News linked to both this project and an event.
According to The Block, Grinex—a Russia-linked cryptocurrency exchange—suspended withdrawals and trading on Thursday after suffering a hack reportedly worth approximately $15 million. Blockchain analytics firm Elliptic stated that the stolen funds consisted of USDT, which were subsequently moved across the Tron and Ethereum networks and swapped for TRX and ETH to reduce the risk of being frozen by Tether. Grinex said its wallet infrastructure was hit by a “large-scale cyberattack,” resulting in losses exceeding 1 billion rubles—approximately $13.1 million. Reports indicate Grinex is widely regarded as one of the successor platforms to sanctioned exchange Garantex, which U.S. authorities targeted last year for facilitating hundreds of millions of dollars in illicit fund flows.
According to The Block, Bitwise analysts noted that since the U.S.-Israeli airstrikes on Iran on February 28, Bitcoin’s price has risen 12%, significantly outperforming gold (down 10%) and the S&P 500 Index (down 1%) over the same period. Bitwise views Bitcoin as a “dual bet”: challenging gold’s dominance in the global store-of-value market while also emerging as a potential medium for international trade settlement. The analysis suggests that fragmentation of the global financial system—and the weaponization of financial infrastructure—are driving nations to explore non-sovereign, decentralized assets. Recently, Iran’s willingness to accept Bitcoin for payments related to oil shipments further reinforces this trend. Bitwise states that geopolitical turmoil and instability within the global financial system will enhance Bitcoin’s safe-haven attributes, with its future price potentially benchmarked at $1 million.
According to The Block, U.S. musician Garrett Dutton (stage name G. Love) lost 5.9 BTC—worth approximately $420,000—after downloading and using a counterfeit Ledger wallet app from the App Store and entering his recovery phrase. On-chain analyst ZachXBT discovered that the attacker laundered the stolen Bitcoin via the KuCoin platform. This incident once again exposes the security risks posed by fake wallet apps, reminding users to exercise heightened caution when downloading and using cryptocurrency-related applications, and to avoid entering sensitive information through unofficial channels.
According to The Block, Bitcoin continued its high-range consolidation this week, holding above $72,000, influenced by developments in the Middle East and U.S. CPI inflation data. Spot Bitcoin ETFs recorded $358 million in net inflows on April 9, while Ethereum funds attracted approximately $85 million in new capital. Analysts noted that although the Middle East ceasefire has reduced risk premiums, markets have yet to return to normal, with oil prices, interest rates, and crypto assets remaining tightly correlated. March’s CPI rose 3.3% year-on-year—slightly below expectations—with rising energy costs serving as the primary driver. Institutional investors remain cautious toward risk, and options markets suggest volatility may subside over the summer. Bitcoin’s current price action is driven by macroeconomic and geopolitical factors, and traders are awaiting further data to assess its next directional move.
According to The Block, Michael Saylor, Executive Chairman of Strategy, stated that Bitcoin may have already bottomed near $60,000, as forced sellers have gradually exited the market. Saylor also expressed skepticism regarding the security threat posed by quantum computing, describing the associated risks as still “theoretical” at present and believing the issue can be adequately addressed in the future—thus warranting no excessive concern.