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BlockBeats News, April 3rd, according to Coinglass and this morning, the XPL token price experienced intense volatility. From 1:00 to 5:00, XPL saw a straight-line surge of 42%, reaching a high of $0.167; however, starting at 5:10, the price plunged over 40% in less than 5 minutes, dropping below $0.12, erasing all the intraday gains. Prior to the price surge, five new addresses on Hyperliquid deposited funds simultaneously around 1:00 am, with each transaction exceeding $200,000, totaling around $1.292 million. They then heavily leveraged long XPL positions, seemingly coordinating buy orders on other exchanges to boost the price. During this time, the five addresses made substantial unrealized profits, more than doubling their initial investment. From 4:30 to 4:40, the five addresses withdrew all the released margin and unrealized profits, liquidating their positions, causing the liquidation price to surge close to the liquidation threshold. At 5:10, the five addresses were liquidated simultaneously at around $0.12971, triggering a sharp price drop, likely coordinating a sell-off with spot markets. The five addresses collectively made a profit of around $1.602 million. During the surge, several prominent short whales were precisely targeted for liquidation. Shorts from addresses (0xbe1), (0x51f), "Crude and Brent Oil Mainnet Bears" (0x985), (0x45d) were all liquidated during the upswing, resulting in a total closure of short positions exceeding $32.99 million. All fund sources point to the on-chain address: 0xBc1D9760bd6ca468CA9fB5Ff2CFbEAC35d86c973 Insider Whale Addresses: 1. 0x0e321565595044b32784fc983d38bfe57ddee62c 2. 0x763a5940ccb568e594a9ceb4b1d88d60dec8ea08 3. 0x1b546e2a2f10d30245502d6bdb11bba23719597f 4. 0x1a1cc7a769b233f29e09050fe383a37c46bcdbdf 5. 0xfb8fe47311c92345b8fc152f697212595a778915

Foresight News reported that Drift Protocol has sent an on-chain message to the ETH wallet holding the stolen funds. The team stated that the attacker can contact them via Blockscan chat.

BlockBeats News, April 3rd. an exchange DeepThink columnist and an exchange Research researcher Chloe (@ChloeTalk1) analyzed and pointed out that after Trump's latest national speech on Iran, there has been a key leap in the macro environment. The market has transitioned from being dominated by financial variables of "high interest rates + inflationary constraints" to a new stage further compounded by "geopolitical conflict-driven supply shock + policy uncertainty." The price of crude oil quickly broke through $100 (WTI> 103), the risk premium for the Strait of Hormuz rose significantly, U.S. bond yields rose in tandem. The market interpreted this as a combination of "higher inflation, longer tightening cycle," forming a dual negative feedback loop of liquidity tightening and rising discount rates on risk assets. For the crypto market, the key is whether the global risk budget has been compressed. The rise in oil prices is essentially a redistribution of global liquidity—more funds are being passively used for energy costs and inflation hedging, reducing the marginal funds flowing into risk assets. Within this framework, BTC is unlikely to break out of an independent trend in the short term, more likely to show "relative resilience" rather than a trending uptrend; altcoins, high-beta assets, and AI narrative coins face more obvious liquidity drain and valuation compression. It is worth noting that in this round, gold and silver fell simultaneously, indicating it is not a traditional "safe haven trade" but a typical liquidity shock—funds are reducing overall risk exposure. Although BTC has a macro hedging narrative, it is still a highly volatile risk asset in actual trading, and its performance will largely follow liquidity changes. Overall, the market is entering a liquidity contraction stage dominated by geopolitical conflicts. The short-term trend is deleveraging and repricing. There will be a clear differentiation within the crypto market: BTC is relatively resilient but lacks liquidity-driven upward momentum, ETH and layer-one assets rely on capital inflows, and most altcoins are still in a passive devaluation process. The real turning point depends on the mitigation of two variables: whether the energy supply shock can be alleviated and whether there can be a reappearance of downward rate expectations.