[News Brief] Apr 22, morning | Aptos Fixes Critical Vulnerability That Could Have Exposed Up to $70 Billion in Assets to Risk

Aptos Fixes Critical Vulnerability That Could Have Exposed Up to $70 Billion in Assets to Risk

According to CoinDesk, white-hat hackers at security firm Hexens discovered a critical vulnerability in the Aptos blockchain, and the Aptos development team has since fixed it.

Hexens researchers said they identified an “expired cache” vulnerability in the Aptos Move virtual machine in late February and reported it to the development team. The flaw could have led to a type confusion issue that caused on-chain resources to be misidentified.

The researchers said attack success rates exceeded 90% in simulations designed to reflect real network conditions. They explained that with a single server costing about $3,000, they were able to simulate roughly one-third of the validator network, and that the attack required neither insider access nor special privileges.

If exploited, the vulnerability could have exposed as much as $70 billion in digital assets, including stablecoins and cross-chain bridges, to systemic risk. Aptos said it patched the flaw immediately after the report, and no loss of funds occurred.

Step Finance Attacker Sells $21.4 Million Worth of SOL, Converts to ETH, and Deposits Into Tornado Cash

An attacker linked to Step Finance sold about $21.4 million worth of SOL from a wallet that had been dormant for five months, then converted the proceeds into ETH and deposited them into Tornado Cash.

PANews, citing Lookonchain monitoring, reported that the attacker sold 261,933 SOL, bridged the funds to Ethereum, and then purchased 12,128 ETH.

The attacker subsequently deposited the ETH into Tornado Cash. Tornado Cash is a mixing service that makes transaction tracing more difficult and is frequently mentioned in connection with laundering hacked funds.

Vietnam Seizes 350 kg of Gold and Silver and Freezes More Than 300 Accounts in ONUS Crypto Platform Fraud Probe

Vietnam’s Ministry of Public Security has seized more than 350 kilograms of gold and silver and frozen over 300 bank accounts in its investigation into the ONUS cryptocurrency platform fraud case, PANews reported on July 5.

According to the report, Vietnamese police also froze transactions involving eight properties worth 200 billion dong and suspended activity in more than 300 accounts tied to the case. On March 23, eight defendants were indicted on charges including property infringement through computer and telecommunications networks and money laundering.

Investigators believe those involved exploited the public’s limited understanding of cryptocurrency starting in 2018, created app-based digital accounts, lured investors through circular transactions among affiliated entities, and then misappropriated funds. Cumulative sales from 2018 to 2021 are estimated to have exceeded 7 trillion dong.

Authorities said the number of related user accounts has reached about 5 million, and police have received more than 2,000 public tips. Investigators are also looking into possible accomplices, including influencers, and pursuing recovery of criminal proceeds.

OKX Ventures Acquires 20% Stake in South Korean Exchange Coinone

Wu Blockchain, citing Digital Today, reported that OKX subsidiary OKX Ventures recently acquired a 20% stake in South Korean crypto exchange Coinone.

Following the deal, OKX Ventures became one of Coinone’s three largest shareholders. Coinone plans to use OKX’s matching engine, custody, and wallet technology to strengthen its trading infrastructure, compliance framework, and institutional services.

South African Revenue Service Releases Draft Crypto Tax Guidance

According to Odaily, the South African Revenue Service released draft cryptocurrency tax guidance on July 1 and will collect public comments through Aug. 31.

The draft classifies cryptocurrency as an intangible asset rather than foreign exchange or traditional currency. Unrealized gains or losses on assets merely held are not taxed, but tax obligations arise upon disposal.

If an individual’s crypto trading is deemed business activity or short-term trading, profits are treated as gross income and taxed at marginal rates of 18% to 45%. Gains from disposing of assets held for long-term investment are subject to capital gains tax, with an effective rate for individuals of 18% to 36%.

The tax authority also said crypto-to-crypto exchanges are treated as barter transactions, with tax treatment based on local market value at the time of exchange. It urged taxpayers who previously failed to report crypto income to use the voluntary disclosure program.

Kalshi and Other Prediction Market Firms Face Legal Disputes Across Multiple U.S. States

According to Odaily, prediction market firms including Kalshi are facing legal disputes in several U.S. states as they challenge the jurisdiction of state regulators.

The disputes are underway in Nevada and Michigan, while oral arguments are being held in Minnesota. Some of the cases could ultimately reach the U.S. Supreme Court, according to the report.

Meanwhile, North Carolina is said to be moving closer to imposing a state tax on prediction market profits.

Ethereum Foundation Grants About $4.34 Million in stETH to Argot Collective

The Ethereum Foundation has provided nonprofit development group Argot Collective with about 2,469 stETH, worth roughly $4.34 million.

On July 5, PANews, citing on-chain analyst Yu Jin, reported that the Ethereum Foundation sent about 2,469 stETH to Argot Collective as fourth-year operating support.

Previously, in July last year, the Ethereum Foundation gave Argot Collective 7,000 ETH in funding for three years of operations. Argot Collective later sold 4,826.6 ETH at an average price of $3,194, converting it into 15.417 million USDC.

Yu Jin said a final fifth-year grant of 2,469 stETH is also scheduled to be distributed in July next year.

Whale Alert Detects Transfer of 190.57 Million USDC From Aave to Anonymous Whale Wallet

Whale Alert reported that 190,571,760 USDC, worth about $190.61 million, was moved from Aave to an anonymous whale wallet.

The purpose of the transfer has not been confirmed. Large stablecoin movements can be related to exchange deposits or withdrawals, liquidity adjustments, or preparations for over-the-counter trades.

Solana Records 31.38 Million Active Addresses Over the Past 7 Days, Ranking First Among Public Blockchains

Odaily, citing on-chain analyst Ai Yi, reported that Solana recorded 31.38 million active addresses over the past seven days, up 38% year over year, ranking first among public blockchains.

During the same period, Solana’s transaction count rose 9.8% and fees increased 38%. Odaily added that interest in BSC meme coins also increased following Changpeng Zhao’s response that day.

Bitcoin Reclaims $63,000

Watcher.Guru reported that Bitcoin has regained the $63,000 level.

The crypto market has recently remained highly sensitive to whether key price levels are broken, with short-term buying interest and investor sentiment reacting quickly.