Vision and Technology of Persistence One

Persistence One is a project aiming to unify Bitcoin’s fragmented structure within the DeFi landscape. It is designed to enable the transfer of Bitcoin and related assets across various Layer 2 solutions and sidechains quickly, cost-effectively, and with minimal slippage. Instead of traditional bridges, it utilizes an intent-based architecture to facilitate more efficient cross-chain swaps.

These operations take place on Persistence DEX, the project’s decentralized exchange. The Core-1 chain, which forms the backbone of the protocol, handles key functions like governance, staking, and transaction validation.

Moreover, Persistence DEX operates on the Babylon Genesis network and is recognized as the first decentralized exchange deployed on this chain. It serves as the primary trading hub for liquid staking tokens (LSTs) and Bitcoin-related assets.

Technically, the project is built on the Tendermint BFT consensus algorithm and offers high interoperability through the Inter-Blockchain Communication (IBC) protocol.

Use Cases and Roles of the XPRT Token

1. Governance

XPRT holders participate in the decision-making processes of the protocol. This includes voting on upgrades, integrations, and allocation of community funds.

2. Staking & Network Security

Persistence operates under a Delegated Proof-of-Stake (DPoS) mechanism. Users who stake XPRT help secure the network while earning staking rewards, which come from inflation and transaction fees.

3. Transaction Fees & Ecosystem Participation

XPRT is used to pay for network transactions. A portion of the fees collected from decentralized applications (dApps) is redistributed to XPRT stakers.

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4. Liquid Staking & DeFi Integration

With the pSTAKE protocol, users can stake their XPRT while retaining liquidity. This enables staked assets to remain usable within the broader DeFi ecosystem.

Tokenomics: Total Supply & Distribution

Launched on April 1, 2021, XPRT has a total supply of 230 million tokens. The distribution is as follows:

• Marketing & Growth: 25.6%
• Ecosystem Development: 19.4%
• Team: 16%
• Seed & Private Sale: 14%
• Validator Incentives: 10%
• Validators & Strategic Sales: 10%
• Advisors: 4%
• Public Sale: 1%

Inflation Model & Halving

XPRT follows an inflationary issuance model. Initially set at 35%, the inflation rate is halved every two years. This design supports sustainable staking incentives and long-term network security.

Staking Rewards

Staking yields depend on inflation and the network’s transaction fee volume. Rewards are distributed proportionally based on the amount of XPRT staked.

Persistence One Wallet and XPRT Storage Options

Persistence provides multiple wallet solutions for storing and staking XPRT:

• Persistence Native Wallet: The official wallet, optimized for XPRT.
• Keplr Wallet: Browser-based, Cosmos-compatible.
• Cosmostation Wallet: User-friendly, ideal for mobile usage.
• Ledger & Trezor: Hardware wallets offering secure cold storage for long-term holding.

These wallets enable users to manage, stake, and interact securely within the Persistence ecosystem.

Persistence One is bridging the liquidity gap for Bitcoin and PoS assets through innovative solutions like liquid staking and cross-chain interoperability. The XPRT token forms the backbone of this ecosystem—driving governance, security, and DeFi participation. With a robust architecture and long-term economic design, Persistence One is positioning itself as a core infrastructure layer for Bitcoin in DeFi.

Official Links

• Official Website
• Persistence Whitepaper
• Persistence Wallet
• Persistence X

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First seen in Turkey in March 2025, Crocodilus is now active in countries like Poland, Spain, Brazil, Argentina, India, Indonesia, and the U.S., signaling a global expansion that concerns both banks and crypto holders alike.

Fake Apps, Real Intrusions

In Poland, attackers used Facebook ads to lure users with bogus loyalty app promotions. These ads—targeted at users over 35—redirected victims to malware-hosting sites. Once installed, the Trojan bypassed Android 13 restrictions and deployed its attack mechanisms.

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In Spain, Crocodilus disguised itself as a browser update. Once on a device, it overlays fake login pages on top of real banking and crypto apps, harvesting sensitive credentials. It even inserts fake “Bank Support” contacts into user phonebooks to aid social engineering efforts.

Crypto Wallets Under Direct Attack

The most alarming upgrade is Crocodilus’ new ability to automatically extract seed phrases and private keys from infected devices. Equipped with advanced parsing modules, the malware can quickly hijack wallet access with remarkable precision.

To avoid detection, the latest variant uses deep obfuscation techniques like XOR encryption and intentionally complex logic, making reverse engineering a challenge for security teams.

Smaller campaigns have also been seen targeting crypto mining apps and digital banks in Europe—highlighting the malware’s growing focus on crypto users.

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The US Treasury Department and the Department of Justice launched a large-scale operation targeting illegal activities on the darknet. The operation, named SpecTor, involved cooperation from 10 countries. During the raids led by the U.S., authorities arrested 270 individuals. 

Security forces seized 2 tons of drugs, over 180 firearms, and more than $200 million in cryptocurrency. The confiscated cryptocurrencies included Bitcoin (BTC), Monero (XMR), and USDT. Officials closely monitored USDT transfers, blocked crypto wallets, and tracked transaction chains through blockchain analysis. 

The Office of Foreign Assets Control (OFAC), under the U.S. Treasury, sanctioned Iranian national Behrouz Parsarad, who was identified as the operator of the darknet market Nemesis Market. Parsarad’s wallet addresses were publicly disclosed, and virtual asset service providers blocked these addresses. 

Fentanyl Payments Made Through Crypto 

Chainalysis reported in its March 2025 report that Chinese fentanyl precursor suppliers received $5.5 million USDT from U.S. cartel couriers. These transactions were conducted on-chain via stablecoins. Chainalysis called this the “on-chain fentanyl economy.”  Authorities revealed that between 2018 and 2023, transfers to China totaled $37.8 million. Most transactions were detected via centralized exchanges and non-custodial wallets, with blockchain analytics tools uncovering these activities. 

The U.S. Department of Homeland Security also confirmed that crypto payments reached Chinese suppliers. Most payments were small and frequent. The Treasury’s tracking of crypto transfers dealt a financial blow to drug trafficking. Blockchain transactions provided critical data to law enforcement, allowing them to map addresses used in transfers. 

U.S. Attorney General Merrick Garland stated: 

“Hiding on the darknet is no longer enough. Crypto transfers are being tracked. Criminal proceeds are being identified.” 

The US Treasury Department of Justice emphasized this operation sends a clear message to criminals. Meanwhile, the Treasury listed crime-linked wallets and imposed new sanctions. OFAC requested crypto platforms to block addresses on the list. Blockchain analytics firms documented illegal transactions with crypto monitoring tools. Attempts to hide transaction traffic failed due to blockchain transparency, leading to this resolution. 

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RPC Centralization Poses Risks

In a blog post shared on May 19, Buterin highlighted the dangers of over-reliance on Remote Procedure Call (RPC) providers. These services let wallets and apps interact with Ethereum without running a full node. However, Buterin warned that this convenience comes at a cost:

“A market dominated by a few RPC providers will face strong pressure to deplatform or censor users. Many RPC providers already exclude entire countries.”

Introducing “Partially Stateless Nodes”

To combat this, Buterin proposes the creation of partially stateless nodes, which allow users to run lightweight, privacy-friendly nodes that store only the necessary parts of Ethereum’s state.

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As Ethereum’s gas limit increases and the blockchain expands, running a full node becomes increasingly resource-intensive. Partially stateless nodes aim to ease this burden by letting users store only personal account data, DeFi activity, and frequently used tokens such as stablecoins and ETH.

These new nodes would validate blocks statelessly, meaning they do not require the full Merkle tree or entire historical data. This makes it easier for individual users to operate secure nodes without needing enterprise-grade hardware.

Buterin also emphasized that reducing dependency on RPCs and supporting more personal nodes is crucial for maintaining Ethereum’s decentralization and censorship resistance.

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Lumma Stealer and Atomic Stealer Identified

The malware includes Lumma Stealer, active since 2022, which targets cryptocurrency wallets and 2FA extensions. Atomic Stealer, first identified in 2023, steals admin credentials and other sensitive data.

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Scammers Engage Directly with Victims

Scammers assist users in downloading and installing the fake software, building trust on Reddit threads. Malwarebytes traced the hosting website to a Dubai cleaning company and found the command server registered in Russia.

Users are advised to avoid cracked software requiring disabled security measures. The files are double-zipped and password-protected—practices rarely seen in legitimate distributions.

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Cthulhu Stealer passes for official tools like CleanMyMac and Adobe GenP. Once consumers download the disguised file, the virus asks them to input their system password and then demands the password for prominent crypto wallets like MetaMask, Coinbase, and Binance. Text files contain the pilfers of data; the virus also captures operating system version and IP address of the victim.

“The main functionality of Ghostbusters Stealer is to steal credentials and bitcoin wallets from many stores, including game accounts,” said Cado researcher Tara Gould. This virus may be a modified form of Atomic Stealer, another malware found in 2023 aimed against Apple systems, as it shares traits with that other malware.

Reportedly leased out for $500 a month using the Telegram chat system, Cthulhu Stealer was sold and revenues were distributed among associates. But disagreements over payments have resulted in charges of an exit scam by the malware’s creators.

Apple has responded by noting the increasing danger and updating its macOS system to improve security, especially by bolstering Gatekeeper safeguards to guarantee only trustworthy apps are allowed to operate. Mac users should be alert against any dangers to their computers and bitcoin wallets.

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