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Ika Reveals Strategic Investment From Sui Foundation, Bringing Total Funding to Over $21m

Zug, Switzerland, April 28th, 2025, Chainwire Ika , the world’s fastest parallel MPC network, set to launch on the Sui blockchain, reveals a strategic investment from Sui Foundation after recently concluding a record-setting 1.4M SUI NFT art campaign on Sui. Ika is the first sub-second MPC network, enabling zero trust interoperability between blockchains at unprecedented scale, across hundreds of signer nodes with ironclad security. Ika aligns with Sui’s core values of performance, speed, and decentralization. With its upcoming launch on the Sui blockchain, Ika brings its unrivaled MPC technology to empower Sui Move smart contract developers with secure interoperability across all of Web3. This cements Sui’s position as the premier solution for cross-chain DeFi, decentralized custody, Chain Abstraction, AI agent guardrails, native Bitcoin programmability, and more, utilizing the first truly scalable, secure MPC signing solution. Ika: Setting New Benchmarks in MPC Technology Ika leverages the novel 2PC-MPC cryptographic scheme and Sui’s Mysticeti consensus protocol to address critical limitations in existing MPC networks, delivering unprecedented performance: Record-Breaking Throughput: Ika can scale to process transactions up to 10,000 times more than current MPC networks, enabling unprecedented volume . Minimal Latency: While conventional networks can lag 30 seconds or even more, Ika can generate a signature at sub-second speed, enabling real-time applications across chains. Extreme Scalability: Ika transcends the typical 4-8 node limit, with 2PC-MPC that can scale to hundreds and potentially even thousands of signers, bolstering decentralization without compromising performance. Zero-Trust Security: Ika’s architecture ensures user assets remain secure even in worst-case scenarios, setting a new standard in decentralized security. Ika’s Use Cases: A Game-Changer for Web3 Ika’s ultra-fast MPC network powers a wide range of applications on the Sui blockchain, with multiple Sui builders already building their tech utilizing Ika, including: DeFi Interoperability : Ika’s sub-second speed and scalability enable instant and secure operations across all Web3 ecosystems, bringing liquidity from chains like Bitcoin and Ethereum to Sui. Sui builders, Full Sail and Rhei , have announced their upcoming launch utilizing Ika. Decentralized Custody : Ika offers secure, decentralized custody solutions on the Sui blockchain for digital assets, delivering unmatched security for institutional and individual users. Sui builders, Aeon and Human Tech , have announced their upcoming integration of Ika into their tech. Chain Abstraction: Ika allows builders on Sui to abstract the complexity of multiple chains for their users, alongside other Sui features such as zkLogin, delivering a perfect user experience. Sui builders, Covault and Lucky Kat , have announced their upcoming integration of Ika into their tech. Programmable Bitcoin : Ika unlocks new possibilities for native BTC on Sui, with programmable and secure DeFi and custody. Sui builders, Native and Nativerse , have announced their upcoming launch utilizing Ika. AI Agent Guardrails : Ika enhances AI applications on Sui, by providing secure MPC guardrails, ensuring AI agents don’t have full unchecked power, safeguarding users’ assets. Sui builders Atoma and Ekko have announced their upcoming launch utilizing Ika. A Vision Supported by Industry Leaders and Embraced by the Community Sui Foundation’s strategic investment in Ika underscores Sui’s dedication to fostering cutting-edge technologies that advance its mission of high performance and decentralization. This strengthens the technical synergy within the Sui ecosystem, positioning both Sui and Ika at the forefront of the Web3 revolution, advancing a future of secure, scalable, decentralized infrastructure. With over $21 million in funding and a peak private valuation of $600M FDV, Ika is backed by dozens of key players in the Web3 space, including Sui Foundation , DCG , Big Brain Holdings , Blockchange , Node Capital , Amplify Partners , Liquid2 Ventures , FalconX , Tykhe Block Ventures , Lightshift , Token Bay Capital , Collider , Zero Knowledge Ventures , NoLimit Holdings , Rubik Ventures , Dispersion Capital , Insignius Capital , Impatient Ventures , Cerulean Ventures , Earl Grey Capital , HDI Ventures , Flowdesk , TPC Ventures , Purechain Capital , Solr DAO , Heroic Ventures , Naval Ravikant , NotVCs , G-20 Group , Artifact Capital , DSRV , Encapsulate and many more. Ika also demonstrated strong adoption from Sui users launching the “MF Squid Market” NFT art campaign, the largest and most successful NFT campaign in Sui history, receiving over 1.4M SUI, creating a strong and active grassroots community in the process. The IKA token will soon launch natively on the Sui blockchain, unlocking new functionality and utility in decentralized security. As the native token of the Ika MPC network, IKA will play a pivotal role in powering its ultra-fast, scalable infrastructure, serving as the means to pay for MPC signing services, enabling seamless transactions across the Web3 space. By leveraging Sui’s unmatched speed and performance, Ika enhances the overall security and scalability of the ecosystem, adding the most promising MPC technology in blockchain to the fastest-growing L1 in Web3. About Ika Ika is the fastest parallel MPC network, offering sub-second latency, unprecedented scale and decentralization, and zero-trust security. As the premier choice for interoperability, decentralized custody, and chain abstraction, Ika is set to revolutionize digital asset security and multi-chain DeFi. Users can learn more here About Sui Sui is a first-of-its-kind Layer 1 blockchain and smart contract platform designed from the bottom up to make digital asset ownership fast, private, secure, and accessible to everyone. Based on the Move programming language, its object-centric model enables parallel execution, sub-second finality, and rich on-chain assets. With horizontally scalable processing and storage, Sui supports a wide range of applications with unrivaled speed at low cost. Sui is a step-function advancement in blockchain and a platform on which creators and developers can build amazing, user-friendly experiences. Users can learn more at: https://sui.io Contact Ika PR pr@ika.xyz Crypto Potato

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Monero Price Jumps Double Digits Due To Massive $330 Million Bitcoin Theft

Privacy-centric coin Monero (XMR) soared as much as 50% on Monday, and on-chain investigators have pointed to a theft event as the likely culprit. Early on Monday, on-chain sleuth ZachXBT flagged a “suspicious transfer” of 3,520 BTC (worth approximately $330.7 million) made from a potential victim’s wallet. Soon after, the loot was laundered through over six exchanges and converted to Monero to obscure the activity. ZachXBT believes this was theft due to the high fees paid and the suspicious activity after the funds had been moved. The transfer sparked an immediate 50% surge in XMR’s price due to the large-scale conversion and the platform’s limited liquidity. Nine hours ago a suspicious transfer was made from a potential victim for 3520 BTC ($330.7M) Theft address bc1qcrypchnrdx87jnal5e5m849fw460t4gk7vz55g Shortly after the funds began to be laundered via 6+ instant exchanges and was swapped for XMR causing the XMR price to spike… — ZachXBT (@zachxbt) April 28, 2025 The on-chain sleuth later noted in follow-up posts that it is “highly probable” the theft was not orchestrated by the infamous North Korean hackers, and that the victim was a longtime Bitcoin holder . While ordinary blockchains such as Bitcoin and Ethereum allow users to track all transactions on the network, Monero’s privacy-preserving nature hides wallet addresses and transactions, making it harder for law enforcement to trace and recover illicit funds. As such, it remains attractive to nefarious actors who want unlinkable and untraceable transactions. According to data from CoinGecko , XMR vaulted 50% higher in response to hit an intraday high of $347.72 — a level not seen since May 2021. At the time of publication, Monero is priced at $276.22, still up 22% over the last 24 hours. The Monero community recently celebrated the coin’s 11th anniversary. Notably, XMR has lost a lot of ground in recent years due to the increasing marginalization of privacy coins. Due to intensifying regulatory pressure, leading crypto exchanges, including Binance, Coinbase, and Kraken, have been forced to delist Monero in various jurisdictions in an effort to fight dark net markets. Crypto Potato