Bitcoin explodes while Coinbase collapsed: Funding has been redefined
The news erupted on May 15 that Coinbase was a target to try to blackmail $ 20 million after Internet criminals employed support agents abroad to leak user data for fraud in social engineering.
While less than 1 % of active monthly users in Coinbase have been affected, the expected expenses and payment ranged between 180 million dollars to 400 million dollars, as the stock exchange pledged to pay all the victims of the talented attack.
Despite the attack on the third largest encrypted currency exchange in the world, investor morale is still optimistic, with the Fear & Greed index remaining firmly in the “Granding” area above 69, according to Coinmarketcap Data.
In addition to the optimism of the investor, Coinbase witnessed more than a billion dollars of Bitcoin withdrew on May 9, which represents the highest net net flow in 2025 so far, which led to the predictions of analysts with a paid bitcoin.
Coinbase faces a $ 400 million bill after the internal hunting attack
The company said on May 15 that Coinbase has caused an attempt to blackmail $ 20 million after Internet criminals recruited support agents abroad to leak user data.
Coinbase said that a group of external actors bribed and coordinated with many customer support fighters to access internal systems and steal the user account data limited.
Coinbase said: “These people have misrepresented customer support systems to steal the account data of a small sub -group of customers,” adding that no special passwords, special keywords, money or account of Coinbase have been affected.
The company said that less than 1 % of the data of the monthly transactions users in Coinbase was affected by the attack.
After stealing the data, the attackers tried to blackmail Bitcoin worth $ 20 million (BTC) From Coinbase in exchange for not detecting the breach. Coinbase rejected the request.
Instead, the company provided a $ 20 million reward for information that leads to the arrest and condemnation of those responsible for the plan.
$ 1 billion from Bitcoin comes out in one day, as analysts warn of the shock of the offer
Institutional demand grows on Bitcoin, where Coinbase, the third largest cryptocurrency exchange in the world, has the highest daily flow of Bitcoin in 2025 on May 9.
On May 9, Coinbase 9,739 Bitcoin, whose value is more than a billion dollars, was withdrawn from the stock exchange, the highest net net flow in 2025, according to European Research President Andre Dragush.
Dragosch added on May 13: “Bitcoin’s institutional appetite is accelerating,” Dragosch added on May 13. mail.
The external flow occurred where Bitcoin was traded above $ 103,600, and a few days after the White House announced a 90 -day decrease in the mutual tariff between the United States and China, which reduces market fears and raised the feelings of the wider investors.
The suspension of the 90 -day additional definitions removed the risk of “sudden re -escalation”, which may be Bitcoin help, altcoins Aurelli Barteri, Nansen Research Analyst, said in Cointelegraph, and the broader market is gathered due to the appetite of improved risks.
Defi Lander Aake reaches $ 40 billion in the closed value
AAVE, a central financing protocol (Defi), has reached a new record of onchain money, according to Defillama data.
In x mailAAVE said it reached $ 40.3 billion in the total closed value (TVL) on May 12. Onchain data Reveal AAVE V3, the latest version of the protocol, has about $ 40 billion in TVL.
AAVE is a Defi lending protocol that allows users to borrow the cryptocurrency by depositing other types of encrypted currency as a guarantee. Meanwhile, lenders gain returning from borrowers.
“With these landmarks, AAVE has proven its dominance in the lending space,” said Jonaso, an analyst in Devi on May 12. mail. TVL represents the total value of the cryptocurrency -filled currency in the protocol.
SEC Delay Solana Etf as Polkadot Decisions, XRP LOLL
The US Securities and Exchange Committee (SEC) has prompted its decision regarding the localized exchange fund (ETF), where the coded currency industry is now looking for the final dates of the ETF agreement based on Polkadot and XRP in June.
The Supreme Education Council delayed its decision regarding the list of Solana’s SolanaSol) Trust ETF on the New York Stock Exchange (NYSE) until October 2025, according to May 13 presentation By the stock regulator.
The decision came in the following week to postpone the Supreme Education Council, its ruling on Letecin in Canary Capital (LTC) ETF, Bloomberg Intelligence James Seffart analyst wrote on May 5 x mail.
Instant investment funds are main engines for liquidity and institutional adoption of digital assets. For Bitcoin, the investment funds circulated in the United States are Bitcoin 75 % of the new investment After its launch, which helped BTC recover $ 50,000 in February 2024, a month after ETFS appeared for the first time for trading.
While a Solana ETF May Ryan Lee, chief analyst at Bitget Research, told Cointelegraph, to generate a small portion of the Bitcoin’s investment funds in the Bitcoin, it may increase the long -term Solana adoption by giving investors “an organized investment vehicle” may still attract billions of dollars in capital, Ryan Lee, the chief analyst in Bitget Research, for Cointelegraph.
Starknet strikes “Phase 1” decentralization, tops ZK-Rollups for a closed value
Starknet has reached the Ethereum Layer-2 platform to a decentralized teacher, moderated by the co-founder of Ethereum Vitalik Buterin, which is now the largest zero-based network through the total closed value.
Startnett said in a joint press statement with Cointelegraph that he had struck the decentralization “stage 1”, according to To a frame Burin was placed in 2022, which means that the network works with limited supervision or “training wheels”.
Starknet added that the frame is the “Onchain Gold Tool to analyze ETAREUM”, and said that he had achieved the teacher through changes such as establishing the Security Council and mechanisms to avoid oversight.
While the regime still allows intervention from the Security Council, the system of proving validity has carried out its full capacity governed by smart contracts.
StarkNet is now the only Layer-2 network that has reached the first stage, and has grown to be the largest Blockchain ZK-Rollup with a total closed value of $ 629 million, $ 610 million from Zksync, According to To L2BEAT.
Starknet is the fifth largest Layer Network 2 By the closed value, with the presence of the first four -based Rollup, after it reached decentralization in the first stage using fraud evidence.
Defi market overview
According to data from Cointelegraph Markets Pro And TradingView, most of the 100 most encrypted currencies ended according to the week’s market value in green.
Solana -based Mimikoin Dujuwn (wifMore than 43 % rose as the largest winner of the week, followed by ExchandE Exchang Raydium (opinionThe distinctive symbol, up to 19 % last week.
Thanks for reading our summary of the most influential Defi developments this week. Join us next Friday for more stories, visions and education regarding this dynamically advanced space.
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