JPMorgan Chase, Bank of America and other major banks are reportedly exploring a shared stablecoin to keep pace with rising competition. Some of the biggest U.S. banks are exploring a plan to jointly issue a stablecoin as lawmakers move closer…

US banks plot joint stablecoin as regulation looms over crypto sector

Ethereum continues its strong upward momentum, surging into the $2,734 mark as 
bullish sentiment returns across the crypto market. After gaining over 55% 
since the beginning of May, ETH is showing clear signs of strength as it 
reclaims key technical levels. This move positions Ethereum as one of the most 
closely watched assets in the market, especially as Bitcoin holds firmly above 
its all-time highs. Related Reading: Ethereum Consolidates Above $2,500 While 
BTC Leads the Charge – Key Levels To Watch Top analyst Big Cheds shared a 
technical view, noting that ETH is now re-approaching the critical $2,700 
zone—a level that has historically acted as both resistance and a signal of 
trend continuation. A successful break and consolidation above this area could 
unlock the next leg up for Ethereum, potentially bringing higher prices back 
into focus for traders and investors. The broader sentiment remains 
optimistic, with bulls increasingly confident that ETH could lead a renewed 
altcoin rally if momentum sustains. However, analysts also caution that the 
$2,700 region must be cleared with strong volume and follow-through to confirm 
a breakout. Until then, Ethereum&#8217;s price action remains in a delicate 
position, teetering on the edge of a major rally or another round of 
consolidation. Ethereum Facing A Crucial Test Ethereum is positioning itself 
for a potential bullish recovery as it continues to consolidate above key 
levels after a multi-week rally. Since early May, ETH has gained over 55% in 
value, signaling renewed strength in the altcoin market. The recent breakout 
of Bitcoin to new all-time highs above $111K has triggered optimism across the 
board, setting the stage for a possible altseason. For that to happen, 
Ethereum must lead the charge with a clean breakout into higher territory. 
Currently, ETH is trading just below the $2,700 level, a key resistance zone 
that has historically acted as a major turning point for price action. 
According to Cheds, reclaiming $2,700 is crucial. A firm move above this 
threshold would likely confirm a bullish continuation, opening the door toward 
the $2,900–$3,000 range. So far, Ethereum has shown resilience, defending the 
$2,500–$2,600 zone effectively during the recent market consolidation. If 
bulls maintain control and volume increases, the breakout could materialize 
sooner rather than later. However, failure to push past $2,700 could trigger a 
new wave of hesitation, keeping ETH range-bound in the short term. As Bitcoin 
continues its upward trend, all eyes are now on Ethereum to see whether it can 
match that strength and lead the broader market higher. Related Reading: 
Ethereum Addresses In Profit Nearly Doubles Since April Lows – Volatility 
Returns ETH Price Action Details Ethereum is showing solid bullish structure 
on the 4-hour chart, consolidating just under the key $2,700 resistance level 
after a strong rally from early May lows. Price action is currently holding 
above the short-term exponential moving average (EMA 34) at $2,574, which acts 
as dynamic support. Meanwhile, the 50, 100, and 200 simple moving averages 
(SMAs) at $2,543, $2,443, and $2,109, respectively, continue to align in a 
bullish formation, signaling a healthy trend. Despite some volatility, ETH has 
consistently defended the $2,650–$2,670 region during recent dips, suggesting 
strong buyer interest just below resistance. Volume has remained steady, 
though not aggressive, which implies that bulls are cautiously optimistic 
while waiting for confirmation of a breakout above the $2,700 level. A 
decisive candle close above $2,700 could trigger the next leg up, potentially 
targeting the $2,850–$3,000 range. However, failure to push higher may lead to 
another test of support at $2,570 or even the $2,540 zone. Related Reading: 
Solana Multi-Year Uptrend Holds Strong – Analyst Sees SOL Breaking ATH This 
Year Overall, the chart structure favors the bulls, but a break and hold above 
resistance is needed to unlock further upside momentum. All eyes remain on 
this level as Ethereum aligns with the broader altcoin market&#8217;s expectations 
following Bitcoin’s breakout to new all-time highs. Featured image from 
Dall-E, chart from TradingView

Ethereum Climbs Back To $2,700 – Bulls Ready For A Breakout?

The US Department of Justice (DOJ) has filed a civil forfeiture complaint to 
seize more than $24 million in cryptocurrency from Rustam Rafailevich 
Gallyamov, a Russian national accused of developing the Qakbot malware.
According to a May 22 announcement, the DOJ unsealed charges against the 
48-year-old Moscovite with a federal indictment. Gallyamov is allegedly the 
malware developer behind the Qakbot botnet.
&#8220;Today&#8217;s announcement of the Justice Department&#8217;s latest actions to counter 
the Qakbot malware scheme sends a clear message to the cybercrime community,&#8221; 
said Matthew Galeotti, head of the DOJ&#8217;s criminal division.
_Screenshot of the indictment. Source:__US Department of Justice_
Galeotti highlighted that the DOJ is &#8220;determined to hold cybercriminals 
accountable.&#8221; He added that the department will &#8220;use every legal tool&#8221; to 
&#8220;identify you, charge you, forfeit your ill-gotten gains, and disrupt your 
criminal activity.&#8221;
_**Related:**__**Microsoft takes legal action against infostealer Lumma**_
## Over $24 million forfeited
US Attorney Bill Essayli for the Central District of California explained that 
&#8220;the criminal charges and forfeiture case announced today are part of an 
ongoing effort&#8221; to &#8220;identify, disrupt, and hold accountable cybercriminals.&#8221; 
He added:
&gt; &#8220;The forfeiture action against more than $24 million in virtual assets also 
&gt; demonstrates the Justice Department&#8217;s commitment to seizing ill-gotten 
&gt; assets from criminals in order to ultimately compensate victims.&#8221;
Assistant Director in Charge Akil Davis of the FBI&#8217;s Los Angeles Field Office 
said that Qakbot was crippled by the agency and its partners in 2023. Still, 
Gallyamov allegedly continued deploying alternative methods to offer his 
malware to potential partners.
_**Related:**__**Chinese printer maker spread Bitcoin stealing malware &#8212; 
Report**_
## Qakbot used in global ransomware attacks
Gallyamov allegedly operated the Qakbot malware as far back as 2008. In 2019, 
he allegedly used it to infect thousands of victim computers to establish a 
so-called botnet.
Access to computers that were part of the botnet was sold to others who 
infected them with ransomware, including Prolock, Dopplepaymer, Egregor, 
REvil, Conti, Name Locker, Black Bast and Cactus. In 2023, a US-led 
international operation disrupted the Qakbot botnet and malware.
At the time, over 170 Bitcoin (BTC) and over $4 million in USDt (USDT) and 
USDC (USDC) stablecoins were seized from Gallyamov. According to the 
indictment, he and his collaborators continued the activity after it was 
disrupted, adopting new techniques, including directly deploying Black Basta 
and Cactus ransomware.
_**Magazine:**__**Report on Crypto Exchange Hacks**_

US DOJ seizes $24M in crypto from accused Qakbot malware developer

## Understanding the Curve Finance DNS hijacking
_On May 12, 2025, at 20:55 UTC, hackershijacked the &#8220;.fi&#8221; domain name system 
(DNS) of Curve Finance after managing to access the registrar. They began 
sending its users to a malicious website, attempting to drain their wallets. 
This was the second attack on Curve Finance&#8217;s infrastructure in a week._
Users were directed to a website that was a non-functional decoy, designed 
only to trick users into providing wallet signatures. The hack hadn&#8217;t breached 
the protocol&#8217;s smart contracts and was limited to the DNS layer.
The DNS is a critical component of the internet that functions like a 
phonebook. It allows you to use simple, memorable domain names (such as 
facebook.com) instead of complex numerical IP addresses (like 192.168.1.1) for 
websites. DNS converts these user-friendly domain names into the IP addresses 
computers require to connect.
This is not the first time Curve Finance, a decentralized finance (DeFi) 
protocol, has suffered such an attack. Back in August 2022, Curve Finance 
faced an attack with similar tactics. The attackers had cloned the Curve 
Finance website and interfered with its DNS settings to send users to a 
duplicate version of the website. Users who tried using the platform ended up 
losing their money to the attackers. The project was using the same registrar, 
&#8220;iwantmyname,&#8221; at the time of the previous attack.
## How attackers execute DNS hijacking in crypto
_When a user types a web address, their device queries a DNS server to 
retrieve the corresponding IP address and connect to the correct website. In 
DNS hijacking, fraudsters interfere with this process by altering how DNS 
queries are resolved, rerouting users to malicious sites without their 
knowledge._
Fraudsters execute DNS hijacking in several ways. Attackers might exploit 
vulnerabilities in DNS servers, compromise routers, or gain access to domain 
registrar accounts. The objective is to change the DNS records so that a user 
trying to visit a legitimate site is redirected to a fake, lookalike page 
containing wallet-draining code.
Types of DNS hijacking include:
 * **Local DNS hijack:** Malware on a user&#8217;s device changes DNS settings, redirecting traffic locally. 
 * **Router hijack:** Attackers compromise home or office routers to alter DNS for all connected devices. 
 * **Man-in-the-middle attack:** Intercepts DNS queries between user and server, altering responses on the fly. 
 * **Registrar-level hijack:** Attackers gain access to a domain registrar account and modify official DNS records, affecting all users globally.
_**Did you know?** During the Curve Finance DNS attack in 2023, users 
accessing the real domain unknowingly signed malicious transactions. The back 
end was untouched, but millions were lost through a spoofed front end._
## How DNS hijacking worked in the case of Curve Finance
**When attackers compromise a website with DNS hijacking, they can reroute 
traffic to a malicious website without the user &#8216;s knowledge. **
There are several ways DNS hijacking can occur. Attackers might infect a 
user&#8217;s device with malware that alters local DNS settings, or they may gain 
control of a router and change its DNS configuration. They may also target DNS 
servers or domain registrars themselves. In such cases, they modify the DNS 
records at the source, affecting all users trying to access the site.
In the case of Curve Finance, the attackers infiltrated the systems of the 
domain registrar &#8220;iwantmyname&#8221; and altered the DNS delegation of the 
&#8220;curve.fi&#8221; domain to redirect traffic to their own DNS server.
A domain registrar is a company authorized to manage the reservation and 
registration of internet domain names. It allows individuals or organizations 
to claim ownership of a domain and link it to web services like hosting and 
email.
The precise method of the breach is still under investigation. By May 22, 
2025, no evidence of unauthorized access or compromised credentials was found.
_**Did you know?** DNS hijacking attacks often succeed by compromising domain 
registrar accounts through phishing or poor security. Many Web3 projects still 
host domains with centralized providers like GoDaddy or Namecheap. _
## How Curve Finance responded to the hack
_While the registrar was slow to respond, the Curve team took measures to deal 
with the situation. It successfully redirected the &#8220;.fi&#8221; domain to neutral 
nameservers, thus taking the website offline while efforts to regain control 
continued. _
To ensure safe access to the frontend and secure fund management, the Curve 
team quickly launched a secure alternative at &#8220;curve.finance,&#8221; now serving as 
the official Curve Finance interface temporarily.
Upon discovering the exploit at 21:20 UTC, the following actions were taken:
 * Users were immediately notified through official channels 
 * Requested the takedown of the compromised domain 
 * Initiated mitigation and domain recovery processes 
 * Collaborated with security partners and the registrar to coordinate a response.
Compromise of the domain notwithstanding, the Curve protocol and its smart 
contracts remained secure and fully operational. During the disruption of the 
front end, Curve processed over $400 million in onchain volume. No user data 
was at risk, as Curve&#8217;s front end does not store any user information.
Throughout the compromise, the Curve team was always available through its 
Discord server, where users could raise issues with them.
After implementing immediate damage control measures, the Curve team is now 
taking additional steps to prepare for the future.
 * Assessing and enhancing registrar-level security, incorporating stronger protections and exploring alternative registrars 
 * Investigating decentralized front-end options to eliminate dependence on susceptible web infrastructure 
 * Partnering with the broader DeFi and Ethereum Name Service (ENS) communities to advocate for native browser support for &#8220;.eth&#8221; domains.
_**Did you know?** Unlike smart contract exploits, DNS hijacks leave no trace 
onchain initially, making it hard for users to realize they have been tricked 
until funds are gone. It is a stealthy form of crypto theft._
## How crypto projects can deal with DNS hijacking vulnerability
_The Curve Finance attack is concerning because it bypassed the decentralized 
security mechanisms at the protocol level. Curve &#8216;s backend, meaning its smart 
contracts and onchain logic, remained unharmed, yet users lost funds because 
they were deceived at the interface level. This incident underscores a 
significant vulnerability in DeFi. _
While the backend may be decentralized and trustless, the front end still 
depends on centralized Web2 infrastructure like DNS, hosting and domain 
registrars. Attackers can exploit these centralized choke points to undermine 
trust and steal funds.
The Curve attack serves as a wake-up call for the crypto industry to explore 
decentralized web infrastructure, such as InterPlanetary File System (IPFS) 
and Ethereum Name Service (ENS), to reduce reliance on vulnerable centralized 
services.
To address the gap between decentralized backends and centralized frontends, 
crypto projects must adopt a multi-layered approach.
Here are various ways crypto projects can deal with this gap:
 * Minimize reliance on traditional DNS: They can minimize reliance on traditional DNS by integrating decentralized alternatives of DNS like the ENS or Handshake, which reduce the risk of registrar-level hijacks. 
 * Use decentralized file storage systems: Hosting frontends on decentralized file storage systems such as IPFS or Arweave adds another layer of protection. 
 * Implement domain name system security extensions (DNSSEC): Teams should implement DNSSEC to verify the integrity of DNS records and prevent unauthorized changes. 
 * Secure registrar accounts: Registrar accounts must be secured with strong authentication methods, including multifactor authentication (MFA) and domain locking. 
 * Train users: Educating users to verify site authenticity, such as bookmarking URLs or checking ENS records, can reduce phishing success rates. 
Bridging the trust gap between decentralized protocols and centralized 
interfaces is essential for maintaining security and user confidence in DeFi 
platforms.

What is DNS hijacking? How it took down Curve Finance’s website

Bitcoin broke all previous records over the past 24 hours, hitting a new all- 
time high of $111K. This is particularly remarkable if we remember that $BTC 
was still languishing around $75K in early April. This marks a 50% increase in 
under two months. $BTC’s newfound momentum seems to have rubbed off on other 
top cryptos as well, including Ethereum, Dogecoin, and Solana: $ETH is already 
up 45% in May, currently trading at around $2,570. $SOL is trading at around 
$177 after a +20% bump this month. $DOGE isn’t far behind, with gains of over 
30%; the coin is now trading at $0.2328. In this article, we’ll go over why 
Ethereum is at the helm of the current altcoin rally. We’ll also cover the 
best crypto to buy now to help you make the most of the new altcoin season. 
Ethereum Leading the Pack Bitcoin briefly brushed past the $109K mark after 
Trump was announced president. Soon after, though, the excitement died down, 
tariffs entered the chat, and the broader crypto market went into a sharp 
downtrend. By early April, Bitcoin plummeted to $75K. However, Christmas came 
early in May, with a sharp crypto reversal and no signs of stopping anytime 
soon. Ethereum, not Bitcoin, is at the forefront of this crypto rally, though. 
$ETH&#8217;s daily gains have beaten $BTC&#8217;s recently. The number of active daily 
users on Ethereum DEX has also jumped to 64,000, the highest in three months. 
What&#8217;s more, $ETH&#8217;s current DEX volumes of around $15B suggest increasing 
market participation in the coming months. The Ethereum Foundation has also 
launched the Trillion Dollar Security initiative, which aims to build a 
civilization-scale infrastructure. It plans to onboard billions of people, 
letting them store more than $1,000 on-chain. Institutions and governments 
could also store up to $1 trillion on a single contract. Security is at the 
forefront here; the 1TS project will analyze vulnerabilities in Ethereum’s 
security architecture and build an overview report. High-priority security 
issues will be addressed to make the security more transparent, further 
enhancing communication across the Ethereum blockchain. Increasing crypto 
prices and higher DEX participation are classic indicators of strong bull 
runs. We might still be sitting at the beginning of what could be a once-in-a- 
lifetime surge in the crypto market. If you don&#8217;t want to sit this one out, 
here are a few altcoins you can invest in right now to ride the wave. 1. MIND 
of Pepe ($MIND) – Best Crypto to Buy Now for Real-Time Crypto Investment 
Advice MIND of Pepe ($MIND) aims to make profitable crypto investing 
accessible to everyone. It plans to do so with its own AI agent, which is 
programmed to identify the best cryptos to invest in on your behalf. The $MIND 
AI agent is both autonomous and self-evolving, and it works by interacting 
with the crypto community on X. It first listens to all the unique biases and 
insights into crypto floating online. Then, it uses AI to join the dots 
between social trends, market sentiment, and on-chain activity to find out the 
next cryptos to explode. In addition to $MIND&#8217;s real-time, actionable crypto 
trading plays, you&#8217;ll also get early-bird access to the new crypto tokens it 
creates firsthand. It&#8217;s worth noting that time is running out. The presale 
already surpassed $10M and will be ending in just seven days. Now&#8217;s the moment 
to buy $MIND and grab the next big crypto coin for a low price of $0.0037515. 
Learn how to buy $MIND now to benefit from a potential 800% growth in its 
price in the next five years. 2. BTC Bull Token ($BTCBULL) – Best Bitcoin- 
Inspired Crypto to Buy in 2025 BTC Bull Token ($BTCBULL) has completely 
redefined what a Bitcoin-themed meme coin is. Unlike other cryptos that are 
Bitcoin lovers in name only, $BTCBULL wants to follow the king cryptocurrency 
through hell and high water. This new crypto is perfect for Bitcoin 
maximalists who&#8217;d like to make the most of the &#8216;digital gold rush.&#8217; That&#8217;s 
because in addition to seeing your $BTCBULL investment swell up with rising 
Bitcoin prices, you&#8217;ll also benefit from free $BTC airdrops. Each time Bitcoin 
crosses a new milestone for the first time (such as $150K or $200K), $BTCBULL 
holders who have stored their tokens in Best Wallet will automatically receive 
real $BTC rewards. Additionally, the developers have also planned to scrape 
off a part of the total BTC Bull Token supply with rising Bitcoin prices. So, 
every time Bitcoin sees a $50K gain in its price, a $BTCBULL token burn event 
will occur. Doing so will rapidly reduce the total number of available 
$BTCBULL tokens in a Bitcoin bull run, which would massively boost its demand 
and price as investors flock to purchase an altcoin that gives them free $BTC. 
Luckily for you, BTC Bull Token is currently in presale. It has raised over 
$6.2M at the time of writing, and you can buy each token for just $0.002525. 
Here&#8217;s how to buy $BTCBULL. 3. Trump Dinner ($DINNER) – Latest Trump-Centric 
Meme Coin Babe, wake up! Another Trump-based meme coin just launched! Trump 
Dinner ($DINNER) is the latest example of why betting on Donald Trump&#8217;s 
popularity among crypto degens could be a rather smart financial decision. 
This top trending crypto is based on a recent announcement on $TRUMP&#8217;s 
official website. It read that the top 220 $TRUMP token holders will be 
invited to an exclusive dinner gala with the president himself, and that, too, 
at his private Virginia golf club. What&#8217;s more, the top 25 $TRUMP holders will 
also be invited to an even more exclusive event. They&#8217;ll get a &#8216;special tour&#8217; 
and &#8216;private VIP reception with the President.&#8217; As the anticipation for this 
event builds, the crypto community has responded with $DINNER. This token is 
fresh off the oven; it launched just a couple of days ago but has already 
posted brain-melting gains. $DINNER is up over 15,000% since its launch, 
including a 1,000% gain in just the last 24 hours. This is $TRUMP all over 
again. The Best Crypto to Buy Now to Ride the Market’s Newfound Enthusiasm The 
rise of major cryptos like $ETH, $BTC, $SOL, and $DOGE is a telling sign that 
the coming weeks and months could be prosperous for crypto investors. To make 
the most of the upcoming rally, consider top altcoins like MIND of Pepe 
($MIND) and BTC Bull Token ($BTCBULL). Bear in mind that the crypto market is 
highly volatile and unpredictable. One wrong world event could send everything 
crashing down. We urge you to do your own research before investing. This 
article is not financial advice.

Ethereum Leads Altcoin Rally with Solana and Dogecoin – Best Crypto to Buy Now

U.S. stocks shed gains in early trading on Friday as investors sharply reacted 
to President Donald Trump’s fresh tariff threats against the European Union. 
The Dow Jones Industrial Average fell more than 480 points, and the benchmark 
index S&amp;P 500…