Lightning Network Security Crisis Hits as Strike Expands Cryptocurrency Services
Strike, a fintech company backed by Walmart and Ribbit Capital, is expanding its cryptocurrency trading and custody services through its mobile app, OnePay. The integration with Zerohash will allow users to buy and sell cryptocurrencies later this year. OnePay has already gained popularity, ranking number 5 on Apple's free finance app rankings.
Strike CEO Jack Mallers announced that major retailers such as Walmart, McDonald's, Chipotle, Macy's, and Whole Foods will accept payments via the Lightning Network. Strike provides a seamless conversion of fiat to Bitcoin and back to fiat for both merchants and customers. The partnership with Checkout.com enables users in 65 countries to purchase Bitcoin using a debit card.
The company's goal is to make it easier for people outside the U.S. to originate payments between currencies, bypassing traditional banking friction. Strike also allows users in the U.S. to send dollars to markets like Ghana, Nigeria, Kenya, and the Philippines, having raised an $80 million funding round in September 2022 led by Ten31.
The Lightning Network is facing a security crisis due to AI-generated vulnerability reports. Core Lightning developers issued a 14-day lockdown on August 23, 2026, forcing operators to install signed emergency binaries or shut their nodes down immediately. The affected network carries 2,640 BTC across 20,000 channels, a sharp decline from the 5,637 BTC peak in December 2025.