Welcome to the protocol, the weekly COINDESK envelope of the most important stories in the development of cryptocurrency technology. I’m Margaux Nijkerk, reporter in Coindesk.
In this number:
- Swissborg’s Sol Gane Wallet exploded for $ 41.5 million after the company’s API is compromised
- Ledger CTO warns about the NPM supply chain attack that hits 1b+ downloads
- Backpack opens the exchange of perpetuals regulated in Europe after the acquisition of EU FTX
- Polygon pos sees the delay in the purpose of the transaction, the patch in progress
Network news
Swissborg’s Sol Gan Billlet Exploited: Crypto Exchange Swissborg said around 192,600 sun ($ 41.5 million) It was stolen from an external wallet used exclusively for its Sol Gant strategy. The exploit arose from the committed application programming interface of a partner (API)A mechanism that allows software systems to communicate with each other, affecting a single counterpart, said the exchange in an X publication. It was not a trick of the Swissborg platform. The loss affected less than 1% of users and represented approximately 2% of Total Swissborg assets, the firm said. All other funds and strategies remain safe, and users’ balances within the Swissborg application are not affected. Sol earns redemptions stops while recovery efforts continue. Swissborg says it will cover any deficit, ensuring that there are no user losses. The company is working with computer pirates, security signatures and application of the law to recover funds. A complete incident report will follow once the investigations conclude. This exploit arrives in the middle of a strong increase in cryptography robberies, with more than $ 2.17 billion already stolen in 2025. Shaurya Malwa Read more.
Ledger Cto warns of the PNM attack: Charles Guillemet, Director of Hardware Technology Wallet Maker Ledger, warned in X that a large -scale supply chain attack was being carried out after an administrator of developer developer node packages of good reputation (NPM) The account was compromised. According to Guillemet, the malicious code, already pushed to the packages with more than one billion downloads, is designed to silently exchange the cryptographic wallet addresses in transactions. That means that unsuspecting users could send funds directly to the attacker without realizing it. Guillemet did not appoint the developer whose account, he said, was compromised. The incident underlines how deeply interconnected is the open source software and why safety lapses in developer tools can cheat in the cryptographic economy almost instantly. A day later, Guillemet shared that almost zero cryptographic users had been affected by hack. “NPM is a tool commonly used in software development using JavaScript, which facilitates the integration of packages for developers,” Guillemet said in a message to Coindesk. When an attacker compromises a developer’s account, he can slide a malicious code in widely used packages. “The malicious code tries to drain users by exchanging addresses used in transactions or general activity in the chain and replace them with the hacker address,” Guillemet added. – Margaux Nijkerk Read more.
Eu backpack leaves live after the acquisition of FTX EU: Backpack Exchange, a global cryptocurrency trade platform, said its European division, Backpack EU, is officially live. Operating from Cyprus and licensed under the Marco Mifid II of the European Union, the exchange is being positioned as one of the first fully regulated places in Europe to offer cryptographic derivatives, starting with perpetual future. “As far as I know, they will only be us and Kraken” in Europe that offers perpetual futures, said Armani Ferrante, CEO of Backpack, in an interview with Coindesk. The debut continues to the acquisition of FTX from backpack earlier this year. In January, the Rupty Estate Banking said that the sale of FTX EU to the backpack was not authorized. Since then, the problem has been resolved and, in April, the exchange began to distribute funds to the former EU clients of the FTX, fulfilling their promise to compensate the users affected by the collapse of the cryptographic empire of Sam Bankman-Fried. Backpack EU will provide users accessing more than 40 negotiation pairs with up to 10x leverage, the team said in a statement. The platform says it aims to provide retail and institutional merchants a entrance door compatible with advanced cryptographic trade products. The deployment also highlights the broader strategy of the backpack to rebuild confidence in digital assets after a series of exchange failures. – Margaux Nijkerk Read more.
The Polygon Post chain experiences the final delay: Polygon’s stake test chain is live, but transactions take more than usual to block, with a purpose that extends between 10 and 15 minutes of delay. The purpose is the guarantee that a transaction or piece of data is irreversible once confirmed and added to a block in the block chain. The Foundation said in an X publication that a solution has been identified and services and service providers are being implemented. The deceleration was linked to problems in some BOR/ERIGON nodes and RPC suppliers, according to the Polygon status page. Node reboots resolved the problem for many validators, while others had to go back to the last block finished before resinction, a shared state page. The interruption occurs weeks after the Heimdall V2 update of Polygon promised a purpose of 5 seconds through a modernized consensus battery. – Shaurya Malwa Read more.
In other news
- World Liberty Financial (WLFI)The cryptography protocol linked to Donald Trump and his family, the founder of Tron and the key investor, Justin Sun, the Blockchain address, which prevents it from transferring tokens WLFI. The measure affects 595 million WLFI tokens unlocked in the management, for a value of approximately $ 107 million at current prices, according to Arkham data. The action followed the direction linked to the sun making several outgoing transactions of WLFI tokens in the Ethereum block chain, including one for $ 9 million in the tokens, according to Blockchain data. Sun, in a publication translated into X, said that “the address only carried out some generic exchange deposit tests, with very low amounts, and then created the dispersion of the management, without implying any purchase or sale, which could possibly have no impact on the market.” In a subsequent statement, Sun urged WLFI team to unlock their tokens. – Sam Reynolds Read more.
- The Ethena decentralized finance protocol presented a proposal to broadcast the next Hyperliquid Stablecoin, joining a tender competition that has already attracted companies such as Paxos, Sky, Frax and Agora. The Token would be totally supported by the USDTB of Ethena, a stablcoin issued with Digital Digital Digital and fully backed by Buidl, the money background tokenized by the Giant of the Blackrock and Securitize Assets Administration. If adopted, Ethena promised that 95% of the net income of the USDH reserves would return to the hyperlichid ecosystem, according to the proposal. Ethena also said that it would cover the costs of migrating USDC trade pairs existing in hyperlycides to USDH to relieve adoption. – Kristzian Sandor Read more.
Regulatory and political
- Nasdaq, the exchange of the United States where the most important names in the technological sector list their actions, seeks to place actions in the block chain, asking the United States Stock Exchange and Securities Commission to bless their effort, even when others in the world of values are running towards the same objective of tokenization. If the presentation of the SEC is approved, the exchange of customers will choose the traditional route for commercial equities or do so with the mission of history actions. as the inherited method. The Nasdaq measure follows an effort for Robinhood digital brokerage to issue shares tokens for European clients in July, giving access to about 200 US actions and funds quoted in the stock market (ETF). Bringing actions and other real world assets to Blockchain Rails has been one of the innovations of the digital world, and competition has become fierce for traditional finance names and native cryptographic natives to make movements. – Jesse Hamilton Read more.
- President Donald Trump’s new cryptographic type, Patrick Witt, is collecting the witness of his predecessor, Bo Hines, to incite legislators to finish sweeping the cryptographic policies of the United States and push regulators to put into practice the new stable law. Working under the Cryptographic Tsar of the Administration, David Sacks, Witt is the new contact point for cryptography in the White House after the brief mandate of his predecessor, who worked for the giant stablecoin. While Hines saw the conversion of the stable effort of Congress and was able to attend the White House ceremony to consolidate it, he left shortly after, leaving a long list of cryptographic tasks for Witt. “There is no delivery here,” said Witt, who was elevated to work last month, only two weeks after the administration issued by his broad strategy strategy to address the policy of the United States. “We are keeping the metal pedal with all the different initiatives in the Legislative Front and the inter -institutional actions recommended in the report.” – Jesse Hamilton Read more.
Calendar
- September 22-28: Korea Bloquchain Week, Seoul
- October 1: Token2049, Singapore
- October 13-15: Digital Asset Summit, London
- October 16-17: Blockchain European Convention, Barcelona
- November 17-22: Devconnect, Buenos Aires
- December 11-13: Solana Breakpoint, Abu Dhabi
- February 10-12, 2026: Consensus, Hong Kong
- March 30-April. 2: ETHCC, Cannes
- May 5, 2026: Consensus, Miami
