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8 May 2026, 11:40

IMF raises alert as advanced AI tools threaten global financial stability

The International Monetary Fund (IMF) has issued a warning regarding the danger being posed by the sophisticated nature of AI. In the IMF’s 7 May 2026 blog, newer AI models offer a pathway to bypass any financial guardrails put in place. To them, this would be disastrous to financial markets. The IMF has made clear that although the technology provides defense mechanisms to counter such attacks, its offensive capabilities outweigh its defensive strengths. The IMF highlights escalating AI cyber threats to financial stability This warning comes against the backdrop of growing dependence on technology such as shared infrastructure, including software and networks, that power payments and information transfer across the globe. In its report, the IMF warned that these risks cannot be viewed in isolation but are systemic and can spread from finance into other industries, such as energy and telecom. An important example cited is Claude Mythos Preview by Anthropic, a powerful AI model introduced in a carefully monitored environment. IMF further explained that Mythos can detect and use weaknesses in all major operating systems and web browsers, regardless of whether its operators possess any specific expertise. Such technology is a prelude to a future in which “zero-day” exploits—which have been difficult to create and exploit in the past—are common. The blog also mentioned OpenAI’s unique GPT-5.5 cyber model. Potential for systemic contagion and global market disruptions As the IMF states, the interconnection of global finance creates an exponential multiplier effect for global financial threats. As per the IMF, “Cyber risks are increasingly about correlated failures that could threaten financial intermediation, payments, and confidence at the systemic level.” This is because a few key platforms are used in cloud computing, software development, and machine learning. The report argues that AI can create further concentration and failure through a vulnerability affecting many institutions. Developing nations are vulnerable to cyberattacks due to limited resources and inadequate cyber protection measures. Though the IMF did not provide specific loss figures in its latest update, it cited earlier studies that highlighted the possibility of such events escalating into solvency issues and broader impacts. Urgent calls for global cooperation on AI financial risks As a countermeasure, the IMF is now promoting a “resilience-first policy framework” that views cybersecurity as an integral component of financial stability. “Defenses will always be penetrated at some point, and therefore resilience is important too, especially to prevent the spread of damage and ensure recovery,” the blog explained. IMF Managing Director Kristalina Georgieva reinforced the message last month, stating in an interview: “We are very keen to see more attention to the guardrails that are necessary to protect financial stability in a world of AI.” White House scrambles all-of-government response to advanced AI risks The Trump Administration is making efforts to ensure that American companies and government institutions are shielded from cybersecurity risks arising from new artificial intelligence programs, according to National Economic Council Director Kevin Hassett, in an interview with Fox Business on Wednesday, May 6, 2026. Hassett appeared on Maria Bartiromo’s Mornings with Maria and stated that the White House is working with private firms to conduct extensive testing of new AI models before deployment. These statements follow concerns about the capabilities of Mythos , a top-notch AI model developed by Anthropic. “But we have scrambled an all-of-government effort and all the private sector to coordinate and to make sure that before this model is released out into the wild, that it’s been tested left and right to make sure that it doesn’t cause any harm to the American businesses or the American government,” Hassett stated. “We’re studying possibly an executive order to give a clear roadmap to everybody about how this is going to go and how future AIs that also potentially create vulnerabilities should go through a process so that, you know, they’re released in the wild after they’ve been proven safe, just like an FDA drug,” he explained. The smartest crypto minds already read our newsletter. Want in? Join them .

8 May 2026, 11:22

Mantle tokenholders approve 30K ETH Aave credit facility after rsETH exploit

The credit facility would help Aave address bad debt created after the April rsETH exploit strained its WETH market.

8 May 2026, 11:21

Arbitrum DAO Votes to Unlock $70 Million for Kelp DAO Exploit Relief

Arbitrum DAO voted to release the Kelp exploit funds, but a U.S. Court restraining notice has put the approved transfer in legal jeopardy.

8 May 2026, 10:35

Revolut App Displays Bitcoin Price at $0.02 in Brief Glitch

BitcoinWorld Revolut App Displays Bitcoin Price at $0.02 in Brief Glitch Users of the neobank Revolut, which offers cryptocurrency investment services, briefly saw the price of Bitcoin displayed at just $0.02 on the app earlier this week, according to a report by CoinDesk. Screenshots shared on social media showed the price dropping to two cents before quickly recovering to its normal level. It remains unclear whether any trades were executed at the erroneous price. No Market-Wide Crash During the same period, major cryptocurrency exchanges including Binance and Coinbase listed Bitcoin at approximately $79,000, according to data from CoinGecko and CoinMarketCap. This indicates the glitch was isolated to Revolut’s platform and not the result of a broader market sell-off. The discrepancy between the app’s display and actual market data suggests a technical error rather than a real price movement. Revolut’s Crypto Services Under Scrutiny Revolut, a London-based financial technology company, has expanded its crypto offerings significantly in recent years, allowing users to buy, sell, and hold digital assets alongside traditional currencies. The neobank has faced previous technical issues with its crypto services, including temporary outages during periods of high volatility. This latest glitch raises questions about the reliability of price data displayed on the platform. Implications for Users For Revolut’s crypto-trading customers, the incident underscores the importance of verifying prices across multiple sources before executing trades. While no trades at the glitched price have been confirmed, such errors could potentially lead to unintended transactions if automated trading features are enabled. Revolut has not yet issued an official statement addressing the glitch or outlining any remedial measures. Conclusion The brief display of Bitcoin at $0.02 on Revolut’s app appears to be a technical glitch rather than a market event. With no official explanation from Revolut yet, users are advised to cross-check prices on other platforms. The incident highlights the ongoing challenges fintech apps face in maintaining accurate real-time data for volatile assets like cryptocurrency. FAQs Q1: Did anyone buy Bitcoin at $0.02 on Revolut? It has not been confirmed whether any trades were executed at the glitched price. Revolut has not released transaction data related to the incident. Q2: Why did Bitcoin show $0.02 on Revolut? The exact cause is unknown, but it appears to be a technical glitch on Revolut’s platform, as other exchanges showed Bitcoin trading near $79,000 at the same time. Q3: Is my Revolut crypto account safe? There is no evidence of a security breach. The glitch seems limited to price display. Users should monitor their accounts and contact Revolut support if they notice any unauthorized transactions. This post Revolut App Displays Bitcoin Price at $0.02 in Brief Glitch first appeared on BitcoinWorld .

8 May 2026, 10:08

KelpDAO Hack Fallout Pushes Another DeFi Protocol Toward Chainlink CCIP Migration

Bitcoin-focused DeFi platform Solv Protocol announced that it is fully migrating to the Chainlink Cross-Chain Interoperability Protocol (CCIP) as part of its updated security strategy for cross-chain transactions. The move will cover more than $700 million in Bitcoin-related assets across SolvBTC and xSolvBTC. Solv Ends LayerZero Bridging Support As part of the transition, Solv said it will discontinue LayerZero bridging support for SolvBTC and xSolvBTC on Corn, Berachain, Rootstock, and TAC. The platform explained that it is reducing risk exposure on its existing bridging stack and standardizing its infrastructure on Chainlink CCIP. Solv described cross-chain bridges as one of the highest-risk areas in decentralized finance, while noting that vulnerabilities in bridge infrastructure can create significant systemic risks for the sector. The platform also confirmed carrying out a complete updated review of available cross-chain interoperability solutions before selecting Chainlink CCIP. Commenting on the development, Chainlink Labs’ Chief Business Officer, Johann Eid, said, “We are proud to work with the Solv team and support their migration to Chainlink CCIP as the standardized way that their wrapped Bitcoin assets are securely transferred cross-chain. Solv’s migration to CCIP reflects a broader shift across the DeFi industry of leading protocols adopting Chainlink to deliver the highest level of security required to bring the next billion users onchain.” LayerZero Breach Fallout Deepens Solv Protocol’s decision to migrate its cross-chain infrastructure to Chainlink comes weeks after the massive April 18 exploit involving LayerZero-powered KelpDAO, which resulted in losses of roughly $292 million. The attacker, reportedly linked to North Korea’s Lazarus Group, allegedly exploited weaknesses tied to LayerZero’s infrastructure, according to KelpDAO’s public statements. The DeFi protocol pushed back against claims from LayerZero Labs that the breach stemmed from a configuration issue unique to KelpDAO. Instead, Kelp argued that the setup followed LayerZero’s official documentation and reflected a standard deployment model used by many applications across the ecosystem. Kelp further claimed that LayerZero’s DVN signed forged transactions worth more than $100 million before the protocol paused its contracts and stopped additional losses. LayerZero later acknowledged in its postmortem that attackers gained access to RPC endpoints connected to its DVN and compromised multiple nodes during what it described as an RPC spoofing attack. Following the exploit, KelpDAO announced plans to move away from LayerZero’s OFT standard and transition rsETH to Chainlink’s CCIP framework. The post KelpDAO Hack Fallout Pushes Another DeFi Protocol Toward Chainlink CCIP Migration appeared first on CryptoPotato .

8 May 2026, 09:42

Arbitrum greenlights $71 million ETH release after hack

🚨 Arbitrum approves $71 million in ETH to be released after the hack. More than 90% of voters support returning the funds to affected users in $ETH. 🧑‍⚖️ Critical data: The release still faces a major legal hurdle in a Manhattan court. Continue Reading: Arbitrum greenlights $71 million ETH release after hack The post Arbitrum greenlights $71 million ETH release after hack appeared first on COINTURK NEWS .