Unpacking Today’s Crucial Crypto News: Across Protocol, Record Hacks, and Ripple SEC Ruling

The cryptocurrency world never sleeps, and today was no exception. From contentious governance battles to staggering security breaches and pivotal legal rulings, staying informed is key. Let’s dive into the **crypto news** that shaped the digital asset landscape today, offering you the essential **daily crypto insights** you need to navigate this dynamic market.

Across Protocol Under Scrutiny: Allegations of $23 Million Fund Misuse

A significant development in today’s **crypto news** involves Across Protocol, a prominent cross-chain bridge. Its founders are facing serious accusations of manipulating DAO governance to channel a substantial $23 million in tokens to their affiliated for-profit entity, Risk Labs. These claims were brought forward by Ogle, a pseudonymous founder and on-chain sleuth, who suggested that Across Protocol might be among the ‘DAOs that are DAOs in name only.’

Hart Lambur, who founded both Risk Labs and Across, has vehemently denied these allegations. He asserts that Risk Labs operates as a Cayman Islands-based nonprofit with no shareholders, providing a certificate of incorporation to support his claim. Lambur emphasized that the company operates under fiduciary obligations, stating, ‘If the funds are misused, you can sue the directors (me!).’ Crypto News Insights independently verified Risk Labs’ registration as a ‘foundation company’ in the Cayman Islands. However, it’s worth noting, as law firm Harneys explains, that such firms can serve any purpose, whether commercial, charitable, or private.

The Alarming Rise of Crypto Hacks: Over $2 Billion Lost in H1 2025

Security remains a pressing concern, and the latest report on **crypto hacks** paints a stark picture. TRM Labs reported that a staggering $2.1 billion worth of crypto was lost to attacks in the first half of 2025 alone. This figure has already surpassed the previous record set in 2022 by roughly 10% and nearly equals the total losses from all of 2024, highlighting an escalating threat to digital assets.

The report detailed the primary attack vectors:

• Infrastructure Attacks: These accounted for 80% of the losses, driven by exploits such as private wallet key compromises and crypto protocol front-end vulnerabilities.
• Protocol Exploits: Flash loan and re-entrancy attacks contributed to 12% of the crypto losses.

A single incident, the $1.5 billion hack of Bybit in February (linked to North Korea), made up nearly 70% of the total losses for the year so far. TRM Labs underscored the critical need for ‘multifaceted collaboration’ among global law enforcement, financial intelligence units, and blockchain intelligence firms to combat these sophisticated threats.

Ripple SEC Legal Battle: Judge Denies Joint Penalty Reduction Request

In a significant legal development for the digital asset space, a U.S. district court denied a joint motion from the U.S. Securities and Exchange Commission (**Ripple SEC**) and Ripple. The motion sought an indicative ruling to reduce a $125 million civil penalty and reverse an earlier order defining primary sales of XRP to institutional investors as securities transactions under Article 5 of the Securities Act.

Judge Analisa Torres, presiding over the United States District Court for the Southern District of New York, stated that the court would not undo its earlier rulings, which she found consistent with federal securities laws. Judge Torres elaborated on her decision:

“Ultimately, the Court granted in part the SEC’s request for an injunction and a civil penalty because the Court found that ‘Ripple’s willingness to push the boundaries of the [Summary Judgment] Order evinces a likelihood that it will eventually, if it has not already, cross the line.’ None of this has changed — and the parties hardly pretend that it has. Nevertheless, they now claim that it is in the public interest to cut the Civil Penalty by sixty percent and vacate the permanent injunction entered less than a year ago.”

The judge clarified that any reduction in the penalty or reversal of the lower court’s initial rulings must occur through the congressionally stipulated appeals process, not by directly petitioning the district court to reverse its own orders.

Navigating Today’s Crucial Crypto News

Today’s **crypto news** highlights the multifaceted challenges and dynamic nature of the cryptocurrency ecosystem. From governance controversies within DAOs like **Across Protocol** to the persistent threat of large-scale **crypto hacks** and ongoing regulatory battles involving entities like **Ripple SEC**, the landscape demands constant vigilance and informed decision-making. These events underscore the importance of robust security practices, transparent governance models, and clear regulatory frameworks for the industry’s sustainable growth. Staying updated on these developments is crucial for anyone involved in or observing the digital asset space.