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Makina Finance hit by $5M flash-loan exploit on January 20, 2026
On January 20, 2026, Makina Finance suffered a flash-loan exploit that drained about $5 million from its DUSD/USDC Curve pool through oracle manipulation. According to CertiK and TenArmor, the attacker borrowed 280 million USDC at 03:40 UTC, used 170 million USDC to skew the oracle, then traded 110 million USDC and later moved 1,299 ETH. Makina said only DUSD LP positions on Curve were affected and urged withdrawals.
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USDC-0.01%
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Pendle Unveils sPENDLE Token Upgrade with 2025 TVL Peaking at $13.4B and New Boros Integration
On January 20th, 2026 in Singapore, Pendle announced a major upgrade to its native token with the introduction of sPENDLE, designed to deepen liquidity, streamline governance, and refine its revenue model. In 2025 the protocol reported an average TVL of about $5.7B, a peak TVL near $13.4B, and roughly $44.6M in total fees, alongside growing activity from the Boros onchain funding rate venue. The new token mechanics include buybacks funded by protocol revenue, a 14-day withdrawal period or instant redemption fee, and an algorithmic emission system that reduces PENDLE emissions while enhancing allocation efficiency.
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Hong Kong Securities Group Opposes Ending 10% Crypto Exemption for Type 9 Managers
In a Tuesday submission, the Hong Kong Securities and Futures Professionals Association urged regulators to retain the de minimis exemption that lets Type 9 asset managers allocate under 10% of a fund's gross assets to virtual assets without a separate licence. The group warned that abolishing this threshold and mandating SFC-licensed custodians could raise costs, constrain private equity and venture funds, and discourage traditional managers from experimenting with limited crypto exposure.
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