infinite

The cross-chain protocol Axelar Network released a statement regarding the recent security incident related to Secret Network, stating that there is a misunderstanding within the community about the event. Both Axelar and the Inter-Blockchain Communication Protocol (IBC) were not attacked or compromised. The affected token smart contracts were neither developed, deployed, nor maintained by Axelar, and Axelar's firewall mechanism also prevented the impact from spreading to other chains.It is reported that the exploited contract is a forked version based on CW20-ICS20, but the developers removed two core security checks, resulting in an "infinite minting" vulnerability. By deleting the verification mechanisms originally used to prevent such issues, this fork altered the original trust model of the contract and did not undergo a new security audit.Axelar Network explained that anyone can deploy contracts for cross-chain asset wrapping through IBC, and similar contracts have also been used to wrap tokens from other chains into Secret Network. However, the Secret side fork version in this incident has vulnerabilities due to the removal of key security checks. This incident is not a unique logical flaw, nor is it an issue with the IBC protocol itself, but rather a security risk introduced by modifications to third-party contracts.

According to The Block, B2B stablecoin technology provider Infinite has launched Infinite Accounts, offering banking account services for businesses that support deposits, withdrawals, ACH, domestic and international wire transfers, as well as stablecoin minting, burning, and on-chain transfers, all accessible through a single API.This service is supported by traditional banking infrastructure from Erebor Bank, which has recently received its license. Infinite states that the fiat currency balance in the accounts may be eligible for FDIC insurance, while the stablecoin balance is not. This move comes at a time when institutional adoption of stablecoins is continuing to heat up.

According to official news, the decentralized RWA infrastructure project Infinite Galaxy Protocol has officially opened the purchase channel for genesis nodes. The total number of nodes is fixed at 2,100, with a unit price of 1,000 USDT, available until sold out.Infinite Galaxy Protocol, initiated by Horizon Labs, aims to create the next generation of decentralized RWA trading systems through a "composite yield mechanism + deflationary token system + liquidity engine." The project has attracted market attention due to its features such as fully on-chain transparent execution, no centralized authority, and continuous deflation.Node holders will receive multiple long-term benefits, including protocol dividends, token incentives, and priority for RWA ecosystem airdrops. It is worth noting that the official launch of the limited issuance of the TRT genesis card has also begun, available only to early participants, with limited quantities available on a first-come, first-served basis.With the start of node sales, the ecosystem of Infinite Galaxy has officially entered the launch phase. Users can follow official announcements for more information.

ChainCatcher news, Chainlink community member Zach Rynes posted on X stating, "Paxos accidentally minted 300 trillion unsupported PYUSD tokens. The funds are currently safe; it was just an operational error, and the excess supply has been destroyed, maintaining a 1:1 peg.But this is a great example of how Chainlink's Proof of Reserve could have prevented an entire public relations nightmare. Specifically, asset issuers could integrate Chainlink PoR into the minting function of their token contracts as a verification check, which would prevent the issuance of additional tokens unless Chainlink PoR first verifies that there are sufficient off-chain reserves available to maintain 100% collateralization.This could prevent 'infinite minting attacks,' which involve minting large amounts of unsupported tokens, putting all listed tokens and the markets supporting those tokens at risk."

ChainCatcher news, according to Businesswire, The Infinite Node Foundation (NODE) announced the acquisition of all intellectual property rights of CryptoPunks from Yuga Labs.As a nonprofit organization dedicated to the protection of digital art, NODE plans to maintain CryptoPunks through three main pillars: protection, community, and expansion.

ChainCatcher news, according to Cointelegraph, the Solana development team has fixed a serious security vulnerability. This vulnerability could allow attackers to mint tokens without restriction or steal assets from user accounts. The vulnerability was discovered on April 16 and was patched within two days after the validator coordinated a network update.

ChainCatcher news, according to The Block, Bernstein analysts have released ten predictions for the cryptocurrency industry in 2025, reaffirming a Bitcoin price target of $200,000, and noting that the stablecoin market size will exceed $50 billion. The net inflow of funds into spot Bitcoin ETFs will surpass $70 billion, and the integration of cryptocurrency and artificial intelligence will deepen further.Bernstein refers to 2025 as the beginning of the "Era of Infinity," believing it to be a "long-term period in which cryptocurrency technology continues to evolve and gain widespread acceptance." Analyst Gautam Chhugani stated that the cryptocurrency industry will gradually detach from cyclical fluctuations, integrating into the financial system and becoming an important part of the intelligent era. The report predicts that U.S. spot Bitcoin ETFs will attract over $70 billion in net inflows, with institutional adoption rates rising rapidly, and the proportion of ETF investments held will increase from 22% in 2024 to 40%. Meanwhile, the capital expansion plans of MicroStrategy and Bitcoin miners will drive corporate financial adoption to reach $50 billion by 2025. Additionally, Bernstein expects the fusion of AI and the cryptocurrency industry to give rise to innovative fields such as decentralized AI blockchains, AI-integrated cryptocurrency wallets, and "human verification" based validation services; Bitcoin miners will also increasingly turn to AI to optimize business models and attract a broader range of institutional investors.

ChainCatcher news, according to Snapshot, Arbitrum has initiated a proposal to launch the Infinite Launchpad, which will support project builders through a series of modules including community building, market research, entrepreneur residency programs, and venture capital, with a total requested funding of 10 million USD.Data shows that currently, the opposition accounts for 54%, support accounts for 28%, and abstentions account for 18%.

ChainCatcher news, according to VentureBeat, the AI-driven social sports platform Infinite Reality has acquired the Web3 gaming project Stakes for $8 million in stock. This all-stock deal values Infinite Reality at $3 billion and Stakes at $8 million.Infinite Reality CEO John Acunto stated that the acquisition of Stakes will help Infinite Reality implement its innovative digital experiences and immersive sports products, as well as integrate with blockchain and Web3.