Mobius Token Smart Contract Hack on BNB Chain Drains $2.15 Million

Monicah W

A critical vulnerability in the Mobius Token (MBU) smart contract on BNB Smart Chain has led to a $2.15 million loss, adding to the growing list of crypto-related exploits in 2025. Mobius is a lesser-known project within the BNB ecosystem.

The attack, confirmed by Web3 security firm Cyvers on May 11, involved a malicious hacker who took advantage of a flaw in the MBU minting mechanism.

Mobius Attacker Moves Fund Through Tornado Cash

According to Cyvers, the incident began at 07:31 UTC when a wallet (0xB32A5) deployed a rogue contract. Just two minutes later, another address (0x631adf) initiated a series of suspicious transactions.

Using only 0.001 BNB, the attacker minted 9.73 quadrillion MBU tokens and quickly exchanged them for stablecoins, netting $2.15 million. In the same process, the attacker also gained an additional 28.5 million MBU tokens.

After the exploit, the stolen assets were moved to Tornado Cash, a popular protocol that anonymizes transactions.

Mobius Attacker Fund Flow Through Tornado Cash.
Mobius Attacker Fund Flow Through Tornado Cash. Source: Cyvers

The method and speed of the exploit point to a calculated move to evade tracking and asset recovery. This incident further highlights the persistent vulnerabilities facing smart contract-based systems.

Meanwhile, this Mobius hack makes it the latest victim in a wave of blockchain exploits that have resulted in the loss of around $2 billion across various platforms, including Bybit.

mobius defi hack
Funds Drained from Mobius. Source: Cyvers

BNB Chain Activity Surges

Despite isolated incidents like the Mobius breach, BNB Chain is witnessing a significant resurgence in user and developer activity. Over the past months, the network has reemerged as a top contender in the DeFi space.

Data from DefiLlama shows that the total value locked (TVL) on BNB Chain has surpassed $10 billion, reaching a three-year high. However, it is still significantly below the 2021 all-time high of more than $40 billion.

BNB Chain TVL.
BNB Chain TVL. Source: DeFillama

BNB Chain also recently claimed the top spot in the decentralized exchange (DEX) sector, outpacing both Ethereum and Solana.

Market observers noted that the network’s growth is fueled by fresh institutional interest, an increase in DeFi participation, and strong demand for on-chain assets.

Moreover, the momentum can also be partly attributed to Binance’s continued influence and Changpeng Zhao’s renewed focus on the blockchain network.

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Gate.io 12th Anniversary: Dr. Han Reveals the Next-Gen Exchange Vision

Gate.io, a world-leading cryptocurrency exchange, successfully concluded its 12th Anniversary Global Celebration in Dubai. The two-day series of events gathered investors, blockchain entrepreneurs, and industry leaders from around the world, injecting fresh energy and ideas into the Web3 space. The celebration was made possible with strong support from key partner Huawei, underscoring a pivotal moment in Gate.io’s brand evolution.

Charting the Path to “The Next-Generation Crypto Exchange”

At the main event, Gate.io Founder and CEO Dr. Han delivered a keynote speech, reflecting on the platform’s twelve-year growth journey and key achievements. He also presented the strategic vision for Gate.io, outlining a comprehensive upgrade in both technological capabilities and ecosystem roles for the future of the exchange.

Dr. Han noted that the past twelve years have been marked by a technology-driven, user-first, and long-term vision approach. Standing at a new starting point, Gate.io will continue to strengthen Web3 infrastructure and drive the broader global adoption of crypto. He emphasized, “We are advancing toward the ‘next-generation crypto exchange’. It is a transformation that not only signifies a leap in technology but also a comprehensive evolution in capability.”

Dr. Han further stated that a truly long-term leading exchange must possess five core capabilities: serving billions of users, supporting millions of tokens, executing trillions in trading, providing custody for trillions in funds, and adhering to compliance and regulations. “This is not just a vision of Gate.io. It is the path we are actively building.”

A Convergence of Ideas: Resonating with Web3’s Future Value

More than a celebration, the event served as a high-level forum for dialogue and reflection. During the Fireside Chat, Gate.io CBO Kevin Lee talked to IBC Group Founder and CEO Mario Nawfal for an in-depth discussion on the topic “Crypto Influence in 2025: Still a Net Positive?” In addition, Kevin joined Gate.io CGEO Laura to moderate two dedicated panel discussions, centered on “The drives of the Next Bull Run” and “The Real Value of Web3 Projects”, sparking widespread engagement and lively debate among attendees.

Cross-Industry Synergy: Creating New Web3 Social Experiences

Serving as a prelude, the SPORT3 DUBAI 2025 sports carnival took place on April 29. Featuring a range of athletic competitions including football, badminton, and padel, the event built a vibrant bridge between technology and sports, platforms and users, as well as industry partners. The atmosphere on-site was electric. Gate.io CBO Kevin Lee personally joined the football and padel matches, exemplifying team spirit and competitive drive, while Founder and CEO Dr. Han attended the event, bringing the carnival to an exciting climax.

The success of Gate.io 12th Anniversary Global Celebration reinforced the platform’s pioneering influence in the crypto space and delivered a bold message about the spirit and vision of Web3 connectivity, showcasing its strategic transformation toward becoming the “next-generation crypto exchange”. As Gate.io embarks on its next twelve-year journey, it will continue working hand in hand with global users and partners to usher in a more advanced, collaborative era in the digital asset industry.

Disclaimer:

This content does not constitute an offer, solicitation, or recommendation. You should always seek independent professional advice before making investment decisions. Gate.io may restrict or prohibit certain services in specific jurisdictions. For more details, please read the applicable user agreement.

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Bitcoin Price Correlation with M2 Money Supply Signals a Bullish Q2 

The global M2 money supply has surged to an all-time high of $108.4 trillion, raising fresh questions about Bitcoin’s next move. 

The milestone comes amid escalating economic uncertainty following former President Donald Trump’s new “Liberation Day” tariffs and China’s swift retaliatory measures, which together have roiled global markets.

What is M2 and Why Does It Matter for Bitcoin?

Despite the extreme volatility over the past two weeks, Bitcoin’s average value has remained almost unchanged. 

Analysts claim that Bitcoin’s latest volatility reflects macroeconomic fears and fluctuating long/short ratios – but the largest cryptocurrency is nowhere near a bear market. 

This is largely due to the historical correlation between rising M2 levels and significant Bitcoin rallies.

M2 is a broad measure of a country or region’s money supply. It includes physical cash, checking and savings deposits, and other liquid assets that can be quickly converted to cash. 

Bitcoin and M2 Money Supply Chart
Bitcoin and M2 Money Supply Chart In the Past Year. Source: BGeometrics

When M2 increases, it typically signals greater liquidity in the financial system. It simply means more money that often seeks returns in riskier assets such as equities, real estate, or cryptocurrencies like Bitcoin.

Past surges in the M2 money supply have preceded major Bitcoin rallies. Following the COVID-era stimulus programs in 2020-2021, the US M2 supply jumped by over 25%. 

This correlated with Bitcoin’s rise from under $10,000 in mid-2020 to an all-time high of over $69,000 by November 2021. Analysts point to a similar pattern today, albeit with a lag.

“Market proponents say that Trump’s tariffs are primarily a negotiation strategy, and their effect on businesses and consumers will remain manageable. Adding to the uncertainty are the inflationary pressures that could challenge the US Federal Reserve’s rate-cutting outlook. Also, resolving the debt ceiling remains a pressing issue, as the Treasury currently relies upon ‘extraordinary measures’ to meet US financial obligations. The exact timeline for when these measures will be exhausted is unclear, but analysts anticipate they may run out after the first quarter,” said Maksym Sakharov, Co-Founder of WeFi Deobank.

Also, Bitcoin’s price often trails global M2 growth by roughly two months. 

With M2 accelerating since late February and the current spike taking it to its highest level ever, market watchers suggest that Bitcoin could see a delayed but strong upside if liquidity continues to expand.

However, macroeconomic headwinds could temper near-term gains. Trump’s tariff shock and China’s tit-for-tat response have already triggered the steepest Wall Street losses in five years. 

Investors may delay allocating capital to high-volatility assets until trade tensions stabilize.

Still, with M2 surging and Bitcoin supply capped, the setup for a renewed bullish move remains in place. That is if historical patterns hold and markets regain confidence.

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