Kaspa Class

Binance's initial investigation suggests that the security incident may involve a compromised DevOps engineer’s laptop, which allowed an attacker to gain access to a service container and submit unauthorized withdrawal transactions. We have found no evidence of any wallet private key leak. We will share a detailed technical post-mortem once the investigation is complete and the facts are fully verified. The estimated total impact sits at around $6.3B. We have worked with blockchain partners to freeze affected assets, with ~$3 billion frozen on-chain so far. Binance will cover all losses from the SAFU fund and the company’s funds. User funds are safe. We will also publish an updated Proof of Reserves once the remediation is complete. As an immediate precaution, Binance has: - temporarily suspended deposits and withdrawals while security checks are completed; - revoked the affected address authorisation; - engaged law enforcement and blockchain intelligence partners to trace and recover funds. Our teams are working around the clock to resolve this issue safely and thoroughly. We are working closely with our law enforcement partners to confirm the identity of these criminals and bring them to justice. Please rely only on official Binance channels for updates. Please feel free to contact Binance Customer Support if you have any further questions. binance.com/en/support/annou…

Today we are introducing KaspaDollar, an initiative led by core developer @asaefstroem to build the first decentralized stablecoin on the $KAS network. The developments around @kccforum and the Toccata hardfork have considerably widened what Kaspa is capable of. Capability alone, however, does not make an ecosystem. Decentralized finance requires a unit of account that holds its value, and until Kaspa has a stablecoin of its own, every application built on it will remain dependent on assets issued elsewhere. The design we intend to follow is the decentralized, overcollateralized stablecoin: a pattern whose security properties have been examined and tested across the industry for the better part of a decade. With the support of the core team, we consider the conditions right to bring it to Kaspa. Realizing this requires development, an independent audit, further research, and the operational work of taking a protocol from specification to production. To fund it, we are opening a fundraiser with a target of 5,000,000 KAS. Contributions are made directly to the fundraising address published on the website. Should the target not be reached by 1 January 2027, every contribution will be returned to the address from which it was sent. Up until that point, this account will share the plans, details and progress of the work as it develops.

Big congrats to the $QUBIC team for resolving this issue so quickly! You guys did an amazing job! I was honestly losing faith, but well done! Especially to the core dev, Joetom. Everyone is going to get their funds back, and for those questioning decentralization, this was a decision made by a group of computers that don’t know each other. Centralization is when one person or entity controls a network. This is not what happened here. And do not confuse decentralization with chaos.

The funds are contained Computors coordinated a protective halt of the network at tick 85,371,949. No transactions are processing, so the drained funds cannot be moved or sold while this is resolved.

kaspa is an open network for money and apps, secured by proof of work. you can transact without needing anyone’s approval. devs can build assets and contracts with rules the network itself enforces. miners compete to produce blocks through computing power and electricity, not the size of their KAS wallet. an attacker trying to undo a confirmed transaction has to compete against the combined mining power of the entire honest network while it keeps mining. even then, they can’t make nodes accept transactions that break the rules. kaspa includes and orders blocks mined in parallel, so miners blocks aren’t discarded simply for losing a race. those frequent blocks let the network reach agreement in seconds while keeping bitcoin’s proof-of-work security principles. kaspa calls this real-time decentralization.

To be frank, joining this forum comes with some discomfort for me. I’m used to taking ownership of core tech that might otherwise remain unbuilt (compilers included). Taking part in ecosystem-wide coordination is a different kind of ownership, and not one I seek for its own sake. But as Kaspa’s native application layer grows, shared conventions are becoming too important for us to simply assume they will emerge on their own. When gaps persist, those with the relevant knowledge should take responsibility rather than wait. My ideal outcome is for serious contributors from across the ecosystem to join, take real ownership of the work, and eventually make my role here unnecessary. That would be a sign of success to me.

When made a decision to be merged mined with kaspa:native from block 1, our own miners were unhappy - they would receive more $ZKAS if we stayed on own algo or on KheavyHash without merged mining. We chose this way to reward #Kaspa miners to partially solve its network security problem - help where we were able to. Every hate message we get is a message to any developers who are building for/with Kaspa. Highly appreciate those who see positivity in ZKas or just watch it neutrally. We will keep building ZKas - fastest privacy L1.

$KAS What’s your take on Bitcoin BIP-110?Feels like it could have serious implications either way. A chain split around late Aug / early Sept isn’t impossible. Curious how this plays out...🤔

started to record a short 10-min live-coding argent episode: a basic multi-actor ticketing app. one hour later, episode 01 exists 😅 start here: github.com/argent-lang/argen… written code: github.com/argent-lang/argen…