Last week, Cryptocurrency inflows climbed to nearly $2.2 billion. Setting a record driven by the monetary policy of the Federal Reserve and the recent elections in the United States. This flow brings the total for the year to USD 33.5 billion. Meanwhile, assets under management reached an all-time high of $138 billion, according to CoinShares.
Bitcoin led investments with $1.48 billion in inflows. However, a recent price increase sparked profit-taking, resulting in outflows of $866 million towards the end of the week. Additionally, Bitcoin shorts recorded $49 million in inflows, highlighting hedging strategies among investors.
Ethereum, after weeks of outflows, rebounded with inflows of USD 646 million. This optimism is attributed to Justin Drake’s upgrade proposal, which seeks to reduce staking requirements from 32 ETH to 1 ETH, making the network more accessible to users.
Polter Finance hack leaves Fantom losing millions
Decentralized lending platform Polter Finance suffered a devastating attack on the Fantom Blockchain, resulting in the loss of the majority of its assets. The vulnerability, discovered early Sunday morning, allowed token prices to be manipulated, leaving estimated losses of up to $12 million.
The attacker used Tornado Cash to hide the origin of the funds, subsequently transferring them to Fantom, where he executed the exploit. Following the attack, Polter Finance paused its operations and notified key network operators to mitigate the impact.
Polter Finance’s pseudonymous founder “Whichghost” filed a complaint in Singapore and revealed personal losses of $223,219. Although official reports put the losses at USD 12 million, independent analyzes suggest that the real amount could be around 7 million.
Before the attack, Polter Finance’s total value locked (TVL) was $9.7 million, according to DeFiLlama. The team confirmed that they are tracking the wallets involved and working with Binance and authorities to investigate the incident.
Nepal detects increase in cryptocurrency fraud despite its ban
Nepal’s Financial Intelligence Unit (FIU) has revealed that cryptocurrencies are being widely used for cyber fraud, despite the official ban on digital asset trading in the country.
In its strategic report published on November 18, the FIU, part of the Central Bank of Nepal (Rastra Bank), warned about the growing use of cryptocurrencies to launder illicit funds. Scammers convert illegal money into crypto assets, making it difficult for authorities to trace and recover them.
Additionally, the ease of transferring cryptocurrencies to offshore accounts further complicates investigations. While the illegality of the trade deters many victims from reporting these crimes, for fear of retaliation or embarrassment.
The report also highlights that Nepalese citizens are increasingly vulnerable to cryptocurrency investment scams. Promoted through social media and online ads with unrealistic promises of quick profits.
Metaplanet Inc. will issue bonds to buy more Bitcoin
The Japanese firm Metaplanet Inc. has announced the issuance of ordinary bonds for 1,750 million yen (11.3 million dollars) with the aim of acquiring more bitcoins. The company, which is listed on the Tokyo Stock Exchange, reported that the bonds will have an annual interest of 0.36% and will be repaid on November 17, 2025.
Simon Gerovich, CEO of Metaplanet, confirmed the plans on X writing: “More bitcoin purchases are coming.” Currently, the company holds 1,018.17 BTC, valued at approximately $93.5 million, establishing itself as one of the largest corporate holders of Bitcoin in Asia.
Since May, Metaplanet has embraced Bitcoin as a strategic reserve asset, bolstering this strategy with moves such as recently raising 10 billion yen ($66 million) through a stock vesting exercise.
The company’s shares closed on Monday with a rise of 0.81%, reaching 1,994 yen, accumulating growth of 1,146% so far this year. This performance exceeds the Nikkei 225 index, which fell 1.09% on the day.
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