Technical Analysis

Matrixport: The current trend model remains bearish, but it will turn bullish if it breaks above $103,000

ChainCatcher news, Matrixport indicates that according to the Bollinger Bands measurements, the lower band of Bitcoin is gradually expanding, showing an increased risk of decline, but after a reversal, it may provide a favorable risk/reward entry point for bulls. Currently, the greed and fear index is close to the critical 10% level, and the 30-day rolling return rate is close to 10%. These indicators typically suggest that the downtrend may slow or reverse.Although Bitcoin remains above the 21-week moving average and is technically in a bull market, the momentum has turned bearish. The minting and trading volume of stablecoins has significantly decreased, DeFi activity has reduced, Bitcoin's dominance has risen, and funds have flowed back from altcoins to Bitcoin, leading to a weakening of market speculative sentiment.Historical data shows that when Bitcoin rises over 40% within 30 days, it usually peaks or enters a consolidation phase. Currently, the trend model remains bearish, but it will turn bullish if it breaks above $103,000. As the consolidation period extends, the trigger point for bullish signals decreases, increasing the likelihood of a reversal.Bitcoin is currently attempting to maintain the $90,000 level, primarily driven by the flow of funds back from altcoins rather than new capital inflows. The market trend is momentum-driven, and traders need to manage risks cautiously while seeking opportunities amid volatility. Despite the overall market momentum being weak, Bitcoin has shown some resilience due to its relative safety.

Beosin: Technical Analysis of the Gas Theft Attack Incident on FTX

ChainCatcher message, the Beosin security team analyzed the Gas theft attack incident on FTX, stating that taking one of the attack transactions as an example (0x8eb73bd5c08318a4cfd233940c3a58744830cda999e59ecbc56f094618a91d69), the attacker first deployed the attack contract on-chain (0xCba9b1Fd69626932c704DAc4CB58c29244A47FD3).The FTX hot wallet address transfers small amounts of funds to the attack contract address, using the attack contract (0xCba9...7FD3) to batch create subcontracts. Due to the large number of contracts created during the entire attack, each time a subcontract is executed, it self-destructs.Next, the subcontract's fallback() function initiates a minting request to the Xen contract. The following function, claimRank(), takes a time limit (minimum of 1 day) for minting, with the condition that only the gas fee for the call needs to be paid, and there are no other costs. The claimMintReward() function is the withdrawal function, which only checks whether the time limit has been reached (the time limit set by the hacker this time is the minimum of 1 day), allowing for unconditional withdrawal. However, during this call process, the transaction initiator is the FTX hot wallet address, so the entire gas cost of the call process is paid by the FTX hot wallet address, while the Xen minting address is the attacker's address.The first three steps are repeated multiple times, and during each repetition, the expired tokens are withdrawn, while simultaneously initiating new minting requests.As of the time of writing, through Beosin Trace tracking, it was found that the FTX exchange lost 81 ETH, and the hacker exchanged XEN Tokens for ETH through DODO and Uniswap.
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