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According to PANews, the Web3 security team ScamSniffer reported that phishing attacks in November resulted in approximately $9.3 million in losses, affecting 9,208 victims. The largest single loss involved the theft of $661,000 in stETH assets. Other significant thefts included $409,000 in WBTC, $344,000 in FET, and $220,000 in USDT, primarily through malicious signature attacks.Although the financial losses in November were lower compared to October's $20.2 million and September's $45.8 million, the number of victims remained high. The report also highlighted that after the Inferno Drainer team ceased operations, the Angel Drainer group took over related projects, indicating that phishing threats continue to evolve.ScamSniffer advises users to avoid rushing into signing transactions, verify all signature requests, use anti-phishing tools, and enhance wallet security. They emphasize that a single erroneous signature could lead to a complete loss of assets.

According to U.Today, Cardano (ADA) could experience a significant price increase of up to 66% in December if historical trends are repeated. Data from Cryptorank indicates that ADA has an average growth rate of 66.8% for December, suggesting a generally bullish month for the cryptocurrency. Following a positive outlook in November, ADA has the potential to achieve a more remarkable rally this month.Cardano's historical performance in December shows a pattern of price increases, with ADA trading at $1.14 at the time of writing, marking a 6.60% rise in the past 24 hours. The market volume has also surged by 214.52% to $4.29 billion. In December 2021, ADA reached a peak of $1.72, approximately three months after its all-time high of nearly $3. This consistent upward trend indicates that Cardano has managed to overcome bearish sentiments. Analysts are optimistic that ADA could test the $10 mark, with some using the Fibonacci indicator to suggest a target of $2.453. The Fibonacci sequence at the 2.618 level points to $8.30 as a potential key target.Beyond these projections, if ADA repeats the 58.1% rally achieved in December 2023, its price could reach at least $1.70. In November, ADA skyrocketed by 216%, and a similar performance could help it retest its all-time high of $3.10. Cardano's growth is not solely reliant on historical trends; it also benefits from several fundamental factors that could support a positive growth trajectory for the remainder of the year. The excitement surrounding ADA is fueled by innovations such as the Quantum Hosky and the Chang hard fork update. Additionally, Bitcoin's efforts to retest the $100,000 price mark contribute to a bullish sentiment, and ADA's correlation with BTC could help it achieve new highs this month.

According to U.Today, recent social media speculation suggesting that Enron, the infamous energy company known for its massive fraud scandal, is launching a cryptocurrency project is unfounded. Earlier today, a press release circulated on various social media platforms, claiming that Enron was being relaunched with a focus on addressing the global energy crisis through decentralized technology, hinting at a potential shift towards cryptocurrency. This announcement led to widespread discussion among several prominent social media accounts and media outlets, many of whom took the news at face value.However, the announcement was actually a product of a parody website meant solely for entertainment purposes. Enron, once a major player in the American corporate landscape, collapsed in the early 2000s due to a significant accounting scandal. The fallout from Enron's implosion was severe, with shareholders losing approximately $74 billion, highlighting the extensive nature of the corporate and accounting fraud orchestrated by the company. Jeffrey Skilling, Enron's former CEO, was released from prison in 2019 after serving 14 years of a 24-year sentence. Kenneth Lay, another key executive, passed away from a heart attack before he could be sentenced. 

According to Odaily, Uniswap Labs recently shared data on platform X from Dune Analytics, revealing that Arbitrum has become the first Layer 2 (L2) solution on the Uniswap protocol to surpass $20 billion in monthly trading volume. This significant achievement underscores the growing adoption and scalability of Layer 2 solutions in the decentralized finance (DeFi) ecosystem.Arbitrum's milestone highlights the increasing demand for efficient and cost-effective trading solutions within the DeFi space. As Ethereum's network congestion and high gas fees continue to pose challenges, Layer 2 solutions like Arbitrum offer a promising alternative by providing faster transaction speeds and reduced costs. This development is a testament to the potential of Layer 2 technologies in enhancing the overall user experience on decentralized platforms.The success of Arbitrum on Uniswap also reflects the broader trend of DeFi protocols integrating Layer 2 solutions to improve scalability and accessibility. As more users and developers turn to these solutions, the DeFi landscape is expected to evolve, offering more robust and efficient platforms for trading and other financial activities. This shift towards Layer 2 adoption is likely to drive further innovation and growth in the DeFi sector, paving the way for a more inclusive and sustainable financial ecosystem.

According to Foresight News, a proposal to reduce the execution delay on ZKNation DAO from 21 hours to 3 hours is currently open for voting. The voting process is set to conclude on December 9. As of now, the proposal has garnered a support rate of 99.96%. However, it has not yet reached the required number of votes to be enacted.The proposal aims to streamline operations within the ZKNation DAO by significantly shortening the time required for executing decisions. This change is expected to enhance the efficiency and responsiveness of the DAO's governance processes. Despite the overwhelming support, the proposal's success hinges on achieving the necessary quorum, which remains unmet at this stage.The reduction in execution delay is seen as a critical step in improving the overall functionality of the DAO, allowing for quicker implementation of decisions and potentially increasing the attractiveness of the platform to its users. Stakeholders are encouraged to participate in the voting process to ensure that the proposal can be successfully adopted.

According to Foresight News, Spectral, the on-chain proxy machine intelligence network, has released a post-incident analysis regarding a security breach on its Syntax platform. The incident occurred on December 1, 2024, and involved a vulnerability in the bonding curve contract. The Spectral team has identified and rectified the issue to prevent future exploitation.In response to the breach, Spectral has engaged Zellic to conduct an audit of the updated contracts. This step is part of their efforts to ensure the security and integrity of the platform moving forward. Additionally, the team is replenishing SPEC tokens to restore the bonding curve to its state prior to the incident. Operations on the platform will resume once the audit is completed, ensuring that all necessary security measures are in place.

According to BlockBeats, recent data from the official website indicates that the lending protocol Aave is offering significant deposit rates on the Ethereum network. As of December 3, the deposit rate for USDC has reached 46%, while the rate for USDT stands at 34%.

According to Decrypt, Japanese cryptocurrency exchange DMM Bitcoin has announced plans to cease operations by March 2025. The company will transfer customer accounts and custodial assets to SBI VC Trade, the crypto division of financial giant SBI Holdings. This decision follows a significant cyberattack that resulted in a $305 million loss and the theft of 4,502.9 Bitcoin (BTC), leading to the suspension of spot trading and withdrawal services.DMM Bitcoin has stated that it will provide further details about the transfer process, including the migration timeline and steps for customers, once they are finalized. Customers with leveraged trading positions are required to close these positions before the transfer, as they will not be included in the migration. As part of the transition, SBI VC Trade will begin supporting spot trading for 14 cryptocurrencies currently available on DMM Bitcoin.The announcement highlights ongoing challenges in Japan’s cryptocurrency market, where security breaches have led to increased regulatory scrutiny and industry consolidation. SBI VC Trade, operating under one of Japan's largest financial groups, is expected to absorb DMM Bitcoin's customer base and assets, potentially strengthening its position in the domestic market. The shutdown of DMM Bitcoin reflects the lasting impact of the May cyberattack, one of the largest in the Japanese crypto industry this year. Despite halting all transactions and withdrawals to prevent further losses, DMM Bitcoin has struggled to fully recover.The migration signifies a notable consolidation in the industry, with SBI VC Trade poised to expand its footprint by inheriting DMM Bitcoin's customers and infrastructure. DMM Bitcoin did not immediately respond to requests for comment on the closure.

According to PANews, EDX Markets, a cryptocurrency exchange dedicated to institutional clients, has announced a leadership transition. Tony Acuña-Rohter, who has been serving as the Chief Technology Officer (CTO) since 2022, has been appointed as the new Chief Executive Officer (CEO). Meanwhile, the founder and former CEO, Jamil Nazarali, will take on the role of Executive Chairman. Acuña-Rohter has been instrumental in leading the technology and information security efforts at EDX, having previously held the position of CTO at ErisX.EDX Markets, backed by major Wall Street firms such as Fidelity, Charles Schwab, and Citadel Securities, commenced operations in June 2023. The platform has achieved a trading volume exceeding $36 billion this year. Operating on a non-custodial model, EDX emphasizes the integration of institutional-grade trading and clearing services. It offers trading in six different cryptocurrencies, including Bitcoin and Ethereum. The exchange aims to provide a secure and efficient trading environment for institutional investors.

According to Cointelegraph, the European Central Bank (ECB) has published its second progress report on the preparatory phase for the issuance of a digital euro. The report addresses key issues such as holding limits for the central bank digital currency (CBDC) and the harmonization of laws across member states.The report marks the midpoint of the preparatory phase, which follows the investigative and design stages. The ECB has reviewed the developing digital euro rulebook, leading to the establishment of seven workstreams involving market participants and central banks to further its development. The rulebook aims to harmonize national laws to ensure universal standards, with a progress report released in September and another expected in July 2025.Research is ongoing to develop a digital euro user profile, focusing on identifying the needs of potential users. This includes user preferences on holding limits, which will be considered in technical research conducted with national central banks. Politico reported in October that holding limits have become a contentious issue between the ECB and national central banks. One proposed solution is a "reverse waterfall" mechanism that would automatically transfer excess digital euros to fiat currency in a linked bank account. The report also mentions ongoing investigations into solutions for offline transactions, though details remain sparse.A significant topic in the report is the competition in the financial market between European and non-European service providers and the need for enhanced technical services, such as digital wallets. The report highlights that payment service providers (PSPs) could leverage the digital euro infrastructure to develop new payment services. Additionally, a digital euro could assist regional and domestic European schemes in scaling up their payment offerings using the digital euro acceptance network.The report also suggests potential improvements to the user experience of the digital euro, allowing citizens with a strong preference for privacy to enjoy cash-like privacy features. In February, ECB executive board member Piero Cipollone assured that the digital euro would offer a higher standard of privacy than current commercial solutions.The selection of technical service providers will continue, alongside ongoing communications with the public and other stakeholders. The ECB plans to release the next digital euro progress report in the second quarter of 2025, with the ECB Governing Council potentially deciding on the launch of the European CBDC in October 2025.

According to Odaily, data disclosed by analyst Lars on the X platform reveals that the adjusted on-chain transaction volume for stablecoins in November reached $1.17 trillion, marking a significant increase of 30.7%. This surge in transaction volume highlights the growing role of stablecoins in the digital currency market.In addition to the rise in transaction volume, the issuance supply of stablecoins also saw a notable increase, climbing by 12% to reach a new high of $167.2 billion. This growth in supply underscores the expanding demand and utilization of stablecoins in various financial activities. Among the stablecoins, USDT and USDC continue to dominate the market, holding substantial market shares of 79.9% and 17.4%, respectively. 

According to ShibDaily, David Marcus, the former head of Facebook's Libra project, has claimed that political opposition was the primary reason for the failure of the stablecoin initiative. In a detailed post on X, Marcus described the project's shutdown as a "100% political kill," attributing it to actions by regulators and government officials behind the scenes. The Libra project, which was later rebranded as Diem, aimed to create a global digital currency to facilitate fast, low-cost cross-border transactions. Its goals included providing financial inclusion for the unbanked, offering a stable alternative to volatile cryptocurrencies, and streamlining digital payments through blockchain technology.Despite extensive briefings with key regulators before its launch, Libra faced significant global resistance. Marcus recounted that following the project's announcement in June 2019, he was called to testify before the Senate Banking Committee and the House Financial Services Committee just two weeks later. This marked the beginning of two years of continuous efforts to address lawmakers' and regulators' concerns. By spring 2021, after tackling issues related to financial crime, money laundering, consumer protection, and reserve management, Marcus stated that the company was prepared to launch. However, he alleged that U.S. Treasury Secretary Janet Yellen warned Federal Reserve Chair Jay Powell that supporting the project would be "political suicide," effectively halting its progress.Marcus also claimed that the Federal Reserve began contacting participating banks, reportedly advising them that while they couldn't be stopped from proceeding, there was discomfort with their involvement. Concerns among lawmakers and regulators centered on the potential impact of a Facebook-backed currency on the global financial system and the control central banks have over currency. Marcus and several key figures involved in the project departed in late 2021. In his concluding remarks, Marcus emphasized the lessons learned from the experience, advocating for a truly open global financial network based on Bitcoin, which he described as the most neutral, decentralized, and secure asset. He asserted that Bitcoin is "hands down" the best choice for such a network.

According to Odaily, cybersecurity firm SlowMist has disclosed a list of victim and attacker addresses related to the EVM (ETH/BSC/BASE) chain DEXX incident. The list includes approximately 4,000 addresses. This follows a previous disclosure of over 8,600 Solana-related attacker addresses. The data was sourced from DEXX's official records and submissions from thousands of victims.

According to BlockBeats, on December 2, Zhu Su, co-founder of Three Arrows Capital, shared insights on social media regarding the evolving dynamics within the cryptocurrency industry. Zhu Su highlighted a significant shift from infrastructure-led initiatives to a focus on product development. This transition marks a departure from the traditional emphasis on building foundational infrastructure to a more product-centric approach.Zhu Su noted that investing in products carries higher risks than investing in infrastructure. However, he pointed out that this aligns more closely with the risk models familiar to Web2 investors. The shift reflects a return to a more conventional investment strategy, focusing on developing and enhancing products rather than solely concentrating on the underlying infrastructure. 

According to Odaily, CryptoQuant CEO Ki Young Ju recently shared insights on X, emphasizing a significant shift in the dynamics of the altcoin market. He noted that the traditional concept of 'altcoin season,' which was previously defined by asset rotation from Bitcoin, is no longer applicable. Instead, the surge in altcoin trading volume is now driven by stablecoin and fiat currency pairs rather than Bitcoin trading pairs.

According to PANews, recent data from Arkham reveals that over the past four hours, BlackRock's BUIDL Fund has transferred a total of 1.235 million USDC to Ondo Finance. This significant movement of funds highlights ongoing financial activities within the cryptocurrency sector, reflecting the dynamic nature of digital asset management. The transfer of USDC, a stablecoin pegged to the US dollar, underscores the strategic financial maneuvers being executed by major players in the industry. Ondo Finance, known for its innovative financial solutions, is likely to utilize these funds to further its operations and expand its offerings in the decentralized finance (DeFi) space. This transaction is part of a broader trend where institutional investors are increasingly engaging with DeFi platforms, seeking to leverage the benefits of blockchain technology and decentralized financial services. Such movements are indicative of the growing confidence in digital currencies and blockchain-based financial systems. As the cryptocurrency market continues to evolve, transactions like these are expected to become more commonplace, signaling a shift towards more integrated and sophisticated financial ecosystems. The involvement of established financial entities like BlackRock in the DeFi space is a testament to the potential and resilience of blockchain technology in reshaping traditional financial paradigms.

According to CoinDesk, stablecoins have the potential to grow significantly within the U.S. financial system, potentially reaching 10% of the U.S. money supply and foreign exchange transactions. This projection comes from a report by Standard Chartered and Zodia Markets, which was released on Thursday. Currently, stablecoins account for approximately 1% of the U.S. M2 money supply and 1% of foreign exchange transactions. The report, authored by Geoff Kendrick and Nick Philpott, suggests that as the sector becomes more legitimized, achieving a 10% share in each measure is feasible.Stablecoins are a type of cryptocurrency designed to maintain a stable value, often pegged to the U.S. dollar, though other currencies like gold can also be used. M2 is a measure of the U.S. money supply, encompassing cash, savings, and other short-term investments. The report highlights that the catalyst for this anticipated growth in stablecoin adoption will be the implementation of U.S. regulations. The authors emphasize that cross-border payments and foreign exchange-equivalent transactions are key areas poised for expansion.The report also notes that during Joe Biden's administration, three bills concerning stablecoin regulation were introduced, but progress was limited. However, it anticipates more success on the regulatory front when Donald Trump's administration takes over in early 2025. Additionally, a research report by Bernstein in September highlighted the increasing importance of stablecoins in the global financial system, noting that they are now the 18th-largest holder of U.S. Treasuries. This underscores the growing role of stablecoins in the broader financial landscape.

According to Odaily, a recent analysis by Greeks.live macro researcher Adam reveals significant developments in the cryptocurrency options market. A total of 98,000 Bitcoin (BTC) options are set to expire, with a put-call ratio of 0.84 and a maximum pain point at $80,000, representing a nominal value of $9.48 billion. Additionally, 412,000 Ethereum (ETH) options will expire, with a put-call ratio of 0.75 and a maximum pain point at $2,900, amounting to a nominal value of $1.47 billion.Bitcoin's attempt to reach $100,000 has faced resistance, while Ethereum has taken the lead in the market this week, with altcoins experiencing a rebound. The potential risks associated with the end of Bitcoin's leading rally have been absorbed by Ethereum, maintaining the strength of the spot market's bullish momentum. Over 20% of current positions are set to expire this week, and as the next monthly cycle coincides with the year-end options expiry, 40% of positions will expire. This scenario is expected to exert pressure on implied volatility due to significant position shifts and the Christmas market dynamics.