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Project Overview
MegaETH is a real-time execution layer settled on Ethereum that utilizes node specialization to achieve high throughput and low latency. The network architecture features a single active sequencer for transaction ordering, while separating execution from validation through a "stateless validation" mechanism.
Decentralized futures exchange MNX completes $6.4 million funding round, with participation from Village Global and others
MNX, a decentralized futures exchange focused on the AI economy, has completed a $6.4 million funding round with participation from Village Global, Cambrian, Relay Digital, North Island Ventures, and others. MNX aims to build AI-native derivatives infrastructure, covering futures on GPU rental prices and data center electricity costs, valuation markets for private labs such as OpenAI, Anthropic, and DeepSeek, AI benchmarks and financial forecasting markets, as well as perpetual contracts for AI-related global equities. The platform supports leverage, portfolio margin, and batch auction for fair execution. Settlements are conducted in a fully non-custodial manner on MegaETH, with the mainnet scheduled to launch this summer.
Tokenization startup Brix closes $5.5M funding round, with participation from Circle Ventures and others
According to The Block, Brix—a startup focused on tokenizing emerging-market assets—has announced a $5.5 million funding round. Participants include Yapi Kredi’s venture capital arm, FRWRD, IS Asset Management, and crypto investment firms Circle Ventures, ConsenSys, and Borderless Capital. Brix plans to launch on the MegaETH network, aiming to bring traditionally institutional trading strategies—such as Turkish lira arbitrage—on-chain.
ZachXBT: US Law Firms' "Free-Riding Claims" May Hinder Recovery and Compensation of Funds for Hacking Victims
Odaily Odaily PaperImperium, the head of MegaETH, disclosed on X platform that documents from the U.S. District Court for the Southern District of New York show that a U.S. court has issued an injunction against the Arbitrum DAO, prohibiting it from transferring approximately $71 million in ETH assets that were previously frozen during the KelpDAO hacking incident. In response, on-chain detective ZachXBT posted on X platform, stating that certain U.S. law firms are using his investigative work and on-chain forensics to help victims of some hacking incidents file legal claims. However, this practice may actually slow down or hinder victims from receiving compensation or recovering funds.ZachXBT added that in previous hacking incidents involving the Lazarus Group, such law firms often stepped in after on-chain fund tracking or freezing was completed, proposing subsequent legal actions that were weakly related to the crypto incidents themselves. Similar "free-riding claims" strategies were used in events like Harmony and Bybit. He called on the crypto community to establish a DAO to resist such practices.
New York court orders Arbitrum DAO to freeze $71 million in ETH, potentially for compensation to victims of North Korea-related cases
: MegaETH lead PaperImperium disclosed on X platform a court document from the U.S. District Court for the Southern District of New York, showing that a U.S. court has issued an injunction against the Arbitrum DAO, prohibiting it from transferring approximately $71 million worth of ETH assets that were previously frozen in the KelpDAO hacking incident. The plaintiffs are attempting to use these funds to enforce outstanding judgment compensation in cases related to North Korea's involvement in terrorism, kidnapping, and other matters spanning several years. They have also filed a motion to serve legal notice to the Arbitrum DAO via alternative means, treating it as an accountable "partnership." The court document further notes that the Arbitrum DAO has a Security Council governed by ARB holders, which has the authority to take action in emergencies. As a result, relevant members who refuse to comply may face legal consequences such as contempt of court. Market observers believe that this case could set an important precedent for the U.S. judicial system to directly constrain DAO governance structures, further highlighting the compliance pressure faced by DeFi protocols under real-world legal frameworks.
MegaETH Announces Eight-Week Odyssey Ahead of TGE, Tomorrow's TGE Probability Reaches 97%
Monitoring from the Odaily Seer Channel shows that the probability of "MegaETH TGE Tomorrow" on Polymarket is currently at 97%, up 6% in 24 hours, with a trading volume of nearly $2.5 million.Additionally, last night MegaETH announced the launch of its Odyssey event, running from April 28 to June 23. After the event concludes, eligible participants will receive rewards based on their activity level, subject to meeting qualification requirements, sanctions screening, and successful completion of KYC verification.This market will settle as "Yes" if MegaETH officially launches its governance token before 11:59 PM Eastern Time on the date indicated in the title; otherwise, it will settle as "No".The token must be publicly transferable and tradable; a mere announcement does not constitute fulfilling the condition.This market primarily relies on official information from MegaETH as the basis for settlement, while also referencing consensus formed by credible media reports.The Odaily Seer Channel continues to monitor prediction markets, spotting changes before prices are set.
Lending protocol Purrlend suffered an attack, with losses of approximately $1.52 million
the lending protocol Purrlend was attacked on the MegaETH and HyperEVM networks, resulting in losses of approximately $1.52 million. The attacker extracted approximately $1.2 million in assets from the HyperEVM network, including 449,683 USDC, 214,125 USDT0, 194,745 USDH, and portions of UBTC, wstHYPE, UETH, kHYPE, and WHYPE. The attacker also extracted approximately $324,000 in assets from the MegaETH network, including USDT0, WETH, and USDm. Purrlend has since paused the protocol and launched an investigation. The attacker's address has been identified on the block explorers of both networks.
Bitget to List SKYAI and MEGA Spot Trading
Bitget will list SKYAI (SKYAI) and MegaETH (MEGA) spot trading. Deposit channels are now open, and trading channels will open at 16:00 and 19:00 (UTC+8) on April 30, respectively.
Coinbase to List WRON and MEGA Tokens, Now Supports AI and VIRTUAL Trading
Coinbase has announced it will list Wrapped Ronin (WRON) for spot trading. If liquidity conditions are met, the WRON-USD trading pair is expected to open after 00:00 Beijing time on May 1st. Simultaneously, Coinbase will support MegaETH (MEGA). Users can now generate deposit addresses, but deposits can only be made after the project team enables transfers. The specific listing time for trading will be announced separately.Additionally, Coinbase has listed Gensyn (AI) and Virtuals Protocol (VIRTUAL), allowing users to buy, sell, swap, and transfer these tokens on the platform.
ZachXBT: US Law Firms' "Free-Riding Claims" May Hinder Recovery and Compensation of Funds for Hacking Victims
Odaily Odaily PaperImperium, the head of MegaETH, disclosed on X platform that documents from the U.S. District Court for the Southern District of New York show that a U.S. court has issued an injunction against the Arbitrum DAO, prohibiting it from transferring approximately $71 million in ETH assets that were previously frozen during the KelpDAO hacking incident. In response, on-chain detective ZachXBT posted on X platform, stating that certain U.S. law firms are using his investigative work and on-chain forensics to help victims of some hacking incidents file legal claims. However, this practice may actually slow down or hinder victims from receiving compensation or recovering funds.ZachXBT added that in previous hacking incidents involving the Lazarus Group, such law firms often stepped in after on-chain fund tracking or freezing was completed, proposing subsequent legal actions that were weakly related to the crypto incidents themselves. Similar "free-riding claims" strategies were used in events like Harmony and Bybit. He called on the crypto community to establish a DAO to resist such practices.
New York court orders Arbitrum DAO to freeze $71 million in ETH, potentially for compensation to victims of North Korea-related cases
: MegaETH lead PaperImperium disclosed on X platform a court document from the U.S. District Court for the Southern District of New York, showing that a U.S. court has issued an injunction against the Arbitrum DAO, prohibiting it from transferring approximately $71 million worth of ETH assets that were previously frozen in the KelpDAO hacking incident. The plaintiffs are attempting to use these funds to enforce outstanding judgment compensation in cases related to North Korea's involvement in terrorism, kidnapping, and other matters spanning several years. They have also filed a motion to serve legal notice to the Arbitrum DAO via alternative means, treating it as an accountable "partnership." The court document further notes that the Arbitrum DAO has a Security Council governed by ARB holders, which has the authority to take action in emergencies. As a result, relevant members who refuse to comply may face legal consequences such as contempt of court. Market observers believe that this case could set an important precedent for the U.S. judicial system to directly constrain DAO governance structures, further highlighting the compliance pressure faced by DeFi protocols under real-world legal frameworks.
Purrlend: Security incident caused by compromise of admin multisig, resulting in ~$1.52M loss
Purrlend announced that it suffered a security incident on April 25 on HyperEVM and MegaETH, resulting in losses of approximately $1.52 million. The attacker compromised the team’s 2-of-3 multisig wallet and granted the malicious EOA permissions—including BRIDGE_ROLE—enabling the minting of unbacked pUSDm and pUSDC via the `mintUnbacked` function, which were then used as collateral to borrow assets from the lending pool. Purrlend stated it has suspended the protocol, revoked the compromised permissions, and is collaborating with security teams, law enforcement agencies, and cross-chain bridge partners to trace and attempt recovery of the stolen funds.
Lending protocol Purrlend suffered an attack, with losses of approximately $1.52 million
the lending protocol Purrlend was attacked on the MegaETH and HyperEVM networks, resulting in losses of approximately $1.52 million. The attacker extracted approximately $1.2 million in assets from the HyperEVM network, including 449,683 USDC, 214,125 USDT0, 194,745 USDH, and portions of UBTC, wstHYPE, UETH, kHYPE, and WHYPE. The attacker also extracted approximately $324,000 in assets from the MegaETH network, including USDT0, WETH, and USDm. Purrlend has since paused the protocol and launched an investigation. The attacker's address has been identified on the block explorers of both networks.
Decentralized futures exchange MNX completes $6.4 million funding round, with participation from Village Global and others
MNX, a decentralized futures exchange focused on the AI economy, has completed a $6.4 million funding round with participation from Village Global, Cambrian, Relay Digital, North Island Ventures, and others. MNX aims to build AI-native derivatives infrastructure, covering futures on GPU rental prices and data center electricity costs, valuation markets for private labs such as OpenAI, Anthropic, and DeepSeek, AI benchmarks and financial forecasting markets, as well as perpetual contracts for AI-related global equities. The platform supports leverage, portfolio margin, and batch auction for fair execution. Settlements are conducted in a fully non-custodial manner on MegaETH, with the mainnet scheduled to launch this summer.
MegaETH Ends Terminal Incentive Program and Merges with Rabbithole
MegaETH announced the early termination of the Terminal season and the shutdown of the Terminal project. According to the official announcement, Week 3 points have been distributed normally, and a snapshot of all current user activities has been completed for final reward calculations. The team plans to distribute additional points next week to thank users who participated across various applications. Eligible Terminal participants will receive USDM rewards based on their cumulative points and participation in Mega-related activities. Starting next week, Terminal will remain open for one week to allow users to submit their reward claim addresses. Thereafter, Terminal’s core functionalities will be merged into RabbitHole, unifying them into a single onchain experience.
Kelp to Discontinue rsETH Cross-Chain Support on 20 Networks
: Kelp posted on X platform, stating that to ensure the security standards of rsETH and optimize network integration, it will discontinue rsETH cross-chain support for multiple networks after June 15. The affected networks include Optimism, Manta, Mode, Blast, Scroll, X Layer, zkSync, Zircuit, Swellchain, Hemi, Berachain, Sonic, HyperEVM, Unichain, TAC, Avalanche, Plasma Stable, MegaETH, Monad, and Movement.Kelp reminds users holding rsETH on the aforementioned chains to bridge it back to the Ethereum mainnet before June 15. After the deadline, asset recovery can still be requested, but a fee of 100 USDC will be charged per address. Specific procedures will be announced closer to the deadline.
ZachXBT: US Law Firms' "Free-Riding Claims" May Hinder Recovery and Compensation of Funds for Hacking Victims
Odaily Odaily PaperImperium, the head of MegaETH, disclosed on X platform that documents from the U.S. District Court for the Southern District of New York show that a U.S. court has issued an injunction against the Arbitrum DAO, prohibiting it from transferring approximately $71 million in ETH assets that were previously frozen during the KelpDAO hacking incident. In response, on-chain detective ZachXBT posted on X platform, stating that certain U.S. law firms are using his investigative work and on-chain forensics to help victims of some hacking incidents file legal claims. However, this practice may actually slow down or hinder victims from receiving compensation or recovering funds.ZachXBT added that in previous hacking incidents involving the Lazarus Group, such law firms often stepped in after on-chain fund tracking or freezing was completed, proposing subsequent legal actions that were weakly related to the crypto incidents themselves. Similar "free-riding claims" strategies were used in events like Harmony and Bybit. He called on the crypto community to establish a DAO to resist such practices.
New York court orders Arbitrum DAO to freeze $71 million in ETH, potentially for compensation to victims of North Korea-related cases
: MegaETH lead PaperImperium disclosed on X platform a court document from the U.S. District Court for the Southern District of New York, showing that a U.S. court has issued an injunction against the Arbitrum DAO, prohibiting it from transferring approximately $71 million worth of ETH assets that were previously frozen in the KelpDAO hacking incident. The plaintiffs are attempting to use these funds to enforce outstanding judgment compensation in cases related to North Korea's involvement in terrorism, kidnapping, and other matters spanning several years. They have also filed a motion to serve legal notice to the Arbitrum DAO via alternative means, treating it as an accountable "partnership." The court document further notes that the Arbitrum DAO has a Security Council governed by ARB holders, which has the authority to take action in emergencies. As a result, relevant members who refuse to comply may face legal consequences such as contempt of court. Market observers believe that this case could set an important precedent for the U.S. judicial system to directly constrain DAO governance structures, further highlighting the compliance pressure faced by DeFi protocols under real-world legal frameworks.
Purrlend: Security incident caused by compromise of admin multisig, resulting in ~$1.52M loss
Purrlend announced that it suffered a security incident on April 25 on HyperEVM and MegaETH, resulting in losses of approximately $1.52 million. The attacker compromised the team’s 2-of-3 multisig wallet and granted the malicious EOA permissions—including BRIDGE_ROLE—enabling the minting of unbacked pUSDm and pUSDC via the `mintUnbacked` function, which were then used as collateral to borrow assets from the lending pool. Purrlend stated it has suspended the protocol, revoked the compromised permissions, and is collaborating with security teams, law enforcement agencies, and cross-chain bridge partners to trace and attempt recovery of the stolen funds.
Related news
Decentralized futures exchange MNX completes $6.4 million funding round, with participation from Village Global and others
MNX, a decentralized futures exchange focused on the AI economy, has completed a $6.4 million funding round with participation from Village Global, Cambrian, Relay Digital, North Island Ventures, and others. MNX aims to build AI-native derivatives infrastructure, covering futures on GPU rental prices and data center electricity costs, valuation markets for private labs such as OpenAI, Anthropic, and DeepSeek, AI benchmarks and financial forecasting markets, as well as perpetual contracts for AI-related global equities. The platform supports leverage, portfolio margin, and batch auction for fair execution. Settlements are conducted in a fully non-custodial manner on MegaETH, with the mainnet scheduled to launch this summer.
MegaETH Ends Terminal Incentive Program and Merges with Rabbithole
MegaETH announced the early termination of the Terminal season and the shutdown of the Terminal project. According to the official announcement, Week 3 points have been distributed normally, and a snapshot of all current user activities has been completed for final reward calculations. The team plans to distribute additional points next week to thank users who participated across various applications. Eligible Terminal participants will receive USDM rewards based on their cumulative points and participation in Mega-related activities. Starting next week, Terminal will remain open for one week to allow users to submit their reward claim addresses. Thereafter, Terminal’s core functionalities will be merged into RabbitHole, unifying them into a single onchain experience.
Kelp to Discontinue rsETH Cross-Chain Support on 20 Networks
: Kelp posted on X platform, stating that to ensure the security standards of rsETH and optimize network integration, it will discontinue rsETH cross-chain support for multiple networks after June 15. The affected networks include Optimism, Manta, Mode, Blast, Scroll, X Layer, zkSync, Zircuit, Swellchain, Hemi, Berachain, Sonic, HyperEVM, Unichain, TAC, Avalanche, Plasma Stable, MegaETH, Monad, and Movement.Kelp reminds users holding rsETH on the aforementioned chains to bridge it back to the Ethereum mainnet before June 15. After the deadline, asset recovery can still be requested, but a fee of 100 USDC will be charged per address. Specific procedures will be announced closer to the deadline.
MegaETH Foundation Completes First MEGA Buyback Using Net Earnings from USDm Issuer as of End of April
According to an official announcement, the MegaETH Foundation completed its first MEGA buyback on May 7, using all net proceeds accumulated by the USDm issuer through the end of April. The current USDm supply stands at $480 million. MegaETH stated that future buybacks are planned to be conducted programmatically and on-chain.
MegaETH Foundation Initiates MEGA Token Buyback, First Tranche Funded by All Net Revenue from USDm
the MegaETH Foundation has officially launched the MEGA token buyback program, with the first repurchase of MEGA completed on May 7. The funds used for this initial buyback came from the total net revenue generated by the USDm issuer as of the end of April. Officials emphasized that USDm is neither issued nor operated by the MegaETH Foundation or MegaLabs. The current supply of USDm stands at approximately $480 million. Future MEGA buybacks will be executed through a programmatic mechanism as much as possible, operating automatically based on preset rules rather than being timed discretionarily by the foundation. The amount of funds available for repurchase in each subsequent period will not be fixed and will be influenced by the supply of USDm and changes in the yield of its underlying reserve assets.
ZachXBT: US Law Firms' "Free-Riding Claims" May Hinder Recovery and Compensation of Funds for Hacking Victims
Odaily Odaily PaperImperium, the head of MegaETH, disclosed on X platform that documents from the U.S. District Court for the Southern District of New York show that a U.S. court has issued an injunction against the Arbitrum DAO, prohibiting it from transferring approximately $71 million in ETH assets that were previously frozen during the KelpDAO hacking incident. In response, on-chain detective ZachXBT posted on X platform, stating that certain U.S. law firms are using his investigative work and on-chain forensics to help victims of some hacking incidents file legal claims. However, this practice may actually slow down or hinder victims from receiving compensation or recovering funds.ZachXBT added that in previous hacking incidents involving the Lazarus Group, such law firms often stepped in after on-chain fund tracking or freezing was completed, proposing subsequent legal actions that were weakly related to the crypto incidents themselves. Similar "free-riding claims" strategies were used in events like Harmony and Bybit. He called on the crypto community to establish a DAO to resist such practices.