Autor Cointelegraph by Nate Kostar

Unverified smart contracts were linked to at least $36.7 million in losses across four DeFi exploits over the past six months, as attackers increasingly target protocols whose source code is not publicly available, according to Chainalysis.The largest incident involved Truebit, which lost $26.2 million after an attacker exploited an integer overflow vulnerability in a contract that had remained unverified on Ethereum since 2021. The other incidents involved Trusted Volumes, Aperture Finance and Ekubo, according to the report.In each case, the exploited contract had not been verified on a blockchain explorer, meaning its source code was not publicly available for review. According to Chainalysis, that limited scrutiny from security researchers and excluded the contracts from many bug bounty programs despite controlling user funds.Five protocols saw exploits on unverified smart contracts. Source: ChainalysisChainalysis attributed the trend in part to advances in decompilation tools and artificial intelligence, which can help attackers reverse-engineer smart contract bytecode and identify vulnerabilities even when source code is not publicly available. According to the report, what once required “a skilled reverse engineer spending days on a single contract” can now be partially automated across large numbers of unverified contracts.The report challenges a longstanding assumption in DeFi that keeping smart contract code private provides an additional layer of security. According to Chainalysis, protocols relying on hidden code are increasingly depending on “obscurity as a security measure,” an approach the company said is rapidly losing effectiveness. Chainalysis recommended source code verification, broader bug bounty coverage and real-time monitoring tools as safeguards against future exploits.Related: Humanity Protocol token falls 85% amid $30M private key exploitDeFi security concerns persist after record April lossesThe report comes amid a broader rise in crypto exploits. According to DeFiLlama, hackers stole $629.7 million in April alone, the highest monthly total since February 2025.Two incidents accounted for most of the losses. KelpDAO lost $293 million and Drift Protocol suffered a $280 million exploit, together representing more than 80% of the month’s stolen funds.Although losses fell sharply in May, with CertiK reporting $68.3 million stolen from cryptocurrency exploits, the fallout from April’s largest attacks continued. In June, blockchain intelligence platform Arkham reported that the attacker behind the KelpDAO exploit had laundered nearly all of the roughly $220 million in unfrozen stolen funds.Kelp DAO Hacker-tagged wallet, total balance. Source: ArkhamThe KelpDAO exploit also prompted several DeFi protocols to review their security infrastructure, with projects including Solv Protocol announcing plans to migrate to Chainlink’s crosschain infrastructure following internal security reviews.This month, Anthropic said 560 of the 832 accounts it banned for policy violations over a one-year period had used AI to help prepare cyberattacks, including writing malware and identifying vulnerabilities.Magazine: The legal battle over who can claim DeFi’s stolen millions

Bybit is joining a growing list of crypto exchange platforms allowing eligible users to subscribe to tokenized shares in US initial public offerings at the offering price, beginning with a SpaceX listing through the xStocks framework.Kraken parent Payward Services’ xStocks framework aggregates investor demand across partner platforms and works with underwriting syndicates to secure IPO allocations before tokenizing the shares.Eligible users can register interest and submit subscription requests for tokenized IPO shares through Bybit, with allocations distributed on a pro-rata basis and unused funds refunded if demand exceeds available shares. SpaceX will be the first offering, with tokenized shares scheduled to begin trading on Bybit’s spot market on June 12.On listing day, allocated shares are tokenized and backed 1:1 by underlying equity held in regulated broker-dealer custody, according to Bybit.According to RWA.xyz data, xStocks is the second-largest tokenized stock platform by value, with roughly $415 million in tokenized equities and a 28% share of the market.Source: RWA.xyzKraken on Friday named SpaceX as the inaugural offering for the platform’s xStocks IPO Access product, which is available in more than 110 markets but excludes users in the United States, Canada, Australia and the United Kingdom due to regulatory restrictions.A day earlier, Coinbase launched a SpaceX pre-IPO market that gives eligible users outside the US exposure to the company’s private-market valuation through perpetual futures contracts.Source: Bybit Related: Bybit Pay enters South Africa through MoneyBadger integrationSpaceX targets record-breaking public debutFounded by Elon Musk in 2002, SpaceX is a private aerospace company best known for its Falcon launch vehicles, Dragon spacecraft and Starlink satellite internet network. The company filed confidentially for an initial public offering with the US Securities and Exchange Commission in April. The filing came two months after SpaceX acquired Musk’s artificial intelligence startup xAI, expanding the aerospace company’s presence in the AI sector.Demand for the offering has reportedly exceeded available shares ahead of SpaceX’s planned June 12 public debut. Bloomberg reported that the company is targeting a valuation of at least $1.8 trillion and a roughly $75 billion raise, which would make it the largest IPO on record.SpaceX’s May 20 S-1 registration statement also disclosed holdings of 18,712 Bitcoin, enough to place the company among the 10 largest corporate Bitcoin (BTC) holders, ahead of firms including Coinbase and Riot Platforms, according to BitcoinTreasuries data.Top 15 Bitcoin treasury companies. Source: BitcoinTreasuries.NETMagazine: Korea probes Polymarket users, crypto PACs sweep primaries: Hodler’s Digest, May 31- June 6

Bitmine Immersion Technologies increased its Ether holdings to 5.54 million ETH after acquiring nearly 127,000 tokens over the past week, bringing its treasury to 4.59% of Ethereum’s total supply.The company said it has now reached 92% of its stated goal of acquiring 5% of Ethereum’s total supply, a strategy it calls the “Alchemy of 5%.” It added that 4.72 million ETH (ETH), or about 85% of its holdings, are currently staked through validator infrastructure, worth roughly $7.7 billion at current prices.Bitmine projected $230 million in annualized staking revenue from its current staked ETH position, with rewards potentially rising to $270 million if its holdings are fully staked through MAVAN and other staking partners.Despite the broader crypto market pullback, Bitmine Chairman Tom Lee said advances in artificial intelligence could increase demand for public blockchains such as Ethereum (ETH), which he described as a “reliable decentralized” blockchain.The global crypto market cap stands at $2.19 trillion, according to CoinMarketCap data at time of publication. That’s down from $2.69 trillion on May 9.As of June 7, Bitmine held 5,543,872 ETH and 204 Bitcoin (BTC), along with $247 million in cash and equity stakes in Beast Industries and Eightco Holdings.According to CoinGecko data, Bitmine ranks as the largest Ether treasury company among 32 public entities tracked by the platform. Its 5.54 million ETH holdings are more than six times larger than those of second-ranked SharpLink, which holds 868,699 ETH.Top Ethereum treasury companies. Source: CoinGeckoBitmine shares rose more than 6% on Monday following the announcement, though the stock remains down around 38% year-to-date, according to Yahoo Finance data. The company had a market capitalization of about $9.59 billion.Source: Yahoo FinanceRelated: ETH falls to 13-month low on Zcash bug, Bitcoin below $60K: Is $1.4K next?Ether faces pressure despite Bitmine’s continued accumulation It has been a difficult year for Ether, the second-largest cryptocurrency by market capitalization, even as Bitmine aggressively expands its treasury. CoinGecko data shows ETH is down more than 43% year-to-date, falling from above $3,000 in January to about $1,685 on Monday.Source: CoinGeckoSome large holders have reduced their exposure during the downturn. In May, the Ethereum Foundation sold 20,000 ETH through two over-the-counter transactions worth about $46.8 million combined. The sales followed an earlier 5,000 ETH deal in March, bringing the foundation’s total ETH sold this year to 25,000 ETH.The cryptocurrency’s weak price performance has also prompted some long-time Ethereum supporters to reassess their investment outlook. In May, Bankless co-founder David Hoffman said he had sold the remainder of his Ether holdings, arguing that the long-standing “ETH is Money” thesis had largely played out.Hoffman said he remains bullish on Ethereum as a network but believes much of its future growth may not be reflected in the token itself. He said that layer-2 networks and other ecosystem participants capture a significant share of the economic value generated on the blockchain.Magazine: Bitcoin copying 2022 ‘almost perfectly,’ Ether to $4K in 2026: Market Moves

MetaMask launched a self-custodial cryptocurrency wallet that allows artificial intelligence agents to transact across decentralized finance protocols within user-defined spending and security controls.Users can connect the Agent Wallet to AI agent frameworks and authorize software agents to operate within protocol allowlists. The wallet is compatible with frameworks including OpenAI Codex, Claude Code, OpenClaw and Hermes, according to MetaMask.MetaMask said transactions initiated by AI agents are screened through transaction simulation, threat detection and MEV protection systems before execution. Transactions flagged as malicious or outside a user’s predefined rules require manual approval.Source: MetaMask The wallet supports token swaps, perpetual futures trading, prediction markets and liquidity provision across Ethereum-compatible networks and Hyperliquid. MetaMask said transactions deemed safe by its security systems are covered by up to $10,000 in loss protection.The product is currently available to a limited group of users through an early access program, with broader availability planned later this summer.Related: MetaMask co-founder Dan Finlay leaves Consensys after 10 yearsIndustry interest grows in AI-powered transactionsCryptocurrency companies are rushing to build infrastructure that allows AI agents to manage digital assets and make payments autonomously.In February, Coinbase introduced Agentic Wallets, which allow AI agents to spend, earn and trade cryptos while interacting autonomously with onchain applications. In May, Fireblocks launched Agentic Payments Suite, a platform designed to help AI agents send and receive stablecoin payments through Coinbase’s x402 protocol.Cumulative agentic transfer volumes on Base. Source: ChainalysisAI-driven payment activity appears to be gaining traction quickly. A June 3 Chainalysis report found that wallets using Coinbase’s x402 agent payment protocol generated more than 100 million transactions on Base within roughly nine months of launch.The push extends beyond the crypto industry. In April, Visa launched Intelligent Commerce Connect, a platform that allows artificial intelligence agents to browse, select and pay for goods on behalf of consumers.The growing interest has prompted bullish forecasts from crypto executives. Circle CEO Jeremy Allaire said billions of AI agents could be transacting with cryptocurrencies and stablecoins within three to five years. Former Binance CEO Changpeng Zhao said that crypto will become the native payment rail for autonomous software.Magazine: Bitcoin miners are pivoting to AI, so why is the hashrate near ATHs?

Crossmint, a stablecoin and wallet infrastructure provider, launched an API that enables AI agents to make payments using eligible Visa credit and debit cards, bringing physical card-based transactions to agent platforms.According to Tuesday’s announcement, the service uses Visa Intelligent Commerce and Basis Theory’s payment infrastructure to allow AI agents to make purchases without access to users’ card numbers while operating within predefined spending limits.Crossmint said the payment capability is available through its lobster.cash tool, which can be connected to platforms including Claude Code, OpenClaw, Hermes and Zo Computer. Developers can immediately integrate the payment system through the company’s API and documentation.Crossmint co-founder Alfonso Gómez-Jordana told Cointelegraph the company’s broader payments infrastructure supports both card and stablecoin transactions. Unlike some competing systems that rely on newly issued virtual cards, he said Crossmint tokenizes users’ existing Visa cards, allowing customers to retain card rewards while authorizing spending by AI agents.”Developers building payment capabilities into agents have had no standardized way to handle card credentials, so many have resorted to workarounds that expose raw card numbers directly to the agent environment,” Gómez-Jordana said.He said Crossmint is also working with Mastercard and American Express to expand support for agentic card payments beyond Visa.Related: Liquid launches ChatGPT and Claude trading app with live market executionRacing to build human-absent agentic paymentsCrossmint’s launch is part of a broader effort to give AI agents the ability to hold funds, access services and complete transactions without direct human involvement.Crypto companies have been among the earliest movers. In February, Coinbase launched Agentic Wallets, allowing AI agents to hold, spend and trade cryptocurrency through the company’s x402 payments protocol. MoonPay followed in March with an open-source wallet framework designed to let AI agents manage crypto assets and transact across blockchain networks from a single wallet. In May, Circle launched a suite of tools that allows AI agents to hold wallets, discover services and make programmable payments using USDC.Traditional payment companies have also entered the market. Visa introduced its Visa CLI agent payments tool in March before launching Intelligent Commerce Connect, infrastructure designed to allow AI agents to make purchases through tokenized payment credentials and spending controls.Circle CEO Jeremy Allaire predicted earlier this year that billions of AI agents could eventually use stablecoins for payments, arguing that autonomous software would require its own financial infrastructure.Source: Cointelegraph Magazine: HYPE chases $100 target, ETH could dump below $1800: Market Moves