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Project Overview
Bridge is building a stablecoin-powered money movement platform, offering services such as payouts, cross-border payments and exchanging foreign currencies. its Orchestration and Issuance APIs make it possible for any company and team to offer digital dollar-based services to their end consumers or businesses.
Stripe, Mastercard, and Circle acquired three stablecoin companies within two years, with total deal value exceeding $3 billion
Odaily News: Venture investor Alex Lazarow wrote that over the past two years, Stripe, Mastercard, and Circle respectively acquired U.S. stablecoin infrastructure company Bridge, UK stablecoin infrastructure company BVNK, and Singapore-based cross-border payment platform Tazapay, with the three deals totaling over $3 billion in value. Stripe announced in 2024 that it would acquire Bridge for slightly more than $1 billion; Mastercard's acquisition of BVNK was valued at up to $1.8 billion, including $1.5 billion in base consideration and $300 million in contingent consideration; Circle agreed to acquire Tazapay for $400 million in stock, with the deal expected to close in 2027. Bridge, BVNK, and Tazapay were founded between 2020 and 2022 and had raised approximately $200 million in cumulative funding. Growing stablecoin adoption, an increasingly clear regulatory framework, and rising demand for real-time cross-border payments are the main factors driving the related M&A activity. In 2025, stablecoin adjusted transaction volume grew 91% year-over-year to $10.9 trillion, approaching Visa's $14.2 trillion; real-world payment volume more than doubled to approximately $390 billion.
DIG Ventures Phase III Fund Completes $120 Million Raise, Will Focus on Investing in AI Infrastructure
According to Tech.eu, venture capital giant DIG Ventures has announced that its third fund has raised $120 million. Backed by Horsley Bridge, Sofina, Granite, and an endowment fund from a top U.S. university among other institutions, the fund will invest in AI-native enterprise software and cloud infrastructure startups at the Pre-seed and seed stages. Its investment focus covers infrastructure areas supporting AI-native enterprise software development, such as data, identity authentication, compliance, and orchestration. The fund plans to lead most investment rounds and has already begun deploying capital.
AI architecture company Pathway completes $30 million seed funding round, with participation from Id4 Ventures and others
Odaily News: AI architecture development company Pathway has announced the completion of a $30 million seed funding round, with participation from Id4 Ventures, TQ Ventures, Red Bridge Ventures, Kadmos Capital, and WS Investment, the investment arm of Wilson Sonsini, among others. Databricks' Chief AI Scientist Jonathan Frankle has joined as an angel investor.Pathway is developing a Bio-inspired Dynamic Hierarchical architecture (BDH), a "post-Transformer" architecture designed to overcome the limitations of current Transformer models, which continue to rely on ever-increasing data, GPUs, energy, and capital expansion. Unlike traditional large models that require periodic retraining, BDH enables continuous learning and ongoing adaptation with significantly less data.The company also announced the appointment of Adam Kurzrok, former product lead for Google DeepMind's Gemini, as Chief Product Officer. He will oversee the product direction of BDH models, covering areas such as model packaging, evaluation systems, and commercial deployment. (Finsmes)
AI Security Startup Mindgard Completes €26 Million Series A Funding Round, Led by Album VC
According to EU-Startups, AI security startup Mindgard announced the completion of a €26 million (approximately $30 million) Series A funding round, led by Album VC, with participation from Karma Ventures, .406 Ventures, Atlantic Bridge, IQ Capital, and Lakestar. Mindgard was founded by Dr. Peter Garraghan in 2022, incubated by Lancaster University in the UK, and is headquartered in Boston and London. The company's platform provides Shadow AI discovery, AI red teaming, and runtime AI protection capabilities, and has helped disclose over 150 high-impact AI security vulnerabilities, covering issues such as the Cursor IDE zero-day code execution vulnerability, Google Antigravity trusted workspace defects, and ChatGPT image generation protection failures.
Stripe acquires Bridge for $1.1 billion, Robinhood acquires Bitstamp for $200 million
Odaily News: Payment company Stripe did not sign long-term supplier contracts with third-party stablecoin APIs. Instead, after Bridge achieved $5 billion in annualized cross-border transaction volume, Stripe acquired it outright for $1.1 billion and integrated stablecoin infrastructure into its global checkout layer. Fintech platform Robinhood did not expand internationally through external trading venues. Instead, it acquired cryptocurrency exchange Bitstamp for $200 million, obtaining more than 50 global regulatory licenses and institutional liquidity. From 2012 to 2018, early B2B fintech startups paid traditional banks for proof-of-concept pilot fees. From 1996 to 2001, telecom infrastructure startups raised over $50 billion to lay dark fiber. (Bitcoin.com News)
Coinbase reportedly bid as high as $2.5 billion to acquire BVNK, ultimately losing out to Mastercard's $1.8 billion acquisition
Odaily News The inside story behind stablecoin infrastructure company BVNK's acquisition by Mastercard for $1.8 billion has recently come to light. According to Concentric, an early investor in BVNK, during the bidding process, US crypto exchange Coinbase once held an advantageous position and reportedly submitted a bid as high as $2.5 billion, but ultimately withdrew from the competition due to insufficient strategic and cultural alignment between the two parties.Kjartan Rist, founding partner of Concentric, stated that BVNK's founding team did not focus solely on the offer price when selecting an acquirer, but placed greater emphasis on long-term partnership and corporate culture fit. "Coinbase may have offered a higher price, but the chemistry between the two sides was not ideal." In contrast, Mastercard, as a traditional financial services company, is more likely to create synergies with BVNK in payment infrastructure and stablecoin applications.It is understood that Mastercard participated in acquisition discussions with BVNK at an early stage, and after Coinbase failed to advance the deal, Mastercard re-emerged as the primary buyer, ultimately completing the acquisition for $1.8 billion.Visa also participated in the competition. Having previously invested in BVNK and holding a board observer seat, Visa once had an advantage. However, Visa ultimately chose not to pursue a direct acquisition, instead adopting an open strategy of partnering with multiple stablecoin companies.Founded in 2018, BVNK provides enterprises with stablecoin payment, cross-border settlement, and treasury management infrastructure. Its early investor Concentric invested in the company at a valuation of $4 million in 2019, and this transaction has generated substantial returns.The acquisition also reflects a new round of competition between traditional payment giants and crypto companies over stablecoin infrastructure. Previously, Stripe acquired stablecoin infrastructure company Bridge for $1.1 billion, prompting payment giants such as Visa and Mastercard to accelerate their expansion into the stablecoin sector.Currently, the global stablecoin market size has approached $300 billion. As enterprise payments, cross-border settlements, and treasury management use cases grow rapidly, stablecoin infrastructure is becoming a critical gateway for traditional financial institutions to capture. (CoinDesk)
Bessent: U.S. Treasury Will Bridge the Crypto Regulatory Gap Between SEC and CFTC
Odaily reports: U.S. Treasury Secretary Bessent stated that regardless of whether Congress takes action, the U.S. Treasury will push to bridge the cryptocurrency regulatory gap between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). This statement indicates that even if relevant legislation stalls at the congressional level, the Treasury still plans to promote coordination of the two regulators' regulatory frameworks.
Zilliqa: Cross-chain bridge and proxy contracts compromised, CEO resigns
Zilliqa stated that the investigation into the recent security incident is ongoing. The affected components include the ZRC2 proxy contracts used by X-Bridge and certain liquidity pools, involving tokens such as zUSDT, SEED, kUSD, and Zoge. Zilliqa emphasized that the native ZIL and Zilliqa EVM networks remain unaffected. X-Bridge will continue to be suspended, and users are advised to avoid using the cross-chain bridge and affected liquidity pools for the time being.
Prince Group Asset Investigation Advances: Chinese Victims May Be Eligible to File Claims, Over 90,000 BTC Once Flowed Through Affiliated Entities
Odaily Report: Following the capture of Chen Zhi, the "mastermind" behind Cambodia's Prince Group, multiple jurisdictions have successively initiated proceedings to dispose of Prince Group's related assets. In connection with the 30 British Virgin Islands (BVI) entities effectively controlled by Chen Zhi, local courts have appointed Joint Provisional Liquidators (JPLs) to investigate and preserve the corresponding assets. The BVI insolvency proceedings are collective in nature, and eligibility to file claims is not determined by nationality or jurisdiction—potential victims from any jurisdiction may file claims. This means that victims of telecom fraud and online gambling from China may also be able to submit claims at some point in the future.It is noted that "the scope of liquidation is not determined solely on the basis of sanctions." Two companies not subject to sanctions but included in the liquidation list—Amber Hill Ventures Limited ("AHV") and Lateral Bridge Global Limited ("LBG")—were mentioned in U.S. judicial proceedings and are entities within the broad network associated with Prince Group. Prosecutors stated that of the more than 120,000 BTC seized by the United States, over 90,000 BTC flowed through AHV, LBG, and another entity registered in the Cayman Islands, Future Technology Investment. As for claims by victims of telecom fraud and online gambling, no claims filing and distribution process has yet been established. If liquidation proceedings commence in the future and sufficient funds are available to support distributions to creditors, the liquidators will establish a claims process, adjudicate claims, and make distributions in accordance with BVI insolvency law. (Caixin)
Cysic Cross-Chain Bridge Attacked: 10 Million CYS Unauthorizedly Minted on BNB Chain
The Cysic Foundation released an incident report stating that on October 17, its cross-chain bridge experienced a security incident in which an attacker minted 10 million CYS without authorization on the BNB Smart Chain. Upon discovering the anomaly, the project team suspended the cross-chain bridge, placed related addresses on an on-chain blacklist, and hired a professional security firm to investigate the attack vectors and fund flows.
Cysic Cross-Chain Bridge Paused After Unauthorized Minting of 10 Million CYS Tokens
Odaily reports: The crypto project Cysic has announced that its cross-chain bridge was paused on Saturday after an attacker exploited a processing flaw to mint 10 million CYS tokens without authorization on BNB Smart Chain. Preliminary investigations indicate that the attacker may have gained unauthorized access to the database supporting the bridge.The unauthorized minting occurred at 12:31:38 UTC, and Cysic blacklisted the receiving address in the token contract at 13:47:52. The address currently still holds approximately 2.8 million CYS, and related transfers have been restricted.Cysic stated that the incident only involved cross-chain bridge message processing and token minting, and did not affect the mainnet or other operating systems, nor did it result in the theft or unauthorized transfer of existing CYS or other assets in user wallets. Token transfers, swaps, and actual losses are still under review, and the company has engaged security firms and plans to release a follow-up report. (Cointelegraph)
The tokenized asset market size is approximately $39.1 billion, with treasury bonds and credit products accounting for 61%.
According to Digital Today, Toss Insight, the financial research institute under South Korean fintech platform Toss, released a report titled "DeFi · Tokenized Assets: The Bridge Between Traditional Finance and On-Chain Finance" on October 16. The report indicates that as of early September 2026, the tokenized assets market size was approximately $39.1 billion. Among these, credit products such as U.S. Treasuries, money market funds (MMFs), and corporate loans collectively accounted for about 61%. The report points out that the market is currently concentrated on products with stable yields and high suitability as collateral. While tokenization has lowered investment thresholds, investment eligibility may still be restricted due to product structures and regulations across different jurisdictions. For example, most currently tokenized U.S. equities utilize a cash settlement structure, meaning investors do not actually hold the underlying shares. Tokenized Treasuries and funds are also predominantly open only to accredited investors.
Privy's wallet asset scale grows about 25x and revenue grows about 9x more than a year after joining Stripe
Odaily reports: Patrick Collison posted on X that more than a year after Privy joined Stripe, its wallet asset scale has grown to about 25 times its previous level, its number of monthly active developers has grown about 3 times, and its revenue has grown about 9 times. It currently facilitates nearly $25 billion in transactions per month. Companies such as Ramp, Deel, Klarna, and Hyperliquid are building embedded banking features based on Privy. Stripe is integrating Privy into Treasury, Link, and Connect, and plans to launch a Link balance feature. Privy's wallet infrastructure already supports AI agents in conducting transactions and earning income. Stripe, together with Privy, Bridge, and other businesses, is building a unified API to support holding stablecoin balances and earning yield, fiat funding inflows and outflows, and arranging spending through bank cards.
Blast announces it is shutting down; users must withdraw their assets to the Ethereum mainnet by October 26.
Users can complete withdrawals via the standard Blast interface before October 26. Afterward, assets can still be withdrawn, but require direct interaction with the Blast Bridge contract on Ethereum L1. The team will publish specific instructions before the deadline.
Privy launches stablecoin card prebuilt component, covering 25+ card issuing markets
Privy has launched a stablecoin card prebuilt component, enabling applications to embed a cardholder experience with a single integration, and has partnered with Stripe to issue stablecoin cards. The service currently covers more than 25 card issuing markets and plans to expand to over 100 by the end of the year. Users can spend directly using their Privy wallet or DeFi vault balances without needing to pre-transfer funds to a separate card account. The card issuer is Lead Bank, program management is handled by Bridge, and Stripe provides issuance services.
SlowMist Unveils Details of Allbridge Bridge Attack: Forged CCTP Messages + Flash Loans, Insufficient Mint Verification
Odaily News, SlowMist Security Team disclosed that the cross-chain bridge project Allbridge suffered an attack on August 19, 2026, with losses of approximately $190,000. Notably, this attack was not executed instantaneously—the attacker began laying the groundwork nearly a month in advance, bypassing the verification mechanism through forged cross-chain messages.According to SlowMist's analysis, on July 26, the attacker directly called Circle's MessageTransmitterV2.sendMessage function on the Polygon chain, constructing a cross-chain message disguised as CCTP-style, claiming a transfer of 1 million USDC, despite no actual USDC burn operation occurring. Subsequently, Circle generated a valid attestation for this complete message following standard procedures.Approximately 24 days later, on August 19, the attacker waited for the Base Router to receive a genuine CCTP deposit, bringing its balance to approximately 191,000 USDC, then launched the attack just 6 seconds later. Using the previously forged message and attestation, the attacker called Allbridge's receiveCctpMessage function. Due to the project's lack of critical validation, the system mistook the fraudulent cross-chain message for a genuine deposit and recorded a 1 million USDC credit.Subsequently, the attacker borrowed approximately 809,000 USDC temporarily via an Aave flash loan to match the Router's balance with the forged amount, then utilized the internal credit record to call the transfer function, ultimately moving out approximately 999,000 USDC (after deducting a 0.1% fee). After repaying the flash loan and fees, the attacker netted approximately $189,800 in profit. The root cause of this vulnerability lies in Allbridge's failure to verify the identity of the cross-chain message sender and receiver, as well as its failure to confirm whether USDC was genuinely minted or whether the balance actually increased—instead directly trusting the amount and message hash data constructed by the attacker.SlowMist emphasized that on-chain message verification does not equate to actual asset arrival. Cross-chain protocols must not only verify message authenticity but also ensure the message source is trustworthy, confirm the receiver is Circle's official TokenMessengerV2, and only record assets after confirming actual minting and balance changes. This incident once again highlights the security risks in cross-chain bridges' message verification and asset settlement processes.
Nearly $3 Million in Unusual GALA Transfers Detected on GalaChain; Cross-Chain Bridge Suspended
According to reporter Kate Irwin (@kateirwin), GalaChain experienced an anomalous on-chain capital outflow this Tuesday. Approximately 1.99 billion GALA tokens (worth roughly $2.9 million), along with other tokens, were transferred from five major addresses to a newly created wallet, subsequently bridged out and swapped for ETH within approximately one hour. Of these, approximately 1.639 billion GALA (representing roughly 82%) originated from a wallet linked to Gala Games CEO and co-founder Eric Schiermeyer, which simultaneously transferred out other tokens valued at over $500,000. Within hours of the incident, the Gala development team urgently merged a fix commit on GitHub, classifying the event as resulting from a GalaChain EIP-712 unsigned field injection vulnerability. The Gala Ethereum cross-chain bridge has since been halted, with the Solana bridge concurrently deactivated. While officially cited as routine maintenance, users have been unable to access the cross-chain bridge services normally for several consecutive days.
VerusCoin Ethereum Cross-Chain Bridge Attacked, Approximately $7.53 Million Transferred Out
According to CertiK Alert monitoring, a security incident occurred on VerusCoin's Ethereum cross-chain bridge, with approximately $7.53 million in assets transferred out. Preliminary analysis indicates that this issue may be related to the cross-chain bridge failing to sufficiently verify whether the Verus chain-side input supports the paid amount, similar to an incident that occurred in May this year.
Israel Extradites Suspect in Nomad Bridge Attack to the U.S., Related Exploit Later Led to Over $186 Million Stolen
Odaily reports: Israel's State Attorney's Office announced on Thursday that Israel has extradited Alexander Block, a dual Israeli-Russian national, to the United States. Block, whose original name is Alexander Gurevich, faces charges for allegedly stealing approximately $2.8 million from the crypto cross-chain bridge Nomad in 2022.U.S. prosecutors allege that Block, operating under the username "Bitlik," carried out six test transfers and four main transfers, moving tokens through multiple wallets and converting them into other cryptocurrencies to conceal their origin. His actions exposed a vulnerability in Nomad's smart contract, after which other users drained over $186 million from wallets controlled by the project.Israel's Supreme Court rejected Block's extradition appeal, ruling that even if the software permits the actions in question, exploiting a programming vulnerability can still constitute unauthorized computer intrusion; the court also noted that publicly visible on-chain transactions do not necessarily reveal the identity of wallet controllers, nor do they rule out attempts to conceal the source of funds. Supreme Court President Isaac Amit subsequently denied his request for a retrial. (Decrypt)
Cysic Restores Cross-Chain Bridge Services and Burns Over 7.2 Million CYS
According to an official announcement from Cysic, following the cross-chain bridge security incident that occurred earlier, Cysic has fully resumed its cross-chain bridge services, and users can now once again transfer CYS across chains between the Cysic mainnet and other supported blockchains. Additionally, Cysic has permanently burned 7,200,002 CYS on the BNB Smart Chain and confirmed that this operation has been recorded on-chain.
Blockaid: zkLink Cross-Chain Bridge Attacked, Approximately $786,000 Stolen
Blockaid has published two attacker addresses, example attack transactions, victim contracts, and cross-chain bridge addresses. One of the attacker addresses (0xaCA0...5718) currently holds a balance of approximately $11,000 USD.
Zilliqa: Cross-chain bridge and proxy contracts compromised, CEO resigns
Zilliqa stated that the investigation into the recent security incident is ongoing. The affected components include the ZRC2 proxy contracts used by X-Bridge and certain liquidity pools, involving tokens such as zUSDT, SEED, kUSD, and Zoge. Zilliqa emphasized that the native ZIL and Zilliqa EVM networks remain unaffected. X-Bridge will continue to be suspended, and users are advised to avoid using the cross-chain bridge and affected liquidity pools for the time being.
Blockaid: WAX Multichain Bridge Under Attack, Approximately 53,000 USDC and Other Assets Stolen
according to Blockaid monitoring, the WAX multichain bridge on the WAX network is under attack, involving WAX, Solana, and Ethereum. The attacker withdrew mapped tokens on the WAX chain without paying the corresponding assets, while the bridge contracts on Solana and Ethereum still released the corresponding tokens. The attacker transferred approximately 52,986 USDC, 21,558 USDT, 840 DAI, 2.55 WETH, and 0.11 WBTC through 5 transactions. The scope of the incident's impact and whether losses are still expanding remain to be further confirmed.
Cysic: Mainnet Operations Unaffected, Cross-Chain Bridge Remains Paused
Cysic has issued a service status update stating that the Cosmos explorer is temporarily unavailable, Cysic mainnet operations are unaffected, and explorer access is being restored as quickly as possible. Following the recent security incident, the cross-chain bridge remains paused. Funds related to pending cross-chain transactions remain safely held in the cross-chain bridge contract, and the relevant transactions will be processed once the cross-chain bridge is secure again.
Cysic Restores Cross-Chain Bridge Services and Burns Over 7.2 Million CYS
According to an official announcement from Cysic, following the cross-chain bridge security incident that occurred earlier, Cysic has fully resumed its cross-chain bridge services, and users can now once again transfer CYS across chains between the Cysic mainnet and other supported blockchains. Additionally, Cysic has permanently burned 7,200,002 CYS on the BNB Smart Chain and confirmed that this operation has been recorded on-chain.
Prince Group Asset Investigation Advances: Chinese Victims May Be Eligible to File Claims, Over 90,000 BTC Once Flowed Through Affiliated Entities
Odaily Report: Following the capture of Chen Zhi, the "mastermind" behind Cambodia's Prince Group, multiple jurisdictions have successively initiated proceedings to dispose of Prince Group's related assets. In connection with the 30 British Virgin Islands (BVI) entities effectively controlled by Chen Zhi, local courts have appointed Joint Provisional Liquidators (JPLs) to investigate and preserve the corresponding assets. The BVI insolvency proceedings are collective in nature, and eligibility to file claims is not determined by nationality or jurisdiction—potential victims from any jurisdiction may file claims. This means that victims of telecom fraud and online gambling from China may also be able to submit claims at some point in the future.It is noted that "the scope of liquidation is not determined solely on the basis of sanctions." Two companies not subject to sanctions but included in the liquidation list—Amber Hill Ventures Limited ("AHV") and Lateral Bridge Global Limited ("LBG")—were mentioned in U.S. judicial proceedings and are entities within the broad network associated with Prince Group. Prosecutors stated that of the more than 120,000 BTC seized by the United States, over 90,000 BTC flowed through AHV, LBG, and another entity registered in the Cayman Islands, Future Technology Investment. As for claims by victims of telecom fraud and online gambling, no claims filing and distribution process has yet been established. If liquidation proceedings commence in the future and sufficient funds are available to support distributions to creditors, the liquidators will establish a claims process, adjudicate claims, and make distributions in accordance with BVI insolvency law. (Caixin)
Ondo Announces 15 Tokenized Stocks Launch on Robinhood Chain
Odaily reports: Ondo has announced that 15 tokenized stocks and ETFs are now live on Robinhood Chain, with 11 of them open for trading in StablePair liquidity pools on Uniswap v4. The pools allow traders to swap directly between Ondo Stocks and Robinhood Stock Tokens that track the same underlying assets, while liquidity providers can earn fees by providing liquidity.Ondo stated that its tokenized stocks support round-the-clock minting and redemption, providing traders with an additional source of liquidity, exit channels, and arbitrage opportunities during periods when Robinhood Stock Tokens suspend minting and redemption on weekends, helping to narrow the price deviation between on-chain prices and the underlying asset prices. The 15 assets launched this time also include 4 assets that do not yet have corresponding Robinhood Stock Tokens, such as Robinhood (HOODon), iShares China Large-Cap ETF (FXIon), BitMine (BMNRon), and the United States Copper Index Fund (CPERon).Ondo Stocks can be bridged between Robinhood Chain and BNB Chain or Ethereum via Ondo Bridge, and can be minted and redeemed on the latter two.
GMGN Co-founder: In-house Cross-Chain Bridge Is Undergoing Limited Testing, Will Soon Support Purchasing Multi-Chain Tokens with USDC
Odaily reports: GMGN co-founder Haze posted that GMGN's in-house cross-chain bridge is currently undergoing limited-scale testing with increased volume, with a focus on ensuring fast, secure, and stable transactions.Haze stated that once this feature launches, users will be able to purchase tokens across multiple blockchains directly within the GMGN App using USDC.
Pump.fun Co-founder Alon: In-house cross-chain bridge Pump Bridge is now live, buy error rate down 92%
Pump.fun co-founder and COO Alon posted on X that the platform's in-house cross-chain bridge, Pump Bridge, is now available to all app users. According to the test data he published, compared with the previously used cross-chain service provider Relay, Pump Bridge improves buy execution speed by about 2x, reduces transaction error rate by 92% from over 11% to under 1%, and on average yields more tokens for the same capital, while currently charging no additional cross-chain fees.Alon noted that previously, roughly 1 in every 9 cross-chain buys on Relay encountered an error, with a typical transaction taking close to 4 seconds and about 10% of transactions taking more than 7 seconds. He also said that the social trading app FOMO is still using Relay.The above results come from randomized testing conducted between September 28 and October 7, covering networks including Robinhood, BSC, Base, Arc, and Ink but excluding Ethereum, with a total of 416,669 transaction results recorded, of which 383,326 were used for transaction timing statistics and 35,333 USDC buys under $500 were used to compare execution performance.In addition, Alon said that the platform fee rate for the Pump.fun app is 0.45%, Callout rewards are distributed at at least $300,000 per day and have totaled about $20 million over the past two months. During the limited-time referral reward campaign, referrers can receive all platform fees generated by referred users, while the platform says it will not retain any platform fee revenue.
Cysic: Mainnet Operations Unaffected, Cross-Chain Bridge Remains Paused
Cysic has issued a service status update stating that the Cosmos explorer is temporarily unavailable, Cysic mainnet operations are unaffected, and explorer access is being restored as quickly as possible. Following the recent security incident, the cross-chain bridge remains paused. Funds related to pending cross-chain transactions remain safely held in the cross-chain bridge contract, and the relevant transactions will be processed once the cross-chain bridge is secure again.
Related news
Israel Extradites Suspect in Nomad Bridge Attack to the U.S., Related Exploit Later Led to Over $186 Million Stolen
Odaily reports: Israel's State Attorney's Office announced on Thursday that Israel has extradited Alexander Block, a dual Israeli-Russian national, to the United States. Block, whose original name is Alexander Gurevich, faces charges for allegedly stealing approximately $2.8 million from the crypto cross-chain bridge Nomad in 2022.U.S. prosecutors allege that Block, operating under the username "Bitlik," carried out six test transfers and four main transfers, moving tokens through multiple wallets and converting them into other cryptocurrencies to conceal their origin. His actions exposed a vulnerability in Nomad's smart contract, after which other users drained over $186 million from wallets controlled by the project.Israel's Supreme Court rejected Block's extradition appeal, ruling that even if the software permits the actions in question, exploiting a programming vulnerability can still constitute unauthorized computer intrusion; the court also noted that publicly visible on-chain transactions do not necessarily reveal the identity of wallet controllers, nor do they rule out attempts to conceal the source of funds. Supreme Court President Isaac Amit subsequently denied his request for a retrial. (Decrypt)
Cysic Restores Cross-Chain Bridge Services and Burns Over 7.2 Million CYS
According to an official announcement from Cysic, following the cross-chain bridge security incident that occurred earlier, Cysic has fully resumed its cross-chain bridge services, and users can now once again transfer CYS across chains between the Cysic mainnet and other supported blockchains. Additionally, Cysic has permanently burned 7,200,002 CYS on the BNB Smart Chain and confirmed that this operation has been recorded on-chain.
Blockaid: zkLink Cross-Chain Bridge Attacked, Approximately $786,000 Stolen
Blockaid has published two attacker addresses, example attack transactions, victim contracts, and cross-chain bridge addresses. One of the attacker addresses (0xaCA0...5718) currently holds a balance of approximately $11,000 USD.
Bessent: U.S. Treasury Will Bridge the Crypto Regulatory Gap Between SEC and CFTC
Odaily reports: U.S. Treasury Secretary Bessent stated that regardless of whether Congress takes action, the U.S. Treasury will push to bridge the cryptocurrency regulatory gap between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). This statement indicates that even if relevant legislation stalls at the congressional level, the Treasury still plans to promote coordination of the two regulators' regulatory frameworks.
Zilliqa: Cross-chain bridge and proxy contracts compromised, CEO resigns
Zilliqa stated that the investigation into the recent security incident is ongoing. The affected components include the ZRC2 proxy contracts used by X-Bridge and certain liquidity pools, involving tokens such as zUSDT, SEED, kUSD, and Zoge. Zilliqa emphasized that the native ZIL and Zilliqa EVM networks remain unaffected. X-Bridge will continue to be suspended, and users are advised to avoid using the cross-chain bridge and affected liquidity pools for the time being.
Prince Group Asset Investigation Advances: Chinese Victims May Be Eligible to File Claims, Over 90,000 BTC Once Flowed Through Affiliated Entities
Odaily Report: Following the capture of Chen Zhi, the "mastermind" behind Cambodia's Prince Group, multiple jurisdictions have successively initiated proceedings to dispose of Prince Group's related assets. In connection with the 30 British Virgin Islands (BVI) entities effectively controlled by Chen Zhi, local courts have appointed Joint Provisional Liquidators (JPLs) to investigate and preserve the corresponding assets. The BVI insolvency proceedings are collective in nature, and eligibility to file claims is not determined by nationality or jurisdiction—potential victims from any jurisdiction may file claims. This means that victims of telecom fraud and online gambling from China may also be able to submit claims at some point in the future.It is noted that "the scope of liquidation is not determined solely on the basis of sanctions." Two companies not subject to sanctions but included in the liquidation list—Amber Hill Ventures Limited ("AHV") and Lateral Bridge Global Limited ("LBG")—were mentioned in U.S. judicial proceedings and are entities within the broad network associated with Prince Group. Prosecutors stated that of the more than 120,000 BTC seized by the United States, over 90,000 BTC flowed through AHV, LBG, and another entity registered in the Cayman Islands, Future Technology Investment. As for claims by victims of telecom fraud and online gambling, no claims filing and distribution process has yet been established. If liquidation proceedings commence in the future and sufficient funds are available to support distributions to creditors, the liquidators will establish a claims process, adjudicate claims, and make distributions in accordance with BVI insolvency law. (Caixin)