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.

ChainCatcher message, official announcement, Binance will support the renaming of BinaryX (BNX) token to Four (FORM) and conduct a token swap. Binance will remove all existing BNX spot trading pairs, including BNX/USDC, BNX/USDT, and BNX/TRY, at 03:00 (UTC) on March 18, 2025, and cancel all open BNX spot trading orders.The token swap ratio is 1 BNX = 1 FORM. Binance will suspend deposits and withdrawals of BNX tokens at 03:30 (UTC) on March 18, 2025. Users need to ensure that they complete the deposit processing of BNX tokens before this time. Deposits of FORM tokens will open at 12:00 (UTC) on March 21, 2025, and on the same day at 13:00 (UTC), Binance will open FORM/USDC, FORM/USDT, and FORM/TRY trading pairs. After the token swap is completed, Binance will no longer support deposits and withdrawals of BNX tokens.

ChainCatcher message, Chainflip officially announced that after discussions with the team, community, liquidity providers, major interfaces using Chainflip, and most validator providers, it has been decided to implement a protocol upgrade to prevent the illegal flow of Bybit hacker funds within the protocol.Chainflip stated that most of the code has been completed and needs to be tested and deployed to the network, with the upgraded version expected to go live within 24-72 hours.

ChainCatcher news, according to official Aave announcements, the Aave v3.3 version upgrade developed by BGD Labs has officially launched. This upgrade mainly optimizes the bad debt handling and liquidation mechanism, paving the way for the upcoming Umbrella security system.The Umbrella system will replace the existing Safety Module, introducing an automated mechanism that allows users to stake aTokens to earn rewards while absorbing protocol bad debts without the need for governance voting intervention. This system is only open to users without borrowing positions, aiming to enhance the protocol's security, especially to better protect user assets from the impact of bad debts during market volatility.

ChainCatcher news, according to CoinDesk, the Ethereum Pectra upgrade was activated at 5:55 on the Holesky testnet, but according to blockchain data, it was initially not finalized. Finalization refers to the state where once a transaction is confirmed and added to a block, it becomes immutable and irreversible. It is currently unclear why the testnet failed to finalize. Ethereum developers are investigating.This is not the first time an upgrade has not been completed on a testnet; previously, in January 2024, when developers were testing the Dencun upgrade, the hard fork was initially not completed on the Goerli testnet.

ChainCatcher message, according to Infini founder Christian's post on X, "Of the 50 million dollars stolen, seventy percent belongs to large friends I know personally. I have already communicated with each of them and will personally bear the possible losses and settle privately. The remaining funds will be reinvested into the infini vault before next Monday, and everything will continue as usual. The funds are ready, and I will respond to any withdrawal requests in the meantime, so please rest assured.I apologize for the need for some time to upgrade and restart the business; everything will proceed under the premise of ensuring the absolute safety of the funds."

ChainCatcher news, according to the official announcement, Bithumb has announced that it will conduct internal system upgrades from February 24, 2025, 01:00 to 07:00 (Korean time), during which all Bithumb services (Bithumb APP / mobile web / PC / API) will be suspended. The service maintenance time may end earlier or be delayed.To protect customers with open orders, orders may be canceled, so please cancel buy/sell orders as much as possible before the service check.

ChainCatcher message, the planned network upgrade for Axelar has been successfully completed. The Axelar network, Satellite, cross-chain token services, relay services, token transfers, and general messaging have been restored online.The Gas fees for Axelar network transfers (AXL tokens) are now sent to the burn address, instead of being allocated to token holders.

ChainCatcher news, according to The Block, derivative data shows that investor optimism is heating up again, with traders preparing for a rebound in ETH prices ahead of the April Pectra upgrade, while Solana faces downward price pressure.Nick Forster, founder of Derive.xyz, stated that the seven-day implied volatility (IV) for ETH is 66% (comparable to the six-month IV), while Bitcoin's IV is significantly lower. He expects a 30% chance that Ethereum's price will break $3,000 by the end of this quarter, up from 28% last week.

ChainCatcher news: At the Telegram Growth Hub DemoDay, MetYa COO and co-founder Christy detailed MetYa's latest developments and future plans within the TON ecosystem.She stated that MetYa plans to deepen its development in the TON ecosystem. In addition to optimizing the Mini App experience and pushing the user base to exceed 10 million, it will further integrate DEX, payment systems, and infrastructure on the TON chain to enhance the smoothness and scalability of Web3 social products. In the future, MetYa will also introduce decentralized identity (DID) and social asset evaluation systems within the TON ecosystem to achieve verifiability of on-chain data and confirmation of user assets, empowering Web3 social interactions.In terms of AI, MetYa is developing AI Agent technology, which aims to improve intelligent matching efficiency and plans to launch features such as AI companionship and AI dating assistants to help users socialize across languages and cultures. At the same time, MetYa is exploring AI-generated content (AIGC) to provide users with personalized virtual social experiences, combined with the NFT system of the TON ecosystem.In the future, MetYa will strengthen cooperation within the TON ecosystem, planning to integrate payment solutions from the TON ecosystem to achieve seamless transactions of TON and MET. Additionally, MetYa will promote more SocialFi features, such as incentive mechanisms based on social influence and community governance, allowing users to create and gain more economic benefits through social interactions.Christy emphasized that MetYa's goal is to build a truly decentralized Web3 social network, enabling users to control data security while also gaining value returns through social interactions.

ChainCatcher message, Binance is expected to suspend token deposits and withdrawals for Enjin Coin (ENJ) on February 24, 2025, at 23:00 (UTC+8) to support its network upgrade.The project team will upgrade the network at block height 9,098,986 (expected to take place on February 25, 2025, at 00:00 (UTC+8)).

ChainCatcher news, QCP Capital's latest analysis points out that the term structure of the Ethereum options market has shown a significant distortion around the March expiration date, which may be related to the anticipated Pectra upgrade set to launch in early April.Looking back at history, the September 2022 merge upgrade followed the "buy the rumor, sell the news" pattern, with ETH surging before the upgrade and then retreating; while the initial performance of the Shanghai upgrade in April 2023 was pessimistic due to supply concerns, ETH rose 30% after selling pressure did not materialize. The current market may be positioning for the Pectra upgrade, with options volatility leaning bullish after March 28, indicating potential upward expectations.However, the weakness in the altcoin market poses a restraining factor, with the LIBRA collapse, SOL and ETH retreating to pre-election levels, and Bitcoin's market cap nearing historical highs. The continued recovery of altcoins relies on substantial progress in real applications and network development, rather than just speculative funding.

ChainCatcher news, QCP Capital's latest analysis points out that the term structure of the options market has shown a significant distortion around the March expiration date, particularly in Ethereum options. This may reflect the market's positioning for the Ethereum Pectra upgrade, which is currently in the testing phase and expected to go live in early April.Looking back at past upgrades, the September 2022 merge upgrade followed the typical "buy the rumor, sell the news" pattern—ETH fell back after rising over 100% from the June low post-upgrade. In contrast, the Shanghai upgrade in April 2023, which enabled staking withdrawals, faced pessimism due to market concerns about oversupply. However, once the market realized that the selling pressure did not materialize as expected, ETH rose by 30% in the following months.As expectations for the upgrade heat up, traders may be positioning for another volatility event, with options volatility skewed towards call options after March 28—this could lay the groundwork for the next thematic play in the crypto market following the Trump tariff turmoil.One dampening factor is the general weakness in the altcoin market—LIBRA's collapse, SOL and ETH retreating to pre-election levels, and Bitcoin's market cap share nearing historical highs. Beyond market catalysts, altcoins may need to achieve substantial progress in real-world applications and network development to sustain a recovery, rather than relying solely on speculative capital flows.

ChainCatcher news, according to The Block, the Ethereum official execution client Geth (go-ethereum) development team issued an emergency announcement on February 18, requiring validators using version v1.15.1 to upgrade immediately to version v1.15.2. This update aims to prevent network stability issues and interruptions in validator operations.The development team pointed out that version v1.15.1 has a regression issue that may cause block creation failures on the Ethereum mainnet, leading validators to miss block production opportunities, resulting in the loss of block rewards and transaction fees.It is reported that Geth is the most widely used execution layer client for Ethereum, with over 40% of validators using this software. This update follows a previous patch that fixed a vulnerability that could lead to denial-of-service attacks on nodes.

ChainCatcher news, according to the official announcement, Binance is expected to suspend token deposits and withdrawals for the Rootstock (RIF) network on March 12, 2025, at 19:00 (UTC+8) to support its network upgrade and hard fork.The project team will perform the network upgrade and hard fork at block height 7,338,024 (expected on March 12, 2025, at 20:00 UTC+8).

ChainCatcher news, according to the official announcement, Binance has announced an upgrade to its token information disclosure mechanism, incorporating the token unlocking schedule to provide a more transparent and comprehensive view of market capitalization and circulating supply. In this update, Binance introduced two dimensions: market capitalization and unlocked market capitalization, to better reflect the financial situation of assets, while also distinguishing between circulating supply and unlocked circulating supply.Under the new method, market capitalization will be calculated by multiplying the circulating supply (including unlocked tokens) by the current price; if unlocking data cannot be obtained, non-publicly accessible tokens will not be counted. Users can view the details of each project's token unlocking schedule in the project overview section on the Binance website and app.

ChainCatcher message, the Ethereum Foundation's official blog announced that the Pectra network upgrade plan will launch on the Ethereum testnet. It will go live on Holesky at epoch 115968 (Beijing time February 25, 05:55), and then on Sepolia at epoch 222464 (Beijing time March 5, 15:29).The Pectra testnet client versions are listed below. After both testnets successfully upgrade, one mainnet activation epoch will be selected. Pectra follows last year's Dencun upgrade. It introduces enhanced Ethereum accounts, improved validator experience, support for L2 scaling, and more features.