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Ethereum: Validator Exits Post-$41 Million Hack
NFT Gaming

Ethereum: Validator Exits Post-$41 Million Hack

by admin September 11, 2025


  • Kiln exits all of its Ethereum (ETH) validators: Details
  • Swissborg loses $41 million after third-party API attack

As part of “additional precautionary measures to safeguard client assets,” Kiln, a large-scale staking platform, is exiting Ethereum (ETH) validators. This might significantly increase the exit queue of the second-largest blockchain.

Kiln exits all of its Ethereum (ETH) validators: Details

According to the official statement shared by its team, Kiln, a multi-blockchain staking protocol, is exiting all of its Ethereum (ETH) validators. The withdrawal is organized as part of security measures following the Sept. 8, 2025, attack on its partner.

1/10 đź§µ Following our announcement yesterday regarding the Solana incident involving SwissBorg, Kiln is taking additional precautionary measures to safeguard client assets across all the networks.https://t.co/ePKBaStIet

— Kiln 🧱🔥 (@Kiln_finance) September 9, 2025

Laszlo Szabo, co-founder and CEO at Kiln, explained the motivation behind the ETH validation exit for his company:

We took immediate action once we identified a potential compromise in our infrastructure. Exiting validators is the responsible step to protect stakers, and we are monitoring the process closely to ensure the security and reliability of our services.

The exact volume of Ether that was staked by Kiln — as well as the number of validator nodes it operated — remains undisclosed. At the same time, Szabo specified that the exit will take between 10 and 42 days.

Clients’ funds remain safe, the statement says.

Observers noticed that the validator exit queue added 700,000 ETH since the hack.

Swissborg loses $41 million after third-party API attack

Two days ago, on Sept. 8, 2025, Swissborg, a Kiln partner, registered a hacker attack. The malefactors used leaked API keys to access funds, including Solana (SOL) holdings.

The net volume of assets affected exceeds $41 million in equivalent. This is roughly equal to 1% of all assets under management at Swissborg.

The company has already announced plans to fully reimburse all clients whose funds have been stolen by attackers.





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September 11, 2025 0 comments
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ETH/USD (TradingView)
NFT Gaming

Ethereum Staking Queue Overtakes Exits as Fears of a Sell-off Subside

by admin September 6, 2025



Ethereum’s validator entry queue has surged past the exit queue for the first time in weeks, signaling renewed demand to stake ether (ETH) just as fears of a major sell-off subside.

At the time of writing, 932,936 ETH ($4 billion) sits in the entry queue compared with 791,405 ETH ($3.3 billion) in the exit queue, according to validatorque.com data. Three weeks ago, the exit queue stood at 816,000 ETH, leading to concerns over whether the market would be able to absorb sell pressure once the tokens were unlocked.

The turnaround was fueled in part by an Ethereum ICO participant who resurfaced after eight years of dormancy. The long-term holder moved 150,000 ETH ($645 million) into staking earlier this week.

Read more: Ethereum ICO Whale Stakes $646M After Three Years Dormant

The investor originally bought 1,000,000 ETH for just $310,000 during Ethereum’s 2014 token sale. Even after staking, the wallet retains 105,000 ETH ($451 million) across two wallets, with the bulk of his holdings untouched.

ETH/USD (TradingView)

Ether has been down by around 4% since Aug. 15, when the exit queue hit 816,000, hardly the sell-off that many predicted despite a wider market pullback. During the same period, BTC was down by 7%, while several altcoins experienced double-digit declines.

Long-term bet

Ethereum’s proof-of-stake system continues to act as both a release valve and an attractor of capital. While last month’s exits reflected nervousness, today’s entry queue flip highlights confidence in long-term staking rewards and potential structural demand from ETFs.

As DeFi analyst Ignas noted in August: “While the unstaking queue is at ATH, so are ETF inflows.”

Now, with exits cooling and entries surging, the balance may be tilting back toward staking as a long-term bet on Ethereum’s growth.



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September 6, 2025 0 comments
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The Bluesky app logo appears on the screen of a smartphone lying on a laptop keyboard
Gaming Gear

Bluesky exits Mississippi over age verification row

by admin August 26, 2025



  • Bluesky has decided to exit Mississippi in response to the new age verification law
  • Under the law, social media platforms need to verify all users’ ages before granting them access
  • People in Mississippi may be able to keep accessing Bluesky by spoofing their IP address with a VPN

Bluesky has decided to exit Mississippi in response to the new age verification law, which now requires social media platforms to verify the age of every user before granting them access.

Elon Musk’s X rival warns that the new requirements “would fundamentally change how users access Bluesky,” while opening up to privacy and security challenges that would impact smaller providers in particular.

Therefore, starting Friday, August 22, 2025, Bluesky is blocking all traffic from Mississippi IP addresses. This, however, means that users based in the state may be able to turn to the best VPN services to keep using the app.


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“We do not take this decision lightly,” wrote Bluesky in its official announcement, while ensuring that child safety remains a core priority. Yet, “We think this law creates challenges that go beyond its child safety goals, and creates significant barriers that limit free speech and disproportionately harm smaller platforms and emerging technologies.”

Being a decentralized platform, the block applies only to the Bluesky app built on the AT Protocol. “Other apps and services may choose to respond differently,” explains the provider.

Why is Bluesky worried about Mississippi’s age verification approach?

As per Mississippi’s HB1126 law, which was upheld by the US Supreme Court on August 14, all social media platforms must verify that every user accessing the platform is over 18 and obtain parental consent for all minors looking to use the app.

The law also requires tech providers to identify and keep track of all teen and child users. Fines for non-compliance can reach up to $10,000 per user.

“Building the required verification systems, parental consent workflows, and compliance infrastructure would require significant resources that our small team is currently unable to spare as we invest in developing safety tools and features for our global community,” explains Bluesky.

The economic burden is only half of the story, though.

Bluesky is also concerned that the “law’s broad scope” could affect all citizens in Mississippi (not only minors) to use their favorite platforms, negatively impacting their right to free speech and access to information.

The provider also warns against the privacy implications that could stem from collecting and storing such sensitive information about all users, as well as from tracking minors online.

Unfortunately, Bluesky is unavailable in Mississippi right now, due to a new state law that requires age verification for all users.
While intended for child safety, we think this law poses broader challenges & creates significant barriers that limit free speech & harm smaller platforms like ours.

— @bsky.app (@bsky.app.bsky.social) 2025-08-26T14:19:50.674Z

Age checks aren’t the real issue here, either. Bluesky was indeed one of the first providers to enforce age verification rules in the UK.

Yet, there’s a substantial difference between the two laws.

Under the UK Online Safety Act, Bluesky and similar providers are required to verify users’ age only for accessing content deemed legal but harmful.

“Mississippi’s law, by contrast, would block everyone from accessing the site – teens and adults – unless they hand over sensitive information, and once they do, the law in Mississippi requires Bluesky to keep track of which users are children,” explains the provider.

Can a VPN help?

(Image credit: Getty Images)

The Bluesky app is now set to block access to all Mississippi IP addresses “until legal challenges to this law are resolved,” explains the provider.

A virtual private network (VPN), however, could help you get back online. A VPN is security software that not only encrypts all your internet connections but also spoofs your IP address by rerouting your traffic via one of its international servers.

Therefore, if you’re in Mississippi and want to keep accessing Bluesky, all you need to do is connect to a VPN server based where the app is available.

Remember, though, to use only reliable and secure services to ensure your data stays safe. At the time of writing, NordVPN is TechRadar’s top recommendation. If you aren’t willing to pay for a subscription just yet, I suggest checking our best free VPNs guide, with PrivadoVPN and Proton VPN being today’s top picks.

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August 26, 2025 0 comments
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Jesse Hamilton
NFT Gaming

Head of IRS Crypto Work Exits as U.S. Tax Changes Loom For Digital Assets

by admin August 22, 2025



The head of the U.S. Internal Revenue Service’s digital assets unit, Trish Turner, is leaving her post for the private sector just as new tax policies are set to potentially bring in a wave of crypto work for the agency.

As she departs, it’s unclear who will be running the office that’s been leading the tax agency’s crypto work as a major shift in U.S. digital assets taxation is on the horizon. Turner’s exit comes after the IRS set several new rules and forms in motion to direct taxation requirements for individual crypto investors and their brokers. And the departure comes after two other top officials on crypto work, Seth Wilks and Raj Mukherjee, already left through the Trump administration’s budget-slashing campaign earlier this year.

The tax arm of the Treasury Department is poised to experience a massive influx of crypto-sector filings while it’s also weathering deep budget and staffing cuts in excess of 20,000 employees. IRS staffing — long a target of Republican lawmakers — has experienced a long-term decline from about 113,000 three decades ago to about 76,000 at a recent count.

One of the major crypto changes at the IRS was the new 1099-DA form that millions of investors will be receiving from their crypto brokers. About 3 million taxpayers have previously disclosed they had crypto transactions — a number that’s likely much higher in reality, setting up a potential glut of newly disclosed crypto taxpayers as the policies come online. The IRS didn’t respond to questions about Turner’s departure and who will take over.

“Digital assets have shifted from a niche issue to a core focus for global regulators, and I am proud to have helped lay the foundation for oversight in this fast-changing space,” Turner said in a statement to CoinDesk. “Now, I’m excited to be moving to the other side of the table to help taxpayers, businesses, and institutions understand their obligations and navigate those same rules with confidence.”

Among the private-sector roles she’s taking on, Turner will be tax director at the firm CryptoTaxGirl, a tax business that specializes in crypto transactions, and will also do work with the UK firm Asset Reality, she said.

Laura Walter, CTG’s founder, said in a statement that Turner’s arrival will help “ensure our clients receive the highest level of guidance, protection, and confidence in their filings.”

For years, crypto investors and businesses have struggled through U.S. tax uncertainties, with no third-party documentation to make their tax-filing requirements clear. So a large segment of digital assets holders have skipped their crypto tax calculations in past years, further muddying the water for the IRS.

Because the new 1099-DA forms will be flowing from crypto investors’ accounts at such firms as Coinbase and Kraken early next year, those recipients will be under increased pressure to work out and disclose their tax positions. But one IRS rule that sought to treat certain decentralized finance (DeFi) platforms as brokers was overturned by Congress in April, leaving treatment of that corner of the crypto sector on less certain ground.Read More: The Coming Crypto Tax Bomb



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August 22, 2025 0 comments
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