#美国消费者物价指数发布在即 The start of the year crypto rollercoaster goes out of control! In mid-January, Bitcoin surged rapidly to the $96,240 mark, breaking a two-month high. Once the key support at $94,500 was lost, short sellers were instantly squeezed, with $500 million in positions being liquidated across the network, and futures open interest evaporated by $900 million on the same day. Spot order-taking capacity surprisingly remained strong, and altcoins took advantage to soar collectively—DASH reached its highest point since 2021, while tokens like OP and TIA skyrocketed in double digits. The market's greed index has completely overwhelmed fear.

But behind the prosperity, there are all traps.

DeFi protocol Truebit was suddenly targeted by hackers with pinpoint precision— the issue stemmed from an integer overflow vulnerability in the smart contract—hackers could mint tokens without spending money, arbitrarily arbitrage. They drained 8,535 ETH, worth $26.44 million in USD. TRU tokens plummeted by 99.99%, almost declaring death, with hacker funds completely hidden through privacy mixing tools. This is not even the most outrageous.

The Flow network is even more surreal. In December last year, it was exploited by hackers who forged tokens and stole $3.9 million. This year, the project team responded with a clever move: forcibly transferring legitimate holdings of exchange users on the Flow chain, claiming they would be destroyed indiscriminately on January 30. This move directly angered multiple exchanges including HTX, and was heavily criticized by the industry for completely violating the basic logic of decentralization—project teams never have the authority to freeze or destroy user assets.

Less than half a month into the new year, the crypto world has already staged a full set of scenes including hacker raids, project teams "seizing assets," and exit scams. On one side, there's the thrill of Bitcoin-led rally, and on the other, the hidden dangers of smart contract vulnerabilities and governance collapse. This "Song of Ice and Fire" is far from over; participants should enjoy the market while tightening risk controls—that's the right way.