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28 Jan 2026, 15:54

SwapNet loses $13.4 million after input validation flaw enables asset drain

Blockchain security firm BlockSec has released a technical analysis of the attacks that hit two decentralized finance protocols, resulting in losses of more than $17 million. SwapNet, a DEX aggregator, suffered losses of over $13.4 million across Ethereum, Arbitrum, Base, and Binance Smart Chain, while Aperture Finance, which manages concentrated liquidity positions, lost an estimated $3.67 million in a concurrent but unrelated incident. “The victim contracts expose an arbitrary-call capability due to insufficient input validation, allowing attackers to abuse existing token approvals and invoke transferFrom to drain assets,” BlockSec stated in a summary of its analysis on X. The security firm stated , “These incidents serve as a reminder that flexibility in contract design must be carefully balanced with strict call constraints, especially in closed-source systems where external review is limited.” What was behind SwapNet’s vulnerability? In the SwapNet case, the vulnerability came from the function 0x87395540(), which lacked proper validation on critical inputs. By replacing expected router or pool addresses with token addresses such as USDC, attackers tricked the victim contract into treating tokens as valid execution targets. This led to low-level calls being executed with attacker-controlled calldata, enabling the victim contract to perform calls that allowed the attacker to siphon all approved assets. The vulnerability impacted users of Matcha Meta , a DeFi exchange meta-aggregator, who had disabled the platform’s “One-Time Approval” setting and granted infinite approval directly to SwapNet contracts. The largest single loss came from one user who lost around $13.34 million . In total, 20 users were affected. The attack began on Base at block 41289829, prompting SwapNet to pause contracts on Base 45 minutes after the initial exploit was detected. It also paused contracts on other chains shortly after; however, during that window, an additional 13 users were affected across three chains. Similar weakness hit Aperture Finance Aperture Finance, which manages Uniswap V3 liquidity positions on behalf of users, fell victim to the same class of vulnerability in its function 0x67b34120(). When this function was invoked, an internal function 0x1d33() executed low-level calls using calldata supplied by users without enforcing strict constraints on the call target or function selector. This enabled attackers to construct malicious calldata that siphoned ERC-20 tokens and also approved Uniswap V3 position NFTs. Users who had authorized approvals for “Instant Liquidity Management” features were the ones at risk from this attack. In one representative attack on Ethereum, the attacker created a contract that invoked the vulnerable function with just 100 wei of ETH. After wrapping the native tokens into WETH, the malicious call to WBTC.transferFrom() was executed, allowing the attacker to drain approved tokens while passing a balance check by specifying their own swap output value. What changes are the affected platforms making? The incidents have prompted both protocols to reassess their approach to security. First, both protocols asked their users to revoke approvals using tools such as Revoke.cash. Matcha Meta stated that it has disabled the toggle that allows users to turn off One-Time Approval. It has also removed SwapNet from its platform until further notice, while stating that “Erring on the side of customizability over security is not a posture we will allow moving forward.” Aperture Finance stated that it has disabled all affected web application functionalities. On its recovery efforts, it stated, “We are working closely with top-tier forensic security firms and are coordinating with law enforcement to trace funds,” while adding that it is also establishing channels to negotiate the return of funds as well. Want your project in front of crypto’s top minds? Feature it in our next industry report, where data meets impact.

28 Jan 2026, 15:30

KuCoin Partners with Tadej Pogačar in One of the Few Value-Driven Collaborations Between Crypto and Elite Cycling

VIENNA, Austria, Jan 28 — KuCoin, a leading global crypto platform built on trust, today announced a strategic partnership with world-class cyclist Tadej Pogačar. The collaboration was officially unveiled in Vienna and marks the first time a top-tier global crypto exchange and a world-class professional cyclist have come together in a value-driven, trust-led partnership. Built around the theme “Trust, Proven by Performance.”, the partnership reflects a shared belief that trust is not declared, but earned through long-term performance, professionalism, and discipline. Rather than a transactional sponsorship, the collaboration represents a rare alignment of values between two leaders operating at the highest level of their respective fields. For KuCoin, trust has been built over eight years through sustained investment in security infrastructure, regulatory alignment, and operational resilience across global markets. As regulatory standards continue to evolve, KuCoin has strengthened its compliance framework and governance capabilities, reinforcing its commitment to building a secure and trusted digital-asset platform for a growing global user base. For Pogačar, trust is earned through consistent results on cycling’s biggest stages, under extreme physical and mental pressure. Widely regarded as one of the most accomplished cyclists of his generation, he is equally recognized for his emphasis on safety, preparation, and professional discipline — principles that underpin long-term success in elite sport. “At the highest level of cycling, trust is built through preparation, consistency, and a relentless focus on safety,” said Tadej Pogačar. “You earn it over time, through performance and responsible decision-making under pressure. That mindset strongly resonates with how KuCoin approaches trust and security.” KuCoin CEO BC Wong said the partnership highlights the growing connection between elite sport and responsible innovation in digital finance. “This partnership is built on a shared belief that trust is earned through long-term performance and professionalism,” BC said. “Tadej represents excellence achieved through discipline and consistency at the very highest level. At KuCoin, we apply the same principles as we continue to strengthen security, compliance, and governance — helping bring crypto to a broader, more mainstream audience.” As one of the few collaborations of its kind, the partnership demonstrates how trust—built through sustained performance and verifiable results—can bridge emerging digital technologies with established global communities, supporting the responsible adoption of crypto worldwide. It follows KuCoin’s broader trust-led collaborations across sport and culture, including Adam Scott and Tomorrowland, and reflects a consistent brand philosophy centered on long-term excellence and credibility. About KuCoin Founded in 2017, KuCoin is a leading global crypto platform trusted by over 40 million users across 200+ countries and regions. The platform delivers innovative and compliant digital asset services, offering access to 1,000+ listed tokens, spot and futures trading, institutional wealth management, and a Web3 wallet. Recognized by Forbes and Hurun, KuCoin holds SOC 2 Type II and ISO 27001:2022 certifications, underscoring its commitment to top-tier security. With AUSTRAC registration in Australia and a MiCA license in Austria, KuCoin continues expanding its regulated footprint under CEO BC Wong, building a reliable and trusted digital-asset ecosystem. Learn more: www.kucoin.com About Tadej Pogačar Tadej Pogačar is one of the world’s leading professional cyclists and among the most accomplished athletes of his generation. A four-time Tour de France champion and the current UCI Road World Champion, he is widely regarded as one of the greatest riders of the modern cycling era. Known for his consistency, discipline, and technical precision, Pogačar has achieved sustained success at the highest level of professional cycling, with a strong emphasis on safety, preparation, and long-term performance. His approach reflects professionalism, responsibility, and a commitment to sustainable excellence in elite sport. The post KuCoin Partners with Tadej Pogačar in One of the Few Value-Driven Collaborations Between Crypto and Elite Cycling appeared first on Cryptonews .

28 Jan 2026, 15:26

-45% For Bitcoin: Hidden $62,000 BTC Price Point Resurfaces for Binance

Bitcoin is flying above $90,000, but CryptoQuant just dragged $62,000 back into the limelight, an untouched cost level on Binance that has never been tested in the ETF era.

28 Jan 2026, 15:13

Binance Founder CZ Fires Back at FUD Over ‘Buy and Hold’ Tweet — Here’s What He Really Meant

Binance founder Changpeng “CZ” Zhao has pushed back against growing criticism on social media after a short comment about “buy and hold” investing sparked renewed debate over market losses, exchange responsibility, and his influence on crypto markets. The controversy traces back to a post Zhao shared on January 25, in which he said that, based on his experience, few trading strategies outperform a simple “buy and hold” approach, adding that it was not financial advice. I've seen many different trading strategies over the years, very few can beat the simple "buy and hold", which is what I do. Not financial advice. — CZ BNB (@cz_binance) January 25, 2026 The remark quickly circulated across crypto social media, with some users interpreting it as a blanket endorsement of holding any token listed on major exchanges regardless of quality or market conditions. CZ Defends Comments as Critics Link Losses to Market Crash As prices continued to struggle across much of the market, critics argued that the message ignored the reality that many tokens never recover once they enter prolonged downturns. On Sunday, Zhao responded directly to what he described as “twisted FUD” around the comment. Writing on X, he clarified that the statement was never meant to apply to every cryptocurrency ever created. 4. Have seen some twisted FUD on this "buy and hold" tweet. It obviously does not apply to every coin. If you "buy and hold" all crypto ever created, you know how your portfolio will perform. Same as if you bought every internet or AI projects/companies… In any industry,… https://t.co/ipXIOCLH6m — CZ BNB (@cz_binance) January 27, 2026 He argued that buying and holding all assets in any industry would inevitably lead to poor performance, since most projects fail while a small number generate outsized returns. This reaction was preceded by a series of aggressive responses, such as harshly written messages accusing Zhao and Binance of market control, liquidations, and misinformed communication with the population. Other users have pegged their criticism on the October 10 market crash , which erased tens of billions of dollars in leveraged positions in crypto. Can Anyone Really Predict a Long-Term Crypto Winner? Changpeng Zhao Weighs In Buy-and-hold questions also arose again in the token listing. Zhao responded to a user when they inquired whether exchanges should just include assets that one can hold long-term by stating that nobody can credibly tell what projects will be successful several years later. 如果这个逻辑， 纳斯达克从1990年开始，就上10个（现在）头部的互联网公司就好了？曾经有成千上万个互联网创业公司，30年前怎么知道哪十个是最后的巨头呢？ 没人能预测项目未来的发展。你能保证哪个币只涨不跌？ 交易所应该尽量给努力的项目机会。不是交易所上的每个项目你都要买哦。DYOR。 — CZ BNB (@cz_binance) January 28, 2026 He likened the crypto market to the early internet years, where exchanges ought to provide credible teams with an opportunity and investment decisions be left to users. He stressed that the presence of a token on the list does not imply that anybody has to purchase it and repeated the necessity of personal research. The controversy surrounding holding strategies has been conducted within industry tension on the wider plane. Other traders stated that long-term holding, especially of large-cap assets like Bitcoin and Ether, has traditionally performed better than frequent trading among disciplined investors. Others argue that long-term drawdowns, particularly in altcoins, have put many portfolios underwater, and as such, generalized advice can no longer be easily implemented. Binance Under the Spotlight as Industry Reflects on October 10/10 Crash Binance was closely linked to the October 10–11, 2025 crypto market crash after technical failures during extreme volatility prevented users from managing orders, worsening mass liquidations. Over 1.66 million crypto traders were liquidated as the market experienced a sharp downturn, wiping out $19.33 billion in positions. #Trump #Bitcoin https://t.co/7PNRagvFrx — Cryptonews.com (@cryptonews) October 11, 2025 System overloads, pricing display errors, asset depegging, and failed risk controls contributed to $283 million in losses. Binance acknowledged the issues, compensated affected users , fixed pricing bugs, strengthened infrastructure, and updated risk parameters to prevent a repeat. @Binance will compensate verified user losses caused by technical failures during the $19B market liquidation event. #Binance #Crypto https://t.co/DuhHhPwRzm — Cryptonews.com (@cryptonews) October 12, 2025 Institutional voices have also entered the conversation, with market observers noting that forced deleveraging following October’s crash appears largely complete, shifting attention toward longer-term positioning rather than short-term volatility. At the same time, criticism of Binance has expanded beyond trading philosophy into governance and market structure. Industry executives, including Star Xu, the CEO of OKX, have publicly warned that short-term incentives and aggressive token promotion can undermine trust and slow broader adoption. People have underestimated the impact of 10/10. The incident caused real and lasting damage to the industry. An industry-leading company should focus on strengthening core infrastructure, building trust with global users and regulators, and protecting the long-term interests of… https://t.co/DIU57u8utU — Star (@star_okx) January 28, 2026 Supporters of Binance, however, argue that much of the backlash reflects broader frustration with the market cycle rather than evidence of coordinated wrongdoing. The post Binance Founder CZ Fires Back at FUD Over ‘Buy and Hold’ Tweet — Here’s What He Really Meant appeared first on Cryptonews .

28 Jan 2026, 15:10

KuCoin partners with Tour de France Champion Tadej Pogačar in trust-led crypto collaboration

KuCoin announced a partnership with Tadej Pogačar, the four-time Tour de France champion, and it doesn’t seem to be a typical athlete sponsorship deal. The crypto exchange, which has 40 million users globally, is positioning this collaboration around a core idea: “Trust First. Trade Next.” The announcement came in Vienna on January 28, timed with KuCoin EU’s official launch under Europe’s strict new crypto regulations. This signals the exchange is serious about becoming a mainstream financial player, not a speculative trading platform. Why this partnership breaks the sponsorship mold Here’s what makes this different from the usual celebrity endorsement. KuCoin and Pogačar aren’t just slapping a logo on each other. The partnership is built on the idea that both operate in environments where you can’t fake reliability. In cycling, you either perform on race day or you don’t. In crypto, you either have solid security and compliance or you lose user funds. KuCoin has spent eight years building its security infrastructure, they have got SOC 2 Type II and ISO 27001 certifications, which are the kind of technical credentials that institutional investors actually care about. They also got MiCAR approval in Austria, meaning they passed Europe’s toughest regulatory test. Pogačar, meanwhile, has won at the sport’s highest level repeatedly through sheer preparation and discipline. The alignment is real as both have built credibility the hard way. The European timing game Vienna wasn’t chosen randomly. KuCoin EU officially went live on January 28, and that’s a bigger deal than it sounds. MiCAR, Europe’s Markets in Crypto-Assets Regulation, is the gold standard for crypto regulation globally. Getting approved matters because it tells European users and institutions that KuCoin operates under real oversight, not in some regulatory gray zone. Pogačar’s involvement amplifies this message as the popular athlete is widely recognized across Europe. “At the highest level of cycling, trust is built through preparation, consistency, and a relentless focus on safety,” said Tadej Pogačar. You earn it over time, through experience and responsible decision-making under pressure. That mindset strongly resonates with how KuCoin approaches trust and security. Product integration without overreach The partnership will eventually include actual products, including something called KuCard, though specifics are still under wraps. But it is to be noted that KuCoin isn’t rushing to launch branded trading apps or Pogačar-themed promotions. They are being deliberate. Every product rollout will come “in a measured and responsible manner,” aligned with local regulations. “This partnership is built on a shared belief that trust is earned through professionalism, discipline, and reliable operations,” KuCoin CEO BC Wong said. Tadej represents excellence achieved through discipline and consistency at the very highest level. At KuCoin, we apply the same principles as we continue to strengthen security, compliance, and governance, helping bring crypto to a broader, more mainstream audience. That restraint tells you something. In crypto, hype moves markets fast. But KuCoin is choosing credibility over quick wins. They are betting that if they build trust methodically, through regulation, security, and partnerships that actually make sense, they will eventually reach mainstream audiences who currently avoid crypto entirely. This partnership is less about selling excitement and more about playing by the rules and protecting investors’ money. It reflects a shared belief that trust earned through professionalism, and discipline, represents a long-term value alignment rather than a one-off commercial endorsement. The post KuCoin partners with Tour de France Champion Tadej Pogačar in trust-led crypto collaboration appeared first on Invezz

28 Jan 2026, 15:04

Kalshi forecasts match Wall Street accuracy on interest rates and economic data

Kalshi, the prediction site known for turning headlines into tradable bets, is now being taken seriously by economists. A new study shows that Kalshi’s forecasts on Fed interest rates and economic numbers are just as accurate as the ones coming from Wall Street. The paper tracked data from 2022 through June 2024 and was written by three economists, one of them from the Federal Reserve. The research found that Kalshi’s traders matched professionals like the ones surveyed by the New York Fed. In one key case, Kalshi actually beat them. That was when the Fed made a surprise 0.5-point rate cut in September 2024. While Wall Street was caught off guard, Kalshi traders already had it priced in. Study shows Kalshi matched experts on rates and inflation This paper isn’t peer-reviewed yet, but it landed right before another Fed meeting. On that event, Kalshi and Polymarket both showed a 99% chance the Fed would hold steady. The fed funds futures market gave it a 97.2% chance. Every single one of the 92 economists tracked by Bloomberg also expected no change. The study also compared how well Kalshi did on inflation and unemployment numbers. The traders on the platform were just as close to the Bloomberg survey group. And on one key metric, headline Consumer Price Index (CPI), Kalshi beat the professionals in a way the authors said was statistically significant. Kalshi Markets of Interest. Source: Non-peer-reviewed study On Kalshi, users trade simple ‘yes’ or ‘no’ contracts that settle at $1. If a contract trades for 32 cents, that means the market is saying there’s a 32% chance of that thing happening. Many economic contracts are based on whether something like CPI will come in higher than a certain number. The study found that the most likely outcome on Kalshi, what’s called the modal forecast, was accurate by the night before most Fed decisions in that time period. Even when the Fed didn’t do what people expected, Kalshi’s prediction still held up. Kalshi gives constant updates economists can’t match Jared Katz, one of the authors and a Ph.D. student at Northwestern, said the reason Kalshi works well is that it gives more than just one number. “The real advantages are you’ve got a distribution instead of a point estimate, and you can look at how it responds very quickly after events,” he said. “It’s even better that the forecasts are pretty accurate.” Katz wrote the paper with Jonathan Wright from Johns Hopkins and Anthony Diercks from the Fed. Wright said these markets work because people are putting real money into their opinions. “The overarching theory is the wisdom of the crowds getting information from lots of people aggregating their beliefs,” he said. The idea isn’t new. Earlier studies showed that even small prediction markets can do better than experts. That’s part of what helped Kalshi beat regulators in 2024. They won the legal right to offer contracts in elections. Not long after, they added bets on sports and entertainment too. Kalshi still faces bias risks, but looks stronger in finance The study didn’t pretend Kalshi is perfect. Some researchers found that prediction markets tend to overpay for low-chance events. One wild example? At one point, traders gave a 4% chance that Jesus would return to earth that year. But a different review done by a Coinbase engineer looked at Kalshi trades and saw that the long-shot bias was weaker in the platform’s finance-related contracts. It was mostly the sports and entertainment side that showed those flaws. Still, for Wright and the others, prediction markets like Kalshi are tools they wish they had a long time ago. “I and others are super fascinated by this because we’ve always wanted to get markets for the things that economists care about, and those don’t really exist,” Wright said. By now, Kalshi has shown it can compete. It has matched economists, outperformed them on CPI, and picked up surprise Fed cuts. It gives live updates, shows all possible outcomes, and lets anyone trade on real-world data. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .