi United rescue fund after the KelpDAO incident. The Arbitrum Security Council even froze $71 million of the attacker’s funds using emergency powers, something that was never possible a few years ago. However, the attacks are also evolving faster than defenses can keep up, because the two biggest April incidents exploited human manipulation. Years ago, most hacks exploited bugs in the smart contracts. If losses continue at this rate, with the same number of hacks, the industry might lose about $7.5 billion in the coming months. That’s 3 times the losses in 2024. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .