1. The Resolv protocol was attacked with 80 million USD
The Resolv protocol suffered an attack of 80 million USD due to private key leakage, and the attacker minted unsecured USR. 9 million USR have been destroyed, and the contract has been suspended. The protocol holds 141 million USD in assets and had processed 500,000 USD in redemptions before the suspension. The total supply of USR before the incident was 102 million, of which 71 million were illegal tokens. The target redemption date for USR before the incident is March 23, 2026.
2. The limit on US crypto ETF options has been lifted
The New York Stock Exchange Arca and the New York Stock Exchange American have lifted the limit on 25,000 contracts for Bitcoin and Ethereum ETF options. This covers 11 crypto ETF products, including IBIT, FBTC, and ARKB. FLEX options are now allowed. The position limit now follows a volume-based standard framework, with position caps over 250,000 contracts for ETFs with better liquidity. This helps institutions conduct hedging strategies.
3. Trump issued a 48-hour ultimatum to Iran
Trump issued a 48-hour ultimatum to Iran, demanding the unconditional opening of the Strait of Hormuz and threatening to strike power plants. Iran responded by saying that if attacked, it would completely close the strait and expand the range of attacks to energy and IT infrastructure. The conflict has entered its fourth week, disrupting 20% of global oil and gas transportation.
4. Bithumb suspended 0G trading
Bithumb has suspended all 0G deposit and withdrawal services due to serious network issues. However, internal spot trading is still ongoing. The exchange will prioritize user safety during the technical interruption. The team is closely monitoring the ZeroG network status, and services will resume once stability is confirmed. Historical experience indicates that it usually takes 24 to 48 hours to resolve the issues.
📊 Market dynamics
1. Gold falls below $4,350 Gold prices fell below $4,350, with a market value evaporating by over $1 trillion in 3 hours. The tense situation in the Strait of Hormuz has triggered risk aversion. Influenced by geopolitical concerns, Japan's Nikkei 225 index fell by 3.1%. Trump issued a 48-hour ultimatum to Iran regarding passage rights in the Strait of Hormuz, while Iran threatened to completely close the strait if attacked.
🐋 Whale movements
Machi Big Brother (@machibigbrother-1 ) closed all of its 25x long ETH positions again and soon after opened a new 25x long ETH position. Currently, the wallet balance is only $32,000, with cumulative losses exceeding $30.35 million. Onchain Lens monitoring shows repeated closing patterns on the Hyperliquid platform.
A mysterious whale from the ShapeShift era withdrew 4.35 million USDT from Aave, purchasing 2,103 ETH at an average price of $2,069. Over two weeks, the holdings increased to 2.6437 million dollars, currently holding 122,392 ETH worth 251.3 million dollars.
Whale 0x30d3 opened a 20x long position on $GOLD while closing a short position on $SP500, managing the position using a TWAP order on Hyperliquid.
Machi Big Brother closed a 25x $ETH long position again, reducing wallet balance to $32,000, after accumulating losses exceeding $30.35 million, and then opened a new 25x leveraged position.
