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$13M in ETH Lost in Hack Targeting GMX and Abracadabra/Spell Contracts

Recently, hackers targeted the decentralized finance (DeFi) platforms GMX and Abracadabra (MIM/Spell) in a security breach, resulting in a significant loss of funds. Blockchain security firm PeckShield reported that the attack hit certain contracts associated with GMX and Abracadabra/Spell, leading to the theft of around 6,260 ETH, worth $13 million. This has raised serious concerns in the DeFi space, with these two platforms being integral parts of the decentralized finance ecosystem. The Nature of the Hack: Affected Contracts and Clarifications The specific targets of the hack were the smart contracts of Abracadabra and Spell. The contracts of Abracadabra that were utilized for this hack were those known for utilizing the 'cauldrons.' Those cauldrons, which leverage GMX V2's GM pools, were identified as the entry point for the breach. However, GMX itself was very clear in saying that it was not […]

Will Izuchukwu March 25, 2025

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Bitcoin Market Cooling Off: Shift Towards Moderate Losses and Profits

Bitcoin (BTC) holder reshuffling in 2025 has seen a notable change in supply across various profit and loss bands, revealed the latest data from Glassnode. Their Relative Supply by Profit and Loss metric shows key adjustments in the positioning of Bitcoin holders. Seems like Glassnode isn't calling for a market capitulation just yet. This all points to an increasingly concentrated Bitcoin supply in the LLC—"Louie, Larry, Chica" middle ground, as far as P&L is concerned—where holders are neither at major losses nor extreme profits. That's perhaps a more stable foundation for a potential Bitcoin bull market. A Shift in Market Sentiment The information points to an increasingly divergent distribution of Bitcoin's supply among the various profit and loss brackets. One of the most pronounced developments in this new affinity for divergence is something we're calling 'Losslandia.' In 2025, this is […]

Will Izuchukwu March 25, 2025

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Smart Money Continues to Profit from BUBB’s Rise, Surpassing DEV to Become the TOP1 Holding Address

In an impressive display of market prowess, the whale investor behind TST TOP1 has once again made a hefty profit, this time raking in a remarkable $417,000 through the trading of BUBB tokens. This successful trade follows on the heels of TST's last big win, when the TST single currency pushed profits to well above $2.21 million. For whatever it's worth, these trades have pushed the leading address from which TST trades above DEV's position as the leading address in terms of total value. For the past week, substantial buying has been going on behind BUBB, and the purported reason is a possible bounce back for BUBB in the not-too-distant future. Smart money has bought BUBB in two main places. Between March 19 and March 24, they accumulated enough of the token to bring their total haul to 30.25 million […]

Will Izuchukwu March 24, 2025

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$AUCTION Faces Major Price Drop as Suspected Dealers Replenish Exchanges, Bounce Finance Locks Up Tokens

There was a big change in the $AUCTION token market over the weekend, as suspected dealers sent 1.66 million AUCTION tokens to exchanges from seven different addresses. This put 25.18% of the total circulating supply of the token on the market, for an estimated value of $65.08 million. As you might guess, the impact on the price of AUCTION wasn't good. It had just about halved from where it was before the weekend when we checked this morning. From the moment these tokens first began trading on the exchanges at 03:18 this morning, the value of AUCTION has plummeted from $56.38 to a mere $27.75—definitely a significant drop. What has everyone worried, though, is that we have seen such a substantial amount of these tokens hitting the market that you can only conclude we are seeing a major sell-off. https://twitter.com/ai_9684xtpa/status/1903660915024925139 […]

Will Izuchukwu March 24, 2025

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Wintermute’s Market Activity on $ORCA Coin Sparks Price Volatility

The fluctuations of the crypto market are well-known, and the $ORCA token is no exception. A well-known market maker, Wintermute, has transferred a large quantity of $ORCA tokens—$9.62 million worth of them—recently. This seems to signal a possible change in market dynamics for this particular asset. The newly-infleeced Wintermute has promised to use these tokens for market-making, if not outright selling. This could obviously have a significant effect on the price of the coin in the near future. Market-Making Moves and Token Transfers According to recent reports, Wintermute has already started depositing part of the $ORCA tokens into big cryptocurrency exchanges like Coinbase, Binance, Kucoin, and Kraken. This transfer is part of a larger, market-making strategy that has been engineered to manage liquidity and allow for the buying and selling of the asset without too much fuss. By adding liquidity […]

Will Izuchukwu March 23, 2025

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$LAYER Token Shows Resilience and Profit Potential Amidst Market Volatility

In the realm of cryptocurrencies, where the market can swing without warning or rapidly in one direction, certain assets have shown themselves to be quite resilient. One such asset is the $LAYER token, which for some time now has been living its own life and going upward in a bull pattern, while the rest of the crypto market has been shaky or going downward. So what is the deal with the $LAYER token? Why has it been the one to show a path upward while other crypto assets show downward paths? Let's take a look. Whale Profits and Strategic Positioning Three weeks ago, a contingent of supreme investors, commonly known as "smart money" or whales, made a strategic move by opening a large position in $LAYER. These top 6 whales accumulated a total of 6 million $LAYER tokens at an […]

Will Izuchukwu March 23, 2025

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Cyber Alert: Surge in Address Poisoning Attacks Targets Crypto Users

AI-powered threat detection system Cyver Alert has seen a substantial uptick in address poisoning attacks since early March 2025. These are new kinds of scams that work by pairing a phishing email with a poisoned address. Once the recipient of the email clicks the link, they're taken to a fake website that looks almost exactly like the real site they were trying to access. The attackers then have the recipient's real address and use it to send the recipient a phishing email warning that their account has been compromised. Since the attacks began, report states that scammers have already managed to get their hands on over $1.2 million in cryptocurrency. Address poisoning exploits the behavior of cryptocurrency users in a deceptive and dangerous way. Attackers use this method to manipulate transaction histories. They seek to make individuals send cryptocurrency to […]

Will Izuchukwu March 21, 2025

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Lido Strengthens Its Position as Dominant Leader in Ethereum Liquid Staking

Lido Finance has further consolidated its standing as the preeminent player in Ethereum liquid staking, now commanding a remarkable 64% of the total value locked (TVL) in the sector. This development, underscored by recent data from IntoTheBlock, emphasizes Lido's ongoing hegemony in the Ethereum staking ecosystem, even in the face of adversity in staking derivatives markets. As Ethereum completes its transition from a proof-of-work to a proof-of-stake (PoS) consensus mechanism, liquid staking has become essential for users who want to lock up their ETH in a staking contract while retaining access to it—in other words, maintain liquidity. Lido's increasing market share reflects both the growing popularity of liquid staking and the trust it has built up among investors. Users can stake their Ethereum tokens, securing the network, while simultaneously having the option to use their staked tokens in other decentralized […]

Will Izuchukwu March 21, 2025

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BSC Ecosystem Gains Momentum: Transactions, Cross-Chain Bridges, and Token Launches Lead the Way

In the past few weeks, the BNB Chain, especially the Binance Smart Chain, has been growing and performing remarkably well, securing its status as one of the premier blockchain ecosystems. Key metrics show that the BSC is leaving its competitors in the dust, including Ethereum, across a number of critical fronts—decentralized exchange transactions, cross-chain bridge activity, and token launches—wherein we’re seeing ever-wetter adoption and ever-growing popularity of BSC, which is certainly snagging more users and more projects. BSC's Dominance in Daily Transaction Volume and Cross-Chain Bridges By mid-March, BSC's decentralized exchanges (DEXs) were outpacing those on Ethereum in daily transaction volume. This achievement made BSC the leader for public chain DEX transactions. Decentralized finance (DeFi) is where things are happening these days, and BSC appears to be offering what people want. DEXes on BSC deliver faster and cheaper transactions compared […]

Will Izuchukwu March 20, 2025

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A Whale Earns $1.46 Million Profit on AAVE Transfer: A Strategic Move in Crypto Markets

A significant shift in the cryptocurrency universe has just taken place at the fins of one famous whale. For two hours now, it has been known that a crypto whale sent 44,700 AAVE tokens—good for around $8.18 million at today's prices—to Binance. What's more, this sends a clear signal that the whale in question is doing very well, indeed, since they made a profit of $1.46 million overall from the buy-sell action of AAVE. The strategy of the whale seems to be a well-timed investment, having bought 43,800 AAVE tokens for a total of $6.6 million between August and November 2024. At that time, the price of AAVE was around $150.4 per token. This purchase proved to be quite fortuitous. The price of AAVE has since risen to $183 per token, and the whale made a nice profit transferring the […]

Will Izuchukwu March 20, 2025

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