Project Eleven, the quantum cybersecurity startup backed by Coinbase Ventures, Balaji Srinivasan, Castle Island Ventures, and Variant, awarded a one bitcoin (BTC) prize last week to a researcher who claimed to have broken a 15-bit elliptic curve key on IBM Quantum hardware.

However, despite a Project Eleven press release framing it as the largest public quantum attack on the cryptography securing “Bitcoin, Ethereum, and over $2.5 trillion in Elliptic Curve Cryptography-secured digital assets,” several independent reviewers managed to replicate the feat using non-quantum, classical computing tactics like random number generation.

Indeed, within hours of the news, independent Bitcoin developers reproduced the supposed breakthrough on home computers.

Using no quantum computing, they showed that the prize winner basically repurposed a fancy random number generator.

Replicating a quantum prize win with home hardware

Researcher Yuval Adam ran one of the replication experiments using the public code of prize winner Giancarlo Lelli, a specialist whose GitHub repository hosts the winning submission.

However, Adam swapped Lelli’s IBM Quantum backend for a far more basic random number source, Linux kernel’s /dev/urandom.

Adam mostly left the rest of the setup alone, then opened a pull request against Lelli’s repository, documenting the outcome.

Finally, Adam asserted that random data from a non-quantum laptop provided a classical computer as much brute force energy as Lelli’s “IBM Quantum” backend for the goal of recovering a cryptographic private key from a public key.

He posted the summary on X: “I replaced the quantum computer with /dev/urandom. It still recovers the key.”

In the end, Linux’s urandom helped a regular computer recover the key in an comparable number of attempts to the supposed quantum backend.

Classical computations wearing quantum costumes

Former Bitcoin Core maintainer Jonas Schnelli claimed to have reproduced the prize-winning pipeline in roughly 20 lines of Python without any quantum hardware. 

Schnelli summarized, “The quantum computer contributed nothing (noise)! The answer was recovered by a classical checker sifting random noise.”

Coldcard founder NVK read the source code and reached the same verdict, calling the demonstrations “classical computations wearing quantum costumes.” 

Lelli’s own README conceded the point in plain text: “When shots >> n, random noise alone can recover d with high probability.”

Project Eleven’s three-judge panel awarded the BTC anyway.

A debate has started in the crypto market after researcher Giancarlo Lelli received a 1 BTC reward from Project Eleven. 

The prize followed his reported success in cracking a 15-bit ECC key using a cloud-based quantum computer.

Project Eleven said Lelli used a modified version of Shor’s algorithm for the test. The group also said its challenge had moved from 6-bit keys to 15-bit keys within seven months, showing faster progress in quantum testing.

Adam Back disputes quantum breakthrough claim

Blockstream CEO Adam Back challenged the idea that the test marked a real quantum attack on crypto. He argued that the result did not prove a useful quantum method against Bitcoin or modern cryptographic systems.

Back said the test looked closer to statistical guessing than a technical breach. In his view, the quantum computer did not solve the kind of hard problem that protects Bitcoin private keys.

Meanwhile, the main criticism focused on the small 15-bit key size. A key of that size has a limited search space, which makes it far easier to test possible answers than real Bitcoin keys.

Former Bitcoin Core developer Jonas Schnelli also questioned the result. He said the researcher checked about 20,000 possibilities out of 32,497, giving the method a high chance of success without quantum advantage.

Schnelli described the result as similar to “flipping a coin.” He also said, “Quantum computing contributed nothing useful here,” arguing that the experiment did not show a real threat to crypto security.

Bitcoin security debate continues

The claim has raised fresh discussion about quantum computing and Bitcoin. Some market watchers see the Project Eleven result as a step toward future risks, while critics say it does not apply to full-strength cryptography.

Back maintained that Bitcoin remains far from the reach of current quantum machines. He said quantum systems would likely target state secrets or banking systems before becoming a practical concern for Bitcoin.

Bitcoin uses far larger key sizes than the one tested in the experiment. For that reason, Back and other skeptics view the challenge as a small-scale test rather than proof that Bitcoin faces an immediate quantum threat.

The episode shows growing interest in post-quantum security across crypto. However, experts remain divided on whether the Project Eleven result marks real progress or only a controlled experiment with limited market relevance.

Key Takeaways

• Verizon shares climbed approximately 4% during premarket hours following stronger-than-expected Q1 results
• Company reported 55,000 net postpaid phone subscriber additions — marking the first positive first quarter since 2013
• Adjusted earnings per share reached $1.28, surpassing Wall Street’s $1.21 forecast
• 2026 full-year EPS outlook increased to $4.95–$4.99 range from previous $4.90–$4.95 guidance
• Service outage in January temporarily impacted wireless revenue due to $20 customer compensation credits

Verizon delivered quarterly earnings on Monday that exceeded Wall Street expectations, sending shares higher in early trading. The telecommunications company saw its stock climb approximately 4% before market open, hitting $48.33.

Verizon Communications Inc., VZ

The carrier reported adjusted earnings of $1.28 per share, topping the FactSet analyst consensus estimate of $1.21. Total revenue reached $34.4 billion, representing a 2.9% increase compared to the same period last year, although falling just short of the anticipated $34.8 billion.

While the earnings beat drew praise, the real story centered on customer growth. Verizon brought in 55,000 net postpaid phone subscribers during the first quarter. Wall Street analysts had projected losses ranging from 81,000 to 88,000 customers.

This marks the first time Verizon has delivered positive postpaid phone customer growth during a first quarter since 2013. For a telecom giant working to revitalize its wireless operations, this represents a significant achievement.

Behind the Customer Growth Revival

CEO Dan Schulman attributed the turnaround to strategic changes in customer approach. “We are beginning to reclaim our market leadership by putting the customer at the center of everything we do, reducing friction to increase loyalty and create genuine value,” he explained.

A key component of this approach involved aggressive targeting of competitors’ customers. Verizon provided enhanced incentives to consumers who presented bills from AT&T and T-Mobile, successfully converting rival subscribers to its network.

The company has also expanded its focus on bundled offerings — pairing home internet services with wireless packages — a tactic AT&T has successfully employed to improve customer retention. Early indicators suggest this strategy is delivering results.

The quarter also represents Verizon’s first financial report including Frontier, following the acquisition’s completion on January 20.

One notable challenge: wireless service revenue faced pressure from $20 customer credits distributed after a roughly 10-hour service disruption in January. These compensation payments, issued to hundreds of thousands of affected customers, modestly reduced overall revenue.

Upgraded Full-Year Outlook

Verizon increased its full-year adjusted earnings per share projection to a range of $4.95–$4.99. This revision moves up from the company’s prior $4.90–$4.95 target and exceeds the $4.90 analyst consensus at the midpoint.

The telecommunications provider also indicated it now anticipates total retail postpaid phone net customer additions for 2026 will fall within the upper half of its 750,000 to 1 million forecast range.

While subtle, this represents a significant upgrade in confidence. Verizon isn’t merely celebrating one strong quarter — management is signaling sustained momentum ahead.

S&P 500 futures traded relatively flat on Monday as investors awaited earnings reports from major technology companies.

LILPEPE nears presale completion after raising over $28 million as investor interest continues to grow.

The LILPEPE coin is close to wrapping up its presale with a total amount of funds collected surpassing the mark of $28 million. Although the project itself could be considered one of the newcomers on the market, it now appears among the most interesting to observe during the presale in the crypto world. At the moment, the coin’s price is $0.0022, with $0.0023 expected for stage 14.

The pricing strategy used by the Little Pepe coin has been quite instrumental in building momentum for the project. Early investors have been rewarded while simultaneously pressuring late investors into getting involved in the investment project. As the presale process winds down, there has been a marked increase in the number of buys that the coin has experienced as investors try to lock in their gains in anticipation of the price increase.

Utility, ecosystem strength, and $777k giveaway rewards

One of the key reasons why Little Pepe continues to have traction in the crypto space is that the coin seeks to shift focus away from the memecoin concept and incorporate real utility in its ecosystem. 

The Little Pepe coin is developed on an Ethereum-compatible Layer 2 blockchain network. These include rapid transactions, low gas prices, and scalability, all of which help make it more practical and effective for investors. In addition, it features zero taxation trade, anti-sniper mechanism for bots, staking benefits, meme launchpad, and DAO governance — all meant to improve its usability in the long term. Unlike most newly launched memecoins, one of the distinguishing factors about Little Pepe is its focus on utility, and this aligns with the prevailing industry trends.

Another appealing feature is a $777,000 giveaway for ten lucky individuals who can each get $77,000 of the LILPEPE token. Secondly, there is a 15+ ETH giveaway, where the top three buyers would be rewarded 5 ETH, 2 ETH, and 3 ETH. Adding on to it, some random 15 buyers will be rewarded 0.5 ETH as part of the giveaway program. These giveaways help investors to engage more in the presale race.

Late-stage demand and outlook beyond the presale

Now that the presale is drawing to a close, market factors are already starting to shift according to their well-known patterns. In particular, investors who might not have participated until now are joining the fray in greater numbers due to the scarcity of tokens and the upcoming rise in their price. These are typical behaviors for successful presales, which, if continued until the end of the process, will help to achieve a successful close. Meanwhile, the overall environment on the crypto market is favoring projects at an earlier development stage because of the flow of funds toward smaller projects that have higher chances of growth than larger-cap projects. 

At present, Little Pepe is enjoying these trends, thanks to its impressive funding and growing popularity. As the presale is wrapping up, Little Pepe will soon be facing its first real test as a project: its performance on the market after launch. Provided that the ongoing positive trend holds true, Little Pepe will complete its presale with strong results and become one of the most promising projects on the crypto market.

For more information about Little Pepe, visit the official website, X, and Telegram.

Luxembourg-based Banking Circle has begun offering regulated stablecoin settlement services after receiving a Crypto Asset Service Provider (CASP) authorization from Luxembourg’s financial regulator on April 15. The move expands the bank’s fiat-to-stablecoin and stablecoin-to-fiat settlement capabilities for institutional clients, marking a notable step in Europe’s push to build compliant digital-asset infrastructure under the MiCA regime.

The rollout supports Circle’s USDC, Paxos’ USDG, and Banking Circle’s own euro stablecoin EURI, widening the bank’s digital-asset settlement footprint beyond its initial EURI launch in August 2024. In its announcement, Banking Circle said it serves more than 750 payment companies, financial institutions and marketplaces that move and convert over 1.5 trillion euros (about $1.7 trillion) each year across its network. Chief digital asset officer Kirit Bhatia framed stablecoins as a natural extension of the bank’s infrastructure, underscoring their potential to cut costs and boost efficiency in settlement flows.

The development arrives as Europe’s regulated stablecoin ecosystem intensifies competition among banks, fintechs and crypto-native players who seek compliant rails for cross-border settlements under MiCA.

Key takeaways

• Banking Circle secures a CASP license from Luxembourg’s regulator, enabling its new stablecoin settlement services for institutions.
• The service supports Circle USDC, Paxos USDG, and Banking Circle’s EURI, expanding from the August 2024 EURI launch.
• The move signals growing institutional adoption of regulated stablecoins for fiat-to-stablecoin and stablecoin-to-fiat settlement within the European framework.
• European euro-stablecoin activity is heating up, with multiple banks and fintechs pursuing MiCA-aligned tokens and settlement rails, including large-scale launches and multi-chain expansions.
• The landscape features a blend of traditional banks, crypto natives and consortia pursuing interoperability, custody and tokenization infrastructure ahead of broader adoption.

Regulatory momentum and a crowded European playbook

The CASP authorization fits into a broader European momentum to formalize stablecoin issuance and settlement under MiCA, the EU’s ambitious framework designed to bring crypto assets into a regulated, bank-like regime. France’s Société Générale group, through its SG-FORGE unit, has been a prominent early entrant in euro-stablecoin issuance with EURCV, launching on Ethereum in April 2023 and later expanding to additional networks as part of a multi-chain strategy. In mid-2023 and 2024, SG-FORGE continued integrating its MiCA-compliant euro stablecoin into mainstream wallets and infrastructure, including a recent move to bring USDCV into MetaMask, broadening access to a regulated dollar stablecoin issued by a European bank.

Euro-stablecoin activity has also deepened on the custody and tokenization front. Sygnum added EURCV to its B2B platform in January 2025 to serve institutional clients, while a growing consortium of European lenders—ING, UniCredit, CaixaBank among them—has spurred the Qivalis project to issue a MiCA-compliant euro stablecoin with a planned launch in the second half of 2026. The consortium has since expanded to 12 banks and has partnered with Fireblocks to provide custody and tokenization infrastructure ahead of launch.

Beyond traditional banks, crypto-native infrastructure players are accelerating similar capabilities. Circle, the issuer of USDC, announced the Circle Payments Network in April 2025 as a managed settlement service for banks and payment providers, and Coinbase’s April 2025 partnership with Nium enables businesses to fund cross-border transfers with USDC and settle in USDC or fiat across a network spanning more than 190 countries.

Banking Circle’s emphasis on EURI as a bank-issued MiCA-compliant euro stablecoin provides a unique in-house option that complements the broader euro-stablecoin ecosystem now taking shape across Europe. The CASP license positions the bank to offer regulated settlement rails for both fiat-to-stablecoin flows and stablecoin-to-fiat conversions, a capability that could reduce pre-funding and liquidity costs for institutional users navigating cross-border payments.

Banking Circle’s strategy in a competitive market

Banking Circle’s admission to the CASP framework reinforces its broader strategy to become a utility-layer provider for digital-asset settlement across Europe. With more than 750 counterparties and a daily footprint that covers a substantial share of European cross-border payment volumes, the bank’s new service could become a preferred on-ramp and off-ramp for institutions seeking compliant, bank-backed stability rails. The combination of USDC, USDG and EURI expands the pool of stablecoins that institutions can utilize to optimize liquidity, settlement speed, and cost efficiency in diverse jurisdictions.

Industry observers note that the European stablecoin space remains highly competitive and uncertain in some respects, given regulatory developments, interoperability considerations, and the cadence of new deployments. While the leading euro-stablecoin players push multi-chain strategies and deep integration with wallets and custodians, banks like Banking Circle are betting on regulated, bank-issued tokens to provide trusted rails for big-ticket settlements. The ongoing evolution of MiCA-compliant stablecoins—alongside continued convergence between fiat-backed tokens and traditional payments rails—could redefine how institutions move value across borders in the near term.

For readers watching next, the key questions revolve around adoption and interoperability: Will more banks and payment networks formalize stablecoin settlement programs under CASP licenses? How quickly will MiCA-compliant euro tokens gain traction in settlement pipelines versus multi-chain opposition? And how will custody and tokenization partners like Fireblocks, Sygnum, and others influence deployment timelines and risk management practices as the market matures?

As the European regulatory and market landscape continues to crystallize, Banking Circle’s CASP-backed stablecoin settlement push provides a tangible signal of momentum for institutions seeking regulated, scalable digital-asset settlement rails. The next several quarters should reveal how deeply these rails are being woven into mainstream payment networks and what that means for liquidity, cost, and the speed of cross-border transfers.

Key Highlights

• Micron (MU) shares have surged over 70% in the current year while maintaining a modest 8.4x forward P/E ratio
• The company’s entire 2026 high-bandwidth memory inventory has been secured through long-term customer agreements
• HBM4 manufacturing commenced in April 2026, delivering 2.8TB/s bandwidth and 20% enhanced energy efficiency versus HBM3E
• The memory chipmaker is advocating for stricter U.S. restrictions on semiconductor equipment exports to China
• Hard drive leader Seagate (STX) reports complete 2026 allocation for its data center nearline storage products

Micron Technology (MU) has experienced remarkable momentum throughout the past twelve months, delivering year-to-date gains exceeding 70%. Even after this substantial rally, shares continue trading at an attractive 8.4x forward earnings multiple that market analysts view as compelling.

Micron Technology, Inc., MU

The primary catalyst behind this performance has been the company’s high-bandwidth memory portfolio. HBM technology utilizes vertical chip stacking architecture instead of traditional horizontal layouts, enabling dramatically superior data transfer rates compared to conventional DRAM solutions. Micron’s HBM3E variant achieves 1.2TB/s data movement while consuming 30% less energy than competing offerings.

Nvidia selected Micron as a key HBM provider for its Blackwell graphics processing unit series. This partnership has generated demand levels that far exceed current production capabilities. Micron’s complete 2026 HBM manufacturing capacity has been committed through extended customer contracts.

Volume manufacturing of Micron’s advanced HBM4 technology started in April 2026. The new generation delivers bandwidth exceeding 2.8TB/s while boosting energy efficiency by over 20% compared to HBM3E. Market pricing for this cutting-edge product has climbed more than 50%.

Policy Advocacy Creates Competitive Implications

Micron has been engaging with U.S. policymakers to strengthen export restrictions on sophisticated semiconductor manufacturing equipment destined for China. Company leadership frames these efforts around national security concerns. The initiative also carries strategic business implications.

Limiting equipment exports to Chinese semiconductor manufacturers would constrain capacity expansion for competitors including Samsung, SK Hynix, and Chinese domestic DRAM producers. This scenario would reinforce Micron’s established position in artificial intelligence memory markets. Conversely, enhanced restrictions might reduce Micron’s market access within China and potentially trigger retaliatory measures.

Market observers have identified elevated non-cash earnings components and recent insider stock sales as factors deserving continued scrutiny alongside regulatory developments.

Seagate Benefits from Parallel Trends

Seagate Technology (STX) is capitalizing on the identical AI infrastructure expansion cycle. As the global leader in hard disk drive manufacturing, Seagate addresses distinct storage requirements. Approximately 90% of AI-created data ultimately resides on HDD systems, which deliver per-terabyte costs up to six times lower than solid-state alternatives.

Seagate’s heat-assisted magnetic recording (HAMR) technology powers its Mozaic product line, achieving storage density exceeding 4TB per platter — an industry-leading specification. This capability enables data center operators to more than double storage capacity within existing physical infrastructure.

Seagate’s nearline drive portfolio, consisting of high-density units deployed in data centers, has reached full allocation through 2026.

Both organizations count hyperscale cloud providers — including Microsoft, Google, and Amazon — among their principal customers. Capital spending commitments from these technology giants represent a critical variable for future performance. Any deceleration in hyperscaler infrastructure investment could rapidly alter demand dynamics for Micron and Seagate.

Micron launched volume HBM4 production in April 2026, with pricing elevated over 50% compared to previous technology generations.

Bitcoin Cash holds steady as BlockchainFX gains investor attention heading into the final week of April 2026.

Ten thousand dollars is sitting in a wallet right now, and the clock is ticking on where it should go. Bitcoin Cash is doing what BCH usually does, holding its ground without breaking a sweat or breaking records, while a fresh name keeps popping up in every Telegram group and trader chat. That name is BlockchainFX, and the chatter around it has reached a volume that honestly feels hard to ignore as April 2026 winds down toward its final week.

So why is BlockchainFX (BFX) being called the next big crypto by analysts and early buyers alike? The answer sits somewhere between its trading super app design, its Anjouan Offshore Finance Authority license, and a presale that has already pulled in over $14.38M from more than 23,900 participants. Add a juicy bonus code into the mix, and the urgency starts making perfect sense.

Why BFX has traders rushing the final whistle

The presale is currently priced at $0.035 per token, and the launch price is locked at $0.05. That alone hands early buyers a tidy gain before BFX even hits its first exchange. But here’s where things get spicy: the bonus code CEX60 drops 60% extra BFX tokens straight into buyers’ allocations, valid only until June 1st at 6 PM Dubai time. It’s the first exchange listing reveal code, which explains the generosity behind it.

What makes BFX stand out isn’t just the discount. The platform brings stocks, forex, ETFs, commodities, and crypto under one roof, something Binance and Coinbase have flirted with but never properly delivered. On top of that, holders earn daily passive rewards in BFX and USDT through staking, with payouts climbing as high as $25,000 USDT for top stakers. Trading and earning at the same time? That’s the kind of math investors actually enjoy.

The CEX60 math nobody wants to miss

Run the numbers on a $2,000 buy. At $0.035, that grabs roughly 57,142 BFX tokens. Apply the CEX60 bonus, and the total balloons to about 91,427 tokens. At launch price of $0.05, that stack is worth around $4,571 instantly. Now imagine the analyst-backed $1 post-launch target playing out – that same $2,000 turns into roughly $91,427. Wild? Maybe. But with a $15M softcap closing in fast, the window is shrinking by the day.

Quick mention worth tucking in: anyone buying $100+ of BFX gets entered into the $500,000 Gleam giveaway once the presale fully sells out.

Bitcoin Cash outlook: Reliable, but quiet

Bitcoin Cash continues holding its position as one of the most established peer-to-peer payment-focused cryptocurrencies, with recent action reflecting steady but cautious momentum. BCH has caught some upside alongside Bitcoin in recent weeks, but it remains tied to a cycle dictated by liquidity flow, adoption metrics, and overall sentiment rather than any standalone catalyst. For long-term BCH holders, that familiar pattern brings comfort, though not exactly fireworks.

Price predictions for BCH currently lean cautious, with bullish takes pointing toward renewed retail interest and adoption gains, while bearish voices highlight competition from newer chains. The bigger issue for fresh capital? Bitcoin Cash rewards patience, not urgency, and a $10,000 allocation there mostly waits for market cycles to swing. Compared to a presale closing in on its softcap, the opportunity cost stings a little more than usual right now.

Final word: Where that $10,000 should actually land

Based on the latest research, the best crypto presale right now is BlockchainFX, full stop. Bitcoin Cash will keep doing its thing, slow and steady, but BFX is offering ground-floor entry into a regulated trading super app with real users, real volume, and a presale wrapping up faster than most people realize. The next big crypto title isn’t handed out lightly, yet BFX has earned every bit of the attention.

The CEX60 bonus code, the $0.035 entry price, and the looming $15M softcap together create the kind of setup early crypto investors dream about. Once that target hits, the presale ends and BlockchainFX launches, period. Anyone still on the fence might want to lock in their bag before the next big crypto leaves the station without them.

For more information, visit the official website, X, and Telegram.

Bitcoin BTC$77,779.73 is doing that familiar dance just below a big round number, $80,000, stalled by sellers even as fresh stablecoin liquidity, ETF demand and a risk-on equity market suggest the breakout may be delayed rather than denied.

The leading cryptocurrency briefly climbed above $79,000 during Asian trading hours before slipping back to trade below $78,000 recently. Over the past 24 hours, bitcoin has lost about 0.4%. Ether (ETH) has fallen 0.6%, XRP (XRP) is down 0.8% and Solana’s SOL has dropped more than 1%. Broader market benchmarks, including the CoinDesk Memecoin Index and Smart Contract Platform Select Capped Index, were also under pressure, falling more than 1% each.

According to Alex Kuptsikevich, chief market analyst at FxPro, the $80,000 level is acting as a near-term ceiling due to concentrated sell orders.

“Bitcoin has approached the $80K mark for the second time in the last few days, but has since experienced significant downward momentum. As it approaches this round figure, a build-up of sell orders is preventing the coin from moving further upwards,” he said in an email.

Still, Kuptsikevich argued the pullback appears temporary and consistent with a broader uptrend that began in late March.

This is an excerpt from CoinDesk newsletter ‘Daybook.’ Sign up here, if you haven’t already.

On-chain and ETF data offer support for that view. Crypto exchange Binance has recorded a net inflow of roughly $3.4 billion in stablecoins so far this month, following $3 billion in March, according to CryptoQuant data. That suggests fresh capital inflows, waiting for a entry point.

“This indicates an influx of new capital waiting to participate in the recovery,” pseudonymous CryptoQuant analyst Darkfost wrote on X.

Institutional demand remains strong. U.S.-listed spot bitcoin ETFs have pulled in $2.44 billion in investor money this month, the most since October, when bitcoin hit record highs above $126,000.

But not everything is hunky-dory. Security risks in decentralized finance (DeFi) continue to weigh on sentiment. On Sunday, the SUI-based lending platform Scallop was exploited, resulting in the loss of roughly 150,000 SUI, or about $142,000. While small, it adds to a growing list of attacks this month, including the massive Drift and KelpDAO exploits.

Together, DeFi protocols have lost an estimated $623 million to hacks in April alone, according to Memento Research. Since inception, total losses from DeFi-related exploits have climbed to roughly $7.72 billion, according to data source DeFiLlama. This underscores a persistent structural risk for the sector.

In traditional markets, WTI crude oil prices continue to hover above $90 per barrel, with Brent above $100 as supply remains constrained. The latest pricing is significantly higher than $70 or below before the Iran war began in late February, and threatens to destabilize global economy with high inflation. Stay alert!

Read more: For analysis of today’s activity in altcoins and derivatives, see Crypto Markets Today . For a comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead.”

What’s trending

Today’s signal

The pie chart shows the breakdown of total losses suffered in crypto hacks by different methods of attack, including private key compromises, phishing exploits, access control issues and other smart-contract vulnerabilities.

Since inception, the biggest vulnerability has been private key compromises, accounting for 40% of the total.

Think of a private key as the master password to your crypto wallet. It’s a long, random string that proves you control your wallet and own crypto funds in it, allowing you to transact onchain. The issue, however, is that there is no reset password option if you lose the key.

So, once the hacker has it, you have lost your wallet and funds. This is known as the private key compromise and the fact that it’s the biggest security risk indicates that audits need to focus beyond just smart contracts.