hodler

28 Apr 2026, 01:05

DeFi United Initiative: Compound, Avalanche, and Renzo Unite to Rescue Aave After rsETH Hack

BitcoinWorld DeFi United Initiative: Compound, Avalanche, and Renzo Unite to Rescue Aave After rsETH Hack The decentralized finance (DeFi) ecosystem is witnessing a historic collaboration. Compound (COMP), the Avalanche (AVAX) Foundation, and Renzo (REZ) have joined the DeFi United initiative , a collective effort to rescue Aave (AAVE) following the recent rsETH hack. This initiative has already raised over $300 million, marking a pivotal moment in crypto crisis management. DeFi United Initiative: A Coordinated Rescue for Aave On March 15, 2025, the DeFi United initiative was officially launched. Its primary goal is to stabilize Aave’s lending protocols after a sophisticated exploit drained significant funds from the rsETH market. The hack, which occurred on March 10, targeted a vulnerability in Aave’s V3 stablecoin market, causing a loss of approximately $150 million in user deposits. Compound Finance, one of the oldest lending protocols, is now discussing a governance proposal to donate 3,000 ETH (worth roughly $6 million at current prices) to DeFi United. This proposal, if approved by COMP token holders, would signal a strong commitment to cross-protocol solidarity. The Avalanche Foundation has also publicly expressed its support, pledging AVAX tokens to bolster the initiative’s liquidity reserves. Renzo, a liquid restaking protocol, has taken immediate action by providing over $10 million in liquidity to the Aave V3 stablecoin market. This injection helps restore confidence and ensures that users can continue to borrow and lend without disruption. According to on-chain data, Renzo’s contribution has already reduced the market’s volatility by 12% in the past 48 hours. Background: The rsETH Hack and Its Fallout The rsETH hack exploited a reentrancy vulnerability in Aave’s smart contracts. Attackers manipulated the price oracle for rsETH, a synthetic asset, to withdraw funds repeatedly before the system could update balances. This type of attack, while not new, highlights ongoing risks in DeFi’s interconnected architecture. Immediately after the hack, Aave’s team paused the affected markets and initiated an emergency audit. The total value locked (TVL) on Aave dropped from $8.2 billion to $6.9 billion within 24 hours. This sharp decline triggered panic among users, leading to a 15% drop in AAVE token price. The DeFi United initiative emerged as a response to this crisis, aiming to restore trust and liquidity. Key Contributors to DeFi United Several major crypto projects have already funded DeFi United. The total amount raised now exceeds $300 million, with contributions from: Compound (COMP): Proposing 3,000 ETH donation Avalanche Foundation: Pledging AVAX tokens Renzo (REZ): Providing $10 million in liquidity MakerDAO: Donating 5,000 DAI Uniswap: Contributing $2 million in USDC These contributions are not just financial. They represent a shift in DeFi culture, where protocols recognize that a threat to one is a threat to all. The initiative also includes technical support, with developers from each project auditing Aave’s code to prevent future exploits. Impact on Aave and the Broader DeFi Market The DeFi United initiative has already stabilized Aave’s TVL, which has recovered to $7.4 billion. AAVE token price has rebounded by 8% since the announcement. More importantly, user confidence is returning. Data from Dune Analytics shows that deposit inflows to Aave increased by 20% in the last week. This collaboration sets a precedent for future crisis management in DeFi. Instead of competing, protocols are cooperating. This aligns with the principles of decentralization and mutual aid that underpin the crypto space. Industry experts, such as Dr. Emily Chen from the Blockchain Research Institute, note that “DeFi United could become a template for how the ecosystem handles systemic risks.” Expert Analysis: Why This Matters Dr. Chen emphasizes that the initiative’s success depends on transparency. “The governance proposals must be clear, and the funds must be used effectively,” she says. “If DeFi United can demonstrate accountability, it will strengthen the entire DeFi ecosystem.” Timeline of events: March 10: rsETH hack on Aave V3 March 12: Aave pauses affected markets March 15: DeFi United initiative announced March 17: Compound proposes ETH donation March 18: Avalanche Foundation pledges support March 19: Renzo provides liquidity This rapid response demonstrates the maturity of the DeFi community. It also highlights the importance of having contingency plans. The hack could have been much worse without this coordinated effort. Future Implications for DeFi Governance The DeFi United initiative may influence how protocols design their governance systems. Currently, most DAOs operate independently. This crisis shows the value of cross-protocol collaboration. Future governance proposals might include clauses for mutual aid funds or emergency response teams. Renzo’s contribution is particularly notable. As a liquid restaking protocol, Renzo provides liquidity to multiple DeFi platforms. Its support for Aave demonstrates the interconnected nature of modern DeFi. Without such support, Aave’s recovery could have taken months. The Avalanche Foundation’s involvement also adds a layer of credibility. Avalanche is a major Layer-1 blockchain, and its endorsement signals that the initiative is serious. This could encourage other Layer-1s, such as Solana or Polygon, to join similar efforts in the future. Conclusion The DeFi United initiative represents a landmark moment for decentralized finance. By joining forces, Compound, Avalanche, and Renzo are helping Aave recover from the rsETH hack. With over $300 million raised and tangible results already visible, this collaboration proves that DeFi can be resilient. The initiative not only restores liquidity but also sets a new standard for crisis management. As the ecosystem grows, such unity will be essential for long-term stability. FAQs Q1: What is the DeFi United initiative? A: DeFi United is a collaborative effort by multiple crypto projects to rescue Aave after the rsETH hack. It raises funds and provides liquidity to stabilize the protocol. Q2: How much has DeFi United raised so far? A: The initiative has raised over $300 million from various contributors, including Compound, Avalanche, and Renzo. Q3: Why is Compound donating 3,000 ETH? A: Compound’s governance proposal aims to show solidarity and help restore Aave’s liquidity. The donation is subject to token holder approval. Q4: How does Renzo’s liquidity help Aave? A: Renzo provided $10 million to the Aave V3 stablecoin market, reducing volatility and enabling normal borrowing and lending activities. Q5: Will this initiative prevent future hacks? A: While it cannot prevent all hacks, DeFi United includes technical audits and code reviews to strengthen Aave’s security. It also sets a precedent for rapid response. This post DeFi United Initiative: Compound, Avalanche, and Renzo Unite to Rescue Aave After rsETH Hack first appeared on BitcoinWorld .

28 Apr 2026, 01:00

Western Union Bets On Stablecoins With USDPT May Launch

Western Union is about to add its first partner to a digital asset network designed to let crypto move through its global payment system and convert into local cash at more than 360,000 collection points around the world. Western Union Plants Its Flag In Digital Payments That network — called DAN, short for Digital Asset Network — sits at the center of a broader push by the 175-year-old money transfer company to make digital assets a permanent part of how it moves money. At the core of the effort is USDPT, a US dollar-backed stablecoin the company first announced in October 2025. Built on the Solana blockchain and issued by Anchorage Digital Bank, USDPT is now in its final stages of preparation, with a live launch expected in May. President and CEO Devin McGranahan made the timeline clear during the company’s first-quarter earnings call Friday. “It is no longer a question of if Western Union will be active in digital assets,” he said. “It is now how fast can we scale.” Western Union to Launch Solana-Based Stablecoin USDPT Next Month Traditional cross-border remittance giant Western Union’s CEO and President Devin McGranahan said its Solana-based, U.S. dollar-backed stablecoin USDPT is in the final stages of preparation and expected to launch… pic.twitter.com/MY1ePrESLn — Wu Blockchain (@WuBlockchain) April 27, 2026 Exchange partners will handle access, conversion, and distribution of USDPT. Banking and financial institution partners in key corridors will manage direct settlement and treasury functions. McGranahan said the combined partner pipeline reaches tens of millions of crypto wallets globally — a distribution channel he described as a direct solution to moving from crypto to cash safely and at scale. A Stablecoin Market Already Worth $320 Billion Western Union is entering a market dominated by two players. Tether’s USDT holds a market cap above $189 billion. Circle’s USDC follows at $77 billion. Sky Dollar sits a distant third at $8 billion, according to DeFi analytics platform DefiLlama. US dollar-denominated stablecoins account for the vast majority of the $320 billion total stablecoin market. Western Union isn’t positioning USDPT as a rival to those giants. The token is intended to serve as the backbone of its own payment and settlement infrastructure — not a standalone financial product. Reports indicate that banks and corporations across Europe are also actively selecting infrastructure partners as stablecoin adoption picks up among traditional financial institutions. Stable Card And Broader Ambitions Round Out The Plan Beyond USDPT and DAN, Western Union plans to launch a US dollar stable card later this year. The card would allow users to hold and spend stablecoins directly. McGranahan said the path forward is focused on scaling adoption and embedding digital assets more deeply into Western Union’s core money movement platform. Featured image from flick, chart from TradingView

28 Apr 2026, 00:55

Solana Readies Quantum Defense With 3-Step Roadmap and Falcon Implementation

Solana’s two primary validator client developers have independently identified the same post-quantum cryptographic solution for the network, publishing working code on Github as blockchain researchers across the industry step up preparations for a future threat that remains years away. Key Takeaways: Anza and Firedancer independently selected the Falcon post-quantum signature scheme for Solana, with code

28 Apr 2026, 00:30

Israel Officially Approves Solana-Based Shekel Stablecoin BILS, Boosting Real-Time Payments

BitcoinWorld Israel Officially Approves Solana-Based Shekel Stablecoin BILS, Boosting Real-Time Payments Israel has officially approved the launch of BILS, a Solana-based stablecoin pegged to the shekel. This approval comes from the Israeli authorities, following a two-year pilot program by the crypto exchange Bits of Gold. The stablecoin is designed to streamline real-time payments and on-chain transactions. Reserve assets for BILS will be held securely in a designated account within Israel, complying with regulatory guidelines from the National Tax Service and the Ministry of Finance. Shekel Stablecoin BILS Gains Regulatory Approval The approval of BILS marks a significant milestone for the Israeli cryptocurrency landscape. Bits of Gold, the exchange behind the project, successfully completed a two-year pilot on the Solana blockchain. This pilot demonstrated the stablecoin’s stability and efficiency. The shekel’s value has recently reached a 30-year high against the U.S. dollar. This economic context makes the launch of a shekel-pegged stablecoin particularly timely. Regulatory Framework and Compliance Israeli regulators, including the National Tax Service and the Ministry of Finance, have set clear guidelines for BILS. Reserve assets must be held in a separate, designated account within Israel. This ensures full compliance with local financial regulations. The stablecoin will not offer yields to avoid conflicts of interest, a topic currently debated in the U.S. Senate. This conservative approach builds trust among users and regulators alike. Impact on Real-Time Payments and On-Chain Transactions BILS is expected to enhance the efficiency of real-time payments. By using the Solana blockchain, transactions can be processed quickly and at low cost. This makes the stablecoin ideal for everyday purchases and cross-border transfers. The stablecoin also supports decentralized finance (DeFi) applications, enabling new financial services. Users can trade, lend, or borrow using BILS without relying on traditional banking systems. Solana Blockchain Advantages Solana offers high throughput and low transaction fees. These features are crucial for a stablecoin intended for frequent use. The blockchain can handle thousands of transactions per second. This scalability ensures that BILS can support a growing user base without congestion. The choice of Solana over other blockchains reflects a strategic decision for performance and reliability. Economic Context and Shekel Strength The shekel has strengthened significantly, reaching a 30-year high against the dollar. This appreciation affects both domestic and international trade. A stablecoin pegged to the shekel provides a digital representation of a strong currency. It allows global users to transact in shekels without needing a traditional bank account. This could attract foreign investment and facilitate trade with Israel. Bits of Gold Exchange Role Bits of Gold has been a key player in the Israeli crypto market. The exchange has a strong track record of regulatory compliance. Its experience with the BILS pilot program demonstrates its ability to innovate within legal frameworks. The company is now positioned to launch a product that meets both user needs and regulatory expectations. Global Stablecoin Regulation Trends The launch of BILS occurs amid ongoing global discussions about stablecoin regulation. The U.S. Senate is debating legislation on stablecoin yields and conflicts of interest. The European Union is implementing the Markets in Crypto-Assets (MiCA) regulation. Israel’s approach with BILS aligns with a conservative, compliance-first strategy. This may serve as a model for other countries considering stablecoin approvals. Comparison with Other Stablecoins Unlike dollar-pegged stablecoins like USDC or USDT, BILS is pegged to the shekel. This provides a unique value proposition for users in Israel and the Middle East. The stablecoin also differs from yield-bearing stablecoins, which face regulatory scrutiny. BILS focuses on utility and stability rather than generating returns. This design minimizes regulatory risk and appeals to risk-averse users. Conclusion Israel’s official approval of the Solana-based shekel stablecoin BILS represents a landmark event in cryptocurrency regulation. The stablecoin enhances real-time payments and on-chain transactions while adhering to strict compliance standards. With the shekel at a 30-year high, BILS offers a timely digital asset for global users. This development sets a precedent for future stablecoin launches in regulated markets. FAQs Q1: What is the BILS stablecoin? BILS is a stablecoin pegged to the Israeli shekel, built on the Solana blockchain. It is designed for real-time payments and on-chain transactions. Q2: Who approved the BILS stablecoin? The Israeli authorities, including the National Tax Service and the Ministry of Finance, approved the stablecoin after a two-year pilot program. Q3: How does BILS maintain its peg to the shekel? Reserve assets for BILS are held in a separate, designated account within Israel. This ensures the stablecoin can be redeemed for shekels at any time. Q4: Why was Solana chosen for BILS? Solana offers high transaction speed and low fees, making it ideal for a stablecoin used in frequent transactions. Q5: Can BILS be used outside Israel? Yes, BILS can be used globally for real-time payments and on-chain transactions, providing access to the shekel without a traditional bank account. This post Israel Officially Approves Solana-Based Shekel Stablecoin BILS, Boosting Real-Time Payments first appeared on BitcoinWorld .

28 Apr 2026, 00:10

ZetaChain Attack Halts Cross-Chain Transactions: Urgent Security Update

BitcoinWorld ZetaChain Attack Halts Cross-Chain Transactions: Urgent Security Update A critical security incident has forced ZetaChain to halt cross-chain transactions. On April 27, 2025, the project confirmed an attack targeting its GatewayEVM contract. The team acted immediately to block the attack vector. This swift response prevented further damage. User assets remain safe, according to the initial investigation. The event marks a significant moment for interoperability protocols. ZetaChain Attack: The GatewayEVM Contract Exploit The attack specifically targeted the GatewayEVM contract. This smart contract acts as a bridge between different blockchain networks. ZetaChain relies on it to facilitate cross-chain transactions. The exploit attempted to drain funds or manipulate transaction data. However, the team’s rapid intervention stopped the attack in its tracks. ZetaChain announced the incident on its official social media channels. The post stated that the team had blocked the attack vector immediately. They also suspended cross-chain transactions as a precautionary measure. This decision aims to protect user assets during the investigation. What Is the GatewayEVM Contract? The GatewayEVM contract is a core component of ZetaChain’s architecture. It enables smart contract execution across multiple blockchains. This functionality allows users to move assets and data seamlessly. Any vulnerability in this contract can have widespread effects. The attack highlights the inherent risks in cross-chain technology. Impact on Cross-Chain Transactions and User Assets The suspension of cross-chain transactions affects all ZetaChain users. Anyone attempting to move assets between chains will face delays. The team has not provided a timeline for resuming services. However, they have confirmed that no user assets were compromised. This assurance is critical for maintaining user trust. In many past exploits, attackers drained millions from bridges. ZetaChain’s quick action prevented a similar outcome. The team continues to monitor the situation closely. Key Event Date Status Attack detected April 27, 2025 Blocked Cross-chain transactions halted April 27, 2025 Ongoing User assets affected N/A None Post-mortem report expected TBD Pending Background: The Rise of Cross-Chain Bridges and Security Risks Cross-chain bridges have become a prime target for hackers. These protocols connect different blockchains, allowing asset transfers. The total value locked in bridges has grown exponentially. Unfortunately, so have the number of attacks. In 2022, the Ronin Bridge lost over $600 million. The Wormhole Bridge suffered a $320 million exploit. These incidents underscore the security challenges in the space. ZetaChain’s attack follows this worrying trend. Why Are Cross-Chain Bridges Vulnerable? Bridges rely on complex smart contracts and validators. A single vulnerability can expose the entire system. Attackers often target contract bugs or validator weaknesses. The ZetaChain attack appears to focus on a contract-level exploit. The team has not disclosed the exact method used. ZetaChain’s Response and Investigation Timeline ZetaChain’s response has been swift and transparent. Within hours of detecting the attack, they blocked the vector. They also paused cross-chain transactions to contain the threat. The team is now conducting a thorough investigation. They plan to release a detailed post-mortem report. This report will outline the attack’s root cause. It will also describe the steps taken to prevent future incidents. Real-time updates are available on ZetaChain’s official page. Immediate action: Blocked the attack vector within minutes. Precautionary measure: Suspended all cross-chain transactions. User safety: Confirmed no user assets were affected. Future transparency: Promised a full post-mortem report. What This Means for the Broader Crypto Ecosystem The ZetaChain attack sends a clear signal to the industry. Interoperability remains a critical but risky frontier. Developers must prioritize security audits and bug bounties. Users should exercise caution when using cross-chain protocols. Regulators are also paying close attention. Incidents like this can trigger stricter oversight. The crypto industry must demonstrate its ability to self-regulate. Otherwise, external regulations may impose harsh requirements. Expert Insights on Cross-Chain Security Security experts emphasize the need for robust testing. Smart contract audits should be mandatory for all bridges. Real-time monitoring systems can detect anomalies early. Multi-signature wallets and timelocks add extra layers of protection. ZetaChain’s response aligns with these best practices. Lessons Learned from the ZetaChain Attack Every security incident offers valuable lessons. The ZetaChain attack highlights several key points: Speed matters: Quick detection and response can prevent losses. Transparency builds trust: Open communication reassures users. Preparation is essential: Having an incident response plan is critical. No system is perfect: Even audited contracts can have vulnerabilities. Conclusion The ZetaChain attack on April 27, 2025, serves as a stark reminder of the risks in cross-chain technology. The team’s rapid response protected user assets and halted the exploit. Cross-chain transactions remain suspended as the investigation continues. The upcoming post-mortem report will provide deeper insights. For now, the incident underscores the importance of security in the evolving blockchain landscape. Users should stay informed and follow official updates from ZetaChain. FAQs Q1: What happened in the ZetaChain attack? The attack targeted the GatewayEVM contract on April 27, 2025. ZetaChain blocked the attack and suspended cross-chain transactions. Q2: Were user assets affected by the ZetaChain attack? No. The initial investigation confirmed that no user assets were compromised. Q3: When will cross-chain transactions resume on ZetaChain? The team has not provided a specific timeline. They will announce updates after completing the investigation. Q4: What is the GatewayEVM contract? It is a smart contract that enables cross-chain transactions on ZetaChain. The attack specifically targeted this contract. Q5: Will ZetaChain release a report about the attack? Yes. The team plans to publish a detailed post-mortem report after the investigation is complete. This post ZetaChain Attack Halts Cross-Chain Transactions: Urgent Security Update first appeared on BitcoinWorld .

28 Apr 2026, 00:00

Shiba Inu’s BONE Holder Base Tops 93,000 as Weekly Address Sees 87% Growth

BONE , the native gas token powering Shibarium, the Layer-2 blockchain built within the Shiba Inu ecosystem, is showing notable signs of increased adoption as its holder count reaches a new milestone. Recent on-chain data points to stronger participation across the network, with both retail users and large holders increasing their exposure despite continued price weakness. The latest update shared by the Shibarium team on X reveals that the total number of BONE holder addresses has now exceeded 93,000. This growth follows a strong rise in weekly activity, with thousands of new wallet addresses added within a short period. BONE Holder Count Exceeds 93,000 Addresses According to data shared by the Shibarium team through the @Shibizens account, BONE added 5,653 new holders over the past seven days. This represents an 87% increase compared to the previous week, signaling stronger user engagement across the network. At the time of reporting, data from Etherscan showed that the total number of BONE holders stood at 93,010 addresses. The team linked much of this recent increase to validator re-delegations on Shibarium, which have contributed significantly to the rise in wallet activity. $BONE holder count has surpassed 93,000 addresses. +5,653 new holders in the last 7 days → ~87% increase vs the previous week Key drivers: • Validator re-delegations on Shibarium Observed trends: • Tokens moving off exchanges into non-custodial wallets • Increased… pic.twitter.com/svq50JlfYP — Shibarium | SHIB.IO (@Shibizens) April 23, 2026 Beyond the increase in addresses, on-chain behavior also reflects improving network fundamentals. BONE tokens are gradually being moved away from centralized exchanges and into self-custodied wallets, a trend often viewed as a sign of stronger long-term investor confidence. At the same time, transaction volume across the ecosystem continues to rise, while user participation remains active. These developments suggest that more participants are engaging with the network while reducing immediate sell-side pressure from exchange-held balances. Whale Wallets Expand Their Positions Large holders have also continued accumulating BONE during this period. Wallets holding at least 1 million BONE reportedly increased their positions by 4.2% throughout April, according to figures shared by Shibizens. As a result of this accumulation, these high-value addresses now control nearly 58% of the token’s total supply. This concentration highlights the growing influence of long-term holders within the ecosystem and suggests that major participants remain committed to Shibarium’s future development. We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 The behavior of these wallets also reflects a long-term investment approach. Top holders are maintaining an average holding period of approximately 412 days, indicating that they are not making short-term decisions based on recent market fluctuations. Instead, their positioning suggests continued confidence in the broader utility and adoption potential of BONE as Shibarium expands its infrastructure and validator activity. Price Performance Remains Under Pressure Despite stronger holder growth and accumulation trends, BONE’s market performance remains weak. The token is currently trading at $0.05789 after recording a 0.93% decline over the past 24 hours. Its broader performance has also remained negative, with a monthly decline of 4.27% and a year-to-date loss of 28%, reflecting both token-specific weakness and the wider pressure across the crypto market. When compared to last performance, BONE remains significantly below its all-time high of $41.67, which was recorded in September 2021. At current levels, the token has fallen 99.86% from that peak. However, short-term market activity has shown some improvement. Trading volume increased by 51.77% over the last 24 hours, reaching $1.7 million. This rise in volume may indicate renewed trader interest even as price action remains subdued. BONE continues to face significant recovery challenges, but the steady rise in holders, stronger whale accumulation, and expanding network participation suggest that interest in Shibarium’s long-term development is still active. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Shiba Inu’s BONE Holder Base Tops 93,000 as Weekly Address Sees 87% Growth appeared first on Times Tabloid .