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Crypto protocols have warned that an increase in AI use has led to a flood of bogus bug bounty submissions, putting a strain on teams trying to identify real threats to their protocols. Bug bounties are a system to reward “good” hackers for submitting reports about potential vulnerabilities and are popular in the crypto industry. AI has now made it easier to sift through large amounts of code to find possible bugs, though AI is also known to hallucinate. “AI is changing the way that bug bounty programs must operate,” said Barry Plunkett, co-CEO of Cosmos Labs, on Tuesday, responding to a…

Over the weekend, hackers stole more than $290 million in cryptocurrency from Kelp DAO, a protocol that allows users to earn yields on idle crypto investments.  By Monday, LayerZero, one of the projects affected by the hack, accused North Korea of carrying out the heist. The hack is now the largest crypto theft of the year so far, following an earlier hack at crypto exchange Drift in April that netted hackers around $285 million. Per its post on X, LayerZero said the hackers exploited Kelp DAO via its LayerZero bridge, which allows different blockchains to send instructions to each other.…

Alvin Lang Apr 22, 2026 06:51 Umbra disables its front-end to hinder hackers from laundering $280M stolen in the Kelp DAO exploit. Privacy protocols face scrutiny. Privacy-focused protocol Umbra has temporarily disabled its front-end website in an effort to thwart the movement of funds stolen in the $280 million Kelp DAO exploit. The move, announced on April 21, comes as attackers reportedly funneled $800,000 through Umbra’s protocol to aid in the laundering of stolen assets. Umbra, a stealth address protocol designed for privacy-preserving payments, stated the front-end shutdown is intended to support ongoing recovery efforts. “All the stolen funds moved…

Sullivan & Cromwell’s Andrew Dietderich said the company has AI policies to prevent incorrect citations and other errors, but procedures weren’t followed on this occasion.Wall Street law firm Sullivan & Cromwell has apologized to a federal judge after submitting a court filing that contained around 40 incorrect citations and other errors caused by AI hallucinations.“We deeply regret that this has occurred,” Andrew Dietderich, co-head of Sullivan & Cromwell’s global restructuring team, wrote Friday in a letter to Chief Judge Martin Glenn of the US Bankruptcy Court for the Southern District of New York.“The Firm and I are keenly aware of…

New York AG filed a lawsuit against prediction markets operated by Coinbase and Gemini. The Attorney General for New York filed a lawsuit against the prediction market arms of Coinbase and Gemini on Tuesday. The claim is that these platforms violate state laws against illegal gambling. According to the petitions filed in the state court in Manhattan, Attorney General Letitia James argues that both Gemini and Coinbase have not obtained New York State Gaming Commission licenses to operate these markets. The AG also says that the event contracts that the platforms allow users to bet on are “quintessentially gambling.” This…

A cross-chain bridge holding nearly a fifth of a restaked ether token’s circulating supply just got drained, and the fallout is moving through DeFi faster than Kelp DAO can pause contracts.An attacker drained 116,500 rsETH (restaked ether) from Kelp DAO’s LayerZero-powered bridge at 17:35 UTC on Saturday, worth roughly $292 million at current prices and representing about 18% of rsETH’s 630,000 token circulating supply tracked by CoinGecko.LayerZero is a cross-chain messaging layer, or the infrastructure that lets different blockchains send verified instructions to each other. Kelp DAO is a liquid restaking protocol, which takes user-deposited ETH, routes it through EigenLayer…

Traditional finance giants Charles Schwab and Citadel Securities are both considering entering prediction markets, with each separately weighing up how they wish to get involved in the fast-growing sector.“I think at some point we likely will have prediction markets,” Rick Wurster, the CEO of the banking and investing titan Schwab, told investors during a call on Thursday.He added that prediction markets weren’t “of tremendous interest” when he recently asked a group of Schwab clients about them, but it was an area the company would “take a hard look at, and it would be quite straightforward for us to offer.”Charles Schwab…

Make CryptoSlate preferred on Washington isn’t trying to solve every crypto policy fight at once, but it appears to be carving out a workable path for one specific category of digital asset: the regulated, dollar-pegged stablecoin.The GENIUS Act established the first federal regulatory framework for payment stablecoins, and a bipartisan House tax discussion draft now proposes friendlier tax treatment for those same tokens when people actually use them.Together, the two efforts point toward a deliberate, stablecoins-first lane in American crypto policy that could reshape how users, merchants, and issuers interact with digital dollars in the years ahead.What the stablecoin tax…

Charles Schwab wants in. So does Citadel Securities. Both are looking hard at prediction markets right now. But there’s a catch—neither firm plans to go anywhere near sports. The two financial heavyweights are exploring opportunities in prediction markets, carving out a niche that fits their DNA. They’re interested in forecasting economic data, stock movements, maybe interest rates. Things they already know cold. Sports betting? Not their game. The decision to skip sports entirely tells you plenty about how these firms see the space and where they think the real value sits for their clients and shareholders. Financial Forecasts, Not Football…

As of April 18, 2026, Polygon (POL) is trading around $0.09, up roughly 6.4% over the past week. The rebound is modest, but it comes at a critical moment. Beneath the surface, Polygon’s fundamentals are strengthening, driven by the rollout of sPOL and continued progress on the AggLayer, yet price action remains compressed within a long-term bearish structure. With the CLARITY Act markup expected in late April and a key FOMC decision days later, the next two weeks may define whether POL transitions into a breakout phase or slips back toward its lows.Technical Analysis: A Compression Ready to ResolveFrom a…