ALPACA price tanks 30% as Alpaca Finance begins wind-down after four-year run

Cetus Protocol, the largest decentralized exchange on the Sui blockchain, is offering a $6 million bounty to the hacker behind a massive $223 million exploit that occurred on May 22. In a May 22 follow-up statement accompanied by an on-chain message, the Cetus team confirmed they had identified the attacker’s Ethereum wallet and offered a “whitehat settlement” to recover user funds. The hacker is being asked to return 20,920 ETH and all frozen assets on Sui (SUI) in exchange for keeping 2,324 Ethereum (ETH), worth approximately $6 million, and immunity from legal action. Cetus said this is a time-sensitive offer and that if the funds are off-ramped or mixed, the deal is off. The team is coordinating with law enforcement, cybercrime specialists, the Sui Foundation, and regulators including FinCEN and the U.S. Department of Defense. Inca Digital, a cybersecurity firm, is leading the negotiation efforts. https://twitter.com/cetusprotocol/status/1925653859143172608?s=46&t=nznXkss3debX8JIhNzHmzw The breach exploited a vulnerability in Cetus’ pricing mechanism and impacted its concentrated liquidity market maker pools. The attacker used spoof tokens, which are fake or low-value assets with manipulated metadata, to inject tiny amounts of liquidity into trading pools.  You might also like:Alleged Coinbase hacker trolls ZachXBT with on-chain message after swapping $42.5m BTC Because of the distortion of those pools’ internal accounting, the hacker was able to take out substantial quantities of valuable tokens, such as SUI and USD Coin (USDC), at incorrect exchange rates.  The attacker deceived the system into believing the pools were balanced by carefully timing these spoof token deposits with complex flash swaps and price manipulation. As a result, they were able to drain substantial real assets without supplying equivalent value. Cetus had reportedly passed recent security audits prior to the hack. However, by exploiting internal pricing logic and economic assumptions rather than simple code errors, the attacker’s method evaded typical vulnerability scans. After initially draining $11 million from an SUI/USDC pool, the attacker quickly intensified the attack. They bridged more than $60 million in stolen funds to Ethereum and bought over 21,900 ETH. They currently have millions of SUI, ETH, and stablecoins in their wallets. The Sui ecosystem was severely damaged by the exploit. Smaller tokens like AXOL, HIPPO, and SQUIRT lost almost all of their value, while the SUI token dropped as much as 15%. CETUS, the token of Cetus, fell 20–33%. Trading volumes surged as users scrambled to withdraw funds. Cetus has paused smart contracts following the hack the hack and is attempting to secure its platform. The incident raises questions about the security of DeFi protocols on newer chains like Sui and Aptos (APT). Although these ecosystems offer innovation, analysts warn that vulnerabilities in complex DeFi logic remain a persistent risk. Read more:The Coinbase hack that shadowed its S&P rise — and the investigators who saw it coming

Synthetix 的算法稳定币 sUSD 继续偏离 1 美元的挂钩水平，目前交易价格为 0.90 美元。 脱钩始于3月份，sUSD一度跌破1美元。SIP-420（一项旨在提高资本效率并简化Synthetix (SNX) 生态系统内用户体验的治理提案）实施后，情况进一步恶化。根据Parsec的研究，SIP-420的实施无意中导致了sUSD供应量的大幅增加，从而引发了当前的脱钩。 来源：CoinMarketCap 具体来说，SIP-420 引入了一个协议自有的质押池，允许 SNX 持有者将其质押委托给共享池，而无需自行管理债务并铸造 sUSD。新的设置将抵押率从 500% 降至 200%，这使得铸造更多 sUSD 变得更加容易——据 Parsec 称，大约是 2.5 倍。这消除了稳定币的稳定机制——即当价格跌破挂钩水平时，激励个人质押者以折扣价购买 sUSD 来偿还债务。 现在，随着债务池的建立，质押者实际上已经没有机会恢复锚定汇率。再加上 420 池目前持有超过 8000 万美元的 SNX，sUSD 的供应量大幅增加，一些 Curve 流动性池的 sUSD 比例甚至超过 90%。由于缺乏立即平衡新增供应的需求，sUSD 的价格持续下跌。 资料来源：Parsec Research 更糟糕的是，在脱钩开始之前，Infinex 就开始激励用户在 Infinex 钱包中持有 sUSD。然而，这些激励措施导致系统流动性增加，却没有带来相应的需求。正如 Infinex Discord 频道上的一位用户写道：“你们通过活动推广 sUSD，你们应该承担责任。” 您可能还喜欢：Synthetix 的算法稳定币 sUSD 继续脱钩，跌至 0.85 美元 The Synthetix team has reassured users that this is a “transition period.” They’re working to create new demand sinks, such as Aave (AAVE) and Ethena (ENA) integrations, to counterbalance the excess supply of sUSD. Additionally, they have promised to bolster incentives for liquidity pools, particularly on Curve, to restore stability. To summarize, the SIP-420 upgrade has brought capital efficiency and a simpler UX to Synthetix, but it has removed the organic reflexive peg stabilizer, resulting in the sUSD depeg as a side effect. By moving to a protocol-owned staking pool and lowering the collateralization ratio, SIP-420 has led to an increase in the supply of sUSD without sufficient demand to counterbalance it. This has caused the stablecoin to depeg, with the price currently hovering around $0.90. This means sUSD holders are left with a choice: exit now or hold and wait for full recovery. You might also like:How stable are stablecoins?

XRP price retreated for the fourth consecutive day as the crypto market crash continued. Ripple (XRP) dropped to a low of $2.0715 on Friday, June 13, down 11% from its highest point this week and 36% below its peak earlier this year. The token declined even as the XRP Ledger network continued to grow following Circle’s expansion of USD Coin (USDC) to the network. Data on Circle’s website shows that the total supply of USDC on XRP Ledger has jumped to over $2 million since its incorporation. XRP price also dropped even as Ondo Finance (ONDO) expanded its tokenized treasuries to the ledger through a partnership with Guggenheim Partners, a company with almost $350 billion in assets.  You might also like:Is the crypto bull run still possible after Israel bombed Iran? Meanwhile, the Ripple USD (RLUSD) stablecoin has continued to grow. Its market cap has climbed to $413 million, up from $309 million on June 1. If this trend continues, it could reach $500 million by the end of this month or in July. Another bullish catalyst is the rising odds that the U.S. Securities and Exchange Commission will approve a spot XRP exchange-traded fund. Current estimates place the likelihood at 90%. This is notable as the agency faces a June 16 deadline to rule on Franklin Templeton’s ETF application. Odds are that the SEC will postpone the decision, potentially to October. XRP price analysis XRP price chart | Source: crypto.news The daily chart shows that XRP has remained under pressure over the past few months, falling from $3.40 in January to below $2.20. XRP is now trading below the 50-day and 200-day Exponential Moving Averages, a sign that bears are gaining momentum. Notably, XRP has formed a descending triangle pattern, a common continuation signal. This pattern includes a descending trendline connecting the highs since January 16 and a horizontal support level at $1.9097, which also aligns with the 50% Fibonacci retracement level. Therefore, the token is likely to experience a bearish breakout, confirmed if it drops below support at $1.9097. Such a move would increase the odds of a decline toward $1. Conversely, a break above the descending trendline would suggest further gains, potentially back to $3.40. You might also like:XRP price prediction in June 2025 – the constant range is close to a breakout above?

Sui token remains in a corrective phase after falling 16% from its monthly high, following the recent exploit involving Cetus Protocol. Sui (SUI), a fast-growing layer-1 network, was trading at $3.50 on Wednesday, continuing to underperform relative to other top cryptocurrencies. Despite the correction, both technical and fundamental indicators suggest a potential bullish breakout in the coming days. The Sui Foundation has intervened by providing a secured loan to Cetus Protocol to help cover the recent $223 million hack.  The loan covers the funds that were moved from Cetus to Ethereum (ETH) addresses. Cetus is now calling on the Sui community to vote on whether to approve the release of $162 million in frozen assets. Sui price may also bounce back as interest in exchange-traded funds rose. 21Shares joined Canary in applying for a spot Sui ETF. Analysts hope that the SEC, under Paul Atkins,will approve most of the applied altcoin ETFs by the end of the year.  You might also like:BERA price crashes as Berachain transactions, stablecoins plunge A spot ETF approval would be bullish for Sui, as it would open the door for more sophisticated institutional investors to gain exposure to the asset. DeFi Llama data shows that the total value locked in Sui has started to recover after last week’s sharp decline. TVL stands at 693 million SUI, up from a low of 584 million. In dollar terms, TVL has risen to $2.47 billion, while the stablecoin market cap has stabilized at $1.02 billion. Sui price technical analysis Sui price chart | Source: crypto.news The daily chart shows that Sui has formed a descending channel following last week’s Cetus hack. This channel appears to be the flag portion of a bullish flag chart pattern, a classic continuation signal. Price has remained above the 50-day and 100-day exponential moving averages, indicating that bulls still have control. It has also retested the 38.2% Fibonacci retracement level, another positive technical sign. Given these conditions, SUI is likely to bounce, with an initial target at $4.2648, the monthly high and 23.6% retracement level. A breakout above that level would signal further upside, potentially driving the price toward the all-time high of $5.3735, representing a 50% gain from current levels. You might also like:XRP price nears four-month low as death cross looms against Bitcoin

Story Protocol 宣布与牛津大学合作开展一项研究计划，以提高人工智能代理的沟通和谈判能力。 此次合作将专注于提高人工智能交互的清晰度和优化代理之间的协商，并将发展成果融入 Story 的 Agent TCP/IP 框架。 Agent TCP/IP 旨在促进人工智能驱动的知识产权交易，使自主代理能够交换、许可和管理数字资产。 通过整合牛津大学的研究，Story 旨在改进人工智能代理的沟通方式，确保交流更加顺畅、更加透明。 “We are able to accelerate towards a future where AI agents can collaborate and exchange IP autonomously,” Story stated.  该公司将自己定位为人工智能代理的领先中心，其与牛津的合作体现了其对人工智能自主性开拓性进步的承诺。 Story Protocol 是一个专门构建的第 1 层区块链，旨在注册和管理链上的知识产权。它允许创作者注册各种形式的 IP（例如图像、歌曲、现实世界资产和 AI 训练数据）并指定使用条款，从而促进去中心化和可编程的 IP 管理。 你可能还喜欢：李：比特币接近触底，年底目标仍为 15 万美元 牛津大学和人工智能 Oxford University recently partnered with OpenAI as part of a $50 million initiative involving 15 top universities to integrate AI tools into research and education.  The university provided 3,000 academics and staff access to ChatGPT Edu after a successful pilot. Oxford researchers gained access to OpenAI’s latest models and research grant funding through the NextGenAI initiative.  The collaboration included a project to digitize public domain materials from the Bodleian Libraries, making historic dissertations accessible online. The Story initiative aligns with broader industry efforts to enhance AI’s ability to interact effectively in decentralized digital ecosystems.  You might also like:​Mexican Billionaire Ricardo Salinas allocates 70% of his portfolio to Bitcoin