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Vercel discloses breach, Ripple highlights DeFi flaws, Hong Kong grants stablecoin licenses, and other Web3 news

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  • Vercel disclosed a security breach linked to a compromised Google Workspace connection via the AI tool Context.ai, potentially exposing customer API keys, prompting crypto projects to rotate credentials and review their code, though no sensitive environment variables were accessed. (📰CoinDesk)
  • Ripple’s CTO highlighted security flaws in DeFi bridging systems following the KelpDAO exploit, which caused a crash in AAVE and revealed that many projects neglect critical security features for convenience, while XRP remains stable amid broader market downturns. (📰Intellectia AI)
  • Hong Kong has granted its first two licenses for stablecoin issuers and is advancing regulations for crypto dealers and custodians, with local officials expressing ambitions to enhance the city’s global influence in the digital asset industry. (📰South China Morning Post)
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