Author: Chainalysis Compiled by: Felix, PANews In response to the ongoing attacks by North Korean hackers on the cryptocurrency industry over the years, Chainalysis focused on analyzing North Korean hacking activities in the 2025 Hacker Attack Report. Below are the details. Key Points: - North Korean hackers stole $2.02 billion worth of cryptocurrencies in 2025, a 51% increase year-over-year. Despite fewer attacks, their total stolen amount has reached $6.75 billion. - North Korean hackers have stolen more cryptocurrencies with fewer attacks, often by infiltrating internal IT staff within crypto services or using sophisticated impersonation strategies targeting executives. - North Korean hackers clearly favor Chinese money laundering services, cross-chain bridge services, and mixing protocols. After major theft events, their money laundering cycle is approximately 45 days. 202

Original author: Lawyer Li Xinyi, Mankun Blockchain Introduction A ruling by the Hangzhou Internet Court clearly demonstrates that "Fat Tiger Vaccination" NFT infringement case: decentralization does not mean no responsibility. Behind the technology, there are still clear legal boundaries. Many people think that since they only develop technology, build platforms, and provide tools, and do not directly participate in infringement, they should be fine. But this ruling clearly states: technology itself cannot serve as a "shield" against infringement; if used improperly, it can still be illegal. In this article, we will discuss a key but often overlooked concept: "Technological Evasion of Copyright Infringement." What is it? How can ordinary people avoid it? And how should we find a balance between innovation and compliance? Technological Evasion of Infringement: The Deadly Shortcut to Bypass "Digital Locks" In the Web3 and digital creation fields, there is a form of infringement that is often underestimated: it is not direct theft.

On January 5th, Paris time, the NFT Paris event, originally scheduled to be held at the Villette Hall and having built a four-time reputation, announced its cancellation. The 20,000 tickets along with hundreds of sponsor booths suddenly became worthless. The organizers attributed the decision to a "market crash," undoubtedly putting the NFT sector on pause and writing a calm New Year’s memo for the Web3 ecosystem in 2026. (Background: Bear market NFT comeback! Fat penguin on the Las Vegas sphere: What phenomena are we seeing?) (Additional background: Flow has shifted to DeFi, the former top-tier NFT momentum and dilemma) Table of Contents The refund dilemma highlights liquidity limits Bitcoin rises, NFTs fall: decoupling intensifies After the bubble bursts, where does Web3 go from here?

Christmas week login to Las Vegas landmark, $PENGU defies the downturn market to rise During the 2025 Christmas holiday season, the well-known NFT brand Pudgy Penguins successfully launched at the Las Vegas landmark building Sphere, projecting its iconic penguin image onto the massive spherical screen Exosphere. Pudgy Penguins is now live on the Exosphere of @SphereVegas 🐧 pic.twitter.com/o4EZjU55gl — Pudgy Penguins (@pudgypenguins)

Christmas week login to Las Vegas landmark, $PENGU defies the downturn market to rise During the 2025 Christmas holiday season, the well-known NFT brand Pudgy Penguins successfully launched at the Las Vegas landmark building Sphere, projecting its iconic penguin image onto the massive spherical screen Exosphere. Pudgy Penguins is now live on the Exosphere of @SphereVegas 🐧 pic.twitter.com/o4EZjU55gl — Pudgy Penguins (@pudgypenguins)

Christmas week login to Las Vegas landmark, $PENGU defies the downturn market to rise During the 2025 Christmas holiday season, the well-known NFT brand Pudgy Penguins successfully launched at the Las Vegas landmark building Sphere, projecting its iconic penguin image onto the massive spherical screen Exosphere. Pudgy Penguins is now live on the Exosphere of @SphereVegas 🐧 pic.twitter.com/o4EZjU55gl — Pudgy Penguins (@pudgypenguins)

Christmas week login to Las Vegas landmark, $PENGU defies the downturn market to rise During the 2025 Christmas holiday season, the well-known NFT brand Pudgy Penguins successfully launched at the Las Vegas landmark building Sphere, projecting its iconic penguin image onto the massive spherical screen Exosphere. Pudgy Penguins is now live on the Exosphere of @SphereVegas 🐧 pic.twitter.com/o4EZjU55gl — Pudgy Penguins (@pudgypenguins)

Pudgy Penguins Christmas Schedule Launches on Las Vegas Sphere, Driving $PENGU Upward Against the Trend Through Pure Brand Exposure, Demonstrating the Resilience of NFT Brand IP and Physical Transformation. Christmas Week Entry into Las Vegas Landmark, $PENGU Rises Against the Downtrend ------------------------------ During the 2025 Christmas holiday season, the well-known NFT brand Pudgy Penguins successfully launched on the Las Vegas landmark Sphere, projecting its iconic penguin image onto the massive spherical screen Exosphere. Image source: X/@pudgypenguins Well-known NFT Brand Pudgy Penguins Successfully Launches on Las Vegas Landmark

Encryption applications are shifting from technological innovation to competition in distribution capabilities, and in the future, the focus will be on embedding backend services into other ecosystems rather than attracting individual users. Front-end platforms like Coinbase will capture a larger share of value, and competition will focus on distribution capabilities rather than liquidity.

Cryptocurrency applications are gradually evolving into standardized infrastructure, focusing on backend services to meet users' preferences for familiar interfaces. As technological advancements approach diminishing marginal returns, users prioritize ease of use over complex operations. In the future, competitive barriers will revolve around distribution capabilities rather than liquidity.

An old address holding 6.9 million USD ADA suffered a loss of over 6 million USD due to mistakenly entering a low liquidity niche stablecoin USDA pool for trading. The funds trace back to the Cardano Genesis Block, sparking discussions about the founding entity. This incident once again highlights the "fat finger" risk in the crypto market, where erroneous operations can lead to significant losses in an instant.

Article author: haonan Article compilation: Block unicorn Introduction Users in the global unsecured consumer credit market are like fat sheep of modern finance—slow to act, lacking judgment, and lacking mathematical ability. When unsecured consumer credit shifts to the stablecoin track, its operating mechanism will change, and new participants will have the opportunity to share the pie. Market Size In the United States, the primary form of unsecured borrowing is credit cards: this ubiquitous, highly liquid, and instantly available credit tool allows consumers to borrow without providing collateral during shopping. Unpaid credit card debt continues to rise and has now reached approximately $1.21 trillion. Outdated Technology The last major change in the credit card lending field occurred in the 1990s when Capital One introduced risk-based pricing, a groundbreaking move that reshaped the industry.

Preface Users in the global unsecured consumer credit market are like the fat sheep of modern finance – slow to act, lacking judgment, and lacking mathematical ability. When unsecured consumer credit shifts to the stablecoin track, its operating mechanism will change, and new participants will have the opportunity to share in the profits. The market is huge. In the United States, the primary form of unsecured lending is credit cards: this ubiquitous, highly liquid, and instantly available credit tool allows consumers to borrow without providing collateral when making purchases. Outstanding credit card debt continues to grow, currently reaching approximately $1.21 trillion. Outdated technology The last major transformation in the credit card loan sector occurred in the 1990s when Capital One launched a risk-based pricing model, a groundbreaking initiative that reshaped the consumer credit landscape. Since then, despite the emergence of new banks and fintech companies, credit cards

100x crypto is the phrase buzzing across every trading group as October 2025 unfolds. Everyone wants to catch the next rocket before it takes off, and the mix of chaos, memes, and moonshot plays never fails to deliver either fat wallets or regret screenshots. Bitcoin and Ethereum might be

The long-silent NFT market is experiencing a significant rebound. According to CoinMarketCap, the total market capitalization of NFTs has surpassed $28.4 billion, marking a substantial 40% increase since July. This rise is primarily driven by a surge in the price of Ether (breaking the $4,700 mark), leading to an increase in the dollar valuation of top collectibles based on ETH. In July, the total market sales amounted to $574 million, making it the second-highest monthly figure in 2025, with a month-on-month increase of 47.6%. The blue-chip landscape is changing: CryptoPunks remains at the top with a market capitalization of $2.4 billion, while Pudgy Penguins has made a comeback with a weekly trading volume of $8.7 million, overtaking Bored Ape Yacht Club (BAYC) at $6.3 million. The market shows a trend of 'price rise and stable volume'—the trading volume slightly decreased by 9% to 5 million transactions, but the average selling price climbed to $113 (a six-month high), indicating.

Author | Jiawei @IOSG Three years ago, we wrote an article about Appchain, triggered by dYdX's announcement to migrate its decentralized derivatives protocol from StarkEx L2 to the Cosmos chain, launching its v4 version as an independent blockchain based on the Cosmos SDK and Tendermint consensus. In 2022, Appchain may have been a relatively marginal technological option. As we move into 2025, with the introduction of more Appchains, especially Unichain and HyperEVM, the competitive landscape of the market is quietly changing, forming a trend centered around Appchains. This article will start from this point to discuss our Appchain Thesis.

The leading memecoin in the Solana ecosystem, Pudgy Penguins (PENGU), welcomes multiple favourable information: 1) Commission-free broker Robinhood has included it in its premium trading platform Robinhood Legend, stimulating the price to rise over 5% in 24 hours, currently reported at \$0.035; 2) The U.S. SEC has accepted the PENGU ETF application submitted by Canary Capital, with the countdown for decision starting, and if approved, it will become the first memecoin ETF; 3) PENGU's market capitalization has soared to 2.2 billion USD, ranking first among Solana ecosystem tokens, surpassing mature DeFi protocols such as PUMP and RAY. This article analyzes the technical support for PENGU's recent strong performance and potential upward targets.

A version of this article appeared in our The Decentralised newsletter on August 5. Sign up here. Last week Ethereum turned 10, and now the world’s second-most valuable blockchain must cut the baby fat, argues Justin Drake, an Ethereum Foundation researcher. His vision, named Lean Ethereum, aims t

The SEC has accepted the application for the Canary PENGU ETF, marking the first time that meme coins and NFTs have been included in a traditional ETF framework. (Background: With the explosive growth of the fat penguin $PENGU, can Abstract Chain break through among the many L2s?) (Additional context: The fat penguin Pudgy Penguins has taken over the crypto world: a victory for elite culture in the crypto world.) The U.S. Securities and Exchange Commission (SEC) officially accepted the application for the Canary PENGU ETF from Canary Capital on August 1, with the first spot ETF packaging meme coin PENGU together with Pudgy Penguins NFT, knocking on the door of mainstream investment. Exchange-traded funds have for the first time included meme coins and

Pudgy Penguins denies the acquisition of the NFT trading platform OpenSea, emphasizing its focus on brand expansion and collaborations, such as co-branded partnerships with Lufthansa and NASCAR. Its own token $PENGU has become very popular in the Korean market, with volume surpassing DOGE, demonstrating its growing brand influence. The NFT market is warming up again, with Whales sweeping up CryptoPunks, boosting confidence and proving the importance of physical business and community value.

1. Fat Penguin Sparks Twitter Avatar Change Trend Recently, Pudgy Penguins has sparked a wave of profile picture enthusiasm in the crypto community, with industry institutions including Coinbase, Binance.US, OpenSea, VanEck, OKX, and BitMart successively changing their official Twitter avatars to Pudgy Penguins' derivative images. Among them, the endorsement by traditional financial giant VanEck is particularly crucial. This asset management company, with a history of 70 years, not only changed its Twitter avatar to a Pudgy Penguin as early as 2024 but also rang the bell on Nasdaq with physical dolls on June 23 this year, bringing Web3 IP into the mainstream financial arena. The recent popularity has also significantly boosted the price performance of Pudgy Penguins-related assets. As of July 17, the Pudgy Penguins ecosystem token.

Author: Nancy, PANews In recent days, the popularity of small pictures has been rekindled, and the NFT market has ushered in a long-awaited general rise. After a period of dormancy, the old blue-chip NFT Moonbirds has rebounded strongly after completing a new round of ownership changes. Behind

The Ethereum ecological blue-chip NFT project Pudgy Penguins' native token PENGU surged 18% today, reaching a daily high of $0.039, a new six-month high. The cumulative increase over the past month has reached 360%, with a market capitalization exceeding $2.3 billion, ranking in the Top 60 Crypto Assets. On-chain data shows that Pudgy Penguins NFT's seven-day sales skyrocketed by 51.93% to $10 million, with Smart Money Holdings increasing by 6.7% to $101.2 million. The technical analysis shows a cup and handle breakout, a bullish triangle flag consolidation, and a golden cross of the 50/200-day moving averages, with a short-term target pointing to $0.055.

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Wall Street’s no rookie when it comes to spinning complex money moves into fat stacks—and now it’s running the same high-level play in crypto. And no, it’s not just riding the $BTC wave. This

The blockchain monitoring platform Arkham disclosed that the project party of Pudgy Penguins has transferred 1.586 billion PENGU (approximately 45.56 million USD) to mainstream exchanges from July 11 to date, raising concerns about market dumping. Despite the token rising 8 times this month and its market capitalization exceeding 2 billion USD, along with favourable information from the SEC confirming the ETF application, the technical indicators show overbought divergence signals. The project party still holds 9.541 billion PENGU (worth 299 million USD), creating a tug-of-war between short-term selling pressure risks and ecological development (mobile game launch/exchange support). Experts warn that if it cannot hold above 0.03 USD, it may trigger a 30% pullback.

Bitcoin kicked off this week by setting a new high, reaching a peak of $123,000. However, it's bad news for those investors who have been slow to "pull the trigger." In response to this surge, Robert Kiyosaki, the author of "Rich Dad Poor Dad," posted on X platform yesterday (14th), stating that he would rarely slow down his plans to buy Bitcoin and would wait for clearer economic trends before making a decision. He reminded investors with the Wall Street saying, "Pigs get fat, Hogs get slaughtered," not to become the greedy pigs in the market.

Original | Odaily Daily Report (@OdailyChina) Author | Wenser (@wenser 2010)  After more than 3 months, the胖企鹅生态 meme coin PENGU staged a "10x miracle performance" in the volatile cryptocurrency market. According to the OKX market, as of the time of writing, PENGU is currently quoted at 0.03 USD, with the highest price in the last 24 hours briefly breaking through to 0.032 USD, compared to the bottom price of only 0.0037 USD on April 9 this year.

Last week, markets took a breather from headline-driven volatility, while institutional bitcoin accumulation continued. Meanwhile, tokenized equities made their debut, and a broader reckoning is underway as investors question the Fat Protocol thesis. This editorial is from last week’s edition of th

Entering the "banana zone" $250,000 per Bitcoin? "Rich Dad Poor Dad" author Robert Kiyosaki has shown off his ability to use conceptual metaphors, calling himself a "fat pig" sitting on a sufficient amount of Bitcoin The animalistic "pig" metaphor refers to disciplined investors who increase th

Gwart examines the decline of the fat protocol thesis, the dysfunction of DAOs, and the transition in crypto from public goods to revenue-driven models, while also addressing Bitcoin maximalism and Solana's practical strategies.

This article organizes the centralized exchange data and on-chain holdings of the PENGU Token, revealing several key reasons for the token's recent 80% increase. This article is sourced from an article by ah kek at Dune Analytics, compiled and written by 深潮. (Previous summary: PENGU touched bottom and rebounded with a pump of 360%, how did the fat penguin achieve a second spring through marketing?) (Background supplement: $PENGU Airdrop frenzy: 1 fat penguin NFT can claim over $80,000, Solana and Ethereum OG wallets can also claim) I spent a full month organizing the centralized exchange data and on-chain holdings of the PENGU Token, and automated the data update. Do you know why PENGU increased by 80% this week? I developed a dedicated PENGU dashboard, offering unparalleled real-time insights and transparency.

Asset management company VanEck, which fully embraces Web3, partnered with the NFT project Pudgy Penguins to ring the opening bell on the Nasdaq stage yesterday. This event marks the first time a Web3 native IP has appeared on Nasdaq, symbolizing the determination of its Web3 leaders to build a bridge between traditional capital markets and the digital asset ecosystem. Ring the Nasdaq opening bell: VanEck stands on stage with Pudgy Penguins "Opening Bell (" has always been an important platform for companies to showcase their market position and vision as the opening ceremony of the daily U.S. stock market. On June 23, VanEck, together with its beloved NFT project Pengu, took the stage at Nasdaq's New York headquarters.

Written by: Crypto Miao, Fat Meimei In today's wave of globalization, Web3 projects are moving towards the international stage at an unprecedented speed, with Chinese enterprises being an undeniable force. However, the uncertainty of industry policies, the lack of legal frameworks, and the ambiguity of regulatory attitudes in China have caused hesitation in the development of Web3 enterprises. These factors collectively create compliance challenges for Web3 projects in domestic development, forcing many practitioners to turn to overseas markets or seek breakthroughs within limited compliance frameworks. Nevertheless, by closely monitoring policy trends and combining the favorable policies of various countries, and by reasonably constructing a corporate compliance framework, the Web3 industry may still find a suitable development model. Purpose of enterprises going abroad (1) Market Opportunities The global market provides a broader user base and growth potential for Web3 projects, especially in Asia.

> The price of block space will tend towards zero, and the future winners will be those applications most aligned with demand. Written by: @0x\_Arcana, Cryptography Research Institute Compiled by: Rhythm Little deep Editor’s Note: The "Fat Application Theory" posits that as the cost of block space approaches zero, L1 blockchains transition from monopoly to commoditization, with value shifting from the foundational protocol layer (such as Ethereum and Solana) to the application layer. Successful applications capture more revenue through vertical integration, controlling order flow, and MEV, becoming sovereign application chains. The market is re-pricing L1/L2, and the future winners will be applications that are close to demand and focus on practicality, rather than chains that pursue high TPS. The following is the original content (the original content has been edited for easier reading and understanding): The encryption infrastructure stage is entering a world of post-marginal cost, just like bandwidth and computing power.

Written by: Zeus Compiled by: Block unicorn Preface In a recent article, I explored how cryptocurrencies have deviated from their original vision, prioritizing infrastructure innovation while neglecting the monetary foundation needed to fulfill their promise of financial sovereignty. I traced how this deviation has led to a disconnect between technological achievements and sustainable value creation. What I have not fully explored is how the industry has fundamentally misjudged which applications are truly worth developing. This misjudgment is at the core of the current predicament of cryptocurrencies and indicates the direction in which true value may ultimately emerge. The Illusion of the Application Layer The narrative of cryptocurrency has gone through several stages, but a consistent theme is the promise of revolutionary applications that go beyond finance. Smart contract platforms are positioned as the foundation of the new digital economy, with value flowing back from the application layer to the infrastructure. This narrative has evolved with the "fat protocol theory".

The new chairman of the SEC, Paul Atkins, is about to take office, but the first challenge he faces is the "marathon" review of the encryption industry. Currently, there are 72 crypto ETFs waiting for review, including XRP, Solana, DOGE, Fat Penguin, and even Melania ETF, the Trump Mrs. coin, is on the waiting list. Paul Atkins is about to take office, and regulation is expected to be relaxed. The U.S. Senate approved on April 10 that Atkins will take over as the new chairman of the SEC. During his previous tenure at the SEC, Atkins had advocated for reducing market intervention, and now the public expects him to relax encryption regulations in the future. Over 70 encryption ETFs are in line, covering a wide range of topics. When a new official takes office, there are always many "to-do items" waiting to be addressed. According to Bloomberg

> The biggest advantage of the AI Agent is "application pre-positioning", which belongs to the logic of "fat protocol, thin application". Written by: Haotian Recently, after talking with some entrepreneurs and VCs, there's a common feeling that everyone remains confident in the expectations for the AI + Crypto track, but there seems to be a bit of confusion about the narrative evolution of web3 AI Agent. What should we do? I have outlined several potential shifts in the subsequent AI narrative for reference: 1) The AI Agent using MEME-based tokens is no longer an advantage; in fact, it can even lead to "fear of discussing tokens." If the project lacks PMF support and relies solely on a set of Tokenomics that does not function effectively, it will naturally be labeled as pure MEME speculation, merely a wolf in sheep's clothing, with little relation to AI. 2) Original AI

Citigroup mistakenly credited $81 trillion when a customer was supposed to receive only $280. The error bypassed controls but was reversed hours later. Such incidents are called "near misses," with Citigroup facing similar issues in the past.

The American asset management company Canary Capital has applied for an ETF combining NFTs and PENGU Tokens, symbolizing a relaxation of U.S. encryption policy and a shift in direction. Market reactions are mixed, with analysts questioning the prospects of encryption ETFs. Additionally, there are Solana-related ETFs launching, but the market has yet to determine if they will be accepted. Trump's administration has promoted a wave of encryption ETF applications, but market sentiment remains unclear. Canary Capital is actively trying new types of encryption investment products, showcasing a trend of policy loosening.

The investment logic of the encryption market is changing, and the value of the application layer surpasses the infrastructure, replacing the 'fat protocol theory'. The market believes that the speculation premium of the infrastructure has collapsed, and the successful application is only valued at 5 to 15 times the income. Investors are beginning to doubt whether the fat protocol theory is outdated and believe that the value of the Block chain should come from applications. In the future, the encryption market will lean towards sustainable business models.

Amber Group, a major player in the crypto and blockchain world, created a stir in the market this week with a big movement of the AI token $VIRTUAL. The company, with its solid market-making skills, deposited a fat 3.49 million $VIRTUAL tokens—worth about $3.04 million—into the market just 16

Citigroup mistakenly transferred $81 trillion instead of $280 to a customer due to internal flaws. The error was noticed after a few hours, causing the bank to reverse the transaction, labeling it a "near miss." Despite efforts to enhance controls, such errors have recurred, prompting the need for further automation and vigilance.

Hayden Davis, the founder of memecoin Libra (LIBRA) has now collapsed, refuting criticisms of insider trading in memecoin, arguing that investors only complain when they miss out on fat trades. Speaking in an interview with YouTube investigator Stephen Findeisen, or

VVV Airdrop allows Base Depth players to have a "fat year", with the holiday celebrity currency effect continuing, and the golden dog frequently appearing