Latest Crypto News & Market Updates

Term Finance kills Meta Vaults after governance process clears path for $8.5 million drain

On-chain fixed-rate lending protocol Term Finance said it permanently shut down its Meta Vaults after a governance exploit, ending new deposits while leaving withdrawals open.　　Related Asset Ethereum #2 ETH · $2,497.37 24-hour change: up 1.69% 24H Up 1.69% 7D Up 31.46% 30D Up 32.66%　　Term Labs said it also revoked the vaults DAO governance roles.　　Blockchain security firm PeckShield separately estimated that the attacker removed about 2,843 ETH worth $6.87 million and 1.68 million USDC, which was swapped for roughly 1.68 million DAI.　　Term has not confirmed the roughly $8.5 million total or published its own vault-by-vault accounting.　　Related Company Peckshield Blockchain security company　　How the exploit moved through governance　　Terms governance documentation describes an opt-out system. Vault liquidity-provider token holders can veto queued parameter changes during a seven-day delay, and the change can become executable without a veto.　　Related Asset USDC USDC · Stablecoin　　Timeline showing how the Term Meta Vault drain unfolded, from governance changes to WETH and USDC transfers and the vaults shutdown.　　A DeFiPrime reconstruction of the on-chain activity said an ETH Meta Vault proposal remained open for six days without a veto. Its first actions on execution set the delay cooldown to zero, removing the second waiting period before the transaction routed 2,841.7435 WETH

3 days agoIndustry

Bitcoin Rally Takes Strategy From $9.5B Underwater to $4.7B Paper Profit in 7 Days

Strategys average Bitcoin purchase price remains above $75,000, keeping the position sensitive to further price moves.　　Michael Saylors Strategy swung an unrealized loss of more than $9.5 billion to a paper profit above $4.7 billion in just seven days.　　The reversal follows Bitcoin‘s climb from the low $60,000s to above $80,000 over the same week, turning the largest corporate BTC holder’s balance sheet from red to green.　　The Numbers Behind the Swing　　Strategys own dashboard puts its holdings at 840,477 BTC, bought at an average price of $75,385, a position that was down more than $9.5 billion a week earlier and is now up more than $4.7 billion.　　The firm has kept building its cash position and has not bought or sold any Bitcoin over the stretch. However, it did sell 18.26 million shares of MSTR for $2.01 billion, with $1.59 billion moved into a second reserve, USD Cash, that Strategy says can be used for future Bitcoin purchases. Its regular USD reserve also grew to $5.1 billion.　　It also repurchased $136 million of its STRC preferred shares, whose price keeps climbing toward its $100 par value ($97.21 at last check), with its last Bitcoin move being a sale on August 10, when it shed 1,690

3 days agoIndustry

BitMart Shutdown Sparks Withdrawal Concerns: $3.7 Million in User Assets Reportedly Affected — WikiBit Launches CEX Risk Exposure & Complaint Channel

After BitMart announced its orderly shutdown on July 26, an increasing number of users have reported issues in recent days, including withdrawal difficulties, delayed withdrawals, abnormal account balances, and unresponsive customer support.　　On July 30, affected BitMart users with significant asset exposure established a joint communication group and completed an initial registration process. According to the preliminary records, 27 users reported being unable to withdraw their funds normally, with total affected assets reaching approximately 3,704,214 USDT.　　The largest reported individual asset amount reached 700,000 USDT, while several other users reported account balances ranging from 100,000 USDT to 600,000 USDT.　　Screenshots from the original accounts of just seven users showed a combined balance of 1,692,203.67 USDT.　　Screenshot of BitMart Users Unable to Withdraw Funds (Source: @MINGLIbtc)　　Centralized exchanges (CEXs) play a critical role in custodying user assets, facilitating trades, and providing withdrawal services. However, over the past few years, the crypto industry has witnessed multiple exchange risk events. From the collapse of major exchanges to withdrawal difficulties faced by smaller platforms, ordinary users are often the ones who suffer the greatest impact in the end.　　When such incidents continue to occur, how can users better protect their asset rights and interests？BitMart Shutdown: $3.7 Million in User Assets

3 days agoDeep Dive

Gemini enables XRP transfers via XRPL in Singapore

Gemini enabled XRP deposits and withdrawals through the XRP Ledger for customers in Singapore on Aug. 25, expanding its local support beyond buying, selling and storing the token.　　SummaryGemini users in Singapore can now deposit and withdraw XRP through the XRP Ledger network.The rollout adds blockchain transfers beyond trading and custody access already offered to Singapore customers.Gemini holds in-principle regulatory approval for a Major Payment Institution license application in Singapore.XRP joined Geminis derivatives cross-collateral pool alongside Bitcoin, Ether, Tether and Gemini Dollar during July.Gemini previously enabled RLUSD deposits and withdrawals over XRPL, expanding its Ripple-related product support further.　　Gemini co-founder and CEO Tyler Winklevoss announced the rollout in an X post. Eligible users can now transfer XRP between Gemini accounts and external XRPL addresses instead of relying only on transactions within the exchange.　　Big news for the Ripple Army in Asia. @Gemini users in Singapore ???????? can now deposit and withdraw XRP over the XRPL network.　　— Tyler Winklevoss (@tyler) August 24, 2026　　You might also like:　　Gemini Titan to power crypto prediction markets for Apex brokerages　　Gemini adds native XRP transfers in Singapore　　The new functionality allows users to deposit XRP from self-custody wallets or other supported platforms. They can also withdraw tokens from Gemini directly to

3 days agoIndustry

India to launch first tokenized corporate bonds using digital rupee

India has set plans to launch its first tokenized corporate bonds next month through an REC issue of less than 5 billion rupees ($57 million), with the digital rupee set to settle transactions on blockchain-based infrastructure.　　Reuters reported on Aug. 25, citing three people with direct knowledge of the matter, that state-owned power financier REC will issue the bonds as part of a pilot being developed with the Reserve Bank of India and the Securities and Exchange Board of India.　　The planned issuance will test whether distributed ledger technology can shorten the process of issuing, recording and settling corporate debt. Ownership and transaction records will be maintained digitally, allowing settlement to take place almost immediately once the required assets move between participants.　　One person familiar with the plans told Reuters that the offering is expected to be unveiled during an annual financial technology event in Mumbai next month. Access will initially be restricted to a limited group of investors while regulators test the system.　　“The offering would be made available to only a select group of investors at the pilot stage,” the person said.　　Reuters could not determine which investors will participate. The RBI, SEBI and REC did not respond to requests for comment.　　Tokenized corporate

3 days agoIndustry

U.S. expands Iran crypto sanctions over $100M oil payments

The U.S. Treasury expanded sanctions to Iran‘s digital asset sector on Aug. 24, giving the Office of Foreign Assets Control broader authority to target foreign companies and individuals supporting the country’s cryptocurrency industry.　　The measure accompanied sanctions against nearly 60 entities, individuals and vessels across Iran-linked nuclear, missile, cyber and oil networks. Treasury also accused UAE-based broker Ivan Obukhov of processing more than $100 million in cryptocurrency for oil sales linked to Irans Islamic Revolutionary Guard Corps-Quds Force.　　Iran crypto sector becomes a sanctions target　　The new OFAC determination places digital assets among five additional sectors covered under Executive Order 13902. The others are technology, gold, aviation and shipping.　　OFAC can now sanction any person determined to operate in Iran‘s digital asset sector or provide services supporting it, regardless of where that person is located. The determination took effect on Aug. 24, according to OFAC’s official notice.　　Treasury described cryptocurrency as an increasingly common tool for moving money outside conventional banking channels.　　“The Iranian regime increasingly turns to cryptocurrency as a tool of choice for sanctions evasion,” Treasury alleged.　　The determination does not automatically sanction every crypto company serving Iranian users. OFAC must identify and designate particular parties before blocking measures apply. However, participation in the sector

3 days agoIndustry

Block Bits Capital founder convicted in nearly $1M crypto fraud

A federal jury has convicted Block Bits Capital co-founder Japheth Dillman of wire fraud and conspiracy after prosecutors said more than 20 investors lost nearly $1 million in a fraudulent cryptocurrency trading fund.　　The U.S. Department of Justice said on Aug. 24 that the 48-year-old San Francisco resident was found guilty following a 10-day trial before U.S. District Judge Richard Seeborg in the Northern District of California. Dillman remains free on bond and is scheduled to be sentenced on Dec. 8.　　Court evidence showed that Dillman helped raise money for Block Bits Capital between June 2017 and August 2018 by giving investors false information about the funds trading technology and performance. Prosecutors said Dillman and a co-conspirator promoted an automated cryptocurrency trading program called the “Autotrader” as a completed and functioning product.　　The software was supposed to generate returns by automatically trading digital assets, but Dillman knew the algorithm did not work as represented, according to evidence presented at trial. Investor money therefore could not be deployed through the automated strategy investors had been told the fund would use.　　Block Bits Capital investors were sold a non-working trading tool　　While raising capital, Dillman and his associates presented Block Bits Capital as a fund capable of

3 days agoIndustry

WikiBit Exchange Exit Risk Ranking #7: UPbit — Kimchi Premium Is Gone, Trading Volume Has Collapsed, Regulators Are Watching Closely. Has UPbit’s Golden Era Come to an End?

Introduction: The “Kingpin” of South Koreas Crypto Market　　In previous episodes, we investigated:HashKey — the “compliance top student”;HTX — the “sanctions disaster zone”;UZX — the “DAO penny stock”;Phemex — the “Wall Street elite team”;Tapbit — the “MSB license sticker king”.　　Todays subject is a true heavyweight player:　　UPbit.　　Among global crypto exchanges, UPbit is a unique existence.　　It is not a global nomadic giant like Binance, nor is it a U.S.-listed company built around regulatory compliance like Coinbase.　　UPbit is more like a regional crypto kingdom in South Korea.　　Inside South Korea, it dominates the market with more than 70% market share, becoming the “crypto bank” and “faith platform” for Korean retail investors.　　But on the global stage, UPbits influence is far smaller than its actual trading volume would suggest.　　From 2025 to 2026, UPbit experienced what can only be described as a roller-coaster year:In February 2025, South Koreas Financial Intelligence Unit (FIU) imposed a three-month business suspension on UPbit;In May 2025, its CEO, who had led the company for eight years, suddenly resigned;In the same month, South Korean internet giant Naver announced a $10.3 billion stock-swap acquisition of UPbits parent company, Dunamu;In April 2026, a court overturned FIUs suspension order;In 2026, Navers acquisition deal was delayed twice and

3 days agoDeep Dive

BNB Chain activates Pasteur hard fork on mainnet

BNB Chain activated the Pasteur hard fork on BNB Smart Chain mainnet at 02:30 UTC on Aug. 25, introducing three changes focused on bridge security, validator authorization and block capacity.　　The network confirmed that Pasteur was live following its scheduled activation. BSC continued producing blocks at its existing 450-millisecond interval, with no major disruption publicly reported immediately after the upgrade.　　Pasteur combines BEP-682, BEP-695 and BEP-675 under the broader BEP-673 upgrade plan. The changes had operated on BSCs Chapel testnet since July 21 before reaching mainnet.　　BNB Chain Pasteur strengthens bridge verification　　BEP-682 changes how BSC verifies light blocks submitted through cross-chain infrastructure. Before Pasteur, the verification process did not explicitly reject duplicate entries in a submitted validator list.　　Pasteur hardfork is now live on BSC Mainnet.　　The upgrade strengthens bridge, staking and governance security, while giving blocks more room to carry transactions at the same 450ms block time.　　Read the full upgrades ????https://t.co/41QWQh1GGL pic.twitter.com/mTTnRb9PNk　　— BNB Chain (@BNBCHAIN) August 25, 2026　　A crafted request could therefore include the same validator more than once. Counting those entries separately risked making a bridge approval appear to have support from more independent validators than it actually did.　　Pasteur rejects repeated validator entries before calculating whether the required voting threshold has been reached.

3 days agoIndustry

Ledger patched an Ethereum app bug that could show one transaction and sign another

Ledger users should update the Ethereum app to version 1.22.2 after official code changes showed that a malicious dApp or other connected host could start a second signing command while a transaction was still under review.　　Related Asset Ethereum #2 ETH · $2,497.37 24-hour change: up 1.69% 24H Up 1.69% 7D Up 31.46% 30D Up 32.66%　　In the path described by security company TestMachine, pressing approve could return a signature for substituted data instead of the transaction shown on the device.　　TestMachine said on Aug. 22 that the attack required a dApp with WebHID access. The group said a second command could replace the transaction held in memory without opening a new review, leaving the original details on screen while the device signed the replacement.　　Related Company Ledger Crypto hardware wallets　　It said the behavior was validated on Ledger Flex.　　Ledgers code history shows one official fix commit saying new signing commands could tear down an active review before returning an error. Another added state checks because approval callbacks previously signed without confirming that the app remained in the expected signing state.　　Version 1.22.2 closes that documented path by refusing a new signing session during an active review and rejecting an approval callback when the state no

3 days agoIndustry

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