Today in crypto: EVM wallet drain, 2025 busiest chains, BTC bear
Key developments in crypto today include a broad exploit draining funds from “hundreds” of wallets across Ethereum Virtual Machine (EVM) networks, fresh rankings of the most active blockchains in 2025 from Nansen, and a CryptoQuant metric indicating Bitcoin may have entered a bear market two months ago.
‘Hundreds’ of EVM wallets drained in broad attack: ZachXBT
An attacker drained “hundreds” of cryptocurrency wallets on EVM-compatible chains, extracting small amounts from each address, according to on-chain investigator ZachXBT. The incident appears to be widespread across multiple networks rather than confined to a single chain.
ZachXBT said losses per wallet were generally below $2,000. Cybersecurity researcher Vladimir S. said a phishing email impersonating Web3 wallet provider MetaMask may have been used as the attack vector, citing a clue referenced by a pseudonymous X user.
Cybersecurity firm Hackless described the activity as automated, large-scale exploitation and advised users to revoke smart contract approvals and continue monitoring their addresses. Vladimir S. also suggested a possible link to the Trust Wallet hack reported on Christmas, referencing another pseudonymous X user.
The spoofed MetaMask email might be the cause of the EVM wallet drain, according to Vladimir S. Source: Vladimir S.
The five busiest blockchains in 2025 and the drivers behind their growth
On-chain analytics firm Nansen ranked Solana, BNB Chain, Base, Tron, and NEAR Protocol as the most active blockchains in 2025 by transaction count.
Solana led with 23.01 billion transactions, followed by BNB Chain with 3.89 billion. Base, Coinbase’s Ethereum layer-2 network, processed 3.29 billion transactions, while Tron recorded 3.22 billion and NEAR reached 1.89 billion.
Despite increasing institutional participation in 2025, retail-focused applications continued to account for the bulk of transaction activity, particularly on low-fee, high-throughput networks.
Solana’s position was supported by a trading surge that pushed it to the top of decentralized exchange (DEX) rankings early in 2025. CoinGecko reported Solana-based DEXs captured 40% of industry market share, recording $293.7 billion in trading volume in the first quarter of 2025, aided in part by memecoin activity tied to celebrity and political tokens such as $TRUMP, a Solana token launched on Jan. 18 associated with US President Donald Trump.
Top five blockchains by activity in 2025. Source: Nansen
Metric indicates Bitcoin has been in a bear market for two months
Bitcoin may have been in a bear market since early November, based on multiple indicators tracked by CryptoQuant, said the firm’s head of research, Julio Moreno, during an episode of the Milk Road show on Thursday. Moreno noted that most inputs to CryptoQuant’s bull score index turned bearish at that time and have not yet recovered.
The bull score index aggregates indicators such as network activity, investor profitability, demand for Bitcoin, and liquidity on a 0–100 scale. Moreno added that a key technical confirmation is Bitcoin trading below its one-year moving average.
As of Friday, Bitcoin was trading around $88,543. Moreno expects the bear market bottom to form in the $56,000 to $60,000 range over the next year, citing Bitcoin’s realized price and historical patterns.
Source: YouTube
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