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.
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.
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.
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.
Welcome to the US Morning Crypto News Briefing—your essential rundown of the most important developments in crypto for the day ahead.
Grab a coffee to see what experts have to say about Bitcoin’s (BTC) price outlook. Key investment strategies are driving the next directional bias for the pioneer crypto.
Is a $90,000 Breakout Imminent for Bitcoin?
Crypto markets continue to reel from Trump-infused volatility, which weighs heavily on investor sentiment. Traders and investors are bracing for macroeconomic headwinds that continue to temper modest gains.
However, despite the concerns, analysts are still optimistic, citing key investment or trading strategies. BeInCrypto contacted Blockhead Research Network (BRN) analyst Valentin Fournier, who alluded to the Wyckoff price cycle.
“Our base case remains an accumulation phase, with occasional dips likely before Bitcoin can make a clean break above the $89,000–$90,000 resistance,” Fournier told BeInCrypto.
The Wyckoff Price Cycle, developed by Richard Wyckoff, is a technical analysis framework to identify market trends and trading opportunities. It consists of four phases:
Accumulation: Where smart money buys at low prices, often marked by a “spring” (a false breakdown).
Markup: A bullish phase with rising prices.
Distribution: Where smart money sells at highs, also featuring a “spring” (false breakout).
Markdown: A bearish phase with declining prices.
Fournier added that because Bitcoin dominance continues to rise, this suggests altcoins could continue underperforming in the short term.
He also noted that, in contrast to Bitcoin’s strength, trade tensions have affected traditional markets more.
“This is highlighted by Nvidia’s decline following new export restrictions on chips to China,” he said.
What Does Options Data Say?
If the accumulation phase thesis is true, it aligns with a recent analysis by Deribit’s Tony Stewart, highlighting trader sentiment favoring the upside.
The bullish cohort is buying $90,000 to $100,000 Calls, suggesting bets on a price rise for Bitcoin. However, others are bearish, buying $80,000 Puts and selling $100,000+ Calls, indicating they expect a decline or hedging.
Likewise, funding strategies reveal bullish traders are rolling up positions from $84,000 to $90,000 Calls and selling lower Puts ($75,000) to finance their bets. This indicates confidence in a near-term rally.
Traders analyze these repeating phases’ price action, volume, and market structure. Based on that, they can spot reversals and time entries or exits while understanding institutional behavior.
A group of veteran derivatives and FX traders in the US are launching USDi, a stablecoin designed to adjust its price in line with inflation. Its value will change regularly based on Consumer Price Index (CPI) data and the performance of Treasury Inflation-Protected Securities (TIPS).
Founder Michael Ashton aims to offer an asset that maintains purchasing power by minimizing exposure to inflation risk. However, with intense competition in the stablecoin market, USDi will need strong early traction to carve out its place.
Today, derivatives trader Michael Ashton announced USDi, a stablecoin built to fight inflation.
“The riskless asset doesn’t actually currently exist, and that’s inflation-linked cash. Holding cash is an option on future opportunities, and the cost of that option is inflation. If you create inflation-linked cash, that’s the end of the risk line,” Ashton claimed.
Investors have been using crypto to hedge against inflation for years, but USDi is a novel approach to the problem. Ashton joined two co-founders, an FX veteran, and a technical specialist, to create the firm USDi Partners LLC.
USDi is a stablecoin that is correlated with the dollar but isn’t pegged to it. Instead, it will loosely orbit the dollar, but its value will fluctuate alongside US inflation.
That prospect may seem convoluted, but a simple system defines the stablecoin’s value. Essentially, Ashton claimed that USDi would rise in accordance with regular CPI reports, calculating the total inflation since a predetermined start date.
This date is December 2024, so it’s still quite close to the dollar. Today, for example, USDi’s price is $1.00863.
The novel stablecoin is inspired by the Treasury Inflation-Protected Securities (TIPS), a government bond designed to protect against inflation. Since CPI reports only happen once per month, Ashton will adjust USDi’s price in accordance with more frequent data used by TIPS investors.
To maintain this system, Ashton will manage a fund that acts as the stablecoin’s reserves. USDi Partners will mint and burn tokens according to the daily level of inflation, plus a small transaction fee.
Only accredited investors can partake in the initial launch, but USDi Partners hasn’t announced an official release date.
In short, USDi seems like a unique approach to the crypto economy, but the stablecoin market is full of competition. Ideally, Ashton and his co-founders will be able to get some early traction to get this project off the ground.
If it proves successful, it can help demonstrate the versatility of crypto’s practical applications.
