分类： Ripple

• Hackers drained over $5.5M from Garden Finance across chains.
• SEED token plunged 64% after the exploit triggered mass sell-offs.
• The DPRK-linked group “Dangerous Password” is suspected to be behind the hack.

Garden Finance has become the latest target of a major crypto heist, with hackers siphoning off at least $5.5 million across several blockchains.

The cross-chain bridge exploit has not only rattled investors but also reignited concerns about the security of decentralised finance (DeFi) infrastructure.

Bridge breach spreads across multiple chains

The attack on Garden Finance unfolded swiftly, draining millions in assets from multiple blockchains, including Arbitrum and Solana.

On-chain researcher ZachXBT was the first to identify the unauthorised withdrawals, noting that the losses could ultimately exceed $10 million once all affected chains are accounted for.

According to early reports, the attacker used the MetaMask router, a fast but costly swap tool, to immediately convert stolen tokens, which included wrapped ETH (wETH), wrapped Bitcoin (WBTC), Lombard-locked BTC, cbBTC, and SEED, Garden’s native token, to Ethereum (ETH).

🚨ALERT🚨Our system detected that @gardenfi has been hacked ~$6M across multiple chains.
Most of the stolen funds are in $WBTC, $USDC, $USDT and other digital assets.
However, most of the freezable assets are swapped to $ETH.
Team sent on-chain message to hacker offering 10%… pic.twitter.com/76YbG6aPK7

— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) October 30, 2025

The move prevented freezing or recovery efforts, as the assets were instantly dispersed through decentralised exchanges.

Garden Finance later confirmed the breach in an on-chain message, stating that its systems had been compromised across multiple networks.

The team offered a 10% white hat bounty to the hacker in exchange for returning the funds and disclosing the vulnerability.

But despite the offer, the attacker has not yet responded.

ZachXBT links the hack to a DPRK-backed group

Investigations led by ZachXBT and other blockchain analysts suggest that the DPRK-affiliated hacker collective “Dangerous Password” could be behind the exploit.

This group has been tied to several recent cross-chain incidents targeting smaller protocols with liquid, fast-swappable assets.

Just days before the Garden breach, ZachXBT accused the protocol of enabling money laundering, claiming that up to 25% of its total fund transfers were connected to previously stolen assets from the Bybit and Swissborg hacks.

Another security researcher, Tayvano, alleged that North Korean hackers had been using Garden’s bridge extensively to move illicit funds.

These findings have cast a shadow over the platform’s recent success.

Earlier this month, Garden Finance proudly announced it had bridged over $2 billion in tokens, but the revelation that a quarter of its traffic may have originated from illicit sources has severely damaged its reputation.

Interestingly, today’s incident carries a note of irony. Garden Finance, once accused of facilitating laundering, has now fallen victim to the very type of attack it was criticised for enabling.

Observers have drawn parallels with THORChain, which was similarly accused of aiding North Korean hackers before being targeted itself.

ZachXBT highlighted this irony in his investigation, stating that the Garden team had profited “high six figures” in fees from illicit transfers but failed to assist victims in past cases.

The exploit, he argued, was a harsh reminder of the risks faced by protocols that neglect compliance and transparency.

With damages estimated between $5.5 million and $10.8 million, and the SEED token in free fall, Garden Finance faces a long road to recovery.

And whether the hacker accepts the 10% bounty or vanishes with the funds, the exploit highlights the urgent need for stronger bridge security, real-time monitoring, and better cooperation between developers and blockchain investigators.

SEED token collapses amid panic

The fallout was immediate. As the hacker dumped stolen SEED tokens into illiquid pools on Uniswap, the price crashed by 64%, plunging to $0.1928 and shrinking its market capitalisation to $2.5 million.

And although the token has slightly recovered to around $0.23, it remains down 57% from yesterday’s close price.

The thin liquidity made the sell-off particularly devastating, eroding investor confidence and intensifying scrutiny of the protocol’s risk controls.

• Flutterwave has partnered with Polygon to enable fast, low-cost stablecoin payments.
• Pilot is scheduled to start before the end of 2025, expanding to consumers via the Send App in 2026.
• Verified merchants will benefit first, ensuring compliance and smooth adoption.

Flutterwave, one of Africa’s largest financial infrastructure providers, has announced a partnership with Polygon Labs to leverage blockchain technology for cross-border payments.

Fresh off the thrill of @money2020, we’re teaming up with @0xPolygon to make cross-border payments faster, cheaper & more accessible than ever!

With Polygon Proof of Stake (PoS) powering our new solution, businesses and individuals will soon be able to move money across borders… pic.twitter.com/7vmr88zy8e

— Flutterwave (@theflutterwave) October 30, 2025

Stablecoins at the heart of the partnership

Under the multi-year collaboration, Polygon will become Flutterwave’s default blockchain network, powering a new cross-border payments product designed around stablecoins.

These digital currencies, pegged to traditional fiat currencies like the US dollar, are expected to streamline international payments by reducing the inefficiencies that have long plagued Africa’s $2 trillion cross-border market.

For many businesses, settlement can take several days, and fees often exceed 8%, creating significant operational challenges.

Flutterwave plans to pilot the new system in 2025 with a select group of verified merchants, before rolling it out more broadly to enterprises and consumers through its Send App in 2026.

The initial rollout will prioritise global corporations such as Uber and Audiomack, which already rely on Flutterwave’s existing payment infrastructure, while subsequent phases aim to bring the benefits of blockchain-powered stablecoins to millions of everyday users.

The partnership also positions Africa alongside other regions where Polygon is already enabling major fintech innovations, including Europe and Asia.

With over a hundred fintech companies globally using Polygon to move money efficiently, Flutterwave’s adoption of the network demonstrates the continent’s growing embrace of blockchain technology for real-world commerce.

For Flutterwave, this initiative represents more than a technological upgrade; it aligns with the company’s broader mission to simplify international payments for African businesses.

CEO Olugbenga “GB” Agboola explained that by making cross-border transactions faster, cheaper, and more accessible, the collaboration sets a new standard for financial inclusion while providing a scalable solution for global commerce.

Faster, cheaper cross-border payments

By integrating Polygon’s high-performance blockchain, Flutterwave aims to cut both costs and settlement times dramatically.

Transaction fees on Polygon are typically fractions of a cent, and settlements can occur in near real-time.

Marc Boiron, CEO of Polygon Labs, highlighted the significance of this development, noting that stablecoins on Polygon can transform settlement periods from days into seconds and reduce fees from percentages into mere pennies.

This partnership not only reduces operational friction but also strengthens financial inclusion by making cross-border payments affordable and reliable.

For small merchants in Lagos, Nairobi, or Johannesburg, as well as individuals sending remittances, the technology promises to make previously cumbersome financial processes simpler and faster.

Regulatory compliance

Flutterwave is taking a cautious approach to regulatory compliance, initially limiting the stablecoin service to verified merchants who meet enhanced Know Your Customer (KYC) and Know Your Business (KYB) standards.

Vincent Yang, Flutterwave’s Senior Product Manager for Stablecoins and Cryptocurrency, emphasised that the company is working closely with regulators to ensure that the service launches only in markets with appropriate regulatory support.

The integration is designed to be seamless for merchants, requiring no technical changes to Flutterwave’s existing API.

This approach allows businesses to access the new payment options without disruption, embedding blockchain capabilities into familiar systems rather than replacing them entirely.

Key takeaways

• Ether is down 2% in the last 24 hours and is now trading below $4k.
• The bearish performance comes after Wednesday’s FOMC.

Ether drops below $4k on FOMC news

Ether, the second-largest cryptocurrency by market cap, has turned bearish after losing 2% of its value in the last 24 hours. The bearish performance saw Ether temporarily drop to the $3,800 mark, but it is now approaching $4k.

Yesterday’s sell pressure came after the FOMC meeting, with the Federal Reserve cutting interest rates by 25 basis points. However, Fed Chair Jerome Powell revealed that the apex bank will end quantitative tightening on December 1st. 

This means that the Fed will reduce the financial assets it holds on its balance sheet by selling them into the financial markets, which decreases asset prices and raises interest rates. With this, it is highly unlikely that the Fed will cut interest rates in its next FOMC meeting in December.

Ethereum’s Fusaka upgrade, slated to bring increased scalability and security improvements, successfully debuted on Hoodi on Tuesday, the third and final testnet before mainnet launch. This launch didn’t push ETH’s price higher in the near term due to the broader crypto market volatility. 

ETH could bounce back above $4,200 soon

The ETH/USD 4-hour chart remains bearish and efficient as Ether is down 2% in the last 24 hours. It is now trading at $3,939 per coin and could rally higher in the near term. 

 

The technical indicators remain bearish but are showing signs of recovery following the recent dip. The RSI of 46 shows that the bearish trend is fading, with the bulls set to push its price higher over the next few hours and days. The MACD lines are also within the negative territory after flashing a sell signal on Wednesday.  

If the recovery continues, ETH could reclaim the resistance level at $4,232 over the next few hours or days. An extended rally would allow ETH to hit the 4-hour ILQ at $4,409. However, failure to climb above $4,200 in the near term could see ETH retest the $3,800 low in the coming hours or days.

• Fight Fight Fight LLC is reportedly planning to purchase Republic’s US operations.
• The deal might enrich the meme’s utility in payment apps and startup fundraising.
• $TRUMP traders are enjoying profits amidst the rebound.

Bearish sentiments gripped the cryptocurrency market today as Bitcoin plunged below $110,000.

While the 2% decline in global market capitalisation confirms broader weakness, the Official Trump meme token maintained a bullish 24-hour chart.

The meme crypto extended its weekly gains to over 40% after rallying 13% the previous day.

$TRUMP continued its rally after news emerged that the company behind the project, Fight Fight Fight LLC, plans to acquire the US operations of a leading crowdfunding and investment platform, Republic.

🚨 BREAKING 🚨
TRUMP TOKEN ISSUER FIGHT FIGHT FIGHT LLC IN TALKS TO ACQUIRE CROWDFUNDING PLATFORM https://t.co/N2R0nezMy6‘S US OPERATIONS, BLOOMBERG REPORTS.
💥 BIG MOVE COMING! 💥#Trump #Republic #BusinessDeal #Crowdfunding #FightFightFightLLC pic.twitter.com/ObsNtML26s

— Crypto News Hunters 🎯 (@CryptoNewsHntrs) October 30, 2025

The news stirred the digital assets community, propelling the politically charged altcoin over the last 24 hours.

What started as a satirical token tied to the US president could be evolving into a financial product that experiments with the combination of real-world finance, blockchain fundraising, and politics.

Notably, Republic offers retail and institutional investors streamlined access to startup fundraising, RWAs, and tokenised investments.

Integrating Official Trump into Republic’s ecosystem could merge meme crypto enthusiasm and real-world blockchain use cases.

Imagine investing in a themed token that funds startups, backs innovative ventures, or even supports online payments.

$TRUMP eyes real-world utility with the Republic deal

If successful, the strategic acquisition would enable Fight Fight Fight LLC to control Republic’s robust crowdfunding ecosystem.

The meme coin will possibly leverage Republic’s reputation to gain legitimacy and credibility.

Such perks can attract more investors and partnerships.

Republic’s role in fueling blockchain adoption

Republic has been vital in supporting cryptocurrency’s mainstream acceptance.

It focuses on inclusive investment models and tokenisation, allowing individuals to own fractions of real-world assets previously restricted to wealthy investors and venture capitalists.

Now, Fight Fight Fight LLC wants to gain control of Republic’s operations in the United States.

Besides boosted exposure, the deal could mean access to a regulatory ecosystem, a significant user base, and a bridge between fast-moving meme culture and traditional finance.

$TRUMP price outlook

The digital asset is trading at $8.20 after a brief correction from daily peaks.

Its daily trading volume has increased by more than 35% to $2.6 billion.

Rising volumes amid bullish price actions signal trader optimism and possibilities of continued rallies.

$TRUMP has gained over 41% the previous week, and bulls seem ready to push for more.

Moreover, prevailing whale activity suggests confidence in $TRUMP’s performance.

For instance, one trader is dominating Hyperliquid and Solana platforms with substantial bets on the meme token.

According to Lookonchain, this participant spent 5,346 Solana tokens, worth around $1.07 million, to buy 165,401 TRUMP coins on the SOL blockchain.

He entered at roughly $6.45, and is now cheering approximately $335,000 unrealized profit.

The same investor deposited $485,669 in USDC into the perp DEX Hyperliquid.

Here, the player used maximum leverage for a $9.5 million long position.

As of this writing, the trader sat on roughly $1.18 million in unrealized gains, bringing his total returns to $1.5 million.

Has $TRUMP started moving? 👀

Someone created new wallets to buy $TRUMP spot on #Solana while also going long on $TRUMP on #Hyperliquid — already sitting on over $1.5M in profit!

• On Solana, he spent 5,346 $SOL($1.07M) to buy 165,401 $TRUMP ($1.4M) at $6.45, with $335K in… pic.twitter.com/RLXEs1g0Mt

— Lookonchain (@lookonchain) October 30, 2025

The latest whale activity paints an optimistic picture for Official Trump in the near term.

Corporate expansion developments and the excitement around the alt as Donald Trump discusses a trade deal with China’s Xi Jinping has formed a mix of momentum and hype.

 

• Thopen plans to use surplus solar energy for Bitcoin mining.
• The move could cut curtailment losses and boost grid stability.
• Brazil may emerge as a leader in sustainable crypto mining.

Brazilian solar energy firm Thopen is considering a bold new move to address one of the country’s most pressing renewable energy challenges of excess electricity generation.

The company plans to explore Bitcoin mining as a way to convert surplus solar energy into a profitable and sustainable business model.

Turning surplus energy into digital gold

Brazil’s rapid expansion of solar and wind power has brought both opportunities and challenges.

While the country now generates abundant clean energy, transmission bottlenecks and limited local demand have resulted in an oversupply in several regions.

This surplus often leads to energy curtailment, where producers are forced to reduce output, causing financial losses.

Thopen’s CEO, Gustavo Ribeiro, has acknowledged this growing concern and revealed that the company is studying ways to transform the problem into an advantage.

During an interview with BN Americas, Ribeiro explained that Thopen is considering setting up Bitcoin mining operations and data centers near its energy generation sites.

The goal, Ribeiro said, is to “convert energy into capital” — a strategy that could help absorb excess electricity, stabilize local supply, and ensure that renewable power is not wasted.

A breakthrough for Brazil’s renewable energy sector

The proposal comes at a time when Brazil’s renewable energy industry is facing limits on the amount of solar power it can feed into the grid.

By channeling surplus electricity into Bitcoin mining, Thopen aims to reduce curtailment losses and create a steady revenue stream.

Analysts note that this integration of renewable energy and digital mining could offer a flexible, scalable solution for the nation’s energy sector.

Similar models are emerging across the globe.

In the United Kingdom, Union Jack Oil has begun converting excess natural gas into electricity to power Bitcoin mining operations.

In Canada, AgriFORCE Growing Systems announced plans to use stranded gas to run mining rigs.

Thopen’s venture could position Brazil as the next country to merge clean energy with crypto mining on a large scale, showcasing an innovative way to monetize renewable resources.

Sustainable Bitcoin mining and grid stability

One of the most promising aspects of Thopen’s strategy is its potential to improve both environmental and economic outcomes.

Using surplus renewable power for Bitcoin mining eliminates the need for fossil fuel-based energy, significantly reducing the carbon footprint of the process.

It also provides solar farms with a new income source, turning what would otherwise be wasted electricity into a productive asset.

Experts say this model can also enhance grid stability.

When power generation exceeds demand, mining operations can consume the surplus, balancing the system and preventing instability.

During low-output periods, operations can scale down, allowing electricity to flow back to the grid when it is needed most.

This flexibility makes Bitcoin mining an ideal companion to variable renewable sources like solar and wind.

The challenges and opportunities ahead

Despite its potential, Thopen’s plan is not without obstacles.

Brazil’s regulatory framework for cryptocurrency and energy integration remains under development.

Companies venturing into this space must navigate evolving policies, infrastructure demands, and the volatility of the crypto market.

However, industry observers believe that the benefits far outweigh the risks.

Ribeiro’s vision aligns with Brazil’s broader renewable energy goals — promoting efficiency, innovation, and sustainable economic growth.

If successful, Thopen’s approach could reshape how nations handle renewable energy surpluses, offering a model that is both profitable and environmentally sound.

• Crypto firms offering financial products must obtain an AFSL by 30 June.
• Bitcoin and NFTs are said to be excluded from the financial product category.
• The Treasury has finished consultations on new crypto legislation.

Australia has tightened its regulatory framework for digital assets, introducing updated guidelines that define how crypto service providers will be classified and licensed.

The Australian Securities and Investments Commission (ASIC) announced revisions to its Information Sheet 225.

Firms offering services tied to financial products will now need to apply for an Australian Financial Services License (AFSL) and join the Australian Financial Complaints Authority by June 30.

The updated document aims to streamline compliance requirements, strengthen investor protection, and bring digital asset providers under the same regulatory standards as traditional financial institutions.

This marks a significant shift in Australia’s approach to overseeing crypto-related businesses and ensuring greater market transparency.

The move aims to bring greater oversight to the rapidly evolving crypto industry while maintaining flexibility for tokens like Bitcoin, which will not be treated as financial products under the new guidance.

Bitcoin excluded, but stablecoins under scrutiny

Under the revised guidelines, ASIC clarified that cryptocurrencies such as Bitcoin, gaming non-fungible tokens (NFTs), and tokenised event tickets do not fall under the financial product category.

However, stablecoins, wrapped tokens, tokenised securities, and yield-bearing products like staking services and tokenised real estate will require licensing.

ASIC also confirmed in-principle regulatory relief for stablecoin and wrapped token distributors to help transition into compliance ahead of broader legislative reforms.

The updated framework outlines that services offering financial returns or lock-up periods will be classified as financial products, ensuring investors in yield-based assets are protected under existing finance laws.

Industry welcomes clarity but warns of implementation challenges

The update has been broadly welcomed across the blockchain sector for providing long-awaited clarity.

Industry groups and legal experts said the move provides visibility on ASIC’s approach to regulating the digital asset ecosystem.

However, they warned that the transition could create logistical hurdles due to limited local expertise, banking restrictions, and insurance access.

Blockchain APAC’s CEO noted that ASIC’s approach of implementing policy ahead of final legislation brings short-term certainty but also leaves room for interpretation.

These “structural bottlenecks,” including resource and compliance constraints, could shift risks from legal to operational levels if not addressed promptly.

Transition underway as crypto firms prepare for licensing

Industry players are now restructuring their operations to align with the new rules.

The Digital Economy Council of Australia called the update a significant step toward mainstream regulation but expressed concern about ASIC’s capacity to process a large volume of licensing applications in time.

The move follows the Albanese government’s proposal in March for a unified framework that places crypto exchanges under existing financial services laws.

The Treasury concluded consultations last week on draft legislation that would formalise this transition, further aligning Australia’s crypto oversight with global regulatory trends.

The update marks a turning point for Australia’s digital asset market, setting a roadmap for compliance while signalling the government’s intention to balance innovation with investor protection.

• GIP-140 revamps GnosisDAO voting with on-chain and beacon data.
• GNO price dips amid profit-taking and technical resistance.
• Liquidity limits and stablecoin rules may influence short-term sentiment.

The Gnosis price has experienced modest volatility following the passing of the GnosisDAO GIP-140 proposal, a major governance update aimed at overhauling the platform’s voting mechanisms.

The GIP-140 initiative replaces the current subgraph-based GNO strategy with a suite of strategies that read blockchain state directly from both the execution and beacon layers.

The proposal’s approval marks a significant step toward enhancing the accuracy and reliability of Snapshot voting while adding support for StakeWise tokens and reducing dependency on external data providers.

GIP-140: revamping voting for accuracy and inclusion

GIP-140’s passage reflects a broad consensus among GnosisDAO participants, with 82 votes cast, overwhelmingly in favour of the measure.

The core objective is to eliminate the subgraph dependency, which has historically caused delays and inaccuracies in voting power calculations.

The new system attributes voting power to GNO balances across both the Gnosis Chain and Ethereum, locked GNO holdings, validator balances, and StakeWise’s sGNO and osGNO tokens.

By pulling data directly from on-chain and beacon chain sources, the proposal seeks to create a more robust and transparent voting environment that can better reflect actual stakeholder influence.

The technical implementation involves updating Snapshot’s configuration via a SafeSnap transaction, pointing to aggregator contracts deployed on both Gnosis Chain and Ethereum, as well as a new beacon-chain strategy for staked GNO.

Delegation mechanisms have also been updated to integrate these new sources, ensuring a seamless transition for DAO members accustomed to existing workflows.

The changes position GnosisDAO to handle complex governance requirements while reducing reliance on third-party indexers like The Graph, which previously introduced inconsistencies.

Gnosis price enters consolidation amid profit-taking

Surprisingly, following the approval of GIP-140, the Gnosis price has seen a slight pullback, falling 0.89% over the past 24 hours and underperforming the broader crypto market, which gained 0.06%.

The price movement aligns with profit-taking behaviour after GNO achieved a 7.98% weekly gain and an 8.3% rise during October.

Technical indicators suggest the market is testing resistance around the 30-day simple moving average of $137.93 and the 61.8% Fibonacci retracement level at $138.47.

While the RSI remains neutral at 53.42, a bearish divergence in the MACD hints at potential short-term consolidation.

In addition, liquidity pressures stemming from CoinDCX’s June 2025 delisting continue to weigh on GNO trading activity.

Despite being months old, the delisting reduced retail access to the token, and the 24-hour turnover ratio of 1.08% remains relatively low compared with broader DeFi sector averages.

Regulatory uncertainties surrounding stablecoins, particularly the relaunch of USDS under the stricter US GENIUS Act, may also indirectly influence sentiment toward Gnosis Chain assets.

Nevertheless, milestones like Gnosis Pay’s $100 million transaction volume suggest that ecosystem adoption could counterbalance some of these headwinds.

Looking ahead

The combination of technical consolidation, lingering liquidity constraints, and regulatory considerations creates a cautious but watchful environment for Gnosis price movements.

Holding the $135–$137 zone could provide the stability needed for renewed momentum, particularly as GnosisDAO’s upgraded Snapshot strategies begin to reflect more accurate voting power across multiple token types.

In the coming weeks, the Gnosis price may respond to both market dynamics and the tangible impact of GIP-140’s execution, particularly if the changes enhance voting accuracy and encourage broader participation in the DAO.

For now, the community appears aligned, and the successful passage of GIP-140 represents a meaningful milestone that could shape GNO’s trajectory in both governance and market performance.