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first_img OneKey reproduces the transaction replacement attack targeting the old version of the Ledger Ethereum application

The security team of the open-source wallet provider OneKey successfully replicated the exploitation of a vulnerability in the old version of the Ledger Ethereum application in a laboratory environment. OneKey's founder and CEO Wang Yishi stated that they executed a "transaction replacement attack" on Ledger Ethereum application version 1.22.1 by exploiting a previously patched vulnerability, allowing attackers to overwrite pending transactions while users review legitimate transactions.Ledger responded that exploiting this vulnerability requires controlling the communication between the device and the host, such as through malware, compromised wallet software, or malicious web pages. Ledger has added application layer protections in the Ethereum application version 1.22.2 released on August 13 and fixed the underlying issue in Secure SDK 26.6.1 on August 21. Ledger emphasized that no users were hacked as a result; this was merely a replication of the vulnerability in a laboratory environment.This security test occurred after the Coldcard vulnerability incident. Previously, the Coldcard wallet had a firmware vulnerability that posed security risks to some mnemonic phrase generation, but Ledger stated that its devices were not affected by this vulnerability because recovery phrases are generated by a certified random source built into the device's secure chip. The vulnerability replicated by OneKey is unrelated to mnemonic phrase generation but affects the way transactions are processed during the signing process.

first_img HPC Report: Perpetual contracts are a supplement to futures contracts rather than a replacement, achieving risk transfer at a lower cost

The latest research report from the Hyperliquid Policy Center (HPC) states that perpetual contracts expand hedging options and improve price discovery, with no evidence found of statistically significant harm to the benchmark futures market. The report argues that perpetual contracts are complementary to traditional futures with expiration dates, rather than zero-sum substitutes.The study utilizes the natural experiment of traditional markets being closed on weekends while perpetual markets continue trading, comparing 205 weekends of Bitcoin trading and 19 weekends of on-chain crude oil perpetual (xyz:CL) samples. The report states that expiring futures require calendar-based forced rollovers, with the cost of rolling a $10 million exposure on the Monday of April 2026 being about $950,000, while on Friday it is about $110,000; perpetual positions do not have this forced cost. The median transaction price for on-chain crude oil perpetual during non-trading hours is about $1,300, approximately one percent of the benchmark WTI median transaction price.HPC also provides an example where the crude oil weekend repricing on the week of March 6, 2026, was 15.8%, with the benchmark market completely closed; if hedged through on-chain crude oil perpetual, a $10 million position loss could be reduced from about $1.58 million to approximately $62,000 (after accounting for all costs).

Insiders: Harris's main donors privately urged the replacement of FTC Chair Lina Khan and SEC Chair Gary Gensler

ChainCatcher news, according to Bloomberg, major Democratic donors on Wall Street are intensifying their efforts to urge Vice President Kamala Harris's team to replace Federal Trade Commission (FTC) Chair Lina Khan and Securities and Exchange Commission (SEC) Chair Gary Gensler if she wins the election in November.According to informed sources, these wealthy donors have repeatedly named Khan during calls and fundraising events, accusing her of hindering the development of the tech industry and other economic sectors. Since IAC Chairman Barry Diller and LinkedIn co-founder Reid Hoffman publicly called for Khan's removal in July, discussions about a private replacement have become increasingly heated.At the same time, some insiders have indicated that bipartisan donors are also dissatisfied with Gensler, believing he has an arrogant attitude towards Wall Street. Billionaire Mark Cuban stated this week to CNBC that he has asked the vice president's team to consider him for the SEC chair position.Although donors may continue to lobby privately, they are unlikely to stop their contributions over the issue of Khan's fate. Harris's team has also not made a clear statement to donors regarding Khan's position. FTC spokesperson Douglas Farrar declined to comment, while SEC spokesperson stated that its initiatives are aimed at improving the efficiency, transparency, and resilience of U.S. capital markets.
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