The post DeFi Platform Operating on BNB Chain Attacked by Hackers! How Much Lost? Here Are the Details appeared on BitcoinEthereumNews.com. New Gold Protocol (NGP), a decentralized finance (DeFi) platform operating on BNB Chain, was hit with a $2 million attack on Wednesday. The attack targeted the protocol’s liquidity pool, resulting in significant losses. NGP Protocol on BNB Chain Loses $2 Million Web3 security firm Blockaid explained that the attack was based on price oracle manipulation. The attacker targeted the getPrice function in the NGP smart contract. This function calculates the token price by directly referencing Uniswap V2 pool reserves. However, according to Blockaid, “the instant price from a single DEX pool is not secure because attackers can easily manipulate reserves with a flash loan.” The attacker executed a large swap using a flash loan for a large amount of tokens. This increased the pool’s USDT reserves, decreased the NGP reserves, and caused the price oracle to report an artificially low value. This manipulation allowed the contract’s transaction limit to be exceeded, allowing the attacker to acquire a large amount of NGP tokens at a low price. On-chain security firm PeckShield reported that the stolen funds were transferred through Tornado Cash. The NGP token price also plummeted by 88% following the attack. This incident is the latest in a series of attacks targeting DeFi protocols. Last week, the Sui-based Nemo Protocol suffered a similar $2.6 million loss. According to Chainalysis data, more than $2 billion was stolen from crypto services in the first half of 2025 alone. This figure is higher than the same period in previous years, indicating increasing security risks in the sector. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/defi-platform-operating-on-bnb-chain-attacked-by-hackers-how-much-lost-here-are-the-details/The post DeFi Platform Operating on BNB Chain Attacked by Hackers! How Much Lost? Here Are the Details appeared on BitcoinEthereumNews.com. New Gold Protocol (NGP), a decentralized finance (DeFi) platform operating on BNB Chain, was hit with a $2 million attack on Wednesday. The attack targeted the protocol’s liquidity pool, resulting in significant losses. NGP Protocol on BNB Chain Loses $2 Million Web3 security firm Blockaid explained that the attack was based on price oracle manipulation. The attacker targeted the getPrice function in the NGP smart contract. This function calculates the token price by directly referencing Uniswap V2 pool reserves. However, according to Blockaid, “the instant price from a single DEX pool is not secure because attackers can easily manipulate reserves with a flash loan.” The attacker executed a large swap using a flash loan for a large amount of tokens. This increased the pool’s USDT reserves, decreased the NGP reserves, and caused the price oracle to report an artificially low value. This manipulation allowed the contract’s transaction limit to be exceeded, allowing the attacker to acquire a large amount of NGP tokens at a low price. On-chain security firm PeckShield reported that the stolen funds were transferred through Tornado Cash. The NGP token price also plummeted by 88% following the attack. This incident is the latest in a series of attacks targeting DeFi protocols. Last week, the Sui-based Nemo Protocol suffered a similar $2.6 million loss. According to Chainalysis data, more than $2 billion was stolen from crypto services in the first half of 2025 alone. This figure is higher than the same period in previous years, indicating increasing security risks in the sector. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/defi-platform-operating-on-bnb-chain-attacked-by-hackers-how-much-lost-here-are-the-details/

DeFi Platform Operating on BNB Chain Attacked by Hackers! How Much Lost? Here Are the Details

New Gold Protocol (NGP), a decentralized finance (DeFi) platform operating on BNB Chain, was hit with a $2 million attack on Wednesday. The attack targeted the protocol’s liquidity pool, resulting in significant losses.

NGP Protocol on BNB Chain Loses $2 Million

Web3 security firm Blockaid explained that the attack was based on price oracle manipulation. The attacker targeted the getPrice function in the NGP smart contract. This function calculates the token price by directly referencing Uniswap V2 pool reserves. However, according to Blockaid, “the instant price from a single DEX pool is not secure because attackers can easily manipulate reserves with a flash loan.”

The attacker executed a large swap using a flash loan for a large amount of tokens. This increased the pool’s USDT reserves, decreased the NGP reserves, and caused the price oracle to report an artificially low value. This manipulation allowed the contract’s transaction limit to be exceeded, allowing the attacker to acquire a large amount of NGP tokens at a low price.

On-chain security firm PeckShield reported that the stolen funds were transferred through Tornado Cash. The NGP token price also plummeted by 88% following the attack.

This incident is the latest in a series of attacks targeting DeFi protocols. Last week, the Sui-based Nemo Protocol suffered a similar $2.6 million loss.

According to Chainalysis data, more than $2 billion was stolen from crypto services in the first half of 2025 alone. This figure is higher than the same period in previous years, indicating increasing security risks in the sector.

*This is not investment advice.

Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!

Source: https://en.bitcoinsistemi.com/defi-platform-operating-on-bnb-chain-attacked-by-hackers-how-much-lost-here-are-the-details/

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Spot ETH ETFs Surge: Remarkable $48M Inflow Streak Continues

Spot ETH ETFs Surge: Remarkable $48M Inflow Streak Continues

BitcoinWorld Spot ETH ETFs Surge: Remarkable $48M Inflow Streak Continues The cryptocurrency world is buzzing with exciting news as Spot ETH ETFs continue to capture significant investor attention. For the second consecutive day, these innovative investment vehicles have seen substantial positive flows, reinforcing confidence in the Ethereum ecosystem. This consistent performance signals a growing appetite for regulated crypto exposure among traditional investors. What’s Fueling the Latest Spot ETH ETF Inflows? On September 19, U.S. Spot ETH ETFs collectively recorded a net inflow of an impressive $48 million. This marked another day of positive momentum, building on previous gains. Such figures are not just numbers; they represent tangible capital moving into the Ethereum market through accessible investment products. BlackRock’s ETHA Leads the Charge: A standout performer was BlackRock’s ETHA, which alone attracted a staggering $140 million in inflows. This substantial figure highlights the significant influence of major financial institutions in driving the adoption of crypto-backed ETFs. Institutional Confidence: The consistent inflows, particularly from prominent asset managers like BlackRock, suggest increasing institutional comfort and conviction in Ethereum’s long-term potential. Why Are Consecutive Spot ETH ETF Inflows So Significant? Two consecutive days of net inflows into Spot ETH ETFs are more than just a fleeting trend; they indicate a strengthening pattern of investor interest. This sustained positive movement suggests that initial hesitancy might be giving way to broader acceptance and strategic positioning within the digital asset space. Understanding the implications of these inflows is crucial: Market Validation: Continuous inflows serve as a strong validation for Ethereum as a legitimate and valuable asset class within traditional finance. Liquidity and Stability: Increased capital flowing into these ETFs can contribute to greater market liquidity and potentially enhance price stability for Ethereum itself, reducing volatility over time. Paving the Way: The success of Spot ETH ETFs could also pave the way for other cryptocurrency-based investment products, further integrating digital assets into mainstream financial portfolios. Are All Spot ETH ETFs Experiencing the Same Momentum? While the overall picture for Spot ETH ETFs is overwhelmingly positive, it’s important to note that individual fund performances can vary. The market is dynamic, and different funds may experience unique flow patterns based on investor preferences, fund structure, and underlying strategies. Mixed Performance: On the same day, Fidelity’s FETH saw net outflows of $53.4 million, and Grayscale’s Mini ETH recorded outflows of $11.3 million. Normal Market Fluctuations: These outflows, while notable, are a normal part of market dynamics. Investors might be rebalancing portfolios, taking profits, or shifting capital between different investment vehicles. The net positive inflow across the entire sector indicates that new money is still entering faster than it is leaving. This nuanced view helps us appreciate the complex interplay of forces shaping the market for Spot ETH ETFs. What’s Next for Spot ETH ETFs and the Ethereum Market? The sustained interest in Spot ETH ETFs suggests a potentially bright future for Ethereum’s integration into traditional financial markets. As more investors gain access to ETH through regulated products, the demand for the underlying asset could increase, influencing its price and overall market capitalization. For investors looking to navigate this evolving landscape, here are some actionable insights: Stay Informed: Keep an eye on daily inflow and outflow data, as these can provide early indicators of market sentiment. Understand Diversification: While Spot ETH ETFs offer exposure, remember the importance of a diversified investment portfolio. Monitor Regulatory Developments: The regulatory environment for cryptocurrencies is constantly evolving, which can impact the performance and availability of these investment products. Conclusion: A Promising Horizon for Ethereum The consistent positive net inflows into Spot ETH ETFs for a second straight day underscore a significant shift in how institutional and retail investors view Ethereum. This growing confidence, spearheaded by major players like BlackRock, signals a maturing market where digital assets are increasingly seen as viable components of a modern investment strategy. As the ecosystem continues to develop, these ETFs will likely play a crucial role in shaping Ethereum’s future trajectory and its broader acceptance in global finance. It’s an exciting time to watch the evolution of these groundbreaking financial instruments. Frequently Asked Questions (FAQs) Q1: What is a Spot ETH ETF? A Spot ETH ETF (Exchange-Traded Fund) is an investment product that directly holds Ethereum. It allows investors to gain exposure to Ethereum’s price movements without needing to buy, store, or manage the actual cryptocurrency themselves. Q2: Why are these recent inflows into Spot ETH ETFs important? The recent inflows signify growing institutional and retail investor confidence in Ethereum as an asset. Consistent positive flows can lead to increased market liquidity, potential price stability, and broader acceptance of cryptocurrencies in traditional financial portfolios. Q3: Which funds are leading the inflows for Spot ETH ETFs? On September 19, BlackRock’s ETHA led the group with a substantial $140 million in inflows, demonstrating strong interest from a major financial institution. Q4: Do all Spot ETH ETFs experience inflows simultaneously? No, not all Spot ETH ETFs experience inflows at the same time. While the overall sector may see net positive flows, individual funds like Fidelity’s FETH and Grayscale’s Mini ETH can experience outflows due to various factors such as rebalancing or profit-taking by investors. Q5: What does the success of Spot ETH ETFs mean for Ethereum’s price? Increased demand through Spot ETH ETFs can potentially drive up the price of Ethereum by increasing buying pressure on the underlying asset. However, numerous factors influence crypto prices, so it’s not a guaranteed outcome. If you found this article insightful, consider sharing it with your network! Your support helps us continue to provide valuable insights into the dynamic world of cryptocurrency. Spread the word and help others understand the exciting developments in Spot ETH ETFs! To learn more about the latest crypto market trends, explore our article on key developments shaping Ethereum institutional adoption. This post Spot ETH ETFs Surge: Remarkable $48M Inflow Streak Continues first appeared on BitcoinWorld.
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Coinstats2025/09/20 11:10
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