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MainNewsMetaMask Ann...

MetaMask Announces Bitcoin and Solana Support Improving Multi-Chain Access


Feb, 28, 2025
2 min read
by Sindhu
for TheNewsCrypto

MetaMask Announces Bitcoin and Solana Support, Improving Multi-Chain Access

  • Bitcoin & Solana Integration: Native support for BTC in Q3 2025 and SOL in May.
  • Users can pay fees with any token, reducing ETH dependency.

MetaMask has unveiled a major expansion, adding support for Bitcoin and Solana. The announcement at ETHDenver marks a shift from its Ethereum-exclusive model. These updates aim to unify digital asset management across multiple blockchains.

MetaMask will introduce Bitcoin support in Q3 2025. Users can store, send, and swap BTC natively without needing separate wallets. Solana integration will roll out in May, making it the first non-EVM chain on MetaMask. This update will enable users to access Solana’s ecosystem, interact with dApps, and swap tokens seamlessly.

Programmable Accounts and Smart Transactions

MetaMask is launching programmable accounts with Ethereum’s Pectra upgrade. This feature introduces built-in multi-sig, two-factor authentication (2FA), and AI-powered delegated access. The platform will also support ERC-5792 batched transactions, allowing users to execute multiple actions in one click. This will reduce gas fees and simplify transactions.

In March, MetaMask will introduce gas fee payments using any token. This eliminates disruptions caused by low ETH balances. The update also enhances security against front-running bots and MEV sandwich attacks. Reports suggest MetaMask swaps have already reduced these risks significantly.

MetaMask Metal Card and Multichain API

The MetaMask Metal Card is receiving an upgrade. Users will enjoy enhanced rewards and exclusive features. The wallet provider is also launching a multichain API in June. This will allow dApps to connect to multiple networks, improving interoperability. Users managing multi-chain portfolios will benefit from this streamlined approach.

MetaMask is adding support for multiple Secret Recovery Phrases (SRPs). Users will also experience profile sync across devices. Additionally, a redesigned home screen will display all assets across different chains in one place.

The company plans to eventually eliminate gas fees for users. Smart transaction features will prevent failed transactions and protect against MEV attacks. MetaMask is also transitioning from Externally Owned Accounts to smart contract-based accounts. This will improve asset management and security.

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$40 billion in crypto received by illicit addresses in 2024: Chainalysis


Feb, 28, 2025
4 min read
by Vignesh Karunanidhi
for CryptoPolitan
$40 billion in crypto received by illicit addresses in 2024: Chainalysis

Cryptocurrency use for illicit purposes totaled $40.9 billion in 2024, Chainalysis data shows. Though lower compared to the $46.1 billion observed in 2023, analysts warn that the current figure is a lower-bound estimate that will continue to rise as additional illicit addresses are recognized.

When Chainalysis released its 2023 Crypto Crime Report in January, it originally estimated $24.2 billion in criminal activity for 2023. A year later, the number has come close to doubling to $46.1 billion as more data was collected. According to historical trends, the 2024 total will increase by about 25% between reporting dates.

Stablecoins dominate illicit transactions

Stablecoins became the main player in criminal cryptocurrency activity during 2024. They were used in 63% of all criminal digital asset transactions. This is a shift from Bitcoin’s former leading role in criminal financing before 2021.

This change mirrors a 77% year-over-year increase in stablecoin usage in all crypto activity. Chainalysis, in its Geography of Cryptocurrency report, cited the useful applications of stablecoins in legitimate markets as value storage, remittances, cross-border payments, and support for international trade.

Cryptocurrency transfers involving illicit addresses
Cryptocurrency transfers involving illicit addresses. Source: Chainalysis

Various criminal activities continue to display various preferences about their digital currency options. Ransomware perpetrators and darknet marketplaces remain faithful to Bitcoin. Sanctioned actors and scammers, however, have aggressively adopted stablecoins.

The report identifies a key weakness in the stablecoin approach of criminals. This is because large issuers such as Tether regularly freeze addresses linked to illicit use. Tether has consistently blocked wallets associated with scams, terror funding, and sanctions evasion. This has made criminals who employ such coins to launder stolen money riskier.

Criminal cryptocurrency preferences also differ by activity category. Scammers and launderers of stolen funds usually spread their activities across more than one type of asset. Sanctioned actors, in turn, migrated mostly to stablecoins.

Stolen funds and scams are very lucrative

Scams and theft drew massive crypto profits in 2024. As per the data, the stolen funds were worth $2.2 billion, a 21% increase from 2023.

While DeFi protocols were the primary focus earlier in 2024, centralized services were most affected in Q2 and Q3. Prominent centralized exchange hacks included DMM Bitcoin’s loss of $305 million in May and WazirX’s loss of $234.9 million in July.

North Korean hackers posted record-breaking crypto heists in 2024, stealing $1.34 billion in 47 separate incidents. This is more than double the $660.5 million they stole in 2023. State-sponsored hackers from North Korea were responsible for 61% of the total amount stolen during the year. The numbers show that North Korean hackers are becoming faster and more efficient at conducting large hacks.

Chainalysis reported that attacks in the $50-100 million and over $100 million ranges are occurring much more frequently than in previous years.

Scams remained very profitable with at least $9.9 billion sent to scam addresses in 2024. HYIS and pig butchering schemes were the most profitable, earning 50.2% and 33.2% of scam funds respectively.

The report also registered increased sophistication in the scam environment, particularly by means of operations such as Huione Guarantee. Huione Guarantee is a peer-to-peer platform that offers everything from technology infrastructure to money laundering services to scammers.

On-chain criminal activity grew increasingly diverse

Of the $40.9 billion that went to illicit crypto addresses, $10.8 billion was sent to what Chainalysis classifies as “illicit-actor org.” This is a designation for services and actors both directly engaging in cybercrime and those who offer infrastructure to enable it.

The professionalization of crypto crime was most apparent through sites such as Huione Guarantee. This market has had over $70 billion worth of transactions since 2021.

Huione and its merchants assisted in an array of illicit activities, including pig butchering scams as well as stolen fund laundering. The platform facilitated transactions for sanctioned actors such as the Russian exchange Garantex, fraud shops, child sex abuse material peddlers, and Chinese betting websites.

A joint report by Chainalysis and OKX found direct financial connections between Mexican cartels and Chinese fentanyl precursor sellers via crypto payments. Crypto payments were also taken up by wildlife trafficking networks, with African exchanges and peer-to-peer transactions becoming mainstream avenues.

There has also been an increased occurrence of violent attacks against holders of crypto. Incidents involved kidnappings, home invasions, and long-term captivity cases where victims were compelled to send over their virtual assets.

Extremist groups see tactical changes in crypto funding

Extremist organizations raised over $20 million through cryptocurrency donations since 2012. However, patterns of support changed notably in 2024. While North America remained the global leader in extremist crypto funding, Europe saw the fastest growth, with nearly 50% of total inflows in recent years.

This European growth was mainly by white nationalist, white supremacist, and anti-Semitic groups that successfully monetized divisive narratives in increasingly polarized political environments. Average donation amounts to these groups spiked notably around major European elections in 2024. This was particularly seen in France and the United Kingdom.

The report identified a concerning trend of ideology-blending among extremist groups. Organizations now frequently combine elements of white supremacism, anti-Semitism, homophobia, and pro-Russia themes to attract wider audiences. On-chain transaction analysis revealed white nationalist organizations frequently donating to other extremist groups promoting Islamophobia, Holocaust denial, and other hate ideologies.

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