$150M Cosmos Vulnerability Patched

🔒 Significant Bug Averted

Massive Financial Risk: A critical bug in the Cosmos network was patched after discovery, potentially saving $150M from exposure to vulnerabilities.

Discovery by Asymmetric Research: The security firm Asymmetric Research, which contributes to the Wormhole protocol, discovered and reported the bug via HackerOne, enabling timely intervention.

Effective Bug Bounty Program: The prompt fix by the Cosmos development team showcases the effectiveness of the bug bounty program in identifying and mitigating risks. Read More.

️ On today's Top Picks:

  1. 💰 SEC to impose $5.3B fine against Do Kwon.
  2. 🔜 Aleo's final Testnet launching in May.
  3. 🪂 Renzo updates $REZ tokenomics & claim date
  4. 💸 Biden proposes 44.6% capital gains tax.

Read time: ⏰ 7 minutes

Crypto News

US DOJ argues CZ should spend three years in prison & pay $50M fine.

• ⭐️ US SEC asks court to impose $5.3B fine against Terraform Labs & Do Kwon.

Ripple $XRP files opposition to SEC's proposed $2B fines.

Hong Kong Bitcoin $BTC & Ethereum $ETH ETFs to start trading April 30th.

Samourai Wallet founders arrested & charged with money laundering.

OneCoin scheme leads to another person being charged for hiding source of funds.

Renzo $ezETH temporarily depegs following announcement of Renzo $REZ tokenomics.

Gitcoin Grants 20 is live on Arbitrum until May 7th.


Reya Network liquidity generation event (LGE) by Earndrop.

Safe introduces Safe{Pass} activity program where users can earn points for Safe interactions.

• ⭐️ Aleo states, "...launch a final testnet in May." in April community call.

Polymer Labs launches Polyverse Phase 2 for one week.

Movement Labs posts, "gmove. soon." on X.

Slingshot teases announcement with "Reloading" post on X.

Gitcoin Passport launches Stamp and score weight changes.


• ⭐️ Renzo updates $REZ claim date & tokenomics following community feedback.

Safe $SAFE token contract unpaused & now transferable.

Starknet Provisions portal allows pooled stakers & mislabeled StarkEx users to claim $STRK.

LayerZero posts, "...the timeline for TGE is drawing closer." on X.

Mode launches DevDrop NFTs that will be distributed to users.

Unicorn airdrops $UNICORN to Berachain Bit Bears & Honey Jar NFT holders.

Finance News

EU anti-money laundering bill passes final vote which will affect CEXs.

Russia to seize $440M from JPMorgan $JPM in connection with VTB lawsuit.

Goldman Sachs $GS & Bank of America $BOC shareholders reject CEO-Chair split proposals.

IBM $IBM to acquire HashiCorp $HCP in $6.4B deal amid Q1 2024 revnue missing expectations.

US FTC bans non-compete agreements in employment contracts.

US DOT requires airlines to refund automatically for canceled & delayed flights.

Security and Exploits

• ⭐️ Asymmetric Research discovers Cosmos ~$150M reentrancy bug that has now been patched.

SlowMist warns that Lazarus group is reaching out to targets via LinkedIn.

El Salvador Bitcoin Wallet suffers source code & VPN access leak.

Magpie Protocol advises users to revoke approvals for Magpie contracts due to exploit.

Token Unlocks

• Euler / 72.15K $EUL / ~$342K / APR 25
• Yield Guild Games / 16.69M $YGG / ~$15.7M / APR 27
• SingularityNET / 8.9M $AGIX / ~$8.8M / APR 28
• Optimism / 24.16M $OP / ~$60.4M / APR 29


Alliance receives strategic investment from Founders Fund.

Turnkey, a wallet infrastructure; raises $15M in Series A funding led by Faction & Galaxy.

Puffverse, a metaverse & cloud gaming platform; raises $3M in funding led by Animoca Brands.

Moso, an online shopping crypto rewards platform; raises $2M in Seed funding.

Uncharted, a crypto gamification layer; raises $1.7M in Strategic funding led by Shima Capital.

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. . .

That’s it for today’s edition! See you soon.

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