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TOP Network is a decentralized blockchain ecosystem composed of a public blockchain, DApps, and decentralized communication.
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$TOP Token Suffers Governance Attack, Sustaining ~$1.59M in Losses
According to BlockSec Phalcon (@Phalcon_xyz), the $TOP token suffered a governance attack, resulting in losses of approximately $1.59 million. The attacker exploited the token’s low market capitalization to acquire over 50% of voting power at minimal cost. Subsequently, they passed a malicious governance proposal to mint a large quantity of $TOP tokens for themselves, then swapped these tokens for WETH via the Balancer liquidity pool—depleting the pool’s liquidity. BlockSec Phalcon advises projects using governance mechanisms similar to those of Lido or Aragon to promptly review governance security measures, including voting power distribution, quorum and approval thresholds, and minting permissions.
Jiang Zhuo’er: Strategy will not sell a large amount of tokens; it only implements a “rolling strategy.”
Jiang Zhuo’er, founder of the Litecoin mining pool B.TOP, posted his views on Strategy’s Bitcoin sales. He believes Strategy will not sell large amounts of Bitcoin—only small amounts to pay interest. Jiang argues that Strategy raises funds by issuing new STRC tokens to purchase additional BTC, while simultaneously selling a tiny amount of its early-acquired, low-cost BTC to generate accounting profits for paying STRC interest. This reflects its “rolling strategy.” However, if Strategy sold absolutely no BTC, investors might suspect it was using new funds to pay old interest. Small-scale sales generate genuine profits and help maintain Strategy’s image of “never selling Bitcoin,” thereby facilitating continued fundraising.
Today’s Top 1 Liquidation on-Chain: A Whale’s BTC Long Position Liquidated Again; $30.46M Liquidated in Past Three Days
According to Hyperinsight monitoring, early this morning, the short position address on Hyperliquid—dubbed the “$13M Whale”—suffered yet another liquidation after two consecutive forced liquidations, bringing its total liquidated amount to 96.39 BTC (valued at approximately $7.3 million). This whale has been the largest liquidation address on Hyperliquid for three consecutive days, with a cumulative liquidation value of $30.46 million. Details are as follows:
Bitget Launches Season 3 of the CFD King Battle, with a Total Prize Pool of 80,000 USDT
Bitget has launched Season 3 of the CFD King Battle, featuring a total prize pool of 80,000 USDT. This event includes three main sections: a Blind Box Zone, a Points Arena, and a Ranking Arena. During the event, both new and existing users can earn blind box rewards by completing designated CFD trading tasks daily, and have the chance to draw USDT cash vouchers. The prize pool has a 100% winning rate and operates on a "first come, first served" basis.Furthermore, users who trade specific currency pairs can participate in the Points Arena and Ranking Arena, with top individual prizes reaching up to 3,000 USDT. After the event concludes, the top 100 users by trading volume will also receive a random amount of CFD credit bonus package. The event runs from April 27 to May 22. For more details, please refer to the official Bitget platform.