HargaRumah: Cathie Wood Buys the SpaceX Dip as Cardano Faces New Security Concerns

The crypto market remained under pressure this week as investors reacted to new security concerns and continued weakness across major altcoins.

Cathie Wood's Ark Invest bought the SpaceX dip after the stock's sharp post-IPO sell-off, reinforcing its long-term conviction.

Meanwhile, Cardano faced renewed scrutiny after an ecosystem exploit coincided with ADA falling to its lowest level in nearly six years.

Polymarket confirmed that hackers stole nearly $3 million in a frontend phishing attack. The platform has pledged to reimburse affected users, highlighting ongoing security risks tied to third-party infrastructure.

1. Cathie Wood buys the SpaceX dip after historic selloff

Cathie Wood's Ark Invest increased its SpaceX position this week, purchasing approximately $32.5 million worth of shares after the stock dropped more than 20% from its post-IPO peak. The move continues Ark's strategy of buying high-conviction companies during periods of market weakness.

Despite the recent correction, Ark remains highly optimistic about SpaceX's long-term prospects, projecting the company could be worth as much as $3.1 trillion by 2030. The investment comes just weeks after the largest IPO in history, which briefly pushed SpaceX's market capitalization above $2.7 trillion before profit-taking triggered a sharp pullback.

2. Cardano security concerns grow as ADA hits multi-year lows

Cardano came under renewed pressure after an exploit affecting ecosystem project SecondFi raised fresh concerns about security across the network. Although the vulnerability originated in wallet generation software rather than the Cardano blockchain itself, the incident has weighed on investor sentiment.

The timing has added to ADA's struggles, with the token falling to its lowest price since December 2020 and trading more than 95% below its 2021 all-time high. Traders are now closely watching the $0.1475 support level, which could determine whether Cardano stabilizes or extends its multi-year downtrend.

3. Polymarket promises refunds after $2.9M phishing attack

Prediction market platform Polymarket confirmed that attackers stole approximately $2.9 million after compromising one of its third-party service providers and injecting malicious code into the platform's frontend. The exploit primarily targeted wallets holding pUSD, Polymarket's dollar-pegged stablecoin.

The company said the issue has been fully contained and pledged to reimburse every affected user. While the attack did not compromise Polymarket's core infrastructure, it marks the platform's second major security incident in recent months and underscores the risks posed by third-party dependencies in crypto applications.