While Trump keeps us preoccupied with trade wars, the crypto world has been buzzing with activity. There have been some shocking incidents, from the Zklend hacker losing millions to a phishing attack, to stablecoins facing issues with their pegs. Also, a couple of exciting airdrop checkers have gone live, and a major stablecoin issuer has filed for an IPO. Let’s dive into the latest updates!
1) zkLend Hacker Claims to Have Lost Stolen ETH to a Tornado Cash Phishing Site
In a surprising twist, the hacker behind the $9.6 million exploit of the zkLend decentralized money-lending protocol claims to have been tricked by a phishing site. On March 31, the hacker sent 2,930 Ether (ETH) to a fake version of Tornado Cash, and just like that, the stolen funds disappeared.
In a message to zkLend via Etherscan, the hacker shared their regret, stating, “I tried to move funds to a Tornado, but I used a phishing website, and all the funds have been lost.” They pleaded for help in tracking down the phishing site’s owners to recover the funds.
This incident serves as a reminder of the risks involved in moving large sums of crypto. Despite the hacker’s plea for sympathy, zkLend’s response was clear: they asked the hacker to return any remaining stolen funds. However, it seems the hacker was still moving funds around, sending 25 ETH to another address shortly after the confession.
A fellow user warned the hacker about the mistake, but the thief responded, “It’s so devastating. Everything gone with one wrong website.” This shows how even the most experienced can fall victim to scams in the crypto space.
2) Airdrop Checkers and Updates You Might Have Missed
Airdrops continue to be one of the most exciting ways to earn crypto. Here are a few updates on recent airdrop checkers and claims:
- StakeStone Airdrop Claim and Checker: You can now claim your StakeStone airdrop and use the checker to ensure you’re eligible. Check it out on the official StakeStone tweet. The $STO token is already tradable on platforms like KuCoin and Bitget.
- Hyperlane Airdrop Claim: Hyperlane has officially launched its airdrop claim process. If you haven’t already, visit the official announcement to claim your rewards.
- LayerEdge Updates: LayerEdge has released its tokenomics and roadmap. For those looking to get involved in their testnet airdrop, check out their announcement, and don’t miss out on the airdrop details on AirdropAlert.
These airdrop opportunities could be a great chance to get some tokens in your wallet, so make sure to stay updated! If you missed these, make sure to check our latest list of BNB airdrops.
3) Circle Files for IPO: A Big Step for Crypto and Stablecoins
In a major move, Circle, the company behind the USDC stablecoin, has filed for an Initial Public Offering (IPO). The filing, which was made with the SEC on Tuesday, sets the stage for Circle’s entrance into the public markets.
The company is looking for a valuation of up to $5 billion and plans to list on the New York Stock Exchange under the ticker symbol CRCL. JPMorgan Chase and Citigroup are serving as lead underwriters for the IPO.
Circle’s move to go public follows a failed merger with a special purpose acquisition company (SPAC) in late 2022. However, since then, Circle has been working hard to position itself as a key player in global finance, even relocating its headquarters to One World Trade Center in New York.
In 2024, Circle reported $1.68 billion in revenue, a significant increase from the previous year. If successful, this IPO would make Circle one of the most prominent crypto companies to go public in the U.S., joining the ranks of Coinbase.
4) FDUSD Stablecoin Faces Depeg Crisis Amid Justin Sun’s Claims
A significant issue has hit the FDUSD stablecoin, which briefly lost its peg to the U.S. dollar. The incident occurred after Tron founder Justin Sun accused First Digital, the issuer of FDUSD, of insolvency.
Sun’s accusations sparked fears in the market, causing FDUSD to depeg and lose about $200 million in market capitalization. According to Sun’s tweets, First Digital could not meet client fund redemptions for FDUSD. While First Digital denied the claims, the damage had been done, and FDUSD’s market value took a hit.
Despite the scare, FDUSD has since regained its peg. However, this event highlights the risks associated with centralized stablecoins and the importance of transparency in the crypto space.
5) China’s Retaliatory Tariff on U.S. Goods Causes Global Market Turmoil
On Friday, China’s Finance Ministry announced a 34% retaliatory tariff on all goods imported from the U.S. This move follows a series of duties imposed by the Trump administration earlier in the week.
The tariffs are set to impact a trade relationship worth over $500 billion. This decision by China comes amid rising global economic risks, including inflation and recession concerns. The tariffs could shift trade relationships, with China possibly seeking new partners while attempting to stimulate its own economy.
This situation adds to the ongoing uncertainty in the global markets, and the crypto space is not immune to such geopolitical tensions.
6) Gutter Cat Gang Token Sale Fumbles on ApeChain
The highly anticipated token sale for the Gutter Cat Gang (GCG) project encountered significant issues on March 31. The GANG token was set to launch on ApeChain, but a “technical issue” halted the sale, leaving participants unable to claim their tokens.
Despite the team’s efforts to resolve the problem, the sale was described as a “fumble” by community members. Initial reports suggested that GCG had raised only a fraction of its $1 million target, far below expectations.
While GCG aims to raise $1 million with the sale of 12% of its token supply, it’s unclear whether the team will recover from this setback. Many within the community are now questioning the long-term success of the project.
Related: NFT marketplace X2Y2 shuts down.
Final Words
As you can see, the crypto world is never short of drama. From hackers falling victim to phishing scams, to airdrop claims and stablecoin issues, there’s always something happening. Stay tuned for more developments in the coming weeks, and make sure to stay informed with the latest crypto news and airdrop opportunities.
Keep an eye on zkLend, as well as upcoming projects like StakeStone and Hyperlane. As the market continues to evolve, being informed is your best bet to stay ahead of the game.
Let’s keep watching how things unfold, especially with the potential IPO of Circle and the ongoing challenges facing stablecoins like FDUSD. As always, the crypto world moves fast, so make sure you’re keeping up!
If you enjoyed this blog, you may want to check our other crypto news updates.
As always, don’t forget to claim your bonus below on Bybit. See you next time!
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