Binance hackers step up money laundering activities, with 12 million TRX tokens transferred and further split.

Privacy blockchain project Iron Fish announced it will formally end all remaining support for the Iron Fish network later today, and archive its code repository after fixing the underlying vulnerability. The team said it previously detected abnormal activity involving the wIRON token and ChainPort cross-chain bridge. After collaborating with ChainPort to review logs, the issue was confirmed to stem from an inflation vulnerability in the Iron Fish blockchain itself, with its root cause traced to a code commit in the Merkle Tree implementation from early 2019. A flaw in the nullifier calculation mechanism for transaction notes allowed attackers to double-spend the same asset, then aggregate the related assets and transfer funds out via the ChainPort cross-chain bridge. The team added that this code path had been subject to both internal and external audits, yet the vulnerability remained undetected. Iron Fish has now submitted a vulnerability fix patch and attached a detailed post-mortem analysis report in the relevant pull request (PR), and will subsequently close and archive its code repository. The project also warned that most crypto networks cannot upgrade their code immediately, and are facing growing security risks. As the ability to discover and exploit complex code vulnerabilities becomes more widespread, the security protection pressure on blockchain projects is rising.

According to Farside's monitoring, U.S. spot Bitcoin ETFs recorded a net outflow of $643.2 million yesterday, ending four consecutive trading days of net inflows. Over the same period, Ethereum ETFs saw a net outflow of $155.7 million, marking five straight trading days of net outflows.

Binance is buying back the stolen assets through market channels and OTC deals. Over the past 8 hours, Ethena(@ethena) has deposited 128.63M $ENA ($24M) into #Binance.

S&P Global Ratings has revised Meta’s credit rating outlook from stable to negative, citing rising uncertainty driven by the company’s high capital expenditures. The rating agency said it projects Meta will rely solely on debt financing by 2028 to cover its projected free operating cash flow (FOCF) shortfall. The outlook adjustment reflects market concerns that Meta’s expanding capital outlays—especially investments in AI infrastructure—could pressure its cash flow and financial health.

Whales are dumping $HYPE! Wallet 0x2685 sold 912,383 $HYPE ($82.09M) 6 hours ago, which it bought a month ago, making over $10M in profit. Wallet 0x648F sold 296,705 $HYPE ($26.72M) 8 hours ago, which it bought 11 months ago, making $16.5M in profit.

Patriarch Chairman Eric Schiffer warns that Binance’s $6.3 billion hack may signal a larger wave of cyberattacks, noting that as artificial intelligence capabilities continue to advance, enterprises will face increasingly complex cybersecurity threats. “The bloodbath of AI-driven cyberattacks is still ahead, with more losses to come,” he stated. Schiffer argues the incident underscores the cybersecurity challenges facing large financial institutions, adding that companies can no longer treat cybersecurity as a problem to resolve only after an attack occurs. He expects Binance will restore its financial position via its balance sheet, but the event may erode user trust, leading some asset holders to exit the platform. Binance has set aside more than $6.34 billion in corporate funds to cover losses: roughly $5 billion in equivalent assets are already available, while approximately $3 billion in stolen assets have been frozen on-chain. TRM Labs attributes the attack to North Korea-state-backed hacking group TraderTraitor, confirming that around $6.36 billion in assets were transferred across 10 blockchains, with most of the transfers taking place in roughly 20 minutes. The U.S. Secret Service is working with the private sector to track and recover the funds.