Tag: Humanity Protocol

BroadChain learned that at 13:16 on April 19, according to TechFlow, monetsupply.eth, the strategy lead of Spark Protocol, disclosed on April 19 that the protocol delisted low-usage assets such as rsETH and tightened collateral scope in January this year. Although this move once caused dissatisfaction among ETH loop leverage users, it has proven to be forward-looking in the current market environment. Spark has long set a higher interest rate cap for ETH lending, ceding some business and revenue to Aave over the past year, with the latter's ETH borrowing rate once dropping below 10%. Currently, SparkL

BroadChain learned that at 12:16 on April 19, according to PANews, at 17:35 (UTC) on April 18, an attacker stole 116,500 rsETH (approximately $292 million) from the Kelp DAO bridge contract by forging LayerZero cross-chain messages. The attacker subsequently collateralized the stolen rsETH on Aave V3, borrowing approximately $236 million in wETH. As the bridge reserves have been emptied, this batch of rsETH effectively lacks underlying asset support, resulting in approximately $177 million in bad debt for Aave V3. 46 minutes later, Kelp paused the contract, but two subsequent attempts by the attacker failed. This

BroadChain has learned that on April 19 at 09:30, according to TechFlow, on April 18, an attacker stole approximately 116,500 rsETH (worth $292 million) from the Kelp DAO bridge contract by forging LayerZero cross-chain messages, subsequently collateralizing it on Aave V3 to borrow approximately $236 million in wETH. This attack exposed the structural risks of the cross-chain bridge reserve model: the depletion of mainnet reserves has left 18% of the total rsETH supply without underlying backing, potentially triggering a run by L2 holders. Aave's Umbrella fallback mechanism faces its first major stress test, needing to cover an estimated $177 million shortfall with staked assets.

BroadChain learned that at 09:30 on April 19, according to PANews, on April 19, the rsETH cross-chain bridge under Kelp DAO was attacked. The attacker transferred approximately 116,500 rsETH from the bridge via LayerZero-related contract calls, resulting in losses of approximately $292 million at current prices. The protocol paused its core contracts about 46 minutes later, preventing further attack attempts. The Kelp team stated that it has suspended the rsETH contracts on the mainnet and multiple Layer2 networks for investigation and is collaborating with LayerZero, Unichain, auditors, and security experts for root cause analysis.

BroadChain learned that at 09:16 on April 19, according to PANews, in response to the KelpDAO attack incident, Aave announced it has frozen the rsETH market on its V3 and V4 protocols. This asset currently has no borrowing capacity. Aave emphasized that its contracts themselves were not attacked; the freeze is to prevent new rsETH deposits and collateralized borrowing, allowing the team to assess the situation. Currently, Aave V3 and V4 no longer hold rsETH. The team is reviewing rsETH borrowing information that occurred after the exploit and will disclose details as soon as possible. If the protocol incurs bad debt due to this incident, the team will explore ways to cover the losses. Previously, the KelpDAO cross-chain bridge

BroadChain learned that at 08:30 on April 19, according to Bitcoinist, Charles Edwards, founder of the digital asset hedge fund Capriole Investments, warned that listed Bitcoin mining companies are accelerating their shift to artificial intelligence (AI) business, which could pose a threat to Bitcoin's price and network security. Data shows that the proportion of Bitcoin revenue for major listed mining companies is expected to plummet from about 90% to 30% within the next 2-3 years. Market performance has become a key driver: companies setting AI revenue targets exceeding 80% have seen their stock prices rise by an average of over 500%, while those with targets below 60% have performed weakly. Mining companies' investment strategies have also shifted,

BroadChain learned that at 08:16 on April 19, according to NewsBTC, Bitcoin has confirmed a breakthrough of the macro downtrend on the linear chart, signaling a potential shift in the broader market structure. However, the current price is at a key resistance area on the logarithmic chart, and uncertainty remains. The upcoming price action will be crucial to determine whether this breakthrough develops into a sustained bull trend or a potential bull trap. From the linear chart perspective, breaking the main trendline may mark the end of the bear market cycle, but the logarithmic chart shows the price is at a major resistance level. For the breakthrough to be valid, the price needs to push into the mid-$85,000 range and maintain closing prices for several days to shift the macro structure from bearish to bullish.

BroadChain learned that at 05:00 on April 19, according to CryptoNews, influenced by the two-week US-Iran ceasefire agreement, international oil prices fell, compressing the risk premium related to the Strait of Hormuz that had been suppressing risk assets for months. The price of Bitcoin once broke through $78,000 yesterday, the first time since early February, before retreating and stabilizing. This rebound triggered $427 million in short position liquidations. Meanwhile, crypto-related stocks outperformed Bitcoin itself, with Coinbase, Robinhood, and Strategy shares rising at least 25% each by the close of trading last Friday, while BTC gained slightly less than 7% over five trading days. Citi analyst Alex Sau

BroadChain learned that at 05:00 on April 19, according to CryptoNews, the Ketman Project, supported by the Ethereum Foundation's security project ETH Rangers, identified approximately 100 North Korean IT personnel using forged identities who have infiltrated Web3 companies after a six-month investigation. This is one of the most detailed public statistics on North Korean internal infiltration in this field to date. The threat pattern has shifted: North Korea's state-level crypto operations have moved from remote attacks and exchange hacks to the 2025 model—coordinated human infiltration, where personnel pass through HR screening, access internal codebases, and remain dormant within product teams for months.

BroadChain learned that at 04:46 on April 19, according to NewsBTC, Bitcoin experienced a significant 11% rebound after weeks of consolidation, indicating a shift in market momentum and attracting investor attention. However, on-chain analyst GugaOnchain pointed out on the CryptoQuant platform that the current moment is not the best entry point. Although the MVRV Ratio (1.3856) has broken above the 30-day moving average (1.2947), and the Binance buy/sell order ratio shows active buying, the current MVRV value remains significantly below the 365-day moving average (approximately 1.8620), suggesting the market has not yet entered an overheated phase. Technical analysis shows that Bitcoin's daily chart has broken above the rising channel resistance

BroadChain learned that at 04:16 on April 19, according to Bitcoinist, cryptocurrency expert James pointed out that the upcoming XLS-66 amendment, to be voted on by XRP Ledger validators, is not a simple staking-for-yield mechanism but a structured institutional lending protocol. This protocol allows XRP holders to deposit assets into single-asset vaults and receive MPT tokens representing their deposits. The redemption value of MPT increases over time, with yield realized only upon redemption. Borrowers are institutions such as banks, market makers, fintech companies, and payment providers, which obtain unsecured short-term working capital loans for 30 to 180 days through off-chain traditional underwriters for credit assessment. Expert Bo

BroadChain learned that at 02:16 on April 19, according to Bitcoinist, French Finance Minister Roland Lescure recently called on European banks to develop more euro-pegged stablecoins to counter the overwhelming dominance of the US dollar in this field. In a pre-recorded speech at a crypto conference in Paris, Lescure pointed out that the trading volume of euro stablecoins is "unsatisfactory" compared to dollar stablecoins. He specifically mentioned the Qivalis project, a joint initiative by European banks including ING, UniCredit, and BNP Paribas, which aims to develop a euro stablecoin expected to launch in the second half of 2026 to counter dollar dominance. This move is seen as an effort by European authorities to reduce reliance on non-European supplies.