Blog

The Protocol: Lido avoids the main hack

cryptobizinvest.com May 14, 2025

0 0 15 minutes read

Welcome to the protocol, CoinDesk’s weekly wraps of the most important story of cryptocurrency tech development. This is the Margaux Nijkerk and Sam Kessler, CoinDesk’s tech team.

In this issue:

Attempting to hack out Lido results in 1.4 ether lost from the Oracle provider
Bitcoin Defi Security improves as rootstock shares a hashrate
The next Ethereum upgrade ‘Fusaka’ can cut layer-2 and validator costs
Telegram has fallen to $ 8 billion crime crime market

Network news

Lido avoids major security violations: Lido, Ethereum’s largest liquid staking, avoids a major security incident after one of its nine oracle keys is compromised on what appears to be a low effect but serious violation involving the Validator Operator Chorus One. Lido ensures more than 25% of all ether (ETHs) that are stacked in Ethereum, making it one of the most systematic important protocols in the Ethereum ecosystem. The compromised key is tied to a hot purse used for reporting Oracle, leading to theft of 1.46 ETH ($ 4,200) on gas fees. No user funds were affected, and no wider compromise was detected, every X post from both Lido and Chorus One. – Tim Craig Read more.

Bitcoin Defi Blossoming: Decentralized Finance . A central participant is the rootstock, one of the oldest bitcoin Layer-2 projectsCrypto analytics firm Messari said in the report “State of Rootstock”. Rootstock is now secured by 81% of Bitcoin’s total hashrate, which means miners worth the hashrate value also approved transactions in layer 2. The figure was only 56% before the onboarding of Foundry and Spiderpool, the largest and sixth largest mining, respectively, in February. – Jamie Crawley Read more.

Fusaka planning begins: After successful deployment Last week of Pectra, Ethereum’s largest upgrade for more than a year, major network developers change focus on the next major chain upgrade: FUSAKA. Pectra, The biggest change in code In Ethereum since the combination of 2022, major changes aimed at making staking for institutions easier, improving access to the purse, and strengthening transaction efficiency. Developers have already begun planning for FUSAKA, the next network upgrade, and so far has come up to include a Ethereum (EIP) improvement proposal called “Peerdas” that can help support the network of larger “blobs” of transaction data. – Margaux Nijkerkk Read more.

Telegram has fallen to the Crypto Crime Marketplace: Telegram app messaging closed thousands of channels belonging to China’s suspected crypto-crime markets after new research on the situation, according to Elliptic. The closure follows a report published by the Blockchain Analytics firm on Tuesday in the fast -growing telegram -based market called Xinbi guarantee. Colorado -combined market has been processing more than $ 8.4 billion worth of transactions using Tether’s USDT Stablecoin since 2022. It has facilitated services related to money losses, running crypto scam compounds and other prohibited services, such as threat and sex trafficking, according to elliptic. – Tim Craig Read more.

In other news

Robinhood Markets (Hood)The California -based financial service company, Says It is up to buy the Canadian crypto firm Wonderfi (WNDR) for $ 178.98 million. All-cash acquisition values are Wonderfi at 36 Cents of Canada per part, a 41% premium over its price before the announcement. – Omkar Godbole Read more.
Stock and Crypto trading platform Statement (coming) Declared for $ 52 a portion of the NASDAQ exchange. The company raised nearly $ 312 million from investors by selling 6 million shares at a price of $ 52 a piece. The list appreciates the company for $ 4.2 billion. Ethoro became the first US crypto company to go public following the uncertainty in the market made by President Donald Trump’s tariff actions. – Helene Braun Read more.

Regulation and policy

The Gibraltar government said it plans to promote the world’s first policies for the refinement and regulation of crypto derivatives, which creates a regulation framework to improve market integrity and reduce major risks. Collaboration with the Gibraltar Financial Services Commission (GFSC) and the Crypto Exchange Bullish (with -owned, bullish group, also the CoinDesk’s parent), the government has set up a plot in the past six months customizing traditional regulations on financial cluster in the Virtual Asset market. – Jamie Crawley Read more.