News

On June 8, the modular L1 blockchain Syscoin released a preliminary post-incident report regarding a security event. Attackers exploited a validation vulnerability in the cross-chain relay path to illegally mint approximately 5 billion SYS on the UTXO side. Following the incident, Syscoin's cross-chain operations have been suspended. The illegally minted funds have been transferred and divided, currently concentrated in two main addresses. The team has contacted multiple exchanges and ecosystem partners to request the freezing or monitoring of funds related to the contaminated UTXO. Additionally, the team has identified the affected validation path and developed a remediation plan, which is currently being prioritized for implementation along with the correction of the illegal SYS output. The official reminder to users is to refrain from any interactions during the cross-chain suspension period, and they will continue to provide updates on the situation.

BlockBeats News, June 8th, according to Hyperinsight monitoring, this morning BTC experienced a short-term sharp rise within 5 minutes, reaching above $64,000. During this minute-level "price spike," several large short positions in the $63,000 to $64,000 range were liquidated in succession. The Hyperliquid platform underwent 10 consecutive million-dollar liquidations, with the largest single liquidation amounting to $6.06 million and a liquidation price of $63,224. The largest liquidation in this round of trading was a 40x leveraged BTC short position opened last Friday. The address was shorting 195.8 BTC. As BTC plunged from $62,700 to $63,700 this morning, the trader manually closed part of the position whenever it approached the liquidation price. Within one minute, the position was manually closed 6 times. In total, 190 BTC were liquidated passively last night and this morning, totaling approximately $12.3 million. Currently, the remaining position is a short of 5.8 BTC. Address: 0xdfbdbc3ab86f6939cd303ea2b7f9c1b3a4e0685f

BlockBeats News, June 8th, Renowned trader Killa (@KillaXBT) stated yesterday that BTC has entered the "final stage" and "ultimate extension," and has allocated 90% of the portfolio. In addition, Killa mentioned that there are still a large number of buy walls below the current Bitcoin price on an exchange that have not been withdrawn. He believes that the possibility of quickly reaching these support levels in the short term is low. As a quant trader focusing on BTC, Killa accurately predicted the peak of this bull market in May 2025 and has over 180,000 followers on Platform X. In mid-April, he shorted Bitcoin at $74,688.