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5 Jun 2026, 03:45
Zcash Bug Fixed, Says Cyber Capital Founder, Urging Community Calm
BitcoinWorld Zcash Bug Fixed, Says Cyber Capital Founder, Urging Community Calm Justin Bons, founder of European crypto investment firm Cyber Capital, has moved to calm the cryptocurrency community following the discovery of a critical bug in Zcash (ZEC). The vulnerability, located in the privacy-focused protocol known as Orchard, could have theoretically allowed for the infinite creation of new Zcash tokens. Bug Discovery and Immediate Response In a statement shared on X (formerly Twitter), Bons confirmed that the bug has already been patched. He emphasized that the flaw was discovered by security researchers acting in good faith, preventing any malicious exploitation. Bons praised the Zcash development team for their swift and competent response, urging users to refrain from panic. Understanding the Orchard Protocol Vulnerability The Orchard protocol is a core component of Zcash’s privacy architecture, designed to enable shielded transactions. The bug, had it been exploited, could have undermined the cryptocurrency’s fundamental scarcity by allowing an attacker to create tokens out of thin air. While the potential impact was severe, the fact that it was identified and resolved internally—before any public exploit—has been framed as a testament to the project’s security practices. Why This Matters for Privacy Coins Bons used the incident to highlight the broader importance of privacy-focused development in the cryptocurrency space. He argued that such technology is too valuable to be derailed by public overreaction or a lack of technical understanding. The incident serves as a reminder of the constant security challenges faced by all blockchain projects, particularly those prioritizing advanced privacy features. Conclusion The Zcash team’s rapid fix of the Orchard bug reinforces the importance of proactive security audits and responsible disclosure. For investors and users, the key takeaway is that the vulnerability was contained before it could cause harm. The episode underscores the ongoing need for vigilance and expertise in the development of privacy-preserving financial technologies. FAQs Q1: What was the Zcash bug? The bug was found in the Orchard protocol, a privacy feature of Zcash. It could have allowed an attacker to create an unlimited number of new Zcash tokens. Q2: Has the bug been fixed? Yes. According to Justin Bons of Cyber Capital, the bug was discovered by security researchers and has already been patched by the Zcash development team. Q3: Was any Zcash stolen or created because of the bug? No. The bug was discovered and fixed before any malicious exploitation occurred. The issue was handled internally and responsibly. This post Zcash Bug Fixed, Says Cyber Capital Founder, Urging Community Calm first appeared on BitcoinWorld .
5 Jun 2026, 02:35
Bithumb to Suspend POKT Deposits and Withdrawals on June 9 for Network Upgrade
BitcoinWorld Bithumb to Suspend POKT Deposits and Withdrawals on June 9 for Network Upgrade South Korean cryptocurrency exchange Bithumb has announced a temporary suspension of deposits and withdrawals for Pocket Network (POKT), effective June 9 at 10:00 a.m. UTC. The move is intended to support an upcoming network upgrade, according to an official statement from the exchange. Details of the Suspension Bithumb confirmed that the halt will apply to all POKT transactions on its platform, with the suspension beginning at the specified time on June 9. The exchange advised users to complete any pending deposits or withdrawals before the deadline to avoid delays. The suspension is expected to remain in effect until the network upgrade is completed and stability is confirmed. Bithumb has not yet provided a specific timeline for resumption, stating that further announcements will be made once the upgrade process is finalized. Understanding the Pocket Network Upgrade Pocket Network is a decentralized blockchain protocol designed to provide reliable and cost-effective infrastructure for Web3 applications. Network upgrades are routine events that introduce improvements in security, scalability, or functionality. During such upgrades, exchanges like Bithumb temporarily suspend token transactions to prevent errors, lost funds, or network inconsistencies. This is a standard industry practice observed across major trading platforms. What This Means for POKT Traders For traders holding POKT on Bithumb, the suspension means they will be unable to move tokens into or out of the exchange during the upgrade window. This could affect trading strategies, particularly for those who rely on quick arbitrage or transfers between exchanges. However, trading of POKT pairs on Bithumb is expected to continue as normal, unless otherwise specified. Users should monitor Bithumb’s official announcements for updates on the resumption of services. Conclusion Bithumb’s decision to suspend POKT deposits and withdrawals on June 9 is a precautionary measure to ensure a smooth network upgrade. While temporary, such suspensions are common in the cryptocurrency industry and reflect standard operational procedures. Traders are advised to plan accordingly and stay informed through official channels. FAQs Q1: Why is Bithumb suspending POKT deposits and withdrawals? Bithumb is suspending POKT transactions to support an upcoming network upgrade on Pocket Network. This prevents potential errors or lost funds during the upgrade process. Q2: When will the suspension start and how long will it last? The suspension begins on June 9 at 10:00 a.m. UTC. Bithumb has not announced a specific end time; services will resume once the upgrade is complete and network stability is confirmed. Q3: Can I still trade POKT on Bithumb during the suspension? Bithumb has indicated that trading of POKT pairs may continue as normal, but deposits and withdrawals will be unavailable. Users should verify the latest status on the exchange’s platform. This post Bithumb to Suspend POKT Deposits and Withdrawals on June 9 for Network Upgrade first appeared on BitcoinWorld .
5 Jun 2026, 02:20
Ethereum funding rate flattens to near zero as traders pull back leverage
On June 4, Ether’s 8-hour network-wide average funding rate was only 0.0028%, according to CoinGlass. This low rate suggests traders were not very sure about the market’s direction. Usually, higher leverage shows that traders have more confidence in how an asset will move. This average considers all major exchanges, but the figures differ significantly from one platform to another. For instance, Binance had 0.0047%, OKX 0.003%, and Gate 0.0052%. Bybit surprisingly showed -0.0013%, according to ChainCatcher. These variations matter because they show there are no coordinated directional bets. Instead, it shows more fragmentation when funding rates are negative on one exchange and positive on others. How Ethereum funding rates reflect market sentiment and leverage demand Perpetual futures contracts do not have an expiry date. To prevent their price from drifting far from the spot price, exchanges use funding payments that transfer value between long and short holders at regular intervals (usually every eight hours). If the funding rate is positive, those with long positions pay those with short positions, and when it’s negative, the shorts pay up instead. According to CoinMarketCap’s glossary, this setup “incentivizes people to open a position on the less popular side, hence driving the price toward the spot price.” At a funding rate of 0.0028% per eight-hour window, that’s around 0.0084% daily, or about 3% annualized. This means the cost for holding leveraged long exposure on Ethereum isn’t much. According to CoinGlass, when the funding rate is near zero, it means there’s equal demand for both long and short positions in perpetual markets. Why ETH funding rates matter beyond crypto derivatives markets High funding rates in crypto markets impact everyone, not just professional traders. When they’re very positive, it gets expensive to hold leveraged long positions, dampening speculators’ interest in buying ETH. If rates surge, major sell-offs occur, causing wider price fluctuations and dragging down connected assets as well. At the current level, the risks aren’t huge. Bitget shows that at around 0.0035% rate, there was only a mild bias towards long positions, with no extreme beliefs. The current rate of 0.0028% is even milder and closer to neutral. The exchange-level disparity adds a layer of complexity for institutional participants and arbitrage desks. A negative rate on Bybit alongside positive rates elsewhere creates what CoinGlass describes as “cross-exchange differences” that can generate “carry or arbitrage opportunities.” Capital flowing to exploit those gaps affects the liquidity distribution across global trading venues. What ETH traders should monitor beyond funding rates A single eight-hour snapshot carries limited predictive weight. As CoinEx Academy says, the funding rate is just a “sentiment and positioning proxy,” not a standalone price predictor. Also, they note that positive funding can last for weeks during strong uptrends without sparking a reversal. Trajectory matters more here. When funding goes up, and open interest grows over time, it means new leveraged longs are jumping in. That increases the number of positions at risk if prices fall. When funding falls toward zero alongside declining open interest, existing positions are closing and the market is resetting. According to ChainCatcher, ETH open interest dropped 5.06% in the past 24 hours, hinting at unwinding rather than setting up fresh positions. With funding nearly flat, this looks like a derivatives market waiting to see what happens next. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .
5 Jun 2026, 01:10
South Korean Lawmaker Proposes Bill to Prevent Crypto Mispayments After Major Bitcoin Error
BitcoinWorld South Korean Lawmaker Proposes Bill to Prevent Crypto Mispayments After Major Bitcoin Error South Korean lawmaker Baek Seon-hee of the Rebuilding Korea Party introduced a legislative amendment on June 4 aimed at preventing cryptocurrency mispayments, following a high-profile incident earlier this year where a large Bitcoin transfer was sent in error through a domestic exchange. Background of the Proposed Amendment The proposed amendment targets the Act on the Protection of Virtual Asset Users, seeking to mandate that virtual asset service providers implement a real-time information processing system. This system would continuously link actual asset balances with internal ledgers, ensuring immediate detection of discrepancies. Key Provisions for User Protection The bill also requires exchanges to incorporate an automatic feature that can restrict or halt transactions when abnormalities are detected. This includes scenarios such as balance mismatches or unusually large-scale transfers that deviate from normal user behavior. Why This Matters for Crypto Users The legislation directly addresses a critical vulnerability in the crypto ecosystem: human error during transactions. Unlike traditional banking, where reversals are possible, cryptocurrency transfers are often irreversible once confirmed on the blockchain. This amendment aims to create a safety net for users before funds leave their accounts. Conclusion If passed, South Korea would strengthen its position as a jurisdiction with proactive consumer safeguards in the digital asset space. The bill reflects a growing regulatory focus on operational reliability and user protection, setting a potential precedent for other markets grappling with similar issues. FAQs Q1: What prompted this bill? A large-scale Bitcoin mispayment incident at a South Korean crypto exchange earlier this year highlighted the lack of safeguards against user errors. Q2: How would the system work? Exchanges would need to run a real-time verification system that cross-checks user balances against internal records, flagging any mismatches immediately. Q3: Can transactions be reversed under this bill? The bill does not reverse completed transactions. Instead, it focuses on preventing erroneous transfers by halting them before they are executed. This post South Korean Lawmaker Proposes Bill to Prevent Crypto Mispayments After Major Bitcoin Error first appeared on BitcoinWorld .
5 Jun 2026, 00:45
Major US Banks Plan Deposit Token Network by 2027 to Counter Stablecoin Growth
BitcoinWorld Major US Banks Plan Deposit Token Network by 2027 to Counter Stablecoin Growth Four of the largest U.S. banks — JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo — are jointly developing a deposit token network designed for real-time payments, with a target launch in the first half of 2027. The initiative, first reported by The Wall Street Journal, represents a coordinated response by traditional finance to the expanding influence of crypto companies and stablecoins. What is a Deposit Token Network? The proposed network will be operated by The Clearing House, a payments infrastructure company owned by the largest commercial banks. Deposit tokens are essentially regulated bank deposits recorded on a blockchain, enabling near-instant settlement while keeping funds within the existing banking framework. Unlike stablecoins, which are typically issued by non-bank entities and backed by reserves held elsewhere, deposit tokens remain on the bank’s balance sheet and are subject to existing regulatory oversight. This distinction is critical. Banks favor deposit tokens because they preserve their current credit risk models and compliance structures. The tokens would be fully insured by the Federal Deposit Insurance Corporation (FDIC), offering depositors the same protections they have with traditional accounts. Why Banks Are Moving Now The push comes as stablecoins — digital tokens pegged to fiat currencies like the U.S. dollar — have seen rapid adoption for cross-border payments, remittances, and decentralized finance. Tether (USDT) and USD Coin (USDC) alone represent a combined market capitalization exceeding $150 billion, with transaction volumes rivaling major payment networks. Banks have watched this growth with concern. Stablecoins bypass traditional settlement systems, reducing fee revenue and weakening banks’ role as intermediaries. A deposit token network would allow banks to offer similar speed and programmability while keeping transactions within the regulated financial system. “The banks are not trying to copy crypto — they are trying to absorb its best features into the existing infrastructure,” said a payments industry analyst familiar with the discussions. “Deposit tokens give them the efficiency of blockchain without giving up control or regulatory clarity.” Potential for Future Stablecoin Issuance The report also noted that banks may eventually issue their own stablecoins if market demand justifies it. However, several banking executives have expressed skepticism about stablecoins’ utility beyond cross-border payments, questioning whether they offer meaningful advantages over deposit tokens for domestic transactions. Regulatory clarity remains a key variable. The Office of the Comptroller of the Currency (OCC) has previously issued guidance allowing banks to use blockchain for payments, but a comprehensive federal framework for stablecoins and deposit tokens has yet to pass Congress. The outcome of ongoing legislative efforts could accelerate or delay the network’s rollout. What This Means for Consumers and Businesses If the network launches as planned, businesses and eventually consumers could see faster settlement times for payments, reduced costs for cross-border transfers, and new programmable payment features — all within their existing bank accounts. The system would likely integrate with The Clearing House’s existing Real-Time Payments (RTP) network, which already processes instant payments for participating banks. For crypto companies, the development signals that traditional finance is preparing to compete directly on speed and functionality, rather than ceding ground to digital-native alternatives. It also raises questions about interoperability between bank-issued deposit tokens and public blockchain networks. Conclusion The planned deposit token network by JPMorgan, Bank of America, Citigroup, and Wells Fargo marks a significant strategic shift in how major banks approach blockchain technology. Rather than resisting crypto adoption, they are building regulated alternatives that retain the benefits of real-time settlement and programmability. The success of the initiative will depend on technological execution, regulatory developments, and whether consumers and businesses find deposit tokens more useful than existing stablecoins. The 2027 target gives the industry time to address these challenges — but the direction is now clear. FAQs Q1: How is a deposit token different from a stablecoin? A deposit token is a digital representation of a bank deposit recorded on a blockchain, fully regulated and FDIC-insured. A stablecoin is typically issued by a private company, backed by reserves held at banks or in treasuries, and is not directly insured by the FDIC. Deposit tokens remain on the issuing bank’s balance sheet, while stablecoins are liabilities of the issuer. Q2: Will consumers be able to use deposit tokens directly? Initially, the network is expected to focus on institutional and business-to-business payments. Consumer-facing applications would likely follow once the infrastructure is proven and regulatory approvals are secured. The system is designed to integrate with existing banking apps and payment interfaces. Q3: What role does The Clearing House play in this network? The Clearing House, which is owned by the largest U.S. banks, will operate the deposit token network. It already runs the Real-Time Payments (RTP) system used by many banks for instant settlements. The new network would extend that capability by adding blockchain-based tokenization while maintaining the same regulatory and operational standards. This post Major US Banks Plan Deposit Token Network by 2027 to Counter Stablecoin Growth first appeared on BitcoinWorld .
5 Jun 2026, 00:35
XRP Ledger 3.2.0 nears launch as core system shifts from rippled to xrpld
The XRP Ledger is preparing for one of its most significant infrastructure updates yet, as version 3.2.0 moves closer to mainnet deployment. This comes alongside a rebranding of its core server software from “rippled” to “xrpld.” According to recent developer updates and XRP Ledger Operations announcements, the upcoming release is part of a broader effort to strengthen network stability, improve security, and modernize the protocol’s underlying architecture. XRPL 3.2.0 rolls out naming shift as network prepares validators for mandatory upgrade On Thursday, June 4, the XRP Ledger Operations posted on X: “XRP Ledger 3.2.0 is coming soon!” They also revealed a key update to the network’s core software, noting that the XRPL’s main system will be renamed from “rippled” to “xrpld.” The development of 3.2.0 follows the successful activation of XRP Ledger version 3.1.3 , which went live in May 2026 and introduced a number of fixes to the NFTs, vault systems, permissioned domains, and lending protocol components. A key part of the 3.2.0 roadmap is the transition from the current naming of the ledger to a common reference implementation for all users and nodes. All infrastructure providers, validators, and node operators will be required to update their systems ahead of the migration to the new XRPL mainnet. The XRP Ledger Operations team noted, “This transition will require some updates for infrastructure operators.” The XRP Ledger Operations team has indicated that a detailed technical playbook is being developed to guide participants through the migration process, ensuring continuity of consensus and network participation during the upgrade window. In addition, the team said a detailed playbook is currently being developed to guide users through the upgrade process. The announcement was also accompanied by a GIF highlighting the upcoming transition. *]:pointer-events-auto [content-visibility:auto] supports-[content-visibility:auto]:[contain-intrinsic-size:auto_100lvh] R6Vx5W_threadScrollVars scroll-mb-[calc(var(--scroll-root-safe-area-inset-bottom,0px)+var(--thread-response-height))] scroll-mt-[calc(var(--header-height)+min(200px,max(70px,20svh)))]" dir="auto" data-turn-id="request-WEB:50176c9e-54eb-4e5e-924f-6687008cca6e-52" data-turn-id-container="request-WEB:50176c9e-54eb-4e5e-924f-6687008cca6e-52" data-testid="conversation-turn-8" data-scroll-anchor="false" data-turn="assistant"> CLI update confirms XRPL 3.2.0 rebrand as validators welcome core protocol upgrade The command-line interface (CLI) appears to have been updated to reflect the new software name, showing “xrpld version 3.2.0” during version checks. The visual also highlights the rebranding of the XRP Ledger’s core software package, alongside the upcoming release of the new version. The announcement was positively received by dUNL validator Vet, who stressed the importance of continued protocol development despite market volatility. He stated , “Market sentiment is temporary, but the core protocol improvements that our $XRP and other assets live on are permanent,” adding that the upcoming upgrade includes a major transition from “rippled” to “xrpld.” Vet also expressed appreciation for the development team, saying, “Grateful for the consistent work of all the XRP core developers.” XRP Ledger advances after 3.1.3 mainnet activation strengthens network reliability Version 3.2.0 follows the successful activation of XRP Ledger version 3.1.3 on the mainnet at ledger index 104,507,137 on May 27. The upgrade allowed for the amendment of fixCleanup3_1_3 and was intended to increase the long-term reliability of the network. At the time, nodes running older software versions were required to upgrade in order to remain eligible for consensus participation and continue operating on the network. Ripple CTO Emeritus David Schwartz also responded to key questions about the update, which ultimately passed with unanimous 100% consensus approval. XRP slides in price while on-chain data shows growing accumulation Meanwhile XRP has been slowly falling in price momentum since July 2025, falling from about $3.65 to around $1.20 by June 2026, a trend that has kept many retail investors on edge. At first glance XRP price action is still bearish. XRP closed May 2026 at $1.33, fell to $1.29 on June 1, dropped further down to $1.21 on June 2 and slipped back into the $1.18 range by June 4. In less than a week, this token lost roughly 11% of its value, and more than $8 billion of market capitalization because of a wider crypto sell-off that also brought Bitcoin down to around $61,300. But, there is a more complicated picture on the other hand when it comes to on-chain and market behavior. Over 25 million XRP were withdrawn from exchanges during this period, often interpreted as a sign that holders are putting their assets to long-term storage rather than selling them. At the same time, the number of wallets holding at least 10,000 XRP is at a record 332,230 addresses, the highest number ever recorded. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .
