Ethereum News: zkLend Hacker Loses Stolen Funds in Phishing Scam, EY Upgrades Nightfall with Zero-Knowledge Tech

In the ever-turbulent world of cryptocurrency, a recent event has highlighted the unpredictable nature of the space. A hacker who managed to steal a significant sum from the zkLend Ethereum Layer 2 lending protocol faced an ironic twist of fate, losing all the stolen funds to a phishing scam. Meanwhile, EY has announced an upgrade to its Nightfall platform, incorporating zero-knowledge technology for private Ethereum transactions.

Karma Hits Fast: zkLend Hacker Gets Scammed

The attacker who stole $5.4 million in ETH from the zkLend Ethereum Layer 2 lending protocol lost all the stolen funds to a phishing scam while attempting to launder them using a fraudulent version of Tornado Cash. Certain members of the crypto community have expressed doubts about whether the hacker really lost the funds or if this was a strategic move to avoid legal repercussions.

EY Upgrades Nightfall With Zero-Knowledge Tech for Private Ethereum Transactions

EY has rebuilt its enterprise-focused Ethereum layer-2 blockchain Nightfall as a zero-knowledge rollup, eliminating waiting periods for transaction finality and simplifying the platform’s architecture. The update, released Wednesday, replaces Nightfall’s previous optimistic rollup design with a cryptographic approach that verifies transactions before submission to Ethereum. This removes the need for challenge periods that could delay finality for days. Dubbed Nightfall_4, the transition offers several advantages beyond speed, simplifying the architecture by removing the need to accommodate challenging incorrect blocks.

Why Crypto Market Is Down Today? Expert Insights on Market Volatility

The crypto market experienced heightened volatility in the past 24 hours, with the total market cap slipping 2% to $2.68 trillion. Over $490 million was liquidated from over 160k traders, mostly long traders. The largest liquidation order was on Binance involving ETH/USDT valued at $12 million. Trade tensions from U.S. tariffs and inflation fears are major forces behind today’s market drop.

Overtime’s $OVER Token and Account Abstraction UX Now Live

The onchain sportsbook platform Overtime has announced the launch of its native token, $OVER, and the formal integration of its parent protocol, Thales, under the Overtime brand. The platform has also unveiled a new primary domain and implemented full Account Abstraction integration to enhance the platform’s user experience. As a fully on-chain sportsbook with four years of development, Overtime is finally ready to compete with traditional off-chain platforms, offering functionalities on par with such platforms. Already, the platform has over $200 million in volume, support for over 100 sports and leagues, 50,000 active users, and more than 10,000 unique betting markets. Overtime operates a fully decentralized, permissionless sportsbook platform built on the Ethereum network.

StakeStone Project Overview & STO Market Cap Analysis

StakeStone is a decentralized, omnichain liquid staking protocol that provides native staking yields and efficient liquidity for Layer 2s and emerging chains. Users deposit ETH to receive STONE, a native asset that represents staking rewards and can be used across multi-chain DeFi, GameFi, and NFTFi scenarios. StakeStone features an OPAP mechanism that intelligently allocates user assets across various staking pools and yield platforms, enhancing yield efficiency. Built on LayerZero, STONE supports seamless cross-chain transfers.