Crypto World
XRP Price Drops Below $1 After Coreum Bridge Hack. First-Time Since 2024
An attacker drained nearly 200,000 XRP tokens from the Coreum bridge in 97 minutes on August 9, exploiting a validation gap in the relayer software rather than any weakness in the XRP Ledger.
The bridge halted operations as XRP slid below $1 amid broader market caution.
What Actually Went Wrong on the Bridge
A blockchain bridge is an infrastructure that connects two separate networks. This allows users to move value between chains that cannot communicate directly. Relayers monitor both sides and authorize transfers.
Coreum Bridge lets users lock XRP on XRPL and receive an equivalent bridged version on the Coreum blockchain, which they can use in Coreum apps and later bridge back to XRPL.
So, how did the hack happen? The numbers tell a precise story. The bridge account held roughly 200,410 XRP before the incident and began releasing funds at 19:16 UTC.
Over 97 minutes, the account executed 94 payments totaling 199,916.3 XRP to two newly created wallets, leaving just 493.5 XRP behind.
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Every transfer carried a valid authorization. A quorum of 17 out of 28 relayer keys signed each outgoing payment through the multi-signature process. Early social media explanations proved wrong. Warnings blamed rippling and the DefaultRipple flag, though native XRP cannot ripple because it has no issuer or trust lines.
The actual cause sat in the code. Relayers monitor XRP Ledger transactions and submit attestations whenever they detect payments carrying a Coreum-recipient memo.
One check was missing entirely. The software never verified that the payment destination was the bridge itself before crediting the corresponding balance. That omission opened the door.
Transfers between wallets controlled by the attacker were treated as genuine deposits, generating credits that later funded withdrawals of real XRP.
Why the XRP Ledger Was Never at Risk
The execution followed a pattern. Small probe transfers doubled in size before a steady stream of payouts averaging roughly 1,695 XRP every 50 seconds. Laundering began immediately. The receiving wallets forwarded most of the funds, complicating efforts to trace where the proceeds ultimately landed.
An important distinction deserves emphasis. No private keys were compromised, and the multi-signature process functioned exactly as designed, only on flawed evidence.
The XRP Ledger itself remained fully secure. The incident did not affect any of its core protocols, consensus mechanisms, or native transaction handling. Coreum suspended the bridge pending repairs.
Any restart will require destination-address verification, the check whose absence enabled the entire sequence.
An official post-mortem remains pending. Until it arrives, the full timeline and remediation plan stay incomplete for affected users.
XRP traded below $1 on August 11, down roughly 3.30% in the last 24 hours, according to BeInCrypto data.
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The post XRP Price Drops Below $1 After Coreum Bridge Hack. First-Time Since 2024 appeared first on BeInCrypto.
Crypto World
eToro to Buy US Brokerage TradeZero for Up to $231M as Crypto Revenue Shrinks

eToro Group agreed to buy TradeZero, a U.S.-focused online brokerage for active traders, for up to $231 million in cash plus up to 2.5 million newly issued Class A shares, the Nasdaq-listed company said in a release filed with the U.S. Securities and Exchange Commission on Tuesday. The purchase… Read the full story at The Defiant
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Riot Signs $9.1B, 20-Year AI Data Center Lease at Its Texas Bitcoin Mine

Riot Platforms has leased 191 megawatts of computing capacity at its Rockdale, Texas, bitcoin mining campus to an unnamed artificial intelligence company under a 20-year agreement the miner says will generate roughly $9.1 billion in revenue, according to an exhibit filed with the U.S. Securities… Read the full story at The Defiant
Crypto World
CFTC Sues Goliath Ventures Over Alleged $397M DeFi Liquidity Pool Ponzi

The U.S. Commodity Futures Trading Commission sued Goliath Ventures Inc. and its chief executive, Christopher Delgado, on Tuesday, alleging the Florida company raised at least $397 million from roughly 1,600 customers by promising to place their bitcoin and ether in decentralized exchange liquidity… Read the full story at The Defiant
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SEC to Unveil Alternative Crypto Plans to the CLARITY Act
The US Securities and Exchange Commission (SEC) votes Friday, August 14, on proposing Regulation Crypto. The purpose-built offering regime would mark the agency’s first major crypto rulemaking under Chair Paul Atkins.
The Senate left for its August recess without passing the CLARITY Act. That bill would divide digital asset oversight between the SEC and the Commodity Futures Trading Commission (CFTC).
SEC Crypto Plans Take Shape Before Friday Vote
Congressional inaction hands regulators the near-term initiative. Official notices confirm the open meeting for 10 a.m. ET at the agency’s Washington headquarters, with a live webcast. The agenda lists a single item from the Division of Corporation Finance.
Commissioners will decide whether to propose rules that give token offerings a dedicated legal path. Qualifying projects could raise capital under exemptions instead of completing full securities registration. The vote covers a proposing release only, so the text remains under wraps until Friday.
The proposal grew out of Project Crypto, the regulatory package Atkins placed on the SEC’s 2026 agenda. Its planks include registration exemptions for token sales, safe harbors for decentralizing projects, and custody standards for broker-dealers.
Atkins told CNBC in late July that the agency stands ready to act alone, even though he still prefers legislation.
“Statute is the way to future-proof something,” Atkins said in the interview.
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Senate Recess Leaves Regulators in the Lead
Democrats blocked floor action over an ethics carve-out tied to President Trump’s crypto holdings, according to American Banker. Republicans Josh Hawley and Jerry Moran also objected to the bill’s stablecoin yield language, siding with community banks.
Senate Majority Leader John Thune says the measure will move first when lawmakers return, teeing up a possible September vote. However, the bill still needs 60 votes, and Thune’s cloture strategy depends on Democratic support that has yet to materialize.
Meanwhile, some analysts argue the industry can advance without the bill. Grayscale research head Zach Pandl said passage looks unlikely in 2026 either way.
CFTC Signals the Same Playbook
The SEC is not acting in isolation. CFTC Chair Michael Selig issued a parallel warning in a July Fox Business interview. Regulators would end up writing all the crypto rules if Congress fails to deliver, he cautioned. He still urged senators to pass the bill, calling federal certainty critical for business.
Both agencies already coordinate closely. Their March joint interpretive rule classified most tokens outside securities law and carved out staking, mining, and airdrops.
Still, Atkins concedes that agency action lacks permanence. A future administration could reverse rules that Congress never wrote into statute. That caveat also applies to the March guidance itself.
A yes vote on Friday would open a public comment period, not finalize anything. The proposal’s exemption thresholds and eligibility tests will reveal how far the SEC intends to go without Congress. September’s Senate return will then show whether lawmakers reclaim the pen.
The post SEC to Unveil Alternative Crypto Plans to the CLARITY Act appeared first on BeInCrypto.
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MoneyGram Brings Cash-To-Crypto Ramps To Solana

MoneyGram has extended MoneyGram Ramps, its cash-to-crypto and crypto-to-cash API, to Solana, the company said Tuesday. Rift, a self-custody trading app, is the first Solana wallet to integrate it. Until now, Solana wallets that wanted to route users into MoneyGram's retail cash network had to… Read the full story at The Defiant
Crypto World
CT3 begins preparations for CT3GB token listing
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
CT3 is preparing for the CT3GB token listing by expanding storage infrastructure, building reserves, upgrading smart contracts, and planning an independent audit.
Summary
- CT3 is expanding storage capacity and reserves before launching its CT3GB token on public markets.
- CT3GB will support storage payments, infrastructure settlements, rewards, and other internal transactions across the ecosystem.
- An independent smart contract audit will review security, business logic, and industry standards before launch.

CT3 has started comprehensive preparations for the future CT3GB token listing as it expands the CT3 Cloud ecosystem. The company is scaling data storage infrastructure, building financial and infrastructure reserves, and preparing CT3GB to become its primary settlement asset. It is also moving to a new smart contract architecture and plans an independent audit before the token reaches the public market. CT3 says these steps are intended to support further platform growth and prepare its tokenized economy before the listing.
CT3GB token listing preparations expand
Over recent months, CT3 has expanded the capabilities of its platform, according to the CT3 official website. One key milestone was the introduction of automatic backup technology. CT3 said demand for data storage services rose after that feature was implemented, while growing data volumes showed the platform could support continuous storage use cases.
The company said the next stage requires both technical and economic preparation. CT3 is expanding its storage network, adding available computing capacity, and building reserves intended to support further scaling. The Storage Contracts program forms part of that effort. CT3 views the program as a way to increase network capacity while maintaining commercial use and creating a resource buffer for future growth.
CT3GB to become primary settlement asset
Most internal CT3 operations currently use Polygon infrastructure. After CT3GB launches, the company plans to move major financial processes within the platform to its own token. CT3GB is expected to handle payments for storage services, settlements with infrastructure owners, reward distribution, and other internal transactions.
The token is designed to connect users, storage infrastructure, and services across the CT3 Cloud ecosystem. CT3 plans to use CT3GB as the primary settlement asset for internal operations. The company presents this utility as a central part of its tokenized economy, rather than positioning the token only as another payment option.
New smart contract architecture takes shape
CT3 is also changing the structure of its storage technology. The company is segmenting storage infrastructure into separate specialized smart contracts. Different products will gradually receive their own contracts, with independent limits for capacity and separate resource accounting.
According to CT3, this structure should make scaling more efficient and improve visibility into infrastructure use. It is also intended to give the company more flexibility when developing new services. Separate contracts could allow new products to grow without changing services that are already operating within the platform.
Independent audit planned before public launch
Before CT3GB enters the public market, CT3 plans to complete an independent audit of the core smart contract infrastructure. The review will cover the contracts supporting the token and key platform services. It will examine contract security, business logic, and alignment with industry standards.
CT3 considers the audit a required part of preparing its economy for public launch. The company says the review can support trust among users, partners, and cryptocurrency exchanges. Together with storage expansion, reserve building, and the new contract structure, the audit forms part of a broader plan to launch CT3GB within an ecosystem prepared for continued growth.
CT3 describes itself as a company focused on decentralized data storage. Its platform combines a distributed storage network, NFT-based access keys, automatic backup tools, and scalable smart contract architecture for individual and corporate users seeking long-term storage and digital information protection.
The company’s solutions are designed for individuals and corporate users, with services focused on secure long-term storage, backup, and protection of digital information across its decentralized infrastructure network.
Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.
Crypto World
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Trump’s Secret Plane Trip Not Unprecedented, Former Agents Say
McDonald described the decision-making process around such operations as a joint effort among the Secret Service, the White House Military Office and White House staff, with “no one entity” holding more authority than the others.
The Department of Defense has referred questions from TIME to the White House. TIME has reached out to the White House for comment.
McDonald pushed back on the idea that Air Force One and the people still aboard it, including journalists, were left exposed. “I would find it incredibly hard to believe that those two planes weren’t escorted or with other assets from allies or the U.S. Air Force in the area,” he said, adding that he doubted the people on the aircraft “were dangled out there and left to fend for themselves.”
The operation broke a White House tradition that presidents rarely travel without a group of reporters known as the White House pool, to ensure the public has an independent account of the president’s activities. Former President Barack Obama broke the tradition in 2010 by leaving the White House to attend his daughter’s soccer game without telling reporters.
In 2000, President Bill Clinton secretly switched to an unmarked plane for a trip to Pakistan. At least one member of the White House pool, a reporter covering the trip for USA Today, was briefed on the operation beforehand, according to The Washington Post.
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