Solana-based Meme Coin Lobstar's Market Cap Briefly Surpasses $15 Million Before Falling Back, with a 24-Hour Gain of 579%

On February 21, cryptocurrency analyst Micha?l van de Poppe noted that Bitcoin’s recent pullback has pushed realized losses to an all-time high—one of the largest such events in the asset’s history, on par with the 2018 bear market crash, March 2020 COVID-19 plunge, and 2022 losses tied to the Luna/FTX collapse. A wave of holders is engaging in capitulation selling: either panic-selling BTC or transferring it while underwater. This extreme surge in realized losses typically signals panic selling and forced liquidations. Historically, sharp spikes in realized losses have often coincided with near or interim market bottoms, as they mark the exit of “weak hands” and highly leveraged positions. Notably, the Sharpe Ratio has fallen to its lowest level since the last market bottom; the market is in the midst of a massive capitulation event with record-high realized losses; and sentiment is near rock bottom. The only exception this cycle? Bitcoin has dropped just ~50% from its all-time

**IoTeX Updates on Asset Theft Incident (February 21)** IoTeX announced on February 21 that it is evaluating and actively managing its recent asset theft incident, with initial estimated losses far lower than the amounts rumored. The team has coordinated with major exchanges and security partners to trace and freeze the hacker’s assets, and the situation is currently under control. Continuous monitoring will continue, and the community will receive timely updates on the latest developments.

February 21: YGG has surged more than 21% over the past 24 hours, per HTX market data, and is currently trading at $0.0484.

On February 21, Onchain Lens monitoring revealed a wallet suspected of ties to the Infini hacker swapped 3,003 ETH (≈$5.89M) for 87 WBTC at an average price of $67,700, then transferred the WBTC to a separate wallet.

On-chain analyst Specter reported on February 21 that IoTeX may have suffered a private key leak, with its token treasury fully drained by an attacker—resulting in an estimated $4.3 million loss. Chain data shows the attacker moved multiple contract assets including USDC, USDT, IOTX, PAYG, WBTC, and BUSD. Stolen assets were later swapped for ETH, with roughly 45 ETH already bridged cross-chain to the Bitcoin network. Additionally, 111 million CIOTEX tokens were minted at the address starting with 0xA46.