What to know:
This article is featured in the latest issue of The Protocol, our weekly newsletter that explores the tech behind crypto, one block at a time. Sign up here to receive it every Wednesday.
Welcome to The Protocol, CoinDesk’s weekly wrap of essential stories in cryptocurrency tech development. Here’s what we covered:
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SwissBorg’s SOL Earn Wallet Exploited for $41.5M After Partner’s API Is Compromised SwissBorg reported a theft of approximately 192,600 SOL, valued at $41.5 million, traced back to a compromised application programming interface (API) linked to a partner. This event does not affect the security of the SwissBorg platform directly and impacts fewer than 1% of their users.
All other funds and user balances remain secure as recovery efforts are in process, including collaborating with white-hat hackers and law enforcement to reimburse affected users.
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Ledger CTO Warns of NPM Supply-Chain Attack
Charles Guillemet, Ledger’s CTO, cautioned about a widespread supply chain attack linked to a compromised developer’s NPM account, resulting in malicious code surreptitiously altering crypto wallet addresses in transactions. -
Backpack EU Launches Following FTX EU Acquisition
Backpack Exchange has officially activated its European division, operating under MiFID II regulations, enabling users to access crypto derivatives. -
Polygon PoS Experiences Transaction Delays
Users of Polygon’s proof-of-stake chain are facing delays as transaction finality runs behind schedule.
In Other News:
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World Liberty Financial Issues Blacklist on Justin Sun’s Address
World Liberty Financial has blacklisted Tron founder Justin Sun’s address, preventing him from transferring WLFI tokens. -
Ethena Proposes to Issue Hyperliquid’s Stablecoin
The decentralized finance protocol, Ethena, submitted a proposal to join the bidding for Hyperliquid’s forthcoming stablecoin.
Regulatory and Policy News:
- Nasdaq seeks regulatory approval to tokenize equities, following a similar trajectory aimed at blending traditional finance practices with blockchain technology.
- New White House crypto adviser, Patrick Witt, emphasizes urgency in advancing U.S. crypto policies.
