SDNY Arrests MEV-Boost Exploiters
Two brothers exploited a vulnerability in MEV-Boost software to counter-MEV $25 million from MEV bots.
The SDNY arrests MEV-Boost exploiters.
Cyber launches a social-focused L2.
Optimism introduces Blockspace Charters.
Relay now supports swaps across chains.
Harpie is an onchain security solution that protects your wallet from theft in realtime. Harpie helps you detect and block suspicious transactions before they execute, safeguarding your assets from malicious attacks and scams. Try Harpie for free at harpie.io/ethdaily.
The U.S. Attorney’s Office for the Southern District of New York arrested two brothers who exploited a vulnerability in MEV-Boost software to extract $25 million from MEV bots. The exploit, which occurred on April 2, 2023, allowed them to counter MEV sandwich-attacking MEV bots, resulting in the bots losing out on their MEV. The case has sparked controversy over why it is considered a crime to exploit MEV bots, while it is acceptable for MEV bots to sandwich attack users. The key issue in this case was the exploiters' use of false validator signatures to carry out the attack. The brothers face up to 20 years in prison if convicted of wire fraud.
Web3 social network platform CyberConnect launched its social-focused L2 chain on mainnet, named Cyber. Built on the OP Stack and launched via the rollup-as-a-service platform AltLayer, the new chain features a beta release for Plasma Mode, an alternative data availability solution designed to enhance scalability and further reduce costs. Users can now bridge to the Cyber and mint a commemorative Cyber New Era NFT. Cyber uses chain ID 7560, named after rollup improvement proposal 7560, The Cyber platform features universal identity CyberProfiles based on ERC-721, programmable and monetizable social interactions, and a self-custodial ERC-4337 compatible wallet.
Optimism introduced the Blockspace Charter, a new technical-focused framework for governing the Superchain. The framework aims to address the fragmentation of varying OP Stack-based chain configurations. A Blockspace Charter consists of technical inclusion criteria, governing policies, and precommitments to future upgrades. A Superchain Registry will outline which chains are part of the Superchain, ensuring transparency and accountability, with a beta registry set to onboard initial chains. Optimism will also implement an improved upgrade proposal process, which will now specify a Blockspace Charter on each upgrade. The first charter, the Standard Rollup Charter, will go live during Season 6 governance.
Relay, an instant liquidity solution for cross-chain bridging, now supports swaps across chains. Users can now swap between eight supported assets across 19 supported chains. By collecting an upfront fee, Relay directs prepaid gas fees to a relayer who executes the subsequent and final withdrawal transactions.
Worldcoin introduces its SMPC system
Sonne Finance suffers $20m exploit
Blast airdrop delayed until June
Base expands global onramps
Lens Introduces Lens Network
An EVM-compatible Validium chain built on zkSync’s ZK Stack.
Lens introduces Lens Network.
Dutch judges convict Alexey Pertsev.
Safe Wallet launches native swaps.
Liquity releases its V2 whitepaper.
Harpie is an onchain security solution that protects your wallet from theft in realtime. Harpie helps you detect and block suspicious transactions before they execute, safeguarding your assets from malicious attacks and scams. Try Harpie for free at harpie.io/ethdaily.
Lens Protocol, an open social-graph platform, introduced Lens Network, an EVM-compatible Validium chain built on zkSync’s ZK Stack. The network will launch in three phases, transitioning from Validium to Volition. Phase 1 establishes the Validium chain. Phase 2 introduces separate public and private Validium chains, using a data availability provider for public data and a self-secured data system for private transactions, verified using ZK proofs. Phase 3 combines ZK rollup and Validium solutions for enhanced security and user control. Validium enables ultra-low-cost transactions with offchain data availability, while Volition supports both onchain and offchain data availability at the transaction level. Lens Network will process financial transactions in ZK Rollup mode and social transactions in Validium mode. A Lens Improvement Proposal for Lens Network is currently up for community discussion.
Alexey Pertsev, a developer who helped write open-source code for Tornado Cash, was convicted of money laundering by Dutch judges and sentenced to 64 months in prison. Having already spent 8 months in jail awaiting trial, the time will count towards his sentence. The court also seized Pertsev’s personal car and crypto assets. The judges failed to understand the workings of immutable smart contracts and accused Pertsev of failing to prevent the privacy tool's use in criminal activities. Eléonore Blanc, an educator monitoring the trial, noted that the judge fully agreed with the prosecution. Even more baffling, the judge claimed Tornado Cash has no legitimate use.
Safe, the leading smart contract wallet, launched Native Swaps, a new feature that allows users to swap tokens directly within their Safe Wallet. The integration leverages CoW Protocol's intent-based mechanism. The swapping experience offers users MEV protection and human-readable transaction details. Native Swaps are now live on Ethereum mainnet and Gnosis Chain.
CDP-based borrowing protocol Liquity released its V2 whitepaper, unveiling a new iteration that introduces support for multi-collateral positions. Users will be able to mint a new stablecoin called BOLD against various collateral types, including liquid staking tokens. The V2 release also features user-set interest rates, protocol-incentivized liquidity, and interest rate delegation. Liquity will continue to operate without governance.
Degen Chain Suffers Block Reorg
A config change caused Degen Chain to stop processing batch postings for an extended period, leading to the reorg.
Degen Chain suffers a block reorg.
MoonPay supports Stand With Crypto.
Infinex reaches $45 million in TVL.
Applications open for the fifth EPF cohort.
Harpie is an onchain security solution that protects your wallet from theft in realtime. Harpie helps you detect and block suspicious transactions before they execute, safeguarding your assets from malicious attacks and scams. Try Harpie for free at harpie.io/ethdaily.
Over the weekend, Degen Chain, an L3 chain built on Arbitrum Orbit, experienced a significant block reorganization involving 500,000 blocks, impacting hundreds of user transactions. The reorg began on Saturday, May 11, at around 2:15 UTC from block 15043908. The issue was traced back to a custom configuration change implemented last week. A block reorg happens when multiple blocks are produced simultaneously, resulting in duplicate chains. Will Papper, Co-founder of Syndicate, which launched Degen Chain, informed users that the chain was temporarily down to address the issue and affected should resubmit their transactions.
MoonPay, a payments provider that facilitates fiat-to-crypto transactions, joined Stand With Crypto, a non-profit dedicated to crypto-policy advocacy. MoonPay's CEO, Ivan Soto, announced in a memo to employees posted on X that the company donated $1 million to the organization, as reported by The Block. The memo highlighted the need to support crypto initiatives in light of increasing regulatory pressure and the upcoming presidential election. Founded by Coinbase in 2023, Stand With Crypto aims to back crypto-supportive congressional candidates and promote innovation. Stand With Crypto has onboarded 480,000 crypto advocates and is targeting one million members by November.
Infinex, a CEX-focused front-end for Synthetix perps, has accumulated $45 million in TVL since opening for deposits this week. Users can now deposit USDC on any of the six supported chains to earn a patron NFT and a share of 377 million Infinex governance points. Deposits are locked for 30 days until the campaign concludes on June 13th. Infinex features embedded wallets, allowing users to onboard with a passkey stored locally on their device. A fresh key pair is generated for each account, which is used on the backend to automatically sign transactions. Additionally, users can add social recovery options via their Google Account, iCloud, or external EVM address.
The Ethereum Foundation is now accepting applications for the fifth cohort of the Ethereum Protocol Fellowship, an apprenticeship program that helps aspiring protocol contributors find their role in core development. The program will run from June through November. Members will have access to mentors from the core development community, a monthly stipend, and access to EthCC and Devcon. Applications close on May 26th. A Town Hall will take place next week.
Lido proposes the Lido Alliance
SEC approves Uniswap look-alike
Holograph launches HLG rewards
Embedded fee markets and ERC-4337
Lodestar v1.18.1 hotfix release
Dydx CEO steps down
Rollkit rollup framework