Bitget expands breach estimate to $387.5 million and launches asset recovery bounty
Bitget raises its breach estimate to $387.5 million, Bitcoin slips as Treasury yields surge, LayerZero faces a KelpDAO lawsuit and Strategy targets daily dividends.
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Crypto security is back in focus, with Bitget raising the estimated impact of its latest breach to $387.5 million.
KelpDAO developer Evercrest is also escalating an older dispute, suing LayerZero over the $292 million rsETH bridge exploit from April.
Meanwhile, rising Treasury yields are adding fresh macro pressure, pushing bitcoin and other major assets lower over the latest hour.
Strategy is also seeking shareholder approval to move four of its preferred stocks to daily dividend record dates.
Bitget raises breach estimate to $388M, launches recovery bounty
Bitget's September 24 breach just got $36M more expensive than first reported.
The exchange says it identified and patched the vulnerability within 24 hours.
A public bounty program now offers rewards for helping recover stolen funds.
With nearly $388M at stake, the bounty's success could set a precedent for how exchanges handle post-breach recoveries.
Markets
Ethereum ETFs ride a five-day inflow streak as Treasury yields bite
US spot Ethereum ETFs pulled in $747M across five straight days of net inflows.
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Cumulative inflows since launch now sit around $14B, covering 5% of ETH's market cap.
A late-session spike in 10-year Treasury yields to 5.2% triggered broad hourly selling across crypto.
BTC held near $84K, ETH traded around $2,700, SOL climbed past $120, and XRP settled near $1.59.
KelpDAO developer sues LayerZero and its CEO over $292M bridge exploit
Evercrest Technologies is taking LayerZero Labs and CEO Bryan Pellegrino to court.
The suit alleges LayerZero's infrastructure failures enabled a $292M exploit of KelpDAO's rsETH bridge.
The case could redefine who bears liability when cross-chain bridges collapse.
Strategy proposes daily dividends on its preferred securities
Michael Saylor's Strategy wants to pay dividends every single day, weekends included.
The plan covers four preferred instruments: STRF, STRC, STRK, and STRD.
Payouts would accrue daily and settle on the next business day.
The goal is tighter price stability, which matters when your stock doubles as a Bitcoin proxy.
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Meme of the Day
That’s a wrap.
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