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XRPL Handles Permission Delegation After Critical Bug Discovery 🖤🕷️

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XRPL just yanked its Permission Delegation amendment after a bug bounty report uncovered a high-risk flaw during testing 🖤. A hardened V1.1 version has now wrapped up security review and QA checks 😈.

XRPL Reworks Permission Delegation Post Bug Discovery 🌑

This whole thing proves delegation at the protocol level demands solid safeguards way past the basic feature itself. Permission Delegation, aka XLS-75, lets one account hand specific powers to another without giving full control over everything lol. RippleX head of engineering J. Ayo Akinyele explained how the original V1.0 got pulled once a vulnerability surfaced via the bug bounty program before hitting mainnet 💀. Instead they rolled out V1.1 to split the old code from the tougher release.

Delegation Testing Goes Wide Across XRPL Surface 🕸️

Researcher Shotes found a high-severity problem with irrevocable delegate permissions where someone could delete and recreate their account while keeping powers with zero way to revoke them 🔮. V1.1 handles more than a single fix tho by addressing edge cases around delegate identity and blocking newer stuff like Vault and Lending ops from accidental delegation 🔥. It also sorts reserve accounting for delegated payments and closes a multi-signing loophole that might skip checks. QA reports from Ramkumar SG on August 26 logged 179 dedicated tests including 112 functional ones and 48 adversarial security checks 💫. XRP Ledger Operations said every finding got fixed in V1.1 and verified by Cantina with no regressions across 5,088 tests. The feature hit dev in May 2025, got marked unsupported in September, renamed in October, and re-supported by June 2026. For users and custody providers the core capability stays the same as V1.1 only tweaks the activation conditions.

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Consensys and MetaMask Plan to Break Free as Separate DeFi Players by End of 2026 🦇🖤

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Consensys just dropped the news that it’s splitting into two separate companies by the end of 2026. MetaMask is going full consumer self-custodial finance while the other Consensys focuses on Ethereum protocols and institutional stuff.

MetaMask Shifting Into Consumer Finance Vibes 🖤

This reorganization ends that one company setup after over a decade. MetaMask gets the self-custodial wallet with over 100 million downloads in roughly 190 countries and trillions in transaction volume. It’s turning into more than a wallet tho like a spot where people manage all their money forms. Joe Lubin is stepping in full-time as Chairman and CEO of MetaMask plus Executive Chairman of Consensys. Mike Kriak takes over as CEO of Consensys with David Cunningham as President.

Consensys Holding Onto The Institutional Stack 🌙

The new Consensys keeps the Protocols Group including Linea Layer-2, Besu client, Teku plus tokenization work for banks. MetaMask stays Ethereum-first while building Money Account for automated earning, instant spending and one-click trading all in one balance. It follows their launch of mUSD stablecoin through Stripe’s Bridge and a Mastercard card too. Lubin confirmed a MetaMask token and DAO plans ahead. Financial institutions are moving to on-chain tokenized assets. The Besu client already supports permissioned EVM networks and Linea is decentralizing with its new LINEA token. Citi’s report estimates tokenized assets hitting 5.5 trillion to 8.2 trillion by 2030. Lubin noted the two companies will keep building the same ecosystem but with focused vibes each side needs ✨.

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Malone Lam’s Defi Scheme Unravels as the 22-Year-Old Kingpin Pleads Guilty 🦇🖤

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Malone Lam, this Singaporean cutie turned Miami menace, just copped a guilty plea in Washington D.C. for jumping into a wild international cybercrime plot that snatched and washed over $245 million in crypto 💸🖤.

Biggest RICO Plea In Crypto Crime Saga 😈

The whole thing kicked off no later than October 2023 and ran wild through May 2025, with the crew linking up on gaming platforms before spreading into spots like California, Connecticut, New York and Florida plus overseas vibes 🌙. They used sneaky social engineering mixed with occasional home invasions to drain those wallets dry lol. Attorney Jeanine Ferris Pirro dropped the news right after Lam stood before Judge Colleen Kollar-Kotelly, and a status hearing got set for December 8, 2026 ✨.

Luxury Nights And Exotic Flexing Gone Sinister 🔪

Dude went by aliases like Anne Hathaway, $$$ and King Greavy while calling shots and handing out roles to hit the richest targets. The stolen crypto got burned on $500,000 nightclub blowouts, designer bags worth tens of thousands handed out like candy at parties, and watches ranging from $100,000 to over $500,000 🕸️. They also blew cash on luxury threads, rented spots in Los Angeles, the Hamptons and Miami, plus private jets, security teams and exotic cars from $100,000 up to $3.8 million 💀. Lam got nabbed on September 18, 2025 at his Miami rental, and the official court docs spill all the tea fr. This empire built on deception just crumbled, but the hunt for the rest keeps rolling with the FBI and IRS-CI 🌹.

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Jump’s Hyperliquid Position Surges As Volumes Near 150 Billion 🕷️🖤

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Jump Trading has racked up nearly $150 billion in trading volume on Hyperliquid since dropping their first deposit on December 12 2025 according to Hyperdash co founder Hanson Birringer who mapped the whole activity. 💀

Jump Trading’s Wild Hyperliquid Plays ✨

Jump runs one master account with 16 subaccounts and their trades now make up almost 8% of all perpetual futures volume on Hyperliquid plus 19% in xyz markets. In July it spiked to nearly 18% of total exchange volume and 29% of xyz volume 🚀 after a week of testing in December where they moved $153 million across BTC SOL and HYPE before funding the master account.
https://x.com/HansonBirringer/status/2097313875913830762
Each wallet plays a specific role like separate spots for crude oil Brent natural gas and new stock listings while the big book covers the S&P 500 XYZ100 SK Hynix silver gold and memory names. Their game is mostly taker volume with maker fills only hitting 11% to 35% of activity 😈 and it looks like a hedging or arbitrage setup paired across venues to snag spread and funding rate gaps.

Institutional HYPE Holdings Getting Dark 🌑

Jump currently sits long $32 million of Brent and $16 million of CL while shorting gold silver MU NVDA DRAM SK Hynix XYZ100 and megacaps for a total $145 million notional against $63.6 million account value. By market they own 38% of DRAM volume 36% of NATGAS 33% of Brent 32% of SP500 26% of XYZ100 and 16% of CL though just 2.6% of BTC volume. From April to August the master account ramped up gossip priority feature use paying 966 HYPE mostly in May before stopping and they have dropped about $7 million in fees while netting only a few hundred thousand in PNL 💸 so this is clearly one slice of a bigger multi venue market making operation.
Their $65 million USDC margin is also pulling in an extra $1.8 million yearly for Hyperliquid via the new AQAV2 fee setup. HYPE hit an all time high of $89.60 on September 6 and has stuck close since with fresh data showing institutional holds in three HYPE funds like the Bitwise Hyperliquid ETF 21Shares Hyperliquid ETF and Grayscale Hyperliquid Staking ETF. Bloomberg Intelligence analyst James Seyffart noted second quarter 13F filings had 30 managers holding around $75 million total in those funds 📉 with Wealth High Governance Asset Management leading at nearly $24 million followed by OLP Capital Management at $10.5 million UBS at $7.5 million Bank of Montreal near $6.7 million and Jane Street Group at about $4.4 million plus others like Discovery Capital Brevan Howard Flow Traders Virtu Financial and HighTower Advisors. Last month Trump mentioned Commodity Futures Trading Commission Chair Michael Selig pushing the perpetuals platform into the US in a fully compliant way adding hype around expansion 🔥.
https://x.com/JSeyff/status/2095926084298498313
🖤👀

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