Crypto World
XRP Price Analysis: Can April Snap a Historic Six-Month Losing Streak?
Key Takeaways
- Ripple’s XRP has experienced six straight months of decline — a pattern not seen since 2014 — with prices plummeting over 60% from the $3.65 peak.
- Price action slipped from $1.37 down to $1.33, with consistent selling pressure emerging at the $1.37–$1.38 resistance barrier.
- ETF products connected to Ripple registered $3.32M in net inflows, marking a reversal from March’s outflow trend, though insufficient to halt downward momentum.
- Large holders have been accumulating at elevated rates, adding approximately 11 million XRP daily based on 30-day averages, per CryptoQuant intelligence from April 6.
- Breaking the losing pattern requires just a monthly settlement above $1.33, with the CLARITY Act and Bitcoin’s upward trajectory identified as possible positive catalysts.
Ripple’s XRP token has recorded an unprecedented six consecutive months of losses, marking the longest downward streak since 2014. From its peak of $3.65 reached in July, the digital asset has shed more than 60% of its value. While brief rallies toward $1.40 emerged, persistent selling has maintained downward pressure.
The downturn began in October 2025 when President Trump’s announcement of comprehensive China tariffs sparked the crypto market’s most significant single-day liquidation event on record. Leveraged positions totaling over $19 billion evaporated within 24 hours. XRP’s value collapsed from above $2.80 to beneath $2.00 in the immediate aftermath.
November and December saw attempted recoveries that ultimately failed due to ETF capital withdrawals and diminishing institutional appetite. In late February 2026, geopolitical tensions intensified when Iran-related conflicts escalated, driving oil prices beyond $100 following disruptions at the Strait of Hormuz.
The Federal Reserve’s response included upward revisions to inflation projections, prompting institutional capital to retreat from risk-oriented assets. Positive developments for XRP throughout 2026 — such as commodity classification prospects, ETF capital inflows, and strategic partnership reveals from Ripple — proved insufficient against these broader macroeconomic headwinds.
Additional selling from existing XRP holders compounded the pressure. Approximately 60% of XRP’s circulating tokens are currently held at unrealized losses. Whenever prices approached the $1.44 average acquisition cost, holders sitting underwater seized opportunities to exit positions. This recurring behavior characterized every rally attempt from November through March.
Resistance Zone Continues to Repel Recovery Efforts
Analyzing shorter timeframes reveals XRP sliding from $1.37 to $1.33, with accelerated downward movement following rejection near the $1.38 level. Elevated trading volume accompanied the decline, confirming seller dominance. Late-session action tested $1.31 before modest stabilization emerged, though subsequent recovery efforts remained feeble.
A descending trendline has established itself with resistance positioned at $1.3550. Current trading occurs below the 100-hour Simple Moving Average. The combination of increasing volume alongside declining prices indicates distribution activity rather than accumulation behavior.
Ripple-associated ETF vehicles recorded $3.32M in net positive flows, contrasting with March’s withdrawal pattern. However, exchange-based liquidity has diminished, elevating the potential for amplified volatility should critical support thresholds fail. Immediate support resides at $1.33, while the crucial level requiring attention sits at $1.28.
Large Holder Activity Reaches Notable Peak
CryptoQuant intelligence dated April 6 reveals whale accumulation patterns at their most pronounced level in ten months. Substantial wallets have been absorbing more than 11 million XRP tokens daily when averaged across 30 days. Simultaneously, exchange outflows have intensified, constraining available selling supply.
XRP dominated all cryptocurrency assets in ETF inflows during the previous week, capturing $120 million. Bitcoin has advanced beyond $71,000 while XRP currently trades above $1.35.
March concluded with XRP at $1.33. A monthly closing price exceeding that threshold would terminate the six-month negative sequence. The CLARITY Act, legislative framework that would establish XRP’s permanent classification as a digital commodity under federal regulation, may advance if the Senate Banking Committee concludes its markup proceedings in late April.
Key takeaways
- ADA is down 3% and is now trading around $0.2512 per coin.
- The bearish performance could see ADA slip below the $0.2400 support level.
Cardano (ADA) faces renewed selling pressure as bullish interest fades
Cardano (ADA) continues to face significant selling pressure, with the cryptocurrency extending its 4% loss from Wednesday, falling to the $0.2500 at the time of writing on Thursday.
The decline has been driven by intense long liquidations in ADA futures over the last 24 hours, signaling a diminishing bullish sentiment among traders. For a potential recovery, Cardano must reclaim the 50-day Exponential Moving Average (EMA) at $0.2672.
The broader market sentiment remains mixed, as the US-Iran ceasefire risks being undermined by Israel’s ongoing missile strikes on Lebanon. While Cardano futures initially saw some bullish interest following Tuesday’s ceasefire announcement, this has since diminished.
Data from CoinGlass reveals that liquidated ADA derivatives positions over the past 24 hours totaled $602,370, with $544,540 coming from long liquidations, indicating a significant wipeout of bullish positions. This liquidation pressure has contributed to an 6% drop in ADA futures Open Interest (OI), which now stands at $412.36 million.
Furthermore, the OI-weighted funding rate dropped to -0.0045% on Thursday, indicating that traders are increasingly shifting towards short positions.
ADA could dip below the $0.2400 support level
The ADA/USD 4-hour chart remains bearish and efficient following the recent day. ADA is currently trading below the 50-, 100-, and 200-day Exponential Moving Averages (EMAs).
Momentum indicators only hint at tentative stabilization rather than a clear bullish shift. The Moving Average Convergence Divergence (MACD) shows a marginally positive reading, while the Relative Strength Index (RSI) at 53 hovers just above the neutral midline level.
If the selloff continues, ADA could slip towards the March 29 low at $0.2328, with the February 6 low at $0.2205 providing further support.
On the flip side, if the bulls regain control, they would encounter initial resistance at the 50-day EMA around $0.2673. A daily close above this barrier would ease the immediate bearish tone and open the way toward the $0.2991 resistance level.
Crypto World
XRP Ripple Just Outpaced Bitcoin in Weekly ETP Inflows: Is $120 Million a Sign Institutions Are Loading Up?
Ripple XRP recorded $120 million in weekly ETP inflows for the period ending April 7, 2026 – its strongest weekly haul since mid-December 2025 and the single largest contributor to global crypto ETP inflows that week, according to CoinShares data.
Total global crypto ETP inflows for the week hit $224 million, rebounding sharply from a prior $414 million outflow.
XRP’s $120 million slice outpaced Bitcoin’s $107 million and Solana’s $35 million, accounting for over 50% of the entire market’s weekly intake.
The core question now: is institutional investment in XRP building a permanent structural position, or is this a single-week rotation that evaporates on the next macro shock?
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Ripple XRP Price Outlook: Can XRP Break $1.50 as Institutional Money Arrives?
Ripple XRP was trading in the $1.35–$1.40 range during the inflow week, posting a 5–6% weekly gain partially driven by US-Iran ceasefire optimism. The recovery looks constructive on the surface. Dig into the chart structure and the picture is considerably more complicated.
The 3-day chart is showing a death cross – the 50-day EMA has crossed below the 200-day EMA. That same pattern preceded a 54% price collapse in January 2026.
RSI sits near 44 on the daily, not yet oversold but well below the 50 neutral line, reflecting a market still in damage-control mode rather than recovery mode.
Key support levels sit at $1.28, $1.18, and $1.05 – the last being a major structural floor from the pre-ETF launch period. On the resistance side, XRP faces a descending trendline from early March capping near $1.48, with $1.65 and $1.85 as the next meaningful ceilings if that line breaks with volume.
Derivatives open interest has been declining alongside the price recovery, which signals thin conviction behind the bounce – institutions buying ETPs aren’t the same as leveraged longs pushing spot price.
A clean breakout above $1.48 with sustained daily volume opens the door to $1.65, with $1.85 as the macro target if broader crypto sentiment flips.
For us, the invalidation is simple: a close below $1.28 on the daily reopens the path to sub-$1.10 and calls the entire inflow thesis into question. Prior price analysis on the $119.6M inflow week flagged this same trendline resistance as the decisive level.
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Bitcoin Hyper Targets Early Mover Upside as XRP Tests Key Resistance
XRP’s institutional setup is real. But at a market cap north of $75 billion, the math on asymmetric returns gets harder to ignore.
A 10x from current levels requires XRP to reach a market cap larger than Bitcoin’s current valuation – that’s not a trade, that’s a thesis that needs decades and dominant global payment rail adoption to validate.
Bitcoin Hyper (HYPER) is currently in presale, targeting early-mover upside in the Bitcoin yield infrastructure layer – a sector drawing serious institutional attention as US spot Bitcoin ETFs pulled in $471.3 million in a single week.
The presale has raised $32 million to date, with the current token price at $0.0093 and staking APY running at 86% annualized for early participants.
The core technical differentiator: Bitcoin Hyper operates as a Bitcoin-native Layer 2 executing smart contracts with BTC as the settlement asset – bypassing the wrapped-token credit risk that plagues existing BTC DeFi infrastructure. That’s a specific, verifiable architecture claim in a space full of vague interoperability promises.
For traders watching XRP’s institutional flows but frustrated by the price-action disconnect, the asymmetry argument is straightforward: ETP inflows into large-cap assets move sentiment; early presale positioning in infrastructure plays moves portfolios.
Research Bitcoin Hyper here before the presale window closes.
The post XRP Ripple Just Outpaced Bitcoin in Weekly ETP Inflows: Is $120 Million a Sign Institutions Are Loading Up? appeared first on Cryptonews.
Key takeaways
- ENJ is one of the best performers in the crypto market, up 45% in the last 24 hours.
- The rally could allow ENJ to surge towards $0.045 in the near term.
Enjin Coin (ENJ) continues to rally
Enjin Coin (ENJ) extends its gains, holding steady above $0.035 on Thursday following a remarkable 45% price increase in the last 24 hours.
This bullish momentum is underpinned by both on-chain and derivatives data, with a positive technical outlook suggesting that ENJ may continue its upward trend in the near future.
Data obtained from Santiment shows that Enjin Coin’s ecosystem trading volume surged to $216.97 million on Thursday, marking the highest trading volume since April 2025.
Meanwhile, CoinGlass data shows that ENJ’s futures Open Interest (OI) reached a new record of $74.68 million on Thursday, up significantly from $19.82 million on Tuesday. A rising OI indicates fresh capital entering the market, which could further propel the coin’s price upward.
Despite the rally, traders remain cautious as some early signs of buyer fatigue begin to surface. According to CryptoQuant, there is a rise in retail activity, suggesting a shift in market sentiment.
Furthermore, sell-side dominance in both the spot and futures markets may point to potential bearish pressure, signaling that the current rally could face resistance in the near term.
ENJ eyes further gains after 45% increase
The ENJ/USD 4-hour chart is bullish and efficient thanks to the 45% rally. The rally has lifted ENJ price back above the short- and medium-term Exponential Moving Averages (EMA), leaving only the 200-day EMA at $0.035 as immediate overhead resistance.
The Relative Strength Index (RSI) on the 4-hour chart reads 70, indicating a bullish bias. The Moving Average Convergence Divergence (MACD) histogram turning strongly positive reinforces growing upside momentum.
If the rally persists, initial resistance is seen at the 200-day EMA at $0.035. If the daily candle closes above this level, it could extend its rally towards the $0.051 resistance level, followed by $0.066 and $0.082 zones.
However, if the bears regain control, ENJ would likely face the initial support at $0.031. The 100-day EMA at $0.024 and the 50-day EMA at $0.022, together with the lower horizontal level at $0.019, form a deeper demand zone that could also prove to be bouncing support levels in the near term.
Cryptocurrency exchanges are taking a growing market share from traditional finance (TradFi) trading venues through tokenized commodities products, but the mainstream adoption of tokenized precious metals remains limited by pricing and liquidity issues.
Silver perpetuals have reached about 40% of the equivalent volume of the Comex Silver (SI) Contract at their peak, the world’s largest silver futures market, which accounts for over 70% of global exchange-traded silver futures volume, according to a Thursday report from Binance Research.
During March and April, tokenized silver accounted for 14.90% and 14.98% of the Comex’s volume, respectively, up from just 1.37% in January.
The growth suggests crypto exchanges are capturing more demand for round-the-clock exposure to traditional assets, particularly in metals-linked perpetuals, but analysts at Kaiko said liquidity depth and price formation still pose major obstacles to wider adoption among traditional investors.
Crypto TradFi perps need reliable pricing, strong liquidity
Tokenized commodities offer 24/7 trading, which can create vulnerabilities compared to TradFi gold and silver futures, where the holiday and weekend close create “natural circuit breakers that actually protect market quality,” Kaiko research analyst Laurens Fraussen told Cointelegraph.
This exposes tokenized commodities to degraded order book debt, widened spreads and less reference pricing from closed traditional venues.
Legacy commodities offerings avoid these issues through centralized clearing, consolidated liquidity, standardized contracts and “coordinated operating hours that prevent liquidity deserts,” Fraussen said, adding that crypto needs “better chain abstraction and unified liquidity aggregation” to compete with TradFi.
Related: NYSE taps Securitize for 24/7 tokenized securities platform
Despite the infrastructure concerns, tokenized gold perps have surpassed the gold futures trading volumes of several regional commodity exchanges, a trend seeing monthly acceleration, according to Binance Research.
Binance Research also said gold perpetuals outpaced several regional commodity exchanges in March, reaching 401% compared to gold futures trading on the Japanese energy commodities futures exchange TOCOM, 228% of India’s Multi Commodity Exchange (MCX) and 216% of the Dubai Gold & Commodities Exchange (DGCX).
Binance attributed part of this growth to “market-moving events” that routinely occur on weekends, which would leave investors exposed to gap risks through traditional venues operating under regular trading hours.
Magazine: Can Robinhood or Kraken’s tokenized stocks ever be truly decentralized?
Crypto ATM operator Bitcoin Depot revealed that it lost about 50.9 Bitcoin, worth roughly $3.7 million, after a hacker gained access to some of its internal systems.
The breach happened on March 23 after the attacker took control of credentials linked to Bitcoin Depot’s corporate Bitcoin (BTC) wallets, according to a Monday filing with the US Securities and Exchange Commission. The company said that customer accounts, platforms and personal data were not affected.
Bitcoin Depot added that the attack has not had a major impact on daily operations, and said it has insurance that may cover some of the losses. “As the investigation of the incident is ongoing, the full scope, nature and impact of the incident are not yet completely known,” the filing states.
Shares of Bitcoin Depot jumped sharply on Wednesday, closing at $2.74, up $0.37 or 15.61% on the day, with additional gains in pre-market trading pushing the price to $2.90, a further 5.84% increase, according to data by Yahoo! Finance.
Related: Bitcoin Depot enters Hong Kong as part of Asia expansion
Bitcoin Depot under pressure
Bitcoin Depot has been facing growing legal and regulatory pressure across several US states. The company recently had its money transmission license suspended in Connecticut, along with a temporary cease-and-desist order, with regulators citing violations such as high fees and failure to fully refund scam victims.
The company has also faced a lawsuit from Massachusetts alleging overcharging and facilitating scams, and paid $1.9 million in Maine to compensate affected users.
In June 2024, Bitcoin Depot also experienced a data breach that exposed the personal information of 26,732 customers. The breach was linked to an external system, and authorities cleared the company to issue notifications only after the probe concluded in June 2025.
Related: Australia’s financial watchdog may gain power to ban crypto ATMs
US cities move to ban crypto ATMs
US cities are increasing pressure on crypto ATMs as concerns over fraud grow. Stillwater, Minnesota, has banned crypto ATMs after residents lost large sums to scams, while Spokane, Washington, introduced a citywide ban in June, calling the kiosks a “preferred tool for scammers” following a spike in fraud cases.
Haverhill, Massachusetts, is also considering banning crypto ATMs, with a proposed ordinance citing fraud and money laundering risks that would require all machines to be removed within 60 days if approved.
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Banks are approaching stablecoins cautiously despite rapid market growth, reflecting early-stage strategy and rising structural concerns, according to a report by S&P Global Market Intelligence.
According to the Wednesday report, the question is no longer whether stablecoins will endure, but how they will reshape business models, infrastructure and revenue, For banks, the trade-offs are sharp, spanning deposit risk, modernization costs and new competition.
A wait-and-see stance still dominates. S&P Global’s Q1 2026 U.S. Bank Outlook survey found just 7% of 100 mostly smaller institutions are developing frameworks, with none actively piloting, underscoring how exploratory strategies remain.
“Most financial institutions remain early and cautious,” said Jordan McKee, director of fintech research at S&P Global Market Intelligence, in emailed comments. “Our survey of U.S. banks shows that stablecoin strategy is still largely exploratory, with limited internal development and no active pilots among smaller institutions.”
Stablecoins, digital tokens pegged to assets like fiat currencies or commodities, have become a core layer for payments and settlement in crypto, widely used in trading and cross-border flows. The market is dominated by Tether’s USDT, followed by Circle Internet’s (CRCL) USDC.
The stablecoin market has grown rapidly into a roughly $300 billion-plus sector, with total market capitalization surpassing $316 billion in early 2026 after nearly doubling since 2023, according to multiple data sources.
Transaction volumes have also surged into the tens of trillions annually, underscoring rising use in trading, payments and cross-border transfers, while forecasts point to continued expansion, potentially reaching $500 billion or more in the near term as institutional adoption accelerates.
Pressure is building. The report pointed to growing concern over deposit cannibalization and customer migration, alongside a surge in stablecoin mentions on earnings calls following the GENIUS Act’s passage in July 2025.
Competition is also intensifying. S&P Global highlighted a wave of nonbanks pursuing charters to house stablecoin issuance, custody and settlement within regulated entities, positioning themselves as credible alternatives.
Banks are also wary of yield-like incentives in stablecoin ecosystems that could compete with deposits, even as direct interest payments remain restricted.
Responses will diverge. S&P Global analysts expect large, global banks to explore issuing tokenized deposits or bank-backed digital assets, while regional and midsize lenders focus on facilitating access via fiat on- and off-ramps. Regardless of strategy, banks will remain key gateways between fiat and stablecoin networks, but doing so will require significant upgrades to legacy systems ill-suited for real-time digital asset activity.
Cross-border banks face the strongest push to modernize as payments shift to multi-rail systems combining traditional, real-time and tokenized networks. Interoperability and wallet infrastructure will be critical, with large banks building multi-network connectivity and smaller firms leaning on fintech partners. Secure custody and embedded compliance are expected to become standard, the report added.
Read more: Stablecoin rewards restrictions can slow but not stop Circle’s USDC, says Citigroup
BitMEX has released its Q1 2026 derivatives report, highlighting a sharp rise in trading activity for traditional finance perpetual swaps (TradFi Perps), driven by increased demand for tokenised commodities and equities.
According to the report, TradFi perpetual swaps grew from 0.03% of total crypto derivatives volume in December 2025 to 1.72% by the end of Q1 2026, reaching $30.7 billion in weekly trading volume. This expansion was supported by new product launches across prominent exchanges and macroeconomic events, including increased volatility in commodities markets.
“Q1 marked a clear inflection point for TradFi perpetuals, with volume growth driven by real market demand for 24/7 access to commodities and equities,” said Stephan Lutz, CEO at BitMEX. “What we’re seeing is the early formation of a structurally different market, one that removes the constraints of traditional trading hours and introduces new forms of price discovery and liquidity.”
BitMEX has introduced a range of TradFi perpetual products as part of this shift, expanding its derivatives offering to provide continuous access to commodities and equity markets.
The report identifies commodities as the primary growth driver, with trading volume increasing more than 65,000% during the quarter. Precious metals such as silver and gold led early momentum, while crude oil trading accelerated in March amid geopolitical tensions, reaching $6.9 billion in weekly volume.
Equity perpetuals also saw significant growth, rising more than 900% to $4.9 billion in weekly volume. Activity was concentrated in crypto-adjacent equities and major technology stocks, reflecting continued convergence between digital asset markets and traditional finance instruments.
The report further notes structural differences between perpetual swaps and traditional Contracts for Difference (CFD), particularly in areas such as transparent price discovery, peer-to-peer execution, and continuous market access.
Unlike CFD-based models offered by some platforms, these products enable direct market participation, with pricing determined by underlying market dynamics rather than broker-led mechanisms. These characteristics have contributed to increased participation from both retail and professional traders.
Market expansion was also shaped by exchange-level developments. BitMEX recorded more than 1,300% growth over the 90-day period while Binance captured a significant share of new volume following its entry into the category.
In addition, funding rate disparities across exchanges created arbitrage opportunities. The report highlights cases where traders could capture yield through cross-exchange positioning, with some spreads exceeding 100% annualised returns under specific conditions.
Looking ahead, BitMEX expects continued growth in TradFi perpetual markets, supported by broader asset listings across Forex, commodities, and more, increasing institutional awareness, and ongoing demand for 24/7 trading access. The report suggests that weekly trading volumes could approach $100 billion as additional asset classes enter the market.
The full report can be found on BitMEX’s blog.
About BitMEX
BitMEX is the OG crypto derivatives exchange, providing professional crypto traders with a platform that caters to their needs with low latency, deep crypto native and especially BTC liquidity, and unmatched reliability.
Since its founding, no cryptocurrency has been lost through intrusion or hacking, allowing BitMEX users to trade with confidence that their funds are secure and that they have access to the products and tools required to be profitable.
The post BitMEX Report Finds 500%+ Increase in Tokenised Commodities and Equity Perpetuals appeared first on BeInCrypto.
BitMEX co-founder Arthur Hayes has publicly challenged reports that Iran is collecting Bitcoin (BTC) tolls from oil tankers transiting the Strait of Hormuz.
His skepticism echoes a growing chorus of crypto voices questioning whether Tehran’s crypto toll demands have any on-chain substance behind them.
Iran’s Crypto Toll Demand Meets Blockchain Skepticism
The controversy stems from a report on Bitcoin tolls at the Strait of Hormuz. According to Hamid Hosseini, spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union, laden tankers must email cargo details to Iranian authorities.
They then receive a toll assessment of roughly $1 per barrel of oil on board.
Payments must be made in cryptocurrency or Chinese yuan. BTC was explicitly cited as an accepted option. Fully loaded supertankers could face fees of up to $2 million, roughly 281 BTC at recent prices.
The payment window is reportedly just seconds long, designed to make funds difficult to trace or seize under Western sanctions.
The Islamic Revolutionary Guard Corps (IRGC) enforces compliance, with non-compliant vessels risking denial of passage.
Hayes responded on X with a pointed challenge.
“I’ll believe Iran is charging a toll in $BTC when I see a tx linked to a vessel’s toll payment. Otherwise, it’s just the IRGC trolling the western filthy fiat financial system,” Hayes challenged in a post.
Strait Remains Blocked as Doubts Mount
Despite a two-week US-Iran ceasefire, shipping data shows minimal tanker traffic. According to reports citing intelligence firm Kpler, no oil or gas tankers have passed through since the ceasefire took effect.
Hundreds of vessels remain waiting, and the waterway that normally handles roughly 135 ships per day remains largely restricted.
Earlier Bloomberg reporting indicated some vessels had paid tolls in yuan or stablecoins like Tether (USDT) for IRGC-escorted passage before the ceasefire.
However, no BTC-specific payments have been verified on-chain.
Other renowned accounts amplify the skepticism, citing “geopolitical shitposting” as the reason the story transcends BTC-only to any crypto or yuan within minutes.
Meanwhile, a Mossad-linked commentary account raised an additional wrinkle. It claimed Iran listed the Trump-linked USD1 token as an accepted payment method, framing the move as a potential geopolitical provocation.
What Comes Next
BTC surged roughly 5% on the initial reports, signaling that markets treated the news as a bullish adoption signal.
Yet the EU has publicly stated that freedom of navigation must be ensured without any payment or toll.
If a verifiable on-chain transaction surfaces linking BTC to a specific vessel’s toll, it would represent one of the largest real-world sovereign uses of Bitcoin for energy-related payments.
Until that proof appears, Hayes and much of the crypto community remain unconvinced.
The post Arthur Hayes Calls Iran’s Bluff: Show Me the Bitcoin or It’s Just IRGC Theater appeared first on BeInCrypto.
Bitcoin Depot Inc. reportedly failed to spot a data breach that resulted in the loss of over 50 bitcoins (BTC) worth $3.7 million for three days.
The BTC ATM operator disclosed the loss of 50.9 BTC in an SEC filing earlier this week, stating that the attacker gained access to its IT systems and its digital asset settlement accounts on March 23.
This, it says, allowed them to move the BTC from company-controlled wallets.
However, according to subsequent research from onchain sleuth ZachXBT, the breach actually occurred three days earlier on March 20.
“On April 6, 2026 Bitcoin Depot disclosed in an SEC 8K filing it uncovered an incident on March 23, 2026 which resulted in 50.9 BTC ($3.6M) stolen,” wrote Zach on Telegram.
“However the report did not include theft addresses so I manually traced out the incident onchain and found 19 high confidence theft addresses from March 20.
“This means it took three days for Bitcoin Depot to notice the funds were missing from its business.”
Read more: Inside the $280M Drift hack: weeks of setup, minutes to drain
Zach continued, “A delta of 3.55 BTC (54.45 BTC total) vs 50.9 BTC reported was found indicating other employee personal accounts may have also been impacted.
“54 BTC ($3.7M) flowed to KuCoin, a crypto exchange increasingly used by illicit actors.
“At the time of my post the theft addresses still have not been reported in any compliance tools I use.”
According to the SEC filing, Bitcoin Depot is continuing to investigate the nature and scope of the incident with the assistance of unnamed “third-party specialists.”
It also says it’s “working with its outside cybersecurity experts to further reinforce its information technology systems and to prevent future unauthorized access.”
It also reassures users that no customer personally identifiable information was accessed, but does add that the “investigation remains ongoing.”
Got a tip? Send us an email securely via Protos Leaks. For more informed news and investigations, follow us on X, Bluesky, and Google News, or subscribe to our YouTube channel.
Canary Capital has filed registration with the SEC for a Pepe ETF, marking what appears to be the first attempt to create and ETF for the “blue-chip” memecoin in the U.S.
Canary Capital filed a registration with the U.S. Securities and Exchange Commission for what appears to be the first U.S. spot Pepe ETF on Wednesday, April 8, 2026. The filing represents a formal submission to the SEC for a potential exchange-traded product tied to the Pepe memecoin.
The move comes amid growing institutional interest in cryptocurrency-based ETF products. If approved, the ETF would provide regulated exposure to Pepe, the fourth-largest memecoin by market capitalization.
Sources: SEC
This article was generated automatically by The Defiant’s AI news system from publicly available sources.
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