#958 - Vitalik Pitches Options Synthetics, Gnosis Pay Bug, Fluid Incident
Vitalik proposes options as the base primitive for synthetics, Gnosis Pay suffers a delay module bug, and Fluid rewards compromise.
Options-based synthetics design.
Gnosis Pay delay module bug.
Gnosis Chain bridge temporarily paused.
Fluid off-chain Merkle rewards incident.
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Ethereum creator Vitalik Buterin published a research post proposing a design for synthetic assets and algorithmic stablecoins, using options as the base primitive to replace debt and liquidations in DeFi. The design splits ETH into long and short exposure assets tied to a strike and maturity, removing the need for real-time oracles.
Gnosis Pay disclosed a bug in its delay module, the component that sits between the Gnosis Pay card and the underlying Safe wallet. Users were urged to withdraw funds, the Gnosis Chain bridge was temporarily disabled by bridge validators as a precaution, and Gnosis co-founder Martin Köppelmann confirmed all impacted funds will be reimbursed.
Fluid disclosed a compromise of its off-chain Merkle rewards distribution infrastructure. An attacker submitted fraudulent Merkle roots, drained an estimated 125,000 FLUID and 51,900 GHO on May 28, 2026, and routed proceeds through Tornado Cash, according to YAM. The Fluid team stated the core protocol smart contracts are unaffected.
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Gnosis Pay Delay Module Hack
Gnosis Pay disclosed a bug in its delay module, and temporarily disabled the Gnosis Chain bridge as a precautionary measure.
Gnosis Pay disclosed a bug in its delay module, the component that sits between the Gnosis Pay card and the underlying Safe wallet. Gnosis Pay is a payments network that issues Visa debit cards linked directly to self-custodial Safe wallets, allowing users to spend crypto at any Visa-accepting merchant. Users were urged to withdraw funds from their Gnosis Pay card to their wallet.
Gnosis co-founder Martin Köppelmann confirmed the hack and said that all impacted funds will be reimbursed. As a precautionary measure, the Gnosis Chain bridge was temporarily disabled by bridge validators while the issue was investigated. No official all-clear has been issued as the incident is still developing.
ETHConf lands in NYC June 8-10, bringing together 5,000+ attendees, 150+ speakers, and 100+ companies across Ethereum, stablecoins, and institutional adoption.
Get your tickets at ethconf.com and use code ETHDAILY for 30% off General and 20% off VIP.
Disclaimer: Content is for informational and educational purposes only and does not constitute financial, investment, legal, or other professional advice. No representations or warranties are made as to accuracy, completeness, or timeliness. Use of this content is at your own risk, and you should consult a qualified professional before making decisions. No fiduciary or advisory relationship is created
Fluid disclosed a compromise of its off-chain Merkle rewards distribution infrastructure. According to YAM, an attacker was able to submit and approve fraudulent Merkle roots across Fluid's off-chain rewards distribution contracts. The attacker drained an estimated 125,000 FLUID and 51,900 GHO on May 28, 2026.
The attacker then swapped the tokens, bridged proceeds, and routed ETH into Tornado Cash. The Fluid team stated that the core protocol smart contracts are fully safe and unaffected, as the incident only pertained to a rewards distribution contract. A detailed post-mortem will be shared in the coming weeks.
Fluid most recently extended its aWETH redemption protocol to L2 following the KelpDAO and LayerZero exploit that froze Aave markets in April.
ETHConf lands in NYC June 8-10, bringing together 5,000+ attendees, 150+ speakers, and 100+ companies across Ethereum, stablecoins, and institutional adoption.
Get your tickets at ethconf.com and use code ETHDAILY for 30% off General and 20% off VIP.
Disclaimer: Content is for informational and educational purposes only and does not constitute financial, investment, legal, or other professional advice. No representations or warranties are made as to accuracy, completeness, or timeliness. Use of this content is at your own risk, and you should consult a qualified professional before making decisions. No fiduciary or advisory relationship is created