CFA Report Pegs US Crypto Fraud Losses at $80.7B

Wasabi Protocol, a DeFi platform, lost $4.55 million due to an exploit where attackers gained admin privileges. The exploit involved upgrading vaults to drain funds using the UUPS upgradeability pattern. Wasabi lacked timelock or multisig protection, leaving a single key in control.

DOGE's price has climbed nearly 10% over the past week, with open interest in DOGE futures reaching the highest level this year. Market observers believe various catalysts are contributing to the demand for the token, leading to an increase in active addresses and positive Grayscale flows.

Arthur Hayes believes Hyperliquid's foray into prediction markets, driven by the HYPE token, will offer users unique benefits compared to competitors like Polymarket and Kalshi. Hyperliquid's HIP-4 proposal introduces event trading with zero fees, aiming to leverage its large user base and advanced technology infrastructure.

Sen. Thom Tillis of the Senate Banking Committee hinted at a potential vote on the Clarity Act, a crypto legislation crucial for the industry's legalization in the US. The bill faces disputes, including the contentious issue of stablecoin rewards, delaying its progress.

Meta has introduced a crypto payment system allowing content creators in Colombia and the Philippines to receive earnings in USDC stablecoin via popular wallets like MetaMask and Phantom. The company clarified that they are not issuing a Meta stablecoin but utilizing Circle’s USDC, the second-largest stablecoin.

Alex Mashinsky, former CEO of Celsius Network, agreed to a $10 million settlement with the FTC, banning him permanently from the crypto industry. The settlement includes a suspended $4.7 billion judgment, with reporting requirements for 18 years.

Steak ‘n Shake's Chief MAHA Officer Michael Boes highlighted the positive impact of Bitcoin on the chain's business, leading to increased customers, cost savings, and menu improvements. By accepting Bitcoin payments, the company saw significant growth in same-store sales, outperforming competitors like McDonald’s and Taco Bell.

Over $1 billion has been stolen in 68 crypto hacking incidents in 2026, with three major thefts accounting for most losses. Security firms are struggling to keep up with the increasing number of hacks, which may be due to AI-powered tools exploiting vulnerabilities.

A suspicious trade on Hyperliquid's HOOD futures contracts, mimicking Robinhood's stock, raised concerns of insider trading. The wallets in question made profitable shorts before Robinhood's disappointing earnings report, sparking accusations of advance knowledge and potential regulatory scrutiny.

The Federal Reserve maintained its benchmark interest rate, expressing caution amid global economic uncertainty due to conflict in the Middle East. Bitcoin and Ethereum prices dipped following the announcement, with potential impacts on inflation and energy costs.