Hackers and threat actors continue to infiltrate companies, blockchain projects and Web3 firms by exploiting remote work arrangements. Hackers posing as legitimate information technology (IT) workers who have infiltrated Web3 projects have stolen roughly $1 million in crypto during the past week, according to onchain investigator and cybersecurity analyst ZackXBT. Several entities were impacted including Favrr, a Web3 fan-token marketplace, non-fungible token (NFT) projects Replicandy and ChainSaw, along with other teams the onchain sleuth did not name in his Friday X post. The hackers exploited the minting mechanism for the NFT projects, minting mass quantities of NFTs, selling them, and causing the price floor to drop to zero while they extracted profit, ZackXBT said. Read more
Zohran Mamdani defeated Andrew Cuomo in the Democratic primary for New York City’s mayoral election, but he’ll be competing in a field where digital assets could be an issue. Zohran Mamdani, the Democratic Party candidate for New York City mayor, will be facing a field of candidates in November, including those who have previously taken firm positions on crypto and blockchain. On Tuesday, Mamdani defeated former New York Governor Andrew Cuomo with 43.5% of the vote in New York City’s Democratic primary. The victory will put the New York State Assembly member in competition with Republican candidate Curtis Sliwa, current NYC Mayor Eric Adams, and Cuomo, who reportedly will be running as an independent candidate following the primary loss. With the exception of Mamdani, all major candidates have previously held positions favoring the cryptocurrency industry. Read more
Solana increased its DEX market share and moved ahead of Ethereum, but will SOL price follow anytime soon? Key takeaways: Solana's DEX volume surpassed Ethereum’s, but overall activity remains far below the levels seen in January. Hyperliquid's dominance in perpetual futures trading weakens investors’ confidence in Solana’s long-term lead. Read more