Leading DEX aggregator 1inch has introduced a new DeFi feature: trustless cross-chain swaps between Solana and over 12 EVM networks, without relying on bridges or third-party messaging protocols.

Available across the 1inch dApp, wallet, and Fusion+ API, users can now move assets directly between Solana and all major EVM networks in a fully decentralized, secure, and seamless way with full MEV protection.

Bridgeless Solana cross-chain swaps

Until now, cross-chain interaction between Solana and EVM networks has typically required bridges or third-party messaging protocols such as Wormhole, Axelar, LayerZero, or Chainlink CCIP. While widely used, these systems have proven to be vulnerable, with bridge hacks one of the most damaging security risks in DeFi.

In February 2022, the Wormhole bridge, which connects Solana and Ethereum, was hacked, resulting in a loss of over $320 million. Attackers exploited a vulnerability in Wormhole’s signature verification process, enabling them to mint $120,000 worth of wrapped ETH on Solana without the required collateral on Ethereum. This drained funds from the protocol and exposed the risks inherent in traditional bridge-based cross-chain solutions.

1inch’s bridgeless Solana cross-chain swaps rewrite this model entirely. When the resolver accepts a price, an escrow is created on the source chain, securely locking the user’s funds. The resolver then creates a matching escrow on the destination chain, locking their own funds. 1inch co-founder Sergej Kunz told CryptoSlate:

“There is no bridge risk, because the funds remain in their respective chain-specific escrows, not in a shared pool, and no one can move them without the user’s secret. After a security check, the user shares this secret with the resolver to authorize withdrawal. If the secret is never shared, both escrows are canceled and funds are returned to their original owners.”

Under the hood: Fusion+ cross-chain

The technical foundation for this feature builds on 1inch Fusion+, the firm’s Dutch Auction settlement model. But as Kunz explained, getting it to work with Solana required rethinking the architecture:

“The biggest technical challenge was adapting our Fusion+ architecture, originally designed for EVM-to-EVM swaps, to work natively with Solana. Instead of relying on third-party messaging protocols or bridges, we combined 1inch’s Dutch Auction model with cryptographically linked, chain-specific escrow contracts and programs. This allows resolvers to settle cross-chain orders atomically and trustlessly, bypassing the traditional two-step bridge model and eliminating shared-pool risks.”

The process works as follows: A user signs a cross-chain swap order on the source chain. A resolver locks matching liquidity on the destination chain while the user’s funds are held in escrow on the source chain.

Only when a cryptographic secret is revealed can both escrows unlock atomically, ensuring no party can run off with funds. As Kunz explained, if the process fails, both escrows are cancelled and funds are returned.

Beyond eliminating bridge risk, Fusion+ cross-chain swaps help reduce fragmentation by allowing assets to stay in their native ecosystem while still being instantly swappable across chains. Kunz pointed out:

“Instead of splitting liquidity into bridge pools, resolvers use their own inventory to fulfill orders on the destination chain. This means Solana and EVM liquidity can serve each other without requiring re-wrapped tokens, creating more efficient markets and deeper effective liquidity across ecosystems.”

For Solana, this addresses one of its biggest historical hurdles: isolation from DeFi innovation and capital flows in EVM chains. Solana-native tokens can now be traded directly against Ethereum, Polygon, Arbitrum, and others, without intermediaries, bringing new users, capital, and dApps to Solana while making the network a hub for traders, builders, and liquidity providers.

What’s next for 1inch

While today’s release covers Solana<>EVM swaps, the team has further ambitions. Kunz told CryptoSlate:

“We’re open to integrating more non-EVM networks in the future. At our recent hackathon, teams demoed implementations for Bitcoin, Sui, Aptos, and others. That showed us the strong demand for a broader multichain future where every asset can talk to every other without bridge risk.”

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Cathie Wood’s Ark Invest has shifted its crypto-focused investment strategy, reducing its holdings in Coinbase, Robinhood, and Block in favor of BitMine Immersion, an Ethereum-focused treasury firm.

According to Ark’s July 21 trading disclosures, the firm added 4.4 million BitMine Immersion (BMNR) shares to three of its actively managed exchange-traded funds (ETFs). This marks a notable strategic pivot as institutional interest in Ethereum treasury strategies continues to rise.

The breakdown of the purchase shows Ark Innovation ETF (ARKK) acquiring 2,937,432 BMNR shares, Ark Next Generation Internet ETF (ARKW) taking 927,898 shares, and Ark Fintech Innovation ETF (ARKF) adding 555,704 shares.

Though the exact acquisition value wasn’t disclosed, BMNR closed at $39.57 on July 21, per Google Finance data. Based on that price, Ark’s total investment likely approaches $175 million.

BitMine Immersion has emerged as a major player in Ethereum treasuries. Data from Strategic ETH Reserve ranks the firm as the largest Ethereum holder, with more than 300,000 ETH.

It currently outpaces other major holders, such as SharpLink and the Ethereum Foundation, which hold over 280,000 and roughly 234,000 ETH, respectively.

Ark trims positions in Coinbase, Robinhood, and Block

In tandem with its BitMine acquisition, Ark Invest has reduced exposure to three prominent crypto-linked stocks.

The firm sold 218,986 shares of Coinbase for roughly $90.6 million, 109,824 shares of Robinhood for $11.46 million, and 90,061 shares of Block for about $7 million. These sales spanned across ARKK, ARKW, and ARKF.

The portfolio adjustment aligns with Ark’s strategy of taking profits on outperforming assets and reallocating capital toward emerging opportunities.

Coinbase’s stock has rallied in recent weeks, briefly surpassing a $100 billion market cap. This rally was fueled by excitement about improved regulatory progress after the US Congress passed key crypto bills like the CLARITY Act and the GENIUS Act.

Meanwhile, Robinhood shares also surged, gaining over 16% during the past week thanks to optimism around its tokenized equities and new crypto offerings in Europe.

Additionally, Jack Dorsey’s Block gained investor attention after being added to the S&P 500 index, making it the second crypto-centered company after Coinbase to achieve the distinction.

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The thief behind the massive Coinbase exploit earlier this month has begun swapping their stolen crypto.

On Wednesday, pseudonymous on-chain investigator ZachXBT noted on Telegram that the exploiter had swapped $42.5+ million worth of Bitcoin (BTC) into Ethereum (ETH) via the decentralized liquidity protocol THORChain (RUNE).

ZachXBT also notes that the thief trolled him with an on-chain message that said “L bozo” and linked to a YouTube video of former NBA star James Worthy smoking a cigar.

The exploiter later swapped 8,697 ETH for 22 million of the stablecoin Dai (DAI), according to the blockchain security firm PeckShield.

PeckShield also notes that a different address that is “highly relevant to the threat actor” received 9,081 ETH from THORChain, then swapped that ETH for 23 million DAI.

That relevant address later received another 8,569 ETH (worth approximately $22.4 million) from THORChain.

Coinbase says criminals bribed a small group of overseas customer support agents to copy the data of less than 1% of the firm’s monthly transacting users. A recent filing with the Maine Attorney General’s Office indicates the breach impacted 69,461 people.

The exchange notes that hacked information includes names, addresses, phone numbers, email addresses, masked social security numbers (the last 4 digits only), masked bank-account numbers, some bank account identifiers, government-ID images, account data and limited corporate data.

Coinbase learned about the hack after receiving an email earlier this month demanding a $20 million BTC payoff in exchange for not releasing the illegally obtained info. The company refused to give in to the hackers’ demand and estimates it will pay $180 million to $400 million in remediation costs and voluntary customer reimbursements.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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