On Tuesday, cybersecurity firm PeckShield and on-chain data analysts Lookonchain revealed that a hacker created approximately $76.7 million in fake Bitcoin tokens connected to Echo’s eBTC.
A recent event has brought renewed attention to the vulnerabilities of cross-chain bridges, which continue to be a major security concern for the decentralized finance (DeFi) space in 2026. The issue was initially highlighted by crypto trader DCF GOD on X.
The ledger, in its present state, is occupied with the adoption of the new 3.1.3 software version, a matter which has stirred no small amount of discontent regarding the network’s consensus. One cannot help but wonder if such updates are but a trial of patience for the industrious validators.
Curvance temporarily halted trading on the impacted market, and Echo Protocol stopped all transfers between different blockchains. This brings the total number of cryptocurrency hacks for May to 14.
Bitcoin’s price dropped below $77,500 and continued to fall. It went below $77,000 and then dipped even further to below $76,500.
Key Takeaways (because who has time to read the whole thing?):
Vitalik Buterin believes that despite concerns AI bug-finding tools could make truly secure code unattainable, he’s hopeful. He sees AI-powered formal verification as a key reason for his optimism.
In a thread so spicy it should come with a warning label, Binance’s research arm claims four on-chain metrics are pointing to a supply squeeze tighter than skinny jeans after Thanksgiving. Long-term holders are clutching their coins like they’re the last slice of pizza, speculative activity is as subdued as a Monday morning, and short-term holders are just starting to rebuild their ego-I mean, profits. The vibe? Forced selling is so last season, honey.
Bitcoin remains the leading asset of the three, but its upward trend appears to be slowing down after failing to break through the $81,000 level, which is a key indicator of long-term price movement.
