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Slow Mist issued a security warning stating that Aurellion was attacked, resulting in a loss of approximately 455,003 USDC (about $455,000). Analysis indicates that the root of the vulnerability may lie in the lack of effective protection in the initialize(address) function of the SafeOwnable Facet. The Diamond contract failed to update the _initialized version slot correctly because it did not go through the initialize path when setting the owner, allowing the attacker to reinitialize the contract and override owner permissions. Slow Mist reported that the attacker has seized ownership of the Diamond contract and transferred USDC from multiple authorized addresses.

[Slow Mist: Aurellion Attacked Due to Initialization Vulnerability, Approximately $455,000 USDC Stolen]Slow Mist issued a security warning stating that Aurellion was attacked, resulting in a loss of approximately 455,003 USDC (about $455,000). Analysis indicates that the root of the vulnerability may lie in the lack of effective protection in the initialize(address) function of the SafeOwnable Facet. The Diamond contract failed to update the _initialized version slot correctly because it did not go through the initialize path when setting the owner, allowing the attacker to reinitialize the contract and override owner permissions. Slow Mist reported that the attacker has seized ownership of the Diamond contract and transferred USDC from multiple authorized addresses.

Slow Mist: Aurellion Attacked Due to Initialization Vulnerability, Approximately $455,000 USDC Stolen

According to monitoring by Dongcha Beating, NVIDIA and the MIT research team have released a new post-training framework for large language models called Lightning OPD (Offline Policy Distillation). This technology enhances training efficiency by 4 times by pre-computing the log-probabilities of the teacher model offline, eliminating the need for real-time teacher services that must remain online throughout traditional distillation training. Previously, standard Online Policy Distillation (OPD) required both student and teacher models to run simultaneously on a single machine, which often led to out-of-memory (OOM) errors as models grew larger. Lightning OPD frees up all GPU resources for the student model. In tests using 8 H100 GPUs on a single node, Lightning OPD successfully distilled the Qwen3-30B-A3B-Base (a large MoE model with a total of 30 billion parameters), achieving a score of 71.0 in the AIME 2024 test; in contrast, standard OPD encountered OOM errors under the same hardware configuration. For the smaller Qwen3-8B model, this framework achieved a score of 69.9 in just 30 GPU hours. The research team pointed out a hidden prerequisite for achieving offline distillation in their paper: 'teacher consistency.' The student model must use the same teacher model during supervised fine-tuning (SFT) and subsequent distillation phases. Failing to adhere to this principle can lead to biased gradient directions, ultimately degrading the model's performance.

[MIT and NVIDIA Launch Lightning OPD: A 4x Faster Offline Distillation Framework]According to monitoring by Dongcha Beating, NVIDIA and the MIT research team have released a new post-training framework for large language models called Lightning OPD (Offline Policy Distillation). This technology enhances training efficiency by 4 times by pre-computing the log-probabilities of the teacher model offline, eliminating the need for real-time teacher services that must remain online throughout traditional distillation training. Previously, standard Online Policy Distillation (OPD) required both student and teacher models to run simultaneously on a single machine, which often led to out-of-memory (OOM) errors as models grew larger. Lightning OPD frees up all GPU resources for the student model. In tests using 8 H100 GPUs on a single node, Lightning OPD successfully distilled the Qwen3-30B-A3B-Base (a large MoE model with a total of 30 billion parameters), achieving a score of 71.0 in the AIME 2024 test; in contrast, standard OPD encountered OOM errors under the same hardware configuration. For the smaller Qwen3-8B model, this framework achieved a score of 69.9 in just 30 GPU hours. The research team pointed out a hidden prerequisite for achieving offline distillation in their paper: 'teacher consistency.' The student model must use the same teacher model during supervised fine-tuning (SFT) and subsequent distillation phases. Failing to adhere to this principle can lead to biased gradient directions, ultimately degrading the model's performance.

MIT and NVIDIA Launch Lightning OPD: A 4x Faster Offline Distillation Framework

On May 12, Bakkt released its Q1 2026 financial report, showing a net loss attributable to the company of $11.7 million, or a loss of $0.41 per share; compared to a net profit of $7.7 million in the same period last year. The decline in crypto trading volume impacted Bakkt's crypto services revenue, which fell from $1.07 billion in the same quarter last year to $243.6 million, a 77% year-on-year decrease, although most of this was offset by crypto costs and brokerage fees. At the end of the first quarter, the company held $82.6 million in cash and had no long-term debt. Bakkt stated that it is transitioning from crypto trading infrastructure to stablecoin payments and AI financial infrastructure, having completed the acquisition of Distributed Technologies Research on April 30, gaining an AI-native payment engine and a stablecoin compliance technology stack.

[Bakkt Q1 Crypto Revenue Falls 77% Year-on-Year, Shifts Focus to Stablecoin Infrastructure]On May 12, Bakkt released its Q1 2026 financial report, showing a net loss attributable to the company of $11.7 million, or a loss of $0.41 per share; compared to a net profit of $7.7 million in the same period last year. The decline in crypto trading volume impacted Bakkt's crypto services revenue, which fell from $1.07 billion in the same quarter last year to $243.6 million, a 77% year-on-year decrease, although most of this was offset by crypto costs and brokerage fees. At the end of the first quarter, the company held $82.6 million in cash and had no long-term debt. Bakkt stated that it is transitioning from crypto trading infrastructure to stablecoin payments and AI financial infrastructure, having completed the acquisition of Distributed Technologies Research on April 30, gaining an AI-native payment engine and a stablecoin compliance technology stack.

Bakkt Q1 Crypto Revenue Falls 77% Year-on-Year, Shifts Focus to Stablecoin Infrastructure

On May 12, SlowMist released a security monitoring report indicating that the decentralized shipping project Aurellion was attacked. The attacker seized ownership of the Diamond contract and transferred a total of 455,003 USDC from multiple authorized victim addresses.

[SlowMist: Aurellion Attacked, 455,000 USDC Lost]On May 12, SlowMist released a security monitoring report indicating that the decentralized shipping project Aurellion was attacked. The attacker seized ownership of the Diamond contract and transferred a total of 455,003 USDC from multiple authorized victim addresses.

SlowMist: Aurellion Attacked, 455,000 USDC Lost

On May 12, market sources reported that eBay has rejected GameStop's acquisition offer of approximately $56 billion, citing the reasons as "neither credible nor attractive." Previously, on May 4, GameStop had proactively proposed to acquire the American online marketplace eBay for about $56 billion. GameStop's CEO Cohen stated that the company holds about 5% of eBay's shares and proposed to acquire it for $125 per share in cash and stock. If eBay does not accept this proposal, Cohen is prepared to initiate a proxy battle and present the proposal directly to shareholders.

[eBay Rejects GameStop's $56 Billion Acquisition Offer]On May 12, market sources reported that eBay has rejected GameStop's acquisition offer of approximately $56 billion, citing the reasons as "neither credible nor attractive." Previously, on May 4, GameStop had proactively proposed to acquire the American online marketplace eBay for about $56 billion. GameStop's CEO Cohen stated that the company holds about 5% of eBay's shares and proposed to acquire it for $125 per share in cash and stock. If eBay does not accept this proposal, Cohen is prepared to initiate a proxy battle and present the proposal directly to shareholders.

eBay Rejects GameStop's $56 Billion Acquisition Offer

On May 12, Gelephu Mindfulness City in Bhutan launched an expedited licensing pathway for globally regulated cryptocurrency companies, providing eligible firms with comprehensive regulatory and banking services, 0% corporate income tax, and zero capital gains tax.

[Gelephu Mindfulness City in Bhutan Offers Tax Exemptions for Eligible Cryptocurrency Companies]On May 12, Gelephu Mindfulness City in Bhutan launched an expedited licensing pathway for globally regulated cryptocurrency companies, providing eligible firms with comprehensive regulatory and banking services, 0% corporate income tax, and zero capital gains tax.

Gelephu Mindfulness City in Bhutan Offers Tax Exemptions for Eligible Cryptocurrency Companies

According to monitoring by Dongcha Beating, Codex's /goal mode allows the Agent to loop continuously until the task is completed, but this amplifies the flaws in vague human prompts. OpenAI engineer Chris Hayduk pointed out from internal practical experience that vague instructions like 'optimize code' can cause the model to give up too early due to not knowing what the endpoint is, or to fall into a blind modification loop. To ensure the Agent can work steadily for days or even longer, he summarized three disciplines: - Eliminate qualitative terms and replace them with checklists: The model cannot assess what is 'better,' but it can understand 'reduce time by 20% without failing tests.' When faced with qualitative tasks like formatting papers, he even directly provided Codex with a Markdown checklist containing 200 formatting requirements, brutally transforming abstract tasks into quantitative ones—'completing all checkboxes means completion.' - Reduce validation time to minutes: The Agent needs to validate actions through testing. Do not let it run for hours in a large production environment; instead, provide it with a sample dataset and lightweight framework to make the feedback loop as short as possible. - Create three files as an 'external brain': Even with a large context window, it will lose memory after running for a few days. He recommends directly creating three Markdown files locally: PLAN.md (macro plan), EXPERIMENTS.md (record of experiments and outcomes), and EXPERIMENT_NOTES.md (real-time thinking drafts), forcing the model to write the trial-and-error process to the hard drive.

[Why Does Your Agent Stop Working After a Few Minutes? OpenAI Engineer: It Needs a Scoreboard and External Memory]According to monitoring by Dongcha Beating, Codex's /goal mode allows the Agent to loop continuously until the task is completed, but this amplifies the flaws in vague human prompts. OpenAI engineer Chris Hayduk pointed out from internal practical experience that vague instructions like 'optimize code' can cause the model to give up too early due to not knowing what the endpoint is, or to fall into a blind modification loop. To ensure the Agent can work steadily for days or even longer, he summarized three disciplines: - Eliminate qualitative terms and replace them with checklists: The model cannot assess what is 'better,' but it can understand 'reduce time by 20% without failing tests.' When faced with qualitative tasks like formatting papers, he even directly provided Codex with a Markdown checklist containing 200 formatting requirements, brutally transforming abstract tasks into quantitative ones—'completing all checkboxes means completion.' - Reduce validation time to minutes: The Agent needs to validate actions through testing. Do not let it run for hours in a large production environment; instead, provide it with a sample dataset and lightweight framework to make the feedback loop as short as possible. - Create three files as an 'external brain': Even with a large context window, it will lose memory after running for a few days. He recommends directly creating three Markdown files locally: PLAN.md (macro plan), EXPERIMENTS.md (record of experiments and outcomes), and EXPERIMENT_NOTES.md (real-time thinking drafts), forcing the model to write the trial-and-error process to the hard drive.

Why Does Your Agent Stop Working After a Few Minutes? OpenAI Engineer: It Needs a Scoreboard and External Memory

Alex Thorn, Director of Galaxy Research, posted on the X platform stating that the U.S. Senate Banking Committee has released the complete draft of the updated CLARITY Act, which includes significant adjustments in several key chapters, including: 1. A major rewrite of Chapter 1 regarding definitions and the authority of the Securities and Exchange Commission (SEC); 2. The addition of insider trading provisions in Section 109; 3. Updating 'common control' to 'coordinated control' in Chapter 2; 4. A rewrite of Section 301 to further clarify the regulatory boundaries between DeFi and CeFi; 5. Updating Section 404 to incorporate the compromise proposals from Tillis and Alsobrooks; 6. Adjusting Section 505 to narrow the scope of SEC's authority limitations in the tokenization space; 7. Restructuring the bankruptcy and insolvency framework in Sections 701 and 702; 8. The addition of Section 904, titled 'Build Now Act'; 9. The protective provisions for developers in the Blockchain Regulatory Certainty Act in Section 604 remain largely intact, with only minor modifications that do not weaken its core protections.

[Galaxy Research Director: Revised CLARITY Act Draft Adds Insider Trading Provisions and Multiple Adjustments]Alex Thorn, Director of Galaxy Research, posted on the X platform stating that the U.S. Senate Banking Committee has released the complete draft of the updated CLARITY Act, which includes significant adjustments in several key chapters, including: 1. A major rewrite of Chapter 1 regarding definitions and the authority of the Securities and Exchange Commission (SEC); 2. The addition of insider trading provisions in Section 109; 3. Updating 'common control' to 'coordinated control' in Chapter 2; 4. A rewrite of Section 301 to further clarify the regulatory boundaries between DeFi and CeFi; 5. Updating Section 404 to incorporate the compromise proposals from Tillis and Alsobrooks; 6. Adjusting Section 505 to narrow the scope of SEC's authority limitations in the tokenization space; 7. Restructuring the bankruptcy and insolvency framework in Sections 701 and 702; 8. The addition of Section 904, titled 'Build Now Act'; 9. The protective provisions for developers in the Blockchain Regulatory Certainty Act in Section 604 remain largely intact, with only minor modifications that do not weaken its core protections.

Galaxy Research Director: Revised CLARITY Act Draft Adds Insider Trading Provisions and Multiple Adjustments

According to monitoring by Dongcha Beating, Doubao Input Method, a product under ByteDance, has officially released its macOS version. Previously, this product only supported iOS and Android platforms, and the official page indicates that the Windows version is still under development. This version integrates the same voice model as Doubao, supporting accurate dialect recognition, light tone input, and Chinese-English mixed transcription, automatically filtering redundant words in spoken language during transcription. In terms of regular keyboard input, the product features long text error correction capabilities and can provide intelligent suggestions based on the context of previous text.

[Doubao Input Method Officially Launches Mac Version: Features Doubao Voice and Chinese-English Mixed Input]According to monitoring by Dongcha Beating, Doubao Input Method, a product under ByteDance, has officially released its macOS version. Previously, this product only supported iOS and Android platforms, and the official page indicates that the Windows version is still under development. This version integrates the same voice model as Doubao, supporting accurate dialect recognition, light tone input, and Chinese-English mixed transcription, automatically filtering redundant words in spoken language during transcription. In terms of regular keyboard input, the product features long text error correction capabilities and can provide intelligent suggestions based on the context of previous text.

Doubao Input Method Officially Launches Mac Version: Features Doubao Voice and Chinese-English Mixed Input

Web3 Foundation tweeted: "Web3 Foundation announces Polkadot's native token DOT has morphed and is software, not a  security.
After 3 years of proactive engagement with the SEC, W3F announces a landmark step towards the achievement of Web 3.0, a decentralized, trustless, serverless internet."

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【Web3 Foundation announces Polkadot's native token DOT has morphed and is software, not a  security】Web3 Foundation tweeted: "Web3 Foundation announces Polkadot's native token DOT has morphed and is software, not a  security.
After 3 years of proactive engagement with the SEC, W3F announces a landmark step towards the achievement of Web 3.0, a decentralized, trustless, serverless internet."

Web3 Foundation announces Polkadot's native token DOT has morphed and is software, not a  security

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ACA fluctuated over 50% in 24 hours!

Web3 Foundation announces Polkadot's native token DOT has morphed and is software, not a security

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