🔐 Nomic bug left Alloyed BTC 36% undercollateralized for 74 days
A software flaw in Nomic quietly erased a third of the backing behind Alloyed BTC, a wrapped Bitcoin asset on the Osmosis DEX — and went undetected for 74 days.
According to Osmosis, the bug caused a 36% shortfall in the fund's collateral without triggering any alerts or visible on-chain anomalies during that period. The issue has since been identified and disclosed by the Osmosis team.
The incident highlights ongoing risks in DeFi infrastructure, particularly around wrapped asset protocols where collateral integrity is critical but not always continuously monitored.
⚖️ DOJ and OFAC shut down $24B crypto black market
U.S. authorities have dismantled a major crypto money laundering network, seizing Telegram channels and two wallets tied to a $24 billion black market operation.
The Department of Justice executed seizures while the Treasury's OFAC sanctioned Xinbi alongside developers behind SafeW and XinbiPay. The crackdown triggered a flight response among rival money laundering networks, which began abandoning their operations following the enforcement action.
The takedown highlights continued U.S. pressure on crypto-based illicit finance infrastructure, particularly networks operating through encrypted messaging platforms like Telegram.
⚖️ Armstrong: US crypto clarity coming with or without CLARITY Act
Coinbase CEO Brian Armstrong says the US crypto industry will gain regulatory clarity regardless of whether the CLARITY Act passes its key Senate vote on September 15.
Speaking to CNBC, Armstrong said Congress passing the bill remains the preferred path, noting it could unlock institutional capital. However, he added that action from the SEC and CFTC could serve as a fallback if the legislation stalls in the Senate.
The CLARITY Act is one of the most significant crypto market structure bills currently moving through Congress, with its September 15 Senate test widely watched as a milestone for US digital asset regulation.
🔐 Gang stole 4,100 Bitcoin, laundered $245M in crypto
Prosecutors allege a criminal group stole and laundered more than $245 million in cryptocurrency, with proceeds spent on private jets, exotic cars and club events.
The scheme involved the theft of approximately 4,100 Bitcoin, with the group using the funds to finance an extravagant lifestyle before authorities moved against them.
The case highlights the continued targeting of crypto holders by organized theft and laundering operations.
Hyperliquid's perpetuals open interest has climbed to $14.3 billion, coming within 3% of levels seen before the October 2025 market crash — signaling a near-full recovery in trading activity on the decentralized exchange.
Alongside the OI surge, HYPE — the platform's native token — reached a new all-time high of $88, reflecting renewed market confidence in the protocol.
⚖️ Gemini Secures Full Payment License in Singapore
Crypto exchange Gemini has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore, expanding its regulatory footprint in Southeast Asia.
The license authorizes Gemini's local entity to provide digital payment token services and cross-border money transfer services, without the standard transaction-volume limits that apply to smaller license tiers.
Singapore's MPI license is one of the most comprehensive crypto-related authorizations available under the city-state's Payment Services Act, and is held by a limited number of exchanges operating in the region.