02
Bridge and cross-chain hacking cascade, LayerZero skepticism
Rooms are questioning bridge and cross-chain trust. KII Chain suffered an EVM module vulnerability on Aug 23 morning that drained funds via Hyperlane bridge; the team shut down the chain to limit damage and rallied 5x after a 70% collapse. Around the same time, TAC lost approximately 2.986B tokens to staking attacks, and Mantra suffered similar incidents. As advanced attack vectors like CREATE2 factory contracts and precompile address exploitation surface, skepticism around LayerZero as the ultimate solution is growing.
New chain emergency response is life-or-death; recovery can yield 5x profits but risk is extreme. Bridge trust decline may benefit alternative cross-chain solutions and security bots.
03
FOLD Upbit listing, GNO team listing cycle reconfirmed
Ethereum-based FOLD (Interfold) listed on Upbit on Aug 23 with KRW, BTC, and USDT pairs. The first DEX-origin token to move directly to a major exchange drew attention. After selling at $21M FDV, it climbed to $200M+ market cap post-listing but hit a 200M KRW sell wall shortly after, with thin trading volume reported. Once confirmed as GNO team background, sentiment split between praise for how well GNO ecosystem projects (Cow, Safe) penetrate Upbit and expectations for a post-listing pump.
Capitalize on timing between early sale buyers and post-listing sell pressure. Early discovery of GNO ecosystem projects from sale stage to listing delivers high ROI expectations.