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Bunni DEX Shuts Down After $8.4 Million Exploit, as Zepz Unveils Sendwave Stablecoin Wallet

By
Paul Ugbede Godwin
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0

Decentralized exchange (DEX) Bunni, built on Uniswap V4 and known for its adaptive liquidity pools and incentive mechanisms, has officially ceased operations following a major security breach in September 2025.

The exploit drained approximately $8.4 million in assets—primarily USDC and USDT—across Ethereum ($2.4 million) and Unichain ($6 million), exploiting a logic-level flaw in the BunniHub smart contract’s withdrawal function related to rounding errors and faulty rebalancing logic.

Despite prior audits by firms like Trail of Bits and Cyfrin, the vulnerability allowed attackers to repeatedly withdraw more tokens than deposited, with stolen funds quickly laundered through Tornado Cash and bridged via Across Protocol.

In an announcement on X dated October 22, 2025, the Bunni team expressed regret over the decision, stating that the incident “halted [their] growth” and that insufficient resources—estimated at six to seven figures for necessary audits, monitoring, and relaunch efforts—made a secure revival impossible.

The platform’s total value locked (TVL) plummeted from over $60 million pre-exploit to near zero, underscoring the severity of the fallout. Bunni offered a 10% bounty for the return of funds, but received no response from the attacker.

Liquidity providers can still access and withdraw assets via the Bunni website until further notice. Remaining funds will be allocated to holders of BUNNI, LIT, and veBUNNI tokens based on a pre-exploit snapshot, excluding team members, pending legal clearance.

As a parting contribution, Bunni relicensed its v2 smart contracts under the MIT license, making features like liquidity direction functions (LDFs), surge fees, and autonomous rebalancing available to the broader DeFi community.

The team is cooperating with law enforcement for recovery efforts. This incident adds to 2025’s DeFi losses, exceeding $3.1 billion industry-wide, and highlights ongoing risks in cross-chain protocols.

The shutdown has sparked discussions on X about DeFi security, with users lamenting the loss of an innovative DEX while emphasizing the need for diversified liquidity and enhanced bug bounties. Associated protocols like Euler Finance confirmed no direct impact.

Coinbase Unveils Payments MCP for AI Agents

In a push toward “agentic commerce,” Coinbase launched Payments Model Context Protocol—a framework enabling AI agents from models like Anthropic’s Claude (Desktop and Code), Google’s Gemini, OpenAI’s Codex, and Cherry Studio to directly interact with crypto wallets, on-ramps, and stablecoin payments.

Built on the x402 standard an HTTP “402 Payment Required” revival co-developed with Cloudflare, it allows AI to autonomously handle on-chain transactions via natural language prompts, without requiring API keys or complex coding.

Users set up dedicated agent wallets using just an email, with built-in on-ramps in supported regions and configurable spending limits, approval thresholds, and session caps for security. Transactions run locally on desktops to prioritize privacy and speed.

Agents can pay for compute resources, access paywalled data, tip creators, or manage micro-business operations—bridging AI’s analytical power with crypto’s programmable money.

Each agent uses isolated funds no access to users’ main wallets, with Coinbase’s layered checks ensuring regulatory adherence. Future expansions include ChatGPT support once streaming compatibility is resolved.

Coinbase VP Dan Kim and engineering head Erik Reppel described it as empowering AI to “transact and do, not just read and write,” positioning stablecoins as the “machine-perfect” rail for machine-to-machine economies.

The tool is part of the x402 Foundation’s efforts to standardize AI payments, with early testing confirming seamless integration. On X, reactions highlight its potential to make crypto “invisible” in everyday AI use cases, though some note the need for robust safeguards against unintended agent actions.

This development signals accelerating convergence between AI and blockchain, potentially unlocking new use cases like automated DeFi strategies or frictionless global micropayments. For developers, Coinbase’s AgentKit toolkit provides framework-agnostic support to build on it.

Zepz Unveils Sendwave Wallet, A Stablecoin-Based Solution For Seamless Global Transactions

Zepz, the global payments group behind WorldRemit And Sendwave, has launched the Sendwave Wallet, a globally accessible stablecoin-backed peer to peer cross border money solution.

The new wallet allows users to send, store, and spend funds seamlessly across more than 100 countries, providing stable value, near-instant transfers, and low transaction costs within the Sendwave ecosystem.

At its core, the Sendwave Wallet is designed to simplify global money management for individuals and families. Its user-friendly interface enables customers to send funds as easily as sending a message, making it ideal for everyday needs such as supporting loved ones or covering essential expenses.

Through the wallet, customers can quickly open a digital dollar balance within the Sendwave app to send, receive, and deposit funds. These balances are securely held in a stablecoin pegged to the US dollar, ensuring stability and confidence for users managing cross-border finances.

Speaking on the launch the wallet, Mark Lenhard, CEO of Zepz, stated that the launch represents a major step forward in empowering financially active communities across the Global South. “The financial lives of cross-border communities are far more complex and personal than traditional remittance transactions. With Sendwave Wallet, we’re giving customers a trusted, intuitive way to control their money. This is about stability, choice, and dignity for the communities we serve”, he said.

The Sendwave Wallet leverages stablecoin technology to combine the benefits of digital currency with everyday usability. By using stablecoins such as USDC, customers can hold value securely and transfer funds in real time, without the volatility and complexity commonly associated with cryptocurrency wallets. The platform continues Zepz’s legacy of offering transparent and competitive exchange rates, while providing a safe store of value.

With the support of Zepz’s global payout network, users can withdraw their USDC funds through trusted partners, converting them to local currencies for essential needs like food, healthcare, and education. In the future, the wallet will enable customers to spend directly using payment cards or QR codes, expanding its functionality beyond traditional remittance use cases.

To bring this innovation to life, Zepz collaborated with several leading Web3 organizations, including Circle, the issuer of USDC; Solana, a high-speed blockchain network; and Portal, a provider of borderless wallet infrastructure.

Kash Razzaghi, Chief Commercial Officer at Circle, highlighted the importance of integrating USDC into the Sendwave Wallet. He said, “By making USDC central to the Sendwave Wallet, customers gain a secure way to hold value, send near-instantly, and spend with confidence. This is about putting trusted digital dollars directly into the hands of communities, helping them plan, save, and build financial resilience.”

Lily Liu, President of the Solana Foundation, also praised the collaboration, noting that Solana’s scalability and low-cost infrastructure make it ideal for powering global payments. “Zepz’s vision to make global transfers defined by unparalleled speed, unwavering security, and universal affordability can uniquely take place on Solana,” she said.

Looking ahead, Zepz plans to further expand the Sendwave Wallet’s capabilities by enabling users to earn rewards on deposits, make global card payments, and pay bills directly bridging the gap between digital assets and everyday financial life.

More than just a technological advancement, the Sendwave Wallet represents a commitment to financial empowerment and inclusion. By combining the stability of stablecoins with the accessibility of everyday money movement, Zepz is helping families preserve the value of their earnings while building stronger financial futures.

 

Hyperliquid Strategies Files S-1 Registration with US SEC For $1B IPO

By
Paul Ugbede Godwin
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0

Hyperliquid Strategies, a newly formed entity focused on building a crypto treasury around the Hyperliquid ecosystem, has filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) to raise up to $1 billion through a public offering.

The primary goal is to acquire and stake Hyperliquid’s native token, HYPE, to expand its treasury holdings, while also funding general corporate purposes. This move underscores growing institutional interest in decentralized derivatives platforms like Hyperliquid, which has seen explosive trading volumes—over $317 billion in October 2025 alone.

The filing was submitted on October 22, 2025, and the company plans to issue up to 160 million shares of common stock via a committed equity facility with Chardan Capital Markets as the financial advisor.

Post-merger, Hyperliquid Strategies is expected to hold over 12.6 million HYPE tokens valued at approximately $470 million, positioning it as the largest corporate holder of the token.

The company emerges from a pending reverse merger between Nasdaq-listed biotech firm Sonnet BioTherapeutics Holdings Inc. and special purpose acquisition company (SPAC) Rorschach I LLC, announced in July 2025. The merger is slated to close by the end of 2025, after which the entity will trade on Nasdaq under a new ticker.

Chaired by Bob Diamond former Barclays CEO and led by CEO David Schamis. Beyond HYPE accumulation, the firm intends to stake nearly all its holdings to generate ongoing rewards, enhancing shareholder value through yield generation in the Hyperliquid Layer-1 ecosystem.

This reflects a broader trend of public companies diversifying treasuries into altcoins beyond Bitcoin and Ethereum. HYPE is the native token of Hyperliquid, a decentralized perpetual futures exchange known for high-leverage, 24/7 trading.

Recent monthly unlocks and buybacks have influenced price stability, but institutional demand—fueled by Hyperliquid’s dominance in perps trading—has driven resilience. The announcement triggered a ~7-8% price surge in HYPE shortly after the filing.

HYPE’s price jumped 7.67% following the news, with increased trading volume and order book depth signaling bullish sentiment. The story broke rapidly on X, with posts from crypto news aggregators and influencers highlighting the raise’s potential to solidify HYPE’s ecosystem.

For instance, users noted the filing’s ties to liquidity and basis trading opportunities. While buybacks support price floors, token unlocks pose short-term volatility risks. Long-term, this could attract more traditional investors via Nasdaq listing and HYPE ETFs, bridging TradFi and DeFi.

Staking HYPE allows token holders to lock their tokens in the Hyperliquid protocol to earn rewards, contribute to network security, and participate in governance. Staked HYPE helps secure the Layer-1 blockchain by incentivizing validators or node operators to maintain network integrity.

Stakers earn yields, typically in additional HYPE tokens, derived from protocol fees (e.g., trading fees from the perpetual futures exchange). Staked tokens may grant voting rights for protocol upgrades or parameter changes, though specifics on governance are less detailed in public sources.

Staking contributes to the ecosystem’s liquidity by locking tokens, reducing circulating supply and potentially stabilizing price volatility. Rewards primarily come from a portion of the trading fees generated on Hyperliquid’s perpetual futures exchange, which sees massive volumes.

Yields are proportional to the amount staked and the user’s share of the total staked pool. Users can withdraw their staked HYPE after the lock-up period. There may be an unbonding period common in PoS systems to prevent sudden dumps, though Hyperliquid’s exact unbonding rules are not fully specified.

Hyperliquid Strategies, as noted in the $1B raise announcement, plans to stake nearly all of its 12.6M HYPE tokens (~$470M) post-merger. This strategy: Maximizes Yield: By staking a significant portion, the firm aims to generate ongoing rewards to enhance shareholder value.

Locking 12.6M tokens 1.26% of the 1B total supply could reduce sell pressure and support HYPE’s price. Institutional staking reflects long-term commitment to Hyperliquid’s ecosystem, potentially attracting more investors.

For entities like Hyperliquid Strategies, staking in a regulated context (e.g., Nasdaq-listed entity) may face scrutiny, though the SEC filing suggests compliance. Hyperliquid Strategies’ staking plan, alongside potential HYPE ETFs, could increase staking participation, tightening supply.

This development positions Hyperliquid Strategies as a pioneer in regulated crypto treasury management, potentially amplifying Hyperliquid’s growth in the $100B+ perpetuals market.

Nigeria’s Digital Lending Platform Lidya Shuts Down Operation Amid Financial Distress

By
Ojukwu Emmanuel
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0

Lidya, a Nigerian digital lending platform that empowered small and medium-sized enterprises (SMEs), has officially shut down operations due to severe financial distress.

In an email sent to customers, the company explained that despite efforts to restructure and sustain its business, it could no longer continue operations.

“Despite best efforts to restructure and sustain operations, the Company has encountered severe financial distress and is no longer able to continue in business. As a result, the Company has ceased all operations,” the email read.

A follow-up statement in the same message added, “Due to the Company’s financial status, it is unable to process funds or settle claims at this time.”

The announcement confirmed what many customers had feared for months. Long before Lidya’s shutdown email arrived, users across Nigeria had been struggling to access their funds.  Reports of financial troubles began surfacing as early as June 2025. Customers described a series of frustrating experiences, which included failed withdrawals despite confirmation messages, visible but inaccessible wallet balances, and support tickets that were ignored or automatically closed.

In some cases, the Lidya app displayed “technical maintenance” notices for weeks without resolution. What began as minor complaints on social media has eventually escalated into a full-blown crisis, following the company’s recent shutdown.

Founded in 2016 by former Jumia executives Tunde Kehinde and Ercin Eksin, Lidya emerged with a powerful mission to provide fast, data-driven loans to small businesses often overlooked by traditional banks.

Using artificial intelligence and alternative data sources such as bank statements, mobile money transactions, and even social media activity, Lidya approved loans in under 24 hours. Its model quickly gained traction.

By 2018, the company had disbursed over 50,000 loans in Nigeria and secured $6.9 million in Series A funding led by Omidyar Network and Alitheia Capital. The platform was hailed as a catalyst for SME growth in Africa, targeting a massive market where small businesses contributed half of GDP but accessed less than 5% of bank credit.

Then came the global leap. In 2019, Lidya stunned many Africa-focused investors by launching operations in Warsaw, Poland. The move aimed to test the scalability of its lending model, hedge against naira volatility, and appeal to European investors with a dual-market narrative.

Partnering with BNP Paribas Poland, the company built a localized lending platform and began targeting Polish SMEs facing similar credit challenges. Initially, the expansion appeared promising. By 2020, Lidya had raised $8.5 million from global investors including Accion Venture Lab and Bamboo Capital. Headlines celebrated it as “the first African fintech to successfully expand into Europe.”

But the success was short-lived. Cultural and regulatory differences, limited alternative data, and slow adoption among Polish SMEs hindered growth. The European venture soon became a financial drain rather than a profit driver. Lidya was reportedly burning around $1 million per month across its Nigerian and European operations, with neither achieving profitability.

By early 2025, financial pressure forced Lidya to halt lending operations in both markets. The company quietly shut down its Polish arm and stopped issuing new loans in Nigeria.

In a last-ditch effort to survive, Lidya launched Lidya Collect, a business-to-business (B2B) debt recovery platform designed to monetize its existing loan book and pivot to SaaS. Unfortunately, the pivot came too late. Users began reporting frozen wallets and failed withdrawals as early as June 2025. Customer support went dark, and the app was ghosted.

The shutdown marks the end of a nine-year journey that began with bold ambition. Lidya had once envisioned becoming the “Goldman Sachs of Africa,” expanding across two continents before collapsing.

Cryptomus Fined C$176.96M By Canada’s FINTRAC

By
Paul Ugbede Godwin
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0

Canada’s Financial Transactions and Reports Analysis Centre (FINTRAC) imposed a record-breaking fine of C$176.96 million approximately US$126 million on Xeltox Enterprises Ltd., the British Columbia-based company operating the cryptocurrency exchange Cryptomus formerly known as Certa Payments Ltd..

This penalty marks the largest ever issued by FINTRAC for violations of the Proceeds of Crime and Terrorist Financing Act (PCMLTFA), highlighting escalating regulatory scrutiny on Canada’s rapidly growing virtual currency sector.

FINTRAC identified multiple systemic failures in Cryptomus’s anti-money laundering (AML) and counter-terrorist financing (CTF) compliance program, including: Failure to Report Suspicious Transactions.

The exchange did not submit suspicious transaction reports (STRs) for 1,068 instances in July 2024 involving known darknet markets and virtual currency wallets linked to criminal activity. These included high-risk crypto transfers exceeding C$10,000 that should have been flagged under PCMLTFA requirements.

Between July 1 and December 31, 2024, Cryptomus failed to report 7,557 electronic funds transfers originating from Iran, in violation of sanctions reporting obligations. The company lacked complete and effective policies for ongoing client monitoring, “know-your-client” (KYC) verification, and risk assessments. This created vulnerabilities allowing potential exploitation by illicit actors.

Under PCMLTFA, crypto exchanges like Cryptomus are classified as money services businesses (MSBs) and must maintain records, verify client identities, and report specified transactions to FINTRAC to combat money laundering and terrorist financing.

FINTRAC emphasized that the virtual currency industry’s expansion amplifies risks of sanctions evasion and illicit finance, underscoring the need for robust compliance controls to protect Canada’s financial system. Industry observers note this fine aligns with a global trend of stricter enforcement, contrasting with generally improving compliance among other Canadian crypto operators.

The Proceeds of Crime and Terrorist Financing Act (PCMLTFA) is Canada’s primary legislation aimed at preventing money laundering and terrorist financing. Administered by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), it imposes specific obligations on regulated entities, including cryptocurrency exchanges classified as money services businesses (MSBs).

Registration with FINTRACMSBs, including crypto exchanges, must register with FINTRAC before conducting business. Registration involves providing detailed information about the business, its owners, and compliance officers, with renewals required every two years.

Compliance Program Entities must establish a robust anti-money laundering (AML) and counter-terrorist financing (CTF) compliance program, including: Appointing a Compliance Officer: A designated individual responsible for overseeing AML/CTF measures.

Written Policies and Procedures: Documented guidelines to detect, prevent, and report suspicious activities. Evaluate the risk of money laundering and terrorist financing based on clients, services, and geographic exposure.

Ongoing training for staff to recognize and handle suspicious transactions. Regular audits at least every two years to ensure the compliance program remains effective. Verify the identity of clients for transactions meeting specific thresholds using government-issued ID or other reliable documents.

Continuously monitor client activities to identify suspicious patterns or changes in risk profiles. Identify and apply enhanced due diligence for PEPs and their associates, who pose higher risks due to their influence.

Maintain detailed records for at least five years, including: Client identification documents. Transaction details such as amount, date, parties involved. Large cash transaction records of C$10,000 or more. Receipts of funds and account statements. Records must be readily accessible for FINTRAC audits.

Entities must submit specific reports to FINTRAC within prescribed Report transactions suspected of being linked to money laundering or terrorist financing, regardless of the amount, within 30 days of detection.

Report cash transactions of C$10,000 or more within 15 days. Report international electronic transfers of C$10,000 or more within 5 business days. Report transactions involving jurisdictions or entities subject to Canadian sanctions (e.g., transfers from Iran, as in the Cryptomus case).

Screen clients and transactions against sanctions lists. Report any transactions involving sanctioned jurisdictions or individuals immediately. For virtual currency transfers, MSBs must include originator and beneficiary information with the transfer, similar to traditional wire transfers.

Ensure receiving entities are compliant with equivalent regulations. Failure to meet PCMLTFA requirements can result in fines, as seen in the Cryptomus case C$176.96 million for multiple violations. Fines up to C$2 million, imprisonment up to 5 years, or both for willful violations.

Public naming of violators and potential loss of operating licenses. Cryptomus was fined for failing to: Submit 1,068 STRs for suspicious crypto transactions linked to darknet markets. Report 7,557 electronic transfers from Iran, violating sanctions rules.

Maintain an adequate compliance program, including KYC and risk assessment failures. The PCMLTFA ensures Canada’s financial system is protected from illicit activities, with crypto exchanges facing heightened scrutiny due to their vulnerability to misuse.

Earlier in 2025, Cryptomus was also banned from trading securities in British Columbia by the provincial regulator. No response from Cryptomus has been publicly detailed, but the penalty serves as a stark warning to the sector.

Countdown to Binance x BlockDAG AMA: $1 Goal Takes Center Stage as Ethereum Nears $8K and Sui Slides

By
TI Partners
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0

The crypto world is buzzing as three major names, BlockDAG (BDAG), Ethereum (ETH), and Sui (SUI), take center stage this week. Excitement builds for the Binance x BlockDAG LIVE AMA set for 3 PM UTC on Friday, drawing widespread attention toward the project’s $1 long-term target.

At the same time, Ethereum’s price outlook turns brighter thanks to large-scale institutional interest, with analysts expecting a possible climb toward $8,000. Meanwhile, Sui faces a tough stretch, losing its upward push as prices drop below the $3 level.

Together, these assets showcase three different market stories: steady progress, recovery, and resilience, and are now seen as the cryptos with the most potential moving into late October 2025.

Sui Faces Pressure as Decline Extends Below $3

The recent SUI price drop of 7.6% to $2.63 highlights growing selling activity. Despite occasional bounces, the coin trades below key averages: MA-20 ($3.11), MA-50 ($3.32), and MA-200 ($3.29). This consistent weakness shows limited short-term recovery chances.

Market data indicates strong trend strength from the ADX, but the MACD still signals bearish control, and the RSI stays deeply oversold under 30. These metrics often precede minor rebounds, though analysts suggest there’s less than a 20% chance of breaking past $3.32 unless buying pressure returns.

The main support zone sits near the Ichimoku Kijun at $2.13, a key level to monitor. If it breaks, Sui could face another pullback before stabilizing. However, the project’s strong DeFi integrations and network fundamentals suggest that once sentiment improves, Sui may rejoin the list of cryptos with long-term growth potential.

Ethereum Strengthens as $8K Ambition Gains Backing

Ethereum (ETH) continues its strong momentum after BitMine, a blockchain infrastructure firm, made a $1.5 billion purchase, securing around 379,000 ETH. This move has reignited confidence among major market participants, positioning Ethereum as one of the cryptos with the most potential for sustained growth.

Currently trading at $3,983, ETH has climbed 2.7% in the past day, pushing its market value to $469 billion. It has recently broken out of a long-term descending resistance trendline, which analysts view as a clear bullish signal. The setup resembles a bull flag, projecting an upside target near $8,022 if ETH holds above the $4,000 resistance area.

Indicators strengthen this view: the MACD shows a fresh upward crossover, while the RSI (55.48) reflects growing buying strength. Still, sustained gains depend on further institutional inflows and market-wide support. If both continue, Ethereum could play a key role in leading the next crypto cycle.

BlockDAG’s Binance AMA Spark Investing in Crypto Momentum

BlockDAG is hosting an exclusive Binance AMA this Friday, October 24, at 3 PM UTC, marking one of its biggest global highlights yet. The session will share insider updates, roadmap reveals, and insights ahead of Keynote 4: The Launch Note and GENESIS DAY.

With over $430M raised, BlockDAG invites the crypto community to tune in and see what’s next for its growing ecosystem. Use code “TGE” to boost rewards before the dashboard upgrade and price rise, while Batch 31 coins remain at $0.0015. Time is limited; secure your spot before momentum accelerates.

The project’s growth is undeniable. With $430M+ raised, over 27 billion BDAG coins sold, and a thriving base of 312K+ holders, BlockDAG continues to gain attention. Alongside these achievements, 20K+ physical miners have already been shipped, supported by a vast network of 3.5M+ X1 mobile app miners, each helping secure and expand the ecosystem.

Currently, presale coins in Batch 31 are priced at $0.0015, with market watchers predicting post-listing prices between $0.50 and $1.00. This wide gap represents strong potential returns for those exploring investing in crypto.

BlockDAG’s Buyer Battles leaderboard, which rewards active contributors, adds a social and competitive layer to the project’s presale phase. Beyond engagement, the network’s EVM compatibility allows smooth smart contract movement, while its Awakening Testnet showcases reliability and scalability using the Proof-of-Work + Proof-of-Engagement (PoE) model. This hybrid design ensures both high speed and decentralization as core features for modern blockchain growth.

As the Binance AMA nears, community discussions focus on upcoming announcements, including exchange readiness and future integrations. The project’s steady updates and open communication reinforce why investing in crypto through BlockDAG remains a growing trend in 2025.

Final Say: Investing in Crypto’s Biggest Week

This week is crucial for three key digital projects. Ethereum is backed by strong buying interest and a bullish setup pointing toward $8K, while Sui works to regain strength after a tough decline.

Yet, BlockDAG remains the standout story. With a $430M+ presale, 3.5M+ X1 miners, and the highly awaited Binance LIVE AMA, it continues to combine innovation, user engagement, and clear goals. Its hybrid structure, gamified Buyer Battles, and $1 target reflect why many now view investing in crypto through BlockDAG as a smart move.

As the countdown continues, BlockDAG shows that community trust, solid technology, and transparent growth can define the next major success in the crypto world by 2025.

 

Presale: https://purchase.blockdag.network

Website: https://blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

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