Shiba Inu (SHIB) is a decentralized cryptocurrency (altcoin) based on Ethereum launched in August 2020 by an anonymous creator named Ryoshi. Known as a "meme coin" and often called the "Dogecoin Killer," SHIB has evolved from an internet joke into a serious ecosystem, including tokens BONE and LEASH, as well as its own blockchain, Shibarium. Here are the key points about Shiba Inu: Origin: Inspired by the Japanese dog breed, Shiba Inu, which also serves as the mascot for Dogecoin. Purpose: Created as an experiment in building a decentralized community (often called SHIB Army) to rival Dogecoin's dominance. Ecosystem: SHIB is not just a coin but has a decentralized exchange platform (ShibaSwap) and a Layer-2 blockchain (Shibarium) to improve transaction efficiency. How It Works: Based on Ethereum (ERC-20 token), allowing it to interact with other decentralized finance (DeFi) applications. Value: It was once a phenomenon due to its very high price increase, but its price is highly volatile and influenced by meme coin market trends.

The courts have now opened for the $71 million worth of ETH frozen following the Kelp DAO hack. Aave has filed an urgent application with a New York federal court demanding the return of these funds to their users. The events unfolded as follows: Following the April 18th $292 million rsETH exploit, the Arbitrum Security Council successfully froze 30,766 ETH linked to the attacker. Just as the funds were about to be returned to the victims, the US law firm Gerstein Harrow LLP intervened. Citing a total of $877 million in terrorism damages awarded against North Korea in 2010, 2015, and 2016, the firm obtained a restraining order on May 1st. Their reasoning was that the attack was allegedly linked to the Lazarus Group, therefore the frozen assets should be considered North Korean property. Aave's lawyers have taken a firm stance against this claim. The application states, "A thief doesn't become the legal owner of stolen goods simply because he held them for a few hours," emphasizing that the North Korea claim is based on internet rumors and lacks concrete evidence. Aave also warns that if this restriction continues, protocol users may be unable to meet their collateral obligations, and the risk of chain liquidation could threaten the entire DeFi ecosystem. They are requesting the court to immediately lift the restriction, or if that's not possible, that the plaintiffs deposit $300 million in collateral. An emergency hearing will be held tomorrow. This case is a first for DeFi. For the first time, the question of who owns the recovered hacked funds is being addressed in a courtroom. Whatever the answer, it will set a precedent that will determine the fate of all future recovery operations. Justice is served not when those who pursue good find justice, but when those who pursue good find justice. ⚠️Don't Forget to mark Stoploss and manage risk properly. 👉NFA 👉DYOR #GateSquare #CreatorCarnival #GateSquareMayTradingShare

#BitcoinETFOptionLimitQuadruples Insiden Kelp DAO Picu Arus Unstaking 433.158 ETH on Ethereum DeFi Protocol Panic has swept the restaking ecosystem following a protocol hack of the Kelp DAO bridge worth $292 million by a hacking group suspected to be linked to Lazarus. As a result, the Ethereum validator withdrawal queue surged sharply to 433.158 ETH on Sunday (5/3). This phenomenon accelerated the outflow of funds from rsETH assets and caused the total value locked (TVL) across various DeFi protocols to plummet by up to 30% over the past 12 weeks. This withdrawal queue spike is extremely drastic, recorded to have increased by up to 72,000% in just the last two weeks, with withdrawal wait times now swelling to seven days. On-chain analysts say that asset holders are beginning to assess that the risk of losing capital due to hacking is far greater than the returns offered by current restaking protocols. Despite the massive unstaking flow, the Ethereum network still shows resilience. The queue for new staking remains at 3.6 million ETH, or about seven times the size of the withdrawal queue. Currently, 31.7% of the total Ether supply remains locked within the network, which is expected to serve as a buffer against selling pressure to prevent the price from falling below the critical support level of $2,241.