Abu Dhabi&#8217;s financial regulator has fined crypto firm Hayvn and its CEO more than $12 million for AML breaches and unlicensed activity. The Financial Services Regulatory Authority of Abu Dhabi Global Market has taken enforcement action against Hayvn Group and…

Abu Dhabi regulator fines crypto firm and its CEO over $12m over unlicensed activity

Ethereum has re-entered a multi-year trading range, showing continued weakness 
with no signs of bullish momentum. With price now hovering near the channel 
midpoint, technical indicators suggest the potential for a full rotation back 
to the range low — a…

Ethereum on thin ice: is a drop below $1,000 imminent?

A hacker compromised a ZKsync admin account on April 15, minting $5 million 
worth of unclaimed airdrop tokens, according to a statement from the official 
ZKsync X account. The attack was described as isolated, with no user funds 
affected.
Following an investigation, ZKsync detailed the incident on April 15, 
disclosing that the compromised account had administrative control over three 
airdrop distribution contracts. The attacker exploited a function called 
sweepUnclaimed() to mint 111 million unclaimed ZK tokens, increasing the total 
token supply by 0.45%. As of the latest update, the attacker still held 
control of most of the stolen funds.
_Source:__ZKsync_
ZKsync is coordinating recovery efforts with the Security Alliance (SEAL). 
According to the protocol, its governance and token contracts are unaffected. 
The company stated that no further exploits are possible via the 
&#8220;sweepUnclaimed()&#8221; vector.
ZKsync is an Ethereum layer-2 protocol that processes main-layer transactions 
in batches using a technology called zero-knowledge rollups. The ZKsync Era 
platform has $57.3 million in total value locked as of April 15, according to 
DefiLlama. ZKsync had been in the process of airdropping 17.5% of its token 
supply to ecosystem participants.
_**Related:**__**DeFi platform KiloEx offers $750K bounty to hacker**_
## ZK token drops 7% in 24-hour trading
ZKsync&#8217;s token, ZK (ZK), saw volatile price action in the wake of the hack and 
the project&#8217;s public disclosure on X. Around 1:00 pm UTC, the token had 
dropped 16%, falling to $0.040 before rebounding to $0.047 at the time of 
writing. Despite the bounce, ZK remains down 7% over the past 24 hours.
Overall, $2 billion has been lost to crypto hacks in the first quarter of 2025 
alone, just $300 million less than the total lost in 2024.
_**Magazine: Lazarus Group &#8216;s favorite exploit revealed &#8212; Crypto hacks 
analysis**_

Hacker mints $5M in ZK tokens after compromising ZKsync admin account

CleanSpark will start selling a portion of the Bitcoin earned from its mining 
operations each month in a bid to become financially self-sufficient, the US 
Bitcoin miner said on April 15.
In addition, CleanSpark secured a $200 million credit facility backed by 
Bitcoin (BTC) through an agreement with Coinbase Prime, the institutional 
brokerage division of the crypto exchange, according to a statement.
Together, the Bitcoin sales and credit line mean CleanSpark has &#8220;achieved 
escape velocity &#8212; the ability to self-fund operations, augment our bitcoin 
treasury, and contribute to expansion capital through operational cash flow,&#8221; 
Zach Bradford, CEO of CleanSpark, said.
CleanSpark has opened an institutional Bitcoin trading desk to facilitate the 
cryptocurrency sales, it added.
_Crypto mining stocks are down sharply in 2025. Source:__Morningstar_
 _**Related:**__**Bitdeer turns to self-mining Bitcoin, US operations amid 
tariff tumult &#8212; Report**_
## Navigating market volatility
The Bitcoin miner&#8217;s emphasis on self-funding comes as mining stocks reel from 
across-the-board selloffs in the first quarter of 2025.
Shares of CoinShares Crypto Miners ETF (WGMI) &#8212; a publicly traded fund 
tracking a diverse basket of Bitcoin mining stocks &#8212; are down more than 40% 
since the start of the year, according to data from Morningstar.
&#8220;[W]e believe this is the right time to evolve from a nearly 100% hold 
strategy adopted in mid-2023 and move back using a portion of our monthly 
production to support operations,&#8221; Bradford said.
Cheaper stock prices effectively increase Bitcoin miners&#8217; cost of capital and 
can potentially cause creditors to demand faster loan repayments.
Analysts at JP Morgan attributed the downturn to eroding cryptocurrency 
prices, which added pressure to business models already strained by the 
Bitcoin network&#8217;s April 2024 halving.
Halvings occur roughly every four years when the Bitcoin network automatically 
cuts mining rewards in half.
_Price per Bitcoin versus network hashrate. Source: JPMorgan_
In April, pressure on mining stocks worsened when US President Donald Trump 
announced plans for sweeping tariffs on US imports.
US Bitcoin miners are especially vulnerable to trade wars because they rely on 
specialized mining hardware, often sourced from foreign manufacturers. 
Bradford said he expects CleanSpark&#8217;s financial self-sufficiency to 
differentiate it from peers &#8220;who continue to rely on equity dilution to fund 
operating costs or increased leverage to grow their Bitcoin reserves.&#8221;
Other miners are taking similarly aggressive measures to adapt to the changing 
market.
Bitdeer, a Singapore-based crypto miner, has reportedly touted plans to start 
manufacturing mining hardware in the United States to mitigate the impact of 
Trump&#8217;s planned import tariffs.
_**Magazine: **__**Illegal arcade disguised as … a fake Bitcoin mine? Soldier 
scams in China: Asia Express**_

CleanSpark to start selling Bitcoin in 'self-funding' pivot

Bitcoin dipped about 0.8% on Tuesday afternoon, declining from $86,450 to 
$83,904. The pullback coincided with a broader retreat in equities, as Wall 
Street closed lower amid continued anxiety over tariffs rippling across 
financial markets. Equities and Crypto Both Drift Lower as Tariff Uncertainty 
Weighs on Traders As of 4:50 p.m. EDT on Tuesday, Apr. […]

Bitcoin Slides Under $84K as Market Caution Deepens Across Crypto and Wall Street

Ethereum is trading above the $1,600 mark after a turbulent period marked by 
heightened volatility and growing uncertainty surrounding global trade 
policies. As US President Donald Trump&#8217;s tariff measures continue to shake 
investor sentiment, crypto markets have struggled to find direction. Ethereum, 
like the broader market, is attempting to stabilize after weeks of aggressive 
selling pressure and macroeconomic headwinds. Related Reading: XRP Tests 
Ascending Triangle Resistance – Can Bulls Reach $2.40 Level? Despite signs of 
weakness, bulls are now trying to regain control. However, price action still 
suggests the downtrend may not be over yet. ETH must reclaim key levels to 
confirm short-term momentum for any meaningful recovery to unfold. Until then, 
caution dominates the market outlook. Glassnode data provides a hopeful 
perspective for Ethereum bulls. According to on-chain metrics, the most 
critical support level currently sits at $1,546.55—where whales accumulated 
over 822,440 ETH. This level could serve as a strong foundation for a bounce 
if tested again, as historically, zones with heavy accumulation tend to 
attract renewed buying interest. The coming days will be crucial for 
Ethereum’s trajectory. Holding above this support while pushing into higher 
resistance could be the catalyst needed to reignite bullish sentiment and 
reverse recent losses. Ethereum Tests Key Resistance As Bulls Eye Recovery 
Ethereum has surged more than 20% since last Wednesday’s low near $1,380, 
generating renewed optimism among investors hoping for a broader market 
recovery. Currently trading around key resistance levels, ETH appears to be 
forming a base for a potential breakout that could mark the beginning of a new 
upward phase. However, the path forward remains uncertain as global 
macroeconomic conditions continue to weigh heavily on market sentiment. 
Growing speculation of a policy shift following US President Donald Trump’s 
announcement of a 90-day tariff pause for all countries except China sparked 
the recent surge. This decision triggered a temporary risk-on sentiment across 
global markets, with cryptocurrencies benefiting from the momentum. Still, 
concerns about long-term US foreign policy and lingering trade tensions have 
left many investors cautious. While some analysts believe that Ethereum has 
already priced in the worst of the selloff, others warn that we may only be in 
the early stages of a broader bear cycle. Despite the divergence in outlooks, 
on-chain data suggests that a major support level has formed. According to 
analyst Ali Martinez, the most critical support for Ethereum sits at 
$1,546.55—an area where more than 822,440 ETH were previously accumulated. 
This level is being closely monitored as a potential pivot zone. If bulls can 
maintain price action above this threshold and successfully push through 
current resistance, it could trigger a strong continuation rally and restore 
confidence in the altcoin market. Until then, Ethereum remains at a 
crossroads, with the next move likely to be shaped by a combination of market 
momentum, geopolitical developments, and investor conviction. Related Reading: 
Dogecoin Gears Up For A Breakout To $0.29: Can Bulls Hold Key Support? ETH 
Price Struggles at Resistance: Bulls Must Reclaim $1,875 Ethereum is trading 
at $1,630 after setting a fresh 4-hour high around $1,691, slightly above the 
previous local peak. The short-term price structure suggests that bulls are 
trying to regain momentum, but the recovery remains uncertain without a clear 
breakout above key resistance levels. For Ethereum to confirm a true reversal 
and enter a bullish recovery phase, it must reclaim the $1,875 level — a zone 
that aligns with both the 4-hour 200-day moving average (MA) and exponential 
moving average (EMA). This critical level has acted as a major barrier since 
the downtrend began, and breaking above it would signal a shift in trend and 
market sentiment. However, failing to push beyond this range could send ETH 
back to retest the $1,500 support zone or even lower. Related Reading: Solana 
Triggers Long Thesis After Pushing Above $125 – Start Of A Bigger Rally? The 
$1,600 level now acts as a key psychological and technical threshold. Holding 
above it is essential for bulls to keep short-term momentum alive and prevent 
another sharp selloff. As macroeconomic uncertainty and market volatility 
continue, Ethereum’s next move depends heavily on whether bulls can defend 
current support and build enough strength to break above the $1,875 resistance 
zone. Featured image from Dall-E, chart from TradingView