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Project Overview
Sonic is a layer-1 platform with a secure gateway to Ethereum and provides the fastest settlement layer for digital assets with over 10,000 TPS and has a one-second confirmation time for transactions.
Curve Finance Suspends LayerZero Cross-Chain Bridging Functionality in Response to rsETH Infrastructure Hack
According to an official announcement from Curve Finance, due to a hacker attack on the rsETH LayerZero infrastructure, Curve Finance has suspended its LayerZero infrastructure for security reasons, pending further investigation into the root cause before resuming operations. This suspension affects the following: cross-chain bridging of CRV tokens from BNB Chain, Sonic, Avalanche, Fantom, Etherlink, and Kava (chains using native bridges remain unaffected), as well as the crvUSD fast bridge functionality (the L2 slow bridge remains fully operational). Meanwhile, KelpDAO is also reported to have suffered a vulnerability exploit involving approximately $291 million; the exact extent of losses is still under investigation.
Andre Cronje: Aave Has No Mechanism to Subsidize User Losses, ETH Withdrawn to Fund Management Wrapper Contract
Odaily News: Sonic Labs co-founder and Flying Tulip founder Andre Cronje posted on platform X, stating that his team is continuing to investigate the L0/rsETH incident. Preliminary reports indicate that approximately $200 million worth of rsETH was stolen, possibly due to a private key leak or configuration error. The related assets were subsequently deposited into Aave as collateral to borrow ETH (due to insufficient rsETH liquidity).Andre Cronje pointed out that the affected positions are technically still overcollateralized. However, if bad debt occurs, Aave's token mechanism and Safety Module will serve as the first line of defense to absorb the risk. Nevertheless, Aave has no mechanism to subsidize user losses, as doing so could trigger a bank run. Currently, Aave holds approximately $7 billion in ETH with an outstanding borrowing amount of around $100 million, so the overall impact of this incident is limited. Furthermore, prioritizing user liquidity, Flying Tulip has withdrawn all its ETH from Aave to its fund management wrapper contract. This action was taken because Aave's available liquidity had fallen below its set minimum threshold.
Curve Finance Suspends LayerZero Cross-Chain Bridging Functionality in Response to rsETH Infrastructure Hack
According to an official announcement from Curve Finance, due to a hacker attack on the rsETH LayerZero infrastructure, Curve Finance has suspended its LayerZero infrastructure for security reasons, pending further investigation into the root cause before resuming operations. This suspension affects the following: cross-chain bridging of CRV tokens from BNB Chain, Sonic, Avalanche, Fantom, Etherlink, and Kava (chains using native bridges remain unaffected), as well as the crvUSD fast bridge functionality (the L2 slow bridge remains fully operational). Meanwhile, KelpDAO is also reported to have suffered a vulnerability exploit involving approximately $291 million; the exact extent of losses is still under investigation.
Curve Finance Suspends LayerZero Infrastructure
According to an official announcement, Curve Finance has suspended its LayerZero infrastructure as a precautionary measure following a hacker attack on rsETH’s LayerZero infrastructure, pending further investigation into the root cause. This adjustment affects cross-chain CRV bridging initiated from chains including BNB, Sonic, Avalanche, Fantom, Etherlink, and Kava; bridging from other chains remains unaffected and continues to use native bridges. Additionally, the crvUSD fast bridge is impacted, while the slower bridge to L2s remains fully operational.
Andre Cronje: Aave Has No Mechanism to Subsidize User Losses, ETH Withdrawn to Fund Management Wrapper Contract
Odaily News: Sonic Labs co-founder and Flying Tulip founder Andre Cronje posted on platform X, stating that his team is continuing to investigate the L0/rsETH incident. Preliminary reports indicate that approximately $200 million worth of rsETH was stolen, possibly due to a private key leak or configuration error. The related assets were subsequently deposited into Aave as collateral to borrow ETH (due to insufficient rsETH liquidity).Andre Cronje pointed out that the affected positions are technically still overcollateralized. However, if bad debt occurs, Aave's token mechanism and Safety Module will serve as the first line of defense to absorb the risk. Nevertheless, Aave has no mechanism to subsidize user losses, as doing so could trigger a bank run. Currently, Aave holds approximately $7 billion in ETH with an outstanding borrowing amount of around $100 million, so the overall impact of this incident is limited. Furthermore, prioritizing user liquidity, Flying Tulip has withdrawn all its ETH from Aave to its fund management wrapper contract. This action was taken because Aave's available liquidity had fallen below its set minimum threshold.
Sonic Unveils Quantum-Resistant Roadmap: Upgradable by Simply Replacing Signature Algorithms
Odaily News: Sonic detailed its technical path for the "post-quantum era," pointing out that most current PoS public chains rely on elliptic curve signatures (such as ECDSA, Ed25519), which face the risk of being cracked once quantum computing (e.g., Shor's algorithm) matures.Sonic stated that the industry is exploring quantum-resistant cryptographic solutions (such as hash-based XMSS, SPHINCS+, and lattice-based Dilithium, Falcon). However, mainstream consensus mechanisms generally rely on BLS aggregate signatures and threshold signatures, and migrating to a quantum-resistant system will face challenges in performance, bandwidth, and architectural restructuring.In contrast, Sonic's SonicCS consensus protocol does not rely on aggregate signatures or global randomness. It uses single-node signatures and hash functions to construct a DAG structure. Therefore, when switching to quantum-resistant cryptography, only the signature algorithm needs to be replaced to complete the upgrade, without adjusting the consensus logic or network structure.Sonic emphasized that this design will significantly reduce the complexity of future migration to quantum-resistant security, giving the network stronger adaptability when quantum computing threats emerge.
Andre Cronje: Aave Has No Mechanism to Subsidize User Losses, ETH Withdrawn to Fund Management Wrapper Contract
Odaily News: Sonic Labs co-founder and Flying Tulip founder Andre Cronje posted on platform X, stating that his team is continuing to investigate the L0/rsETH incident. Preliminary reports indicate that approximately $200 million worth of rsETH was stolen, possibly due to a private key leak or configuration error. The related assets were subsequently deposited into Aave as collateral to borrow ETH (due to insufficient rsETH liquidity).Andre Cronje pointed out that the affected positions are technically still overcollateralized. However, if bad debt occurs, Aave's token mechanism and Safety Module will serve as the first line of defense to absorb the risk. Nevertheless, Aave has no mechanism to subsidize user losses, as doing so could trigger a bank run. Currently, Aave holds approximately $7 billion in ETH with an outstanding borrowing amount of around $100 million, so the overall impact of this incident is limited. Furthermore, prioritizing user liquidity, Flying Tulip has withdrawn all its ETH from Aave to its fund management wrapper contract. This action was taken because Aave's available liquidity had fallen below its set minimum threshold.
Related news
Manic Collaborates with Sonic SVM to Launch SMART Benchmark—the First Standardized Evaluation Benchmark for AI Trading Agents
AI prediction trading platform Manic has announced the launch of the SMART Benchmark in collaboration with Sonic SVM—the first standardized scoring system for AI trading agents based on trading decisions. It enables quantitative comparison of trading decision differences across various agents and tests the real-world impact of integrating different Skills on agent decision quality. The scoring system covers five dimensions: real-time data, multi-source intelligence, market analysis, trading decisions, and risk control. Currently, the SMART Benchmark has integrated multiple agent and Skill ecosystem partners, including OKX Wallet, Bitget Wallet, Byreal, Donut, Surf, Moss, GoPlus, Blockbeats, and PA News.
Sonic Unveils Quantum-Resistant Roadmap: Upgradable by Simply Replacing Signature Algorithms
Odaily News: Sonic detailed its technical path for the "post-quantum era," pointing out that most current PoS public chains rely on elliptic curve signatures (such as ECDSA, Ed25519), which face the risk of being cracked once quantum computing (e.g., Shor's algorithm) matures.Sonic stated that the industry is exploring quantum-resistant cryptographic solutions (such as hash-based XMSS, SPHINCS+, and lattice-based Dilithium, Falcon). However, mainstream consensus mechanisms generally rely on BLS aggregate signatures and threshold signatures, and migrating to a quantum-resistant system will face challenges in performance, bandwidth, and architectural restructuring.In contrast, Sonic's SonicCS consensus protocol does not rely on aggregate signatures or global randomness. It uses single-node signatures and hash functions to construct a DAG structure. Therefore, when switching to quantum-resistant cryptography, only the signature algorithm needs to be replaced to complete the upgrade, without adjusting the consensus logic or network structure.Sonic emphasized that this design will significantly reduce the complexity of future migration to quantum-resistant security, giving the network stronger adaptability when quantum computing threats emerge.
Curve Finance Suspends LayerZero Cross-Chain Bridging Functionality in Response to rsETH Infrastructure Hack
According to an official announcement from Curve Finance, due to a hacker attack on the rsETH LayerZero infrastructure, Curve Finance has suspended its LayerZero infrastructure for security reasons, pending further investigation into the root cause before resuming operations. This suspension affects the following: cross-chain bridging of CRV tokens from BNB Chain, Sonic, Avalanche, Fantom, Etherlink, and Kava (chains using native bridges remain unaffected), as well as the crvUSD fast bridge functionality (the L2 slow bridge remains fully operational). Meanwhile, KelpDAO is also reported to have suffered a vulnerability exploit involving approximately $291 million; the exact extent of losses is still under investigation.
Curve Finance Suspends LayerZero Infrastructure
According to an official announcement, Curve Finance has suspended its LayerZero infrastructure as a precautionary measure following a hacker attack on rsETH’s LayerZero infrastructure, pending further investigation into the root cause. This adjustment affects cross-chain CRV bridging initiated from chains including BNB, Sonic, Avalanche, Fantom, Etherlink, and Kava; bridging from other chains remains unaffected and continues to use native bridges. Additionally, the crvUSD fast bridge is impacted, while the slower bridge to L2s remains fully operational.
Andre Cronje: Aave Has No Mechanism to Subsidize User Losses, ETH Withdrawn to Fund Management Wrapper Contract
Odaily News: Sonic Labs co-founder and Flying Tulip founder Andre Cronje posted on platform X, stating that his team is continuing to investigate the L0/rsETH incident. Preliminary reports indicate that approximately $200 million worth of rsETH was stolen, possibly due to a private key leak or configuration error. The related assets were subsequently deposited into Aave as collateral to borrow ETH (due to insufficient rsETH liquidity).Andre Cronje pointed out that the affected positions are technically still overcollateralized. However, if bad debt occurs, Aave's token mechanism and Safety Module will serve as the first line of defense to absorb the risk. Nevertheless, Aave has no mechanism to subsidize user losses, as doing so could trigger a bank run. Currently, Aave holds approximately $7 billion in ETH with an outstanding borrowing amount of around $100 million, so the overall impact of this incident is limited. Furthermore, prioritizing user liquidity, Flying Tulip has withdrawn all its ETH from Aave to its fund management wrapper contract. This action was taken because Aave's available liquidity had fallen below its set minimum threshold.