Upbit hit by a 30-million-dollar hack

South Korean exchange Upbit has suffered a major theft of approximately 30 million dollars, drained directly from one of its hot wallets operating on the Solana network. The attack was detected after a series of abnormal transactions, prompting the platform to immediately suspend withdrawals and transfers. This emergency response helped contain further losses but left millions of users in uncertainty while the situation was analyzed.

Authorities quickly turned their investigation toward the Lazarus Group, a hacking organization linked to North Korea and already responsible for several major attacks on the crypto industry. Early findings suggest internal compromise or targeted identity impersonation, a method strongly reminiscent of Upbit’s previous hack in 2019. The recurrence of such attacks raises serious concerns about exchanges’ ability to protect hot wallets against highly sophisticated, state-backed threat actors.

The timing fueled further speculation. The hack occurred only hours after the announcement of the acquisition of Dunamu, Upbit’s parent company, by a South Korean consortium. Some observers believe the incident may have been strategically launched to disrupt the deal or exploit the surrounding confusion. The stolen funds were rapidly moved to external wallets, likely fragmented, converted, and obfuscated using tools designed to break transaction traceability.

Upbit stated that all losses will be fully covered by the company’s reserves so that no user suffers financial impact. Still, the incident highlights vulnerabilities in exchange infrastructure and the urgent need to reinforce hot-wallet security. This latest breach may revive regulatory pressure in South Korea and beyond, in a sector where every technical weakness becomes an opportunity for increasingly prepared adversaries.

High Stakes: a Swiss validator aiming to democratize staking and Web3

Founded in 2021 and officially registered the following year, High Stakes aims to become one of the most visible Cosmos ecosystem validators and provide a simple, robust, and transparent access point to staking.

Based in Switzerland, the company built its reputation on a non-custodial approach: users keep full control over their funds in their own wallets, while High Stakes handles transaction validation only. This philosophy is increasingly appealing to investors seeking returns without entrusting their crypto to centralized platforms.

High Stakes supports a wide range of blockchains including ATOM, Akash, Injective, Secret Network, Band, Persistence, and more. Beyond traditional validation, the company offers full Web3 infrastructure services: dedicated nodes, APIs, public RPCs, cross-chain relayers, snapshots for fast upgrades, and more.

One of the core elements of the project is its IBEX loyalty program. Each delegator earns daily points based on the tokens staked. These points can later be converted into additional rewards, sometimes paid in ATOM or stablecoins, increasing overall yield. The system uses a formula designed to prevent extremely large wallets from dominating rewards and to maintain fair distribution. IBEX also allows users to grow their portfolio passively without manual intervention.

This combination of accessibility, advanced tooling, and a non-custodial philosophy positions High Stakes among validators seeking to professionalize the ecosystem while keeping it user-friendly. The company invests as much in education as in infrastructure: active community participation, clear documentation, and a desire to demystify staking. While competition in the Cosmos ecosystem remains intense, High Stakes has a strong and coherent positioning likely to attract both beginners and experienced users.

Éric Larchevêque, Tony Parker, and Nathan Benchimol launch “The Bitcoin Society”

Éric Larchevêque is partnering with Tony Parker and Nathan Benchimol to launch The Bitcoin Society, a newly listed company on Euronext with the objective of accumulating Bitcoin as its treasury reserve. By acquiring an already public structure, the team creates a “Bitcoin Treasury Company,” giving the public exposure to BTC through a traditional stock rather than derivatives or ETFs. The project is ambitious and built on a long-term vision based on the belief that Bitcoin will become a key monetary asset.

But The Bitcoin Society is not only about accumulating BTC. The founders also announced a community-driven component designed as a “network society,” meant to bring together entrepreneurs, investors, and enthusiasts around a shared vision of financial sovereignty. The model includes premium clubs and in-person events to build a structured Bitcoin culture beyond the purely technical dimension.

The approach is already sparking debate. Some applaud an initiative bridging Bitcoin and traditional markets while accelerating institutional adoption. Others question the idea of delegating Bitcoin custody to a listed company when Bitcoin’s core philosophy promotes individual sovereignty. The project will need to prove itself through transparency, accumulation strategy, and staying truly Bitcoin-backed.

Despite questions, The Bitcoin Society reflects a deeper trend: Bitcoin is increasingly integrating into traditional financial structures in accessible ways.

Cosmos prepares a full overhaul of ATOM tokenomics

Cosmos is preparing a major transformation of its ATOM token with the goal of gradually abandoning its current inflationary model. The protocol intends to end the system in which continuous token issuance drives economic incentives and instead shift toward a framework based on real revenue generated by network activity. The objective is clear: make ATOM a token whose value comes from ecosystem utility rather than staking-driven inflation.

The overhaul will follow a structured process including an initial proposal, research from specialized teams, economic modeling, publication of possible scenarios, and a final community vote. The goal is to build a stronger token model aligned with the growth of Cosmos-powered applications while reducing reliance on monetary inflation.

The change also addresses a persistent problem. ATOM’s inflation created constant sell pressure: once staking rewards declined, many holders sold their tokens, mechanically weakening the price. By shifting to a model funded by network fees, Cosmos aims to break this cycle and encourage longer-term holding while stabilizing the ecosystem.

However, the reform is not risk-free. Success depends on Cosmos’ ability to generate enough revenue through interoperable chains, applications, and network services. The transition must also be accepted by the community and correctly executed on a technical level. If these conditions are met, ATOM could become a model for sustainable tokenomics adapted to the realities of modern decentralized finance.

Upbit hit by a 30-million-dollar hack