BeWater Weekly (March 12–March 18)

🐟 Collaboration Ecosystem

1/ The Virtuals Hackathon, hosted by Virtuals Protocol @virtuals_io, BASE @base, and OpenBuild @OpenBuildxyz, and supported by BeWater, will take place from March 13 to April 21.

👉 Registration link: https://t.co/SREDh2gYD6

2/ The AMA co-created by Exvul Security @exvulsec, Bitget Wallet @BitgetWallet, and BeWater, with the theme: "On-chain market is hot, how to safely catch the next 1000x golden dog with Bitget Wallet," will be held on March 21, 8:30 PM - 9:30 PM (UTC+8).

👉 AMA link: https://t.co/enjfTRhPrZ

3/ The Monad Testnet AMA, hosted by Monad @monad_xyz and OpenBuild @OpenBuildxyz, and supported by BeWater, will be held on March 20, 8:00 PM (UTC+8).

👉 AMA link: https://t.co/7EmdJUbxBy

4/ The registration channel for ETH Hangzhou 2025, hosted by Zhejiang University Blockchain Association @BlockchainZJU and supported by BeWater, is now open. The offline Hackathon will be held from March 29 to March 31.

👉 Registration link: https://t.co/7OXqrlya9T

5/ The "TON Ecosystem Development Open Class & Programming Challenge 2025," hosted by TON @tonsocietyhk and supported by BeWater, officially started on March 17.

👉 Registration link: https://t.co/oUqx5mKPzW

📰 Key News

(1) OKX Suspends DEX Aggregator After Lazarus "Abuse" and Increased EU Scrutiny

OKX has suspended its DEX aggregator service after discovering that the Lazarus Group abused the service, which was linked to the laundering of proceeds from the $1.5B Bybit hack. The suspension was implemented under increased scrutiny from EU regulators, who are reviewing whether OKX's DeFi services comply with the EU's Markets in Crypto-Assets (MiCA) guidelines. OKX stated that the decision was made to proactively implement upgrades and prevent further abuse in the face of increasingly competitive attacks.

(2) EOS Network Renames to Vaulta, Pivots to Web3 Banking

The EOS Network, originally launched in 2018, has been renamed Vaulta, with a new focus on Web3 banking, scheduled to launch at the end of May. The rebranding includes a new token — the Vaulta Token — which will replace the EOS token and be available on nearly 140 exchanges and one swap portal. Vaulta will maintain the EOS Network's infrastructure, integrate with Bitcoin digital banking solution exSat, and partner with Ceffu, Spirit Blockchain, and Blockchain Insurance Inc.

(3) AI Cryptocurrency Bot AIXBT Loses $100K Worth of ETH

AIXBT, an AI cryptocurrency market commentary bot, lost approximately $100K worth of ETH due to a "dashboard access hack" that exploited its simulated wallet. The attack involved malicious prompts that led AIXBT to send approximately 55 ETH to the attacker, but did not affect the bot's core systems. The bot, built on the Virtual Protocol, is known for analyzing market sentiment and providing real-time analysis, accessible via the AIXBT token. The team behind AIXBT has suspended the data dashboard, exchange server, and migrated keys to enhance security and prevent further breaches.

(4) Telegram CEO Pavel Durov Granted Permission to Leave France

Telegram founder Pavel Durov was granted court approval on March 13 to move from France to Dubai. The move to Dubai is due to its friendly business environment and the absence of extradition treaties with many countries. The specific terms of the French court's ruling allowing Durov to leave have not been disclosed.

(5) Solana Community Rejects SIMD-228 Proposal to Reduce Token Issuance

The Solana community voted against the SIMD-228 proposal, which aimed to reduce $SOL token emissions by transitioning to a dynamic staking-based model. The proposal, drafted by Tushar Jain and Vishal Kankani of Multicoin Capital, required a two-thirds majority to pass but received only 61.6% support. Despite the proposal's failure, approximately 74% of staked $SOL from 910 validators participated in the vote, which is seen as a positive sign for Solana's governance process.

📊 Data Performance

(1) A report from Stablecoin Artemis and Dune shows that the number of active stablecoin wallets increased by 53% from February 2024 to February 2025, from 19.6M to 30M, indicating higher user engagement. Stablecoins have become an important link between traditional finance and cryptocurrency, with increasing use in payments, DeFi, and institutional adoption driving growth. The total supply of stablecoins increased by 63% year-over-year, from $138B in February 2024 to $225B in February 2025. Monthly stablecoin transfer volume increased by 115% year-over-year, from $1.9T to $4.1T, peaking at $5.1T in December 2024.

(2) DEX Ethereum's decentralized exchange (DEX) trading volume fell by 34% in one week, affecting Layer 2 solutions such as Base, Arbitrum, and Polygon, while DEX activity on competitors such as Solana and SUI also declined. BNB Chain's DEX activity grew by 27%, with PancakeSwap generating $22.3M in fees, surpassing Uniswap, highlighting Ethereum's declining fee competitiveness. Ethereum remains the leader with $47.2B in total value locked (TVL), but a weekly drop of 9% narrowed the gap with competitors, with its Layer 2 ecosystem showing signs of weakness.

(3) According to Dune analyst @lz_web3's chart, Binance wallets' on-chain transaction volume reached $90.56M on March 18, accounting for 54.1% of the total transaction volume in the crypto wallet sector on that day. The number of on-chain transaction users reached 28K, accounting for 29.5% of the total number of users in the crypto wallet sector on that day, both ranking first.

📚 Recommended Reading

"Talking about the recent changes in the RWA track from the perspective of VC" — Laobai

Introduction: Have you noticed the trend of RWA in the past few months?

Original link: https://t.co/wH8tGOT4Ov

Read the full text ⬇️
https://t.co/0sbMawET1P