South Korea Proposes Fines for Hacked Crypto Exchanges

The post Wormhole Unveils W Token 2.0 with Enhanced Tokenomics appeared on BitcoinEthereumNews.com. Joerg Hiller Sep 17, 2025 13:57 Wormhole introduces W Token 2.0, featuring upgraded tokenomics, a strategic Wormhole Reserve, and a 4% base yield, aiming to optimize ecosystem growth and align incentives. Wormhole has announced a significant upgrade to its native token, unveiling the W Token 2.0. This upgrade introduces new tokenomics including the establishment of a Wormhole Reserve, a 4% base yield, and an optimized unlock schedule, marking a pivotal development in the ecosystem, according to Wormhole. The W Token Evolution Launched in October 2020, Wormhole’s W token has been central to the platform’s mission of creating a connected internet economy. The latest upgrade aims to enhance the token’s utility across more than 40 blockchains. With a capped supply of 10 billion, the W token supports governance, staking, and ecosystem growth, aligning incentives for network security and development. Introducing the Wormhole Reserve The Wormhole Reserve will accumulate value from both onchain and offchain activities, supporting the ecosystem’s expansion. As Wormhole adoption grows, the token will capture value through network expansions and ecosystem applications, ensuring that growth is directly reflected in the token’s value. 4% Base Yield and Governance Rewards Wormhole 2.0 introduces a 4% base yield for W holders who actively participate in governance. The yield, derived from existing token supplies and protocol revenues, is designed to incentivize active participation without inflating the token supply. Optimized Unlock Schedule Updating its token release schedule, Wormhole replaces annual cliffs with bi-weekly unlocks, starting October 3, 2025. This change aims to reduce market pressure and provide a more stable environment for investors and contributors. The bi-weekly schedule will span over 4.5 years, affecting categories such as Guardian Nodes and Community & Launch. Wormhole’s Future Vision With these upgrades, Wormhole aims to expand its role as…

The post Hacker behind the UXLINK attack loses $48 million to a phishing scam appeared on BitcoinEthereumNews.com. The UXLINK exploiter has been phished merely hours after the AI-powered Web 3 social platform’s multi-sig wallet had been breached. Lookonchain had reported on Monday that UXLINK’s multi-signature wallet was compromised, with funds drained across centralized and decentralized exchanges.  According to the blockchain analytics platform, the attacker was phished and lost 542 million UXLINK tokens, valued at approximately $48 million.  Interestingly, the hacker who attacked $UXLINK was targeted by a phishing attack and lost 542M $UXLINK($48M).https://t.co/Cp9QNHPE8Xhttps://t.co/M8tbPYAdiq pic.twitter.com/PxadIIfkDi — Lookonchain (@lookonchain) September 23, 2025 UXLINK had earlier admitted that its multi-sig wallet had been breached, and said that “a significant amount of crypto” was illicitly transferred, but most of them were frozen. “Our team is working through legal and compliant measures to ensure that the UXLINK token supply fully aligns with the rules stated in the whitepaper. The white paper remains the sole community consensus and standard for UXLINK’s token economy,” the project team wrote on X. UXLINK breach involved six wallets Security monitoring firm Cyvers Alerts flagged unusual activity early Monday on an Ethereum address linked to UXLINK. The account executed a delegateCall, removed the existing administrator role, and added a new multisig owner. After making the change, the hacker moved at least $4 million in USDT, $500,000 in USDC, 3.7 wrapped Bitcoin (WBTC), and 25 ETH. Onchain evidence also showed that the attacker sold UXLINK tokens on decentralized exchanges using six separate wallets. These trades netted at least 6,732 ETH, valued at roughly $28.1 million. Hours after pulling off the UXLINK exploit, the attacker themselves fell victim to a phishing scheme. Arbiscan onchain records show the loss occurred on Tuesday at around 02:15 UTC under the transaction hash 0xa70674ccc9caa17d6efaf3f6fcbd5dec40011744c18a1057f391a822f11986ee. Phishing attack on the UXLINK scammer. Source: Arbiscan. Two large transfers of UXLINK tokens were directed from the…

Tron's Justin Sun supports TRX's strategic treasury initiative. TRX prices rise, signaling short-term recovery, yet long-term climate is uncertain. Continue Reading