A governance takeover on the X100 protocol allowed an attacker to drain $4.85 million in USDT from the project's treasury and liquidity positions on Ethereum.
The exploit was carried out across two transactions, converting treasury tokens and liquidity holdings into USDT. Security firm Blockaid flagged the attack as ongoing at the time of the alert.
Governance-based exploits remain a serious threat in DeFi — once an attacker gains control of on-chain governance, protocol funds can be moved without triggering standard security controls.
🌐 DTCC Launches Tokenization Service for Real-World Assets
The Depository Trust & Clearing Corporation (DTCC), which processes the majority of U.S. securities transactions, has unveiled a new tokenization service targeting real-world assets (RWA).
The service is designed to bring assets onto blockchain infrastructure, with the DTCC citing a potential scope of $30 trillion in assets. No further technical details or launch timeline were provided in the announcement.
The move signals growing institutional interest in on-chain asset infrastructure, as major financial market utilities begin exploring tokenization at scale.
🔐 Chinese National Extradited Over $36.9m Crypto Scam
A Chinese national has been extradited from the Netherlands to Los Angeles, facing charges linked to an alleged crypto investment fraud scheme operated out of Cambodia.
According to the U.S. Department of Justice, the scheme targeted 174 identified American victims and funneled over $36.9 million through a Bahamas-based bank account.
The case highlights the continued cross-border reach of law enforcement action against crypto fraud, with international extradition now a tangible consequence for suspects operating overseas.
⚖️ U.S. Senate advances stablecoin regulation with GENIUS Act
The New York Stock Exchange has acknowledged significant regulatory progress for payment stablecoins in the United States, citing the GENIUS Act as a defining development for the sector's legal framework.
The GENIUS Act is designed to establish clear rules governing the issuance and operation of payment stablecoins in the U.S. market. The NYSE's recognition signals growing institutional acknowledgment that stablecoin regulation is moving from debate to legislation.
Clear federal rules for stablecoins could reshape how issuers, exchanges and financial institutions operate within the U.S. crypto market.
⚖️ Blockchain Association Pushes Congress on Crypto Tax Reform
The Blockchain Association has sent a letter to the four party leaders in Congress, outlining 10 principles it wants lawmakers to adopt as part of a crypto tax framework.
Key requests include a de minimis exemption for small transactions, application of wash sale rules to crypto assets, and a rule that transfers between a holder's own wallets should not trigger a taxable event.
With an estimated 67 million crypto holders in the U.S., the outcome of these legislative efforts could significantly shape how everyday users report and manage their digital asset activity.
⚖️ ECB publishes working paper featuring Base in DeFi analysis
The European Central Bank has included Base, Coinbase's Layer 2 network, in a new working paper examining decentralized finance dynamics.
The paper represents a notable instance of a major central bank formally studying specific DeFi infrastructure, signaling growing institutional attention to on-chain activity and its potential implications for monetary policy.
No further details on the paper's findings or conclusions are available from the source.
🧩 Uniswap v4 Now Routes Trades Through External Liquidity
Uniswap Labs has launched Aggregator Hooks on Ethereum, Base and Robinhood Chain, enabling Uniswap v4 to route swaps through liquidity held on seven external platforms — without users needing to visit those venues separately.
The feature is accessible via Uniswap's web app and API. Trades routed through external sources still pay Uniswap protocol fees, which are directed toward UNI token burns. The hooks allow v4 to compare routes across outside platforms automatically, effectively turning the protocol into a cross-venue aggregator.
The move expands Uniswap's competitive reach in DeFi routing and introduces a new fee-capture mechanism tied to off-pool liquidity.