$5M Raised in Hours: BlockDAG Gains Ground as Bitget Innovates & JELLY Faces Fallout

As Bitget rolls out an AI-based onchain feature & JELLY unravels after a $6.2M exploit, BlockDAG stands firm

This week has seen a mix of innovation, risk, and rising momentum in the crypto market. As Bitget rolls out its new Onchain tool designed to blend early token access with user-friendly AI features, and Hyperliquid’s JELLY token is hit with a $6.2 million exploit, highlighting serious concerns about DeFi vulnerabilities, BlockDAG continues to pull ahead.

Already, the project has raised $215 million with over 19.2 billion coins sold and a 2,380% increase from its initial batch price. While meme-driven tokens and experimental tools are still finding their place, BlockDAG is building a fully functional platform—with live mining, a working testnet, and real utility. For long-term holders, it’s starting to look like a smart move.

Bitget’s Onchain Tool Makes Early-Stage Tokens Easier and Safer to Access

Bitget’s latest feature, “Bitget Onchain,” provides users with direct access to new tokens through their CEX accounts—no need for separate wallets or DeFi platforms. Offering support for networks like Solana, BNB Smart Chain, and Base, it already lists 30 emerging tokens, including RFC and KTA.

A standout feature is its AI-powered filtering system, designed to help users avoid risky coins and discover promising assets. Additional tools like automated trading bots, predictive analytics, and risk warnings further improve the user experience.

Compared to most DeFi platforms, Bitget Onchain delivers these early-access opportunities with centralized security protocols. For those who prefer the speed and selection of DeFi but want it packaged with familiar CEX protection, Bitget’s hybrid approach could become a popular option.

JELLY Exploit Highlights the Hidden Risks Behind Meme Coins

A single trader managed to manipulate the JELLY token on Hyperliquid to steal $6.2 million—exploiting a flaw in the platform’s liquidation mechanism.

The trader, who used a single address for all activity, started with a small amount of JELLY and used it to open extremely large long and short positions. This strategy, spanning about two weeks, culminated in a 400% price jump for the token, which ultimately led to the complete liquidation of all short positions and a partial liquidation of long positions.

However, to the surprise of many, the exploiter’s positions were not fully liquidated, allowing them to collect massive gains in the process. In total, the trader managed to siphon off $6.2 million from Hyperliquid’s vault.

Even after Hyperliquid delisted the token and froze all further activity, the exploiter still holds about 10% of JELLY’s total supply—currently valued at nearly $2 million. Five connected wallets are still holding large amounts of the token.

This incident comes at a time when trust in meme tokens is already shaky. It serves as a strong reminder that volatility in DeFi doesn’t just create price swings—it can expose deeper risks in how platforms are built and managed.

News data source: kdj.com

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