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Project Overview
USDT0 is a stablecoin built using LayerZero's OFT Standard for deployments and asset transfers to new chains. USDT0 tokens can be redeemed by unlocking the corresponding USDT on Ethereum, from any supported chain, which always maintains a strict 1:1 backing.
Lending protocol Purrlend suffered an attack, with losses of approximately $1.52 million
the lending protocol Purrlend was attacked on the MegaETH and HyperEVM networks, resulting in losses of approximately $1.52 million. The attacker extracted approximately $1.2 million in assets from the HyperEVM network, including 449,683 USDC, 214,125 USDT0, 194,745 USDH, and portions of UBTC, wstHYPE, UETH, kHYPE, and WHYPE. The attacker also extracted approximately $324,000 in assets from the MegaETH network, including USDT0, WETH, and USDm. Purrlend has since paused the protocol and launched an investigation. The attacker's address has been identified on the block explorers of both networks.
USDT0 Resumes Cross-Chain Bridging Service: Previously Paused Preventively Due to the rsETH Incident; System Integrity Remains Unaffected
According to an official announcement by USDT0 (@USDT0_to), the USDT0 cross-chain bridging infrastructure resumed normal operations today. System integrity and risk exposure remain unaffected, and all pending transactions submitted prior to the suspension have been safely settled. Previously, on April 19, USDT0 proactively suspended its OFT bridging service as a precautionary measure pending the conclusion of the KelpDAO rsETH incident investigation. USDT0 emphasized that it bears no risk exposure related to this incident, and all USDT0 tokens remain fully backed 1:1 by USDT.
Lending protocol Purrlend suffered an attack, with losses of approximately $1.52 million
the lending protocol Purrlend was attacked on the MegaETH and HyperEVM networks, resulting in losses of approximately $1.52 million. The attacker extracted approximately $1.2 million in assets from the HyperEVM network, including 449,683 USDC, 214,125 USDT0, 194,745 USDH, and portions of UBTC, wstHYPE, UETH, kHYPE, and WHYPE. The attacker also extracted approximately $324,000 in assets from the MegaETH network, including USDT0, WETH, and USDm. Purrlend has since paused the protocol and launched an investigation. The attacker's address has been identified on the block explorers of both networks.
The KelpDAO attacker bridged funds to Arbitrum and then transferred them to TRON.
According to on-chain analyst PeckShield (@PeckShieldAlert), the KelpDAO attacker has transferred ETH from Ethereum to Arbitrum via the Across Protocol, swapped it for USDT, and then routed the funds to TRON DAO via LayerZero.
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Data: USDT0 users are predominantly small holders, with over 99% holding less than $1,000
According to the latest data from the omnichain stablecoin USDT0, its user base is primarily retail: approximately 99.2% of holders have wallet balances under $1,000, only about 1,200 addresses hold between $100,000 and $1 million, and just 35 addresses hold over $10 million.The report notes that the main use case for USDT0 is small-value cross-chain transfers, with active users primarily engaged in daily transactions rather than large fund flows. However, in terms of transaction volume, single transfers exceeding $1 million still account for approximately 68.8% of the total transfer volume.USDT0 was launched by Everdawn Labs and is supported by LayerZero and Tether, pegged 1:1 to USDT. It has currently expanded to 23 chains, with a total transaction volume of $86.7 billion, becoming the third-largest holder of USDT, trailing only Binance and OKX. (The Block)
Lending protocol Purrlend suffered an attack, with losses of approximately $1.52 million
the lending protocol Purrlend was attacked on the MegaETH and HyperEVM networks, resulting in losses of approximately $1.52 million. The attacker extracted approximately $1.2 million in assets from the HyperEVM network, including 449,683 USDC, 214,125 USDT0, 194,745 USDH, and portions of UBTC, wstHYPE, UETH, kHYPE, and WHYPE. The attacker also extracted approximately $324,000 in assets from the MegaETH network, including USDT0, WETH, and USDm. Purrlend has since paused the protocol and launched an investigation. The attacker's address has been identified on the block explorers of both networks.
The KelpDAO attacker bridged funds to Arbitrum and then transferred them to TRON.
According to on-chain analyst PeckShield (@PeckShieldAlert), the KelpDAO attacker has transferred ETH from Ethereum to Arbitrum via the Across Protocol, swapped it for USDT, and then routed the funds to TRON DAO via LayerZero.
USDT0 Resumes Cross-Chain Bridging Service: Previously Paused Preventively Due to the rsETH Incident; System Integrity Remains Unaffected
According to an official announcement by USDT0 (@USDT0_to), the USDT0 cross-chain bridging infrastructure resumed normal operations today. System integrity and risk exposure remain unaffected, and all pending transactions submitted prior to the suspension have been safely settled. Previously, on April 19, USDT0 proactively suspended its OFT bridging service as a precautionary measure pending the conclusion of the KelpDAO rsETH incident investigation. USDT0 emphasized that it bears no risk exposure related to this incident, and all USDT0 tokens remain fully backed 1:1 by USDT.