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22 May 2026, 07:30
ZachXBT Accuses Kucoin of Shielding $13M in Stolen Crypto From German Investigators
Onchain investigator ZachXBT has publicly accused Kucoin of allowing stolen cryptocurrency to flow freely through its platform while refusing to cooperate with German law enforcement. ZachXBT Says Kucoin Is ‘Complicit’ The pseudonymous blockchain sleuth posted a direct broadside against Kucoin on May 22. “The team is complicit and allows illicit activity to flow as long
22 May 2026, 07:05
SlowMist Founder: Without Ethereum, Crypto Would Be ‘Incredibly Dull’
BitcoinWorld SlowMist Founder: Without Ethereum, Crypto Would Be ‘Incredibly Dull’ The cryptocurrency industry would lose much of its dynamism if Ethereum were to collapse, leaving a landscape dominated solely by Bitcoin and described as “incredibly dull,” according to Cos, the founder of blockchain security firm SlowMist. In a statement shared on X, Cos argued that while a failure of Bitcoin would likely spell the end for the entire crypto market, Ethereum’s demise would have a more contained — but still significant — impact. He suggested that if Ethereum were to fail, virtually every public blockchain running smart contracts would face similar challenges, effectively stripping the industry of its most innovative layer. The Argument: Ethereum as the Engine of Innovation Cos’s remarks underscore a growing recognition of Ethereum’s central role in powering decentralized applications, stablecoins, and real-world asset (RWA) tokenization. He noted that if these sectors are not built on Ethereum, another mature smart contract platform must be capable of stepping in to preserve the industry’s functionality and appeal. “If Ethereum collapses, all public chains that run smart contracts would likely face a similar fate,” Cos wrote, framing the scenario as one that would leave the crypto space with only Bitcoin — a store of value with limited programmability. Security as the Critical Safeguard Beyond the hypothetical, Cos emphasized a more immediate concern: security. He stressed that the industry must prioritize protecting users from vulnerabilities that could drive them away out of disappointment. His comments come amid a period where high-profile exploits and bridge hacks have repeatedly tested user confidence. “The industry must focus more on security, ensuring that users are not forced to leave the space out of disappointment over security vulnerabilities,” Cos stated, linking the long-term health of the ecosystem directly to its ability to safeguard assets and data. Why This Matters to the Broader Market Cos’s perspective carries weight given SlowMist’s reputation as a leading blockchain security auditor. His remarks highlight a critical tension within the industry: the reliance on a single dominant smart contract platform versus the need for robust security across all chains. For investors and developers, the message is clear — Ethereum’s role is not just about market cap, but about maintaining the diversity and functionality that makes crypto more than a simple digital gold. Conclusion Cos’s analysis serves as both a warning and a call to action. While Ethereum’s failure is not imminent, the industry’s dependence on its smart contract ecosystem makes security a foundational priority. Without it, the risk is not just financial loss, but a future where crypto becomes a far less interesting — and far less useful — space. FAQs Q1: What did the SlowMist founder say about Ethereum and Bitcoin? Cos stated that if Bitcoin fails, the entire crypto industry would fail, but if Ethereum fails, the industry would become “incredibly dull” and lose most of its innovation, leaving only Bitcoin as a store of value. Q2: Why does Cos believe Ethereum’s failure would impact other blockchains? He argued that all public chains running smart contracts would likely face similar issues if Ethereum collapsed, because the technology and security models are closely interconnected. Q3: What is Cos’s main recommendation for the industry? He emphasized that the industry must prioritize security to prevent user disappointment and exodus, especially as vulnerabilities continue to pose risks to platforms like Ethereum. This post SlowMist Founder: Without Ethereum, Crypto Would Be ‘Incredibly Dull’ first appeared on BitcoinWorld .
22 May 2026, 06:55
Thorchain Outlines Recovery Plan After $10 Million Exploit
BitcoinWorld Thorchain Outlines Recovery Plan After $10 Million Exploit The Thorchain Foundation, the organization behind the decentralized cross-chain liquidity protocol RUNE, has publicly detailed its recovery strategy following a security exploit that resulted in the loss of approximately $10 million in digital assets. The announcement comes as the protocol works to stabilize its operations and reassure its user base after the incident. Recovery Strategy and Loss Absorption According to the foundation’s statement, the primary mechanism for covering the losses will be the Protocol Owned Liquidity (POL), a reserve of assets held by the protocol itself. This fund is designed to act as a buffer against such events, absorbing the initial financial shock. Any remaining deficit that exceeds the POL capacity will be addressed through a proportional adjustment applied to holders of synthetic assets (Synths) within the Thorchain ecosystem. The foundation noted that the exact ratio of this distribution is still being finalized to ensure a fair and accurate allocation. No RUNE Dilution Planned A key point in the announcement is the foundation’s explicit commitment to avoid issuing or selling additional RUNE tokens to cover the losses. This decision is significant for current token holders, as it means there will be no dilution of their existing stakes. By choosing to absorb the impact through internal reserves and targeted adjustments rather than market-based fundraising, the foundation aims to maintain the existing tokenomics structure and limit secondary market disruption. Implications for the DeFi Ecosystem This incident underscores the persistent security challenges faced by decentralized finance protocols, particularly those handling cross-chain transactions. Thorchain’s recovery plan is being closely watched by the broader DeFi community as a case study in crisis management. The use of POL as a first line of defense aligns with best practices for protocol risk management, while the decision to avoid minting new tokens may help preserve market confidence. However, the impact on Synth holders, who will bear part of the residual loss, remains a point of focus. The foundation has not yet provided a specific timeline for the full implementation of the recovery plan, and the situation continues to develop. Conclusion Thorchain’s recovery plan reflects a structured approach to managing a significant security incident, prioritizing internal loss absorption and avoiding token dilution. While the immediate financial impact has been contained, the long-term effect on user trust and the protocol’s security posture will depend on the successful execution of the plan and any subsequent security enhancements. The event serves as a reminder of the inherent risks in decentralized finance and the importance of robust risk management frameworks. FAQs Q1: How much did Thorchain lose in the exploit? The Thorchain Foundation reported a loss of approximately $10 million in digital assets due to a vulnerability exploit. Q2: Will RUNE token holders be affected by the recovery? No. The foundation has stated it will not issue or sell additional RUNE tokens, meaning there will be no dilution of existing holder stakes. Q3: Who will cover the losses not absorbed by the Protocol Owned Liquidity? Any remaining deficit after the POL is used will be distributed among holders of synthetic assets (Synths) within the Thorchain ecosystem, with the exact ratio still being finalized. This post Thorchain Outlines Recovery Plan After $10 Million Exploit first appeared on BitcoinWorld .
22 May 2026, 06:02
Business Expert to XRP Holders: You’re Not Ready for This Prediction By Ripple President
Crypto enthusiast Minus Wells has attracted attention after sharing comments from Ripple President Monica Long regarding the future of stablecoin payments and digital asset transactions. The post focused on a video clip in which Long discussed Ripple’s transaction activity and her expectations for the next phase of blockchain-based payments. The comments are centered on Ripple’s growing transaction volume and the increasing adoption of digital asset-powered payment systems. Long stated that Ripple has facilitated approximately $70 billion in payments through digital assets while processing around 40 million transactions. According to her remarks, the figures reflect continued institutional and enterprise use of blockchain payment technology. #XRP HOLDERS… YOU’RE NOT READY FOR MONICA LONG'S PREDICTION pic.twitter.com/pOo9JdL1zC — ᙢinus ᙡells (@MinusWells) May 20, 2026 Monica Long Predicts a Major Year for Stablecoin Payments A significant part of the video focused on Long’s expectations for stablecoin adoption. In the clip attached to the X post, she said she believes the next year could become a major turning point for stablecoin-based payments. According to Long, the market has already started to recognize the opportunity surrounding stablecoins. She explained that interest in the sector became more visible last year, suggesting that financial firms and payment providers are paying closer attention to blockchain-based settlement systems. Her comments arrive at a time when stablecoins continue to receive increased attention from financial institutions, payment companies, and regulators . Several firms in the digital asset industry have recently expanded stablecoin-related services, particularly for cross-border transfers and settlement infrastructure. Minus Wells’ post mainly emphasized the implication that Ripple’s leadership sees stronger momentum ahead for blockchain-powered payments. The wording of the tweet suggested that XRP holders should closely watch the direction of stablecoin adoption and Ripple’s broader payment strategy. We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 Ripple’s Payment Figures Become a Key Talking Point The payment statistics mentioned by Long became central aspects of the post. The Ripple president stated in the video that the company has facilitated roughly $70 billion in payments and about 40 million transactions through digital assets over time. Supporters of XRP on X reacted strongly to the scale of those numbers, especially as discussions around institutional blockchain adoption continue to increase. Many users interpreted the comments as evidence that enterprise-focused payment systems built around blockchain technology are expanding steadily. Long’s remarks also reinforced Ripple’s continued focus on payment infrastructure rather than speculative use cases. Over the years, Ripple has positioned itself as a company to improve global payments using blockchain technology and digital assets. As stablecoins gain global traction, many market participants are now watching to see whether the coming year will match Long’s expectations for increased adoption and larger payment activity across blockchain networks. 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 advised to conduct thorough 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 X , Facebook , Telegram , and Google News The post Business Expert to XRP Holders: You’re Not Ready for This Prediction By Ripple President appeared first on Times Tabloid .
22 May 2026, 06:00
Tax Evasion Goes Digital: Criminals Shift To Novel Crypto Instruments – Analysts
An Italian police unit cracked a tax fraud case worth over a million dollars — and at the center of it was not a secret bank account or a shell company, but Bitcoin inscriptions. A New Way To Hide Old Money Italy’s Economic and Financial Police Unit in Foggia uncovered a scheme in which a suspect allegedly used the Bitcoin Ordinals protocol and the BRC-20 token standard to generate and conceal roughly 1 million euros, or about $1.1 million, in undeclared capital gains. According to blockchain analytics firm Chainalysis , the suspect created tokens using those tools, listed them on marketplaces, sold them for far more than they originally cost, and funneled the profits back into a primary Bitcoin wallet. The cycle repeated — earnings went straight into new inscriptions, keeping the money moving and off tax records. Introduced in 2023, the Ordinals protocol works by assigning a serial number to a satoshi, the smallest unit of Bitcoin, and embedding data such as images or text into a Bitcoin transaction. The BRC-20 standard builds on that by letting users deploy, mint, and transfer tokens directly on the Bitcoin blockchain. Tax Authorities Playing Catch-Up Tax evasion through crypto is not new. What is changing is how creative the methods are getting. Chainalysis said bad actors are increasingly turning to NFTs, decentralized finance protocols, and emerging token standards in hopes of keeping wealth hidden from authorities. The firm published its findings Wednesday. Compliance data suggests the problem runs deep. A study released in March found that only 32% to 56% of US crypto owners report their gains to tax authorities. In Norway, that figure dropped to just 12%, based on research published in August 2024. Meanwhile, the US Internal Revenue Service puts the country’s gross tax gap — the total taxes legally owed but not collected — at around $606 billion. A Trail That Never Disappears Despite the technical creativity behind schemes like the one in Italy, Chainalysis said there is a built-in weakness in using crypto to hide money. The blockchain keeps a permanent record of every transaction, and that record cannot be changed or deleted. The Fatal Flaw Of Crypto Fraud Blockchain intelligence tools are capable of rebuilding a complete financial network and comparing it with information crypto exchanges are required to disclose, making it possible to trace transactions back to suspected tax cheats. Officials said the Italian case shows that technical novelty does not equal anonymity. As new types of digital assets continue to appear and generate income, analysts say the gap between actual on-chain wealth and what people declare on their taxes will draw more attention from investigators around the world. Featured image from Tax Central, chart from TradingView
22 May 2026, 05:45
Three blockchain infrastructure projects shut down on the same day as Layer 2 consolidation accelerates
Three blockchain infrastructure projects closed their operations on May 21, suggesting rising concern about the sustainability of venture-backed solutions. Syndicate Labs, Everclear (formerly Connext), and ZERO Network each shut down within hours of each other. The shutdowns involve three separate industries that have had substantial venture investments within the period from 2021 to 2022. Syndicate Labs closes after rollup demand dries up Syndicate Labs constructed infrastructure for Ethereum appchains and smart sequencing. The company secured $20 million in Series A fundraising, backed by Andreessen Horowitz, in 2021. Five years went into creating developer tools tailored toward rollups. “Unfortunately, the rollup market has shrunk dramatically,” Syndicate Labs announced on X on May 21. “For every new rollup spinning up, more are quietly shutting down.” Will Papper, co-founder of the company, said the team thought about pivoting into rollup-as-a-service consulting, but found that the market was moving away from this and towards custom execution environments made specifically for certain applications. “I wish we had a better path to customer and market traction. Unfortunately, we did not in this rollup market,” Papper said . EVM rollups are no longer the default route for scaling, according to the firm. Teams are choosing to construct their own chains rather than use shared infrastructure. The Syndicate Network Collective remains independent from Syndicate Labs. “SYND governance is not immediately affected,” the company wrote. The shutdown is unrelated to the April bridge exploit, in which attackers stole roughly 18.5 million SYND tokens and about $50,000 in user assets. Syndicate said affected holders received full reimbursement from treasury reserves. Everclear ran out of revenue, ZERO Network ran out of users Everclear made an announcement that they will cease operations of their foundation and development departments on May 21. Established in 2017 by Arjun Bhuptani and initially sponsored by Ethereum Foundation, the cross-chain settlement protocol had already handled over $1.5 billion across 23 networks and was clearing more than $500 million every month. None of this led to any sustainable source of income. The CLEAR token plummeted by 48% in just a few hours after the announcement to stand at $0.0002332. It is now confirmed that the protocol has been sunsetted and there are no funds locked up. ZERO Network, a gasless Ethereum L2 built by wallet company Zerion using ZK Stack technology, confirmed it is also winding down. Users have until July 31 to withdraw their funds. Zerion, which has raised $22.5 million in total funding, said it will refocus on its wallet and API products. The network had already stopped producing blocks for three weeks in January before a brief relaunch, suggesting the operational challenges were not new. Rollup TVL dropped 36% from October The closures happened amid a broader contraction in the Layer 2 ecosystem. Rollup TVL has fallen about 36% from the October 2025 peak above $50 billion, per L2Beat data. Arbitrum One, Base, and OP Mainnet now control roughly three-quarters of rollup activity. Smaller networks have been described by analysts as “zombie chains” due to minimal transaction volume. As Cryptopolitan predicted in December 2025, the L2 ecosystem was expected to consolidate around a few dominant players, with Base, Arbitrum, and Optimism absorbing most activity. That prediction is now playing out through closures rather than gradual decline. Lattice, Balancer, Tally, and four others also shut down The shutdown trend extends well beyond May 21. Lattice, the blockchain gaming infrastructure team behind the Redstone Layer 2 network, announced a phased shutdown in April. Redstone ceased service on May 16, per PANews . Lattice said it “failed to achieve a sustainable business model” after five years. Before that, Solana DeFi aggregator Step Finance, derivatives protocol Polynomial, Balancer Labs (following a major hack), and Base-based lending protocol Seamless Protocol all closed. Tally, a DAO governance platform used by over 500 protocols including Uniswap and Arbitrum, wound down in March citing unsustainable costs. The common thread is shrinking room for mid-tier infrastructure. Even well-funded teams with working products cannot build sustainable revenue as on-chain activity consolidates into a few dominant platforms. Syndicate stated it could not afford to “wait out these market conditions.” For users on the affected networks, the consequences are immediate. Everclear token holders took heavy losses on the day. ZERO Network set a hard deadline for asset withdrawal. The market is moving from fragmented scaling solutions toward a handful of ecosystems. The projects caught in between are closing. If you're reading this, you’re already ahead. Stay there with our newsletter .
