Nervos Network’s $3M USDT Breach Highlights Cross-Chain Risks
On June 3, 2025, the Nervos Network suffered a significant security breach through its Force Bridge, resulting in the loss of approximately $3 million in digital assets, including 257,800 USDT. The exploit, detected by Magickbase and blockchain security firm Cyvers, involved unauthorized transfers of 539.09 ETH and 898,300 USDC, which were subsequently swapped to Ethereum. This incident underscores the ongoing vulnerabilities in cross-chain protocols within decentralized ecosystems. Despite this setback, the broader cryptocurrency market remains resilient, with USDT and other stablecoins continuing to play a pivotal role in maintaining liquidity and trust. Investors are advised to monitor developments closely as the Nervos team addresses the exploit and reinforces security measures.
Nervos Network Faces $3M Breach via Force Bridge Exploit
Magickbase, a Nervos-integrated wallet developer, and blockchain security firm Cyvers have flagged a critical exploit on Nervos Network’s Force Bridge. The attackers siphoned approximately $3 million in assets—including 257.8K USDT, 539.09 ETH, and 898.3K USDC—before swapping them to Ethereum. Cross-chain vulnerabilities remain a persistent threat in decentralized ecosystems.
Cyvers’ on-chain analysis revealed unauthorized control of the bridge by a suspicious address. Nervos has yet to issue a detailed response, leaving the community awaiting mitigation updates. The incident underscores the risks of interoperability solutions, a recurring pain point in blockchain infrastructure.
Whales Dominate 75% of Binance’s Total $USDT Inflows
Cryptocurrency whales are heavily favoring Binance for their $USDT deposits, accounting for 75% of the exchange’s total inflows, according to CryptoQuant analyst maartunn. The trend, observed since November 2023, highlights Binance’s dominance as the preferred platform for large-scale stablecoin transactions.
Whales are leveraging the TRON network for its cost-efficient and rapid transfer capabilities, suggesting a strategic preference for Binance’s liquidity, security, and advanced trading features. The substantial inflows signal heightened activity among major market players, potentially priming the exchange for significant buying pressure across digital assets.
Russia Explores Crypto Payments For Grain Exports To Dodge Sanctions
Russia’s Agricultural Bank is collaborating with the Bank of Russia to evaluate digital assets for grain export settlements, marking a strategic pivot toward cryptocurrency-based trade mechanisms. The initiative builds on prior successes in using Bitcoin, Ethereum, and stablecoins like Tether for energy transactions with China and India.
Western sanctions have accelerated Moscow’s adoption of crypto as a workaround for cross-border payments. The move signals broader institutional acceptance of digital assets in commodity markets, with agricultural trade joining oil as a testing ground for blockchain-based settlements.
