Morning Edition · Friday, July 31, 2026Published at 1:29 AM EDT · New York
DeFi Exploit Drains Roughly $578,000 as Seoul Police Break Up $19 Million Staking Fraud
A reward-recycling manipulation drained a BNB Chain protocol while South Korean authorities arrested three people over a fake XRP staking platform, part of a steady series of mid-size crypto thefts.
Mid-size crypto theft continued over the past day. Security researchers at DeFiHackLabs published a proof-of-concept for the LULA exploit, a reward-recycle deflation-manipulation attack on BNB Chain that drained roughly 578,000 USDT. In thi…
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Part of a tracked trend
Bridge and Mint Exploits Sustain Heavy DeFi Losses
Over 3-6 months, recurring bridge proof-validation and unauthorized-mint exploits keep monthly DeFi losses elevated, including drains of deprecated contracts.
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