CrossCurve, a crypto protocol supported by Curve Finance (CRV) founder Michael Egorov, has been attacked via its cross-chain bridge, Cointelegraph reported, citing data from security firm Defimon Aler...

CrossCurve, a crypto protocol supported by Curve Finance (CRV) founder Michael Egorov, has been attacked via its cross-chain bridge, Cointelegraph reported, citing data from security firm Defimon Alerts. The exploit is estimated to have resulted in the theft of approximately $3 million in funds across several networks.

In a post on X, CrossCurve confirmed that a smart contract vulnerability had been exploited and asked users to halt all interactions with the protocol pending an investigation. The attacker reportedly bypassed validator procedures in a specific smart contract, allowing them to send forged cross-chain messages that triggered the unlocking of tokens.

CrossCurve protocol suffers suspected $3M exploit

Author | Jeff Park (Chief Information Officer, Bitwise)
Compiled by Odaily Odaily(@OdailyChina)
Translator | Dingdang (@XiaMiPP)
Editor's Note: On February 5th, the cryptocurrency market experienced another crash, with over $2.6 billion liquidated in 24 hours. Bitcoin briefly plummeted to $60,000, but the market seems to lack a clear consensus on the causes of this decline. Bitwise CIO Jeff Park offers a new analytical framework from the perspective of options and hedging mechanisms.
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The Black Swan Event Was Actually This: The Real Reason for the Recent Bitcoin Crash

Author | Jeff Park (Chief Information Officer, Bitwise)
Compiled by Odaily Odaily(@OdailyChina)
Translator | Dingdang (@XiaMiPP)
Editor's Note: On February 5th, the cryptocurrency market experienced another sharp drop, with over $2.6 billion liquidated in 24 hours. Bitcoin briefly plummeted to $60,000, but the market seems to lack a clear consensus on the causes of this decline. Jeff Park, CIO of Bitwise, offers a new analytical framework from the perspective of options and hedging mechanisms. [...]

The release of this new regulation marks a historic leap in the attitude of Chinese regulators towards virtual assets, shifting from a "complete ban" to a "combination of restriction and guidance."

Article Author & Source: Guofeng Law Firm On February 6, 2026, the "Notice on Further Preventing and Handling Risks Related to Virtual Currencies" (Yinfa [2026] No. 42, hereinafter referred to as "Document No. 42"), jointly issued by eight ministries led by the People's Bank of China, and the "Regulatory Guidelines on the Issuance of Asset-Backed Securities Tokens Overseas by Domestic Assets" (hereinafter referred to as the "Guidelines") simultaneously issued by the China Securities Regulatory Commission, have triggered significant reactions in the legal and financial circles...