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Taiwan-based crypto exchange BitoPro has confirmed to CoinDesk that it suffered a cyberattack on an old hot wallet in May, resulting in losses of over $11 million. The company said it immediately replenished the stolen funds and moved assets to new wallets to prevent further losses.The breach, which occurred on May 8 during a wallet system upgrade, was first flagged by blockchain sleuth ZachXBT. He revealed that the stolen funds were laundered through decentralized exchanges and privacy protocols before being deposited into Wasabi Wallet, a popular Bitcoin mixer.“BitoPro recently experienced a cyberattack on an old hot wallet during a wallet system upgrade,” the exchange shared with CoinDesk. “Upon detection, we quickly launched an emergency response, securing assets by moving them...

Dogecoin DOGE and Cardano's ADA ADA led the declines on Friday as crypto traders digested mixed macro data and recession concerns sparked by an escalating feud between President Donald Trump and tech titan Elon Musk. DOGE tumbled nearly 7% in 24 hours, while ADA slid 6.5% to reflect a risk-off shift among crypto traders. Bitcoin BTC bounced above $102,000 in Asian morning hours after falling to near $101,000 on Thursday night, with ether ETH, XRP XRP, BNB Chain’s BNB BNB and Solana’s SOL SOL down between 2%-5%.The spat between Musk and Trump rattled confidence, with Musk warning that the U.S. is likely headed for a technical recession this year — a concern that weighed heavily on speculative assets.“The quarrels between...

Uber CEO Dara Khosrowshahi said the ride-hailing giant is exploring the use of crypto as a payment method, which marks the third time the company has made the claim since 2021.Speaking Thursday at the Bloomberg Tech conference in San Francisco, Khosrowshahi said the company is in the “study phase” of evaluating stablecoins for operational use.“I think stablecoins are one of the more interesting instantiations of crypto that have a practical benefit beyond being a store of value,” Khosrowshahi said.Uber was an early member of the Diem Association (formerly Libra), joining in 2019 to support Meta’s now-defunct stablecoin initiative aimed at reshaping global payments.“You can have your opinions on Bitcoin, it’s a proven commodity, and people differ on where it’s going....

Good Morning, Asia. Here's what's making news in the markets:Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas.Bitcoin BTC is trading above $101.5K as Asia begins its trading day, shrugging off fresh tariff uncertainties from the Trump administration.However, the real story, according to Semir Gabeljic, director of capital formation at Pythagoras Investments, is that traders continue to be laser-focused on a bull market throughout the remainder of the year, with a high degree of confidence that BTC will reach $120,000, buoyed by persistent corporate buying and declining volatility."The uncertainty from unexpected tariff increases by the...

WASHINGTON, D.C. — As many as 16 Democrats may vote in favor of the Senate's stablecoin bill when it gets to its final set of votes in the legislative body, Arizona Senator Ruben Gallego said Thursday.The "Guiding and Establishing National Innovation for U.S. Stablecoins of 2025" (GENIUS) Act faced headwinds last month after Gallego led a group of Democrats against voting for cloture, a procedural hurdle that would advance legislation, citing concerns about consumer protection and other provisions. Within a week and a half, however, Gallego and other Democrats who had defected from the vote flipped, and the Arizona lawmaker told CoinDesk he predicted that his colleagues would continue advancing it out of the Senate."We've worked in a very honest,...