ChainCatcher news, according to DeFi researcher Ignas, the social media application Phaver has ceased operations, and its token price has dropped by 99% since the TGE in September 2024. Phaver team members stated that first, there were technical issues with the TGE and airdrop, which prevented users from claiming their tokens in a timely manner, leading to FUD; second, Phaver incurred over $1 million in fees to launch on 5 CEXs; third, due to a bearish market sentiment, the team did not sell tokens at the TGE, resulting in insufficient operating funds. As a Finnish company, Phaver also needs to pay employees 1 to 2 months of severance pay.Some former team members are developing SocialDAO to seek new use cases for the SOCIAL token.

ChainCatcher news, Treasure DAO's chief contributor John announced that due to deteriorating financial conditions, they are facing a restructuring and will terminate game operations and Treasure Chain. Documents show that their annual operating expenses reach up to $8.3 million, while the current treasury only has $2.4 million left, which is expected to last only until July 2025.Chief contributor John has resumed a leadership role, revealing that the team size once reached 40 people, with an annual labor cost of $6.1 million and infrastructure costs of $3 million, of which the fixed annual cost for Treasure Chain is $450,000. Facing survival pressure, the DAO has laid off 15 people and decided to terminate game publishing support and Treasure Chain, assisting partners in migrating to other chains.To extend the funding runway, John proposed to withdraw the idle $785,000 from the market maker Flowdesk. If approved, the stablecoin balance will increase to $3.2 million, allowing operations to be optimistically extended until February 2026. Additionally, the ecological fund holds 22.3 million MAGIC (valued at $2.3 million), but if the MAGIC price plummets, the DAO may struggle to survive between December this year and February next year.The future strategy will focus on four major products: Market, Bridgeworld, Smolworld, and AI agent expansion technology, aiming to showcase the application potential of MAGIC through Smols and Bridgeworld, and to develop the Neurochimp agent to enhance market competitiveness. Community conference calls and governance proposals are forthcoming, including the retirement of Treasure Chain and adjustments to market positioning, with the goal of reversing the current downturn through streamlined operations.According to the crypto asset data platform RootData, Treasure DAO completed a $3.5 million financing through token sales in 2022, led by Digital Strategies Guild, with participants including 1kx, Neon DAO, ID Theory, Arbitrum, Skycatcher Crypto, IOSG, Alchemy Ventures, IndiGG, StreamingFast, and others.

ChainCatcher news, the NFT trading platform X2Y2 announced on social media that after three years of glory and $5.6 billion in trading volume, X2Y2 will officially close as an NFT marketplace on April 30, 2025.The X2Y2 contract will remain active, but the platform itself will cease operations. The CEO of X2Y2 stated, "NFT trading volume has shrunk by 90% since its peak. The life and death of a market platform depend on network effects, and after three years of striving for the top, it’s time to let go and build something with more lasting value. But this is not a farewell------it’s a transformation. Over the past year, we have deeply explored the field of AI, studying how it intersects with cryptocurrency in powerful new ways.We are building something entirely new: a decentralized way to provide returns, driven by AI. It is decentralized, innovative, and aims to create value in a cyclical manner------not just chasing trends. The X2Y2 token is closely related to our NFT vision, and I won’t sugarcoat the reality------this change may impact its price. But I believe our next chapter will create something that is more valuable in the long run."

ChainCatcher news, according to official sources, the DeFi protocol Linear Finance has announced that it will cease operations. It stated that despite years of commitment to innovation and development, it has failed to achieve sustainable returns. Linear Finance has faced increasing financial pressure, with only a brief period of profitability in early 2019/2020.The project's funding primarily came from personal contributions by the project owners and token liquidation, but this model is no longer viable. Binance's decision to delist the LINA token has exacerbated the project's financial difficulties, leading to a 65% reduction in market capitalization and significantly decreasing the remaining operational funds.As a result, the project's main stakeholders have collectively decided to end operations. The operations team will contact users with active positions as soon as possible and provide a detailed timeline and guidance.

ChainCatcher news, according to official sources, the on-chain firewall project Harpie has announced that it has ceased operations and will no longer provide services.Harpie stated that it was committed to creating a theft-free crypto ecosystem, but unfortunately failed to build a sustainable business model around this goal. In the coming days, Harpie will launch a tool for users to transfer stored assets on the Harpie website. Currently, due to financial difficulties, it has immediately shut down its on-chain firewall business.According to the crypto asset data platform RootData, on-chain firewall provider Harpie completed a $4.5 million seed round financing on September 27, 2022, led by Dragonfly Capital.

ChainCatcher message, GMGN co-founder Haze released a withdrawal security update on the X platform, including:Withdrawal channel adjustment: TG Bot withdrawal entry is closed, only web-based withdrawal operations are supported, and Tron chain withdrawals are open;Whitelist address control: Transfers are only supported to already added and effective whitelist addresses, all withdrawal results and whitelist address updates will be automatically pushed via the Bot upon login;Security upgrade: Adding/editing whitelist addresses requires 2FA verification.

ChainCatcher news, according to on-chain analyst Yu Jin's monitoring, the 1inch team investment fund sold 37.9 WBTC (approximately $3.28 million) at a price of $86,578 in the past hour, and sold 511 ETH (approximately $1.05 million) at a price of $2,072, suspected of conducting a loss-cutting operation.On-chain data shows that the fund purchased WBTC, ETH, and 1INCH for a total of $44.22 million between February 2 and March 10, including:Purchased 11,198 ETH (approximately $28.85 million) at an average price of $2,577;Purchased 160.8 WBTC (approximately $14.21 million) at an average price of $88,395;Purchased 4.7 million 1INCH (approximately $1.15 million) at an average price of $0.245.Currently, all these positions are in a state of unrealized loss.

ChainCatcher news, according to official sources, Astar Network has officially announced that its zkEVM will cease operations on April 1, 2025.Astar Network reminds users to pay attention to asset security and ensure that asset migration is completed before the network shuts down to avoid potential asset loss.

ChainCatcher news, the British Columbia Court of Appeal upheld the provincial government's decision to limit electricity use for Bitcoin mining operations, rejecting the attempts by Bitcoin mining hosting provider Conifex Timber to secure unlimited electricity usage. The court supported BC Hydro, emphasizing its priority to protect public interest, safeguard the province's power supply, and prevent consumer electricity rate increases. Due to concerns about the impact of crypto mining on energy consumption, several provinces in Canada have implemented restrictions.

ChainCatcher news, according to on-chain analyst Yu Jin's monitoring, a whale with 50x leverage on Hyperliquid has closed their position, making a total profit of $80,000 through dual platform and dual line operations.$2.24 million shorted ETH on GMX, quickly closed for a profit of $170,000 after 5 minutes;$2.3 million longed ETH and shorted BTC on Hyperliquid, just closed to withdraw $2.46 million USDC, earning $160,000;$1.5 million longed ETH on GMX, just closed to withdraw $1.24 million, losing $250,000.

ChainCatcher news, Strategy founder and CEO Michael Saylor posted on social media that MSTR's financial operations last week generated a paper gain of approximately 12,520 bitcoins, equivalent to over 1 billion dollars.

ChainCatcher news, the South Korean cryptocurrency exchange Upbit has explained the sanctions imposed by financial authorities, stating that these sanctions were taken based on issues identified during the 2024 Financial Intelligence Unit (FIU) on-site inspection. The specific sanctions include a partial suspension of operations and a ban on new customers transferring virtual assets. Upbit has reviewed the necessary improvement measures and completed the actions taken to respond to the sanctions imposed by the financial authorities. The sanctions implemented may change according to relevant regulatory procedures. If the relevant measures are suspended or become ineffective, new users will be able to use Upbit's services without restrictions.

ChainCatcher message, mETH Protocol released a Bybit security incident update, which disclosed that a security incident occurred at Bybit leading to unauthorized withdrawals of mETH and cmETH from the exchange. This included three transactions through DEX that exchanged 8,000 mETH for ETH, and an attempt to withdraw 15,000 cmETH initiated through mETH Protocol, which was not successfully completed.Mantle or mETH Protocol posed no risk and reduced cmETH liquidity on the Mantle Network L2, and the attacker's wallet address has been blacklisted to prevent further cmETH transfers or interactions within the protocol. Ultimately, no unauthorized cmETH withdrawals occurred, the contract has been restored, and operations have returned to normal.

ChainCatcher news, during the roundtable discussion "Trends and Rhythms of the New Web3 Cycle" hosted by Web3 data company RootData and Chaincatcher on February 19, UFLY Labs investment partner Neal shared his forward-looking insights and investment strategies regarding industry trends.Neal stated that AI technology is reshaping the logic of global productivity, and UFLY Labs has deeply integrated AI into the entire process of investment decision-making and team collaboration. "We require members to use tools like DeepSeek and OpenAI to optimize their work, and we even set a threshold of 'more than 50 hours of AI usage' during the interview process." He emphasized that AI is not only an efficiency tool but also a core criterion for screening "future-oriented talent." Only teams that actively embrace technological change can seize opportunities in the new Web3 cycle.In addition, UFLY Labs announced that it will officially start operations in February 2025, focusing on AI, PayFi, and the real demand track of Web3. UFLY Labs has also chosen to launch a special fund during market fluctuations, creating a unique "capital + growth + ecosystem" support system.It is reported that among the more than 10 projects invested by UFLY Labs during its cold start period in the fourth quarter of 2024, 50% have completed listings on leading exchanges, with several projects landing on platforms such as Binance, Upbit, OKX, and Bybit.

ChainCatcher news, according to Fox News reporter Eleanor Terrett, informed sources revealed that the U.S. Securities and Exchange Commission (SEC) is currently showing "heightened interest" in cryptocurrency staking operations and has sought detailed explanations from industry insiders regarding different types of staking and their advantages. Last week, SEC trading and markets personnel participated in a webinar focused on staking.At the same time, the SEC has confirmed receipt of the 19b-4 filing submitted by the Chicago Board Options Exchange (Cboe), which requests the inclusion of staking functionality in the 21Shares Core Ethereum ETF. Sources expect that the SEC will issue guidance related to staking in the near future.

ChainCatcher news, the Bitcoin network Rune DEX platform OdinSwap and the Rune launch platform Valhalla have announced that they will gradually cease operations, and all user funds are safe.OdinSwap and Valhalla will continue to operate until February 28, 2025. Users are advised to withdraw their funds before February 28. After February 28, any unclaimed balances will be refunded manually, but appropriate BTC network fees will apply. Refunds will be processed manually and may take up to a month to complete. Refunds will only be issued for balances exceeding the network fees.During this transition period, OdinSwap is open to strategic cooperation/partnerships and welcomes potential partners interested in integrating with the platform to reach out.

ChainCatcher news, according to Zhu Su, co-founder of Three Arrows Capital, stated that "blaming the Libra incident on Solana or the Jupiter platform is as unreasonable as blaming decentralized finance (DeFi) hacking incidents or NFT issues on Ethereum or Uniswap."Zhu Su pointed out that the main mistake of the Libra team was withdrawing from the Meteora liquidity pool and engaging in short-term arbitrage operations; otherwise, it would be similar to the operation of Trump tokens.