Invest ideasNews
26 Feb 2026, 23:30
'Upgraded Tornado Cash' Foom.Cash faces almost $2.3M loss in exploit
Foom.Cash, an Ethereum-based privacy protocol that positioned itself as an evolution of the sanctioned mixer Tornado Cash, has reportedly lost approximately $2.26 million in tokens after an attacker exploited a flaw in its cryptographic verification system, according to alerts issued by multiple blockchain security firms. The attack, which struck contracts on both the Ethereum and Base networks, drained 24,283,773,519,600 FOOM tokens, the platform’s native asset, in what security researchers have described as a copycat exploit replicating a near-identical vulnerability targeted in a separate protocol just days earlier. A single transaction on the Base network accounted for approximately $427,000 in losses attributed directly to the malicious actor. Transactions on Ethereum totaling around $1.83 million appear to have been part of a white-hat rescue operation. How did the exploit happen? BinanceLabs-led Web3 security network, GoPlus Security , flagged the attack, reporting that an incorrect verification key configuration allowed the attacker to forge zkSNARK proofs. This allowed them to fabricate cryptographic credentials that the protocol accepted as valid and then extract large volumes of tokens from the compromised contracts. Blockchain security platform, Certik, wrote on X , “The root cause may be the delta2==gamma2 setting of the Groth16 verifier at 0xc043865fb4D542E2bc5ed5Ed9A2F0939965671A6. This enables the exploiter to compute ‘pC’ needed for different ‘nullifierHash’ while all other inputs are the same, and repeatedly collect ZOOM tokens.” In short, a protocol whose marketing emphasized the near-impossibility of reversing its cryptographic protections was undone by a misconfiguration. BlockSec’s Phalcon monitoring system, which detected suspicious transactions across both networks in real time, stated that the incident appeared to be an imitation attack. The firm noted that the attack exploited the same root cause previously identified in the Veil Cash breach, which happened a few days prior. Although it is worth mentioning that the Veil Cash breach was more limited in scale, with losses contained to a small number of ETH, reportedly 2.9 ETH. What is Foom.Cash? Foom.Cash positions itself as a “ZKProof-powered Private Lottery Protocol” that combines the anonymity of Zcash, which operates as a standalone privacy chain, the accessibility of Ethereum’s DeFi ecosystem, and a built-in randomized reward mechanism. It is touted as an upgrade to Tornado Cash and an alternative to Zcash on Ethereum. Tornado Cash was sanctioned by the US Treasury in 2022, but the department lifted its sanctions on the platform in March 2025. According to the platform, it processes more daily transactions than Tornado Cash, boasts over eight million dollars in liquidity, and generates annual returns of 50 to 80% for liquidity providers. Privacy in DeFi has been experiencing renewed interest, with Zcash registering a significant price increase in recent months, and Foom.Cash sought to capitalize on that trend by offering privacy natively within Ethereum’s existing infrastructure. The platform used a specific variant called zkSNARKs, which is one of the key ingredients behind privacy guarantees in well-established protocols such as Zcash. What is Foom.Cash doing to recover funds and resolve the exploit? So far, the only mention of a recovery is tied to the second transaction of about $1.83 million, which security firms report to have been part of a white-hat rescue operation. However, the Foom.Cash team has yet to mention or acknowledge the hack. So, as of the time of writing, there is no information on the extent of the impact from the protocol or what the protocol is doing to mitigate future attacks. The whitehat recovery hints that the team may be working behind the scenes to recover the funds and resolve the underlying issues. Want your project in front of crypto’s top minds? Feature it in our next industry report, where data meets impact.
26 Feb 2026, 23:30
Why is Bitcoin’s ‘MOAR’ narrative heating up? ETFs, whales & more…
Bitcoin shows strength as rising demand reshapes momentum inside a tightening range.
26 Feb 2026, 23:30
XRP Price Prediction: Ripple Deploys Billions to Build a Bridge Between Banks and Crypto – Can XRP Reach $1,000?
Ripple is going all in on infrastructure , and this is positively affecting long-term XRP price prediction s . Brad Garlinghouse says the company has deployed around $4B into crypto since 2023 through acquisitions and strategic bets. The focus is to build the rails that connect traditional finance to blockchain systems. Ripple has expanded into prime brokerage and treasury services, folding XRP and its RLUSD stablecoin into corporate workflows. With deals like Hidden Road (now Ripple Prime) and GTreasury (now Ripple Treasury), the company is positioning itself as core financial plumbing rather than just a token brand. The acquisition that excites me the most is Hidden Road (acquired in April 2025 for $1.25 billion, closed in October 2025 and rebranded as Ripple Prime). Why this one stands out above the others: It brings massive institutional-grade prime brokerage capabilities, including… pic.twitter.com/3OSsO690qm — Scotty (@Scottc589) February 21, 2026 The target market is banks, hedge funds, and multinational treasurers that want payments, FX, liquidity, and digital assets under one roof. XRP Price Prediction: Can XRP Really Reach $1,000? Under the current market structure, that is highly unrealistic. A $1,000 XRP would imply a market cap that dwarfs today’s global crypto liquidity. It would require deep global banking integration and a structural shift in cross-border finance. That said, Ripple’s institutional push strengthens the long-term case. If banks increasingly rely on Ripple-powered systems for settlement and liquidity, XRP’s role as a bridge asset could expand. A four-figure price is not a near-term scenario at all. Source: XRPUSD / TradingView XRP actually did the opposite of what many expected. Instead of slipping back inside the descending channel, price tapped the former trendline and bounced cleanly from it. The $1.30 zone held again, and buyers stepped in right where they needed to. That keeps the structure constructive in the short term. Now the real test is $1.61. That level has already rejected price once and sits as the immediate ceiling. A sustained push and close above $1.61 would shift short term momentum decisively and likely open the path toward $1.90 next. From there, the broader upside targets at $2.10 and $2.50 start coming back into play. For now, the key is sustainability. Holding above the former channel and building pressure under $1.61 would keep the bullish setup alive. Lose that structure and fall back below $1.30, and the breakout narrative weakens. $SUBBD Can This AI-Powered Creator Platform Become the Next Big Crypto Play of 2026? SUBBD ($SUBBD) is building a creator economy that actually makes sense. It blends AI tools with blockchain in one clean platform. No more bouncing between five different apps just to create, edit, and post. Everything lives inside one ecosystem. The $SUBBD token sits at the core. It powers subscriptions, unlocks exclusive content, and gives holders access to governance, staking rewards, and premium AI features. With 2,000+ influencers already onboard and a combined reach of 250 million followers, the network effect is already forming. If adoption keeps scaling, $SUBBD starts looking less like a small-cap experiment and more like a serious bet on the future of AI-driven creator platforms. You can buy $SUBBD at its discounted presale price of $0.057520 by visiting the official SUBBD website . Link up your wallet (e.g., Best Wallet ) and either swap USDT or ETH for this token or use a bank card to invest. Visit the Official SUBBD Website Here The post XRP Price Prediction: Ripple Deploys Billions to Build a Bridge Between Banks and Crypto – Can XRP Reach $1,000? appeared first on Cryptonews .
26 Feb 2026, 23:25
Magic Eden’s Strategic Pivot: Shutting Down Bitcoin and EVM Marketplaces to Fortify Solana Focus
BitcoinWorld Magic Eden’s Strategic Pivot: Shutting Down Bitcoin and EVM Marketplaces to Fortify Solana Focus In a significant strategic consolidation, the prominent NFT marketplace Magic Eden has announced the imminent shutdown of its Bitcoin and EVM-based marketplaces, a decisive move that underscores the platform’s commitment to its Solana foundation. This development, first reported by Blockspace on March 15, 2025, signals a major shift in the competitive landscape of digital collectibles, prompting analysis from industry observers worldwide. Magic Eden Announces Major Platform Restructuring Magic Eden confirmed it will discontinue operations for its dedicated Bitcoin Ordinals marketplace and its marketplace supporting Ethereum Virtual Machine (EVM) chains, which include networks like Ethereum, Polygon, and Avalanche. Consequently, the platform will also sunset support for its proprietary cross-chain wallet. This restructuring represents a strategic retreat from broader multi-chain ambitions to double down on its core strength: the Solana ecosystem. The company will continue full support for Solana-based assets and non-fungible tokens, reinforcing its position as a leading venue for that blockchain’s vibrant NFT community. This decision arrives during a period of intense competition and evolving market dynamics within the NFT sector. Furthermore, it highlights the ongoing challenge for platforms to manage resources effectively across multiple, technically distinct blockchain environments. The move allows Magic Eden to concentrate its engineering, marketing, and community resources solely on the Solana network, where it first achieved market leadership. Context and Background of the Strategic Shift Magic Eden launched in 2021 and rapidly ascended to become the dominant NFT marketplace on the high-throughput Solana blockchain. Its user-friendly interface and low transaction fees attracted a massive user base. However, as the NFT market expanded, the platform embarked on an aggressive multi-chain expansion strategy in 2023 and 2024. This strategy aimed to capture market share across the burgeoning Bitcoin Ordinals ecosystem and the established EVM chain landscape. Despite initial fanfare, these expansions faced considerable hurdles. The technical architecture of Bitcoin Ordinals differs fundamentally from Solana’s, requiring separate development and maintenance efforts. Similarly, competing on EVM chains meant going head-to-head with entrenched giants like OpenSea and Blur, which command significant liquidity and network effects. Analysts suggest that maintaining feature parity and competitive liquidity across three divergent technological stacks proved resource-intensive and ultimately unsustainable against focused competitors. Resource Allocation: Engineering teams were split across multiple codebases. Market Liquidity: Volume on Bitcoin and EVM markets lagged behind Solana. Competitive Pressure: Specialized platforms dominated each niche. Expert Analysis on the NFT Market Consolidation Industry analysts view this move as a pragmatic example of strategic refocusing rather than a failure. “The NFT marketplace space is maturing,” notes a report from Delphi Digital, a leading crypto research firm. “We are moving past the ‘everything everywhere’ phase. Successful platforms are now those that achieve deep liquidity and superior user experience within a specific vertical or ecosystem. Magic Eden’s decision to retreat to its home turf is a classic playbook move for optimizing profitability and defending its core market leadership.” Data from CryptoSlam, an NFT analytics aggregator, supports this rationale. In Q4 2024, over 85% of Magic Eden’s total trading volume originated from its Solana marketplace. The Bitcoin and EVM segments contributed less than 15% combined, indicating a disproportionate drain on resources for minimal return. This data-driven insight likely formed the cornerstone of the executive team’s decision-making process. Immediate Impacts and User Guidance The shutdown process will follow a structured timeline to ensure a orderly transition for affected users. Magic Eden has committed to providing clear communication regarding specific sunset dates for deposit, trading, and withdrawal functionalities on the closing marketplaces. Users holding assets on the soon-to-be-discontinued Bitcoin and EVM marketplaces must take proactive steps to secure their digital collectibles. Critically, users should withdraw any NFTs or funds from the Magic Eden cross-chain wallet before support ends. The platform will likely recommend migrating assets to other reputable, chain-specific wallets like Phantom for Solana, MetaMask for EVM chains, or UniSat for Bitcoin Ordinals. Failure to withdraw assets before the termination date could result in permanent loss of access, a standard risk when platforms wind down services. Affected Service Status User Action Required Bitcoin (Ordinals) Marketplace Shutting Down Withdraw NFTs to a self-custody wallet EVM Chains Marketplace Shutting Down Withdraw NFTs to a self-custody wallet Magic Eden Cross-Chain Wallet Discontinued Support Withdraw all assets to external wallets Solana Marketplace Continuing Operations No action required for Solana assets The Broader Implications for the NFT Ecosystem Magic Eden’s pivot reflects a broader trend of specialization within the Web3 infrastructure sector. Initially, many platforms pursued a “one-stop-shop” vision. However, the technical complexity and community-specific needs of different blockchains have made deep, focused expertise more valuable than broad, shallow support. This event may encourage other multi-chain projects to evaluate their own resource allocation and competitive advantages. For the Solana ecosystem, the move is largely positive. It ensures Magic Eden’s undivided attention and investment will remain on improving the Solana NFT experience, potentially accelerating innovation in areas like compressed NFTs, dynamic metadata, and enhanced creator tools. For the Bitcoin Ordinals and EVM communities, it creates a vacuum that specialized, native platforms are already poised to fill, potentially leading to healthier competition and innovation within those niches. Conclusion Magic Eden’s decision to shut down its Bitcoin and EVM marketplaces marks a pivotal moment of strategic realignment in the NFT industry. By consolidating its resources back to the Solana blockchain, the platform aims to fortify its market leadership and enhance its core product offering. This move, driven by data and market realities, underscores the maturation of the digital assets space, where focused execution often triumphs over expansive ambition. For users, vigilance during the transition period is essential, while for the market, it signals a continued evolution towards ecosystem-specific specialization and robust, sustainable business models. FAQs Q1: When exactly will Magic Eden’s Bitcoin and EVM marketplaces close? Magic Eden has announced the shutdown but has not yet released the final closure dates. The platform will communicate a detailed timeline directly to users. Users should monitor official Magic Eden announcements for specific deadlines. Q2: What happens to my NFTs on the closing marketplaces? Your NFTs are stored on their respective blockchains (Bitcoin or an EVM chain), not on Magic Eden’s website. However, you must withdraw them from Magic Eden’s marketplace interface to a self-custody wallet you control (like UniSat or MetaMask) before support ends to maintain access. Q3: Is the Solana marketplace on Magic Eden affected? No, the Solana marketplace is unaffected and will continue operating normally. This strategic shift is designed to strengthen Magic Eden’s focus and resources on the Solana NFT ecosystem. Q4: Why is Magic Eden making this change? The primary reasons are strategic resource allocation and market focus. Data indicated that the Bitcoin and EVM marketplaces generated a small fraction of total volume while consuming significant development and operational resources. The company is refocusing on its core, market-leading Solana business. Q5: What should I do with my Magic Eden cross-chain wallet? You must withdraw all assets (NFTs and cryptocurrency) from the Magic Eden cross-chain wallet to an external, self-custody wallet before support is discontinued. After the shutdown, you may lose access to assets left in the wallet. This post Magic Eden’s Strategic Pivot: Shutting Down Bitcoin and EVM Marketplaces to Fortify Solana Focus first appeared on BitcoinWorld .
26 Feb 2026, 23:19
Block Lays Off 4,000+ Employees: AI Impact
Jack Dorsey's Block is laying off 4,000+ employees due to AI. Restructuring begins with a generous severance package. While BTC PERP rises %8,40, GD Culture is using its 7.500 BTC. Technical: 67K p...
26 Feb 2026, 23:01
'Private Bitcoin' to Launch on Starknet With Zcash-Like Features
Starknet revealed a Bitcoin-based asset aimed at enabling people to better maintain their privacy on the Ethereum layer-2 scaling network.
