Bitcoin just shed 4% from $109K and the market collectively yawned. Fear and Greed Index at 56 – no panic, just profit-taking. But while you were watching red candles, something wild happened: North Korea’s elite Lazarus hackers got completely owned by BitMEX’s security team after one rookie VPN mistake. One careless slip exposed their entire billion-dollar cybercrime operation. This is why crypto never sleeps. Anyway, here is a quick rundown of the top headlines from the past 24 hours:
- Arthur Hayes just set a $250,000 Bitcoin target for 2025, claiming Trump’s economic strategy is about to take a sharp turn. What sharp turn is he talking about?
- Gold is up 27% this year while Bitcoin sits at just 12% gains, with Coinshare analyst saying gold won this battle. But why are analysts claiming Bitcoin is winning when gold is clearly outpacing it?
- BitMEX’s security team hacked the Lazarus Group and exposed their operations after one hacker forgot to use their VPN. How did BitMEX manage to access North Korea’s top cybercrime unit?
- Ethereum’s Pectra upgrade introduced new wallet functionality that backfired, with over 80% of new delegations going to malicious contracts. How did it exactly happen?
- The SEC shot down REX Shares and Osprey Funds’ proposals for Ethereum and Solana staking ETFs in a late Friday letter. So no chances of staking ETF proposals to get approved?
Let’s dive in after the market overview!
Hayes Predicts Bitcoin Will Hit Quarter Million This Year
Arthur Hayes just set a $250,000 Bitcoin target for 2025. The BitMEX founder thinks Trump’s economic strategy is about to take a sharp turn that could send crypto soaring. What sharp turn is he talking about? Read the full story!
Bitcoin Winning the Money Game
Gold is up 27% this year while Bitcoin sits at just 12% gains. Bitcoin hit $112K earlier this month but has since dropped over 6% from that peak. Gold keeps climbing near its record highs. Coinshare analysts said gold won this battle, but Bitcoin is still winning the war. Why are analysts claiming Bitcoin is winning when gold is clearly outpacing it? Read the full story!
BitMEX Infiltrates North Korean Hacker Network
BitMEX’s security team hacked the Lazarus Group and exposed their operations. North Korea’s cybercrime network got exposed when one hacker forgot to use their VPN and revealed their real location in China. The researchers gained access to the group’s internal database and uncovered their entire organizational structure. How did BitMEX manage to access North Korea’s top cybercrime unit? Read the full story!
Ethereum Upgrade Backfires
Ethereum’s Pectra upgrade introduced new wallet functionality that was supposed to improve user experience. Instead, over 80% of the new delegations went to malicious contracts designed to drain compromised wallets. One victim already lost $150,000 through an attack using this new feature. But how did it exactly happen? Read the full story!
SEC Blocks First Staking ETF Proposals
REX Shares and Osprey Funds filed for Ethereum and Solana ETFs that would stake assets for additional yield. The SEC shot down the proposal in a late Friday letter, saying the funds might not even qualify as proper ETFs under current law. So no chances of staking ETF proposals to get approved? Read the full story!
Other news today (Monday, 03/06/2025):
- Regulatory Developments: Several countries are exploring or implementing new regulations around cryptocurrencies to enhance security and prevent fraud. Some nations are embracing crypto-friendly policies, while others are tightening restrictions.
- Mainstream Adoption: More companies are accepting cryptocurrencies for payments, and big financial institutions are increasing their involvement in blockchain technology.
- NFT & DeFi Growth: The NFT (Non-Fungible Token) and DeFi (Decentralized Finance) sectors continue to innovate, with new platforms and use cases emerging frequently.
- Market Trends: The crypto market has experienced volatility, with some coins reaching new highs and others correcting. Bitcoin and Ethereum remain dominant, but altcoins are also gaining attention.
- Technological Advances: Improvements in blockchain scalability, security, and interoperability are ongoing, aiming to make crypto transactions faster and cheaper.
- Would you like updates on specific cryptocurrencies, insights into investing, or something else related to crypto?
