Crypto Morning Brief: Resolv Labs Hit by Exploit; Major Token Unlocks This Week for H, JUP, XPL, and Others
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Crypto Morning Brief: Resolv Labs Hit by Exploit; Major Token Unlocks This Week for H, JUP, XPL, and Others
Musk confirms xAI is set to launch a computer-control AI agent named “Grok Computer.”
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday’s Market Highlights
Spot gold fell below $4,370 per ounce—the lowest since early January—down 2.86% on the day.
According to Bitget data, spot gold dropped below $4,370 per ounce—the lowest level since early January—down 2.86% on the day.
KOSPI Index Triggered Circuit Breaker in South Korea
The Korea Exchange activated the KOSPI index circuit breaker after KOSPI 200 futures declined by 5%, halting algorithmic trading for five minutes.
Resolv Labs: Confirms Exploit Attack; Attacker Minted 50 Million USR, Protocol Suspends All Functions
Per an official announcement, stablecoin protocol Resolv confirmed it had been compromised. The attacker exploited a vulnerability to mint 50 million uncollateralized USR stablecoins. Following the incident, the Resolv team urgently suspended all protocol functions to prevent further malicious actions and stated that recovery efforts are underway.
SIREN Token Controller Consolidates 484.6 Million Tokens—66.5% of Total Supply—with a Current Market Value of $1.04 Billion
On-chain analyst Ember (@EmberCN) observed that the SIREN controller consolidated tokens—previously distributed across hundreds of wallets—into 48 wallets within the past few hours. This consolidation involved approximately 484.6 million tokens, representing 66.5% of total supply and valued at roughly $1.04 billion.
On-chain data shows these tokens were accumulated around late June 2025 via hundreds of wallets at an average price of ~$0.045, totaling ~$21.8 million. Over the past ~six weeks, SIREN surged from $0.08 to $2.10—a ~26x increase—and the consolidated position has generated an unrealized gain of ~47x.
GMX Governance Proposal Approved to Publicly Recruit a CEO; Combined Base Salary and Token Incentives Cap at ~$700,000 Annually
GMX Labs released a leadership structure upgrade proposal, which passed DAO governance voting with 96.42% approval. The proposal notes that GMX Labs’ early flat, founder-led organizational model is no longer sustainable given team expansion and intensifying competition in the perpetual DEX sector, necessitating a shift toward a clearer, more accountable traditional leadership structure.
The proposal announces a public recruitment process for a CEO, targeting candidates from DeFi, CeFi, traditional finance, and technology sectors. Recruitment and onboarding aim to conclude by April 2026, with organizational restructuring and submission of a new contributor token allocation plan aligned with performance metrics targeted for completion before June. The CEO will be responsible for setting GMX Labs’ strategic direction, building functional leadership teams, strengthening partnerships, and representing GMX Labs externally at industry events.
Compensation includes an annual base salary of $150,000–$200,000 paid in stablecoins and performance-based incentives denominated in GMX tokens, directly tied to protocol fee growth. The current annualized protocol fee baseline stands at ~$60 million. A 50% fee increase triggers partial rewards; a 100% increase—to ~$120 million—entitles the CEO to the full base reward pool of 40,000 GMX; and a 125% increase—to ~$135 million—grants an additional special reward of 10,000 GMX. The GMX tokens awarded will be adjusted by a factor of 0.5–1.5 based on the 30-day average GMX price, with an annual token compensation cap of 75,000 GMX. Of the performance rewards, 25% vest immediately upon target achievement, while the remaining 75% vest linearly over 24 months; unvested portions are forfeited upon early departure.
During the transition period, an interim leadership committee comprising four members—X, Coin, B, and Kal—will oversee operations, advance the existing roadmap, and lead the CEO search.
Hyperliquid Strategies Financial Report: HYPE Holdings Increased to 17.6 Million Tokens; Net Loss of $317.9 Million Over Six Months
Hyperliquid Strategies Inc. (NASDAQ: PURR) released its financial report for the fiscal year ended December 31, 2025. As of the reporting date, the company’s total assets stood at $616.7 million—including $281.9 million in cash—and HYPE token holdings totaled ~12.86 million tokens, valued at ~$327.6 million at the year-end price of $25.48. Shareholders’ equity amounted to $589.8 million, with zero debt. Net loss over the six-month period totaled $317.9 million, primarily driven by $262.4 million in unrealized losses on HYPE tokens, a one-time $35.6 million write-off of R&D assets, and a $17.8 million increase in deferred tax liabilities. Since its listing on December 2, 2025, the company generated $900,000 in interest income and $500,000 in staking revenue.
As of February 3, 2026, the company increased its HYPE holdings to 17.6 million tokens, deploying $129.5 million to purchase ~5 million additional HYPE tokens. It also used $10.5 million to repurchase ~3 million PURR shares, leaving ~$125 million in deployable capital and holding a $1 billion Equity Line of Credit (ELOC).
CEO David Schamis stated that although unrealized market value losses reflect broader digital asset market volatility, the company’s healthy balance sheet, staking revenue, disciplined capital deployment, and synergies with Hyperliquid’s deflationary mechanism will create long-term value for shareholders.
Pentagon Designates Palantir’s AI System Maven as Core Military Program
According to an exclusive Reuters report, U.S. Deputy Secretary of Defense Steve Feinberg sent a letter dated March 9 to senior Pentagon leaders and U.S. military commanders officially designating Palantir’s Maven artificial intelligence system as a “program of record.” This designation is expected to take effect before the end of the current fiscal year (September). As a result, Maven will be deployed across all U.S. military branches and receive stable, long-term funding.
Maven is a command-and-control software platform capable of analyzing battlefield data and automatically identifying potential threats and strike targets. It is already the U.S. military’s primary AI operating system and was deployed over the past three weeks to execute thousands of precision strikes against Iran. In his letter, Feinberg emphasized that deeply integrating AI into joint forces and establishing an “AI-driven decision-making framework” is an urgent priority. The memo also directs that Maven’s oversight authority be transferred from the National Geospatial-Intelligence Agency to the Pentagon’s Chief Digital and Artificial Intelligence Office within 30 days, with future contracts with Palantir to be managed by the U.S. Army.
This formal program designation marks a major win for Palantir. The company’s stock has doubled over the past year, pushing its market capitalization near $36 billion. It previously secured a contract with the U.S. Army worth up to $10 billion. Notably, Maven leverages Anthropic’s Claude AI tools, yet the Pentagon recently designated Anthropic as a supply chain risk—an issue that could pose challenges for Maven’s deeper integration.
Musk Confirms xAI to Launch “Grok Computer,” an AI Agent for Desktop Control
X platform users discovered a feature flag named enable_grok_computer in Grok’s web interface source code, suggesting xAI is preparing to launch a desktop-control AI agent—essentially a “preview version” of the previously announced Macrohard project. Musk confirmed the launch in a repost of the related thread, writing “Coming out soon.” Macrohard is an AI automation system jointly developed by Tesla and xAI, using Grok as its high-level reasoning engine and AI agents to process real-time screen visuals and keyboard/mouse inputs. Earlier reports indicated data collection for the project paused last month.
Boya Interactive Plans Up to $70 Million Crypto Purchase to Expand Web3 Business
Hong Kong-listed Boya Interactive (HKEX: 00434) issued a public announcement stating that its board recommends seeking shareholder approval for a purchasing authorization, allowing the company to use idle cash reserves from ongoing operations to acquire cryptocurrencies over the next 12 months, with a maximum aggregate amount of $70 million. This move aims to capitalize on the current crypto market downturn to moderately expand cryptocurrency allocations and further support the company’s Web3 business development.
As of the announcement date, the company holds a total of 4,092 bitcoins, acquired at an average price of ~$68,200; 302 ether, acquired at an average price of ~$1,661; and ~7,000,700 Tether (USDT) tokens. The board plans to conduct these purchases exclusively on regulated exchanges to ensure market liquidity and security.
Michael Saylor Re-posts BTC Tracker Update; Bitcoin Acquisition Data Likely to Be Disclosed Next Week
Michael Saylor, founder of Bitcoin treasury firm Strategy, re-posted information related to the Bitcoin Tracker, captioning it: “The Orange March Continues.” Consistent with prior patterns, Strategy typically discloses its latest Bitcoin acquisition data the day after such announcements.
Major Token Unlocks Expected This Week for H, JUP, XPL, and Others
Token Unlocks data indicates significant token unlocks scheduled this week for H, JUP, XPL, and others.
- H: 105.36 million tokens unlock on March 25, valued at ~$9.68 million—or 4.19% of circulating supply;
- JUP: 53.47 million tokens unlock on March 28, valued at ~$8.15 million—or 1.55% of circulating supply;
- XPL: 88.89 million tokens unlock on March 25, valued at ~$8.11 million—or 3.98% of circulating supply;
- PARTI: 89.3 million tokens unlock on March 25, valued at ~$7.81 million—or 19.86% of circulating supply;
- SOSO: 13.33 million tokens unlock on March 24, valued at ~$5.36 million—or 4.55% of circulating supply;
- NIL: 114.48 million tokens unlock on March 24, valued at ~$5.14 million—or 36.40% of circulating supply;
- BIGTIME: 333.33 million tokens unlock on March 29, valued at ~$4.21 million—or 16.00% of circulating supply;
- SAHARA: 132.93 million tokens unlock on March 26, valued at ~$3.65 million—or 4.42% of circulating supply;
- MON: 170.21 million tokens unlock on March 24, valued at ~$3.51 million—or 0.34% of circulating supply;
- SOON: 21.88 million tokens unlock on March 23, valued at ~$2.69 million—or 5.06% of circulating supply;
- UDS: 1.19 million tokens unlock on March 27, valued at ~$1.79 million—or 0.74% of circulating supply;
- ALT: 240.1 million tokens unlock on March 25, valued at ~$1.64 million—or 4.23% of circulating supply;
- VENOM: 74.26 million tokens unlock on March 25, valued at ~$1.62 million—or 2.52% of circulating supply;
- MET: 7.33 million tokens unlock on March 23, valued at ~$1.04 million—or 1.44% of circulating supply.
Market Data
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