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RedotPay, based in Hong Kong, concluded a 40 million USD Series A funding round led by Lightspeed. The company enhances the use of cryptocurrency in daily transactions and launched Visa cards compatible with Solana and Arbitrum.

The firm has partnered with StraitX and Visa to advance crypto payment options in Singapore. However, there are concerns regarding restricted services for users located outside Hong Kong.

CertiK has identified a signature verification exploit on Arbitrum, leading to a theft of approximately 140,000 USD. This security breach allows attackers to bypass checks and drain funds from unverified smart contracts.

In response, CertiK has advised users to revoke contract approvals to prevent further losses. This incident underscores a troubling trend of increasing vulnerabilities in the cryptocurrency sector.

Arbitrum’s value has dropped from a local high of 0.8 USD to 0.34 USD over the past three months. Currently, 0% of ARB holders are in profit, resulting in 99% at a financial loss.

The persistent downtrend signals a bearish market. Analysts suggest potential recovery may occur as historical trends indicate that such low profitability can lead to a buying opportunity, and recent buying activity hints at this.

Arbitrum [ARB] is currently at risk of establishing a lifetime low driven by negative market conditions. It has witnessed a notable decline of 31.67% in the past month and an additional drop of 4.44% in just 24 hours.

A rise in active addresses has been observed, increasing from around 224,000 to 262,000. However, the Average Time Held of ARB has plummeted by 79.96%, suggesting investors lack strong incentives to hold the asset.

Whale activity is prominent, with a considerable $15.2 million ARB transaction observed. If ARB does not reclaim its support level at $0.4685, the price may plunge to $0.3453, forming a new all-time low, though upcoming stablecoin developments could offer some hope.