Ongoing issues with security and scaling continue to put pressure on major blockchain networks. The $13 million exploit of Abracadabra and Ethereum’s difficulty breaking past $2,070 both underline how current systems face limits. As Ethereum attempts to hold its ground and DeFi platforms rush to fix vulnerabilities, BlockDAG is offering something else entirely—a focus on technology that prioritizes performance.
Its new Beta Testnet, “Primordial,” is built on a combination of Proof-of-Work and DAG (Directed Acyclic Graph) technology. This setup supports fast, scalable block processing with high throughput. While other platforms face network slowdowns and exposure to risk, BlockDAG is sticking to the core idea: building a blockchain that works, and works well.
Abracadabra Exploit Drains $13M Through Arbitrum Pools
DeFi just saw another major security hit. Abracadabra/Spell’s cauldrons—linked to GMX V2’s GM pools—were exploited for $13 million. The alert came from Cyvers, who flagged a series of suspicious transactions on Arbitrum. In total, 6,260 ETH were stolen and then quickly moved to Ethereum, split across three wallet addresses.
GMX, the decentralized exchange tied to the incident, confirmed that its own contracts were not affected. They pointed to the exploit being tied directly to Abracadabra/Spell’s cauldrons, which users leverage to borrow against GM liquidity tokens. Both GMX’s developers and contributors from Spell, along with outside security analysts, are now working to identify how it happened.
For context, Abracadabra.money lets users mint its USD-pegged stablecoin, Magic Internet Money (MIM). The SPELL governance token, built on Ethereum, has over 83 billion tokens currently in circulation.
Ethereum Faces Resistance at $2,070 as Bulls Look for a Breakout
Ethereum’s price is in a holding pattern right now, moving sideways while trying to build strength to push through the $2,070 resistance. This phase of consolidation is happening alongside a short-term upward trend line, giving bulls some hope for a future push higher.
Supporting that view, Ethereum is trading above its 50-candle Simple Moving Average (SMA)—a level often seen as a sign of long-term strength. Add to that a recent signal from the Stochastic oscillator indicating oversold conditions, and it’s clear that selling pressure could be losing steam. If buyers return in force, Ethereum might just make a move past that stubborn resistance.
BlockDAG Combines DAG & PoW to Build a Scalable Blockchain System
The Beta Testnet “Primordial” is a big step forward for BlockDAG. It reimagines how Proof-of-Work chains can scale—without giving up on decentralization or security. By using DAG architecture in combination with a PoW-based GHOSTDAG consensus model, BlockDAG can process blocks in parallel and reach quick finality. It’s a major upgrade for networks that need speed and reliability.
Instead of processing one block at a time like traditional PoW chains, BlockDAG’s setup confirms multiple blocks together. The result? Over 2,000 transactions per second and fair block ordering through GHOSTDAG. It’s not just about speed—this is smart design. Developers benefit from full EVM compatibility, making it easy to launch smart contracts, while miners and node operators get simple onboarding, clear documentation, and real rewards.
The project’s presale numbers show it’s striking a chord. BlockDAG has raised $210.5 million so far. It’s now in batch 27, priced at $0.0248 per BDAG. More than 19 billion coins have been sold, and early buyers have already seen returns of 2,380% since batch 1.
But this testnet is more than just tech. It’s a real-world trial, a developer sandbox, and a way to get the community involved. With strong incentives, BDAG token rewards, and over 110,000 participants already tied into the vesting contract, BlockDAG is showing what a new version of Proof-of-Work can actually do—without discarding what made it secure to begin with.
Why Network Design Is Now the Key Factor in Blockchain Growth
What happened with Abracadabra and Ethereum’s current price action are reminders of something critical: design matters. A blockchain’s long-term value depends not just on ambition but on architecture that can grow and adapt. As demand increases, systems built on outdated structures are going to feel the pressure.
BlockDAG offers a new path. Its testnet combines the strength of Proof-of-Work with the efficiency of DAG to meet practical usage needs. With rising presale interest, the ability to process blocks in parallel, and real support for developers, BlockDAG is showing it’s ready to take on real-world challenges. While others are still trying to adjust, BlockDAG is already testing what a scalable blockchain should look like in action.
Presale: https://purchase.blockdag.network
Website: https://blockdag.network
Telegram: https://t.me/blockDAGnetworkOfficial
Discord: https://discord.gg/Q7BxghMVyu
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