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Following a ₱17.67 billion ($292 million) KelpDAO exploit linked to LayerZero bridge vulnerabilities, Solv Protocol is migrating its tokenized Bitcoin infrastructure to Chainlink's Cross-Chain Interoperability Protocol, affecting ₱42.35 billion ($700 million) in SolvBTC and xSolvBTC assets.
Aave absorbed ₱17.78 billion ($292 million) in losses after hackers exploited Kelp DAO's rsETH bridge, leaving the platform carrying between ₱10.35 billion ($170 million) and $230 million in bad debt. AAVE token crashed to $93.90 as retail traders capitulated while institutional money began accumulating.
The FBI dismantled a decade-long insider trading operation that exploited merger and acquisition data from top US law firms. The scheme targeted non-public information that typically moves stock prices before public announcements.
Despite April's DeFi crisis that saw Aave lose ₱1.04 trillion ($17 billion) in deposits following KelpDAO's ₱18.42 billion ($300 million) exploit, Standard Chartered Global Head of Digital Assets Research Geoffrey Kendrick projects the tokenisation market will reach ₱122.77 trillion ($2 trillion) by 2028.
Social engineering has become the primary attack vector in crypto theft. Instead of exploiting code vulnerabilities, hackers build relationships with employees and pose as trusted partners to trick them into installing malicious software or signing unauthorized transactions.