uta

DefiLlama founder 0xngmi has outlined three possible courses of action that KelpDAO may take following the rsETH hacking incident. Each of the three paths has significant flaws, and the final decision will test KelpDAO's credibility and Aave's risk tolerance.Path One: All users share the losses. KelpDAO will uniformly deduct 18.5% of the losses from all rsETH holders proportionally. Currently, there are about 666,000 rsETH collateralized across the Aave network, primarily highly leveraged on the mainnet and L2 (assuming all are at a 95% liquidation LTV). Once socialized losses occur, the equity of all positions on the mainnet will be completely wiped out, resulting in approximately $216 million in bad debt. The Umbrella protocol can cover $55 million in bad debt, and the Aave treasury will additionally bear $85 million, leaving a gap of about $76 million. KelpDAO may fill this gap by borrowing or selling Aave tokens (currently valued at about $51 million), but this would still put significant pressure on Aave, and all users would need to share the losses.Path Two: Directly rug the rsETH holders on L2. KelpDAO will only guarantee the mainnet rsETH and consider the rsETH on L2 as worthless. Currently, Aave L2 has about $359 million in rsETH collateral (calculated at current oracle prices), and if all are calculated at maximum leverage, it would result in approximately $341 million in bad debt, which cannot be covered by the Umbrella protocol at all. Aave can only use the treasury or borrowing to save part of the market, most likely abandoning chains like Arbitrum, Mantle, and Base, which have the largest losses, leading to a collapse of these L2 markets. This option has a minor impact on the Aave mainnet but would severely damage the credibility of the L2 ecosystem and could trigger a chain reaction.Path Three: Attempt to refund only the holders based on a snapshot taken before the hack, which is extremely difficult to execute. KelpDAO tries to fully refund only the rsETH holders based on the snapshot taken before the hack, while subsequent buyers or transfer holders would bear the losses themselves. However, since funds have significantly flowed after the attack, and the nature of DeFi protocols is liquidity pools, it is impossible to truly distinguish between different batches of depositors, making technical execution very challenging. The hacker borrowed $124 million on the Aave mainnet and $18 million on Arbitrum, and after deducting the coverage from the Umbrella protocol, there remains about $91 million in losses. Although this plan theoretically minimizes the spread of impact, its practical implementation is nearly impossible and could easily lead to legal and community disputes.

At the "Crypto 2026: From Cryptocurrency to Smart Economy" themed forum held in Hong Kong, guests including KiteAI's Asia Pacific head Laughing, Sentient's Asia Pacific head Anita, Brevis content director Nic Tang, Mentis product head Jerry, and Predict.fun's Asia Pacific BD head Ah Huang Ricardo engaged in a roundtable discussion on the theme "AI × Crypto --- The Foundation of the Next Generation Digital Economy."Regarding whether the outbreak of open-source AI Agents (such as "raising lobsters") is a short-term sentiment or a long-term trend, Laughing believes this marks a paradigm shift of AI from "conversational" to "executive," signaling the beginning of a long-term trend. However, Agents lack a physical identity, making it difficult for merchants to trust their trading behavior, and issues of data leakage and uncontrollability remain obstacles that must be overcome for scaling. Jerry pointed out, based on his own usage experience, that current Agents face security risks such as memory fuzziness, token consumption in dead loops, and accidental file deletion. Although newly emerged Agents have improvements, they still have shortcomings. Ah Huang Ricardo stated that behind the short-term sentiment is real user demand, but truly reproducible profitable trading Agents are still very rare, and there is a long way to go.Addressing core bottlenecks such as trust, security, and verifiability, Nic Tang emphasized that the current execution process of Agents is like a black box, where users cannot verify whether their decisions are executed as promised. Zero-knowledge proof technology can mathematically prove the source of an Agent's output and compliance with behavior, while not exposing privacy. Anita added that Sentient is committed to building an open and collaborative AI agent network, promoting the deep integration of AI and blockchain in identity, data, and incentive layers, providing foundational support for the next generation digital economy.Regarding the application scenarios that are likely to scale first, the guests generally believe that the programming field is relatively mature, and Agents in prediction markets perform better than humans in specific tracks due to their rationality and lack of emotions. In the short term, they are optimistic about API Marketplace and cross-platform consumer shopping Agents, while in the medium term, they are optimistic about content creation AI (such as AI influencers). Agent-to-Agent interaction and the Agent/Skill Marketplace are seen as important future trends.

According to Onchain Lens monitoring, the government of the Kingdom of Bhutan transferred 250 BTC for sale, worth 18.46 million USD.

According to CoinDesk, after selling 70% of its Bitcoin holdings, there are reports that the Kingdom of Bhutan may have stopped or slowed down its Bitcoin mining activities, in stark contrast to the actions of other major institutions and sovereign nations that are increasing their holdings in cryptocurrencies and gold (El Salvador's current Bitcoin holdings have exceeded 7,618 coins).It is reported that due to economic pressure, its hydropower is currently used more for selling electricity to neighboring India rather than for Bitcoin mining. Additionally, the decline in Bitcoin prices, the increase in network difficulty, and halving pressure are all squeezing the profit margins for mining.As of now, the national sovereign wealth fund managing Bhutan's Bitcoin assets, Druk Holding and Investments, has not publicly commented on the status of fund transfers or its mining operations.

According to Onchain Lens monitoring, the government of the Kingdom of Bhutan transferred 250 BTC to a newly created wallet, worth 18.05 million dollars.

According to The Block, based on monitoring by Onchain Lens, the Royal Government of Bhutan transferred approximately 319.7 BTC (about 22.68 million USD) to two addresses three hours ago. About 250 BTC were transferred to a wallet that was previously used to sell funds through Galaxy Digital and OKX, while another 69.7 BTC were sent to a new unmarked address.According to Arkham data, the Bhutanese government has transferred out Bitcoin worth 215.7 million USD from its holding addresses this year, of which 162.6 million USD was sent to unmarked wallets. After this transfer, Bhutan currently holds 3,954 BTC, valued at approximately 280.6 million USD.The country held about 13,000 BTC at its peak in October 2024, with its Bitcoin assets managed by the national sovereign wealth fund Druk Holding and Investments Ltd. Bhutan previously accumulated its Bitcoin holdings through a hydropower-supported mining operation, but according to Arkham data, its last recorded Bitcoin inflow exceeding 100,000 USD was a year ago.

According to on-chain analyst Onchain Lens (@OnchainLens), the Royal Government of Bhutan transferred 319.7 BTC (worth approximately $22.67 million) to two wallets: one is a new wallet, suspected to be an exchange wallet; the other is an old wallet, which had previously conducted fund transfer sales through OKX or Galaxy Digital.

According to on-chain analyst Onchain Lens (@OnchainLens), the Royal Government of Bhutan transferred 319.7 BTC (worth approximately $22.67 million) to two wallets: one is a new wallet, suspected to be an exchange wallet; the other is an old wallet, which previously conducted fund transfer and sale operations through OKX or Galaxy Digital.

JAN3 CEO Samson Mow posted on the X platform, stating that the current response to the threat of quantum computing (QC) to Bitcoin should not be rushed. Blindly and hastily switching from the existing signature mechanism to post-quantum (PQ) solutions may expose Bitcoin to the risk of classical computing attacks in the short term. The size of PQ signatures could increase by 10 to 125 times, significantly reducing network throughput and potentially triggering a repeat of the scaling disputes similar to the early "block wars."In addition, Samson Mow warned that some PQ solutions may have potential backdoor risks. The threat of quantum computing is still in the medium to long-term stage (which may take 10 to 20 years). The more reasonable path currently is to continue research rather than rush deployment. He also specifically mentioned Coinbase, stating that its wallet has quantum attack vulnerabilities due to address reuse, and suggested prioritizing the repair of related infrastructure issues.

According to Onchain Lens monitoring, the Royal Government of Bhutan transferred 325 BTC (worth $25.19 million) to a wallet that had previously sent BTC to Galaxy Digital, suspected to be a sale.

According to Arkham data, at 15:28, 375 BTC (worth approximately 25.18 million USD) were transferred from Royal Government of Bhutan (Druk Holdings) to an anonymous address (starting with bc1q0n...).

According to Onchain Lens monitoring, the Royal Government of Bhutan transferred 123.7 BTC (worth 8.5 million USD) to a new address.

The Kingdom of Bhutan transferred 519.707 bitcoins (approximately $36.75 million) to external addresses on Wednesday, continuing its trend of reducing bitcoin holdings since 2026.On-chain data shows that the Bhutanese royal government currently holds 4,453 bitcoins, valued at approximately $315 million, a decrease of 66% from the peak of nearly 13,000 bitcoins at the end of 2024. The total outflow since the beginning of the year has exceeded $150 million. Bhutan's selling scale is accelerating, with transfers in January and February ranging from $5 million to $15 million each, and in March rising to $35 million to $45 million per transfer. The destination of Wednesday's transfer is consistent with the deposit patterns of trading platforms, but the specific whereabouts have not yet been confirmed. Unlike most countries that accumulate bitcoins through purchases, Bhutan's holdings come from its mining operations based on abundant hydropower resources. In December 2025, Bhutan committed to using up to 10,000 bitcoins for the development of the southern economic center Gelephu Mindfulness City project. This sovereign sale is one of the largest government bitcoin reduction actions on record, creating ongoing selling pressure in the market.

DonutAI announced that it will hold the first public demonstration of its proactive AI trading agent D0 on March 27 at 18:00 at the CAI Building in Hong Kong. This event is co-hosted by DonutAI and 0xU Labs and is free and open to the public.According to the official introduction, D0 is positioned as a 24/7 AI trading operator. Unlike traditional passive instruction-based trading tools, D0 focuses on actively monitoring the market, executing strategies, and managing risks under user-defined rules. During the event, the team will conduct a live demonstration, showcasing D0's proactive trading cycle and its GRPS risk control system (covering core indicators such as stop-loss, position limits, and drawdown control), and demonstrating the convenient invocation process across devices such as Telegram.In addition, the official stated that limited exclusive beta test invitation codes and project merchandise will be distributed on-site during the event.Event link: https://luma.com/57j6jbg5

According to on-chain data analysis platform Onchain Lens, the government of Bhutan has transferred 519.7 BTC (worth approximately $36.75 million) to 2 new wallet addresses.

Recently, a first-instance verdict was announced in a case of concealing and hiding criminal proceeds, which was prosecuted by the People's Procuratorate of Yuetang District, Xiangtan City, Hunan Province, China. A new type of money laundering chain, disguised as a Maotai liquor transaction and using virtual currency as a channel, was completely dismantled, involving an amount of over 6.84 million yuan, with all 8 defendants sentenced. The gang had clear divisions of labor and strong concealment.Chen connected with upstream sources through overseas encrypted communication software, received telecom fraud proceeds, and contacted "U merchants" to complete the exchange and circulation of virtual currency; Xie was responsible for providing tools for the crime and keeping track of financial details; Huang used Maotai liquor trading as a cover to disguise the trajectory of the transfer of criminal proceeds with real transaction shells; the remaining members assisted with fund settlement and information transmission. The gang used fake Maotai liquor transactions as the "cleaning" stage, disguising overseas fraud proceeds as legitimate business income, converting them into virtual currency to return to upstream, and taking an illegal commission of 8% for each "cleaning."In December 2023, with a report from a victim, this black and gray industrial chain hidden under the guise of liquor trading surfaced. After the incident, the People's Procuratorate of Yuetang District intervened in the investigation early, guiding the public security organs to sort through nearly 20 million yuan in fund flows and massive electronic data, achieving a full-chain crackdown and comprehensive evidence collection. The court ultimately sentenced Xie and 7 other principal and accomplice offenders to fixed-term imprisonment ranging from 2 to 6 years for the crime of concealing and hiding criminal proceeds; the relatively minor offender Liang was sentenced to 1 year in prison with 1 year of probation.

According to Onchain Lens monitoring, the government of the Kingdom of Bhutan has just transferred 596 bitcoins (approximately 44.44 million USD) to two wallet addresses.In the past 19 hours, the government of the Kingdom of Bhutan has transferred a total of 973 BTC (approximately 72.32 million USD), including a transfer of 205.53 BTC (approximately 15.14 million USD) to QCP Capital.

According to Arkham data, at 11:29, 595.85 BTC (worth approximately 38.76 million USD) was transferred from Royal Government of Bhutan (Druk Holdings) to an anonymous address (starting with 39ScsU6D...).

According to Lookonchain monitoring, the Bhutanese government has transferred a total of 377 BTC in the past 3 hours, worth 27.87 million dollars.