Crypto World
The Sandbox Offers 1:1 Refund After $700K Bridge Exploit
The Sandbox says it will directly reimburse eligible holders of bridged SAND after an Aug. 21 exploit that drained Ethereum-based tokens from a bridge vault. The incident, which targeted bridge infrastructure connected to Base and BNB Smart Chain, resulted in the loss of 14.744 SAND—valued at roughly $700,000 at the time—prompting the project to outline a structured repayment plan.
In a post-mortem shared Thursday, The Sandbox confirmed that compensation will be offered on a 1:1 basis for users who held bridged SAND on Base or BNB Smart Chain before the attack. The company says repayments will come from its treasury without minting new tokens, and that affected balances will be distributed through exchanges for a majority of eligible users.
Key takeaways
- The Sandbox will repay eligible holders of bridged SAND from Base and BNB Smart Chain at a 1:1 ratio using Ethereum-based SAND.
- The repayments are scheduled to begin within two weeks, with a claim window that extends for two additional weeks.
- More than 72% of eligible balances are held on centralized exchanges, which will reportedly distribute compensation directly to affected customers.
- According to The Sandbox, about 14.7 million SAND were drained—roughly 0.5% of the token’s 3 billion maximum supply—while the minted unbacked tokens were isolated.
- The compromised bridge contracts will be retired permanently, with future bridges expected to use newly deployed contracts.
Repayment plan for bridged SAND holders
The Sandbox’s reimbursement effort is aimed at users who held SAND that had been bridged onto Base or BNB Smart Chain prior to the Aug. 21 bridge exploit. The company states that claimants will receive an equal amount of Ethereum-based SAND (rather than a token of a different chain), using funds drawn from the project’s treasury. The project also emphasized that it will not mint new tokens to fund repayments.
Based on the company’s explanation, the claims process is expected to open within two weeks and then stay open for another two weeks. That gives eligible users a defined window to verify ownership and submit a claim where needed, while exchange customers may be handled automatically depending on the platform.
Where the losses came from, and what the attacker did
The Sandbox said the attacker exploited a configuration flaw in SAND’s bridge contracts on Base and BNB Chain. In the company’s account, the issue allowed the attacker to gain control over bridge message verification—ultimately enabling minting of unbacked tokens tied to the exploited bridge process.
The project confirmed that roughly 14.744 million SAND were drained from the Ethereum vault connected to the bridge. It also said that the compromised bridge activity led to the creation of more than 339 trillion unbacked SAND on the two targeted networks. However, The Sandbox added that those tokens have been isolated and cannot be bridged or redeemed.
Importantly for holders, The Sandbox stated that SAND on Ethereum and Polygon was not affected by the exploit. That means the core token supply on those networks did not face the same immediate impact as the bridged assets tied to Base and BNB Chain.
Isolation of unbacked tokens and retirement of compromised contracts
Beyond repayment, the company’s post-mortem focuses on containment and prevention. The Sandbox said that the bridge contracts used in the compromised configuration will be permanently retired. Any subsequent bridging between networks would be handled through newly deployed contracts intended to eliminate the exploited verification weakness.
The project’s description suggests that while the attacker succeeded in minting unbacked tokens during the bridge operation, The Sandbox designed—or was able to enforce—limits that prevented those tokens from moving into a redeemable or bridged state. For investors and traders, this distinction matters: it reduces the likelihood of a broader token supply shock across all supported networks, even if the event generated a large quantity of unbacked tokens during the attack.
Exchanges to distribute most compensation
The Sandbox also provided operational details about how compensation will reach users. According to the company, more than 72% of eligible balances are held on centralized exchanges. For those customers, the exchanges are expected to distribute compensation directly.
That approach may lower friction for most affected users by reducing the need for individual claims. Still, the project’s stated plan indicates that a claim process will exist—meaning users without exchange custody (or users not covered by exchange distributions) may need to apply during the opening window.
Token trading and market reaction
At the time of publication, SAND was trading around $0.04, according to CoinGecko, down about 10.4% over the previous seven days. The price drop reflects broader market conditions and how quickly bridge-security headlines can spill into sentiment, even when the project states that Ethereum and Polygon holdings were unaffected.
For market participants, The Sandbox’s commitment to 1:1 reimbursement and the claim timeline may help clarify risks for holders of bridged assets. However, the longer-term confidence impact will likely hinge on how smoothly the claims process runs, and whether monitoring of any remaining bridge-related surfaces finds no further issues.
Readers should watch the start of the claims window and follow how exchanges handle reimbursements for customers holding bridged SAND. Equally important will be The Sandbox’s progress deploying replacement bridge contracts and demonstrating that the retired configurations can’t be re-exploited through new bridge paths or integrations.
This Friday, we examine Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid in greater detail.
Ethereum (ETH)
Ethereum closed another week in the green after pushing above $2,400, ending 6% higher. If buyers manage to hold this key support level, higher highs may continue.
Bulls should do their best to consolidate their recent gains after the massive rally from the $1,500 level. To achieve this, defending $2,400 as support is key. The current resistance is at $2,800.
Looking ahead, this is the first time since 2025 that ETH has made a higher high. This halts the downtrend and positions this cryptocurrency for a sustained rally. The question is how far bulls can take it before they show signs of weakness.
Ripple (XRP)
After XRP pumped to $1.6, the price entered a pullback, which is still ongoing at the time of this post. Nevertheless, this cryptocurrency closed the week 9% higher. This recent performance is impressive and a significant change in the market structure.
With a higher high secured, XRP could be consolidating between the key support at $1.3 and the resistance at $1.6. Once the price settles, a renewed push higher could follow, sending XRP back into a rally.
Looking ahead, the most significant target, at this time, is $2. For that to happen, XRP will need to turn $1.6 into a support first. The odds favor this outcome considering that buyers have the advantage right now.
Cardano (ADA)
Cardano ended this week flat after the price failed to break the resistance at $0.23. Buyers tried to push ADA higher, but sellers would not budge. For this reason, the price is in a pullback at the time of this post.
While a consolidation period under the key resistance is normal, this cryptocurrency needs to avoid a long delay in breaking $0.23, as that may encourage sellers to step up their presence on the order book.
Looking ahead, Cardano needs to make a higher high to confirm the bottom under $0.15. So far, this has not happened, which may give bears a chance to retest the previous lows in the future.
Binance Coin (BNB)
Binance Coin had a good week, closing 7% higher. The price also broke the $690 resistance and appears close to forming a higher high. If confirmed next week, BNB may be well on its way to visit $900 next.
It is critical for the price to continue its rally, as any price below $740 would paint a lower high on the chart, which would be a bearish signal. Nevertheless, as long as the $690 level holds as support, buyers have control over the price.
Looking ahead, the recent drop under $580 could be the bottom. To confirm it, BNB needs to rally and sustain its recent gains. If so, the $900 and $1,000 targets will act as magnets for the price in the near future.
Hype (HYPE)
Hyperliquid had another fantastic week, closing 14% higher after setting a new record price of almost $87. Right now, HYPE is trading in a key range between $ 76 and $ 85 as it plans its next move.
To continue the rally, the price has to clear $85 as support and aim for $90 next. However, considering the strength of the recent move, a consolidation period would be welcomed to avoid a sharper correction later.
Looking ahead, HYPE has a real chance to hit a three-digit price in the near future if this bullish momentum is sustained. A price of $100 or higher is only a 20% rally from current levels.
The post Crypto Price Analysis August-28: ETH, XRP, ADA, BNB, and HYPE appeared first on CryptoPotato.
Dunamu, the parent entity of Upbit, has announced a strategic partnership with Visa. The partnership will explore stablecoin payments, AI-driven financial services, and international remittances.
Dunamu CEO Oh Kyung-seok and Visa Global President Oliver Jenkyn presented a roadmap for the partnership at Visa’s Global Market Support Center on August 26. However, they have not disclosed any product structure, launch date, blockchain, custody model, jurisdiction, or price details.
Dunamu and Visa Form Strategic Partnership
The partnership agreement was signed by Visa Worldwide Pte. Limited. Wu Blockchain elaborated on the partnership, saying the companies intend to combine Dunamu’s digital asset infrastructure with Visa’s global payments network. It will also explore stablecoin payments, global transfers, merchant settlements, AI-driven financial services, international remittances, and new user experiences.
“Dunamu, the operator of South Korea’s largest crypto exchange Upbit, has entered a strategic partnership with Visa to explore stablecoin payments, global remittances, and AI-driven financial services. The two sides are also considering business models based on the Open Standard dollar stablecoin OUSD. The specific service structure has not yet been determined.”
According to Dunamu and Visa, the partnership will consider applicable laws and regulatory requirements and develop services in a staggered manner. However, the announcement does not commit to a product launch or to offer stablecoin payments through Upbit. Dunamu added that the partnership will focus on regulatory compliance, transparency, interoperability, and stability. However, it did not elaborate on who would manage customer assets and compliance duties.
Meanwhile, Visa has expanded its stablecoin settlements and programmable payment work. It has also announced new infrastructure designed for AI-directed transactions, tokenized deposits, and stablecoins.
Will Open USD Be Part of the Arrangement
Dunamu and Visa also plan to evaluate business models involving the Open USD (OUSD). OUSD is a dollar-backed stablecoin developed using the Open Standard initiative. OUSD will support global payments and allows businesses to mint or redeem tokens without imposing any fee or volume limits. Open Standard lists Visa, Mastercard, BlackRock, Coinbase, and Dunamu among the organizations supporting the initiative.
However, Dunamu said in July that it did not agree to issue the OUSD stablecoin or participate in its launch and clarified it was still reviewing the proposal. The Visa partnership confirms that Dunamu will explore OUSD-based models. However, it does not clarify whether it will issue or operate the stablecoin.
Focus on Agentic Commerce
One of the partnership’s key focuses is payment infrastructure for agentic commerce. Agentic commerce is a digital shopping model in which AI models search, compare, select, and pay for products or services on behalf of users. Dunamu and Visa plan to explore the technology that supports the authorization, payment, and settlement for transactions completed by agentic commerce models. However, they have not disclosed how users will approve purchases, set spending limits, or dispute any transaction initiated and executed by AI agents.
AI purchases also raise several questions involving identity, consent, fraud, and liability. Additionally, stablecoin transactions are irreversible once completed on-chain. Visa has developed several tools to address these concerns, including AI agent verification and greater merchant control over automated transactions.
South Korean Legislation Could Affect Partnership
South Korea is yet to create a comprehensive regulatory framework for stablecoins, with lawmakers still debating who can issue won-based tokens and whether bank ownership should be mandatory. Additionally, dollar-based payment and remittance services could also be subject to the country’s anti-money laundering, foreign exchange, and virtual asset rules. Dunamu has acknowledged that regulatory developments in South Korea could affect its partnership with Visa. The company is also discussing stablecoin infrastructure with domestic technology and financial companies.
Visa and Shinhan Partnership
Visa’s partnership with Dunamu comes days after it announced a strategic agreement with the Shinhan Financial Group to test stablecoin issuance, remittance, and redemption on its payment platform. The agreement allows Shinhan to test stablecoin functions on Visa’s existing platform and create a business model that aligns with South Korea’s market. Shinhan also plans to connect Visa’s global payment network to its subsidiaries, including Shinhan Bank, Shinhan Card, and Jeju Bank. Jin Ok-dong, CEO of Shinhan Financial Group, stated that the agreement builds on its existing partnership with Visa and offers “differentiated financial experiences to customers.”
“Through this agreement, we have expanded our long-standing partnership with Visa to the broader digital finance sector.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Bitcoin’s $80,000 level has emerged as a major threshold as the crypto asset attempts to break out of the current bear market. Several technical and on-chain measures are converging around this level.
At the same time, the traditional realized price has become less relevant because of the large amount of illiquid BTC supply, according to CryptoQuant analyst Darkfost.
$80K Breakout Test
In his latest post, Darkfost noted that Bitcoin’s market capitalization has been on the rise. At the cycle peak, the figure even reached $1.75 trillion. Because coins bought more than 10 years ago are now largely considered illiquid, they represent a much smaller share of the market capitalization than Bitcoin purchased more recently. This makes it necessary to adjust the realized price by weighting it according to the amount of capital invested.
Using this capital-weighted approach, the analyst calculated a Bitcoin cost basis of approximately $79,600. That figure places the average invested capital near the $80,000 mark, which makes the level a significant barrier for the crypto asset at present.
Darkfost explained that this area more clearly identifies where the average invested capital reaches neutrality. A daily close above $80,000, followed by a weekly close above the same level, would represent a strong signal. Such a move would also return a large portion of BTC’s invested capital to profit.
Next Buying Opportunity
Meanwhile, Ali Martinez said that the crypto asset could be heading toward another buying opportunity if its current market structure follows the pattern seen during the 2022-2023 bottom. The analyst stated that Bitcoin broke above a descending resistance trendline on Thursday, similar to the move seen in early 2023, which has brought back the May 2026 high near $83,000 into focus.
This level could lead to a retracement before Bitcoin makes another move higher. URPD data reveals a major resistance zone between $83,307 and $84,569, where nearly 975,000 BTC were previously acquired. This concentration of supply could make it difficult for Bitcoin to push through the zone on its first attempt.
Additionally, on-chain trader profit margins have climbed to 25%, a level that has often been followed by increased profit-taking and short-term corrections over the past year. Whales also appear to be taking profits, with roughly $88 million in gains already realized.
If selling pressure increases, he identified $76,996 to $78,258 as a crucial support range, where 843,000 BTC were previously traded. A break below that zone could shift attention to the next major demand area around $63,111, where roughly 925,000 BTC were traded.
Martinez said a pullback toward these support levels could present another opportunity before Bitcoin pushes towards $100,000.
The post Why $80,000 Could Be Bitcoin’s (BTC) Most Important Level Right Now appeared first on CryptoPotato.
OpenAI published an open letter signed by more than 100 companies. The letter warns that AI-enabled cyberattacks will become far more widespread and sophisticated in the coming months.
Signatories stretch across technology, banking, insurance, and semiconductors. Anthropic, Microsoft, Google, Amazon Web Services (AWS), CrowdStrike, Cloudflare, and Palo Alto Networks all added their names.
What the OpenAI Letter Asks For
The letter identifies four groups that need to act. Every organization should treat cyber defense as a leadership priority and fix its highest-risk weaknesses.
Cybersecurity vendors should make AI-powered defense deployable for critical infrastructure operators. Governments should coordinate response and support defense for hospitals, water utilities, and local authorities.
Frontier AI companies should provide model access, funding, and training to under-resourced defenders.
“Today’s AI advances are already giving defenders new ways to fix weaknesses that have accumulated for years. If we act decisively, we can use the defenders’ window to make our digital world much more secure,” the letter reads.
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What the Current Threat Landscape Looks Like
Evidence behind the tech giant’s forecast has already arrived this year. Taiwanese threat intelligence firm TeamT5 found Chinese state-affiliated groups doubled their attack volume after adopting DeepSeek and other open-source models.
Cost drove that choice rather than capability. Anthropic reached a broader conclusion in June. Its study of 832 banned accounts found the share of medium-risk or higher attackers rose from 33% to 56% within a year.
The firm also found that AI now handles privilege escalation and lateral movement, work that previously required technical skill. That erodes the link between an attacker’s expertise and the damage they can cause.
South Korean firm Genians found Kimsuky, a unit under North Korea’s Reconnaissance General Bureau, testing local AI tools.
TRM Labs scored criminal AI adoption at 54 out of 100 this year, up from 28 in 2024. The firm logged 201 crypto hacks in the first half of 2026, up from 83 a year earlier.
These are some of the many incidents researchers logged in 2026. The letter argues that today’s AI advances can still be turned into lasting security improvements that benefit everyone.
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The post OpenAI, Anthropic and 100+ Companies Warn AI Cyberattacks Will Surge Within Months appeared first on BeInCrypto.
Evernorth said on August 27 that the US Securities and Exchange Commission (SEC) had declared its registration statement effective, moving its proposed merger with Armada Acquisition Corp. II closer to completion.
The development puts the XRP treasury company one step closer to a Nasdaq listing, although shareholders still need to approve the deal before it can close.
Evernorth Moves Closer to Nasdaq
The company announced that Armada Acquisition Corp. II shareholders will vote on the proposed business combination on September 30, 2026. Closing remains subject to that vote and other customary conditions.
Evernorth CEO Asheesh Birla said the company plans to enter public markets as blockchain utility grows, adding that it expects institutional finance to increasingly be built on-chain. “Evernorth is designed to accelerate XRP’s role in that work,” he noted in the announcement.
The effective registration statement follows a process that started publicly in March when Evernorth filed its Form S-4 in connection with its planned combination with Armada II, a special purpose acquisition company sponsored by Arrington Capital.
As CryptoPotato reported at the time, the filing provided the first detailed look at Evernorth’s plan to give public-market investors exposure to XRP through an actively managed treasury. The company said then that it had raised more than $1 billion in gross proceeds from institutional and strategic investors, including Ripple, SBI Holdings, Pantera Capital, Kraken, and Arrington Capital.
The latest filing moves the transaction beyond the SEC review stage, but it does not mean the merger has already closed. If shareholders approve the deal and the remaining conditions are satisfied, the combined firm is expected to become publicly traded on Nasdaq under the ticker XRPN, subject to exchange approval.
What the SEC Decision Changes
The registration statement becoming effective removes one major procedural hurdle, but as pointed out before, the shareholder vote remains ahead.
Evernorth’s March filing described the proposed transaction as a combination involving it, Armada II, and Ripple. Under the agreement, holders of company units and Armada stock would receive shares in the resulting public company, subject to the terms and limitations set out in the transaction document.
The proposed structure is also different from simply launching an XRP-focused fund. Evernorth is being organized as a public company whose strategy centers on holding and managing XRP. That gives investors exposure through corporate equity rather than direct ownership of the underlying token.
For XRP holders, the more interesting question may come after the merger. Evernorth, as said earlier, has raised more than $1 billion for its treasury strategy and has said it wants to build what it expects to be Nasdaq’s largest publicly traded XRP treasury company, and the community will be waiting to see whether that translates into sustained XRP demand or meaningful activity on the XRP Ledger.
At the time of writing, the fifth-largest cryptocurrency was trading just above $1.40, up almost 10% over one week and nearly 32% in the last 30 days.
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Trump-linked crypto venture company, World Liberty Financial, is preparing to launch a federally chartered national trust bank after the Office of the Comptroller of the Currency granted preliminary conditional approval earlier this month. An entity linked to Sheikh Tahnoon bin Zayed al Nahyan and co-investors reportedly owns 49% of the holding company, the largest stake in that structure.
The proposed bank is intended to issue, redeem, and safeguard USD1, the dollar-backed stablecoin World Liberty launched last year. The venture links World Liberty’s stablecoin business to a proposed federally chartered trust bank.
The OCC’s action is preliminary and conditional rather than a final banking charter. According to the Journal, the approval concerns World Liberty Financial’s plan to launch a federally chartered national trust bank.
The proposed bank’s stated functions are to issue, redeem, and safeguard USD1. The conditional approval does not amount to a final charter.
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Trump Crypto Bank and The 49% Stake
Sheikh Tahnoon bin Zayed al Nahyan and co-investors are behind an entity that owns the largest stake, 49%, in World Liberty’s banking holding company, according to people familiar with the matter who spoke to the Journal. The Journal previously reported that Tahnoon backed a $500 million investment in World Liberty Financial last year in exchange for a 49% stake in the company.
The reported holding-company stake places an entity linked to Tahnoon and co-investors in the ownership structure of the proposed bank.
Tahnoon serves as the United Arab Emirates’ national security adviser and is the brother of the country’s president. He oversees a business empire valued at more than $1.3 trillion and funded by his personal fortune and state money, according to the Journal.
An Expanded Business Relationship
The new venture marks an expansion of the business relationship between the Trump-backed crypto company and a foreign government official, according to the Journal. World Liberty Financial is pursuing a proposed bank whose holding company ownership includes an entity linked to Tahnoon and co-investors.
The OCC’s preliminary conditional approval and the reported ownership structure are central elements of the proposed venture. The bank’s planned role is tied to USD1’s issuance, redemption, and safeguarding.
The approval remains preliminary and conditional. World Liberty Financial’s proposed bank has not yet received a final charter. For now, the proposed bank’s stated role is to issue, redeem, and safeguard USD1.
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The post Trump Crypto Empire Faces Scrutiny Over 49% Saudi Linked Stake in New Bank appeared first on Cryptonews.
Visa has teamed up with Dunamu, the parent company of South Korean crypto exchange Upbit, to explore how stablecoins could be used for payments, cross-border remittances and settlement—while also testing how artificial intelligence could enable more automated, commerce-oriented transactions.
In a partnership announcement issued Friday, Dunamu said the two firms will combine Dunamu’s digital asset technology with Visa’s global payments network to develop services for major markets, spanning payment flows, remittance rails, and settlement mechanisms.
Key takeaways
- Visa and Dunamu are collaborating on stablecoin-based payment, remittance, and settlement services.
- The partnership also targets “agentic commerce,” where AI agents may initiate shopping and payment actions on a user’s behalf.
- Dunamu said it is assessing multiple stablecoin projects rather than committing to a single token.
- The teams are considering payment models that could involve Open Standard’s proposed Open USD (OUSD), though the partnership isn’t limited to it.
Why Visa and Dunamu’s stablecoin push matters
Stablecoins have increasingly been positioned as a way to move value more efficiently across borders, particularly for remittances and settlement use cases. Visa’s involvement signals interest from a major legacy payments network in integrating digital-asset rails into broader payment infrastructure, rather than treating stablecoins as a standalone experiment.
For Dunamu, the partnership also represents an opportunity to connect its digital asset capabilities to a global network designed to reach consumers, merchants, and financial institutions at scale. The combination of Dunamu’s expertise and Visa’s established payments footprint is intended to support new business models across payment and settlement workflows.
Open USD is on the table, but not the only option
A key element of the announcement is that Dunamu and Visa are considering stablecoin structures tied to Open Standard’s proposed Open USD (OUSD), a dollar-backed stablecoin initiative unveiled in June.
According to Open Standard, more than 140 companies have signed up to use OUSD, with Open Standard citing Visa, Mastercard, Stripe, Coinbase and BlackRock among the listed participants. However, Dunamu’s Friday statement clarified that OUSD is only one of several stablecoin projects under review for the partnership. The company said it has not prioritized a specific stablecoin for the initiative.
This matters because it suggests the collaboration is still in a discovery and design phase—potentially focused on interoperability, settlement performance, regulatory fit, and integration pathways—rather than an immediate move toward a single token or issuance plan.
Upbit’s operator clarifies OUSD’s role
The partnership also lands amid ongoing scrutiny around who is actually involved in OUSD issuance. In July, Upbit said it was not participating in the issuance of OUSD after Dunamu, Upbit’s operator, was named among the businesses connected to the initiative.
That earlier clarification highlights a distinction that investors and market participants often look for in stablecoin partnerships: engagement on pilots, integrations, or infrastructure planning can differ significantly from taking part in issuance. With Dunamu now describing a broader evaluation of multiple stablecoin options, readers will likely watch for additional detail on whether the firms will narrow down to one model as testing progresses.
Agentic commerce: AI agents making payments
Beyond stablecoins, Dunamu and Visa said they will also explore “agentic commerce.” In this concept, AI agents can locate products and services, then perform purchasing and payments on a user’s behalf.
The announcement indicates the companies will look at how AI could be connected to stablecoin-based payment and settlement infrastructure—effectively combining automated decision-making with digital-asset rails. If executed, this could change how consumers experience online transactions by shifting certain steps of shopping and checkout into automated workflows.
Still, practical outcomes remain unclear. The partnership signals exploration of how AI and stablecoin payments might work together, but it does not outline specific pilots, product designs, or compliance frameworks for agent-driven transactions.
What to watch next
Visa and Dunamu’s collaboration raises expectations around stablecoin adoption at the payment-network level, but the next visible milestones will likely determine whether the partnership becomes a targeted pilot with a defined token and settlement model—or remains a broad feasibility effort across multiple stablecoins and AI-driven commerce scenarios.
CCC token on BSC has suffered an exploit that caused an estimated $117,000 loss after an attacker manipulated the token contract’s sell() function and burned tokens held in its liquidity pool.
Summary
- CCC suffered an estimated $117,000 exploit on BSC after an attacker targeted the token contract’s sell() function.
- TenArmorAlert said the function was used to burn CCC tokens held in the liquidity pool, causing abnormal price movement.
- The security firm has not disclosed the full attack sequence or explained how the attacker was able to trigger the affected function.
- No detailed post mortem, fund recovery plan or compensation proposal had been announced at the time of the alert.
According to blockchain security firm TenArmorAlert, its monitoring system detected suspicious activity involving CCC on BSC on Aug. 28 and traced the incident to the token contract’s sell() function. The firm said the function was used to burn CCC tokens directly from the liquidity provider pair, which was followed by abnormal movement in the token’s price.
TenArmorAlert estimated losses from the attack at roughly $117,000. The firm identified an attack transaction beginning with “0x89d805064” in its security alert but did not provide a full breakdown of the assets removed or the attacker’s final proceeds.
The available information does not identify how the attacker obtained the ability to trigger the affected function, whether access controls were bypassed, or whether another contract interaction was required before the tokens could be burned.
CCC exploit targeted tokens inside the liquidity pool
The reported attack centered on CCC tokens held by the LP pair instead of a direct withdrawal of assets from the pool.
TenArmorAlert said the contract’s sell() function burned CCC from the LP pair. Removing tokens from a trading pair in this manner can alter the token balances used by the pool, though the security firm has not yet published a detailed technical analysis explaining the complete sequence of transactions in the CCC incident.
The firm specifically linked the activity to abnormal CCC price movement after the burn. Independent reports published after the alert carried the same estimated $117,000 loss and sell() function explanation.
No information available at the time of writing showed whether the CCC team had paused the affected contract, changed its permissions, recovered funds, or announced compensation for affected liquidity providers.
Details about the CCC token itself remain limited in the security alert. TenArmorAlert identified the affected network as BSC, commonly known as BNB Smart Chain, but its initial post did not name the decentralized exchange hosting the LP pair.
The mechanics described by TenArmorAlert bear similarities to previous token exploits in which contract functions were manipulated to change the balances of tokens held by liquidity pools.
BNB Chain has seen other contract exploits in recent months
The CCC incident follows several attacks involving token contracts and liquidity infrastructure on BNB Chain this year.
In July, crypto.news previously reported that Swan Treasury lost $625,000 after attackers obtained an off-chain signer key used by its ZhaiquanBuy contract. The compromised key allowed the attackers to generate valid signatures and buy STY tokens at a steep discount before selling them through a STY-USDT liquidity pool.
Blockchain security firm Defimon Alerts found that the Swan Treasury incident involved the contract’s buy() function. The function calculated the amount of STY distributed based on a signed discount value, and the compromised signer allowed the attacker to generate signatures setting that parameter to one. The attacker could then obtain STY for about one-hundredth of its intended price.
Another BNB Chain-based token suffered a sharp price collapse in July after a separate exploit. Balance Coin fell more than 99% after security firms linked two suspicious transactions to an estimated $915,000 attack involving 42DAO.
TenArmor reported in that case that one transaction minted roughly 4.5 million unbacked BLC tokens before they were moved to PancakeSwap V2. The attacker reportedly exchanged the tokens for Binance-pegged USDT and BTCB, while BLC dropped from close to its intended $1 peg to an all-time low of $0.001209.
Liquidity pool attacks have used different contract weaknesses
Other attacks this year have reached liquidity pools through different contract-level weaknesses.
In June, Token of Power suffered a $1.58 million exploit involving its TOP/WETH Balancer V1 pool. Blockaid described the incident as a governance takeover attack, while Cyvers traced the loss to the affected Balancer pool.
The attacker drained 944.2 WETH from the pool, leaving it heavily diluted with TOP tokens. PeckShield later tracked 945.1 ETH sent to Tornado Cash. Security firms had not published a complete technical report on that attack at the time of the June report.
A May attack on DxSale involved another form of contract manipulation on BNB Chain. An attacker allegedly used a hidden contract backdoor to withdraw BNB locked by more than 1,400 liquidity providers, with losses estimated at $7.3 million. PeckShield later tracked about $1.87 million in BNB moving from an attacker-controlled address into two primary wallets before the assets were distributed to several Binance deposit addresses.
An older BNB Chain incident provides a closer technical comparison to the mechanism described in the CCC alert. SafeMoon lost about $8.9 million in March 2023 after an attacker exploited a public burn function that allowed tokens belonging to other addresses to be burned. The vulnerability had been introduced through a project upgrade and was used against the protocol’s liquidity pool.
TenArmorAlert has not said whether the CCC sell() function contained a comparable permission flaw or whether the attack required a different sequence of contract calls. Its Aug. 28 alert only identified the function, the burn of CCC tokens from the LP pair, the resulting abnormal price behavior and the estimated $117,000 loss.
At the time of the alert, no detailed post-mortem, recovery plan or further information about the attacker had been disclosed.
Crypto protocols that completed independent security audits accounted for 88.44% of all funds stolen since January 2025, according to CoinGecko’s 2026 state of crypto security report.
The study tracked 245 incidents and $3.63 billion in losses through July 2026. Independent auditors had cleared 147 of the breached platforms before attackers reached them.
Security Audits Did Not Stop 147 of 245 Crypto Hacks
CoinGecko said that only 11% of exploits involved in-scope smart contract flaws, though those cases still drained $396 million.
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The damage came from everywhere else. Attackers went after external infrastructure, code shipped after the audit closed, and systemic features that could be manipulated through governance.
Supply chain and infrastructure breaches took more than $1.8 billion, the largest single category in the report. Overall, smart contract exploit-driven losses across decentralized applications (dApps) reached $546 million.
May’s Stake DAO breach showed the limit. An attacker compromised a deployer key rather than exploiting contract logic. On centralized exchanges, stolen private keys remained the most common point of failure.
“Infrastructure and supply chain vulnerabilities have proven to be the most devastating for both CEXes and DEXes,” the report read.
The losses also cluster tightly. The 10 largest attacks alone produced 72.5% of everything taken across the 19-month window.
Cover against those losses is thinning too. Active on-chain insurance fell 20.2% to $130.2 million, and five of nine insurance protocols went inactive or changed direction.
2026 Brings More Hacks and Smaller Losses
Meanwhile, DefiLlama has logged 233 separate incidents so far in 2026, worth roughly $1.31 billion. The same stretch of 2025 saw 92 incidents and $2.37 billion in losses.
Incident volume more than doubled while total losses fell about 45%. Average loss per incident dropped from $25.8 million to $5.6 million. The $1.5 billion Bybit theft inflated the 2025 total.
Three cases carried most of this year’s total. Kelp DAO lost $292 million, and Drift Protocol lost $285 million in April 2026. These two also rank among the top three hacks since 2025, following Bybit
Smaller attacks now arrive pretty frequently, adding to the long list of 2026 crypto breaches. August alone brought an $8.5 million Term Labs governance exploit.
Overall, the pattern raises a scoping question rather than a competence one. Contract reviews remain narrow while deployment keys and governance parameters carry growing value.
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The post Audited Protocols Account for 88% of Crypto Hack Losses Since 2025, Report Shows appeared first on BeInCrypto.
CrowdStrike Holdings (CRWD) stock jumped 20.5% after the cybersecurity firm posted record fiscal second-quarter results, with its CEO tying the surge in demand directly to rising artificial intelligence (AI) driven cyberattacks.
The company beat Wall Street’s revenue and profit targets and raised its full-year guidance following the report.
Record Quarter Driven by AI Threat Demand
CrowdStrike reported $1.47 billion in second-quarter revenue, up 26% year over year and above the $1.44 billion analysts expected. Adjusted earnings came in at $0.31 per share, topping the $0.29 consensus estimate.
Net new annual recurring revenue (ARR), a measure of new subscription commitments added during the quarter, hit a record $332.8 million, up 51% from a year earlier. Total ARR climbed 25% to $5.84 billion.
Founder and CEO George Kurtz tied the results to what he called the “Mythos moment.” This is a reference to Anthropic’s Mythos model launch. Reports say it is capable of exploiting previously unknown software flaws and has pushed AI security up enterprise priority lists.
“The Mythos moment translated into mass-market acceptance that AI adoption needs security, and that’s CrowdStrike. Every enterprise will run on AI, and securing it is the largest market opportunity in our history.”
George Kurtz, CrowdStrike Founder and CEO
On the earnings call, Kurtz described an “arms race” in which AI is simultaneously driving more attacks and more security spending.
CrowdStrike raised its full-year net new ARR growth forecast by 630 basis points to roughly 34% at the midpoint. It also lifted full-year revenue guidance to between $5.99 billion and $6.01 billion.
The results echo CrowdStrike’s own prior research flagging AI-driven threats, and follow Jim Cramer’s stock picks naming cybersecurity as a top 2026 theme.
The results position CrowdStrike as one of several cybersecurity vendors benefiting from mounting enterprise anxiety over AI-enabled threats, a trend likely to shape spending priorities into the next earnings cycle.
The post Rising AI Cyberattacks Fuel Demand for CrowdStrike, Sending Stock Up 20.5% appeared first on BeInCrypto.
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