4 Aug 2025, 18:50

Ant Group’s Topnod Launches 1–4 USD Blockchain Art; 4,088 Pieces Gone in 3 Hours

Key Takeaways: Ant Group’s move with Topnod indicates blockchain’s expansion into cultural and creative industries in China. The initiative could test demand for low‑priced blockchain‑verified collectibles in mainstream consumer markets. Integration with Alibaba’s broader ecosystem may accelerate adoption across commerce and digital services. Ant Group’s digital asset platform Topnod has launched its “Online Digital Art Exhibition,” according to a Sina Technology News report published on August 4. Unlike the B2C model adopted by other digital art marketplaces, the platform allows creators to upload and sell their artworks once they have passed copyright review and declaration. Each purchase is recorded with a unique blockchain identification number, providing permanent ownership to the buyer. Pre‑Sale and Public Sale Model Topnod said the exhibition adopts a “pre‑sale + public sale” structure. During pre‑sale, user interest helps determine whether the artwork will be issued, the quantity minted, and its pricing. Public sales then proceed with finalized editions. The pricing model, typically ranging between 8 and 28 yuan (about 1–4 USD), is designed as a small “tip‑like” mechanism for users to support their preferred artists. Within three hours of launch, 4,088 pieces were reserved by users, according to the report. Artists, including painter Dai Dunbang and recent graduates of art academies, are among the first group of participants. The platform said it intends to help creators gain visibility while receiving market feedback to support ongoing work. Support for Digital Art Creators A Topnod program manager said the platform will allocate internal and external traffic resources to promote the exhibition and retail creator shops. It will also provide support to help artists attract and manage fans. Topnod also plans to develop a digital artist ecosystem to foster collaboration among creators and integrate online and offline engagement. Ant Group is an affiliate of Alibaba Group , best known for operating Alipay, and has been expanding its presence in blockchain through initiatives focused on digital finance and asset verification. Ant Group was excited to participate in WAIC 2025 in Shanghai, where we showcased our comprehensive advancements in AI technologies and products, including the AI healthcare manager AQ and a series of AI large models. As Cyril Han, CEO of Ant Group, noted, “Ant Group is… pic.twitter.com/kMl6wqVrkf — Ant Group (@AntGroup) July 30, 2025 The company has developed multiple blockchain applications in supply chain management, cross‑border trade, and intellectual property protection. Topnod shows Ant Group’s ongoing strategy to integrate blockchain into consumer‑facing platforms, extending beyond payments into digital identity, data services, and now cultural content. Frequently Asked Questions (FAQs) What role could blockchain play in intellectual property enforcement through Topnod? Unique blockchain IDs provide verifiable ownership records, potentially reducing counterfeit risks and strengthening copyright protection for digital artists. Could Topnod’s model influence global digital art markets? If successful, the model could encourage other markets to adopt blockchain‑verified collectibles with micro‑pricing to expand participation. What challenges might the platform face? Adoption could depend on demand, user trust, regulatory approval, and whether low‑cost digital art translates into sustainable income for creators. The post Ant Group’s Topnod Launches 1–4 USD Blockchain Art; 4,088 Pieces Gone in 3 Hours appeared first on Cryptonews .

4 Aug 2025, 18:44

CrediX DeFi Protocol Exploited as Hacker Gains Admin Rights, Drains Pool

DeFi lending protocol CrediX suffered a $4.5 million exploit after attackers gained administrative control of the project’s multisig wallet and abused bridge privileges to mint unbacked collateral tokens. The breach occurred six days before detection when the compromised admin account was granted multiple high-level roles, including pool admin, bridge controller, and emergency admin permissions. Source: SlowMist on X Blockchain security firms SlowMist and PeckShield identified that the attacker used Tornado Cash-funded addresses to bridge funds to the Sonic network before exploiting the BRIDGE role to mint acUSDC tokens directly. The hacker then borrowed large amounts against the worthless collateral, draining approximately $2.64 million from the protocol’s lending pools. Attack Mirrors Previous Exchange Exploits Using Admin Compromise The CrediX exploit follows a pattern established by major crypto hacks, including the $234 million WazirX breach in July 2024 . Both attacks involved compromised administrative access that bypassed normal security measures through legitimate-appearing transactions from authorized accounts. Security analysis revealed that the attacker’s address 0xF321***662e held extensive privileges across CrediX’s infrastructure. The POOL_ADMIN, BRIDGE, ASSET_LISTING_ADMIN, EMERGENCY_ADMIN, and RISK_ADMIN roles provided comprehensive control over protocol operations and asset management. Today's @CrediX_fi hack is due to compromised admin account 0xF321683831Be16eeD74dfA58b02a37483cEC662e, which has a number of roles, including POOL_ADMIN, BRIDGE, ASSET_LISTING_ADMIN, EMERGENCY_ADMIN, and RISK_ADMIN. And the BRIDGE role is abused to drain/borrow pool assets… https://t.co/JGuLmh8zWu pic.twitter.com/0jmAuvtcJv — PeckShield Inc. (@peckshield) August 4, 2025 The bridge role abuse allowed direct minting of collateral tokens without backing assets, creating artificial value that supported massive borrowing positions. After draining the pools, most stolen funds were bridged back to the Ethereum mainnet with no subsequent movement detected by monitoring systems. CrediX immediately disabled its website to prevent additional user deposits while directing existing users to withdraw funds directly through smart contracts. The protocol had previously secured a $60 million credit line in 2023, making it a major player in institutional DeFi lending markets. The attack methodology resembles the WazirX hack, where malicious actors manipulated multisig wallet interfaces to trick authorized signers into approving compromised smart contract upgrades. Both incidents leveraged open vulnerabilities in known administrative access controls and multisig security implementations. Crypto Security Deteriorates Amid Rising Exploit Frequency The CrediX breach adds to crypto’s devastating 2025 security record, with July losses reaching $142 million across 17 major incidents , according to PeckShield data. July crypto hack losses surge 27% to $142 million with CoinDCX's $44 million insider breach and GMX's $42 million exploit leading victims. #July #CryptoHack https://t.co/4UCMKaxUvI — Cryptonews.com (@cryptonews) August 1, 2025 The 27.2% increase from June’s $111.6 million reversed a temporary decline in hack-related losses. Major July exploits included Indian exchange CoinDCX losing $44.2 million through insider involvement and GMX protocol suffering $42 million in re-entrancy attacks. The CoinDCX incident involved employee Rahul Agarwal, whose compromised laptop provided hackers with system access after receiving malicious files from German contacts. Physical violence against crypto holders escalated alongside digital attacks, with 32 “wrench attacks” reported globally in 2025. For example, France experienced nearly one-third of incidents , including kidnapping attempts targeting crypto executives and their family members, with ransom demands reaching €7 million. Crypto investors also lost over $2.2 billion in 2025’s first half through 344 separate incidents, already exceeding all of 2024’s security losses. Wallet-related breaches accounted for $1.7 billion across 34 attacks, while phishing scams stole $410 million in 132 incidents. The WazirX exchange remains in legal proceedings following its 2024 hack, with Singapore’s High Court recently allowing creditor revoting on an amended restructuring plan . The court reversal provides hope for affected users who have been unable to access funds for nearly one year. Recovery efforts across all 2025 incidents have returned $187 million through law enforcement action, white-hat agreements, and exchange cooperation. However, net losses still total approximately $2.29 billion with an average incident loss of $7.1 million. For CrediX, the protocol has announced a full refund for all affected users within 24-48 hours, with a post-mortem report expected to be released after restoration. All users funds will be recovered in full within 24-48 hours — CrediX (@CrediX_fi) August 4, 2025 The post CrediX DeFi Protocol Exploited as Hacker Gains Admin Rights, Drains Pool appeared first on Cryptonews .

4 Aug 2025, 18:25

Bybit Expands USDT0 Support to HyperEVM, Corn, and Berachain — Unlocking Seamless Stablecoin Access Across Ecosystems

BitcoinWorld Bybit Expands USDT0 Support to HyperEVM, Corn, and Berachain — Unlocking Seamless Stablecoin Access Across Ecosystems DUBAI, UAE, Aug. 5, 2025 /PRNewswire/ — Bybit , the world’s second-largest cryptocurrency exchange by trading volume, has expanded support for USDT0 , the unified liquidity network for the world’s most widely used stablecoin Tether (USDT), enabling native deposits and withdrawals on HyperEVM, Corn, and Berachain. This move accelerates industry momentum toward unified stablecoin liquidity and strengthens the infrastructure for truly interoperable decentralized finance (DeFi). USDT0, built on LayerZero’s Omnichain Fungible Token (OFT) standard, eliminates the need for fragmented bridges, wrapped assets, and duplicated liquidity pools. With this integration, Bybit becomes one of the first major centralized platforms to offer seamless access to native, cross-chain stablecoin functionality across three of the industry’s most innovative Layer 1 ecosystems. A New Standard for Stablecoin Liquidity The addition of USDT0 support on HyperEVM, Corn, and Berachain delivers critical advantages: Capital Efficiency: Unified USDT liquidity across chains, with no synthetic or bridged assets Frictionless UX: Native transfers with provable 1:1 backing and no trust assumptions Ecosystem Growth: Immediate access to institutional-grade liquidity for new and emerging chains USDT0 is already live on Arbitrum, Optimism, Unichain, and others — and its expansion to HyperEVM, Corn, and Berachain further cements its role as the next-generation stablecoin infrastructure. Seamless Onboarding, Exclusive Rewards To celebrate this milestone, Bybit has launched a limited-time campaign offering: Zero-fee withdrawals for USDT0 on HyperEVM, Corn, and Berachain Boosted staking rewards up to 100% APR for eligible deposits Campaign runs from August 4, 2025, until further notice. #Bybit / #TheCryptoArk / #IMakeIt About Bybit Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com . For more details about Bybit, please visit Bybit Press For media inquiries, please contact: [email protected] For updates, please follow: Bybit’s Communities and Social Media Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube About USDT0 USDT0, the unified liquidity network for USDT, simplifies cross-chain movement without fragmented pools or complex bridges. As the unified gateway for USDT interoperability and expansion, USDT0 simplifies cross-chain liquidity, enhances accessibility, and unlocks new use cases for Tether holders, businesses, and DeFi platforms. With a focus on efficiency and scalability, USDT0 is redefining how USDT operates across networks. For more information, visit USDT0.to or follow us on Twitter @USDT0 . This post Bybit Expands USDT0 Support to HyperEVM, Corn, and Berachain — Unlocking Seamless Stablecoin Access Across Ecosystems first appeared on BitcoinWorld and is written by chainwire

4 Aug 2025, 18:24

Bybit Expands USDT0 Support to HyperEVM, Corn, and Berachain — Unlocking Seamless Stablecoin Access Across Ecosystems

DUBAI, UAE, Aug. 5, 2025 /PRNewswire/ — Bybit , the world’s second-largest cryptocurrency exchange by trading volume, has expanded support for USDT0 , the unified liquidity network for the world’s most widely used stablecoin Tether (USDT), enabling native deposits and withdrawals on HyperEVM, Corn, and Berachain. This move accelerates industry momentum toward unified stablecoin liquidity and strengthens the infrastructure for truly interoperable decentralized finance (DeFi). USDT0, built on LayerZero’s Omnichain Fungible Token (OFT) standard, eliminates the need for fragmented bridges, wrapped assets, and duplicated liquidity pools. With this integration, Bybit becomes one of the first major centralized platforms to offer seamless access to native, cross-chain stablecoin functionality across three of the industry’s most innovative Layer 1 ecosystems. A New Standard for Stablecoin Liquidity The addition of USDT0 support on HyperEVM, Corn, and Berachain delivers critical advantages: Capital Efficiency: Unified USDT liquidity across chains, with no synthetic or bridged assets Frictionless UX: Native transfers with provable 1:1 backing and no trust assumptions Ecosystem Growth: Immediate access to institutional-grade liquidity for new and emerging chains USDT0 is already live on Arbitrum, Optimism, Unichain, and others — and its expansion to HyperEVM, Corn, and Berachain further cements its role as the next-generation stablecoin infrastructure. Seamless Onboarding, Exclusive Rewards To celebrate this milestone, Bybit has launched a limited-time campaign offering: Zero-fee withdrawals for USDT0 on HyperEVM, Corn, and Berachain Boosted staking rewards up to 100% APR for eligible deposits Campaign runs from August 4, 2025, until further notice. #Bybit / #TheCryptoArk / #IMakeIt About Bybit Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com . For more details about Bybit, please visit Bybit Press For media inquiries, please contact: [email protected] For updates, please follow: Bybit’s Communities and Social Media Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube About USDT0 USDT0, the unified liquidity network for USDT, simplifies cross-chain movement without fragmented pools or complex bridges. As the unified gateway for USDT interoperability and expansion, USDT0 simplifies cross-chain liquidity, enhances accessibility, and unlocks new use cases for Tether holders, businesses, and DeFi platforms. With a focus on efficiency and scalability, USDT0 is redefining how USDT operates across networks. For more information, visit USDT0.to or follow us on Twitter @USDT0 .

4 Aug 2025, 18:09

CrediX Loses $4.5M in Hack Due to Compromised Admin Account

CrediX, a decentralized exchange that lets people trade synthetic digital dollars, USDC, without a middleman, has just suffered a serious hack. Attackers were able to steal around $4.5 million after gaining access to a compromised administrator account. As revealed , the account had access to some of the most powerful controls within the system. The event has triggered panic among investors and users. The protocol’s development team has yet to provide clear answers or a recovery plan. Hacker Fakes Tokens and Drains Millions from CrediX The exploit started when an attacker took over an admin account on CrediX. This account had very wide permissions across the platform. It could control pools, move assets, handle emergencies, and change risk settings. With this level of access, the attacker could carry out operations that usually need several approvals. The hacker was able to create a large amount of fake USDC tokens. For context, acUSDC is a made-up version of USDC that only works inside CrediX and it is not backed by real assets. The attacker then used the fake tokens to borrow real funds from the platform’s pools. After that, they moved the real assets out and stole funds that users had entrusted to the platform. This event has added to the growing list of 2025 DeFi security breaches. Website Goes Down, Investors Left Confused After the attack, CrediX quickly took down its website. The team advised users to bypass the standard site and use smart contracts directly to access their funds. This shows how serious the hack really was. The platform did not have backup systems in place to remove or limit the stolen permissions, so the developers were forced to take the entire interface offline. This situation has caused fear and confusion among users, many of whom are unsure about the safety of their assets. So far, the developers have not released any full explanation, audit report, or timeline for fixing the problem. As a result, investors are left with little information and growing doubts. Collapse of Trust in the Protocol The damage caused by this breach goes beyond the stolen funds. Trust in the entire CrediX protocol has been deeply affected. The acUSDC token, which played an important role in the platform, has lost its credibility since it was used to drain the pools without proper backing. Other tokens linked to CrediX, including those used for governance or utility, are also likely to lose value. Developers and users now question the safety of CrediX’s smart contracts. Experts said that the fact that one account was able to act with such power across different areas of the system shows a major design flaw. In decentralized finance , there is always risk, but this kind of setup creates a single point of failure that can bring down the entire platform if compromised. The post CrediX Loses $4.5M in Hack Due to Compromised Admin Account appeared first on TheCoinrise.com .

4 Aug 2025, 18:00

What Is Pump.fun? What To Know About How This Platform Works

Curious about Pump.fun? Get a clear breakdown of how the platform works, from creating new tokens to trading them on the Solana blockchain.