hodler

1 Jun 2026, 16:17

Researcher Cracks 9-Year-Old Bug, Frees $2M in Ethereum Locked Since 2016 ICO

A security researcher known as 0xflorent recovered roughly 1,003.62 ETH, worth approximately $2 million, that had been trapped inside a failed 2016 Ethereum ICO smart contract for nearly nine years. A 2016 ICO That Never Paid Back The funds originated from Hongcoin, also referred to as “The HONG,” a 2016 Ethereum-based project pitched as a

1 Jun 2026, 15:32

Whitehat Helps Recover $2M in ETH Stuck Since 2016 ICO

A whitehat developer helped return funds from HongCoin's failed 2016 token sale after a bug left investor refunds frozen for nine years.

1 Jun 2026, 14:50

Celo Names Former Mento Labs CEO Markus Franke as Global Head of Stablecoins

BitcoinWorld Celo Names Former Mento Labs CEO Markus Franke as Global Head of Stablecoins Celo, the Ethereum Layer 2 network focused on mobile DeFi, has appointed Dr. Markus Franke as its Global Head of Stablecoins, according to an announcement published on the project’s official Medium page. Franke will oversee the expansion of Celo’s on-chain economy, including partnerships, new stablecoin issuance, and institutional adoption strategies. From cLabs to Mento Labs: A Decade of Stablecoin Expertise Franke brings deep roots in the Celo ecosystem. He previously served as a senior economist at cLabs, the early development team behind Celo, and was instrumental in shaping the project’s initial vision before its mainnet launch. He later co-founded Mento Labs, a protocol focused on decentralized stablecoin issuance, and served as its CEO. Under his leadership, Mento Labs developed more than 10 local currency-based stablecoins, including BRLm, which is pegged to the Brazilian real. This appointment signals Celo’s intent to double down on stablecoins as a core growth driver. Stablecoins remain the most widely used on-chain financial product, with total market capitalization exceeding $200 billion across major blockchains. For Celo, which has positioned itself as a mobile-first platform for real-world payments, expanding stablecoin offerings is a strategic priority. Why This Matters for Celo and the Broader Market Celo originally launched as an independent Layer 1 blockchain before transitioning to an Ethereum Layer 2 in 2024. The migration aimed to leverage Ethereum’s security and liquidity while maintaining Celo’s focus on mobile accessibility and stablecoin-based payments. Franke’s appointment comes at a time when stablecoin competition is intensifying, with established players like USDC and USDT facing new challengers from decentralized protocols and regional stablecoins. Franke’s experience at Mento Labs, particularly with local currency-pegged stablecoins, positions Celo to target emerging markets where dollar-pegged stablecoins may face regulatory or usability challenges. Brazil, for example, has seen growing adoption of BRLm for remittances and local commerce, offering a template for similar expansions in other regions. Institutional Adoption and Regulatory Landscape Institutional interest in stablecoins is rising, driven by clearer regulatory frameworks in jurisdictions like the European Union’s MiCA and potential U.S. stablecoin legislation. Celo’s focus on compliant, transparent stablecoin issuance could attract partnerships with traditional financial institutions and fintech companies. Franke’s background in both economic theory and practical protocol development gives him a unique vantage point to navigate these opportunities. The appointment also reflects a broader trend of blockchain projects hiring experienced executives to lead product-specific initiatives, rather than relying solely on generalist leadership. As the crypto industry matures, specialized roles like Head of Stablecoins are becoming more common. Conclusion Dr. Markus Franke’s return to Celo in a dedicated stablecoin leadership role underscores the network’s commitment to becoming a hub for decentralized, accessible, and locally relevant stablecoins. With his track record at Mento Labs and deep understanding of Celo’s architecture, Franke is well-positioned to drive the next phase of the platform’s growth. For users and investors, this signals a focused strategy that could strengthen Celo’s position in the competitive stablecoin market. FAQs Q1: What is Celo? Celo is a mobile-first blockchain platform that focuses on making decentralized financial tools accessible via smartphones. It originally launched as a Layer 1 blockchain and later transitioned to an Ethereum Layer 2 network in 2024. Q2: What does the Global Head of Stablecoins role involve? The role involves overseeing the development and issuance of stablecoins on Celo, forming partnerships with issuers and institutions, and driving adoption strategies for both retail and institutional users. Q3: What is Mento Labs? Mento Labs is a protocol for issuing decentralized stablecoins, initially spun out from the Celo ecosystem. It has launched multiple local currency-pegged stablecoins, such as BRLm (Brazilian real) and others, targeting emerging markets. This post Celo Names Former Mento Labs CEO Markus Franke as Global Head of Stablecoins first appeared on BitcoinWorld .

1 Jun 2026, 08:47

2 million dollars in ETH unlocked from 2016 HongCoin ICO

🚨 Nearly $2 million in ETH was finally released after being frozen for 9 years in the HongCoin ICO smart contract. White-hat hacker 0xflorent found a vulnerability and helped former investors regain control of $ETH locked since 2016. 📌 Security lapses in smart contracts mean old ICO funds can still be at risk. Continue Reading: 2 million dollars in ETH unlocked from 2016 HongCoin ICO The post 2 million dollars in ETH unlocked from 2016 HongCoin ICO appeared first on COINTURK NEWS .

1 Jun 2026, 06:52

Whitehat developer unlocks $2 million stuck in a 2016 Ethereum ICO contract for nine years

0xflorent, a security researcher, found an integer-overflow flaw in the HongCoin token sale contract that lets the team unlock funds for 48 original investors. It is the second such recovery he has publicized in eight days.

31 May 2026, 09:50

Ripple set for mega 2026 fifth 1 billion XRP dump tomorrow

Ripple is set to unlock 1 billion XRP from escrow on June 1, 2026, marking the fifth scheduled token escrow release of the year. At XRP’s current price of around $1.35, the release carries a headline value of roughly $1.35 billion, making it one of the largest recurring token unlock events. Despite concerns over large XRP unlocks, Ripple typically re-locks 60% to 80% of released tokens, limiting net supply additions to roughly 200 million to 400 million XRP, worth about $272 million to $544 million at current prices. The released tokens are mainly used for operations, liquidity, partnerships, and ecosystem growth, while the escrow system helps manage supply dilution. The Ripple XRP escrow unlock is part of the company’s long-established monthly release mechanism that has been in place since December 2017. Impact on XRP price The system was designed to improve transparency around XRP supply and prevent unexpected large-scale token sales. Historically, monthly XRP escrow releases have had limited impact on the cryptocurrency’s price performance because the events are predictable and widely anticipated by market participants. Previous releases throughout 2026, including May’s 1 billion XRP unlock, generated little immediate market reaction. Analysts have generally found that broader crypto market sentiment, institutional adoption, regulatory developments, ETF -related activity, and overall digital asset trends have a greater influence on XRP price than scheduled escrow releases. While the June unlock could generate short-term volatility and renewed selling pressure from traders reacting to supply concerns, the expected re-locking of most tokens may help absorb any potential market impact. XRP price analysis By press time, XRP was trading at $1.34, down 0.3% over the past 24 hours and nearly 2% on the weekly timeframe. XRP seven-day price chart. Source: Finbold Traders are closely watching the $1.30 level as immediate support, followed by stronger support between $1.25 and $1.27. A break below these levels could pave the way for a move toward $1.20. On the upside, XRP faces near-term resistance between $1.35 and $1.40, while a decisive breakout above the $1.50–$1.55 range would be needed to confirm stronger bullish momentum toward $1.60–$1.70. For now, the $1.29–$1.35 range remains a key short-term battleground. The post Ripple set for mega 2026 fifth 1 billion XRP dump tomorrow appeared first on Finbold .