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LayerZero Drained, ERC-4337 Exploit & ETH Breaks $1,800
Audio is available on Spreaker — see link below.
Two DeFi exploits struck in 48 hours — LayerZero's Executor wallets lost $2.4M across eight chains while Lumi Finance's ERC-4337 paymaster flaw drained $270K from user accounts. Plus: ETH clears $1,800 resistance, BitMine posts $45.7M in staking revenue, and the CLARITY Act heads to a critical House hearing.
Audio is available on Spreaker — see link below.
Two DeFi protocols were drained inside forty-eight hours, and the attack vectors are different enough to matter. LayerZero's Executor wallets lost roughly two point four million dollars across Ethereum, BNB Chain, Base, Arbitrum, and several other networks.
Start with LayerZero. The attacker consolidated nine hundred and fifty-six ETH plus three hundred and twenty-two thousand dollars in USDC on Ethereum mainnet.
The Lumi Finance exploit is technically distinct, and arguably more instructive. An attacker-controlled paymaster triggered token approvals during the UserOp validation phase of an ERC-4337 transaction.
On price, ETH broke above one thousand eight hundred dollars resistance on volume, with the daily RSI clearing sixty. The next test is in the one thousand nine hundred and forty to one thousand nine hundred and seventy range, with two thousand dollars as the broader target.
BitMine published Q1 results showing forty-five point seven million dollars in ETH staking revenue, representing ninety-eight percent of total revenue. A year ago, that number was two point zero five million.
Two things to watch closely from here. On the security side, LayerZero's official response will either contain or escalate the cross-chain risk perception.
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