#数字资产市场动态 【On-Chain Sudden Event】A security incident on a DeFi platform draws market attention

Yesterday, a major news broke on the blockchain—MakinaFi was hacked, with approximately 1,300 ETH stolen, worth over $4 million at the time. More detailed is that some of the funds were front-run by MEV bots, and the stolen assets are currently split between two addresses, roughly valued at $3.3 million and $880,000.

Once such incidents are exposed, market reactions tend to be swift. On-chain data shows that funds have already started to move, which can easily trigger a wave of panic. In the short term, $ETH may face pressure, as stolen assets are within the Ethereum ecosystem, and retail investors usually instinctively reduce their positions upon hearing such news. In the coming days, Bitcoin and altcoins may experience volatility, and the risk assets are under considerable pressure.

However, from a long-term perspective, these security incidents have become commonplace in the crypto market. Historically, each similar hacking event causes short-term fluctuations but never alters the medium- to long-term market trend. Moreover, on-chain data indicates that the stolen funds are still relatively stationary, suggesting that hackers may be assessing the situation. This also demonstrates the market’s strong self-healing ability. Coupled with macroeconomic support—the main expectations for the blockchain ecosystem remain intact—these short-term shocks are unlikely to shake the fundamentals.

**Several points on on-chain data worth continued attention:**

If the stolen funds begin to be transferred on a large scale or enter mixers, it indicates that hackers are preparing to cash out, and caution is advised; conversely, if the funds are frozen or moved to secure addresses, it signals that the negative sentiment has been fully priced in.

For holders, panic is often the worst decision-making moment. Such events are essentially a redistribution of liquidity, not an ecosystem collapse. Those with larger positions can choose to hold steady, and those with idle funds can wait for the market to stabilize before gradually building positions—history has shown that crises often breed opportunities.

The market cycles, and volatility continues. The key is to learn how to read the true pulse of the market from on-chain data, rather than being swayed by short-term emotions. Keep tracking developments and wait for the next market signal.