Cena Distributed Autonomous OrganizationDAO

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Pump.fun regained control of its X account after a brief takeover by unknown attackers. Hackers briefly accessed the X page of the Solana meme launchpad, using the platform to promote scam meme tokens in a series of posts. Renowned blockchain investigator ZachXBT was the first to warn users about the breach, advising traders not to click any links or trade the meme tokens posted by the attackers. In one of the now-deleted posts, the hackers attempted to deceive investors into purchasing a fake Pump.fun governance token. The platform does not have a native token and only facilitates the quick creation of Solana-based cryptocurrencies. Pump.fun had fully regained control of its X account by the time of publication. It remains unclear if meme traders suffered any losses from the incident. This wasn’t the first social media hack orchestrated by the same bad actors, ZachXBT noted on his official Telegram channel. “The PumpDotFun X account compromise is directly connected on-chain to the Jupiter DAO Feb 2025 & DogWifCoin Nov 2024 X account compromises.” ZachXBT wrote. Several X accounts have been hijacked in recent months. Attackers typically take control of popular accounts, post fraudulent contract addresses, and attempt to steal funds from unsuspecting users. “It is likely not the fault of either the Pump Fun or Jupiter teams,” ZachXBT noted . According to the blockchain investigator, it’s likely a “ threat actor is social engineering employees at X with fraudulent documents/emails or a panel is being exploited.”

The crypto market is buzzing with Arbitrum (ARB), Sei (SEI), and XDC Network (XDC) are poised for massive growth, with game-changing innovations in scaling, decentralized trading, and trade finance Current price: $0.4069 Market cap: $1.79B Arbitrum maintains active involvement in blockchain innovation as an Ethereum layer-two scaling solution that uses optimistic rollups. The system handles most operations outside the Ethereum network but keeps its core features intact to deliver lower costs and decreased congestion. The native token ARB supports Arbitrum DAO governance functions that enable token holders to participate in Arbitrum decision-making processes. The DAO framework created by Offchain Labs for Arbitrum permits ARB token holders to vote on protocol updates and both funding selections and security council member choices. An ARB token airdrop initiated on March 16, 2023 sent 12.75% of the total tokens to early users as well as Dao communities operating in the ecosystem. ARB tokens became available during the March 23rd 2023 token generation event. Current price: $0.2695 Market cap: $1.25B Sei Network has developed optimized infrastructure for decentralized exchanges (DEXes) that provides specialist blockchain performance specifically for trading protocols. Sei functions as the initial sector-specific Layer 1 blockchain which targets to make trading operations faster and steadier by preserving protocol stability during exchanges. DEXes operate as fundamental trading platforms which enable asset exchange as well as NFT transactions and in-game merchandise swaps. The existing limitations within blockchain networks create scalability obstacles that affect operational continuity. Sei resolves trading difficulties through increased network reliability and lower downtime exposure while delivering fluid operations. The platform at Sei implements environmental sustainability measures to achieve carbon-neutral performance in its operational functions. The network’s development receives backing from alliances with different blockchain projects which secures its position among the ecosystem. Current price: $0.07693 DMarket cap: $1.2B XDC Network functions as an EVM-compatible blockchain that provides trade finance capabilities and supports real-world asset (RWA) tokenization. The network protects its transactions through Delegated Proof of Stake (DPoS) which creates an environment for rapid transactions while remaining secure and scalable. XDC Network users can create private side chains using its Layer-2 subnet system regardless of the mainnet security features they inherit. The XDC Network implements 300 masternode candidates who can participate in blockchain security but maintains 108 active validators protecting blockchain transactions as of January 6, 2025. For validator participation one must stake 10 million XDC tokens. XDC 2.0 brought enhanced Byzantine Fault Tolerance (BFT) and forensic monitoring systems when the network upgraded during Q4 2024. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

On Friday, Bybit was allegedly hacked by the infamous state-backed hacker organization Lazarus Group, which looted roughly $1.5 billion in ether (ETH) from the major cryptocurrency exchange. The hack was the largest in crypto history and represented over 60% of all crypto funds pilfered in 2024. Following the security breach, some of the industry’s most prominent figures suggested “rolling back” the Ethereum blockchain so that the stolen ETH is recovered and returned to Bybit and simultaneously prevent the North Korean government from using those funds to fund its nuclear weapons program. While rolling back the Bitcoin blockchain is technically possible, such a state transformation on Ethereum would be more complex as the chain has evolved significantly, with decentralized finance (DeFi) and cross-chain bridges. Nevertheless, any state change would require consensus and likely result in a controversial hard fork, attracting heavy criticism from the community. This would likely split the Ethereum blockchain into two networks, each with its own proponents. Most pointed to the massive 2016 hack on The DAO as an example when $60 million in ETH was successfully drained. The network proceeded with a coordinated hard fork, splitting the old network into two, and the new chain continued as Ethereum. The fork simply took the money back from the hacker by rewriting the Ethereum ledger. Mike Novogratz, the founder of crypto investment and research firm Galaxy Digital, commended Bybit for doing “a world-class job” of dealing with the hack. Novogratz is against a radical bailout-like hard fork, noting that the Lazarus Group has stolen Bitcoin (BTC) and plenty of other cryptos before. According to the billionaire, the 2016 fork was very different for the Ethereum ecosystem, likening it to a baby taking its first steps. “There will be and should be no ETH fork. Bybit, unfortunately, will take a hit until their funds are recovered if our governments ever press NK (North Korea). The community will freeze the accounts and we move on,” Novogratz added. The Galaxy Digital CEO urged world leaders to deal with the current risk presented by Lazarus. “It’s time world leaders do something about Lazarus.” The price of Ether slumped over 7% in seven hours following the hack, dropping from $2,830 to $2,668. The second largest crypto by market value was trading hands at $2,679 as of press time, CoinGecko data shows.

Arbitrum's plan to reinvest some of its Ethereum holdings in yield-bearing opportunities has run into a snag, with some delegates opposing the recommendations of its three-member Growth Management Committee (GMC). The GMC recommended that 7,500 ETH from Arbitrum's treasury be deployed to three decentralized finance protocols, none of which are Arbitrum-native. The committee proposed investing 5,000 ETH in liquid staking protocol Lido, in exchange for 5,000 wstETH (staked ETH) tokens, then investing the 5,000 wstETH in Aave V3 on Arbitrum to encourage borrowing and benefit from a planned incentive program involving Lido, Aave, Renzo, and Kelp. The final 2,500 ETH would be deployed to lending protocol Fluid's Arbitrum platform. The committee settled on the recommendations after reviewing proposals from 45 protocols, including Arbitrum-native protocols such as Dolomite, GMX, and Camelot. The GMC expects the wstETH deposits to generate 4.54% yield, with the Fluid allocation generating 1-2% native ETH yield and generating liquidity for the Arbitrum ecosystem. GMC members did not respond to requests for comment by publication time. "While the GMC wanted to venture further down the risk curve in order to increase yield, help bootstrap up and coming protocols, bolster Arbitrum native/aligned protocols, among other desires, it determined that a strong/conservative foundation for the DAO’s treasury strategy made the most sense until the DAO becomes more capable of actively managing positions," Entropy Advisors wrote in the proposal. #ARB #ArbitrumBOLD