BitcoinEthereumNews·
The post Summer.fi reveals months-long preparation behind $6M DeFi exploit appeared on BitcoinEthereumNews.com. Summer.fi has published a detailed post-mortem on the $6.04 million exploit that drained two of its Lazy Summer Protocol USDC vaults. It concludes that the attack was planned months in advance rather than being an opportunistic flash loan exploit. The report says the attacker spent roughly three months accumulating the assets needed to manipulate the protocol. The exploit was executed in a single atomic transaction on July 6. It also argues that the root cause was an operational issue during the offboarding of an old strategy rather than a flaw in the protocol’s smart contracts. Attack exploited incomplete offboarding process According to the post-mortem, the attacker manipulated the net asset value [NAV] of two USDC vaults. Stale-valued Silo vault tokens were donated into an Ark that had been capped during an offboarding process. However, the Ark remained included in the va
Read full articleSanctum's successful mobile app launch highlights the growing trend and potential of mobile-native DeFi solutions in expanding user engagement. The post Sanctum mobile app attracts over 9,000 users in launch week appeared first on Crypto Briefing.
The post Crypto Market Sectors Retreat as Meme Tokens Lead Daily Declines appeared on BitcoinEthereumNews.com. Meme sector leads losses as SocialFi stays positive despite wider crypto market weakness. SocialFi tops weekly and quarterly returns while DeFi leads year-to-date performance. Crypto sentiment stays in Fear as Bitcoin, Ethereum, and XRP extend daily declines. The crypto market turned lower after several days of gains, with sector performance data pointing to renewed caution across digital assets. Figures from SoSoValue showed losses spreading through most major crypto categories over the past 24 hours, while broader market indicators also reflected weaker prices and subdued investor sentiment. Although several individual tokens posted gains despite the decline, the Meme sector recorded the highest daily loss among the major narratives, contrasting with the SocialFi sector, which remained one of the few areas to finish the session in positive territory. Meme Sector Records the
The post Is Monad’s record $477mln TVL organic or incentive-driven? Assessing… appeared on BitcoinEthereumNews.com. Monad’s DeFi ecosystem has seen significant increases in liquid assets since November, which reflects an increase of participants in this environment. The Total Value Locked (TVL) within the Monad [MON] network rose from approximately $80 million in November to a high of $477 million. This rise indicates substantial capital flows into Monad. This growth began at a moderate pace and then accelerated rapidly beginning in March. As of April, the TVL in the network was greater than $400 million. More recently, Aave [AAVE] V3 launched on Monad, and it attracted almost $100 million in deposits. Source: X Additionally, MetaMask chose the home network for its “Money Account” to be on Monad. Despite this, the continued increase of liquidity is an important indicator of potential long-term success. Yet, the actual amount of liquidity does not necessarily translate into sustainable
Robinhood's DeFi expansion could democratize access to high-yield lending, challenging traditional banks and reshaping retail investment norms. The post Robinhood reports $377B in assets on platform, highlights Morpho integration for new lending product appeared first on Crypto Briefing.
The post Ethereum Trader Loss Exploit Exposes DeFi Vulnerability appeared on BitcoinEthereumNews.com. Just after 2 a.m. UTC on July 7, 2026, an Ethereum trader watched $2 million worth of Ether effectively vanish in a single block — not to a hacker, not to a scam, but to a routing vulnerability that silently redirected the swap through a near-empty liquidity pool. The incident is now one of the starkest documented cases of an Ethereum trader loss exploit involving same-block backrun extraction, and it exposes a structural tension at the heart of decentralized finance. Key takeaways An Ethereum trader swapped 1,126.44 ETH (~$2.01 million) and received only 5,776 LIT tokens worth roughly $14,500 — a 99.3% loss. The swap was routed through a low-liquidity AVAIL/WETH pool on Uniswap v3, executing at approximately 120 times the sustainable price for AVAIL. Block builder Titan extracted $1.8 million as a builder reward in the same block via same-block backrun arbitrage. GoPlus Security class
The divergence in USDT and USDC usage highlights evolving stablecoin roles, impacting global payment systems and decentralized finance growth. The post Tether’s USDT dominates payments while Circle’s USDC leads DeFi, Dune data shows appeared first on Crypto Briefing.
The post Dune: USDT Leads Payments, USDC Dominates DeFi appeared on BitcoinEthereumNews.com. The world’s biggest stablecoins are increasingly becoming chain-specific financial products, with Tether’s USDt (USDT) and Circle’s USDC (USDC) serving distinct roles across the crypto ecosystem rather than competing head-on. Dune’s Digital Asset Brief found that USDT overwhelmingly dominates onchain payments. During the first half of 2026, the biggest stablecoin settled about $95 billion in identified commerce payments, compared with $14 billion for second-biggest USDC. It also accounted for roughly 92% of the $48 billion in business-to-business payment volume. On Tron, USDT’s largest network, around 93% of the token’s supply is held in ordinary wallets rather than on exchanges, underscoring its role as a payment and remittance asset. USDC, meanwhile, has established itself as the dominant stablecoin in decentralized finance. USDC on Base processed roughly $2.6 trillion in transfer volume in J
Dune data shows Tether's USDT has become crypto’s dominant payments stablecoin while Circle's USDC powers DeFi, highlighting how blockchain choice shapes stablecoin use.
