2 Jun 2025, 12:38

BITCOIN PRICE ANALYSIS & PREDICTION (June 2) – BTC Stays Above $103k After a Week Decline, Will This Level Hold?

Reaching a new milestone with an over 20% rally in six weeks, Bitcoin marked resistance and halted rallies due to bullish weakness. It initiated a drop and retraced slightly, looking for strong support to rebound. The month of April ended a bit rough for Bitcoin after recovering back to the recent top in a couple of weeks. It printed a new all-time high at $111,980 and lost some ground due to a rejection, looking weak daily. Over the weekend, Bitcoin managed to stay above the $103k level after experiencing a dramatic decline throughout the weekdays. That brought a small relief in the drop as it pushed an inch above the $105kl level. Today, being the first day of a new week, Bitcoin appears a bit weak due to a minor loss in the past hours. A further deduction could trigger more bleeding in the next few days before locating solid ground. If the last weekend level holds well, we may see more gains in the next few hours. So far, it has been an interesting ride for Bitcoin in the last two months. While it is still under a retracement, we can anticipate a bigger rally as soon as it finds firm support. Its market structure is still considered bullish from a long-term perspective despite the latest drop. BTC’s Key Levels To Watch Source: Tradingview A drop below $103k could slide the price to the $100,718 support level. Failure to bounce back could result in more bleeding to the $97,895 and $93,500 levels before regaining strength. Bitcoin currently trades near a sub-resistance level of $106,600. A push above it should bring us back to the $111,980 resistance before breaking higher to the $115k and $120k levels in no time. Key Resistance Levels: $106,600, $111,980, $120,000 Key Support Levels: $100,718, $97,895, $93,500 Spot Price: $105, 311 Trend: Bullish Volatility: Low Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !

2 Jun 2025, 11:36

Ethereum’s Pectra Attack Claims First Victim, $150K Drained in EIP-7702 Phishing

The post Ethereum’s Pectra Attack Claims First Victim, $150K Drained in EIP-7702 Phishing appeared first on Coinpedia Fintech News Ethereum recently got a major boost with the Pectra upgrade, following the success of ‘The Merge’. One key feature, EIP-7702, promised to make wallets easier to use. But it is now facing backlash as it is being attacked by malicious actors. EIP-7702, proposed by Vitalik Buterin, was designed to improve Ethereum wallets by allowing them to act like smart contracts briefly. This meant easier transactions, gas fee sponsorships, and better features like spending limits and passkey authorization. But in reality, it has opened the door for scams. While EIP-7702 brings new convenience, it also introduces new risks Our Research team found that over 97% of all EIP-7702 delegations were authorized to multiple contracts using the same exact code. These are sweepers, used to automatically drain incoming ETH from compromised… pic.twitter.com/xHp7zr4hC9 — Wintermute (@wintermute_t) May 30, 2025 Malicious Script “CrimeEnjoyor” Exposed Wintermute, a blockchain security firm, found that over 80% of wallet delegations are linked to one malicious script called “CrimeEnjoyor.” It hijacks wallets and instantly drains their funds to attacker-controlled addresses, all while pretending to offer a better user experience. “Our Research team found that over 97% of all EIP-7702 delegations were authorized to multiple contracts using the same exact code. These are sweepers, used to automatically drain incoming ETH from compromised addresses, ” Wintermute , shared in a recent X post. “The CrimeEnjoyor contract is short, simple, and widely reused. This one copy-pasted bytecode now accounts for the majority of all EIP-7702 delegations. It’s funny, bleak, and fascinating at the same time.” Scam Sniffer reported that one wallet lost nearly $150K in a phishing scam tied to Inferno Drainer. As Ethereum adds new features, scams like this are rising, which often catch users off guard. The Real Weakness: Private Key Safety Experts note that the EIP-7702 isn’t the real problem, but weak key security is. Stolen or leaked private keys remain the biggest risk. Researchers warn that while 7702 makes transactions smoother, it also makes wallet-draining attacks cheaper and faster. Firms like SlowMist have urged the wallet providers to improve security features and make contact details more visible. Their message is that convenience should not compromise protection. Bad Actors Didn’t Profit Much Despite the massive wallet-draining attempts, attackers have not made a lot of profit. They spent about 2.88 ETH to target nearly 79,000 wallets. One address alone handled over 52,000 of these authorizations. The stolen ETH is traceable, but so far, the main wallets tied to these scams have not received any funds, which means that the attacks may not be paying off yet.

2 Jun 2025, 10:40

Crypto Hacks: Alarming $244 Million Losses Rock Blockchain Security in May 2025

BitcoinWorld Crypto Hacks: Alarming $244 Million Losses Rock Blockchain Security in May 2025 The world of cryptocurrency is exhilarating, offering unprecedented opportunities for innovation and financial freedom. Yet, it also presents significant challenges, particularly when it comes to security. The month of May 2025 served as a stark reminder of these risks, with a wave of crypto hacks causing substantial damage across the ecosystem. Understanding the Scale of Recent Crypto Hacks According to data shared by blockchain security firm PeckShieldAlert on X, May 2025 was a costly period for the digital asset space. The month recorded 20 major incidents, collectively resulting in total crypto losses amounting to a staggering $244.1 million. This figure underscores the persistent threat malicious actors pose to decentralized finance and other crypto protocols. The report highlighted several significant breaches: The largest single incident involved a massive $220 million exploit targeting Cetus Protocol. Another substantial hack led to approximately $12 million in losses related to Cork Protocol. A third notable exploit resulted in $2.2 million in losses tied to the BNB-based Mobius Token (MBU). These figures paint a clear picture: while the number of incidents might seem relatively low at 20, the impact of just a few large-scale crypto hacks can devastate projects and investor confidence. Deep Dive: The $220 Million Cetus DeFi Exploit The exploit of Cetus Protocol stands out not only for its sheer size but also because it targeted a decentralized finance (DeFi) platform. DeFi exploits represent a significant portion of overall crypto losses due to the complex nature of smart contracts and the large pools of liquidity often involved. While specific technical details of the Cetus exploit in May 2025 might still be under investigation, common vectors for such large-scale DeFi exploits include: Smart Contract Vulnerabilities: Flaws in the code governing the DeFi protocol can be exploited to drain funds. These can range from reentrancy attacks to logic errors in how the protocol handles user interactions or external data feeds. Flash Loan Attacks: Malicious actors can use uncollateralized flash loans to manipulate asset prices on decentralized exchanges or exploit vulnerabilities in lending protocols before repaying the loan within the same transaction. Oracle Manipulation: If a DeFi protocol relies on external price feeds (oracles), manipulating these feeds can trick the protocol into executing transactions based on incorrect price data, leading to illicit gains for the attacker. Private Key Compromise: Although less common for protocol-level exploits of this scale unless it involves administrative keys, compromised private keys can grant attackers direct access to large treasuries or user funds held in hot wallets. The $220 million loss from Cetus is one of the largest DeFi exploits recorded in recent history, highlighting the critical need for rigorous auditing and continuous monitoring in the DeFi space. Beyond Cetus: Other Notable Crypto Losses in May While Cetus dominated the headlines, the incidents involving Cork Protocol and Mobius Token also contributed significantly to the overall crypto losses in May 2025. The $12 million loss linked to Cork Protocol and the $2.2 million loss from the Mobius Token (MBU) on BNB Chain remind us that vulnerabilities exist across various types of crypto assets and platforms. These incidents, while smaller than Cetus, still represent substantial financial blows to the affected projects and their communities. They underscore the diverse nature of threats, which can target different layers of the crypto ecosystem, from specific tokens to cross-chain protocols or lending platforms. Why is Blockchain Security So Challenging? The persistent occurrence of significant crypto hacks raises a fundamental question: why is securing blockchain-based systems and protocols so difficult? Several factors contribute to this challenge: Immutability: A core feature of blockchain is that transactions, once confirmed, are irreversible. While this is a strength for censorship resistance, it means that if a malicious transaction or exploit occurs, it is extremely difficult, often impossible, to reverse the theft of funds. Complexity: Smart contracts and decentralized applications (dApps) can be incredibly complex, involving intricate logic and interactions with other protocols. A single bug or logical flaw in this complex code can open the door to exploitation. Open Source Nature: While open source promotes transparency and community review, it also means that potential attackers can scrutinize the code for vulnerabilities just as easily as security researchers. Rapid Innovation: The crypto space moves at breakneck speed. New protocols, consensus mechanisms, and financial primitives are constantly being developed and deployed, sometimes without sufficient time for rigorous testing and auditing. Decentralization Challenges: While decentralization offers benefits, it can complicate incident response. There’s often no central authority to freeze assets or patch a vulnerability quickly across all instances. High Value Targets: The large amounts of capital locked in DeFi protocols and the pseudonymous nature of transactions make crypto an attractive target for sophisticated cybercriminals. These inherent characteristics make achieving robust blockchain security a continuous and demanding effort. What Can We Learn from These Crypto Security Failures? Every exploit, including the significant crypto losses in May 2025, offers valuable lessons for the entire industry. For developers and protocol teams, the key takeaways include: Prioritize Audits: Regular, independent security audits by reputable firms are non-negotiable. Protocols should undergo multiple audits, especially after significant code changes. Implement Bug Bounties: Incentivizing white-hat hackers to find vulnerabilities before malicious actors do is a proven method to enhance security. Thorough Testing: Protocols must be subjected to extensive testing, including unit tests, integration tests, and fuzz testing, to identify potential edge cases and vulnerabilities. Formal Verification: For critical components, employing formal verification methods can help mathematically prove the correctness of smart contract code, reducing the risk of logic errors. Continuous Monitoring: Security is not a one-time check. Protocols need continuous monitoring for suspicious activity and potential exploits in real-time. Plan for Incidents: Having a clear incident response plan in place can help mitigate damage if an exploit occurs. These measures are crucial steps towards improving overall crypto security and preventing future large-scale incidents. Protecting Yourself: Actionable Crypto Security Tips While protocol-level security is paramount, individual users also play a critical role in safeguarding their assets. The events of May 2025 serve as a reminder for everyone in the crypto space to be vigilant. Here are some actionable crypto security tips for users: Use Hardware Wallets: For storing significant amounts of crypto, hardware wallets (cold storage) offer the best protection against online threats. Be Cautious with Smart Contracts: Understand the risks associated with interacting with new or unaudited smart contracts. Always double-check the contract address and permissions requested. Research Protocols Thoroughly: Before depositing funds into a DeFi protocol or investing in a new token, research its team, technology, and security audits. Beware of Phishing Scams: Be extremely wary of unsolicited messages, emails, or websites asking for your private keys or seed phrase. Legitimate services will never ask for this information. Enable Two-Factor Authentication (2FA): Use 2FA on all exchanges and platforms that support it. Stay Informed: Follow reputable security researchers and news sources to stay aware of the latest threats and vulnerabilities. Understand the Risks: Recognize that participating in the crypto space, especially DeFi, involves inherent risks, including the possibility of smart contract exploits and hacks. Only invest what you can afford to lose. Adopting these practices can significantly reduce your personal exposure to crypto hacks and other security threats. The Future of Blockchain Security and DeFi Exploits The ongoing battle against DeFi exploits and the broader challenge of enhancing blockchain security are central to the future growth and adoption of the crypto industry. As the technology evolves, so too do the methods employed by attackers. This necessitates a continuous cycle of innovation in security measures. Efforts are underway across the industry to improve security standards. These include advancements in smart contract auditing tools, the development of more secure programming languages for blockchain, and collaborative initiatives to share threat intelligence. However, the decentralized nature of the space means that security standards can vary widely between projects. Regulatory bodies are also beginning to focus more on crypto security, which may lead to stricter requirements for exchanges and protocols in the future. While regulation can be controversial, it could potentially raise the baseline level of security across the ecosystem. Ultimately, mitigating crypto losses from hacks requires a multi-pronged approach involving developers building more secure protocols, security firms providing essential services, and users practicing diligent security habits. Conclusion: A Call for Heightened Vigilance The $244.1 million in crypto losses during May 2025, spearheaded by the massive Cetus exploit, serves as a critical reminder that security remains one of the most pressing challenges in the cryptocurrency space. While the technology holds immense promise, the risk of crypto hacks and DeFi exploits is ever-present. These incidents are not just numbers; they represent real financial losses for individuals and projects. They underscore the vital importance of robust blockchain security measures at every level – from the underlying protocol code to the individual user’s wallet security practices. Moving forward, the industry must continue to invest heavily in security research, auditing, and education. Users must remain vigilant, exercising caution and adopting best practices to protect their digital assets. Only through a collective commitment to security can the crypto ecosystem hope to build a safer and more sustainable future, reducing the frequency and impact of devastating crypto losses . To learn more about the latest crypto security trends, explore our article on key developments shaping blockchain security measures . This post Crypto Hacks: Alarming $244 Million Losses Rock Blockchain Security in May 2025 first appeared on BitcoinWorld and is written by Editorial Team

2 Jun 2025, 10:14

UNI Battles $6 Support as Tariff Fears and Rate Jitters Rattle Crypto Sentiment

The cryptocurrency market continues to feel the effects of global economic tensions, with investor sentiment swaying under the weight of rising geopolitical risks and trade uncertainty. Uniswap’s UNI token saw a sharp intraday swing between $6.045 and $6.385 before stabilizing above $6.11, signaling cautious buyer support, according to CoinDesk Research's technical analysis data model. Although UNI briefly rebounded after early losses, analysts warn that macroeconomic headwinds — including tariff escalations and delayed monetary easing — may cap near-term gains even as key technical levels hold for now. Technical Analysis Highlights UNI experienced significant volatility over 24 hours, with prices peaking at $6.385 before declining sharply to a low of $6.045, representing a 5.33% range. A notable resistance zone formed around $6.30–6.38, with high-volume selling emerging at these levels, particularly during the 23:00 hour. Support was established at the $6.05–6.08 range, where buyers stepped in during early hours of June 2. A declining volume profile and failure to reclaim earlier highs suggest bearish momentum may continue in the short term. In the final hour of the analysis window, UNI showed a recovery pattern, climbing from $6.146 to $6.176 for a 0.48% gain. Strong support held at $6.148–6.152 during a brief sell-off at 07:35, reinforcing that zone as a key short-term floor. Volume analysis shows renewed buying interest during the 08:00 candle, where price surged to $6.176 on above-average volume. UNI is currently hovering near the $6.12–$6.18 resistance band; a clear breakout above this level remains key for confirming any potential bullish reversal.

2 Jun 2025, 09:35

U.S Dollar to Slide Further This Summer, Bank of America Warns

Bank of America has warned that the U.S. dollar could be in for a rough summer, having already dropped sharply this year. The dollar index, which tracks the value of the U.S. dollar against major currencies, has dropped nearly 9% to 99.74 this year, as President Donald Trump's tariff war triggered a shift away from U.S. assets . Bank of America expects continued data-driven drubbing over the Summer. Weakness in the U.S. dollar is widely seen as positive for dollar-denominated assets, such as gold and bitcoin BTC. The global FX research team led by Athanasios Vamvakidis stated in a report to clients Friday that tariffs are more detrimental to the U.S. economy as the country trades more with the rest of the world than perhaps any other nation. The report acknowledged recent resilience in the U.S. economy and growth-supportive developments, such as President Donald Trump's tax cuts and the abandonment of extreme fiscal spending cuts, but stated that "negatives dominate." "Policy uncertainty on multiple fronts remains. Companies may pause hiring and investment plans until there is greater clarity. In most scenarios, we see tariffs much higher than the starting point, with current levels being the minimum," the report said. It added that the market is reacting negatively to the loosening of fiscal policy at a time when debt levels are at record highs, leading to higher borrowing costs. Meanwhile, the Federal Reserve is unable to take significant action due to rising inflation expectations. "Migration flows have collapsed. Demand increased in Q1 [front running] ahead of tariffs but may be about to fall," strategists noted, pointing to weakness in high-frequency indicators such as the ISM data and weekly Dallas Fed economic index. The weekly Dallas Fed economic index has resumed the downtrend following the brief spike in early April and hit the lowest since December, according to data source TradingView. "Such high-frequency indicators tend to be very noisy but could still point to a slowdown of the economy in the coming months," strategists said.

2 Jun 2025, 09:23

Here’s What Happens When Ripple Sells XRP Over-the-Counter

In a recent thread on X, XRP enthusiast JDNomax (@JDNomax) addressed long-standing confusion surrounding Ripple’s sale of XRP through Over-The-Counter (OTC) deals. The thread offers a concise explanation of what these sales involved, why Ripple used them, and how their impact on XRP’s price and adoption has often been misunderstood. This information comes at a crucial time, as Hidden Road, a primo brokerage firm that Ripple recently acquired , has launched OTC crypto swaps for institutions, and many believe quiet accumulation is now possible for these institutions. According to JDNomax, OTC sales are a strategic mechanism that allowed Ripple to place XRP into institutional hands without disrupting public markets. He explained that OTC transactions were private agreements made directly between Ripple and institutional partners. These transactions avoided public exchanges, allowing Ripple to distribute large amounts of XRP without affecting its market price. This approach served three primary goals: promoting real-world utility , preserving price stability, and enabling targeted distribution to institutions actively integrating XRP into financial infrastructure. Ripple’s Escrow Releases and Strategic Distribution JDNomax also drew attention to Ripple’s escrow system. Each month, the company unlocks 1 billion XRP . He clarified that the company sells only a portion of it, typically via OTC agreements, with the rest returned to escrow. Importantly, he emphasized that the buyers of XRP in these transactions are not speculators but partners who use the asset for On-Demand Liquidity (ODL), custody solutions, and cross-border payments, integrating the digital asset into financial flows. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 JDNomax also noted that OTC sales do not affect prices in the same way as public exchange activity would. He clarified that the transactions are pre-negotiated and do not hit public order books. This separation from market-facing platforms meant less volatility and greater price stability. However, the longer-term effect of these sales is more impactful than often understood, as the tokens distributed through OTC deals are effectively removed from open circulation. A Potential Return to OTC Sales JDNomax also highlighted a critical shift in Ripple’s distribution model. While OTC sales were once a defining feature of Ripple’s approach, he noted that the company stopped OTC sales in 2023. XRP distribution is now solely tied to ODL transactions, meaning the asset is deployed directly in real-time liquidity corridors to support cross-border settlements. However, with Hidden Road’s recent launch of OTC swaps, OTC sales might become a crucial part of the ecosystem once again. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Here’s What Happens When Ripple Sells XRP Over-the-Counter appeared first on Times Tabloid .