Bitget confirms a $351.6M breach of exchange hot wallets.
Bitget detected unauthorized transfers on September 24 and suspended exchange withdrawals. The company says an attacker compromised a wallet-infrastructure backend and moved about $351.6M, but did not obtain private keys. Cold wallets and the separate self-custodial Bitget Wallet were unaffected, according to Bitget. Withdrawals were still suspended in the September 25 update.
Sources: theblock.co, x.com
Ethena adds tokenized stocks to its USDe backing strategy.
On September 25, Ethena announced plans to use Binance bStocks as tokenized stock holdings behind USDe, with equity perpetual futures used to offset stock-price changes. The change expands its existing strategy beyond crypto assets. This is an allocation plan, not a claim that every USDe is already backed by stocks.
Sources: theblock.co
KelpDAO files suit over an older rsETH bridge exploit.
Evercrest Technologies, the company behind KelpDAO, filed suit against LayerZero and its co-founder on September 24. It alleges that LayerZero endorsed the bridge configuration involved in an April exploit that took 116,500 rsETH, worth about $292M at the time. The lawsuit is new; the exploit is not. The allegations have not been established in court.
Sources: theblock.co, drive.google.com
The Fed proposes new stablecoin reserve rules.
On September 24, the Federal Reserve proposed rules under the GENIUS Act that would require payment stablecoin issuers to hold short-term Treasury bills or other highly liquid backing assets. The proposal also sets capital standards and an application path for supervised banks. These are proposed rules, not requirements already in effect.
Sources: theblock.co