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4E: "Tariff Delay" Fake News Triggers Wild Fluctuations in US Stocks, Nasdaq Closes Higher, Crypto Market Bounces Back

ChainCatcher news reports that according to 4E monitoring, U.S. stocks opened sharply lower on Monday. During the day, influenced by false news about "tariff delays," the indices fluctuated widely, with the Nasdaq experiencing a maximum amplitude of nearly 10%. U.S. stocks briefly turned positive, but fell again after the news was debunked. Before the market closed, Trump stated that he was not considering suspending the tariff increases and mentioned that multiple countries were coming to negotiate with the U.S. By the close, the three major indices showed mixed results: the Dow fell by 0.91%; the S&P 500 dropped by 0.23%; the Nasdaq narrowly rose by 0.10%, ending a two-day decline. The index of the seven major U.S. tech stocks rose by about 0.2%.The cryptocurrency market rebounded, with Bitcoin leading the decline in the Asian session yesterday, hitting a low of $74,508. In the evening, rumors of a "90-day tariff delay" drove BTC to rapidly break through $81,000, but it fell back after the news was debunked. As of the deadline, Bitcoin was fluctuating above $80,000, up 2.8% in 24 hours, while other altcoins generally saw significant rebounds. In the midst of the market's violent fluctuations, ETH performed particularly weakly, dropping to $1,411 yesterday, leading in decline and hitting a one-year low in market capitalization share. In the current rebound, its increase is also significantly lagging, deepening market concerns about its long-term competitiveness.In the forex and commodities sector, the U.S. dollar index rose by 0.29%, while recession expectations pushed crude oil to a three-day decline, dropping over 2% and hitting a new low in more than three years. Spot gold fell by 1.76%, showing a trend of rising and then falling throughout the day, mostly in a downward state.Trump's tariff policy has triggered a global chain reaction of countermeasures, causing turmoil in the financial markets. Investors are hoping that the Federal Reserve can step in to stabilize the market, but with current inflation pressures being significant, the likelihood of the Fed intervening urgently in the short term is low unless the market or economy falls into a severe crisis.

Viewpoint: Japan's core inflation higher than expected sparks discussions on interest rate hikes, which may pose a threat to the cryptocurrency market

ChainCatcher news, according to CoinDesk, Japan's latest core inflation data has exceeded market expectations, sparking discussions about the possibility of the Bank of Japan (BOJ) raising interest rates, which could impact risk assets including cryptocurrencies. The data shows that Japan's core CPI rose 3% year-on-year in February, down from 3.2% in January but still above the market expectation of 2.9%. Meanwhile, Japan's overall CPI fell from 4% to 3.7%, but still far exceeds the BOJ's target inflation rate of 2%.Since November 2024, Japan's inflation rate has consistently been higher than that of the United States, currently exceeding by nearly 100 basis points, marking the largest gap since 2015. Coupled with the wage pressure from the "Shunto" spring labor negotiations, market expectations for a BOJ interest rate hike have intensified. The anticipation of a rate hike has strengthened the yen, but if the yen appreciates significantly, it may trigger market risk aversion, thereby putting pressure on risk assets like Bitcoin.As of the time of writing, the USD/JPY exchange rate is 149.22, having rebounded nearly 300 basis points since March 11, indicating a short-term weakening of the yen. However, the yield spread between U.S. and Japanese 10-year government bonds has narrowed, with Japanese 10-year bond yields maintaining above 1.5% and 30-year bond yields breaking 2.5%, both at multi-decade highs, which may support a stronger yen. The market is focused on the future direction of BOJ policy and its impact on global financial markets.

Slow Fog: If Bybit upgrades the Safe contract to version 1.3.0 or higher and implements an appropriate Guard mechanism, it may avoid the theft of 1.5 billion dollars in assets

ChainCatcher message, Slow Mist stated that on February 21, 2025, Bybit's on-chain multi-signature wallet was targeted and breached, with nearly $1.5 billion in assets quietly lost through a transaction with a "legitimate signature." Subsequent on-chain analysis revealed that the attacker gained multi-signature permissions through sophisticated social engineering attacks, implanted malicious logic using the delegatecall function of the Safe contract, and ultimately bypassed the multi-signature verification mechanism to transfer funds to an anonymous address. "Multi-signature" does not equal "absolute security"; even a secure mechanism like the Safe multi-signature wallet can still be at risk of being compromised if lacking additional protective measures.Bybit is using version v1.1.1 (<1.3.0) of the Safe contract, which means they cannot utilize the Guard mechanism, a key security feature. If Bybit had upgraded to version 1.3.0 or higher of the Safe contract and implemented an appropriate Guard mechanism, such as specifying a whitelist address for receiving funds and conducting strict contract function ACL verification, they might have been able to avoid this loss. Although this is merely a hypothesis, it provides important insights for future asset security management.
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