SEC is working on new rules to tackle crypto securities, which Chair Atkins believes have great potential.

SEC chair Paul Atkins unveils plans to remake rules on crypto securities

Decentralized finance (DeFi) protocol Curve Finance has warned that a hacker 
has again hijacked its domain name system (DNS), sending users to a malicious 
website. 
In the second attack on its infrastructure in a week, the &#8220;curve.fi DNS might 
be hijacked. Don&#8217;t interact!&#8221; the team said in a May 12 warning to X.
In a follow-up post to a user asking whether it was a hack or a hijack, the 
Curve Team said the website &#8220;Points to the wrong IP&#8221; when users try to visit. 
A DNS works like a directory that translates domain names into IP addresses.
_Source:__Curve Finance_
The team also said in another update that the &#8220;Password is secure,&#8221; its two- 
factor authentication was set up a &#8220;long time ago,&#8221; and a question has been 
sent to the &#8220;registrar now.&#8221; 
&#8220;While all smart contracts are safe, the domain name points to a malicious 
site which can drain your wallet! We are investigating and working on 
recovering the access. No sign of a compromise on our side,&#8221; Curve said.
Curve Finance was hit with a similar front end attack in August 2022. In a 
post-mortem, the consensus was that the attackers managed to clone the Curve 
Finance website and reroute the DNS server to the fake page.
Users who attempted to use the platform had their funds drained into a pool 
operated by the attackers.
Cointelegraph has contacted Curve Finance for comment.
## Curve Finance potential front-end attack
Onchain security firm Blockaid also detected unusual activity from the Curve 
website recently, warning users to stay away and avoid interacting for now.
It could be a case of a &#8220;potential frontend attack,&#8221; according to the security 
firm, which is when hackers target the part of the website users interact 
with, such as the buttons, forms, or text on the site, to steal sensitive 
data.
_Source:__Blockaid_
&#8220;If you&#8217;re connected, please refrain from signing transactions and avoid 
interactions with the DApp until the issue is resolved. We&#8217;re working closely 
with affected partners. More updates soon,&#8221; Blockaid said.
_**Related:**__**Crypto hackers hit DeFi for $92M in April as attacks double 
from March**_
## Second attack in a week
This is the second time Curve Finance has been targeted in the last week. On 
May 5, a hacker took over the official X handle.
&#8220;To clarify: the incident was limited strictly to the X account. No other 
Curve accounts were affected. No security issues were found on our side, no 
user funds were impacted, and there were no victims of phishing links that the 
hacker posted,&#8221; the team said in a follow-up May 6 post.
_Source:__Curve Finance_
Access to the Curve Finance X account was restored quickly, and the cause is 
still under investigation.
A slew of other high-profile X accounts have also been taken over by bad 
actors this year. On May 2, the Tron DAO account was hijacked; meanwhile, on 
April 15, a member of the UK&#8217;s Parliament, Lucy Powell, had her account taken 
over to promote a scam crypto token called the House of Commons Coin (HOC).
_**Magazine:**__**Financial nihilism in crypto is over &#8212; It&#8217;s time to dream 
big again**_

Curve Finance warns its DNS has been hijacked again

Crypto breaks into Wall Street’s top tier as Coinbase becomes the first 
digital asset firm added to the S&amp;P 500, signaling a seismic shift in 
financial market legitimacy. Coinbase Makes History With S&amp;P 500 Inclusion S&amp;P 
Dow Jones Indices, a division of S&amp;P Global (NYSE: SPGI), announced on May 12 
that Coinbase Global Inc. (Nasdaq: […]

Coinbase Joins S&P 500, Setting Stage for Massive Institutional Crypto Shift

PEPE token is hogging the headlines, and for the right reasons. The meme coin, 
defying the odds, has gathered the right amount of steam to spring back to 
life. PEPE surged 16% today, closing a Cup &amp; Handle chart pattern that enabled 
it to recuperate and improve on previous setbacks. Speculators rushed in, 
pushing spot trading volume to nearly $4 billion. That outpaced Dogecoin’s 
$2.84 billion by about $1.10 billion. Related Reading: Bitcoin’s Grip Loosens: 
Market Expert Says Dominance Has Hit Its Ceiling Among top trading coins, 
$Pepe ranked No.5 in terms of trading Volume. marked 3.9B today. We are back. 
pic.twitter.com/uCvvppO7aG — M Barbara🐸 (@Barbara_KVH) May 9, 2025 Meme Coin 
Volumes Spike According to data, PEPE&#8217;s smart-contract trades reached $5.74 
billion in derivatives today. That is up 280% from yesterday. Dogecoin 
continues to dominate futures with $6.60 billion volume and a solid Open 
Interest funding rate—the highest since February 2025. DOGE shorts lost $14 
million in liquidations, which is about $3 million less than losses for PEPE 
shorts. Whale Activity Catches Attention As per on-chain analysts at 
LookOnChain, a single large wallet added 500 billion PEPE tokens worth $4.36 
million. Only a few days ago, the same wallet scooped up another 500 billion 
at $4.54 million. This whale just bought 500B $PEPE($4.36M) again and 
currently holds 2T $PEPE($17.42M).https://t.co/lj4QaP0DUW 
pic.twitter.com/sx7hOqkcKG — Lookonchain (@lookonchain) May 8, 2025 Now, this 
whale owns 1.5 trillion tokens worth approximately $18.6 million at today&#8217;s 
rate of $0.0000123. Such transactions can drive prices higher, but can also 
spark sudden sell-offs. On-Chain Indicators Send Mixed Signals Latest data 
indicates Chaikin Money Flow on the PEPE/USDT pair went positive on May 6, 
2025. That suggests cash is flowing back into the coin as geopolitical 
tensions subside. However, network growth indicators remain down. Fewer new 
wallets are entering the PEPE party. In other words, the rally might be more 
fueled by large traders swapping bags rather than new users piling in. Supply 
Overhang May Weigh On Gains The overall supply of PEPE is around 420 trillion 
tokens. That&#8217;s a massive amount. Even a fraction of that selling off could 
swamp exchanges. Coins with tighter supplies don&#8217;t require as much buzz to 
maintain their price. PEPE has risen by over 112% this month, but big supplies 
mean big gains can turn just as quickly. Bitcoin Boost Fuels Retail Interest 
Meanwhile, Bitcoin surged over $104,000 today. That level tends to attract 
more retail traders into the market. If retail is confident, they go after 
smaller coins afterwards. That might drive PEPE higher if traders believe that 
the meme rally has legs to it. But it also increases the risk of a sharp 
pullback if Bitcoin loses steam. Related Reading: Bitcoin Stays Resilient 
While Wall Street Stumbles – Details What Investors Should Watch Price action 
on meme coins can fluctuate wildly. Large volumes and whale purchases fuel 
headlines but do not always mean sustained growth. Look for changes in open 
interest, new wallet activity, and any adjustments in Bitcoin&#8217;s price. If PEPE 
stays above that Cup &amp; Handle breakout point, it might hang around. If not, 
today&#8217;s surge might be all the pleasant news we get. Featured image from 
Dejavusoul, chart from TradingView

PEPE Becomes Most Traded Meme Coin, Outsmarting DOGE With $4-B Volume

Aave, a decentralized finance (DeFi) protocol, has reached a new record of 
funds onchain, according to data from DefiLlama.
In an X post, Aave said it topped $40.3 billion in total value locked (TVL) on 
May 12. Onchain data reveals that Aave v3, the latest version of the protocol, 
has approximately $40 billion in TVL.
Aave is a DeFi lending protocol that lets users borrow cryptocurrency by 
depositing other types of cryptocurrency as collateral. Meanwhile, lenders 
earn yield from borrowers.
&#8220;With these milestones, Aave is proving its dominance in the Lending Space,&#8221; 
DeFi analyst Jonaso said in a May 12 X post. TVL represents the total value of 
cryptocurrency deposited into a protocol&#8217;s smart contracts.
_Aave v3 &#8216;s TVL over time. Source: __DeFiLlama_
 _**Related: AAVE soars 13% as buyback proposal passes among tokenholders**_
## Breaking all-time highs
In December, Aave achieved an all-time high TVL largely because the price of 
Ether (ETH) rose roughly 60% from the prior month. Ether and its staking 
derivatives make up nearly half of Aave&#8217;s TVL, according to data from 
DefiLlama.
This time around, Aave&#8217;s all-time high TVL is also driven by inflows of 
deposits by users.
In Ether-denominated terms, Aave&#8217;s TVL rose from around 6 million ETH at the 
start of 2025 to nearly 10 million ETH on May 12. Measuring TVL in ETH 
accounts for the impact of fluctuating cryptocurrency prices.
_Aave says its net deposits broke $40 billion this week. Source:__Aave_
Before US President Donald Trump prevailed in the November election, Ether 
traded at less than $2,500. It peaked at almost $4,000 the following month, 
according to data from Google Finance.
In the past month, Ether has also clocked substantial gains, rising from 
around $1,500 per Ether 30 days ago to roughly $2,500 as of May 12, according 
to data from Google Finance.
The price of Aave&#8217;s native AAVE (AAVE) token has risen approximately 25% in 
the past seven days, reflecting a buoyant crypto market and ongoing TVL 
inflows, according to data from CoinMarketCap.
_**Magazine: **__**Adam Back says Bitcoin price cycle &#8217;10x bigger&#8217; but will 
still decisively break above $100K**_

DeFi lender Aave reaches $40B in value locked onchain

OP_RETURN is a Bitcoin script opcode enabling users to embed small, 
unspendable data within transactions, striking a balance between functionality 
and network efficiency. A recent proposal to lift its 80-byte cap has ignited 
discussion over Bitcoin’s role as a data carrier versus a streamlined payment 
system. Understanding OP_RETURN: Bitcoin’s Data Carving Tool OP_RETURN, added 
in […]