{"id":900177,"date":"2026-04-19T13:12:26","date_gmt":"2026-04-19T18:12:26","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2026\/04\/19\/bitcoin-rebounds-but-cryptos-security-crisis-intensifies-week-in-review\/"},"modified":"2026-04-19T13:12:26","modified_gmt":"2026-04-19T18:12:26","slug":"bitcoin-rebounds-but-cryptos-security-crisis-intensifies-week-in-review","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2026\/04\/19\/bitcoin-rebounds-but-cryptos-security-crisis-intensifies-week-in-review\/","title":{"rendered":"Bitcoin Rebounds, But Crypto\u2019s Security Crisis Intensifies \u2013 Week in Review"},"content":{"rendered":"<div>\n<p data-start=\"0\" data-end=\"14\"><strong>This editorial is from last week\u2019s edition of the newsletter Week in Review. Subscribe to the newsletter to get this weekly editorial the second it\u2019s finished. The newsletter also includes the biggest stories of the week with a comment on each story.<\/strong><\/p>\n<div>\n<p data-start=\"0\" data-end=\"52\"><strong>Key Takeaways:<\/strong><\/p>\n<ul data-start=\"54\" data-end=\"354\" data-is-last-node data-is-only-node>\n<li data-section-id=\"2voysw\" data-start=\"54\" data-end=\"152\"> <span>Bitcoin<\/span> rose 4% as <span>BTC<\/span>, <span>ETH<\/span>, and <span>SOL<\/span> gained, showing risk appetite despite oil and macro stress.<\/li>\n<li data-section-id=\"1w5oenv\" data-start=\"153\" data-end=\"254\">Kraken, CoW Swap, and Hyperbridge hacks hit trust; Ethereum Foundation launched audit support next.<\/li>\n<li data-section-id=\"v97dxy\" data-start=\"255\" data-end=\"354\" data-is-last-node>Bitfinex said <span>whale<\/span> buying is the strongest since 2013; <span>Bitcoin<\/span> may test $90K as supply tightens.<\/li>\n<\/ul>\n<h2>Week in Review<\/h2>\n<\/p><\/div>\n<p><span> <span>Bitcoin<\/span> finished the week up over 4%, ethereum up 6%, and <span>solana<\/span> up 7%. This seems great if you avoid remembering that both the S&#038;P 500 and the Nasdaq broke new all-time highs yet again, despite the extreme uncertainty. <\/span><\/p>\n<p><span> <span>Gold<\/span> printed a modest green weekly candle while silver traded slightly down on the week. <span>BTC<\/span>\u2019s rebound, combined with the indices\u2019 unlikely break, suggests a return of fresh risk appetite.<\/span><\/p>\n<p><span>Kevin Warsh, the presumptive next Fed Chair, <\/span><a href=\"http:\/\/news.bitcoin.com\/ethics-filing-fed-chair-pick-kevin-warsh-lists-estee-lauder-wealth-and-crypto-stakes\/\"><span>disclosed<\/span><\/a><span> ownership across more than 30 <span>crypto<\/span> projects, which <span>crypto<\/span> market participants, desperate for any positive news, interpreted as <span>bullish<\/span> for the sector\u2019s policy future. Jeremy Allaire also sounded notably <span>bullish<\/span> on<\/span><a href=\"https:\/\/x.com\/jerallaire\/status\/2044036569405763752\" target=\"_blank\" rel=\"noopener noreferrer\"> <span>Jakarta\u2019s future<\/span><\/a><span>, a reminder that <span>crypto<\/span>\u2019s next growth story may come less from New York and more from cities where digital finance is being treated as infrastructure rather than ideology.<\/span><\/p>\n<p><span>The flow of oil out of the Middle East remains blocked. A University of Chicago professor went viral warning of<\/span><a href=\"https:\/\/x.com\/professorpape\/status\/2043500697526649019?s=46&#038;t=4Yu3wvaLPzQD5rGOeliWGw\" target=\"_blank\" rel=\"noopener noreferrer\"> <span>critical shortages<\/span><\/a><span> within ten days. <\/span><\/p>\n<p><span>Despite positive price movements, unresolved geopolitical conflict, and an ongoing oil shortage, the biggest theme of the week in <span>crypto<\/span> was security, and the ongoing threat of hacks and exploits against digital assets. <\/span><\/p>\n<p><span> <span>Solana<\/span>\u2019s multisig application <\/span><a href=\"https:\/\/x.com\/SolanaFloor\/status\/2043784662128951452\/photo\/1\" target=\"_blank\" rel=\"noopener noreferrer\"><span>Squads<\/span><\/a><span> suffered a multisig incident. <\/span><a href=\"https:\/\/x.com\/CoWSwap\/status\/2044091639606522312?s=20\" target=\"_blank\" rel=\"noopener noreferrer\"><span>CoW Swap<\/span><\/a><span> had a DNS hijacking that compromised the frontend, although the backend remained safe. <\/span><\/p>\n<p><span>Then came another incident. An exploiter allegedly hit a vulnerability in Hyperbridge,<\/span><a href=\"https:\/\/x.com\/certikalert\/status\/2043557571609731268?s=46&#038;t=4Yu3wvaLPzQD5rGOeliWGw\" target=\"_blank\" rel=\"noopener noreferrer\"> <span>minted a billion DOT<\/span><\/a><span>, and dumped it for <span>ETH<\/span>. This illustrates the costs of mistakes in <span>crypto<\/span>: when infrastructure breaks, the consequences can be immediate, absurd in scale, and brutally extractive. <\/span><\/p>\n<p><span>Meanwhile, Kraken, one of the biggest and most regulated <span>crypto<\/span> exchanges in the world, is reportedly facing<\/span><a href=\"https:\/\/x.com\/c7five\/status\/2043720915330969743?s=20\" target=\"_blank\" rel=\"noopener noreferrer\"> <span>criminal extortion<\/span><\/a><span> and believes criminal groups are trying to penetrate not just its organization, but other tech companies as well. <\/span><\/p>\n<p><span>And over all of it hovered the sobering reality of the<\/span><a href=\"https:\/\/x.com\/zooko\/status\/2039060544829960677?s=20\" target=\"_blank\" rel=\"noopener noreferrer\"> <span>AI security apocalypse<\/span><\/a><span>. That\u2019s not an attempt at melodrama. AI may be lowering the cost of attack faster than the industry can raise the quality of defense.<\/span><\/p>\n<p><span>The industry is starting to sound like it knows it has a problem.<\/span><a href=\"https:\/\/x.com\/i\/status\/2044767270262747250\" target=\"_blank\" rel=\"noopener noreferrer\"> <span>Drift\u2019s restitution steps<\/span><\/a><span> were one of the clearest examples: a major protocol trying to make users whole after a hack, while also signaling that trust now has to be actively rebuilt, not assumed. Elsewhere, the Ethereum Foundation launched an<\/span><a href=\"https:\/\/x.com\/ethereumfndn\/status\/2044071450370298009\" target=\"_blank\" rel=\"noopener noreferrer\"> <span>audit subsidy<\/span><\/a><span> for founders who need security reviews. <\/span><\/p>\n<p><span>Making security a priority is coming slowly, though. @santiagoroel said on the Empire podcast that AI-driven hacks have made <span>DeFi<\/span><\/span><a href=\"https:\/\/x.com\/theempirepod\/status\/2044057753824498024?s=20\" target=\"_blank\" rel=\"noopener noreferrer\"> <span>\u201cuninteresting\u201d now<\/span><\/a><span>. That might actually be understated. <\/span><\/p>\n<p><span>And yet, even with all of this, or perhaps because of this, <span>Bitcoin<\/span> is building a <span>bullish<\/span> case.<\/span><\/p>\n<p><span>Bitfinex says <span>whales<\/span> are on their<\/span><a href=\"https:\/\/x.com\/bitfinex\/status\/2044385759243710613\" target=\"_blank\" rel=\"noopener noreferrer\"> <span>biggest buying spree<\/span><\/a><span> since 2013, while exchange reserves have dropped to a 2017 low. Strong hands accumulating while liquid supply on exchanges keeps thinning out is typically a long-term bull\u2019s dream.<\/span><\/p>\n<p><span>@TimDraper piled on with his<\/span><a href=\"https:\/\/x.com\/TimDraper\/status\/2044084901679600066?s=20\" target=\"_blank\" rel=\"noopener noreferrer\"> <span>$250K call<\/span><\/a><span>, arguing <span>Bitcoin<\/span> can clear that level within eighteen months. @McClellanOsc added another <span>bullish<\/span> data point, saying<\/span><a href=\"https:\/\/x.com\/mcclellanosc\/status\/2043509192108167320?s=46&#038;t=4Yu3wvaLPzQD5rGOeliWGw\" target=\"_blank\" rel=\"noopener noreferrer\"> <span>smart money positioning<\/span><\/a><span> in futures suggests that <span>Bitcoin<\/span> has already formed its bottom. CryptoQuant CEO Ki Young Ju offered another framing, suggesting Michael Saylor\u2019s cost basis may be becoming the benchmark <\/span><a href=\"https:\/\/x.com\/ki_young_ju\/status\/2044045282388914542?s=46&#038;t=4Yu3wvaLPzQD5rGOeliWGw\" target=\"_blank\" rel=\"noopener noreferrer\"><span>value zone<\/span><\/a><span> for <span>BTC<\/span>. <\/span><\/p>\n<p><span>As for a relief rally, @zerohedge claims <span>Bitcoin<\/span> is in the middle of<\/span><a href=\"https:\/\/x.com\/zerohedge\/status\/2043826897512005853\" target=\"_blank\" rel=\"noopener noreferrer\"> <span>retesting $90K<\/span><\/a><span> after finally breaking its diagonal resistance.<\/span><\/p>\n<p><span>Bitmine\u2019s growing dominance in <span>ETH<\/span> continued to hog center stage. The company <\/span><a href=\"https:\/\/www.prnewswire.com\/news-releases\/bitmine-immersion-technologies-bmnr-announces%5B%E2%80%A6%5Dypto-and-total-cash-holdings-of-11-8-billion-302740122.html\" target=\"_blank\" rel=\"noopener noreferrer\"><span>says<\/span><\/a><span> it now owns over 4% of supply and is closing in on its \u201cAlchemy of 5%\u201d target.<\/span><\/p>\n<p><span>Following the alleged<\/span><a href=\"https:\/\/x.com\/diststateandme\/status\/2042384836418289931?s=46&#038;t=4Yu3wvaLPzQD5rGOeliWGw\" target=\"_blank\" rel=\"noopener noreferrer\"> <span>rug<\/span><\/a><span> in Bittensor\u2019s subnet 3 (SN3), TAO had another down week, while @AlgodTrading is no longer <\/span><a href=\"https:\/\/x.com\/AlgodTrading\/status\/2044553987832029694\" target=\"_blank\" rel=\"noopener noreferrer\"><span>as optimistic<\/span><\/a><span> as he was before. <\/span><\/p>\n<p><span>Not all risk appetite disappeared. It just showed up in more degenerate places.<\/span><\/p>\n<p><span>A<\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/ravedao?chart=type%3Dprice%26mode%3Dline%26timeframe%3Dd30\" target=\"_blank\" rel=\"noopener noreferrer\"> <span>random shitcoin<\/span><\/a><span> called RaveDAO (RAVE) is up 6113.5% in the last month and has climbed to the 26th-largest coin by <span>market cap<\/span>. That is the sort of thing that makes the whole market look both alive and mentally ill at the same time. ZaxhXBT essentially <\/span><a href=\"https:\/\/x.com\/zachxbt\/status\/2043892735418216486\" target=\"_blank\" rel=\"noopener noreferrer\"><span>labeled<\/span><\/a><span> the project a scam.<\/span><\/p>\n<p><span>Meanwhile, Arkham reported that an anonymous person on CT with 5,000 followers made<\/span><a href=\"https:\/\/x.com\/arkham\/status\/2043979263192510560\" target=\"_blank\" rel=\"noopener noreferrer\"><span> $30 million shorting shitcoins<\/span><\/a><span>. Signs of life in the <span>NFT<\/span> space are yet to be found. Steve Aoki sold <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-are-nfts\/\" target=\"_blank\" rel=\"noopener noreferrer\">NFTs<\/a> he bought for $800,000 for just<\/span><a href=\"https:\/\/x.com\/arkham\/status\/2043602795732091135?s=46&#038;t=4Yu3wvaLPzQD5rGOeliWGw\" target=\"_blank\" rel=\"noopener noreferrer\"> <span>$13.8K total<\/span><\/a><span>. <\/span><\/p>\n<p><span>One of the more important background stories this week is that <a href=\"http:\/\/www.bitcoin.com\/get-started\/a-quick-introduction-to-crypto\/\" target=\"_blank\" rel=\"noopener noreferrer\">crypto<\/a><\/span><a href=\"https:\/\/x.com\/dantwany\/status\/2042694249603547174?s=20\" target=\"_blank\" rel=\"noopener noreferrer\"> <span>investors stopped writing<\/span><\/a><span> checks. In 2022, 5,345 unique investor names appeared in deals, but in the last 90 days, that number shrank to 377. That stat should matter more than it probably will in the moment.<\/span><\/p>\n<p><span>A market can rally while venture appetite dries up. In fact, that combination often tells you something useful: liquid names may still run, but the willingness to finance new risk is fading. That is usually a sign that investors are becoming more selective, more skeptical, or both.<\/span><\/p>\n<p><span>That also helps explain why hacks feel especially toxic right now. Security failure is no longer happening in an environment of abundant patience and endless capital. It is happening in an environment where trust is already scarce.<\/span><\/p>\n<p><span>This was also a week where macro kept pushing its way into the <a href=\"http:\/\/www.bitcoin.com\/get-started\/a-quick-introduction-to-crypto\/\" target=\"_blank\" rel=\"noopener noreferrer\">crypto<\/a> frame.<\/span><\/p>\n<p><span>These stories may feel disconnected, but they are not. They all point to the same world: one where political transition, supply strain, regional adoption, and monetary risk are blending together. <a href=\"http:\/\/www.bitcoin.com\/get-started\/a-quick-introduction-to-crypto\/\" target=\"_blank\" rel=\"noopener noreferrer\">Crypto<\/a> no longer lives outside that world. It is one of the clearest mirrors of it.<\/span><\/p>\n<p><i><span>-Alex Richardson<\/span><\/i><\/p>\n<\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/bitcoin-rebounds-but-cryptos-security-crisis-intensifies-week-in-review\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Alex Richardson<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This editorial is from last week\u2019s edition of the newsletter Week in Review. Subscribe to the newsletter to get this weekly editorial the second it\u2019s finished. The newsletter also includes the biggest stories of the week with a comment on each story. Key Takeaways: Bitcoin rose 4% as BTC, ETH, and SOL gained, showing risk<\/p>\n","protected":false},"author":1,"featured_media":900178,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4041,33484],"tags":[],"class_list":{"0":"post-900177","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"category-rebounds"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/900177","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=900177"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/900177\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/900178"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=900177"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=900177"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=900177"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}