Syndicate Labs Private Key Leak Attack: Approximately 18.5 million SYND Tokens Transferred, Promises Full Reimbursement to Users
May 1st — Syndicate Labs confirmed a private key leak led to a malicious upgrade of its cross-chain bridge contract on two blockchains, with only one specific chain impacted (other networks were unaffected).
The attacker transferred and sold roughly 18.5 million SYND tokens (valued at ~$330,000) plus ~$50,000 in user-held tokens.
Syndicate noted the attack involved multi-stage reconnaissance, infrastructure mapping, and precise execution — signaling high technical sophistication — and ruled out insider involvement. Root causes included storing the private key in a password manager without an extra encryption layer, plus an upgrade process lacking multi-signature/hardware signing, specific upgrade alerts, or circuit breakers.
The team announced full compensation for all affected users (including returning the 18.5 million SYND plus additional relief) and affected app chain customers. Security upgrades are underway: stronger private key encryption, tighter access controls, plans
1 minutes ago
Current mainstream CEX and DEX funding rates indicate that the market remains predominantly bearish
May 1st, per Coinglass data, Bitcoin posted a slight dip, and current funding rates across major centralized (CEX) and decentralized (DEX) exchanges still reflect a predominantly bearish market. Specific funding rates are included in the attached image.
BlockBeats Note: Funding rates are set by crypto exchanges to keep contract prices aligned with spot prices, typically for perpetual contracts. They facilitate fund transfers between long and short traders—exchanges do not collect this fee. The mechanism adjusts the costs or profits of traders holding contracts to narrow the gap between contract and spot prices.
A 0.01% rate serves as the baseline: rates above 0.01% signal a generally bullish market, while rates below 0.005% indicate a bearish trend.
1 minutes ago
Salesforce is currently co-creating its AI development roadmap with customers
A Verge analysis references TechCrunch reporting that Salesforce believes it’s found a strategy to stay competitive even as AI’s future direction remains uncertain: the CRM software giant is crowdsourcing its AI product roadmap in real time.
Salesforce isn’t the only company partnering closely with customers to collect product feedback, but its massive scale, rapid pace of new product launches and existing product iterations, and high level of customer engagement make this approach particularly representative. These interactions are no longer annual or even quarterly—some customers connect with Salesforce on a weekly basis.
1 minutes ago
Musk: Most Cryptocurrencies Are a Scam
April 30 — Elon Musk’s relationship with Sam Altman and OpenAI has publicly deteriorated, per Fortune. In testimony for his lawsuit against the AI firm, Musk also took a cooler stance on cryptocurrency.
During a Wednesday court hearing in Oakland, when asked to explain cryptocurrency, Musk said: “Some are valuable, but most are scams.” New York Times reporter Mike Isaac relayed the comment on social media.
The remark stemmed from questions about OpenAI’s 2018 consideration of a brief initial coin offering (ICO) for funding. At the time, OpenAI was still a nonprofit. Details of that ICO plan are part of Musk’s ongoing legal battle with OpenAI over the company’s original mission.
Musk co-founded OpenAI in 2015. He accuses the firm of violating its founding agreement after striking an investment deal with Microsoft and launching commercial products. In court, Musk called OpenAI a “misappropriation of a charitable organization.”
In response, OpenAI said Musk was always aware th
1 minutes ago
Iranian President: Iran No Longer Trusts the United States
April 30 (Reuters) - Iranian President Ebrahim Raisi told Belarusian counterpart Alexander Lukashenko in a phone call on April 30 that Iran has "completely lost trust" in the United States, according to Iranian media reports.
Raisi noted resolving disputes through dialogue and diplomacy has always been a priority for Iran. However, he said the U.S. and Israel carried out two attacks on Iran during past negotiations, adding similar actions could happen again — a development he cited as the reason for Iran’s lost trust in the U.S.
1 minutes ago
App Store
Profile
Security
Sign Out
Feeds
Articles
Source
Add to Favorites
Download image
Share x
Copy link
