The post Secret Network Proposes SCRT Move From Cosmos to Arbitrum appeared on BitcoinEthereumNews.com.
Privacy-focused layer-1 blockchain Secret Network is proposing to move from its longtime home on Cosmos to Ethereum layer-2 Arbitrum, citing security risks from artificial intelligence, among other reasons. Secret Network has been running privacy-preserving smart contracts on Cosmos since 2020, as the ecosystem had strong momentum back then, but the “environment has changed,” the team said Tuesday. “The security risk is the part we take most seriously,” it said. “Old code is becoming dramatically easier to analyze … With AI, the cost of attacking stale code is falling across the board.” The recent Axelar-Secret IBC bridge exploit highlighted growing security risk from aging, under-maintained code — a risk the team argues AI-assisted exploitation is making worse. The release of advanced AI models such as Anthropic’s Claude Mythos 5 has dramatically increased the capabilities for d
The post Iran-Israel Strikes Push Bitcoin Down 1% to $62,657 appeared on BitcoinEthereumNews.com.
IRAN-ISRAEL News Bitcoin (BTC) slipped to $62,657 in Asian trading hours on Tuesday, down nearly 1% since midnight UTC, after the United States and Iran exchanged fresh aerial strikes and drove the dollar higher. The renewed Iran-Israel-linked conflict, which has repeatedly rattled risk markets this year, sent traders reaching for safety again. Major altcoins followed the leader lower: Ether (ETH), XRP (XRP) and Solana (SOL) each fell between 1% and 2.3% over the same window. Our reading of the tape shows the selling was orderly rather than a panic flush, but the geopolitical bid for the dollar kept a firm lid on every major token through the session. The commodity side amplified the pressure. WTI crude futures jumped more than 2% to $72.27 a barrel as the strikes reignited fears over supply through one of the world’s most sensitive energy corridors. The Dollar Index held steady above 101.
Bitmine's ETH acquisition underscores growing institutional confidence, potentially impacting Ethereum's market dynamics and future valuation.
The post New: Tom lee’s bitmine just bought another $71.6 million of ETH appeared first on Crypto Briefing.
The post Secret Network Proposes SCRT Migration to Arbitrum, Sets Sept. 1 Snapshot appeared on BitcoinEthereumNews.com.
Arbitrum News Secret Network has proposed relocating its native token SCRT from the Cosmos ecosystem to Arbitrum, the leading Ethereum layer-2 network, in a plan that now hinges on a community governance vote. The privacy-focused layer-1, which has run privacy-preserving smart contracts on Cosmos since 2020, argues the operating environment has shifted decisively. The proposal would reissue SCRT as an ERC-20 token on Arbitrum, anchoring the project to Ethereum’s deeper liquidity and tooling. A one-time snapshot of SCRT balances is scheduled for September 1, forming the basis for the new contract. Nothing takes effect until token holders formally approve the transition. The team framed security as the most serious driver behind the move. It warned that aging, under-maintained code has become dramatically easier to analyze, and that advances in artificial intelligence a
The post Secret Network may leave Cosmos for Arbitrum after bridge exploit appeared on BitcoinEthereumNews.com.
Secret Network is seeking to move SCRT from Cosmos to Arbitrum, citing security risks, weaker liquidity, and older code. Summary Secret says AI makes older bridge code easier to scan, attack, and exploit over time. The proposed Arbitrum move follows a $4.7 million Axelar-Secret bridge exploit tied to legacy integration. SCRT holders face a Sept. 1 snapshot, with non-native or contract-held balances excluded from claims. In a July 7 governance post, the privacy-focused blockchain said the plan would create a new ERC-20 SCRT token on Arbitrum through a one-time snapshot on Sept. 1. The team said native and staked SCRT balances would count, while sSCRT, bridged SCRT, contract-held tokens, and IBC assets would not qualify. The proposal has not passed yet. The team said the move needs a community vote, and the migration will not proceed if holders reject it. AI exploit risk drives
The post Charles Hoskinson Celebrates RealFi Launch as a Unique Cardano Innovation appeared on BitcoinEthereumNews.com.
Key Insights: Charles Hoskinson calls the RealFi testnet one of Cardano’s biggest milestones. Community members compare Ethereum’s UTxO plans with Cardano’s EUTxO model. Supporters highlight Cardano’s TPS data and look ahead to the Leios upgrade. Cardano news gained fresh attention after founder Charles Hoskinson welcomed the launch of the RealFi testnet and called it one of the biggest releases in the network’s history. The update came as community members also discussed Ethereum’s UTxO plans and Cardano’s transaction speed claims. Charles Hoskinson Welcomes RealFi Testnet Cardano founder Charles Hoskinson has praised the launch of the RealFi testnet, calling it one of the most important releases the network has seen. His comment followed RealFi’s announcement that Phase 1 of its testnet is now live. The project said users can now try some of its main features before
The proposed migration highlights the growing need for blockchain systems to adapt to evolving security threats, including AI-driven exploits.
The post Secret Network warns of AI exploit risks as it proposes migrating SCRT token to Arbitrum appeared first on Crypto Briefing.
