The OKX cryptocurrency exchange and security partner SlowMist are investigating a multi-million dollar exploit that resulted in two stolen user accounts. The investigation pertains to the theft of two OKX exchange accounts on June 9 through an SMS attack, also known as a SIM swap. This information was reported by Yu Xian, founder of SlowMist,…

The road of tech giants embracing blockchain is littered with failures. Just look at Meta, which abandoned plans to launch the Diem stablecoin after three messy years and an almighty backlash. But there are bright spots — and projects showing a lot more promise. The Open Network (TON) — formerly known as Telegram Open Network…

What is the Ethereum Prague-Electra (Pectra) upgrade? Ethereum’s Pectra upgrade combines two separate upgrades: the Prague upgrade and the Electra upgrade. The Prague upgrade is focused on changes to the network’s execution layer, with the Electra upgrade impacting the consensus layer. These upgrades, when combined, are collectively referred to as the “Pectra” upgrade. The Pectra…

Ethereum zero-knowledge (ZK) layer-2 scaler zkSync has launched its self-titled token, zkSync (ZK), and plans to airdrop nearly 3.68 billion of them “next week.” The project said on June 11 that starting next week, it will airdrop 17.5% of the token’s total supply of 21 billion to the 695,232 eligible wallets — with the rest set aside for initiatives,…

Polygon has launched a $720 million Community Treasury dedicated to supporting blockchain projects over the next 10 years. The initiative promises to support developers within the Polygon and Ethereum ecosystems. The $720 billion fund will allocate an initial 35 million Polygon tokens (worth roughly $25 million) for the Community Grants Program (CGP) first season. The Community…

Fiat money and cryptocurrencies share similar use cases but both come with drawbacks that critics claim make them unethical to use. Common arguments for Bitcoin being unethical include its impact on the environment through high electricity costs from mining, along with potential use by criminal elements, and the lack of regulation and user protections. Conversely, critics…

Ethereum layer-2 Optimism has implemented fault proofs into its smart contracts, according to its development team, OP Labs. According to the team, Optimism has now reached “Stage 1” of decentralization, referring to a list of milestones articulated by Ethereum co-founder Vitalik Buterin. At least four other OP Stack networks will implement the fault proofs “soon,”…

The Arbitrum Foundation, the team responsible for the Ethereum rollup-based layer-2 network Arbitrum, has committed substantial resources to developing the gaming industry within its ecosystem. The proposal sets aside 225 million Arbitrum (ARB) tokens valued at approximately $215 million to be distributed over three years through the newly established Gaming Catalyst Program (GCP). The program aims to…

Ethereum leaders must choose between supporting a capitalist or socialist economic system, but they can’t do both, according to digital assets market maker Wintermute CEO Evgeny Gaevoy. “You are either building capitalism or planned socialism. I’m sorry, you really can’t have both,” Gaevoy declared in a June 6 post on X, following both Ethereum co-founder Vitalik Buterin and Ethereum-based…

Total value locked on the Ethereum layer-2 network Base has surpassed $8 billion — only days after overtaking Optimism’s OP Mainnet. L2Beat data shows its TVL as of June 10 is now at $8.05 billion, including $2.14 billion of canonically bridged value — assets locked on Ethereum to be represented on Base — and $5.92 billion in natively minted…