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Crypto

Moonwell DeFi protocol hit by $1.7 million hack after AI smart contract bug

Moonwell, a decentralised finance lending protocol, suffered a $1.7 million hacking loss due to an AI-based smart contract error, Cointelegraph reported on Feb. 18. Moonwell had expected AI-assisted smart contracts to strengthen security, but AI-generated code created a vulnerability that led to the attack. Cointelegraph said a cbETH price oracle output $1.12 instead of $2,200, which attackers exploited. CEO Parker Smith warned AI can speed coding but increase risk without stronger security checks.

Crypto

ECB to push digital euro pilot in 2027, select payment firms in Q1 this year

The European Central Bank is speeding up a pilot project aimed at introducing a digital euro, Cointelegraph reported on Feb. 18. ECB Executive Board member Piero Cipollone said selection of EU payment service providers will begin in early 2026. The ECB plans to run a 12-month pilot from the second half of 2027. Cipollone said the project is designed to protect European card systems and keep banks at the core of euro zone payments.

Crypto

Modern Treasury integrates stablecoin payments alongside ACH and wire transfers

Modern Treasury has introduced a payment service provider that handles stablecoin payments on the same infrastructure as ACH and wire transfers, Cointelegraph reported on Feb. 18. The update allows companies to operate cryptocurrency and fiat payments without separate vendors or technical integration. Stablecoins are processed under the same regulatory framework as traditional payment systems. Modern Treasury previously acquired Beam and added partnerships including Paxos, and joined networks supporting Global Dollar and USDC.