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Crypto

Flare CEO says major XRPFi expansion over next six months to attract 5 billion XRP

Flare will push a major expansion of XRPFi, its XRP-based decentralised finance ecosystem, over the next six months, aiming to make XRP usable as a DeFi asset rather than only for payments. CEO Hugo Philion said Flare will become a fully programmable layer for the XRP Ledger and roll out upgrades starting in about two weeks. FXRP issuance has exceeded 150 million, and he projected up to 5 billion XRP could flow into Flare, though analysts see security checks and stablecoin liquidity as key hurdles.

Crypto

Wemix Dollar contract admin rights stolen, 5.23 million tokens abnormally minted

Administrator rights to the Wemix Dollar (WEMIX$) stablecoin contract in the WEMIX ecosystem were stolen, leading to the abnormal minting of about 5.23 million tokens. The Wemix team halted Wemix 3.0 internal and external bridges, related liquidity pool trading, and some services. Minted WEMIX$ was swapped into WEMIX and USDC.e and moved via bridges to Ethereum and BSC, with some assets reaching centralized exchanges.

Crypto

Verus-Ethereum bridge hacked again after two months, $7.54 million in assets stolen

The Verus-Ethereum bridge has been hacked for a second time in about two months, with $7.54 million worth of cryptocurrency stolen, blockchain security firm Blockaid said. It said the attacker exploited the same vulnerability used in the May breach and triggered unsecured payouts on the Ethereum side. CertiK also detected the hack and estimated losses at about $7.53 million, saying the funds were swapped into 3,916.1 ether and deposited into Tornado Cash.