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2 Jun 2026, 12:20
Orbs Rolls Out V5 Mainnet Upgrade With Committee Synchronization Feature
BitcoinWorld Orbs Rolls Out V5 Mainnet Upgrade With Committee Synchronization Feature Layer-3 blockchain Orbs (ORBS) has officially announced the rollout of its V5 mainnet upgrade, a technical update aimed at streamlining the network’s core operations. The upgrade introduces a new mechanism called committee synchronization, designed to improve how the blockchain communicates with external EVM-compatible chains. What the V5 Upgrade Introduces The centerpiece of the V5 upgrade is committee synchronization, a system that propagates the official state of the Orbs committee to connected EVM chains. This is achieved through the collected signatures of network guardians, effectively creating a verifiable bridge between the Orbs layer-3 infrastructure and other blockchain ecosystems. The upgrade is focused on making existing processes more efficient rather than adding entirely new functionality. Security Considerations and Risk Profile Orbs has emphasized a unique security characteristic of its network: the chain itself does not hold any total value locked (TVL) or user funds. According to the team, this design choice significantly reduces the attack surface for potential hackers or exploit attempts. While no system is entirely immune to risk, the absence of on-chain funds means that common DeFi attack vectors—such as flash loan exploits or smart contract drainage—are not applicable to the Orbs base layer. Why This Matters for Users and Developers For developers building on Orbs, the V5 upgrade promises more reliable and efficient communication between the layer-3 network and EVM chains like Ethereum. The committee synchronization feature could reduce latency and improve the accuracy of cross-chain data verification. For ORBS token holders, the upgrade reinforces the network’s technical roadmap without introducing new economic or security risks tied to fund custody. Conclusion The Orbs V5 mainnet upgrade represents a measured, technical improvement to an existing layer-3 infrastructure. By focusing on operational efficiency and leveraging its fundless design for inherent security, Orbs continues to differentiate itself in the competitive blockchain middleware space. The upgrade is now live, and the network’s guardians are expected to begin utilizing the new synchronization mechanism immediately. FAQs Q1: What is committee synchronization in the Orbs V5 upgrade? Committee synchronization is a new mechanism that uses guardian signatures to propagate the official state of the Orbs committee to EVM chains, improving cross-chain communication and data verification. Q2: Is the Orbs network safe from hacks after this upgrade? Orbs notes that its chain does not hold any TVL or user funds, which inherently reduces the risk of exploits common in DeFi protocols. However, no blockchain is completely immune to all types of attacks. Q3: When was the Orbs V5 mainnet upgrade released? The upgrade was announced and rolled out in the current news cycle. Specific block heights or activation times were not detailed in the announcement. This post Orbs Rolls Out V5 Mainnet Upgrade With Committee Synchronization Feature first appeared on BitcoinWorld .
2 Jun 2026, 11:28
June starts rough for crypto security as Gnosis Pay and TesseraDAO report attacks
The cryptocurrency market has already suffered from two separate exploits affecting Gnosis Pay and TesseraDAO in the first days of June, leading to the loss of millions. The cryptocurrency industry has been plagued with a string of exploits that have renewed the debate about whether or not AI-powered tools are helping exploiters discover vulnerabilities faster. What happened to Gnosis Pay? Gnosis Pay, a platform offering a self-custody crypto card, was one of the targets of an exploit this week. The platform has a “delay module” feature designed to protect users, and under normal conditions, it imposes a three-minute wait on outgoing transactions to give users time to react. However, a bug allowed an attacker to bypass this protection. Gnosis Pay posted on X (formerly Twitter) at the beginning of June that it was investigating the vulnerability. The company’s co-founder, Martin Köppelmann, urged users to withdraw their funds immediately. “If you are a Gnosis Pay user – unfortunately I have to recommend: withdraw all funds (EURe and GNO),” he wrote. He also confirmed that Gnosis would cover all user losses. The team also requested bridge validators to pause activity in order to stop the cross-chain movement of potentially affected funds. As of now, Gnosis has not published a full post-mortem report detailing the total amount drained. Some users on social media compared this incident to an earlier exploit of a third-party Safe module, but no direct connection between the two events has been established. TesseraDAO loses $2.5 million in mint and dump attack Approximately 19 hours before it was made public, an attacker minted 99 million TSR tokens on BNB Chain and swapped them for roughly $2.5 million in USDT, causing the price of TSR to crash by 99%. After the swap, the exploiter moved the stolen funds across chains to Ethereum and began laundering the money. PeckShield reported that the exploiter had already sent 1,285.5 ETH through Tornado Cash, a mixing protocol used to hide transaction trails. TesseraDAO has not yet issued a public response to the exploit. The TesseraDAO exploit followed a pattern that has become common in 2026: mint, dump, bridge, launder. PeckShield separately reported that as of June 1, the crypto industry had suffered 14 major cross-chain and bridge-related exploits in 2026, with hackers extracting a cumulative $340.7 million from bridging protocols alone. Cross-chain infrastructure has been under siege in 2026. Source: PeckShield In April 2026, Cryptopolitan reported that $625 million was stolen across roughly 28 to 30 separate attacks. The Drift Protocol ($285 million) and KelpDAO ($293 million) hacks accounted for nearly all of that damage. In May, CertiK’s monthly report revealed 60 confirmed incidents, the highest monthly tally of 2026, resulting in approximately $68.3 million in gross losses. Code vulnerabilities drove 66% of those losses at $45.13 million, while bridge exploits pulled in the largest dollar figure by incident type at $28.62 million. $9.38 million of the stolen funds were recovered in May, representing a recovery rate of about 13.7%. Manuel Araoz, the founder of blockchain security firm OpenZeppelin, recently warned that he considers “all of DeFi unsafe,” arguing that coding agents are better at finding vulnerabilities than human defenders are at patching them. Slow Mist’s founder has also called on DeFi teams to deploy AI defensively and run attack simulations at least once per quarter. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .
2 Jun 2026, 10:56
ZachXBT challenges EdgeX explanation after EDGE token drops 70%, community pushes back
Blockchain investigator ZachXBT has called out EdgeX over its claim of external manipulation as the cause of its token, EDGE, losing around 70% of its value on June 1. ZachXBT is not alone in his criticism, as the project’s own community is also not buying EdgeX’s explanation. The saga joins a growing list of low-float token collapses that onchain sleuths had flagged in advance. The decentralized derivatives exchange posted two statements on X within hours of the crash. In its first statement , which was posted on June 1, EdgeX acknowledged “sudden and irregular price movement” and promised an investigation. The second , on June 2, ruled out any hack or exploit and attributed the sell-off to “deliberate” market-price manipulation by outside actors, according to the project’s official X account. What is ZachXBT demanding from EdgeX? ZachXBT posted a response to EdgeX’s explanation, stating, “We all know EdgeX supply was being controlled by a few insiders with a low float.” He added that if EdgeX really cares about transparency, they will name “the counterparties / MM agreements which lead to these events.” ZacbXBT’s skepticism carries weight. Cryptopolitan has previously reported on his investigations into RAVE, SIREN, and Memecore’s M token, all of which followed a similar pattern of a sharp rally on thin liquidity, concentrated insider holdings, and an eventual crash. How is the community receiving the news? EdgeX also attempted to clarify that a smart contract address flagged by users, 0x7f861a7db997b4f6e5ef9954a3b5d5b29c463cb2, was a legitimate deposit and withdrawal contract, not evidence of foul play. However, the ratio on the project’s posts shows that users are not exactly pleased with the turn of events. The initial June 1 announcement has received over 130 comments on X, many of whom do not believe the EdgeX team, with some accusing them of foul play. The project has not yet named the “external participants” it blames, disclosed trading data, or published the promised incident report. Price damage and liquidations EDGE fell from $1.14 to an all-time low of $0.366 as seen on CoinMarketCap during the June 1 session, a peak-to-trough decline of roughly 70% on Binance at some point. The token caused over $2.81 million in liquidations within a single hour, with long positions accounting for $1.96 million of that total and shorts making up roughly $849,000. As of June 2, EDGE was trading around $0.64 , a decline of over 45% in the past 24 hours with a market capitalization of over $226 million, according to CoinMarketCap. The token had hit an all-time high of $1.54 just 11 days earlier, on May 22. A pattern ZachXBT has seen before The EdgeX incident fits a template that ZachXBT and analytics firm BubbleMaps have documented across multiple tokens since early 2026. In the RAVE collapse in April , addresses linked to initial token distribution controlled around 95% of supply before the token crashed more than 95% from its peak. ZachXBT’s investigation connected RAVE to a playbook he said operated across RIVER, SIREN, MYX, SKYAI, and other tokens via centralized exchanges. In several of those cases, warnings arrived before the crash, not after. BubbleMaps flagged SIREN’s concentrated ownership weeks before its market cap dropped from $1.52 billion to $320 million. ZachXBT offered bounties for information on the RAVE manipulation before the token’s sharpest decline. Cryptopolitan reported on the RAVE and SIREN rallies near all-time highs, noting coordinated pump signals, and SIREN crashed barely an hour after publication. EdgeX has promised a comprehensive report once its investigation concludes. ZachXBT has made clear he expects that report to include names. If you're reading this, you’re already ahead. Stay there with our newsletter .
2 Jun 2026, 08:38
‘We Investigated Ourselves’: ZachXBT Slams EdgeX After Sudden Token Collapse
The EDGE token collapsed to an all-time low of around $0.40 on June 1, less than two weeks after it hit an all-time high of $1.54. The crash wiped off about 51% of the token’s value in a single day, triggering more than $6.2 million in liquidations across major exchanges and drawing immediate accusations of insider manipulation from on-chain researcher ZachXBT. edgeX Points the Finger Outward edgeX, the decentralized perpetual futures DEX that issues the EDGE token, posted on X several hours after the crash began, acknowledging what it called “a sudden and irregular price movement.” The team also said they were working to understand what happened. Two hours later, the project followed with a firmer statement, saying the following: “The edgeX protocol were not compromised in any way. This is not a hack, exploit, or security breach. What we have identified so far suggests deliberate attempts by certain external party to manipulate the market price of EDGE.” The company added that it was working with relevant exchanges and platforms to identify the cause and pursue accountability. It also promised to provide a more detailed update once the said investigations were over. However, their explanation was not well received everywhere, with ZachXBT, an on-chain investigator known for calling out bad actors in crypto, pushing back directly and stating that the EDGE supply appeared to be controlled by a small group with low circulating float. He also challenged the edgeX team to disclose the platform’s counterparties and market maker agreements if they really cared about transparency, mocking the project’s self-investigation with a pointed paraphrase: “We investigated ourselves and did not find ourselves guilty even though we control nearly the entire supply.” On the price side, the damage was significant, with CoinGecko data showing that EDGE dropped from about $1.26 to near $0.40, which was a new all-time low, before it stabilized around $0.62 at the time of writing. Additional data from CoinGlass showed the price fall caused liquidations of about $6.2 million in 24 hours, with long positions accounting for $4.84 million. That activity was mostly concentrated on Binance, Bybit, and OKX, which together handled the majority of the forced closures that affected at least 3,840 traders, with price volatility hitting 74.77% on the day. A Rough Season for Crypto Security There is a valid reason why many people, upon seeing EDGE’s behavior in the market, immediately thought its parent platform had been hacked and why edgeX came out to categorically deny that there had been such an incident. This year, the crypto space has been rattled by a string of exploits, including a recent attack on DxSale, where more than 1,400 liquidity pools tied to its old contracts on the BNB Chain were drained of about $7.3 million worth of tokens. A hacker also stole about $11 million from the Verus bridge, while TrustedVolumes, a liquidity provider, lost just under $6 million. The post ‘We Investigated Ourselves’: ZachXBT Slams EdgeX After Sudden Token Collapse appeared first on CryptoPotato .
2 Jun 2026, 07:00
Arthur Hayes Bets $100K On Hyperliquid, Says HYPE Will Beat Solana By Year‑End
As Hyperliquid (HYPE) reaches new all-time highs (ATHs), Arthur Hayes has bet six figures that the token will continue to rally and outperform Solana (SOL) in the coming months. Related Reading: Bitcoin Trend That Has Held For 15 Years Shows When To Expect The Bottom And When $400,000 Will Happen Arthur Hayes Doubles Down On Hyperliquid On Sunday, BitMEX co-founder Arthur Hayes reaffirmed his bullish outlook for Hyperliquid, affirming that the token will outperform the leading cryptocurrencies by market capitalization. In an X post, he asked long-time Solana believer and Chairman of Forward Industries, Kyle Samani, to do “a gentleman’s charitable bet” on which token would have the best performance by the end of the year. “I put $100k on the line to a charity of your choice that HYPE outperforms any other current top ten crypto in USD terms from now until year end. Who is your champion?” Hayes stated. Samani accepted the deal, choosing Solana as HYPE’s competitor. Notably, the Forward Industries chairman has been publicly critical of Hyperliquid, previously alleging that “Building trust is antithetical to the way Hyperliquid operates” and calling it “Binance 2.0” regarding its regulatory status in the US. Hayes’s bet follows his conviction on HYPE’s future price action. He recently affirmed that Hyperliquid “should at a minimum overtake SOL before this bull run is over,” citing the performance of most top cryptocurrencies on short and mid-term timeframes. Earlier this year, he also asserted that the cryptocurrency could surge to $150 by August 2026, roughly 5x higher than its then-$30 price, even if the broader crypto market continues to perform weakly. Since then, the token has already surged nearly 2.4x, flipping Dogecoin (DOGE) to enter the top 10 cryptos by market capitalization, and continuing to reach new all-time highs over the past few weeks. HYPE To Rally To $163? Over the weekend, Hyperliquid broke past the $65 resistance and began a multi-day price discovery streak that has been developing since Friday. After breaking the $70 on Sunday, the cryptocurrency jumped nearly 6% to reach its latest all-time high of $74.18 on Monday morning. Amid this performance, market observer Ali Martinez retracted his previous warning about a potential top, noting that “HYPE continues to make new record highs, pushing deeper into price discovery.” Last week, the analyst shared the “unpopular opinion” that Hyperliquid had reached its market top after reaching its recent highs and printing sell signals on the TD Sequential daily and three-day charts. As reported by NewsBTC, Martinez had highlighted that HYPE was “approaching a critical resistance area while multiple indicators are flashing warning signs,” following its massive performance. He pointed out that the token was seeing a similar setup to the last two times TD Sequential sell signals appeared on HYPE’s chart, while the RSI and Chande Momentum Oscillator were also at overheated levels, which led to significant corrections. Related Reading: XRP Ledger Targets Flash Loan Attacks With New DeFi Security Proposal Based on that, he stated that Hyperliquid could still push toward $59 or slightly above $60 before momentum faded, warning that a rejection from that area could increase the chances of a retrace toward the $40 support. Now, the analyst noted that these sell signals have been invalidated, and shared potential price discovery rally targets of $97 and even $163, as momentum continues. As of this writing, HYPE trades at $71.8, a 16.8% increase in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
2 Jun 2026, 01:00
Crypto Hackers Stole $68 Million In May — But The Attacks Getting No Headlines Are Far More Terrifying
Blockchain security firm CertiK recorded $68.3 million in total crypto losses across May 2026 — making it the third month of the year to fall below the $100 million threshold — but the headline number obscures a darker and more personal dimension to the sector’s security crisis, as physical attacks on crypto holders simultaneously reached a pace that no firewall can stop. In a post on X, CertiK noted that May’s losses represented a dramatic contraction from April’s $650 million — a month dominated by two catastrophic North Korea-linked exploits. The $68.3 million figure includes approximately $2.6 million lost to phishing attacks, while roughly $9.4 million was recovered or returned to affected treasuries, per CertiK’s data. The month’s largest single exploit was the $11.5 million Verus-Ethereum Bridge attack on May 18, followed by $10.1 million stolen from THORChain through a vault mechanism exploit. Cross-chain bridges accounted for nearly 42% of total May losses — approximately $28.6 million — while code vulnerabilities drove roughly $45 million, or about 66% of the total, per CertiK. The On-Chain Losses Are Only Part Of The Picture The more unsettling dimension of May’s security environment sits entirely off-chain. A report published May 21 by Insurance Journal, written by Suvashree Ghosh and Isabelle Lee and drawing directly on CertiK data, documents a year of kidnappings, assaults, and armed home invasions targeting cryptocurrency holders that has fundamentally reshaped how the industry approaches personal security. Physical attacks on cryptocurrency holders rose 75% in 2025, reaching 72 confirmed incidents and $41 million in known losses, according to CertiK data cited in the Insurance Journal report. The firm’s separate Skynet intelligence report recorded 34 verified physical attacks — known in security circles as “wrench attacks,” where victims are coerced into surrendering private keys or wallet access through force or intimidation — within just the first four months of 2026 alone, with estimated losses already surpassing $100 million globally, per MEXC’s reporting of the CertiK findings. Jameson Lopp, co-founder of Bitcoin custody firm Casa, maintains a public database of such incidents that has tracked a roughly threefold increase in known wrench attacks between 2023 and 2025, per the Insurance Journal report. The figure is widely considered understated — kidnappings and ransom demands are frequently resolved privately and never publicly disclosed. The Threat Environment Is Evolving The industry’s defensive response reflects the scale of the shift. According to Insurance Journal’s reporting, the Bitcoin 2026 conference in Las Vegas saw the highest-profile speakers move through the venue with personal bodyguards. A standing-room-only workshop taught attendees how to protect their holdings during a home invasion. At Paris Blockchain Week, guests were escorted by police motorcade to a VIP dinner and organizers doubled security around the two-day event. CertiK senior blockchain investigator Natalie Newson warned that AI is accelerating the threat environment — not only through AI-assisted social engineering campaigns already documented in April’s North Korea-linked attacks, but through the broader weaponization of generative tools against crypto developers and infrastructure providers. Her immediate guidance to users: verify every URL and smart contract before interacting, and move idle assets entirely off exchanges into cold storage. Year-to-date through May, the nascent sector has recorded $1.1 billion in total losses across 185 tracked incidents, with North Korea-linked actors responsible for approximately $620.9 million — or 55% of all stolen value despite carrying out only 12% of incidents, per CertiK’s mid-month Skynet report. The on-chain losses are significant. The physical ones are harder to quantify and harder still to defend against — and the gap between the two threat vectors is narrowing faster than most of the industry has acknowledged. Cover image from Grok, BTCUSD chart from Tradingview
