North Korea’s “ClickFake” Hack, Extsy Exchange Launch, Bybit Web3 Shutdown
North Korea’s crypto hacks, Toncoin’s breakout potential, new exchange launches, and Bitcoin’s resilience amid stock chaos.
Key Takeaways
Web3 Security: Prioritize training + tools like Web3 Antivirus.
Toncoin Watch: Telegram’s ecosystem could drive TON demand.
New Player: Extsy’s gasless model may disrupt exchanges.
Bybit Deadline: Migrate assets before April 8.
Market Shift: Crypto’s hedge status grows amid stock turmoil.
Hi, This is Akash & Welcome to Web3 Daily Update | 04th April 2025
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North Korea’s “ClickFake” Hack
What Happened: North Korea’s state-backed “ClickFake” phishing campaign exploited Web3’s weakest link: human error.
Hackers impersonated trusted platforms to steal credentials from crypto teams (Crypto.news, April 4).
Why This Matters:
Web3’s Achilles’ Heel: 60% of Web3 employees face phishing, social engineering, or malware threats (Oak Security). Unlike TradFi’s ironclad protocols, decentralized teams often lack basic cybersecurity training.
State-Sponsored Threats: North Korea’s Lazarus Group has stolen $3B+ in crypto since 2017 (Chainalysis). ClickFake signals a shift to targeting developers, not just users.
Q1 Losses: Crypto hacks hit $1.63B in Q1 2025 (PeckShield), with bridges, exchanges, and DeFi protocols as prime targets.
Solutions to Fix Web3 Security:
Mandatory OPSEC Training: Require 2FA, hardware wallets, and phishing simulations for teams.
Web3 Antivirus Tools: Platforms like Halborn or CertiK Skynet monitor smart contracts and wallets in real-time.
Decentralized Identity (DID): Adopt soulbound tokens (SBTs) to verify team members and reduce impersonation risks.
Can Telegram’s Token Defy Market Volatility?
What Happened: Toncoin’s price teeters near a key reversal zone after Bitcoin’s drop to $82,879 (U.Today, April 4).
Analysts debate whether TON’s link to Telegram’s 900M users will fuel a breakout.
Key Drivers for Toncoin:
Telegram Ecosystem Synergy: TON powers Telegram’s ad revenue sharing and in-app payments. Recent upgrades allow gas-free micropayments for 50M+ Telegram Premium users.
Technical Signals: Analysts watch the 7.20 support level (critical for bullish momentum) A drop below 6.50 could trigger panic selling.
Market Sentiment: Fear & Greed Index at 55 (neutral), suggesting traders await clearer signals from Bitcoin’s next move.
Actionable Advice:
Short-Term Traders: Set alerts for TON’s 7.20 support and 8.50 resistance levels.
Long-Term Holders: Accumulate if TON holds $6.50. Telegram’s Web3 integration is still in early stages.
Extsy Exchange Launch: Gasless Trading Meets Web2-Friendly Design
What Happened: Extsy, a new crypto exchange, launched on April 4 with gasless transactions and cross-token fee payments, aiming to onboard 10M+ Web2 users by 2026.
Why Extsy Could Disrupt the Market:
Gasless Model: Users pay fees in any token (e.g., ETH, SOL) without holding native gas coins. Backed by Ethereum’s ERC-7683 upgrade, this reduces friction for newcomers.
Institutional-Grade Security: Extsy uses MPC wallets (multi-party computation) and a $500M insurance fund, addressing concerns post-FTX collapse.
Regulatory Edge: Extsy HQ’d in Singapore, a “green zone” for crypto under the 2025 Stablecoin Bill.
Challenges Ahead:
Competing with Binance’s 170M users and Coinbase’s institutional dominance.
Proving scalability during high volatility (tested up to 1M TPS in beta).
Bybit Web3 Shutdown: How to Save Your NFTs and IDO Tokens
What Happened: Bybit Web3 discontinues NFT, Inscription, and IDO services by April 8, 16:00 UTC, urging users to migrate assets to external wallets.
Step-by-Step Migration Guide:
NFTs: Transfer to OpenSea (Ethereum) or Blur (Mantle) via Bybit’s export tool.
Inscriptions: Use UniSat Wallet (Bitcoin) or Magic Eden (Solana) — requires manual address input
IDO Tokens: Export seed phrases to wallets like MetaMask; unstake tokens before April 5.
Lessons Learned:
Bybit’s IDOs averaged 2,027% ROI, but reliance on centralized platforms risks sudden shutdowns.
Always self-custody tokens in cold wallets (e.g., Ledger, Trezor).
Crypto vs. Stocks: Bitcoin Rises 8% as Markets Plunge
What Happened: Bitcoin climbed to $84,200 amid a 2,200-point Dow drop and 6% S&P crash (CNBC, April 4), reinforcing crypto’s “digital gold” narrative.
Behind the Numbers:
Macro Drivers: Rising U.S.-China tariffs crushed tech stocks, pushing investors to uncorrelated assets like BTC.
On-Chain Data: Bitcoin whales bought 12,000 BTC during the dip, per CryptoQuant.
Retail Sentiment: Google Trends for “buy crypto” spiked 300% post-market crash.
What’s Next?
A Bitcoin ETF approval in Q2 could trigger institutional FOMO.
Watch the $80K support level — a break below may signal short-term bearish momentum.
FAQ: Your Web3 Security & Market Questions Answered
Q: How do I protect my team from phishing attacks?
A: Use hardware wallets for treasury funds, run monthly phishing drills, and whitelist wallet addresses.
Q: Should I buy Toncoin now?
A: Only if you believe in Telegram’s Web3 adoption. Diversify with BTC/ETH first.
Q: What’s the safest way to trade on new exchanges?
A: Enable 2FA, use disposable API keys, and never leave assets on the platform.
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