Wallet vulnerabilities, options expiration, whale strategies—these market movements over the past few hours are worth everyone paying close attention to.

**Wallets are bleeding, and those unaware are still sleepwalking**

The Trust Wallet expansion vulnerability is no longer hypothetical—it has actually happened. Some users woke up to find their ETH gone, with strange transfer records and blank signature logs. Check your wallet authorization list, especially those small tokens you played with last year. Many have long forgotten granting unlimited access to certain DEXs or mining contracts. Now, these permissions are like time bombs.

Recommended actions: review every DApp authorization in your wallet and revoke unused permissions immediately. Move large assets into a hardware wallet. If another security incident occurs within the wallet ecosystem, consider proactively pausing DeFi operations for 48 hours to let the risk pass.

**Behind the plunge is a derivatives drama**

BTC dropped below $87,000, which initially looks like panic. But looking at the data reveals the truth—today, $23.7 billion worth of Bitcoin options are expiring, the largest in history. At this moment, big funds suddenly added over 40 times more long positions.

This isn’t panic selling; it’s a play by derivatives traders. Their logic is simple: use a small amount of spot to dump and create panic → retail investors see the price drop and get liquidated on options → whales harvest tenfold returns from the options market. A 5% drop in spot can translate into a tenfold increase in options market profits.

Retail traders focus on candlestick charts, but institutions look at the entire market structure.