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The WLFI community is currently voting on a USD1 airdrop proposal, while the token experienced a sharp 1,540% surge from $128 million to $2.1 billion in just two days in late April.

USD1 Circulates Mostly on BNB Chain

The vast majority of USD1’s supply is issued on the Binance-backed BNB Chain. Data from BscScan shows that over $2.1 billion worth of USD1 is circulating on the BEP-20 network, while its Ethereum-based ERC-20 version accounts for just $14.5 million, per Etherscan.

This massive spike occurred just days before Eric Trump announced that Abu Dhabi-based firm MGX would be investing $2 billion using USD1 on Binance.

HTX Among First Exchanges to List USD1

HTX (formerly Huobi), a crypto exchange associated with Tron founder Justin Sun, was among the first CEXs to list USD1, offering zero-fee withdrawals on the BEP-20 network from May 6 onward. Until then, USD1 was mostly available on decentralized exchanges like PancakeSwap and Uniswap.

Reports indicate that 90% of WLFI investors come from outside the U.S., with strong participation from Europe, Asia, and Latin America. This was echoed in a Bloomberg report from May 7, noting that most top holders of Trump-branded memecoins reside abroad.

The rise of USD1 aligns with Trump’s January 2025 executive order, “Strengthening American leadership in digital financial technology,” which promoted stablecoin innovation. However, both Trump and Binance have denied having any formal partnership or ties.

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“OKX cannot freeze a customer’s funds based on a personal X post or verbal communication. We follow legal consumer protection policies. As a CEO yourself, you should understand this,” Xu said. He added that no such request had been received via official channels. “Our LE team checked all inboxes — including spam. No request related to this case was found,” Xu stated.

Tron DAO Confirms Account Breach

On May 3, Tron DAO informed its 1.7 million followers that the organization’s X account was compromised. The hacker reportedly shared a malicious smart contract address, sent suspicious DMs, and followed random accounts.

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Sun claimed, “These stolen funds are not mine. I’m acting to protect the community.” His original post, which accused OKX of negligence, was later deleted. Xu responded by asking Sun to publicly share a screenshot of the alleged law enforcement request.

Crypto Twitter Faces Wave of Hacks

The Tron incident follows a series of high-profile security breaches targeting crypto accounts on X. On March 15, Kaito AI and its founder Yu Hu were hacked; attackers shorted KAITO tokens and posted fake security alerts.

Earlier on February 26, Pump.fun’s X account was hijacked to promote a fraudulent governance token. On April 15, UK MP Lucy Powell also had her account compromised to push a scam crypto coin.

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Bybit Rebuilds Its Reserves!

Before the attack, Bybit held 439,000 ETH in reserves, which dropped to just 61,000 ETH. However, the exchange has made a significant recovery, increasing its reserves to 201,600 ETH in a short period.

According to crypto analytics platform Lookonchain, Bybit purchased 106,498 ETH worth $295 million through OTC (over-the-counter) trades.

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Additionally, major crypto exchanges stepped in to support Bybit with emergency transfers:

• Binance sent 50,000 ETH
• Bitget transferred 40,000 ETH
• HTX Group co-founder Du Jun contributed 10,000 ETH

User Confidence Remains Strong!

Despite the attack, Bybit processed over 350,000 withdrawal requests within 10 hours, successfully completing 99.9% of them. This demonstrated the exchange’s operational stability and continued user trust.

Hacken, an independent reserve auditor, confirmed that Bybit still holds more reserves than its liabilities. “Today’s attack was a major hit, but user funds remain fully protected,” the firm stated, highlighting Bybit’s financial strength.

Was the Bybit Hack Linked to North Korea?

Blockchain security researchers believe the attack was carried out by Lazarus Group, a North Korea-linked hacking organization. The group was previously responsible for the $600 million Ronin Network hack.

Reports suggest the attack exploited a vulnerability in Bybit’s multi-signature Ethereum cold wallet. A malicious smart contract manipulated the exchange’s signing authorities, allowing hackers to seize control of the funds.

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Details

The 70,182 ETH transferred by Justin Sun originated from the following sources:

• 42,905 ETH was unstaked from Lido Finance, a decentralized liquid staking protocol.
• 27,277 ETH was transferred from the Etherfi platform.

With this transaction, Sun’s total Ethereum deposits to HTX as of the end of November reached 179,101 ETH, valued at approximately $645 million.

Other Major Transactions in December

• December 23, 2024: Justin Sun liquidated 39,999 ETH (worth $143 million) from Lido Finance and Etherfi and deposited the funds into HTX.
• December 16, 2024: He requested to withdraw 52,905 ETH (valued at $209 million) from Lido Finance.

Market Impact

Justin Sun’s actions could lead to short-term price fluctuations in the Ethereum market, as his large-scale transactions draw attention and influence trading dynamics.

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EIGEN Tokens Transferred to Binance via HTX

According to EmberCN’s report, six wallet addresses linked to Justin Sun moved EIGEN tokens to the HTX platform immediately after receiving them. Subsequently, these tokens were transferred to Binance, where the sale began. However, the analytics firm later deleted their post, causing confusion about the claims.

HTX Responds to Allegations

HTX quickly responded to the allegations, firmly denying that the wallet addresses mentioned in the report were linked to Justin Sun or his team. The exchange refrained from commenting further on the wallet addresses, citing a lack of concrete evidence.

No Statement from Justin Sun Yet

Eigenlayer, a recently launched restaking protocol, saw a surge in popularity following the airdrop distribution of EIGEN tokens. At the time of writing, the EIGEN token is trading at $3.57. Justin Sun has not yet made any public statement regarding the matter.

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First Community Token Based on Fractional NFT’s (WEN)

The poem “A Love Letter To Wen Bros” on the project’s website has been divided into many parts, similar to Solana tokens. Each WEN token is equal to a divided fragment of this poem.

Pushing the Boundaries of Solana:

• The first community token based on fractional NFTs
• The first official launch on Jupiter’s LFG Launchpad platform
• The first NFT minted according to the WNS NFT standard
• Equal distribution to over 1 million active Solana wallets

WEN Foundation

The WEN Foundation is a group dedicated to contributing to the Solana community by supporting the development of public goods and further strengthening the message that is only possible on Solana.

The WEN Foundation’s first contribution is the “Wen New Standard” (WNS), an open-source NFT standard intended to be extended by all members of the community.

There is no team allocation or compensation for early contributors. With a simple distribution of 70 percent airdrop and 30 percent LP/strategic reserve, the primary focus is on giving back to Solana.

Tokenomics

The total supply of the WEN token, which is 1 trillion, was planned to be distributed to the community through airdrop events. Seventy percent of the total supply was equally distributed to users through the airdrop.

The demand period ended and 300 billion WEN, equivalent to 30% of the total supply allocated for the airdrop, was burned.

Of the remaining 30% segment excluding the airdrop, 20% are allotted for the liquidity pool and 10% are set aside for the treasury.

What is the Price?

As of March 5, 2024, the day this article was written, $WEN lost approximately 8% in value according to CoinMarketCap data and is trading at around $0.0002153. The market value is $136,067,815.

Where to Buy?

WEN tokens are traded on exchanges like HTX, Gate.io, Kucoin, MEXC. If you haven’t registered on these exchanges yet, you can register through these links and get lifetime commission discounts.

You can get discounted tickets for the Token 2049 Dubai Event through this link.

The post WEN: Cat-themed memecoin on Solana network! appeared first on Coin Engineer.

Justin Sun captioned the shared image with “My personal HTX account balance (for those saying I rarely use HTX)”. Sun stated that he uses and supports all major exchanges, but also regularly utilizes HTX, and trades on platforms like HTX, in which he believes.

Justin Sun owning more than a billion dollars in crypto does not surprise those who have been following his roller-coaster career as a crypto emperor, holding such a large sum in the HTX wallet is notable. The TRON blockchain, founded by Sun, has been under investigation by the Securities and Exchange Commission (SEC) for fraud and securities law violations since 2022.

Last year, the SEC alleged that Sun gave orders to artificially inflate the price of his Tronix token through fake trading and sold unregistered securities. The SEC petitioned the court to ban Sun and his companies from offering securities, including digital assets.

Sun also advises cryptocurrency exchange Huobi and is instrumental in rebranding Huobi’s brand as HTX. With the rebranding, HTX aims to open up to international markets and attract customers outside of China.

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Heroes of Mavia is the top free mobile game in China for Android devices and is the number one game on the Google Play store in Nigeria. It also ranks high in the Apple App Store in Poland, Finland, and Canada.

The blockchain-based game project is notable for the $2.5 million investment and $100 million valuation that Skrice Studios raised two years ago in a round led by Crypto.com Capital. Binance Labs led a $5.5 million seed round in 2021. The company, which has raised a total of $9 million, announced that the Heroes of Mavia token will start trading on exchanges such as Bybit, KuCoin, and HTX.

This success shows that blockchain-based game projects are attracting increasing attention from investors and that projects like Heroes of Mavia are gaining a significant foothold in the industry.

The post Binance Labs Backed Project Announces New Airdrop! appeared first on Coin Engineer.

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Background of the Incident: Ripple’s Bad Start and Hack Shock

Ripple had a bad start to February. Ripple co-founder Chris Larsen confirmed that 213 million XRP worth $112 million had been stolen from his personal accounts. Also, the details of the hack and the transfers of the stolen assets worried the crypto community.

ZachXBT’s Explanation: Behind the Scenes of the Hack

ZachXBT, who explained the hack, stated that he sent the stolen 213 million XRP to MEXC, Gate, Binance, Kraken, OKX, HTX, and HitBTC exchanges. Additionally, these statements revealed the extent of the exploitation and the complexity of the solution process.

Important Support Statements from Richard Teng

Binance CEO Richard Teng announced that they have frozen $4.2 million worth of Ripple (XRP) tokens related to the $120 million hack. Also, Teng praised Chris Larsen’s quick response and the community’s cooperation, emphasizing that Zach XBT’s role was critical in solving the hack.

Binance and Ripple Collaboration: Tracing Stolen Funds

According to Teng’s statements, the Binance team froze the stolen $4.2 million worth of XRP after learning about the exploitation that Ripple experienced early on. Also, It was stated that the funds in the exploiter’s external wallets would be closely monitored if they were transferred to Binance.

Unity and Solidarity in the Crypto Community: SAFU Principle

The statements of the Binance CEO emphasize the importance of unity and cooperation in the crypto world. For a secure ecosystem, it can be considered a critical step for the crypto community to come together and for large platforms to support this effort in terms of increasing maturity in the industry.

Conclusion

The support shown by Binance CEO Richard Teng to Ripple is a reflection of solidarity and trust in the crypto world. By acting together, finding more effective solutions against similar incidents and protecting crypto assets can play a significant role in increasing the reliability of the industry. With the SAFU principle, the crypto community can be better prepared for future challenges.

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According to the details of the hacking incident, hackers are said to have laundered the XRP they stole through transfers via well-known exchanges such as Binance, Kraken, OKX, HTX, HitBTC, MEXC, and Gate.io.

No official statement has yet been made by Ripple CEO Brad Garlinghouse or other executives. Ripple is known as one of the oldest companies in the cryptocurrency world, and this incident could lead the company to review its security measures again.

ZachXBT, a well-known name in the cryptocurrency community, announced that approximately 213 million XRP ($112.5 million) had been stolen. It is stated that the stolen funds were quickly transferred to various platforms after the attack that took place on January 30.

While the Ripple team has not yet made a statement about the attack allegations, the value of XRP fell after the news of the attack. According to TradingView data, XRP lost about 3% on a daily basis and more than 4% on a weekly basis.

This latest incident in the cryptocurrency world continues to worry investors and cryptocurrency followers, while uncertainties about Ripple’s future have also come to the fore. Ripple is expected to increase its security measures and restore confidence to investors after the incident.

The post BREAKING NEWS | Was Ripple (XRP) Hacked? appeared first on Coin Engineer.