Hi there!
We’re only a few days into April, and the drama is already peaking. From hackers losing stolen ETH to phishing scams (karma, maybe?) to founders bargaining with exploiters just to keep their DeFi dreams alive—it’s been a wild ride. Meanwhile, adoption is growing, regulators are stirring, and big names like BlackRock and Trump are making crypto moves.
As usual, here is a roundup of the stories that shook the blockchain world this past week.
Enjoy!
Biggest Story
DeFi Still Under Fire: zkLend and SIR.trading Hit Hard by Exploits
DeFi protocols zkLend and SIR.trading have recently suffered major setbacks following targeted exploits that highlight the sector’s persistent vulnerability to attacks.
zkLend lost $9.6 million in a flash loan attack. In an unusual twist, the hacker later admitted—via an on-chain message—to accidentally sending most of the stolen ETH to a phishing site mimicking Tornado Cash. The attacker expressed regret and urged zkLend to pursue the scammers instead. Despite offering a 10% white-hat bounty and a $500,000 reward for information leading to an arrest, most of the stolen funds remain unrecovered.
SIR.trading, a protocol designed for safer leveraged trading, was exploited for $355,000 due to a vulnerability introduced by Ethereum’s recent Dencun upgrade. The founder, Xatarrer, appealed directly to the attacker, offering $100,000 as a “fair share” if the remaining funds were returned. Built with community support and no VC funding, the platform’s survival now hangs in the balance.
These incidents come amid a broader uptick in DeFi exploits. According to CertiK, nearly $29 million was lost to attacks in March alone—underscoring the urgent need for stronger security practices across the space.
Other News Making Waves
- The U.S. SEC and Gemini request a 60-day pause in their lawsuit over the Gemini Earn program, hinting at a potential settlement. (More)
- Scroll co-founder Ye Zhang slams Ethereum rollup fee proposals, calling them a threat to long-term growth. He warns that taxing rollups could push them to alternative solutions, weakening Ethereum’s influence. (More)
- GOP’s push for crypto-friendly laws gained momentum as two crypto-backed Republicans won seats in Florida’s House of Reps. (More)
- North Korean-linked “tech workers” are now trying to get into blockchain companies not just in the U.S. but also in the U.K. and Europe (More)
- 9GAG’s co-founder acquires a Hong Kong firm to invest in Bitcoin, AI, and Web3, renaming it MemeStrategy. (More)
- BlackRock secures FCA approval to launch a Bitcoin ETP in the UK (More)
- Darknet marketplaces saw revenue surpass $1.7 billion in 2024, with Russian-language platforms dominating 97% of the crypto drug trade. (More)
- Losses from crypto-related hacks and scams dropped to $28.8M in March, a sharp decline from February’s $1.5B, mainly due to the Bybit hack. (More)
- Trump family acquires 60% stake in World Liberty Financial in new leadership and ownership structure changes (More)
Around the World: Bold Moves and Crypto Regulations
- The U.S. House Financial Services Committee advance the STABLE Act, aiming to regulate stablecoins like USDT and USDC, with a 32-17 vote. (More)
- The U.S. Treasury sanctioned crypto wallets tied to Yemen’s Houthi movement, citing $1B in illicit transactions funding arms procurement. (More)
- South Korea plans to open its crypto market to international investors, revising AML rules to attract foreign participation in local exchanges. (More)
- South Korea’s 7-Eleven stores have begun accepting CBDC payments in a nationwide pilot, running until June. Customers using the digital currency get a 10% discount as the country explores a future digital monetary system. (More)
- Russia postpones the digital ruble launch to mid-2026, citing technical and regulatory challenges despite progress in pilot transactions. (More)
- Senator Ted Cruz introduced the FLARE Act, proposing tax incentives for Bitcoin miners who use flared natural gas to power operations. (More)
- UK trade groups urge Prime Minister Keir Starmer’s government to appoint a crypto envoy and implement a national blockchain strategy. (More)
- AUSTRAC flags crypto ATMs as high-risk for money laundering and fraud, expanding enforcement actions against non-compliant operators. (More)
Market Trends: Winners and Losers
Top 5 Gainers 📈
According to data from CoinGecko, these are the five biggest gainers of the week:
- Saros +80.2%, from $0.056038 to $0.100972
- FUNToken +61.9%, from $0.00238937 to $0.00386949
- ONFA +43.2%, from $0.145549 to $0.208357
- Vine +57.9%, from $0.02603507 to $0.04110544
- EOS +37.5%, from $0.581289 to $0.799362
Top 5 Losers 📉
According to data from CoinGecko, the five biggest losers of the week are:
- Act I The AI Prophecy -72.7%, from $0.192176 to $0.052403
- Mubarak -61.2%, from $0.105263 to $0.04080879
- VeBetterDAO -39.8%, from $0.211485 to $0.127372
- Doginme -47.3%, from $0.00115071 to $0.00060626
- Mask Network -45.2%, from $2.21 to $1.21
Project Spotlight
Shardeum Gears Up for Mainnet Launch, Promises Scalable and Accessible Blockchain
Shardeum, the world’s first Ethereum Virtual Machine (EVM)-based autoscaling Layer 1 blockchain, will launch its mainnet on April 15, 2025. Powered by Dynamic State Sharding, the network can scale transaction throughput automatically as more validators join. With over 171,000 validators and 81M+ testnet transactions, Shardeum aims to solve blockchain’s scalability trilemma without sacrificing decentralization or security.
Why It Matters
Shardeum’s approach could redefine blockchain infrastructure by making scalability native and validator participation accessible. Its lightweight hardware requirements and decentralized design may help onboard emerging markets and support global Web3 growth.
Disclaimer: This article is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence.
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