By Shikha Singh
OKX Warns Users of Fake Wallet Plugins on Firefox Browser Extension.
OKX has issued a warning about a fake OKX Wallet browser extension on the Firefox plugin store, stressing that they have not released any Firefox plugins and urging users to transfer wallet assets immediately if they have interacted with the malicious extension.
The exchange has filed a complaint with Firefox to have the fraudulent extension removed and advised users to only download plugins via the official OKX website.
This incident highlights a recurring threat in the crypto space, where hackers use fake browser extensions for phishing and stealing cryptocurrency.
Malicious extensions can manipulate website elements, track credentials, and steal funds. Previous cases include a fake “Safepal Wallet” extension on Firefox and a harmful Chrome extension that drained users’ crypto via manipulated cookies.
VC Giant a16z Launches Spring 2025 Accelerator for Crypto Startups.
Andreessen Horowitz (a16z) announced plans to launch its crypto startup accelerator program (CSX) in San Francisco this spring, aimed at supporting early-stage crypto ventures.
The program offers funding, mentorship, and operational support to help startups scale, with a minimum investment of $500,000 in each company accepted.
It will focus on various aspects of company-building, including research, engineering, marketing, and go-to-market strategies.
The CSX 04 program will conclude with a Demo Day in June, where startups will present to top investors and crypto industry leaders.
Grayscale Updates Crypto Funds for 2025 with New Tokens.
Grayscale Investments has rebalanced four of its major crypto funds for 2025, aiming to diversify portfolios and stay aligned with market trends.
The adjustments reflect the company’s strategy of maintaining relevance in a rapidly evolving digital asset landscape.
In its Decentralized AI Fund, Grayscale introduced Livepeer (LPT) alongside other tokens like NEAR Protocol, Render, Filecoin, Bittensor, and The Graph.
These additions are intended to enhance exposure to decentralized AI technologies, a growing sector in the crypto space. Similarly, Curve replaced Synthetix in the Decentralized Finance (DeFi) Fund.
The updated portfolio now includes assets like Uniswap, Aave, Lido, MakerDAO, and Curve, with Uniswap continuing as the largest component at 47.88%.
Polkadot-based Phala Network Launches Ethereum Layer 2 Rollup.
Phala Network, a Polkadot-based parachain known for decentralized computing and AI solutions, has launched a new Layer 2 network on Ethereum.
Developed with Succinct Labs and Conduit, this rollup integrates optimistic and zero-knowledge proofs via “OP Succinct,” enhancing the OP Stack for improved scalability and privacy.
The move expands Phala’s cryptographic computing solutions to Ethereum, the largest smart contract platform, as Layer 2 ecosystems grow rapidly, with Ethereum rollups surpassing 100 in 2024.
Phala utilizes Trusted Execution Environments (TEEs) for secure, private smart contract execution and recently collaborated with ai16z to integrate TEE technology into AI agent frameworks.
Coinbase Wallet Adds Bank Transfers for USDC.
Coinbase Wallet now enables users worldwide to receive bank deposits directly into their wallets, converting funds to USDC without fees.
This feature supports recurring deposits from payroll or savings accounts, simplifying wallet funding and enabling seamless crypto investments or USDC rewards.
The Coinbase Smart Wallet also offers instant account creation with secure passkeys stored on devices and synced via iCloud or Google Password Manager.
Users can manage subscriptions, mint NFTs, automate investments, and more, enhancing convenience and security.
South Korea Plans to Relax Institutional Crypto Trading Restrictions.
South Korea’s Financial Services Commission (FSC) will gradually lift restrictions on institutional crypto trading under the Virtual Asset User Protection Act, passed in July 2024.
Events like the FTX collapse and Terra crash prompted the act, which aims to curb unethical practices and establish fair trading frameworks.
While crypto trading remains accessible to retail traders through regulated exchanges, banks currently restrict institutional activity.
The FSC plans to phase in institutional trading and introduce regulations for stablecoins, token listings, and standardized criteria for listing and delisting digital assets.
These efforts align with global trends toward more enabling crypto regulations.
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