KEYTAKEAWAYS
- Shield Mining: Orange Finance Hacked, Loss of Approximately $787,000
- Matrixport: Global Liquidity Tightening, Bitcoin May Enter Consolidation Phase Soon
- GMC in Bhutan Announces Inclusion of BTC, ETH, and BNB in Strategic Reserves
CONTENT
SHIELD MINING: ORANGE FINANCE HACKED, LOSS OF APPROXIMATELY $787,000
On January 8, according to PeckShield’s monitoring, the liquidity management protocol Orange Finance on Arbitrum was hacked, resulting in approximately $787,000 in crypto assets being transferred from its contract.
The official report confirmed that the attacker controlled the admin address, upgraded the contract, and transferred the funds to their wallet. Orange Finance is attempting to contact the attacker via Arbiscan to negotiate the return of the funds.
Analysis:
This attack exposed vulnerabilities in Orange Finance’s contract permission management, especially concerning the security of the admin address. The attacker exploited this loophole to control the contract, leading to a significant loss of funds.
Such frequent attacks serve as a reminder for DeFi projects to strengthen permission management and contract security during design and implementation.
Users should also be cautious about their authorization relationships with smart contracts, especially long-standing authorizations that are no longer managed, and regularly review and revoke unnecessary authorizations to reduce the risk of fund theft.
MATRIXPORT: GLOBAL LIQUIDITY TIGHTENING, BITCOIN MAY ENTER CONSOLIDATION PHASE SOON
On January 8, Matrixport released its daily chart report, indicating that fluctuations in global liquidity might pressure Bitcoin. Historical data shows that changes in liquidity typically precede Bitcoin’s price movements by approximately 13 weeks.
Following Trump’s re-election, the strengthening of the US dollar has led to a tightening of global liquidity, suggesting that Bitcoin may enter a consolidation phase in the near term.
Analysis:
The tightening of global liquidity mentioned in the report is closely tied to the strengthening of the US dollar. This trend could exert short-term pressure on assets priced in dollars, including Bitcoin. The likelihood of Bitcoin entering a consolidation phase soon increases, especially in the context of a tightening global liquidity environment.
However, Matrixport views this as a temporary phenomenon, maintaining that Bitcoin, as a risk asset, still has positive long-term potential. This long-term bullish sentiment likely stems from Bitcoin’s deflationary nature and its unique position as a store of value.
In a weaker liquidity market environment, traders should exercise greater caution, particularly when these liquidity indicators have historically proven to be reliable market barometers. While short-term volatility may increase, long-term investors may see these adjustment periods as opportunities to position themselves strategically.
GMC IN BHUTAN ANNOUNCES INCLUSION OF BTC, ETH, AND BNB IN STRATEGIC RESERVES
On January 8, according to the official website of the Gelephu Mindful City (GMC) in the Bhutanese Economic Zone, GMC announced the inclusion of BTC, ETH, and BNB in its strategic reserve assets, becoming one of the first special administrative regions globally to incorporate digital assets into strategic reserves.
According to the website, BNB was included due to its high market value, ample liquidity, and operation on a mature and secure blockchain. GMC stated that one of the future economic focuses is promoting and supporting the application of blockchain technology.
This move not only strengthens GMC’s economic resilience but also demonstrates its commitment to advancing blockchain technology. In March 2025, GMC will hold a high-level conference to discuss digital asset strategic reserves and establish an international advisory committee.
Analysis:
The inclusion of BTC, ETH, and BNB as strategic reserve assets by Bhutan’s Gelephu Mindful City (GMC) reflects the growing status of digital assets in the global economy.
By incorporating these mainstream cryptocurrencies into its reserves, GMC not only enhances its fiscal security but also signals its long-term confidence in blockchain technology and cryptocurrencies. BNB was likely selected as a reserve asset due to its significant role and high liquidity in the blockchain ecosystem.
This decision may attract more attention and prompt other countries or regions to consider similar initiatives, further advancing global blockchain technology. GMC’s plan to hold a high-level conference in 2025 and establish an international advisory committee underscores its commitment to long-term strategic planning.
This move could spark broader discussions about the role of digital assets in national or regional strategic reserves, encouraging more regions to explore the potential of the digital economy.
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