OKX integrates BitGo off-exchange settlement for US institutions, reducing pre-funding requirements and marking a key step in its US expansion following ICE investment. Cryptocurrency exchange OKX is accelerating its push into the United States by rolling out off-exchange settlement for its US institutional clients. OKX has integrated the Off-Exchange Settlement (OES) platform by publicly listed digital asset custodian BitGo, the company said Thursday in an announcement shared with Cointelegraph. The integration enables institutional clients to trade on OKX while keeping assets secured in BitGo’s cold custody, aiming to eliminate pre-funding requirements and improve capital efficiency. Read more
The wallet linked to the Kelp DAO exploit appears to have laundered most of the $175 million worth of stolen Ether, while another $71 million remains frozen by Arbitrum’s security council. The exploiter behind the roughly $293 million Kelp DAO hack appears to have laundered nearly all of the unfrozen Ether stolen in the attack, narrowing recovery efforts to the tranche Arbitrum’s security council managed to freeze. The Kelp Dao hacker appears to have laundered nearly all of the 75,700 Ether (ETH) stolen from the protocol on Saturday. The hacker primarily used the THORChain to swap the Ether for Bitcoin (BTC), generating about $910,000 in fee revenue for the protocol, according to blockchain analyst EmberCN in a Thursday X post. The attacker began moving the funds on Tuesday, sending roughly 75,700 ETH, worth about $175 million at the time, into newly created wallets before routing the assets through THORChain and privacy protocol Umbra. Arkham data showed the attacker’s tagged main wallet had been largely emp...
Flying Tulip said its withdrawal safeguard is designed to fail open, while a status page lets users monitor the system in real time. Flying Tulip, a decentralized finance (DeFi) platform founded by DeFi developer Andre Cronje, has added a circuit breaker that can delay or queue withdrawals during abnormal outflows, as April DeFi losses climbed amid a string of major exploits. According to Flying Tulip’s documentation, the mechanism is designed to slow funds leaving the protocol if outflow capacity is exceeded, giving the team time to investigate suspicious activity and limiting how much an attacker could drain in a worst-case scenario. Flying Tulip said the circuit breaker works differently across products. In the first version of the circuit breaker, used in its Perpetual PUT product, withdrawals can revert and users must retry later. In the second version, used in Flying Tulip’s stable asset and settlement currency, ftUSD, withdrawals are queued and become claimable after a delay instead of being rejected ...
US-listed spot Bitcoin ETFs recorded a seven-day inflow streak totaling $1.9 billion, surpassing their March run over a similar period. US-listed spot Bitcoin exchange-traded funds (ETFs) have been gaining momentum amid Bitcoin’s price recovery, showing steady inflows since mid-April. Spot Bitcoin (BTC) ETFs logged $335.8 million in inflows on Wednesday, marking the seventh consecutive day of inflows, according to Farside data. During the inflow streak, the ETFs drew around $1.9 billion in total inflows, surpassing the previous seven-day inflow streak in March, which totaled $1.2 billion. Read more