The Protocol: Lido Avoids Major Hack

Welcome to the Protocol, Coindesk’s Weekly Packing the most important stories in the technological development of cryptocurrency. This is Margaux Nijkerk and Sam Kessler, Coindesk Technology Technology.

In this issue:

• Hackering attempt at Lido results in 1.4 Ether lost from the Oracle provider
• Bitcoin Defi Security is improving as the rootstock increases the share of HASHRATE
• The next upgrade Ethereum “Fusaka” could reduce the cost of layer-2 and verification
• Telegram establishes a $ 8 billion in the cryptomic crime market

Network messages

Lido avoids a fundamental violation of security: Lido, the largest Ethereum protocol, prevented a major security incident after one of its nine Oracle keys was threatened in what seems to be a low impact, but a serious violation that includes Validator One operator. Lido provides more than 25% of all ether (ETH) on the Ethereum, making it one of the most important protocols in the ecosystem Ethereum. The wagon key was tied to a hot wallet used for Oracle reporting, which led to theft of only 1.46 ETH ($ 4,200) in gas charges. No user resources were affected and no wider compromise was detected, for x posts from Lido and Chorus One. – Tim Craig Read more.

Bitcoins Defi Blossoming: Decentralized finance (Defi) on a bitcoin blockchain can still be in infancy in relation to Ethereum, but the Bitcoin Defi (BTCFI) becomes safer and cheaper, said the crypto analytical company Messari. The central participant is the rootstock, one of the oldest bitcoins Layer-2 projectsMessari’s crypto analytical company said in its “State of Rockstock” report. Rootstock is now provided by 81% of the total Hasat of Bitcoins, which means that miners who are responsible for the HASHRATE amount also approve transactions in layer 2. The number was only 56% in front of the on -board and spiderpool, the largest and sixth mining pool in February. – Jamie Crawley Read more.

Fusaka Planning begins: After deployment Last week, Pectra, the largest Ethereum upgrade over a year, is moving to the next main upgrade of the chain: Fusaka. Pecra, The biggest change of code For Ethereum since the merger in 2022, it introduced key changes to the facilitation of institutions for institutions, improving the availability of wallet and increasing transaction efficiency. Developers have already begun to plan Fusaka, the next network upgrade, and have so far agreed to include a proposal to improve Ethereum (EIP) called “Peerdas”, which could help network support of larger “blocks” of transaction data. – Margaux nijkerk Read more.

Telegram interventions on the market of crypto crime: The Telegram application has closed thousands of channels belonging to the Chinese crypto-green market after a new research, according to the elliptice, explained the situation. The closure follows the report published by Blockchain Analytics on Tuesday on the rapidly growing telegram market called Xinbi Gundarn. The Colorado market has corrected transactions worth over $ 8.4 billion using USDT Stablecoin in Tether since 2022. According to Eliptics, it has facilitated money washing services, the operation of crypto fraudulent and other unlawful services such as intimidation and sex trading. – Tim Craig Read more.

In other reports

• Robinhood Markets (Hood)California Society based in California, said It agreed to buy a Canadian crypto company Wonderfi (WNDR) for $ 178.98 million. All-Cash’s acquisition value evaluates Wonderfi on 36 Canadian cents per share, 41% of the premium compared to its final price before the announcement. – Omkar Godbole Read more.
• Platform for trading in shares and crypto Statement (incoming) debuted for $ 52 per share on Nasdaq Exchange. The company received approximately $ 312 million from investors by selling 6 million shares for $ 52 per piece. Listing values ​​are evaluated by the company to $ 4.2 billion. Etoro became the first American crypto company to publish after the market uncertainty caused by President Donald Trump’s tariff action. – Helene Braun Read more.

Regulatory and policy

• The Gibraltar government said it plans to set the world’s first rules for clearing and settlement of crypto derivatives and to create a regulatory framework to improve market integrity and reduce key risks. In cooperation with the Gibraltar Financial Services (GFSC) and Crypto Exchange Bullish (whose owner, Bullish Group, is also a parent of Coindesk), the government has created a framework that adapts traditional regulations for the financial clearing market of virtual assets. – Jamie Crawley Read more.

Calendar

• 14.-16. May: ConsensusToronto
• 19.-23. May: Solana acceleratesNew York City
• 20.-22. May: An avalanche summitLondon
• 27.-29. May: Bitcoin 2025Las Vegas
• 27.-29. May: EthpraguePrague
• 8.-22. June: Berlin blockchain weekBerlin
• 30. June-3. July: EthccCannes
• 16.-18. July: Summit Web3Berlin
• 22.-28. September: Korea Blockchain WeekSoul
• October 1: Tokeen2049Singapore
• 11.-13. December: Solana breakpointAbu dhabi