Ethereum Layer 2 Arbitrum said that its Security Coucil has taken emergency action to freeze approximately 30,766 ETH, worth over $71 million, tied to this weekend’s KelpDAO exploit.

Arbitrum announced on X late Monday night that it acted with input from law enforcement, which had provided information about the exploiter’s identity. After what it described as significant technical diligence, the L2 said it executed an approach that moved funds without affecting any other chain state or Arbitrum users.

As of April 20 at 11:26pm ET, the funds were successfully transferred to an intermediary frozen wallet, where they can only be moved by further action from Arbitrum governance, per Arbitrum’s X post.

On-chain investigator ZachXBT reported this morning that since the Arbitrum freeze, the attackers had moved $1.5 million from Ethereum mainnet to Bitcoin via decentralized swap protocol Thorchain, as well as another $78,000 routed through Umbra.

The intervention follows what appears to be DeFi’s worst exploit this year so far. The original exploit, which struck KelpDAO’s LayerZero-powered bridge on April 18, saw an attacker mint approximately $293 million worth of unbacked rsETH and drain over $200 million in real WETH from Aave before markets could freeze — leaving the lending protocol with hundreds of millions in bad debt.

LayerZero said in a postmortem published yesterday, April 20, that the attack is likely attributable to North Korean state-sponsored hacker group Lazurus Group.

DeFi Community Response

The Arbitrum Security Council’s move marks a rare use of emergency governance powers to directly intervene in fund recovery from a public chain, with coordination from law enforcement signaling this incident has drawn regulatory attention.

YCC founder Duo Nine called the move “Good move for the users affected, bad new for decentralization,” adding:

“This sets a precedent where with good justification any assets on Arbitrum can be taken from your wallet.”

On-chain security expert Taylor Monahan had a different take, characterizing Arbitrum freezing funds as DeFi collectively “rugg[ing] DPRK of $70M.” Monahan continued:

“I want to say thank you to EVERYONE who played a role. Including those who pushed back […] DeFi fucking wins.”

White hat hacker and founder of blockchain security organization Security Alliance samczsun also had a positive take on the move, posting this morning “huge day for victims of the kelp dao hack,” and continuing:

“i hope that we can look back on today as the day our industry realized that we can simultaneously build useful products while also protecting users rather than be a consequence-free infinite money glitch for hackers.”

This article was written with the assistance of AI workflows. All our stories are curated, edited and fact-checked by a human.

A fake courier tried to steal a French crypto worker’s private keys at gunpoint, but was disarmed in a struggle, underscoring France’s surge in “wrench” attacks.

In the early morning hours of April 11, a French crypto worker and his family narrowly escaped an armed home invasion after a man posing as a delivery driver tried to force him to hand over private keys at gunpoint, in the latest example of so‑called “$5 wrench attacks” targeting digital asset holders. The incident, detailed in local reports from the Montpellier region and since echoed in national coverage of crypto crime, saw the attacker enter the family home, corral the victim, his wife, and their children into the living room, and demand wallet access while brandishing a handgun.

Fake delivery, real gun

When the victim’s answers apparently confused the intruder, the assailant stopped to call an accomplice, creating a brief opening that allowed the 40‑year‑old crypto worker to wrestle for control of the weapon. Neighbours called police as the struggle spilled out of the house, and after a three‑day manhunt, officers arrested a 25‑year‑old suspect from Hérault, who has since been charged by a Montpellier court with attempted armed robbery and remanded in custody.

The attack fits a broader pattern. France’s interior ministry and local media have tracked a sharp rise in physical robberies and kidnappings linked to cryptocurrency, with authorities estimating at least 41 crypto‑related kidnappings so far in 2026 alone — roughly one every 2.5 days, up from about 20 such cases between 2023 and 2025. A recent intelligence brief noted that 10 out of 20 global kidnapping‑for‑crypto cases recorded by mid‑2025 had occurred in France, attributing the concentration partly to Paris’ push to become a global crypto hub and host frequent high‑profile industry events.

High‑visibility figures have also been hit. In February, masked gunmen attempted a home invasion targeting Binance France president David Prinçay in Val‑de‑Marne, fleeing only after realising he was not home, while other gangs have kidnapped relatives of crypto executives on Paris streets and in satellite towns around the capital. In March, a couple near Versailles were forced at knifepoint to transfer roughly $1 million worth of Bitcoin to attackers impersonating police, underscoring how criminals now routinely exploit both social engineering and brute force to reach seed phrases and hardware devices.

French officials have begun promising “preventative measures” for crypto professionals and wealthier retail holders, including specialised police units, awareness campaigns, and enhanced security at conferences such as Paris Blockchain Week, where VIPs have recently been escorted by police motorcades. For rank‑and‑file crypto workers, though, the latest handgun incident in Montpellier is a blunt reminder that operational security now extends well beyond cold storage opsec and into basic personal safety — from home access controls and delivery protocols to how loudly they talk about their holdings in public.

• Custodian change: Anchorage Digital Bank replaces Coinbase as custodian in Grayscale’s amended HYPE ETF S-1, filed April 20, 2026.
• Anchorage’s regulatory status: First federally chartered crypto bank in the U.S., carrying OCC-granted qualified custodian designation – a distinction Coinbase does not hold.
• Coinbase’s dominance context: Coinbase Custody Trust Company serves as primary custodian for nearly every U.S. spot bitcoin ETF; its absence here is structurally notable.
• Anchorage’s recent valuation: Tether’s $100 million strategic equity investment in February 2026 valued the firm at $4.2 billion, up from $3 billion in its 2021 Series D.
• Open approval question: Staking optionality in the HYPE ETF remains subject to separate regulatory approval; the fund would trade on Nasdaq under ticker GHYP if cleared.

DoorDash is working with Stripe- and Paradigm-backed Tempo to explore paying delivery workers in stablecoins, as Visa, banks and fintechs plug into Tempo’s rails.

DoorDash is teaming up with blockchain project Tempo to explore paying its delivery couriers in stablecoins, in one of the clearest signs yet that on-chain dollars are creeping into mainstream U.S. gig work. Fortune reports that the collaboration is part of Tempo’s new “stablecoin consulting” service, which promises to help enterprises identify concrete use cases and then dispatch engineers to embed stablecoin rails into their existing products.

DoorDash pilots stablecoin paychecks

Tempo, incubated by payments giant Stripe and crypto venture firm Paradigm, is building a dedicated layer‑1 blockchain optimized for high-speed, low-cost stablecoin payments rather than trading, and raised around $500 million at a $5 billion valuation in 2025. The company pitches itself as “a payments-first blockchain” that can handle real-world payroll, remittances, and machine-to-machine payments at scale, with fees paid directly in dollar-pegged stablecoins instead of a volatile native token.

According to a note shared with Fortune, Tempo’s new advisory unit will consist of a small dedicated team that leans on the broader organization’s engineering bench to help clients scope stablecoin scenarios, design treasury flows, and integrate with core banking and payment systems. Coastal Community Bank and financial services platform ARQ are already building stablecoin infrastructure on top of Tempo, while Visa, OnePay, Felix, Fifth Third Bank, and Howard Hughes Holdings are wiring parts of their payment operations into the network.

Stripe, which has published its own guidance on how businesses can use stablecoins for global payouts, sees Tempo as the natural extension of its card and bank rails into 24/7 on‑chain settlement, particularly for cross‑border platforms, AI agents, and high-frequency micropayments. Paradigm, meanwhile, has framed Tempo as the missing piece in a crypto “stack” that has historically been tuned for speculative trading rather than predictable, regulated consumer payments.

If the DoorDash pilot and early bank integrations succeed, the Tempo model could give large platforms a template for shifting at least part of their payroll, supplier settlements, and embedded finance products onto stablecoin rails—without forcing users to grapple with typical crypto UX or custody headaches. For gig workers and merchants, that could eventually translate into faster, programmable payouts; for regulators, it will intensify debates over how to oversee stablecoin-based wages and deposits as they move from crypto niches into mainstream labour markets.

Key Takeaways

• PayPal (PYPL) guided for stagnant adjusted earnings in 2026, triggering a selloff, though turnaround opportunities persist
• CVS Health (CVS) delivered $402.1 billion in 2025 revenue and projects at minimum $400 billion for 2026
• Nike (NKE) generated $11.3 billion in third-quarter 2026 sales, with wholesale advancing 5% and North American operations improving
• HP (HPQ) announced first-quarter 2026 revenue of $14.4 billion, representing 6.9% annual growth, with projected free cash flow between $2.8 billion and $3.0 billion
• Estée Lauder (EL) saw shares decline following underwhelming fiscal 2026 outlook despite surpassing earnings projections

Investors searching for value opportunities in 2026 are closely monitoring five companies: PayPal, CVS Health, Nike, HP, and Estée Lauder.

These aren’t merely discounted equities. Each demonstrates a distinctive pattern: reserved market sentiment combined with tangible business drivers that could reshape their valuation narratives.

Companies Navigating Turnarounds

PayPal (PYPL)

PayPal represents perhaps the most transparent case of subdued expectations colliding with potential rebound momentum. According to Reuters reporting from February, the payment processor projected essentially flat or marginally declining adjusted earnings for 2026, falling short of analyst projections.

PayPal Holdings, Inc., PYPL

Shares tumbled significantly following executive transitions that sparked concerns about strategic implementation. However, should leadership successfully accelerate branded checkout adoption and enhance Venmo revenue generation, the equity might begin commanding valuations more aligned with a revitalizing fintech enterprise.

CVS Health (CVS)

CVS Health continues appearing underpriced when measured against its operational scale. The healthcare giant posted 2025 full-year sales totaling $402.1 billion. Leadership projected 2026 adjusted earnings per share ranging from $7.00 to $7.20, supported by revenues exceeding $400 billion.

CVS Health Corporation, CVS

The shares don’t require comprehensive recovery to appreciate. Sufficient margin expansion within its insurance and pharmacy segments could prompt investors to reassess it as a resilient cash-generating operation.

Nike (NKE)

Nike remains perceived by markets as a complicated turnaround situation with multiple challenges. The athletic apparel leader’s fiscal third-quarter 2026 results, disclosed March 31, showed $11.3 billion in revenue with wholesale channels climbing 5%. North American operations also posted gains.

NIKE, Inc., NKE

Gross profitability contracted, and certain business segments face ongoing headwinds. Nevertheless, selective areas are trending positively, which frequently signals the beginning of value-oriented opportunities.

Cash Generation and Rehabilitation Opportunities

HP (HPQ)

HP disclosed fiscal first-quarter 2026 sales of $14.4 billion, marking 6.9% year-over-year expansion. Non-GAAP diluted earnings per share increased 9.5%, while free cash flow registered $175 million. The technology company reaffirmed its annual free cash flow projection of $2.8 billion to $3.0 billion.

The optimistic scenario depends on stabilizing PC market conditions and accelerating traction in AI-enabled computers. HP doesn’t require explosive revenue acceleration to advance—merely sustained earnings stability.

Estée Lauder (EL)

Estée Lauder presents the greatest risk among these selections. Reuters indicated in February that shares retreated after fiscal 2026 guidance underwhelmed investors, despite earnings surpassing forecasts.

Executives outlined turnaround initiatives centered on product introductions, marketing investments, and premium brand positioning. Markets remain concerned about softening U.S. consumer demand, tariff pressures, and execution uncertainties.

Based on recent guidance, Estée Louder has yet to demonstrate sustained revenue momentum or profitability improvement.

Concluding Analysis

These five equities share a unifying characteristic. Market sentiment remains guarded, yet each possesses legitimate catalysts capable of transforming their 2026 valuations.

South Korea’s National Tax Service (NTS) has opened a tender for software licenses to track virtual asset transactions as part of tax evasion enforcement, according to a government procurement notice.

The notice said the contract is for “virtual asset tax evasion response transaction-tracking software licenses,” with a budget of 146.5 million won (around $99,500), including value-added tax and delivery due within 30 days of contract signing. Bid submissions are scheduled for April 28 to April 30, with proposal evaluation set for May 7.

The procurement notice itself gives limited detail on the software’s technical scope. However, citing an official from the NTS scientific investigation unit, local outlet ZDNet Korea reported that the software would allow officials to monitor crypto transactions in real time, visualize transfers between specific wallet addresses and exchanges, and support probes into hidden assets, offshore tax evasion and unreported inheritance or gift transfers.

The tender follows earlier local reporting that South Korea was preparing a broader AI-based crypto monitoring system ahead of the country’s planned 2027 tax rollout.

South Korea expands enforcement capabilities ahead of crypto tax rollout

The tax agency’s push for a crypto monitoring tool appears to be part of a broader effort to expand enforcement capabilities as the country prepares for an upcoming rollout of a crypto tax. 

On March 12, local media The Korea Times reported that the NTS opened a bid for an AI-backed system to analyze crypto transaction data. The agency reportedly aims to establish a platform that can process large volumes of crypto trading data to monitor potential tax evasion.

Related: Bank of Korea governor backs CBDCs, deposit tokens in first address

South Korea’s crypto tax rollout is currently expected to take effect in January 2027 after several delays. Under the policy, gains above 2.5 million won (about $1,700) would be subject to a combined 22% levy, made up of a 20% income tax and an additional 2% local tax.

The tax rollout remains politically contested. On March 19, South Korea’s main opposition People Power Party proposed scrapping the planned tax on crypto gains, arguing the policy raises fairness, double-taxation and enforcement concerns.

Magazine: 53 DeFi projects infiltrated, 50M NEO tokens could be ‘given back’: Asia Express