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- 🏁 Gate Red Bull Racing Tour 2025 In Full Swing!
Up to now, the total trading volume exceeded $2 billion, with top trader trading volume nearing $200 million
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#GateRedBullRacingTour# - 📢 Gate releases its latest Reserve Audit Report!
💰 Total reserves: $10.453B
🟢 Excess reserves: $1.96B — ensuring full coverage and extra security for user assets.
Gate continues to uphold 100% proof-of-reserves and full transparency.
🔗 Read the full report: https://www.gate.com/zh/announcements/article/45617
- Limited-Time Airdrop Is LIVE — Don't Miss Out!
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- #Gate Latest Proof of Reserves Reaches 10.453 Billion Dollars#
Gate has released its latest Proof of Reserves report! As of June 2025, the total value of Gate’s reserves stands at $10.453 billion, covering over 350 types of user assets, with a total reserve ratio of 123.09% and an excess reserve of $1.96 billion.
Currently, BTC, ETH, and USDT are backed by more than 100% reserves. The BTC customer balance is 17,022.60, and Gate’s BTC balance is 23,611.00, with an excess reserve ratio of 38.70%.The ETH customer balance is 386,645.00, and Gate’s ETH balance is 437,127.00, with an excess reserve
Young Hacker Used ‘Glitch’ To Steal $48,800,000 in Crypto From Trading Platform KyberSwap, Allege Feds - The Daily Hodl
A young Canadian hacker is now wanted after allegedly exploiting a “glitch” to loot $48.8 million in crypto from the decentralized finance (DeFi) protocol KyberSwap, according to a new indictment.
The U.S. Attorney’s Office for the Eastern District of New York alleges that Andean Medjedovic, 22, exploited vulnerabilities in the KyberSwap code in 2023.
Prosecutors say he employed hundreds of millions of dollars in borrowed crypto to generate artificial prices in the protocol’s liquidity pools (LPs). Medjedovic then allegedly caused what he called a “glitch” in KyberSwap’s automated market maker (AMM) by executing a specific combination of trades, which enabled him to drain $48.8 million in crypto from 77 LPs on six public blockchains.
The Canadian national then allegedly attempted to extort KyberSwap developers, demanding control of the protocol and its associated decentralized autonomous organization (DAO) in exchange for 50% of the stolen crypto.
Prosecutors accuse Medjedovic, who remains at large, of attempting to launder the looted crypto through bridge protocols and a digital asset mixer.
He also allegedly exploited liquidity pools from a different DeFi protocol, Indexed Finance, back in 2021, plundering $16.5 million.
The indictment, which was unsealed on Monday in a federal court in Brooklyn, charges Medjedovic with wire fraud, computer hacking and attempted extortion.
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