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THORChain’s RUNE Token Plunges Double Digits After $10M Exploit, Trading Halt

In briefTHORChain suspended all trading after security researchers flagged a suspected multi-chain exploit allegedly affecting Bitcoin, Ethereum, BNB Smart Chain, and Base networks.Blockchain researcher ZachXBT and security firm PeckShield identified two suspected theft addresses linked to alleged losses exceeding $10 million.The protocol halted operations while investigating the potential security breach.　　THORChain halted trading operations Friday morning after blockchain security researchers identified a suspected exploit allegedly affecting more than $10 million across multiple blockchain networks.　　Blockchain researcher ZachXBT and security firm PeckShield traced the suspected breach to two main addresses—one on Bitcoin and another on EVM-compatible chains including Ethereum, BNB Smart Chain, and Base. The researchers‘ analysis prompted THORChain’s immediate defensive response.　　The protocol‘s team has not yet released technical details about the nature of the alleged vulnerability or confirmed the researchers’ loss estimates. THORChains native token RUNE is down 10% on the day to trade at $0.5229, per CoinGecko data.　　The suspected exploit occurred during a period of elevated activity on THORChain. The protocol processed $394 million in daily volume when hackers allegedly used it to move stolen funds from the KelpDAO breach between and networks.　　The protocol suspended its ThorFi lending operations in January 2025 amid insolvency allegations, implementing a 90-day restructuring to address

05-15

Altcoins Gain Massive Momentum as XDC Network and Flare Prices Surge Amid Rising Bullish Sentiment

Tech　　Altcoins Gain Massive Momentum as XDC Network and Flare Prices Surge Amid Rising Bullish Sentiment　　The post Altcoins Gain Massive Momentum as XDC Network and Flare Prices Surge Amid Rising Bullish Sentiment appeared first on Coinpedia Fintech News　　The altcoin market continues to display growing strength as several mid-cap tokens attract fresh bullish momentum despite ongoing volatility across the broader crypto space. Among the strongest performers, XDC Network (XDC) and Flare (FLR) have witnessed notable price surges over the past 24 hours, supported by rising trading activity and improving market sentiment. The sharp recovery in these tokens suggests that traders are gradually shifting focus toward utility-driven altcoins as Bitcoin stabilizes near higher levels.　　With both XDC and FLR prices breaking above crucial resistance zones, market participants are now closely watching whether the latest rally can extend further in the coming sessions.　　XDC Network Price Breaks Out of Bearish Structure　　XDC Network price witnessed a strong bullish breakout after remaining under sustained bearish pressure for several months. The token surged more than 8% and climbed above the $0.036 level as buying momentum increased sharply alongside rising trading volume. The latest recovery appears significant because XDC has broken above a prolonged descending channel pattern that had restricted

05-15

Hyperbridge launches $50K bug bounty after bridge exploit

Hyperbridge has launched a public bug bounty program on HackenProof, offering rewards of up to $50,000 for critical vulnerabilities. Hyperbridge offers $50,000 rewards for critical bugs as researchers review cross-chain messaging and fund safety.The program follows Aprils fake DOT exploit that exposed proof verification risks across Hyperbridge systems.HackenProof rules require proof-of-concept reports while banning live attacks and third-party exploit testing by researchers.　　The program invites independent security researchers to review the protocol codebase and submit reports through the security platform.　　The HackenProof page lists the Hyperbridge Protocol program as live and active. It describes Hyperbridge as a system that lets blockchains communicate and transfer assets through consensus and state proofs, rather than older bridge models that rely on multisig committees.　　Rewards cover key bridge risks　　Hyperbridge said rewards start at $200 for low-severity reports and rise to $2,000–$5,000 for medium findings. High-severity bugs can earn $5,000–$15,000, while critical vulnerabilities can receive up to $50,000.　　The scope covers the full Hyperbridge protocol repository. The team said researchers can report logic flaws, access-control issues, reentrancy, cross-chain message spoofing, state manipulation and any flaw that could affect message or fund integrity.　　April exploit pushed security review　　The program follows an April exploit in which an attacker minted roughly 1 billion

05-15

US Dollar Faces Summit-Driven Correction, Warns DBS

Tech　　US Dollar Faces Summit-Driven Correction, Warns DBS　　Singapores DBS Group Research has issued a note suggesting the US Dollar may be headed for a correction, driven by outcomes from recent international summits and shifting macroeconomic expectations. The analysis points to a confluence of factors—including trade policy adjustments and central bank signals—that could weaken the greenback in the near term.　　What Is Driving the Correction View？　　DBS strategists highlight that market sentiment has shifted following high-level diplomatic meetings, where trade and currency agreements have introduced new uncertainties. The bank‘s report emphasizes that the dollar’s recent strength was partly built on expectations of aggressive Federal Reserve tightening, but summit outcomes have tempered those bets. Additionally, a potential easing in geopolitical tensions could reduce safe-haven demand for the dollar.　　Key Economic Indicators at Play　　The analysis draws on recent data showing a slowdown in US manufacturing and a softening in consumer spending, which may give the Fed room to pause its rate hiking cycle. Meanwhile, other major economies, particularly in Asia and Europe, are showing signs of stabilization, narrowing the interest rate differential that had favored the dollar. DBS notes that the dollar index (DXY) could face resistance at recent highs and may correct toward lower support levels

05-15

Binance CMO Rachel Conlan to depart on June 15 amid marketing reassessment

Tech　　Binance CMO Rachel Conlan to depart on June 15 amid marketing reassessment　　Rachel Conlan, Binance‘s chief marketing officer, will step down from her role on June 15. She’ll remain in an advisory capacity during the transition, but the move marks a notable shift for the worlds largest crypto exchange by trading volume.　　Her replacement is Eowyn Chen, the former CEO of Trust Wallet, who will serve as interim CMO.　　A short but splashy tenure　　Conlan joined Binance in September 2023, arriving with a resume built on exactly the kind of high-wattage campaigns that crypto exchanges loved during flush times. Before Binance, she led branding efforts at rival exchange OKX, where she helped orchestrate the kind of partnerships that make traditional marketers raise an eyebrow.　　At Binance, her playbook was similar. Conlan spearheaded campaigns featuring Cristiano Ronaldo and The Weeknd, the sort of celebrity tie-ups designed to put a crypto brand in front of people who might not know a block explorer from a blockchain.　　One of her more memorable initiatives was “Crypto (Eau de Binance),” a perfume launched for International Womens Day.　　The bigger picture: exchanges are tightening their belts　　Conlan‘s exit fits neatly into a pattern that’s becoming hard to ignore across the exchange landscape. Crypto.com‘s CMO

05-15

Sam Altman testifies he was uncomfortable with Elon Musks demand for total control over OpenAI

Tech　　Sam Altman testifies he was uncomfortable with Elon Musks demand for total control over OpenAI　　Sam Altman took the stand in a federal courtroom and told a story that reads like a Silicon Valley succession drama. During discussions about restructuring OpenAI in 2017, Elon Musk didnt just want a seat at the table. He wanted to own the table, the chairs, and pass them down to his kids.　　Altman testified that Musk insisted on “total control” over a proposed for-profit subsidiary of OpenAI, going so far as to suggest that leadership of the entity should transfer to his children after his death. Altman said he found the demand uncomfortable, and more importantly, fundamentally at odds with how OpenAI was designed to operate.　　The founding principle that started the fight　　Here‘s the thing about OpenAI’s origin story: it was built around the idea that artificial general intelligence, the kind of AI that could match or exceed human-level reasoning, should never be controlled by a single person. That wasn‘t just a nice sentiment on a pitch deck. It was a foundational principle, one that Altman referenced directly as the reason he pushed back against Musk’s demands.　　Musk departed OpenAIs board in 2018, and the relationship between the

05-15

FTX Victims Sue Fenwick & West for $525M Over Alleged Role in Fraud

Twenty victims of the FTX collapse have filed a $525 million lawsuit against the prominent Silicon Valley law firm Fenwick & West, alleging it played a critical role in concealing the crypto exchange‘s massive fraud. The complaint, filed in the U.S. District Court for the District of Columbia, accuses Fenwick of helping structure shell entities, obscure fund movements, and provide legal guidance that enabled FTX’s misuse of customer assets.　　The plaintiffs argue that Fenwick‘s involvement gave FTX a veneer of legitimacy, preventing investors from recognizing the warning signs before the exchange’s implosion in November 2022. They also highlight the firm‘s alleged creation of North Dimension Inc., a Delaware shell company that funneled over $3 billion in stolen funds, and its advice on implementing FTX’s Signal auto-delete messaging policy, which prosecutors claim helped shield fraudulent activities from regulators.　　Testimony and Examiners Findings　　Central to the case is testimony from Nishad Singh, FTX‘s former Director of Engineering, who pleaded guilty to fraud charges. Singh testified that he informed Fenwick attorneys about the misuse of customer funds, but instead of distancing themselves, the firm allegedly advised on how to conceal it. This aligns with findings from a 2024 bankruptcy examiner’s report, which reviewed over 200,000 documents

05-15

Bitget Goes Legal in Mexico: Secures Critical SAT and UIF Registrations

Tech　　Bitget Goes Legal in Mexico: Secures Critical SAT and UIF RegistrationsBitget secures SAT and UIF registrations to legally expand crypto services in Mexico.Mexico becomes a key growth market for Bitgets wider Latin American expansion plans.Bitget says regulatory compliance will help strengthen trust with users and institutions.　　Universal exchange Bitget has completed key registrations in Mexico as the company pushes deeper into the Latin American market.　　The exchange announced that it has secured vulnerable activity registration with Mexico‘s Tax Administration Service (SAT). At the same time, it also completed registration with the country’s Financial Intelligence Unit (UIF). The approvals allow Bitget to operate within Mexicos current virtual asset framework.　　According to the company, these registrations make Bitget one of the first global crypto platforms to complete the process in Mexico.　　Mexico Becomes Key Market for Bitget　　Mexico has become an important market for crypto companies as digital asset adoption continues to rise across the country.　　Bitget said Mexico is now one of its largest markets in Central and Latin America. The company sees the country as a major part of its long-term regional expansion strategy because of its growing crypto user base and its wider financial influence across Latin America.　　The company plans to use its Mexico expansion

05-15

Can BNB price break above $750 as double bottom pattern forms?

The neckline of the pattern sits near the $680–$690 resistance zone, which bulls are currently attempting to reclaim decisively. A confirmed breakout above the neckline would validate the pattern and could potentially trigger a measured move toward the $780 region by adding the height of the formation to the breakout level.　　The current setup also shows BNB gradually reclaiming higher lows while continuing to trade firmly above the Supertrend indicator near the $627 region, signaling that buyers currently maintain broader trend control.　　Momentum indicators continue to support the bullish outlook. The MACD recently completed a bullish crossover while the histogram continues printing expanding green bars, suggesting upside momentum remains intact despite short-term consolidation below resistance.　　Meanwhile, the broader recovery structure remains constructive as long as BNB holds above the key $650 support zone. A successful breakout above the neckline resistance could strengthen momentum toward the psychological $700 level, followed by the $750–$780 region.　　However, failure to hold above current support levels could weaken the bullish setup and potentially trigger a pullback toward the $627 and $600 support zones, where buyers previously reentered aggressively.

05-15

XRP Burn Rate Surges 36% as Price Breaks Key Resistance

This parabolic price move saw XRP outperform other top cryptocurrencies like Bitcoin and Ethereum within the 24-hour trading period, signaling surging demand for the leading altcoin.　　Although the major influence behind XRPs rapid price surge remains uncertain, market participants believe that the asset is seeing increased demand from both retail and institutional investors.　　What to expect for XRP？　　While XRP has traded majorly on the bullish territory this month, the asset is expected to deliver bigger price returns for May, surpassing the monthly gains seen so far this year.　　As of the time of writing, XRP is already projecting a 7.77% gain for the month; this marks the highest monthly return recorded so far in 2024.　　While a bigger price move is expected in the coming days, the month might turn out to become XRPs strongest month so far.

05-15

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