The 79thVault team confirmed on X that the hacker who looted its 79AU liquidity pool and made off with over 16,000 BNB returned 92% of it (15,000 BNB), linking an on-chain transaction for the recovered coins. 79thVault plans to put the BNB back into its liquidity pool and permanently burn the LP tokens that result. The attack began on October 7 when an operator wallet pulled 2.01 million 79AU tokens out of the project’s PancakeSwap pool.

79thVault confirms receiving 92% of stolen funds

The perpetrator made seven transactions between 07:25 and 08:25 UTC to fully extract the funds and then sold them for BNB through roughly 95 trades. The pool’s USDT reserves dropped from about $15.2 million to $3.9 million. The sale of the 2.01 million tokens generated about 16,249 BNB, worth around $12.5 million. 79thVault blamed the hack on “weaknesses in account permission management” in its October 8 statement.

However, reports state that the 79AU contract held an OPERATOR_ROLE function capable of moving tokens from the pool and rewriting its reserves, and that permission was later revoked. Two incidents similar to the 79thVault refund have occurred in two weeks, showing that when the attacker can be identified and pressured, exchanges can recover their money.

Cryptopolitan reported that the NEAR Intents attacker sent back the entire $3.8 million stolen about a day after general manager Alex Shevchenko posted the attacker’s wallet addresses and a 48-hour ultimatum. “We have identified you, sir,” Shevchenko wrote. However, it is much more complicated to recover money from heists tied to state-linked actors. Bitget’s CEO Gracy Chen has stated that she is “not very optimistic” about recovering the $388 million stolen from her exchange last month.

She referred to the February 2025 Bybit hack, where only about 3.5% of roughly $1.5 billion was ever frozen. Chen said North Korea may be behind the Bitget breach. Cryptopolitan reported that Drift Protocol’s $285 million exploit was also linked to North Korean actors. More than six months later, a majority of the funds are still lost. Notably, much of it was laundered through Tornado Cash.

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The Network Economic Support Tokenomics (NEST) program is Lido DAO’s long-term solution to the growing distance between what the protocol earns and what its token is worth, which it has been warning about for months. Cryptopolitan reported that NEST is meant to run as an automated mechanism. It’s completely separate from the one-off proposal the DAO put forward in March to spend treasury funds directly on LDO. An annual revenue benchmark of $40 million (about $109,000 per day) has already been set by the company. If the protocol earns more than this baseline in a day, 50% of that extra income is sent to the NEST program to buy LDO.

Lido DAO targets $50,000 LDO per day cap

The platform mentioned that the program can only buy $50,000 worth of LDO per day, with a total annual cap of $10 million. Cryptopolitan reported that the previous system proposed by Lido’s Growth Committee would use up to 10,000 stETH from the DAO treasury, worth roughly $20 million at ether prices near $2,000, to accumulate LDO. The LDO-to-ETH price ratio was about 0.00016, representing a 70% decline from where it traded for most of the previous two years.

During that same period, the protocol’s net rewards had only dropped about 20%. The DAO also said its costs went down by 13% compared to the year before, and its fee rate increased to 6.11% from 5%. Lido holds the largest share of staked ether at around 23%. DefiLlama data also lists Lido’s total value locked near $17.8 billion against a market capitalization of roughly $252 million. Its annualized fees are around $693 million, and the annualized revenue is near $38 million.

There is barely enough on-chain liquidity to execute the plan. Only about $90,000 worth of LDO is available to buy within 2% of the current price. This means a single batch purchase of 1,000 stETH (worth roughly $2 million) would use up all available liquidity several times over, causing the price to spike sharply. To get around that, the proposal authorized buying LDO through centralized venues including Binance, OKX, Bybit, Gate, and Bitget, each offering more than $100,000 in depth, alongside on-chain routes such as CoW Swap, 1inch, and Uniswap.

The purchases are made in 1,000 stETH batches, each requiring its own governance step (an “Easy Track” motion) with a three-day objection window and a slippage cap of 3% below the reference price. The market reacted positively to the buyback scheme, with reports indicating that LDO rallied by roughly 30% in a month where it resisted a broader downturn in the DeFi market.

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The data from DefiLlama showed that among all centralized exchanges, OKX was the most dominant, recording net inflows amounting to nearly $454 million within the same week period. Bybit came in third place, accounting for about $116 million. Several Bitget’s key competitors have reported negative results. The largest cryptocurrency exchange, Binance, generated roughly $71 million in seven-day net inflows but experienced $695 million in net outflows over the last 24 hours. Gate.io lost some $56 million, while the same can be said about the outflow of $46 million at HTX and $83 million at Bitstamp.

Bitget records massive inflows amid Stocks 2.0 launch

Earlier on June 9, Bitget’s estimated seven-day inflow was at around $177 million, compared with $409 million for OKX and $161 million for Bybit. The discrepancy likely reflects the real-time nature of the data, as deposits and withdrawals continue settling throughout the day. Bitget launched the Stocks 2.0 program on June 4. This program allows users to trade tokenized versions of U.S. equities and ETFs using USDT, with assets issued through Reality, a licensed real-world asset (RWA) issuance platform.

The initial launch involved 36 tokens representing top-tier companies, including Apple, Amazon, Meta Platforms Inc., Tesla, Alphabet, NVIDIA, and Microsoft, along with the QQQ ETF. Bitget CEO Gracy Chen had revealed the intention to introduce about 500 U.S. stocks in seven days since its launch, accounting for “about 98% of trading volume.” Bitget added that the tokens will have a 1:1 economic value to the underlying stocks. Dividends will be settled in USDT, while stock splits and reverse stock splits will be adjusted automatically for the token holders.

Eligible stock tokens could also be used for margin trading, copy trading, and yield-generating products. The basic trading fee on the exchange is 0.1% with maker/taker fees of 0.05% for users who pay in BGB, the native token of Bitget. At the time when Stocks 2.0 was launched, the exchange was already attracting considerable inflows of money. According to the report published in mid-April, Bitget was generating inflows of around $571 million over a period of one week and placed first amongst centralized exchanges.

This suggests Bitget’s latest inflow momentum may not be solely tied to tokenized equities. Data signals also showed that Bitget is holding around $4.9 billion and $4.5 billion worth of total assets and clean assets, respectively, without counting Bitget’s token assets. Bitget is ranked sixth globally in terms of assets after Binance, OKX, Bybit, Bitfinex, and Robinhood. The open interest of Bitget in derivatives trading is estimated to be about $6.1 billion.

The open interest represents an average leverage ratio of about 1.35x. This ratio is lower than the leverage ratios of MEXC at 1.89x and Gate.io at 2.23x. According to Bitget’s June announcement, cumulative volumes for tokenized stock spot trades exceeded the $1 billion threshold by January 2026, accounting for about 89% of Ondo-issued tokenized stocks trading volume in December 2025. Both figures are based on data from company disclosures rather than third-party market-tracking services, leaving some doubts about the sustainability of growth.

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In the past day, RAVE has crashed by over 66%, and in total, wiped out 90% of its market capitalization in the past week. As reported by Cryptopolitan, the RAVE crash was expected, given the unrealistic valuation that crossed $10B within days. The RAVE rally was also considered unsustainable, eventually ending and sending the token to $0.55. RAVE is yet to return to its previous baseline, trading at around $0.30. However, the token may have lost more of its reputation after allegations of insider trading.

Rave token suffers crash amid calls for investigation into practices

The main instigator of the price crash was on-chain investigator ZachXBT. He called for an investigation based on suspicious trading patterns, aiming to claim a $10,000 bounty for discovering unfair trading practices. As a result, Binance, Bitget, and Gate started an investigation into RAVE trading and the cause of the massive pump. ZachXBT also announced his own whistleblower bounty of $25,000.

ZachXBT had also previously contacted Rave DAO, pointing out the highly concentrated ownership of RAVE tokens. As exchanges reacted to ZachXBT’s call, the Rave DAO team moved in to disclaim any intentional price manipulation. The project still claimed it had long-term intentions and had just recently started recruiting influencers and growing its mindshare. The team has warned that it intends to liquidate some of the tokens based on its roadmap.

ZachXBT noted some of the recent selling action was connected to team wallets, meaning the sellers made use of the over-inflated RAVE price. The selling did not stop even as RAVE lost over 90% of its value. ZachXBT intercepted more transactions coming from team wallets making Bitget deposits, as RAVE sank from $1 to $0.60. RAVE performed in a way similar to other token pumps, such as SIREN. According to ZachXBT, exchanges may need stronger protections against volatile assets, where market makers can create unrealistic price action.

In the past, tokens have managed to perform multiple pumps similar to that of RAVE. However, the assets were rarely investigated in detail, and traders expected the eventual crash. In the case of RAVE, the project increased its mindshare to 0.3%, a significant feat for the token. This also means the Rave DAO story will be taken as a cautionary tale. The token will now be traded with a much more cautious sentiment.

The other option is that RAVE may still cause short squeezes. The potential for the team to sell more RAVE may lead to opening short positions again. RAVE remains risky, causing around $15.4M in liquidations in the past 24 hours. In total, $8.94M in long positions were liquidated from traders betting on a recovery, while another $6.51M in short positions were liquidated due to short-term volatility.

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The exchange disclosed in its Q1 2024 report released on April 11 that its user base has grown to over 25 million on the trading platform and Web3 wallet. The report pointed out that the cryptocurrency in the first quarter of 2024 would be full of significant milestones and noted that February saw a powerful market recovery.

Bitcoin reached new highs while all the fuzz around Solana and advancements in artificial intelligence depicted the liveliness of the market. Moreover, Bitget listed 186 new tokens in this quarter. Significantly, on Solana, the memecoin Dogwifhat (WIF) registered a growth of more than 1000% in value, like the roll-up utility token Altlayer (ALT) upon listing on the platform.

In the meantime, the exchange’s native token, BGB, hit a new record high of $1.38, having risen more than four times in value in a year. Based on its BGB market capitalization, the market has an estimated value of $2.6 Billion. By the second quarter, Bitget is going to launch a new BWB token as the official cryptocurrency of its Web3 wallet. At the moment, an airdrop promotion is going on for this event.

A research conducted by CCData showed that in March, the market share of derivatives of a particular exchange grew by about 2.5%, which is the maximum growth amongst all the centralized exchanges. The study pointed out that Binance was leading in the top 12 derivatives exchanges, gaining a 47.0% share of the total volumes in the month. This was followed by OKX, which had a market share of 21.8% and Bitget which was recorded at 12.8%. Other futures and derivatives open interest within the period was also recorded by Binance, OKX, and Bitget, with these being 37.8%, 34.7%, and 104%, respectively.

Sizeable increase characterized the fund rates on these platforms observed by the researchers from CCData, followed by a setting in at an all-time high before stabilizing back at the beginning-of-the-month levels. This volatility was observed against a backdrop of positive market sentiment in almost all other directions, with Bitcoin coming within reach of its all-time high value. In March, the funding rate was generally positive, though it increased little by little, which was the sign of the leverage in the market.

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Bitget’s regulatory victory follows a similar triumph last month in Lithuania, underlining the firm’s commitment to offering secure, regulated services across the continent. Gracy Chen, Bitget’s Managing Director, elaborated, “Bitget has always been at the forefront of understanding the pivotal role of regulation in achieving mainstream adoption of cryptocurrencies. These successive registrations solidify our European footprint, allowing us to serve clients within a trusted and transparent framework.”

European expansion amid regulatory evolution

The crypto exchange’s latest milestone arrives against the EU’s evolving regulatory landscape. In anticipation of the imminent Markets in Crypto-Assets (MiCA) regulation, expected to take effect in July 2024, Bitget is strategically positioning itself to adhere to this landmark law.

Bitget’s commitment to a safe and compliant trading environment is exemplified by its robust compliance team, which has doubled over the past year. This dedicated team focuses on navigating the exchange’s licensing processes and facilitates its continued global expansion.

Under the watchful eyes of such a team, Bitget has managed to grow its user base to 8 million registered users from more than 100 countries. Simultaneously, the firm has bolstered its staff numbers by 30% in Q1 2023 and continues actively recruiting in various fields, including research and development, compliance, business development, operations, and customer support.

Bitget’s registration as a VASP in Poland is not just a strategic move for the company but also showcases Poland’s own progressive stance towards blockchain companies. Despite a general reluctance by traditional Polish banks to associate with crypto companies, Poland has introduced terms and conditions that allow these firms to operate legally. For instance, corporate crypto-related activities are VAT-exempt, and profits are taxed at a regular rate of 19%.

Overall, Bitget’s proactive regulatory approach reflects its commitment to promoting responsible, open access to digital assets globally. As regulatory landscapes continue to evolve and cryptocurrency becomes increasingly mainstream, it’s clear that Bitget intends to remain at the forefront of this new era of digital finance. The firm’s strategy highlights not only its dedication to maintaining high standards of compliance and regulatory oversight but also its ambitious vision for the future of cryptocurrency.

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According to a statement released by the exchange platform, Bitget has confirmed that it has fulfilled all the regulatory requirements and regional policies needed to function in Lithuania. The statement states that the company is now authorized to conduct its activities in the country.

Lithuania has made remarkable strides in integrating blockchain technology and cryptocurrency into its economy and has been identified as one of the fastest countries in Europe to adopt these technologies. The country’s supportive regulatory environment has attracted investors and businesses interested in leveraging its status as a hub for cryptocurrency and blockchain startups.

In 2022, Lithuania made significant efforts to position itself as a cryptocurrency hub, leading to a fivefold increase in the number of cryptocurrency company registrations. The surge in registrations is largely attributed to Estonia’s decision to revoke the registration of cryptocurrency exchanges within its borders. As a result, Lithuania has become an attractive destination for cryptocurrency businesses seeking a supportive regulatory environment to operate.

Recognizing an opportunity to attract cryptocurrency businesses, Lithuania took proactive measures to become an appealing location for them. The country’s efforts paid off, resulting in a significant increase in the number of cryptocurrency company registrations. Moreover, Lithuania is home to Bifinitey UAB, the payment service provider for the world’s largest cryptocurrency exchange platform, Binance.

BitGet affirms that Lithuania remains an excellent destination for crypto enthusiasts and businesses seeking to establish themselves and offer cryptocurrency-related services. Since its launch in 2018, BitGet has amassed 8 million users worldwide.

In June 2022, Lithuania tightened regulations for cryptocurrency-related businesses seeking registration within the Baltic state. The authorities proposed amendments to Anti-Money Laundering (AML) and counter-terrorism funding laws that would impose more stringent restrictions on exchange operators and the identification of their clients.

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