Your Weekend Crypto Roundup | March 2025 (Week 2)

Hello there

And just like that, the second week of March comes to an end.

The crypto market remains as unpredictable as ever, with Bitcoin facing sharp swings and the broader industry seeing both innovation and major security threats. From North Korea’s Lazarus Group ramping up attacks to regulatory shifts shaping the future of digital assets, there’s plenty to unpack this week.

Biggest Story

North Korean Hacking Group Lazarus Escalates Crypto Industry Attacks

The infamous North Korean-backed hacking group Lazarus has intensified its cyberattacks on the cryptocurrency industry. Beyond their established practice of laundering stolen cryptocurrency through mixers, the group is now deploying new malware targeting developer environments.

The hacking group is known to employ sophisticated tactics such as typosquatting and supply chain attacks, creating convincing imitations of legitimate software to deceive developers. Cybersecurity researchers at Socket have discovered six malicious npm packages, including BeaverTail malware. These packages are specifically designed to steal credentials and extract cryptocurrency data from Solana and Exodus wallets. 

The group has been connected to several major exchange breaches, including the $1.4 billion Bybit hack in February and the $29 million Phemex exploit in January. On March 13, blockchain security firm CertiK identified a 400 ETH deposit (approximately $750,000) into Tornado Cash, which they linked to Lazarus’ ongoing illicit operations. 

Other News Making Waves

• A compromised version of the Chrome extension SwitchyOmega has been stealing private keys from 500,000+ users traced back to a phishing attack targeting Cyberhaven. (More)
• Ripple secures its first Middle Eastern license from Dubai’s DFSA, allowing the company to offer compliant crypto payments in the UAE. (More)
• Meteora co-founder Ben Chow’s hacked X account sparks new controversy over Solana memecoins, with allegations, leaked messages, and political fallout. (More)
• California authorities shut down 26 fraudulent crypto websites and uncovered $4.6 million in consumer losses using the state’s Crypto Scam Tracker. (More)
• Coinbase resumes operations in India after securing registration with the country’s Financial Intelligence Unit. Its initial focus would be on retail crypto trading. (More)
• The SEC acknowledges Nasdaq’s proposal to list shares of the Grayscale Hedera (HBAR) Trust (More)
• EU finance officials warn that Trump’s crypto-friendly stance, particularly on dollar-backed stablecoins, could threaten Europe’s financial stability and monetary sovereignty. (More)
• Mark Carney, former Bank of England governor and Bitcoin critic elected Canada’s new prime minister, pledging to counter U.S. tariffs under Trump. (More)
• The U.S. Strategic Bitcoin Reserve, funded through seized assets, fails to spark a market rally as investor sentiment remains cautious. (More)
• Binance updates collateral ratios for several assets and takes action against a market maker involved in misconduct, planning compensation for affected users. (More)
• CertiK identified a $140,000 security breach on the Arbitrum network, where an attacker exploited a signature verification vulnerability to drain funds. (More)

Around the World: Bold Moves and Crypto Regulations

• Turkey’s Capital Markets Board enforces stricter crypto regulations, mandating detailed reporting, banning social media transactions, and imposing severe penalties for non-compliance. (More)
• Stablecoin adoption surges in Latin America, with USDT and USDC comprising 39% of Bitso transactions as users seek stability amid inflation while Bitcoin trading declines. (More)
• Russia’s Ministry of Finance pushes for crypto legalization, collaborating with the central bank to establish a national framework, though domestic payments remain restricted. (More)
• The Cayman Islands introduces new licensing rules for crypto firms, requiring exchanges and custodians to secure approval from CIMA or face non-compliance penalties. (More)
• South Korea’s FSC will introduce a phased regulatory framework for institutional crypto investments starting in April, focusing on stablecoins and tokenized securities (More) 
• The U.S. House of Representatives voted 292-132 to repeal the IRS rule requiring DeFi platforms to report transactions, citing privacy concerns and regulatory overreach (More) 
• South Korea will launch a real-world CBDC trial in March with 100,000 consumers and seven banks, allowing digital payments at major retailers and service providers (More) 
• The SEC is reconsidering a controversial rule that expanded the definition of exchanges to crypto firms, with Acting Chair Mark Uyeda calling for its revision (More) 
• Senator Bill Hagerty introduced an updated GENIUS Act to tighten regulations on stablecoin issuers, potentially favouring U.S.-based firms over foreign competitors (More) 
• Texas lawmakers introduced a second Bitcoin reserve bill to authorize a $250M investment in BTC, allowing municipalities limited crypto holdings (More) 
• Japan’s Cabinet approved amendments to the Payment Services Act, easing entry for crypto firms and expanding collateral options for stablecoins (More)

Market Trends: Winners and Losers

Top 5 Gainers 📈

According to data from CoinGecko, these are the five biggest gainers of the week:

• Saros +134%, from $0.01502997 to $0.03510953
• T-mac DAO +86%, from $9.52 to $17.70
• Bounce +117%, from $11.73 to $25.49
• SuperRare +86%, from $0.050778 to $0.094624
• Pwease +176%, from $0.01646628 to $0.04542736

Top 5 Losers 📉

According to data from CoinGecko, the five biggest losers of the week are:

• ROAM Token -67%, from $0.385947 to $0.125457
• Finvesta -45%, from $75.06 to $41.56
• VON -69%, from $0.00037411 to $0.00011433
• AI Rig Complex -55%, from $0.163213 to $0.073378
• MEOW -38%, from $0.00379783 to $0.00233834

Project Spotlight

Starknet’s Plan to Scale Bitcoin

ICYMI, the Starknet Foundation has unveiled a roadmap to scale Bitcoin from 13 transactions per second to thousands, enhancing its DeFi potential.

To achieve this, Starknet supports OP_CAT, a proposed Bitcoin upgrade enabling programmable BTC spending through zero-knowledge proofs. Until OP_CAT is implemented, Starknet will use BitVM, allowing Bitcoin to execute smart contract logic without altering its base layer.

Additionally, BTCFi Season, a Starknet initiative, aims to expand Bitcoin’s financial use cases. Ethereum co-founder Vitalik Buterin has endorsed secure Bitcoin Layer 2 solutions, emphasizing their role in making crypto payments efficient again.

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. 

If you want to read more market analyses like this one, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.