Two South Korean police officers have been indicted for allegedly accepting bribes from operators of illegal crypto exchanges involved in a $186 million voice-phishing laundering operation. Prosecutors claim the officers provided investigative information and facilitated account access in exchange for payments, highlighting serious corruption within law enforcement. Authorities have frozen approximately $1.1 million in assets as part of an ongoing investigation into the network that converted criminal proceeds into USDT through cash-for-crypto shops. This case underscores the challenges of regulatory enforcement in the rapidly evolving crypto landscape.
U.S. spot Solana exchange-traded funds (ETFs) recorded their first outflow of $8.1 million, breaking a 21-day streak of inflows since their launch. The outflow was primarily driven by a $34.37 million redemption from the 21Shares' TSOL fund, which has seen significant volatility in its net assets. Despite the outflows, Solana remains relatively stable, trading around $141, reflecting a 3.6% increase over the past 24 hours. However, the overall sentiment in the market remains cautious as investors assess the implications of these ETF movements on future capital flows.
Bitcoin is currently trading around $91,389, showing a recovery from recent lows. This price action comes ahead of a significant options expiry event, with over $16 billion in Bitcoin and Ethereum options set to expire, which could influence short-term price movements. Traders are closely monitoring the maximum pain point at $100,000, indicating a bullish sentiment despite recent market turbulence. The upcoming expiry could lead to increased volatility as positions are adjusted ahead of the event.
Market sentiment remains cautious, with Bitcoin's recent bounce above $90,000 not yet solidifying a robust recovery. Analysts suggest that without increased volume and demand, the market may remain in a low-conviction consolidation phase. As traders await clearer signals from the options expiry and macroeconomic developments, the focus will be on whether Bitcoin can reclaim key resistance levels. The current market dynamics indicate a fragile state, with liquidity concerns persisting as traders navigate potential risks.
Vitalik Buterin has outlined a roadmap for Ethereum that includes a significant 5x increase in the gas limit, potentially enhancing transaction efficiency and reducing costs. This upgrade aims to position Ethereum more competitively against Solana, which has been known for its lower transaction fees. If implemented, this change could attract more developers and users to the Ethereum ecosystem, fostering greater adoption and usage.
The introduction of the BONK memecoin as an Exchange Traded Product (ETP) on Switzerland’s SIX exchange marks a notable expansion for this Solana-based token. This listing brings BONK into one of Europe's largest stock markets, despite the broader trend of declining valuations for memecoins in 2025. The move could enhance BONK's visibility and legitimacy, potentially attracting institutional investors and increasing trading volume.
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Shin-Marunouchi Building in Tokyo.
Ethereum has raised its block gas limit to 60 million, a move aimed at enhancing network capacity ahead of the upcoming Fusaka upgrade. This adjustment is expected to facilitate greater transaction throughput and improve overall network performance. Vitalik Buterin, co-founder of Ethereum, indicated that growth is anticipated to continue into the next year, emphasizing the need for smarter adjustments to avoid new bottlenecks as capacity expands.
A new malicious Chrome extension, named Crypto Copilot, has been identified as a threat to Solana traders, siphoning off 0.05% of every transaction executed through it. The extension, which has been available since June 2024, inserts an additional transfer instruction into Raydium swaps, diverting funds to an attacker-controlled wallet. This incident highlights ongoing security vulnerabilities within the ecosystem, emphasizing the need for enhanced protective measures for users engaging in decentralized finance activities.
Following operational failures during the launch of its native stablecoin USDm, MegaETH has announced plans to refund all pre-deposit funds raised through its bridge. The project faced significant disruptions, including a misconfigured multisig transaction that allowed deposits to exceed $400 million prematurely. This incident underscores the importance of robust operational protocols in managing liquidity and user funds during critical launch phases.
In response to a significant exploit that drained over $128 million from its V2 pools, Balancer has outlined a reimbursement plan for affected liquidity providers. The proposal includes returning approximately $8 million in rescued assets, with a total of $28 million salvaged through various interventions. This incident serves as a reminder of the vulnerabilities present in decentralized finance protocols and the importance of having effective recovery strategies in place.
Ripple's RLUSD stablecoin has achieved a significant milestone, surpassing $1 billion in supply on the Ethereum network. This growth is attributed to an increase in regulated demand for stablecoins, indicating a shift in market dynamics favoring compliant digital assets. The development reflects broader trends in the cryptocurrency market, where regulatory clarity is becoming increasingly important for investor confidence and adoption.
The South African Reserve Bank (SARB) has decided to shelve plans for a retail central bank digital currency (CBDC), stating that there is no urgent need for such a currency at this time. Instead, the bank will focus on upgrading the existing payments system to improve efficiency and accessibility. This decision highlights the SARB's commitment to enhancing the national payments infrastructure rather than pursuing a digital currency for everyday transactions. In a research paper, the SARB indicated that while a consumer-facing CBDC is technically feasible, it is not necessary in the near term.
The bank aims to enhance wholesale digital currency applications and improve cross-border payment efficiency, reflecting a strategic pivot towards infrastructure upgrades that could yield quicker benefits than a broad consumer rollout. The SARB also noted potential risks associated with cryptocurrencies and stablecoins, which could be used to bypass exchange controls, emphasizing the need for careful monitoring of these developments.
Upbit reported about $36 million drained from its Solana hot wallet on Thursday. Local reporting indicates officials link the theft to Lazarus and plan an on-site probe. Dunamu, its operator, has frozen wallets, moved funds offline, and pledged full reimbursement for victims as inquiries continue.
A Chrome extension marketed as a convenient trading tool has been secretly siphoning SOL from users' swaps since last June, injecting hidden fees into every transaction while masquerading as a legitimate Solana trading assistant. The extension, called Crypto Copilot, has been available on the Chrome Web Store since June 2024 and markets itself as a shortcut for executing Solana trades directly from users’ X feeds. Researchers found that the extension appends a second instruction that transfers SOL to the wallet address Bjeida, diverting at least 0.0013 SOL, or 0.05% of each transaction, to an attacker-controlled wallet. The extension remains online at the time of reporting, and Socket has submitted a takedown request to Google.
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