Crypto World
Latin America’s crypto user growth outpaced U.S. by 3x in 2025, report shows
Latin America’s crypto market is expanding far faster than that of the United States as users increasingly rely on cryptocurrencies for payments and cross-border transfers rather than speculation. a new report claims.
The region, according to a report from Argentinian crypto firm Lemon, received more than $730 billion in cryptocurrency transaction volume in 2025, a 60% increase from the previous year, representing roughly 10% of global crypto activity.
Growth was not only measured in transaction volume. Monthly active crypto app users in Latin America rose about 18% year over year, roughly three times faster than growth in the United States, the report said.
Brazil dominates the region by transaction size.
The country received $318.8 billion in crypto value with growth approaching 250% year over year, driven largely by institutional trading and expanding regulatory clarity for financial institutions.
Argentina shows a different pattern. Despite inflation falling to about 32% in 2025, crypto adoption continued to rise. Average monthly users were four times higher than during the 2021 bull market, according to the report.
One driver is cross-border payments. Argentine fintech companies linked crypto rails to Brazil’s PIX instant payment system, allowing users to pay Brazilian merchants using pesos while stablecoins such as USDT settle the transaction behind the scenes.
The integration led to 5.4 million crypto app downloads in Argentina during 2025, with January downloads hitting a record level.
Peru, which back in January saw Bybit Pay integrate with digital wallets Yape and Plin, emerged as one of the fastest-growing markets. Crypto app users doubled as interoperability rules allowed banks and digital wallets to connect. Transfers between banks and wallets surpassed 540 million transactions, up 120% year over year.
Stablecoins are playing a central role in the shift toward practical use cases. Across the region, users rely on digital dollars to send money abroad, receive funds from platforms like PayPal and bypass traditional banking networks, the report points out.
Bitcoin (BTC) gained a $10,000 price warning as stocks took a fresh hit over oil-supply fears at Thursday’s Wall Street open.
Key points:
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$10,000 BTC prices may return as the market struggles to hold ground, says new analysis.
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Bitcoin and US stocks take a further beating as markets discount the odds of the Strait of Hormuz returning to “normal.”
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Oil spikes to $114 per barrel in a volatile Wall Street open.
BTC price “may be reverting” to $10,000
Data from TradingView tracked BTC price action as it dipped below $66,000 to reach week-to-date lows.
Bitcoin continued to field warnings from market participants over short-term and long-term price performance.
In his latest analysis, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, even saw $10,000 coming back into play for BTC/USD.
“Before the biggest money pump in history in 2020-21, Bitcoin hovered around $10,000, and it may be reverting,” he wrote in a summary on X.
McGlone argued that $10,000 had particular importance as the point at which Bitcoin futures markets first began trading almost a decade ago.
Data from CoinGlass meanwhile put 24-hour crypto liquidations at over $400 million on Thursday.
Oil surges over supply woes as Bitcoin falls
US equities came under considerable pressure at the open, with the Nasdaq Composite Index down by more than 2% at the time of writing.
Related: US recession odds near 50%: Can Bitcoin copy 2020 comeback gains?
Gold found cause for a modest rebound after its own comedown earlier, with oil supplies through the Strait of Hormuz in the spotlight. WTI crude spiked to $114 per barrel as the US session began.
Reacting, trading resource The Kobeissi Letter said that US inflation could hit 3.6% if prices sustained for two months.
“This would put US inflation at its highest level since September 2023,” it wrote on X.
Prediction platform Kalshi showed declining odds of oil traffic reverting to “normal” levels this year.
The volatility came as markets returned following an address to the nation by US President Donald Trump. As Cointelegraph reported, markets were disappointed by the event as Trump avoided key deescalation promises.
Kobeissi founder Adam Kobeissi called the address the “most puzzling part of the Iran War yet.”
“It began with Iran’s President stating they have “no enmity” towards Americans and ended with President Trump escalating the Iran War, the exact opposite of what we have seen over the last 2 weeks from both sides,” he told X followers.
“It simply does not add up.”
This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research before making any decisions. Cointelegraph makes no guarantees regarding the accuracy or completeness of the information presented, including forward-looking statements, and will not be liable for any loss or damage arising from reliance on this content.
Crypto World
Mobix Labs (MOBX) Stock: 1-for-10 Reverse Stock Split Approved to Meet Nasdaq Requirements
Key Highlights
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Mobix Labs approves 1-for-10 reverse stock consolidation to satisfy Nasdaq standards
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Stock experiences 3.81% decline as reverse split announcement proceeds
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Share consolidation scheduled for implementation on April 6, 2026
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Total outstanding shares to be reduced approximately tenfold post-consolidation
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Company takes action to maintain exchange listing and market credibility
Shares of Mobix Labs (MOBX) traded down to $0.2690, representing a 3.81% decline during fluctuating morning market activity. The stock experienced downward pressure and partial rebound within the trading session. The technology firm announced its decision to execute a reverse stock consolidation designed to meet Nasdaq exchange listing standards.
Company Moves Forward with Share Consolidation Strategy
Mobix Labs, Inc. officially announced a 1-for-10 reverse stock consolidation following shareholder authorization obtained in March 2026. The semiconductor company will execute this structural change following the closing bell on April 6, 2026. This strategic decision serves to elevate the trading price per share and satisfy Nasdaq’s minimum bid price criteria.
The consolidation will merge each group of ten existing shares into a single share, affecting both Class A and Class B common stock equally. Outstanding share quantities will experience substantial reduction following this structural modification. The corporation will maintain its current authorized share capital despite the consolidation.
Related equity instruments including employee stock options, outstanding warrants, and convertible debt securities will undergo corresponding proportional modifications. These adjustments ensure all derivative instruments remain aligned with the restructured share base. As a result, the company maintains internal consistency throughout its entire equity capital structure.
Implementation Mechanics and Shareholder Impact
Mobix Labs will consolidate Class A common shares from approximately 103 million down to roughly 10.3 million shares outstanding. Simultaneously, Class B common shares will contract from around two million to approximately 200,000 shares. This contraction directly results from applying the ten-to-one consolidation ratio.
The company will not issue any fractional shares following completion of the consolidation procedure. Shareholders whose holdings would result in fractional entitlements will instead receive cash compensation calculated using adjusted market closing prices. This methodology streamlines record-keeping while ensuring equitable treatment.
Investors maintaining positions through brokerage accounts or electronic book-entry systems face no required actions. Share balances will update automatically when the reverse consolidation takes effect. This automated process minimizes administrative burden and potential confusion for current equity holders.
Business Model and Market Positioning Context
Mobix Labs functions as a fabless semiconductor enterprise focused on defense and aerospace industry applications. The organization engineers radio frequency and interconnect technologies tailored for high-reliability mission environments. These specialized markets require exceptional performance consistency and adherence to rigorous technical specifications.
The reverse consolidation represents part of comprehensive initiatives to preserve Nasdaq compliance status and sustain institutional credibility. Maintaining continued exchange listing facilitates capital raising opportunities and strengthens corporate market presence. The maneuver therefore constitutes a structural recalibration rather than fundamental business strategy modification.
Notwithstanding recent trading price challenges, the organization remains committed to advanced semiconductor and connectivity solution development. Its product offerings address mission-critical infrastructure where dependability proves paramount. Accordingly, Mobix Labs maintains focus on specialized yet high-value technology market segments.
The consolidation disclosure establishes definitive timelines and procedural clarity for all interested parties. It further demonstrates management’s methodical approach to regulatory compliance without disrupting underlying operational activities. In summary, this development represents a technical capital structure refinement within an otherwise consistent strategic framework.
Rakebit just dropped what might be its most significant update ever, and it fundamentally changes the math for anyone stepping into the crypto casino for the first time.
The Loyalty Leveling System v2 is now live, bringing with it an expanded progression structure, accelerated rewards, and a welcome offer that sounds too generous to be real. Every new player can now wager their first $1,000 with complete rakeback, meaning the house takes absolutely nothing during that initial stretch.
What Zero House Edge Actually Looks Like
Here’s the deal: new Rakebit players receive 100% rakeback across their first nine levels, covering up to $1,000 in total wagers. Every dollar the casino would typically pocket from your bets gets returned directly to you.
This isn’t a bonus that comes with strings attached. It’s straightforward elimination of the house advantage during your opening run.
Breaking Down the Numbers
To be clear, this isn’t free money appearing in your account. The mechanics work like this: every bet carries a house edge, which is normally how casinos turn a profit. With full rakeback, that entire edge comes back to you.
Consider a practical example. If you’re spinning slots with 96% RTP, that means there’s a 4% house edge. For every dollar wagered, four cents returns to you as rakeback, win or lose on that individual spin.
Wager the full $1,000? You’re looking at roughly $40 in accumulated rakeback. The casino’s expected take from your first thousand in action? Absolutely zero. They eat that cost entirely.
Your individual bets still play out normally. You’ll win some and lose some based on chance. But that invisible cut every other casino quietly collects? It doesn’t exist here for your first thousand wagered.
Fifty Levels Replace the Old Twenty
The previous system capped out at 20 levels. Players were hitting the ceiling too quickly, and the early grind felt painfully slow.
Version 2 expands this to 50 levels with a progression curve that actually rewards consistent play.
Levels 1 through 9 represent the risk-free zone. Full rakeback applies here, covering your first $1,000 with no house advantage. This is your window to experiment, test different games, and figure out what works for you while the house literally cannot profit from your action.
Level 10 marks the transition point. You lock in 10% base rakeback permanently, and daily cashback activates at 2%. That 10% becomes your floor going forward.
Levels 10 through 50 watch your daily cashback climb steadily from 2% all the way up to 25%. Stack that on top of your permanent base rakeback and every session starts paying you back more aggressively as you progress.
Everything Else Stays the Same
The loyalty revamp sits on top of the core Rakebit experience that players already know.
No identity verification required. Sign up through Google, Telegram, X, or email. Your documents stay in the drawer.
VPN usage is welcome. Geographic restrictions don’t apply here.
The game library exceeds 7,000 titles from providers like Pragmatic, Hacksaw, NetEnt, Spribe, and Red Tiger. Sixteen provably fair Rakebit Originals offer RTP up to 99%.
Crypto cashouts remain flexible across BTC, ETH, USDT, USDC, SOL, TON, DOGE, XRP, and dozens more.
Getting Started Takes Seconds
Registration at Rakebit requires about ten seconds and zero documentation. Deposit using any of 30+ supported cryptocurrencies. Start playing whatever catches your interest and the full rakeback kicks in automatically on your first $1,000 wagered. Hit level 10 and daily cashback begins stacking on top of your permanent 10% base.
The Short Version
Fifty levels replace twenty, with smoother progression and faster early rewards. Full rakeback covers levels one through nine, eliminating house edge on your first thousand wagered. Level 10 locks in permanent 10% rakeback for life. Daily cashback ranges from 2% to 25% based on your level, starting at ten. No KYC and VPN-friendly policies remain unchanged.
The house edge disappears completely for your opening $1,000. Beyond that, the returns still beat anything else in the space.
Links: Website | Bonuses | Earn with RakeBit | Discord | Support | X (Twitter) | Kick
Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.
The Nasdaq mostly erased an early 2% loss Thursday after reports that Iran is drafting a protocol with Oman to manage traffic through the Strait of Hormuz, easing concerns about disruptions to a key global oil route.
WTI crude oil — which had surged to nearly $115 per barrel as President Trump vowed to continue the war against Iran — fell about $5 on the news.
Crypto prices trimmed losses alongside, but remained sharply lower over the past 24 hours. Bitcoin at $66,700 is down by 3%, and ether (ETH) at $2,060 is down by the same amount.
Iranian officials framed the move as a matter of coordination rather than control. The country’s deputy foreign minister for legal and international affairs, Kazem Gharibabadi, said that even under normal conditions, ship traffic through the strait should be monitored and coordinated with coastal states like Iran and Oman to ensure safety. He added that the proposed measures are not intended to restrict passage, but to “facilitate and ensure safe passage” and improve services for vessels moving through the route.
The remarks come after U.S. President Trump on Wednesday night vowed to hit Iran “extremely hard” in the coming weeks and that the Strait of Hormuz would “open naturally” once the war ends.
Bitcoin fell after Trump’s remarks and continues to trade about 2% lower over the past 24 hours, in line with crypto stocks, including Coinbase (COIN) and Robinhood (HOOD).
Opinion by: João Garcia, DevReal lead at Cartesi.
Decentralized finance presents itself as a transparent alternative to Wall Street. Yet, what it has largely reconstructed is a simplified version of finance, engineered less around market resilience than around the constraints of gas fees. That trade-off, once treated as a technical footnote, is increasingly shaping the limits of what DeFi can become.
So long as computational minimalism remains the overriding priority, financial robustness will remain secondary, and periods of market stress will continue to expose that imbalance.
When markets move faster than the virtual machine
DeFi has rebuilt the familiar architecture of finance, including exchanges, lending markets, derivatives and stablecoins. However, the way these systems function reveals how tightly they are bound by their execution environments.
Risk parameters tend to remain static, and although collateral thresholds can adjust, they typically do so slowly, through governance processes rather than automatic recalibration. Liquidation engines currently rely on fixed formulas rather than adaptive portfolio models that account for shifting volatility or correlations. What appears as a design preference is often a concession to computational limits.
On Ethereum and similar chains, floating-point arithmetic is absent or emulated, iterative simulations are expensive, and continuously recomputing cross-asset exposure can quickly become impractical. The outcome is that financial logic is compressed into forms that are deterministic and affordable to execute, even if that compression strips away nuance.
This architecture performs adequately in stable conditions, but volatility has a way of testing its edges. During MakerDAO’s “Black Thursday” event in March 2020, vaults were liquidated at effectively zero bids, as auction mechanics struggled under collapsing prices and network congestion.
In later downturns, protocols such as Aave and Compound leaned on mass liquidations triggered by fixed collateral ratios, rather than dynamic portfolio recalculations. When Curve’s pools were destabilized in 2023 following a smart contract exploit, the stress radiated outward into lending protocols that treated LP tokens as static collateral, compounding systemic risk.
In each instance, decentralization itself was not the breaking point. Rather, rigid financial logic operated inside an execution layer that could not continuously recompute risk as conditions deteriorated.
Traditional markets evolved in the opposite direction. Banks and clearinghouses simulate thousands of stress scenarios, recalculating exposure as correlations shift and volatility regimes change. Margin requirements respond dynamically to market conditions, and the response is led by substantial computational infrastructure and mature numerical tooling. Public blockchains, by contrast, were not designed with that degree of iterative financial processing in mind.
The illusion of simplicity
Constraining computational complexity reduces certain attack surfaces. Simplicity at the protocol layer, however, does not dissolve complexity in the financial system. It merely pushes it elsewhere.
When risk cannot be modeled and recomputed transparently on-chain, it migrates off-chain into dashboards, analytics teams, discretionary parameter adjustments and emergency governance coordination. The blockchain may remain the settlement layer, but the adaptive intelligence that stabilizes the system increasingly operates outside it. During volatility spikes, protocols often depend on rapid human coordination to adjust parameters, while oracles and large token holders acquire disproportionate influence over outcomes.
The system retains its decentralized base, yet its capacity to respond flexibly depends on actors operating beyond deterministic execution. What appears structurally simple at the smart contract level can conceal a more complex and less transparent operational reality.
DeFi did not converge on simplified finance because static ratios and deterministic curves were proven superior. It converged there because richer computational models were prohibitively expensive to run. As markets deepen, leverage increases, and instruments grow more interdependent, that compromise becomes harder to ignore. Fixed thresholds and blunt liquidation engines, initially safeguards, can begin to function as amplifiers of stress.
Computation as a missing primitive
The deeper constraint, more than decentralization, is execution design.
If verifiable execution environments begin to approximate general-purpose computing systems, the financial design space expands. Native floating-point assistance, iterative algorithms and access to established numerical libraries would allow models to be expressed directly rather than translated into simplified approximations.
Related: Wall Street will eventually submit to the rules of DeFi
This change would allow lending protocols to incorporate scenario-based stress testing instead of relying primarily on fixed collateral ratios. Margin requirements may also adjust in response to observed volatility rather than governance cadence. It could also see credit systems recompute multivariable risk scores transparently, replacing binary heuristics with more granular assessments.
The aim is not to introduce complexity for its own sake. It is to keep financial intelligence inside the protocol, where it remains visible and enforceable, rather than externalizing it into operational layers that users cannot easily audit. This underscores the broader point that the limitations confronting DeFi are largely architectural choices, not inevitabilities of decentralization.
A credibility ceiling
DeFi now stands at a structural crossroads. One direction preserves gas-optimized minimalism, keeping base-layer execution clean while allowing increasingly sophisticated financial logic to migrate off-chain. That path may maintain clarity at the smart contract level, but it constrains how far decentralized finance can responsibly scale.
The alternative is to treat computation itself as a first-class primitive and to accept more capable execution environments in exchange for systems that can adapt, recompute and stress-test transparently. If complex risk logic cannot live on-chain, DeFi will continue to project simplicity in code while relying on discretion in practice.
Markets will not moderate their complexity to accommodate virtual machine constraints. If decentralized finance intends to operate at a meaningful scale, its computational foundations will have to evolve alongside the financial ambitions built on top of them.
Opinion by: João Garcia, DevReal lead at Cartesi.
This opinion article presents the author’s expert view, and it may not reflect the views of Cointelegraph.com. This content has undergone editorial review to ensure clarity and relevance. Cointelegraph remains committed to transparent reporting and upholding the highest standards of journalism. Readers are encouraged to conduct their own research before taking any actions related to the company.
Crypto World
Here is how Drift attackers drained more than $270 million using a Solana feature designed for convenience
The attack on Drift Protocol was not a hack in the traditional sense.
Nobody found a bug or cracked a private key. There wasn’t a flash loan exploit or manipulated oracle either.
Instead, an attacker used a legitimate Solana feature, ‘durable nonces,’ to trick Drift’s security council into pre-approving transactions that would be executed weeks later, at a time and in a context the signers never intended.
The result was a drain of at least $270 million that took less than a minute to execute but more than a week to set up.
What durable nonces are and why they exist
On Solana, every transaction includes a ‘recent blockhash,’ essentially a timestamp that proves the transaction was created recently. That blockhash expires after about 60 to 90 seconds. If the transaction is not submitted to the network within that window, it becomes invalid. This is a safety feature and helps prevent old, stale transactions from being replayed later.
Durable nonces override that safety feature. They replace the expiring blockhash with a fixed ‘nonce,’ a one-time code stored in a special onchain account, that keeps the transaction valid indefinitely until someone chooses to submit it.
The feature exists for legitimate reasons. Hardware wallets, offline signing setups, and institutional custody solutions all need the ability to prepare and approve transactions without being forced to submit them within 90 seconds.
But indefinitely valid transactions create a problem. If one can get someone to sign a transaction today, it can be executed next week or next month, per the system’s hardcoded rules. The signer has no way to revoke their approval once it is given, unless the nonce account is manually advanced, which most users do not monitor.
How the attacker used them
Drift’s protocol was governed by a ‘Security Council multisig,’ a system in which multiple people (in this case, five) share control, and any action requires at least two of them to approve. Multisigs are a standard security practice in DeFi, where the idea is that compromising a single person is not enough to steal funds.
But the attacker did not need to compromise anyone’s keys. All they needed were two signatures, and they appear to have obtained them through what Drift describes as “unauthorized or misrepresented transaction approvals,” meaning the signers likely thought they were approving a routine transaction.
Here is the timeline Drift published in a Thursday X post.
On March 23, four durable nonce accounts were created. Two were associated with legitimate Drift Security Council members. Two were controlled by the attacker. This means the attacker had already obtained valid signatures from two of the five council members, locked into durable nonce transactions that would not expire.
On March 27, Drift executed a planned Security Council migration to swap out a council member. The attacker adapted. By March 30, a new durable nonce account appeared, tied to a member of the updated multisig, indicating the attacker had re-obtained the required two-of-five approval threshold under the new configuration.
On April 1, the attacker executed.
First, Drift ran a legitimate test withdrawal from its insurance fund. Approximately one minute later, the attacker submitted the pre-signed durable nonce transactions. Two transactions, four slots apart on the Solana blockchain, were enough to create and approve a malicious admin transfer, then approve and execute it.
Within minutes, the attacker had full control of Drift’s protocol-level permissions. They used that control to introduce a fraudulent withdrawal mechanism and drain the vaults.
What was taken and where it went
Onchain researchers tracked the fund flows in real time. The breakdown of stolen assets, compiled by security researcher Vladimir S., totaled roughly $270 million across dozens of tokens.
The largest single category was $155.6 million in JPL tokens, followed by $60.4 million in USDC, $11.3 million in CBBTC (Coinbase wrapped bitcoin), $5.65 million in USDT, $4.7 million in wrapped ether, $4.5 million in DSOL, $4.4 million in WBTC, $4.1 million in FARTCOIN, and smaller amounts across JUP, JITOSOL, MSOL, BSOL, EURC, and others.
The primary drainer wallet was funded eight days before the attack via NEAR Protocol intents but remained inactive until execution day. Stolen funds were transferred to intermediary wallets that were funded just the day before via Backpack, a decentralized crypto exchange that requires identity verification, potentially giving investigators a lead.
From there, funds moved to Ethereum addresses via Wormhole, a cross-chain bridge. Those Ethereum addresses had been pre-funded using Tornado Cash, the sanctioned privacy mixer.
ZachXBT, a prominent onchain investigator, noted that over $230 million in USDC was bridged from Solana to Ethereum via Circle’s CCTP (Cross-Chain Transfer Protocol) across more than 100 transactions.
He criticized Circle, the centralized issuer of USDC, for not freezing the stolen funds during a six-hour window after the attack began around noon Eastern time.
The attack was also reminiscent of recent social engineering attempts, using tactics similar to those seen before, according to a social media post by a user who goes by ‘Temmy.’ “we’ve seen this before. we’ve seen this so many times,” the user said.
“bybit. $1.4 billion. the attacker compromised the signing infrastructure and tricked signers into authorizing malicious transactions. same concept. social engineering. not code. ronin bridge. $625 million. compromised validator keys. same story. cetus protocol. $223 million. different method but same result. hundreds of millions gone.” the post said.
What was not compromised
What failed was the human layer around the multisig. Durable nonces allowed the attacker to separate the moment of approval from the moment of execution by more than a week, creating a gap in which the context of the signed document no longer matched the context in which it was used.
All deposits into Drift’s borrow-and-lend products, vault deposits, and trading funds are affected. DSOL tokens not deposited in Drift, including assets staked to the Drift validator, are unaffected. Insurance fund assets are being withdrawn and safeguarded. The protocol has been frozen, and the compromised wallet has been removed from the multisig.
As such, this is the third major exploit in recent months that did not involve a code vulnerability. Social engineering and operational security failures, rather than smart contract bugs, are increasingly how money leaves DeFi protocols.
The durable nonce vector is particularly dangerous because it exploits a feature that exists for good reason and is difficult to defend against without fundamentally changing how multisig approvals work on Solana.
The open question, which Drift’s forthcoming detailed postmortem will need to answer, is how two separate multisig members approved transactions they did not understand, and whether any tooling or interface changes could have flagged durable nonce transactions as requiring additional scrutiny.
Read more: North Koreans hackers likely behind $286 million Drift Protocol exploit
The US dollar has been firm, but the drivers behind the move may be more complex than they first appear.
While geopolitical tension and shifts in risk sentiment play a role, current price behaviour seems increasingly influenced by inflation expectations and yields. As oil prices move higher, markets reassess the outlook for inflation and interest rates, which continues to support the dollar.
This video explores the underlying macro dynamics and why the current environment may be more conditional than it seems.
Watch it now and stay updated with FXOpen.
💬 Don’t forget to like, comment, and subscribe for more professional market insights every week.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Social media platform X is preparing a new security measure aimed at shutting down a widespread form of crypto phishing that leverages hijacked accounts to promote scam tokens.
The company will soon auto-lock any account that mentions cryptocurrency for the first time in its history, according to the company’s Head of Product Nikita Bier. Users will need to go through additional verification before being allowed to post again.
Bier said the feature targets the core incentive behind these attacks. “This should kill 99% of the incentive,” he wrote, referring to the current wave of phishing that tricks users into giving up their credentials, then uses their accounts to push crypto scams.
The change was unveiled in response to a detailed firsthand account from an X user who lost control of their account after falling for a phishing email disguised as a copyright violation notice.
The attacker, the user said, used a pixel-perfect fake login page to harvest two-factor codes, then locked the user out and began promoting fraudulent crypto projects from their account.
Crypto scams on X
These types of attacks have been extremely common on X, an inheritance from before it was acquired by Elon Musk and was still called Twitter.
One of the most common tactics is the “double your money” scam, in which users are told to send cryptocurrency in exchange for a promise of more. Others push fake memecoins or fraudulent airdrops, often using hijacked accounts to lend credibility.
Impersonation is one of the most powerful tools. Spoofed accounts impersonating major personalities have repeatedly tricked followers into clicking malicious links that mimic legitimate crypto platforms.
Cryptocurrency transactions are irreversible, so once a user falls for such an attack, their funds are gone.
The most infamous example came in 2020, when hackers accessed Twitter’s internal systems and took control of major accounts, including those of Apple, Barack Obama, and Elon Musk.
They used those accounts to promote a fake bitcoin giveaway, netting over $100,000 before the posts were removed. That breach, carried out through social engineering against Twitter employees, resulted in the hacker receiving a 5-year sentence.
X has made several attempts to bolster security. These have included bot purges, API restrictions, and behavioral detection. The latest move to auto-lock accounts that post about crypto for the first time builds on those efforts, aiming to cut off the tactic at its root: by making hijacked accounts useless for scams.
Bier also called out Google for failing to stop phishing emails at the email level, pointing the finger at the tech giant’s share of the responsibility for failing to protect its users from phishing attacks.
Wallet in Telegram launched native perpetual futures trading on April 2, 2026, powered exclusively by Lighter, bringing leveraged access to 50+ markets inside the chat app.
The feature went live without requiring users to download any external app or connect a third-party wallet, with positions opening directly inside Telegram.
Perpetual Volumes Set the Stage
The timing of the integration follows a period of sharp growth in on-chain derivatives. Perpetual trading volumes surged over 300% in 2025, with monthly activity consistently exceeding $1 trillion.
Lighter (LIT) processed $65.47 billion in volume in March 2026, ranking fourth among perpetual decentralized exchanges (DEXs) by monthly volume.
The platform runs on a custom zero-knowledge (ZK) rollup on Ethereum, where every order match and liquidation is verifiably proven on-chain.
Lighter’s 24-hour trading volume reached $2.08 billion on the day of the announcement, with open interest sitting at $663 million, per CoinGecko data.
What the Integration Offers
Users accessing the new Perpetuals tab inside Wallet in Telegram can trade over 50 markets spanning crypto, metals, stocks, and oil. Leverage goes up to 50x, and positions can be opened from as little as $1.
Wallet in Telegram confirmed the launch via its official X (Twitter) account, stating the feature allows users to go long or short in seconds.
Lighter confirmed the partnership was open to outside builders as well.
“…the Partner Attribution program is open to anyone ready to build,” they wrote.
The Partner Attribution program now lets any developer integrate Lighter’s perpetuals and spot infrastructure into their own apps, with credit flowing back to the referring builder.
No further details on revenue-sharing terms were disclosed at launch.
LIT Price Reacts and Competitive Context
The Lighter (LIT) token rose 5% on the announcement. However, Lighter still trails the category leader by a significant margin.
Hyperliquid processed $178.23 billion in volume during March 2026, more than double the combined volume of the next three competitors.
The Telegram distribution could narrow that gap. Wallet in Telegram reaches over 150 million users, a retail audience that neither Hyperliquid nor other DEX competitors currently have direct access to through a native chat-app integration.
Whether the Telegram user base converts into sustained trading volume will determine how much the partnership moves Lighter’s competitive position in the months ahead.
The post Wallet in Telegram Adds Perpetuals via Lighter DEX, Fuels 5% LIT Price Surge appeared first on BeInCrypto.
Solana-based crypto exchange Drift Protocol was hacked for roughly $280 million yesterday as part of a weeks-long operation that likely used social engineering to compromise multiple multisig signers’ approvals.
On April 1, 7 pm UTC+1 time, Drift announced that there was “unusual activity” on the protocol and that users should avoid depositing funds. It stressed, “This is not an April Fools joke.”
This followed from X users raising alarms that Drift was being exploited and that it was going to be a substantial one.
Drift then confirmed that it was under an ongoing attack and that it would need to suspend deposits and withdrawals. Researchers began to speculate that Drift’s private keys were compromised.
Read more: Liquity accused of ‘market manipulation’ after Circle acquisition April Fools’
Drift has since shared a detailed timeline of what took place and how.
It said, “This was a highly sophisticated operation that appears to have involved multi-week preparation and staged execution, including the use of durable nonce accounts to pre-sign transactions that delayed execution.”
It claims the attack was not caused by a bug in Drift’s programs or smart contracts, there was no evidence of compromised seed phrases, and that the attack involved unauthorized transaction approvals before the hack’s execution.
However, it admitted that these approvals were likely facilitated by a social engineering attack against its staff and the manipulation of “durable nonce mechanisms.”
What went down with Drift
Durable nonce mechanisms are a type of blockchain tool that can bypass blockhash signing and facilitate offline translation signing.
Drift claims that on March 23, four durable nonce accounts were created, two of which were associated with Drift Security Council multisig members and two associated with attacker-controlled accounts.
Read more: Circle rarely freezes stolen funds but wants reversible transactions
Then, on March 27, “Drift executed a planned Security Council migration due to a council member change.”
Three days later, another durable nonce account was created for a member of the updated multisig, giving the attackers “effective access to 2/5 signers in the updated multisig.”
Day of execution
Drift claims that on April 1, it executed a test withdrawal from the insurance fund. The attacker then, with access to the multisig approvals, executed “a malicious admin transfer within minutes, gaining control of protocol-level permissions.”
Attackers could then, “Use that control to introduce a malicious asset and remove all pre-set withdrawal limits attacking existing funds.”
Drift hasn’t shared any details about how the likely social engineering attack took place. They can sometimes be the result of an attacker donning a false identity, be it over direct message, email, or phone, and tricking someone into giving them access to key privileges.
Drift’s partner Circle hasn’t frozen funds
The incident has drawn criticism from the crypto investigator ZachXBT, who took issue with the stablecoin firm Circle and its slow efforts to freeze the stolen funds.
Drift integrated Circle’s Cross-Chain Transfer Protocol (CTTP) in 2023. ZachXBT noted that “Circle was asleep while many millions of USDC was swapped via CCTP from Solana to Ethereum for hours from the 9 figure Drift hack during US hours.”
“6 hours is how long Circle had to freeze stolen funds from the $280M+ Drift hack,” he said.
Other users have taken issue with the classification of the protocol as “decentralized,” after the attack appears to have exploited centralised mechanisms.
Other users were annoyed that Drift only required two out of the five multig approvals to action the transaction.
Read more: ‘Bad actor’ Circle slammed for letting stolen $3M USDC sit unfrozen
The platform said that it was working alongside security firms, law enforcement, bridges, and exchanges to figure out what happened and freeze the stolen assets. It added that a more detailed report will arrive in the coming days.
The Chief Technology Officer for Ledger has already speculated that the events of the hack resemble a similar modus operandi “to the Bybit hack last year, widely attributed to DPRK-linked actors.”
Protos has reached out to Drift for comment and will update this piece should we hear anything back.
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