Cork Protocol, a decentralized finance (DeFi) platform, was hit by a smart 
contract exploit on May 28, resulting in the loss of roughly $12 million in 
digital assets.
Cybersecurity firm Cyvers said the hack occurred at 11:23:19 UTC and was 
funded by an address ending in &#8220;762B.&#8221; According to the firm, the attacker 
used the exploit to steal roughly 3,761 Wrapped Staked Ether (wstETH), which 
was converted to Ether (ETH) almost immediately after the attack.
&#8220;We are investigating a potential exploit on Cork Protocol and are pausing all 
contracts. We will report back with more information,&#8221; Cork Protocol co- 
founder Phil Fogel wrote on X.
_Cork Protocol smart contract exploit details. Source:__Cyvers_
The Cork Protocol exploit is the latest hacking incident to impact the crypto 
industry as cybersecurity continues to be a major issue in the sector, 
lowering consumer confidence, and prompting calls to improve security measures 
from crypto industry executives.
_**Related:**__**Hacken CEO sees &#8216;no shift&#8217; in crypto security as April hacks 
hit $357M**_
## Cetus hacked for $223 million days ago
The Cetus decentralized crypto exchange (DEX), a trading platform built on the 
Sui network, was hacked on May 22, resulting in $223 million in stolen funds.
Sui validators froze a majority of the funds, sparking a debate about the 
centralization of the network and the appropriate course of action for 
blockchain validators following a major hacking incident.
The Cetus team announced a $6 million bounty for white hat hackers assisting 
in the return of the remaining stolen funds.
Blockchain security firm Dedaub released a post-mortem report dissecting the 
incident details. According to the report, the hack was caused by an exploit 
of the liquidity parameters used by the Cetus automated market maker (AMM).
The hackers manipulated the field by altering values that went undetected in a 
most significant bits (MSB) check. Changes to a binary code&#8217;s most significant 
bits dramatically alter the values produced by that binary code.
This allowed the hackers to add massive amounts of liquidity to the system 
with only a keystroke and drain other liquidity pools of hundreds of millions 
of dollars.
_**Magazine:**__**Weird &#8216;null address&#8217; iVest hack, millions of PCs still 
vulnerable to &#8216;Sinkclose&#8217; malware: Crypto-Sec**_

Cork Protocol, a decentralized finance (DeFi) platform, was hit by a smart contract exploit on May 28, resulting in the loss of roughly $12 million in digital assets. Cybersecurity firm Cyvers said the hack occurred at 11:23:19 UTC and was funded by an address ending in &#8220;762B.&#8221; According to the firm, the attacker used the &#8230;

Cork Protocol hacked for $12M, smart contracts paused

Goldman&#8217;s bullish S&amp;P 500 forecast may drive increased investment, but hinges 
on sustained earnings growth amid potential economic challenges.
The post Goldman Sachs raises S&amp;P 500 target to 8,000, sees 17% return for 
2026 appeared first on Crypto Briefing.

Goldman&#8217;s bullish S&amp;P 500 forecast may drive increased investment, but hinges on sustained earnings growth amid potential economic challenges. The post Goldman Sachs raises S&amp;P 500 target to 8,000, sees 17% return for 2026 appeared first on Crypto Briefing.

Goldman Sachs raises S&amp;P 500 target to 8,000, sees 17% return for 2026

U.S. President Donald Trump has appointed former Attorney General Pam Bondi to 
the Presidential Council of Advisors on Science and Technology (PCAST), a 
high-level artificial intelligence (AI) advisory body co-chaired by crypto 
advocate and former White House AI and crypto czar David Sacks. Bondi Joins a 
Panel Stacked With Tech Heavyweights Bondi is set to […]

U.S. President Donald Trump has appointed former Attorney General Pam Bondi to the Presidential Council of Advisors on Science and Technology (PCAST), a high-level artificial intelligence (AI) advisory body co-chaired by crypto advocate and former White House AI and crypto czar David Sacks. Bondi Joins a Panel Stacked With Tech Heavyweights Bondi is set to &#8230;

Trump Appoints Former Attorney General Pam Bondi to White House AI Advisory Panel

South Korea crypto trading falls to 8% of KOSPI volume as stocks rise, 
exchange activity slows and Bitcoin trades at a local discount.

South Korea crypto trading falls to 8% of KOSPI volume as stocks rise, exchange activity slows and Bitcoin trades at a local discount.

South Korea crypto trading crashes to one-tenth of stock market volume

China’s top court officials have signaled fresh scrutiny of cryptocurrency- 
related disputes after authorities said they would study judicial rules for 
cases involving virtual currencies and cross-border finance. According to 
comments made during a Wednesday press conference in Beijing, Liu Guixiang,…

China’s top court officials have signaled fresh scrutiny of cryptocurrency- related disputes after authorities said they would study judicial rules for cases involving virtual currencies and cross-border finance. According to comments made during a Wednesday press conference in Beijing, Liu Guixiang,…

China’s top judiciary studies new rules for virtual currency cases

The ECB&#8217;s call for enhanced cybersecurity investments highlights the urgent 
need for banks to adapt to evolving AI-driven cyber threats.
The post European Central Bank urges banks to boost cyber security investments 
as AI threats escalate appeared first on Crypto Briefing.

The ECB&#8217;s call for enhanced cybersecurity investments highlights the urgent need for banks to adapt to evolving AI-driven cyber threats. The post European Central Bank urges banks to boost cyber security investments as AI threats escalate appeared first on Crypto Briefing.

Cork Protocol hacked for $12M, smart contracts paused

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