On May 15, the news came after Coinbase recruited overseas support agents to leak user data for social engineering fraud.
Less than 1% of Coinbase’s active monthly users are known to have been affected. However, the cost and repayment costs are between $ 180 million and $ 400 million because they promised to repay all phishing victims.
According to CoinmarketCap data, in spite of the attack on the third largest cryptocurrency exchange in the world, investor feelings are optimistic, and fear and greed index remain tightly in the “greed” area of 69 or more.
In addition to investor optimism, Coinbase withdrew more than $ 1 billion in Bitcoin on May 9, indicating the highest net leaks recorded by 2025, causing the analysis of the supply shock drive Bitcoin rally.
Coinbase is faced with a $ 400 million bill after an internal rich phishing attack.
CoINBASE faced $ 20 million attempts on May 15 after Cybercriminals recruited overseas support agents.
Coinbase said that the external actor group has given and bribed several customer support contractors and bribes to steal the internal system and steal limited user account data.
Coinbase added, “These insiders have stolen account data for a small number of customers by abuse of access to the customer support system.”
Less than 1% of Coinbase’s monthly trading user data was influenced by the attack, the company said.
After stealing the data, the attackers attempted to rob the $ 20 million BTC (Bitcoin) in COINBASE in return for not disclosing the violation. Coinbase refused to demand.
Instead, the company has provided $ 20 million compensation for the information that leads to the arrest and guilty ruling of those responsible for this system.
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As the analysts warn about supply shock, $ 1 billion in Bitcoin ends the coinbase a day.
Increasing institutional demand for Bitcoin is increasing as Coinbase, the world’s third largest Cryptocurrency exchange, records Bitcoin’s highest Bitcoin in 2025 on May 9, on May 9.
On May 9, Coinbase saw 9,739 Bitcoins, worth more than $ 1 billion, withdrawal from more than $ 2 billion, according to André Dragosch’s Bitwise Officer, which is the highest leak in Exchange.
Dragosch said in the May 13 X POST, “Institutional appetite for Bitcoin is accelerating.
The leak was traded for more than $ 103,600, and a few days after the White House announced a 90 -day reduction in mutual tariffs between the United States and China, it relieved the market problem and released a wider investor sentiment.
The 90 -day interruption of additional tariffs removed the risk of “sudden reconstruction,” which could help Bitcoin, Altcoins and a wider stock market rally against Nansen’s major research analyst Aurelie Barthere.
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Defi Lender AAVE is worth $ 40 billion onChain
According to DEFILLAMA’s data, AAVE, a decentralized financing (Defi) protocol, has reached a new funding record.
In the X post, AAVE said on May 12 that the total value lock (TVL) accounted for $ 430 billion. OnChain Data says the latest version of the AAVE V3 has about $ 40 billion in tvL.
AAVE is a defect loan protocol that allows users to borrow cryptocurrency by depositing different types of cryptocurrency as collateral. Meanwhile, lending agencies get a return from the borrower.
Defi Analyst Jonaso said in the X POST on May 12, “Through these milestones, AAVE proves the dominance in the loan space. TVL represents the total value of Cryptocurrency deposited in the smart contract of the protocol.
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The SEC delays Solana ETF with a crystal for polkadot and XRP LOOM.
In June, the US Securities and Exchange Commission (SEC) withdrew its decision on Solana Exchange-Traded Fund (ETF), where the cryptocurrency industry is currently looking for the deadline for the Polkadot and XRP-based ETFs.
According to the SECURITIES Regulator on May 13, the SEC delayed the listing of Grayscale’s spot solana (sol) Trust ETF in NYSE (New York Stock Exchange) in October 2025.
This decision was written a week after the SEC delayed the decision of the Canary Capital’s Litecoin (LTC) ETF.
SPOT ETF is a major driver of liquidity and institutional adoption for digital assets. In the case of Bitcoin, the US spot Bitcoin ETFS accounted for 75%of new investments after its launch, which helped BTC to recover $ 50,000 in February 2024, a month after ETFS debuted.
Solana ETF can only create a part of the inflow of Bitcoin ETF, but Ryan Lee, the chief analyst of Bitget Research, can still increase the long -term adoption of Solana by providing a “regulatory investment vehicle” that can still attract billions of dollars in capital.
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Starknet hit ZK-Rollups for “Stage 1” decentralization and value lock.
Ethereum Layer-2 Scaling Platform Starknet has reached a decentralized milestone presented by Vitalik Buterin, the co-founder of Ethereum, and is currently the largest zero knowledge rollup-based network with total value lock.
Starknet said in a press release shared with Coin Telegraph, according to a framework where butterin was limited in 2022, the network is acting as a limited supervisor or a “training wheel.”
Starknet added that this framework was “Gold Standard onchain tool for analysis of Etherum Scaling Solutions” and achieved milestones through changes such as the creation of safety and censorship prevention mechanisms.
The system still allows the intervention of the Security Council, but implemented a completely functional validity evidence system managed by a Smart contract.
According to L2Beat, STARKNET is the only layer-2 ZK-ROLLUP network that has reached the first stage and has grown to the largest ZK-Rollup block chain with a total value of $ 660 million ahead of ZKSYNC’s $ 660 million.
Starknet is the fifth largest layer -2 network by value lock, and it has reached the first stage decentralization using fraud evidence.
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Defi Market Overview
According to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market cap ended green.
Solana -based Memecoin Dogwifhat (WIF) has been upknized by more than 43% of this week’s biggest profits, and the token of distributed exchange Raydium, which is almost 19% higher than last week.
Thank you for reading the summary of the most influential Defi development this week. Next Friday, get more stories, insights and education about this dynamic development with us.