On May 15, Coinbase triggered the goal of a blackmail attempt in the quantity of $ 20 million after cybercriminals after cybercriminals in overseas support agents recruited to lick user data for social engineering fraud.
While lower than 1% of the monthly monthly users of Coinbase were affected, the expected renovation and reimbursement costs are between 180 and 400 million US dollars since the stock exchange promised to repay all phishing attackers.
Despite the attack on the third largest cryptocurrency exchange on the planet, investor's mood stays optimistic, whereby the Fear & Greed index stays firmly within the “Greed” zone over 69 in response to CoinmarketCap data.
Fear & Greed Index, 30-day diagram. Source: Coinmarketcap
With additional investor optimism, Coinbase was withdrawn on May ninth Bitcoin price over $ 1 billion, which marked the best net outflow, which was previously recorded in 2025, and analyst forecasts of a Bitcoin rally from supply shock shock.
Coinbase has an invoice of 400 million US dollars after an Insider -Phishing attack
Coinbase was affected by a blackmail attempt of $ 20 million after cybercriminals in overseas support agents for the leakage of user data, the corporate announced on May 15.
Coinbase said that a bunch of external players had bribed and coordinated with several customers -supporters to access internal systems and steal limited user account data.
“These insiders have abused their access to customer support systems to steal the account details for a small subset of shoppers,” said Coinbase, adding that no passwords, private keys, funds or coinbase prime accounts were affected.
Less than 1% of the monthly transactions of the users of Coinbase were affected by the attack, the corporate said.
After the attackers had stolen the information, they tried to blackmail Bitcoin (BTC) price 20 million US dollars from Coinbase so as to not have revealed the violation. Coinbase rejected demand.
Instead, the corporate offered a reward of 20 million US dollars for information that led to the arrest and conviction of the responsibility chargeable for the system.
Read on
1 billion US dollar Bitcoin leaves Coinbase in someday, while analysts warn of the availability shock
The institutional demand for Bitcoin is growing as a coinbase, the third largest cryptocurrency exchange worldwide, recorded the best day by day drains from Bitcoin on May 9, 2025.
On May 9, Coinbase experienced 9,739 Bitcoin price greater than 1 billion US dollars, which was withdrawn from the exchange, the best net outflow in 2025, in response to Bitwise director of European Research André Dragosch.
“The institutional appetite for Bitcoin accelerated,” added Dragosch in a post 13 times.
The drain occurred as a Bitcoin over $ 103,600 and just just a few days after the Weiße Haus was announced, a 90-day reduction in mutual tariffs between the USA and China, which loosened market concerns and increased a broader mood of the investors.
The 90-day suspension of additional tariffs removed the danger of “sudden resumption”, which may support Bitcoin, old coins and the broader stock market rally attributable to an improved riskyster, Aurelie Barthere, foremost analyst of Nansen, told Cointelegraph.
Read on
Defi lender AAVE achieves a worth of 40 billion US dollars, which is closed to Aufchain
According to Defillama, Aave, a decentralized financial protocol (DEFI) protocol, has achieved a brand new recording of Fonds Onchain.
In an X contribution, Aave said that on May 12, 40.3 billion US dollars were exceeded at the overall value (TVL). Onchain data show that Aave V3, the newest version of the protocol, has around 40 billion US dollars on TVL.
AAVE is a Defi -Kredit protocol with which user borrow cryptocurrency by putting other sorts of cryptocurrency as collateral. In the meantime, the lenders receive the return of borrowers.
“With these milestones, Aave proves its dominance within the loan room,” said Defi -Analyst Jonaso in a post on May twelfth. TVL represents the overall value of the cryptocurrency, which is stored within the intelligent contracts of a protocol.
Read on
SEC delays Solana ETF as decisions for Polkadot, XRP web chair
The US Securities and Exchange Commission (SEC) has returned its decision on a proposed Solana Exchange Fund (ETF), with the cryptocurrency industry watching the deadlines for the polkadot and XRP-based ETFs in June.
The SEC delayed its decision on the listing of Grayscale's Spot Solana (Sol) Trust ETF on the New York Stock Exchange (NYSE) until October 2025, in response to a submission of the securities regulation on May 13.
The decision got here the week after the SEC moved its decision on the Litecoin (LTC) ETF from Canary Capital, the Bloomberg Intelligence -Analyst James Seyffart wrote in a post on May 5.
Spot ETFs are necessary drivers for liquidity and institutional introduction of digital assets. For Bitcoin, the USSPOT -Bitcoin ETFs made up for 75% of the brand new investments after the beginning, which BTC recaptured the $ 50,000 in February 2024, one month after the ETFs debut.
While a Solana ETF may only create a fraction of the inflows of Bitcoin ETFs, it could increase the institutional introduction of Solana in the long run by offering investors a “regulated investment area” which will still attract billions of dollars in capital, Ryan Lee, chiefefinalyst at Bitget Research, said CoinTelgraph.
Read on
Starknet meets the decentralization of “level 1”, TOPS ZK-Rollups closed for the worth
The Scaling platform from Ethereum Layer-2 Starknet has reached a milestone for decentralized by Ethereum co-founder of Vitalik Buterin and is now the biggest roll-based network of zero-knowledge base attributable to the overall value.
Starknet said in a press release with a cointelegraph that, in response to a framework butterization defined in 2022, it had hit the “Stage 1” and implies that the network works with limited surveillance or “training wheels”.
Starket added that the framework was the “Gold Standard Onchain tool for analyzing Ethereum Skaling solutions”, and said that he had reached the milestone through changes equivalent to the creation of a security council and avoiding censorship.
While the system still enables the intervention of a security council, it has implemented a totally functional validity system that’s regulated by intelligent contracts.
Starknet is the one Layer 2-ZK-Rollup network that has reached level 1 today, and is the biggest ZK-rollup blockchain with a complete value of $ 629 million, shortly before ZKSync's $ 610 million, in response to L2Beat.
Starknet is the fifth largest layer 2 network in response to value, which has reached decentralization with fraud proof with the 4 optimistic roll-up-based level.
Read on
Defi market overview
According to data from CoinTelegraph Markets Pro and TradingView, a lot of the 100 largest cryptocurrencies after market capitalization ended the week within the green.
The Memecoin Dogwifhat (WIF), based in Solana, rose as the biggest gainer of the week over 43%, followed by decentralized exchange raydium token (Ray), which has increased by almost 19% last week.
Thank you for reading our summary of essentially the most effective Defi developments this week. Visit us next Friday to get further stories, insights and education in relation to this dynamically promoting space.
