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Arthur Hayes Bitcoin crash thesis centers on dealer hedging tied to IBIT structured products.

Dynamic hedging flows, not fundamentals, amplified Bitcoin’s rapid downside move.

Trigger levels and observation dates now shape short-term Bitcoin price behavior.

Arthur Hayes Bitcoin crash commentary points to dealer hedging activity rather than macro weakness. Bitcoin’s sharp drop followed structured product mechanics tied to BlackRock’s IBIT, according to recent market analysis.

Dealer Hedging Activity and IBIT Structure

Arthur Hayes attributed the Bitcoin crash to hedging flows linked to BlackRock’s IBIT products. In a post on X, he described the sell-off as mechanical rather than sentiment-driven.

https://twitter.com/CryptoHayes/status/2019994102100865085?s=20

He explained that banks issuing structured notes on IBIT must dynamically hedge exposure. These hedges often involve spot Bitcoin and futures, creating feedback loops during volatile periods.

When Bitcoin prices rise steadily, dealers remain long gamma and buy exposure. However, once prices stall or reverse, hedging behavior changes quickly and adds selling pressure.

The Bitcoin price fell more than 50% from its all-time high, briefly touching $60,000. This move coincided with levels tied to structured product triggers rather than macroeconomic announcements.

Hayes stated that such price action reflects market plumbing. According to his view, these flows overwhelm traditional indicators watched by most investors.

The focus, therefore, shifts from narratives to positioning. Dealers managing risk become dominant short-term price drivers during stressed conditions.

Structured Notes, Trigger Levels, and Forced Selling

Hayes also referenced a Morgan Stanley dual-directional auto-callable note linked to IBIT. The product reportedly struck near the October 31 Bitcoin peak around $105,000.

This structure placed its knock-in barrier near $78,700. Once Bitcoin traded below that level, dealer hedging requirements reportedly flipped to forced selling.

Hayes noted on X that such trigger breaches accelerate downside moves. These actions occur regardless of broader market confidence or long-term Bitcoin adoption trends.

As multiple banks issue similar notes, observation dates often cluster. This concentration increases the risk of rapid cascades when prices approach shared barriers.

The resulting moves can appear sudden to spot-focused traders. However, they reflect predefined risk management rules embedded within structured products.

Hayes added that mapping issued notes now matters more than tracking headlines. Trigger levels effectively act as short-term support and resistance zones.

Market Reaction and Broader Asset Volatility

During the Bitcoin crash, total crypto market capitalization dropped sharply. Roughly $2 trillion in value was erased from a peak near $4.38 trillion.

Bitcoin has declined about 30% this year despite brief recoveries. On Friday, BTC rebounded above $70,000, gaining over 7%, according to TradingView data.

Other assets reflected similar stress. Silver fell more than 18% after a leveraged rally, while gold volatility increased during the same period.

Crypto-linked equities also weakened. MicroStrategy shares declined as bearish Bitcoin sentiment spread across related markets.

Some analysts offered alternative explanations. CryptoQuant reported that institutional demand reversed as US-based ETFs reduced Bitcoin holdings this year.

Despite political optimism following Donald Trump’s return to the White House, Bitcoin struggled. Market mechanics and hedging flows outweighed policy expectations during the downturn.

Arthur Hayes emphasized adaptation. As market structure evolves, traders increasingly monitor issued products, hedging behavior, and mechanical flow-driven price movements.

The post Arthur Hayes Attributes Bitcoin Crash to BlackRock IBIT Hedging Flows and Triggers appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.

Bitcoin faced $264M outflows, but XRP, Solana, and Ethereum attracted fresh investor money.

ETP trading hit $63.1B, showing strong market interest despite ongoing price volatility.

Quantum threats to Bitcoin remain years away, allowing investors to focus on current market trends.

Digital asset investment products recorded a sharp slowdown in outflows last week, totaling US$187 million despite persistent price pressure, as per the CoinShares report. Assets under management (AuM) fell to US$129.8 billion, marking the lowest level since March 2025. 

This drop was consistent with earlier market volatility brought on by US tariffs, indicating increased investor prudence.

In the meantime, ETP trading increased from its previous peak of US$56.4 billion in October 2025 to an all-time high of US$63.1 billion. The CoinShares team believes that as investors reevaluate their risk tolerance in the face of rising volatility, the slowdown in outflows could indicate a market bottom.

As per the report, the flows in individual assets underline investor preferences. Bitcoin had outflows of US$264 million, showcasing continued caution from holders. In contrast, XRP was at the top in terms of inflows at US$63.1 million, while Solana and Ethereum accounted for US$8.2 million and US$5.3 million, respectively.

XRP is the best performer year-to-date, with US$109 million of cumulative inflows. Regionally, Germany accounted for US$87.1 million of the inflows, followed by Switzerland at US$30.1 million, Canada at US$21.4 million, and Brazil at US$16.7 million, suggesting pockets of confidence in spite of broader market weakness.

ETPs Hit Record Volumes Amid Investor Shifts

The surge in ETP trading volumes highlights heightened market engagement even during a price correction. The report suggests that the record US$63.1 billion in trading indicates growing liquidity and confidence in structured digital asset products. 

Moreover, historical data shows that changes in outflow pace often signal shifts in investor sentiment more accurately than raw price movements. Consequently, the recent deceleration may point toward stabilization in the digital asset market, even as Bitcoin continues to see net outflows.

Quantum Risk Remains a Future Concern for Bitcoin

CoinShares researchers recently also reported lingering fears over quantum computing and the possible threat it poses to Bitcoin, noting, “Bitcoin’s quantum threat is not a near-term crisis but a predictable engineering issue, with plenty of time to adapt.”

At the moment, as per the report, the quantum technology that exists has not, and cannot, break the underlying cryptography that exists in Bitcoin. However, future quantum technology poses a future threat. Investors can therefore focus their attention on the prevailing market fundamentals.

The post Crypto Outflows Slow Amid Price Pressure; Bitcoin Faces Headwinds appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.

Vitalik said the blockchain trilemma is an engineering constraint, not a law, and can be solved with layered design.

zk-SNARKs let Ethereum scale computation by verifying work with proofs instead of re-executing every task.

PeerDAS enables data scaling by sampling small data chunks, boosting throughput without weakening consensus.

Ethereum co-founder Vitalik Buterin said the long-debated blockchain trilemma is being addressed through engineering progress, not theory. He spoke on January 27 at the ETH ChiangMai togETHer event. Buterin explained why Ethereum now targets scalability and consensus together, using new cryptographic and data-layer technologies.

Trilemma Framed as an Engineering Constraint

According to Vitalik Buterin, the blockchain trilemma never existed as a mathematical law. Instead, he described it as a stage-dependent engineering challenge. He compared Ethereum’s trajectory to two existing systems.

Bitcoin, he said, achieves strong consensus by forcing every node to process each transaction. However, that design limits scalability. By contrast, BitTorrent moves massive data volumes daily through decentralization, yet it lacks ordering guarantees and consensus.

Buterin explained Ethereum aims to combine both properties. The goal is strong consensus without forcing every participant to process all activity. This framing set the context for Ethereum’s current technical direction.

ZK-SNARKs Reshape Computation Scaling

Turning to computation, Buterin pointed to zk-SNARK technology as a key enabler. Zk-SNARKs allow verification of large computations through cryptographic proofs. Validators can confirm results without redoing the work.

He explained that large computations can be split into smaller parts. Different participants process those parts independently. The system then verifies the combined output using proofs.

According to Buterin, this approach removes earlier scalability limits at the computation layer. He noted Ethereum already has usable beta implementations. However, he added that several more years of testing remain before full production scaling.

PeerDAS Targets Data Availability Limits

For data scaling, Buterin highlighted PeerDAS. This system allows nodes to sample small data portions randomly. Nodes no longer need full datasets to maintain consensus.

He said PeerDAS already runs on Ethereum today. Together with zk-SNARKs, it enables higher capacity without weakening consensus guarantees.

Buterin stressed that these upgrades work across separate layers. Computation and data now scale independently. As a result, Ethereum can increase throughput while preserving decentralization.

He added that continued security validation remains necessary. Still, he described steady improvement across both areas, based on current deployment progress and testing milestones.

The post Vitalik Says Ethereum Is Solving the Blockchain Trilemma appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.

Vaduz, Liechtenstein, February 9th, 2026, Chainwire

xMoney ($XMN) is expanding its partnership with Domino’s, bringing its payment infrastructure to Domino’s Greece following a successful rollout in Cyprus.

The collaboration focuses on acquiring services, enabling Domino’s Greece to accept card payments and digital wallets, including Apple Pay and Google Pay, across both web and mobile ordering platforms.

At the core of the integration is xMoney’s embeddable checkout solution, designed to deliver a seamless payment experience without redirection. Customers complete their orders faster, while all sensitive payment data is securely handled by xMoney’s compliant infrastructure.

The expansion was announced in person at a community event hosted at SuiHub Athens – a community space established to support builders and Sui ecosystem partners – bringing together the xMoney and Sui teams, Domino’s representatives, and building on xMoney’s previously announced work with Sui to expand real-world payment access across Europe.

“Domino’s operates in a high-volume, real-time environment where speed and reliability are critical,” said Manos Tsouloufris, CTO of Daufood. “xMoney’s checkout solution supports multiple payment methods in a single, seamless flow, helping us serve customers faster at scale.”

While the current implementation focuses on fiat payments, the two teams are also exploring future possibilities around digital asset payments, where network speed, user experience, and confirmation times make sense for real-world commerce.

The launch in Greece represents the next step in a broader European expansion, reinforcing xMoney’s role as a trusted payments partner for brands that operate at scale and its presence within the Sui ecosystem reflects a growing focus on practical, consumer-facing payment experiences built for everyday use.

“When people order food, they don’t think about payments, and that’s exactly the point,” said Gregorious Siourounis, Co-Founder and CEO of xMoney. “Our role is to make checkout fast, reliable, and invisible, so brands like Domino’s can focus on their customers. Bringing this experience to Greece is a natural next step.”

As xMoney expands across markets and merchant use cases, XMN supports the broader ecosystem by aligning long-term participation and infrastructure growth across the network. Designed to sit alongside xMoney’s licensed payment rails, XMN helps structure how value, incentives, and future on-chain capabilities evolve, without impacting the simplicity of everyday checkout experiences.

Faster checkout. Less friction.

Payments that deliver.

About Domino’s

Founded in 1960, Domino's Pizza is the largest pizza company in the world, with a significant business in both delivery and carryout pizza. It operates a network of company-owned and independent franchise stores in the United States and more than 90 international markets.

About xMoney

xMoney is revolutionizing the payments landscape with strategic European licenses, delivering a seamless, secure, and forward-thinking ecosystem powered by innovative product design, cutting-edge technology, and unwavering compliance. XMN, xMoney's newly launched token, is natively integrated into the licensed and regulated payment infrastructure - empowering merchants and consumers with lightning-fast, trustworthy transactions underpinned by full regulatory transparency. Now trading on Kraken, KuCoin, MEXC, Bitvavo, Bluefin and other exchanges, XMN is primed for broader adoption with a robust pipeline of integrations ahead.

Contact details:

Website: www.xmoney.com 

ContactHead of Marketing
Alex Rus
xMoney
alex.rus@xmoney.com

Disclaimer: Any information written in this press release does not constitute investment advice. Crypto Front News does not, and will not endorse any information about any company or individual on this page. Readers are encouraged to do their own research and base any actions on their own findings, not on any content written in this press release. Crypto Front News is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release. For more details, visit our disclaimer page.

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Capital ₿ steadily builds Bitcoin, lowering average cost per coin while keeping a smart, patient accumulation strategy.

BTC purchases are funded through share increases and warrants, balancing growth with shareholder value protection.

The company ranks 28th globally in public Bitcoin holdings, using AI and tech to strengthen its crypto strategy.

French publicly traded company Capital ₿ has accelerated its Bitcoin accumulation, acquiring an additional 5 BTC for €0.32 million. The purchase was completed on February 9, 2026, via Swissquote Bank Europe SA, a regulated VASP in Luxembourg. 

According to Alexandre Laizet, Board Director of Bitcoin Strategy at Capital ₿, the company now holds 2,828 BTC, with a BTC yield of 0.1% YTD. Besides boosting its digital asset portfolio, the acquisition strengthens Capital ₿’s long-term strategy for gradual and disciplined accumulation.

Capital ₿ has consistently built its Bitcoin holdings over the past year. On June 2, 2025, it bought 624 BTC at €96,447 per coin, bringing total holdings to 1,471 BTC. Later, in September 2025, the company purchased another 551 BTC at €99,272, increasing holdings to 2,800 BTC. 

Even smaller acquisitions, like 15 BTC at €63,729 in November 2024, contributed to a steady accumulation. Moreover, these purchases have helped lower the company’s average cost per coin while keeping market timing under careful observation.

Strategic Financial Moves and Custody Solutions

Capital ₿’s Bitcoin is securely held under a custody solution offered by Swiss fintech firm Taurus. Additionally, the company executed a €150,000 capital increase in January 2026 through 193,492 new shares, allowing continuous acquisition funding. 

Besides, previous warrants issued under BSA 2025-01 converted into new shares, further supporting the Bitcoin accumulation strategy. Consequently, Capital ₿ balances shareholder value, smart capital allocation, and disciplined exposure to digital assets.

The company also ranks 29th among public companies globally holding Bitcoin, according to BitcoinTreasuries. Its focus on AI, data intelligence, and decentralized technology underpins this strategy. Moreover, Capital ₿ collaborated with TOBAM under an ATM agreement to ensure share prices reflect market trading levels and key financial metrics. This approach confirms a careful, strategic plan rather than impulsive buying.

Capital ₿’s stock (ALCPB.PA) traded at €0.6610 on the Paris Exchange, down 3.34% in morning trading. At the same time, Bitcoin hovered at $68,515, dropping 2.4% over the past 24 hours. However, the company’s long-term approach highlights disciplined accumulation regardless of short-term price fluctuations.

The post Capital ₿ Expands Bitcoin Holdings with Strategic Buy appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.

Bitcoin forms a wide 57k to 87k box expected to last months with sideways action viewed as preparation not strength.

Range strategy buys near 57k to 60k for short term gains while 87k caps upside and invites added shorts.

Analyst expects a later breakdown with final accumulation below 50k possibly in September or October.

Bitcoin faces an extended consolidation phase, according to Doctor Profit, who outlined his outlook in a recent market update. He described a broad trading range between 57k and 87k forming after last week’s price action near 78k. The analysis explained why sideways movement, not a rally, now defines Bitcoin’s short-term structure and execution plan.

Sideways Structure and Historical Context

Doctor Profit said Bitcoin is forming a wide price box between 57k and 87k. Notably, he described this phase as preparation, not strength. He expects this range to persist for weeks or months. Afterward, he anticipates a breakdown toward the 44k–50k region.

He referenced 2024 as a structural comparison. During that year, Bitcoin traded between 58k and 74k for nearly twelve months. As per Doctor Profit, that range created reference levels for a future bear market. He said Bitcoin now trades inside the same structural zone.

In a bear market, he explained, prior consolidation does not act as support. Instead, it becomes structure that eventually fails. For this reason, he expects a downside break once the current sideways phase ends.

Trading Range Logic and Upside Limits

Doctor Profit outlined his active range strategy next. He expects price to rotate between 57k and 87k during this phase. He identified 57k–60k as the bottom of the current box. However, he stressed this level is not the final bottom.

He said purchases in that zone target percentage gains, not long-term positioning. Some spot buys near 60k already gained roughly 16%. However, he stated 87k is not guaranteed. Instead, it marks the highest potential level during the range.

If price approaches 87k, he plans to add to existing short positions. Those shorts were opened earlier between 115k and 125k.

Positioning, Timing, and Bear Market Framework

Doctor Profit said he continues to hold shorts from the 115k–125k area. At the same time, he maintains spot exposure between 57k and 60k. He expects repeated tests of that zone during sideways movement.

He cited 2022 as an example of strong bear market rallies. Bitcoin rallied sharply before making a deeper low. As per Doctor Profit, similar counter-trend moves now support liquidity building.

His primary long-term accumulation zone remains below 50k, extending into the low 40s. He expects that area to define the final bottom. He said this move could occur around September or October, based on his calculations.

The post Analyst Predicts Bitcoin Range, Flags 44k–50k Risk appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.

Whales moved 66.94k BTC to accumulation wallets on Feb 6, signaling high conviction despite market volatility.

Inflows peak during dips and rallies, showing smart investors step in when prices fluctuate.

Long-term holders keep buying, tightening supply and potentially boosting future Bitcoin price moves.

Bitcoin long-term holders are making decisive moves as the market experiences a sharp decline. According to CryptoQuant analyst CW8900, “On February 6th, 66.94k $BTC in-flowed to accumulator addresses. This was the largest inflow amount in this cycle.” 

The data highlights that whales are actively buying and securing Bitcoin, moving it to wallets that rarely spend. These addresses are typically controlled by institutions, funds, or high-conviction investors. Hence, the surge suggests that confidence in Bitcoin’s long-term value remains strong despite recent volatility.

The inflows received by accumulation addresses and accumulated over time can be visualized along with Bitcoin’s price. In the early days, there were small accumulation amounts. However, during the 2020-2021 bull market run, more coins entered accumulation addresses. Yet, investors held onto coins and chose to buy rather than sell them.

Following the 2021 peak and the subsequent bear market period, these inflows continued to come in but at sporadic intervals. This shows us that underlying conviction was never lost, even during corrections in the markets. Following 2023-2025, inflows started to rise to historical highs.

Surge During Volatility Signals Strong Demand

Spikes in inflow tend to fall during the most volatile periods, as indicated on this chart. Thus, sophisticated investors time inflows when the prices have deep pullbacks or late-cycle rallies. Moreover, larger and more frequent inflows point to greater institutional participation and strategic accumulation.

The behavior of these whales reinforces the view that structural demand remains robust. Furthermore, by moving significant Bitcoin into accumulation addresses, liquidity in the market decreases, which can intensify future price movements.

CW8900’s analysis emphasizes that accumulation addresses function as a window into long-term investor sentiment. “Accumulation activity did not collapse, indicating that long-term conviction remained intact even as prices corrected sharply,” he notes. The pattern is clear: strong inflows reflect confidence in Bitcoin’s enduring value. 

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Haseeb says regulation and scams did not kill consumer web3 users simply did not want crypto games or media.

Financial crypto scaled bottom up through real demand across Bitcoin stablecoins DeFi NFTs prediction markets and RWAs.

a16z says crypto is in a financial phase with ownership infrastructure first and clearer token rules before consumer apps.

Haseeb, Managing Partner at Dragonfly, rejected claims about consumer web3 failure. The exchange involved Chris from a16z crypto and focused on gaming, media, regulation and adoption. The discussion examined why financial crypto scaled while non-financial applications struggled, according to both participants.

Haseeb Disputes Regulation as the Core Explanation

According to Haseeb, arguments blaming regulation and scams for failed web3 gaming and media do not hold. He questioned whether figures like Gary Gensler caused those products to fail. Notably, he pointed out that financial crypto faced heavier scrutiny and more scams.

However, financial use cases still scaled, he said. Haseeb argued this contrast undermines the regulation-first explanation. He stated that consumer web3 products failed because users did not want them. He added that large amounts of capital and talent tested these ideas.

Haseeb listed crypto use cases that achieved adoption, all financial in nature. These included Bitcoin, stablecoins, Ethereum, ICOs, DeFi, NFTs, prediction markets, and RWAs. He noted that adoption happened bottom-up, based on observed user demand.

Financial Adoption Versus Consumer Experiments

Haseeb said investors discovered demand through usage, not pitch decks. In contrast, he described consumer web3 as driven by investor narratives and zero-rate conditions. He contrasted this with early Ethereum use cases outlined by Vitalik Buterin in 2014.

Those examples, he said, focused on finance, including issuance, derivatives, DAOs, savings, insurance, and prediction markets. Haseeb emphasized that finance represents a significant share of global economic activity. He also cited dissatisfaction with banking infrastructure as a driver.

Chris Frames Crypto as a Long-Term Build

Chris responded by stating that crypto currently is in a financial phase. He said blockchains introduced ownership-based coordination at internet scale. Finance, he added, served as the foundation, not the endpoint.

According to Chris, infrastructure must precede consumer categories. He compared crypto’s path to the early internet’s development. He also cited trust erosion from scams and regulatory pressure as limiting token-based communities.

Chris said a16z crypto has pushed for clearer token regulation for over five years. He referenced the GENIUS framework as validating that approach. He added that market structure legislation could follow a similar path.

The post Managing Partner at Dragonfly Challenges Web3’s Non-Financial Case appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.

DALLAS, Feb. 9, 2026 /PRNewswire/ -- Cango Inc. (NYSE: CANG) today released a letter to shareholders highlighting its strategic transformation and roadmap to evolve from a global Bitcoin miner into an AI compute infrastructure platform.

Throughout the past year, Cango executed a disciplined entry into the industry, balancing speed with operational prudence to build its position as a leading Bitcoin miner with a global footprint across four key regions. Key commitments were delivered, including acquiring and enhancing hashrate efficiency of 50 EH/s of on-rack machines, adopting a strategic treasury approach, divesting legacy operations, securing 50 MW of energy infrastructure, and completing the transition to a direct NYSE listing. These milestones established the foundation for Cango's transition from hosted hashpower toward a global distributed inference compute grid.

In response to market conditions, Cango made a treasury adjustment to strengthen the balance sheet and reduce financial leverage, creating increased capacity to fund strategic expansion into AI compute infrastructure.

The Strategic Logic behind the Proposed Pivot

Cango's global mining operations, operational experience, and infrastructure provide a practical pathway toward AI compute objectives. The rapidly growing AI era continues to face a "Power Gap"—a disconnect between rising compute demand and existing grid capacity. By leveraging globally accessed, grid-connected infrastructure, Cango is positioned to deliver flexible, high-performance compute capacity to meet long-tail inference demand through a scalable business model.

This transition follows a disciplined three-phase roadmap:

Near Term: Standardization and efficient deployment of modular, containerized GPU nodes for rapid deployment, offering on-demand compute capacity.

Medium Term: Deployment of a proprietary software platform for orchestration, evolving Cango into an integrated, enterprise-grade network enabler.

Long Term: Global scaling into a mature AI infrastructure platform, activating underutilized power to establish durable, recurring revenue streams.

To accelerate this transition, Cango has established EcoHash Technology LLC, a wholly-owned subsidiary based in Dallas, Texas, dedicated to advancing AI compute initiatives under the leadership of a newly appointed AI CTO.

The Company also positions itself as an "Ecosystem Enabler" for the wider mining industry, providing a practical technical path to adapt existing energy infrastructure for AI operations with manageable upfront commitment.

Cango acknowledges this shift is a multi-year journey, but believes its infrastructure and operational experience provide a clear path to open new, durable revenue streams while complementing its core mining operations.

View original content: https://ir-image.cangoonline.com/ir-documents/2026-02-09_Cango-Inc-Releases-2025-Letter-to-Shareholders.pdf

Investor Relations Contact

Juliet YE, Head of Communications

Cango Inc.

Email: ir@cangoonline.com 

Disclaimer: Any information written in this press release does not constitute investment advice. Crypto Front News does not, and will not endorse any information about any company or individual on this page. Readers are encouraged to do their own research and base any actions on their own findings, not on any content written in this press release. Crypto Front News is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release. For more details, visit our disclaimer page.

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Attackers hide malicious commands in OpenClaw skills, making normal-looking plugins steal data from users’ systems.

Base64 encoding masks harmful code, bypassing simple keyword detections like curl|bash, making threats harder to spot.

Staged delivery lets attackers update payloads quickly while keeping SKILL.md files looking safe to users and reviewers.

A major security alert has shaken the OpenClaw ecosystem, as ClawHub, its official plugin center, faces a growing supply chain poisoning threat. Security researchers at SlowMist discovered that attackers are targeting ClawHub by embedding malicious commands in seemingly legitimate skills. 

Consequently, both developers and users face potential data theft and system compromise. The attack leverages ClawHub’s weak review mechanisms, which allow harmful skills to slip past scrutiny.

As per the report, in total, Koi Security identified 341 malicious skills out of 2,857 scanned, highlighting a classic plugin market poisoning pattern. Skills in OpenClaw are structured as “skill folders” under the AgentSkills specification, with SKILL.md files serving as the core execution entry point. However, these Markdown files are not reproducible artifacts; they act more like instructions that can be directly executed. Hence, attackers can transform harmless-looking instructions into executable commands.

How the Attack Works

A prime example involves the popular “X (Twitter) Trends” skill. On the surface, it appears normal, but it hides a Base64-encoded backdoor. Base64 encoding obscures malicious commands, making SKILL.md seem like a configuration or installation guide. Consequently, coarse keyword-based defenses, such as curl|bash detection, often fail.

Once decoded, the command downloads and executes a first-stage program named q0c7ew2ro8l2cfqp from 91.92.242.30. This program subsequently retrieves a second-stage sample, dyrtvwjfveyxjf23, which performs the real malicious activity. This phased delivery reduces exposure and allows attackers to update payloads without altering the visible SKILL.md.

Dynamic analysis shows the second-stage sample masquerades as a system dialog box to steal user passwords. Valid credentials trigger local file collection from Desktop, Documents, and Downloads. Sensitive files, including txt and pdf formats, are compressed and sent to the C2 server.

The post OpenClaw’s ClawHub Faces Supply Chain Poisoning Threats appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.

c-node argued DeFi mainly serves crypto holders seeking self custody and dismissed stablecoin yield as non DeFi.

Vitalik said algorithmic stablecoins qualify as DeFi by transferring risk and enabling market based stability.

Buterin stressed overcollateralized and diversified backing improves stablecoin safety beyond simple yield lending.

c-node questioned whether DeFi has value beyond crypto trading. The exchange involved Ethereum co-founder Vitalik Buterin and focused on stablecoins, risk design, and user custody. The discussion also expanded into private messaging habits and platform choices.

DeFi, Self-Custody, and the Stablecoin Dispute

According to c-node, DeFi only matters for users holding crypto positions who want financial services without losing self-custody. c-node added that most other DeFi uses resemble imitations without real necessity. The post also dismissed U.S. dollar stablecoin yield products, stating they do not qualify as DeFi.

Responding on X, Vitalik Buterin challenged that framing by focusing on algorithmic stablecoins. He stated that algorithmic stablecoins qualify as genuine DeFi, even when liquidity structures appear complex. Buterin explained that counterparty risk transfer remains a key feature for users.

He added that an ETH-backed algorithmic stablecoin would still provide value. This would apply even if most liquidity came from holders managing offsetting positions elsewhere. According to Buterin, access to market-based risk handling matters.

Collateral Design and Risk Structure

Buterin also addressed stablecoins backed by real-world assets. He said these systems can still improve user risk if designed carefully. Specifically, he highlighted overcollateralization and diversification as necessary conditions.

He explained that no single backing asset should exceed the system’s overcollateralization ratio. Under that structure, the stablecoin could remain collateralized even if one asset failed. Buterin described this as a meaningful improvement for holders.

However, he excluded current yield-focused stablecoin deposits from this definition. He stated that placing USDC into lending protocols does not meet these standards.

Messaging Habits and Platform Choices

In a separate post, Buterin discussed private messaging behavior. He noted that some users keep Signal as a clutter-free inbox, while using Telegram for broader communication. This habit, he said, discourages full migration.

To manage this, he suggested using Signal’s folder feature. He also recommended apps like Session or Simplex for high-priority messages. Additionally, he encouraged users to ask Telegram contacts to switch conversations to Signal.

The post Vitalik Buterin Pushes Back on DeFi Use and Stablecoin Claims appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.

Canton Network settles approximately $350B daily and supports $6T+ in tokenized assets for regulated institutions.

Built for privacy and compliance, Canton uses Daml smart contracts with atomic settlement and regulator access.

JPMorgan, DTCC, Franklin Templeton, and others run live activity on Canton with 700k+ daily transactions.

Wall Street already runs on a blockchain most investors never see. According to Delphi Digital on X, the Canton Network settles about $350 billion daily and supports over $6 trillion in tokenized real-world assets. Built for regulated finance, the network already hosts live activity from firms including JPMorgan, DTCC, and Franklin Templeton.

What Canton Network Is and How It Works

Canton Network is a Layer 1 blockchain developed by Digital Asset for financial institutions. Unlike public blockchains, it prioritizes privacy, compliance, and rapid settlement. Transactions remain visible only to involved counterparties, while the network maintains a synchronized shared ledger.

This privacy operates at the smart contract level using Daml. The language embeds access and authorization rules directly into each transaction. As a result, two firms can settle trades without exposing details to the broader network. Regulators, however, retain appropriate access under existing oversight requirements.

Settlement also occurs in a single atomic step. Both sides exchange assets simultaneously, eliminating settlement gaps. This structure reduces counterparty risk, especially in repo markets, where large volumes move daily across traditional intermediaries.

Institutions Already Running Live Activity

Daily repo volumes on Canton reached $350 billion, rising from $280 billion in August 2025. Broadridge first deployed its Distributed Ledger Repo platform fully on the network. Repo transactions allow institutions to borrow short-term using Treasury collateral.

DTCC is working with Digital Asset to tokenize U.S. Treasury securities. The effort follows an SEC No-Action Letter and targets an MVP in the first half of 2026. DTCC also holds a co-chair role on the Canton Foundation alongside Euroclear.

JPMorgan’s blockchain unit, Kinexys, announced plans to issue JPM Coin natively on Canton. Shortly after, Fireblocks integrated the network and joined as a Super Validator.

Scale, Validators, and Network Activity

Canton processes over 700,000 transactions daily across more than 600 validator nodes. Validators include regulated firms such as HexTrust and Tharimmune. Tharimmune became the first NASDAQ-listed Super Validator, backed by a $545 million private placement.According to Delphi Digital, Canton carries more than $6 trillion in tokenized assets. The network operates without public block explorers and focuses on institutional use cases rather than retail access.

The post Canton Network Moves $350B Daily as Wall Street Goes Onchain appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.

AI.com domain sold for $70M in cryptocurrency and will debut with a Super Bowl commercial.

The platform introduces a private consumer AI agent for tasks across apps and services.

The project links Crypto.com leadership with a new consumer-focused AI initiative.

AI.com marks a new phase in consumer artificial intelligence after a record-breaking $70 million domain acquisition. The platform will introduce a personal AI agent designed to operate across apps and services for everyday users.

Record Domain Deal and Strategic Branding

AI.com became the most expensive disclosed domain purchase after Kris Marszalek acquired it for about $70 million. The Financial Times reported that the transaction was completed entirely using cryptocurrency through domain broker Larry Fischer.

Marszalek described the purchase as a long-term branding decision rather than a speculative resale asset. He positioned AI.com as a trust-building entry point for users in a fast-moving artificial intelligence market.

https://twitter.com/WuBlockchain/status/2019982367159697738?s=20

The rollout is scheduled to coincide with a Super Bowl commercial broadcast on NBC. This approach mirrors Crypto.com’s earlier strategy of using major sports events to introduce new technology brands to global audiences.

Social media reaction reflected mixed sentiment toward the announcement. Tweets and Stockwits posts noted the scale of the domain investment and its link to consumer-facing AI products.

Consumer AI Agent and Product Architecture

AI.com announced the launch of a private and personal autonomous AI agent for consumers. The agent is designed to handle actions such as messaging, organizing work, and executing tasks across connected applications.

According to the company, each agent operates in a secure and segregated environment.
User data is encrypted with individual keys, and permissions remain under user-defined capability limits.

The platform allows users to create an AI agent in about 60 seconds without technical knowledge. Free access is available at launch, while paid subscription tiers will offer expanded features and higher token limits.

Tweets promoting the product emphasized its ability to trade stocks and automate workflows. The company stated that improvements made by individual agents will be shared across the network of users.

Corporate Context and Market Response

Marszalek will continue serving as CEO of both AI.com and Crypto.com. He said the objective is to mainstream consumer AI agents in the same way cryptocurrency reached mass adoption.

Crypto.com previously signed a $700 million naming-rights agreement for a Los Angeles stadium in 2021. The firm has also entered high-profile partnerships, including ventures linked to Trump Media & Technology Group.

The company has faced criticism from some users on online forums. A Reddit post alleged that validator voting power was used to restore burned tokens, which could dilute CRO holders.

Regulatory scrutiny has also followed Crypto.com in Europe. In March 2024, Dutch authorities fined its operator €2.85 million for offering services without proper registration.

AI.com stated that future offerings may include financial service integrations and agent marketplaces. The company also referenced plans for co-social networks linking human users with autonomous agents.

The Super Bowl launch positions AI.com as a consumer gateway into agent-based artificial intelligence. The strategy connects large-scale branding with a product built for routine digital tasks and privacy-focused control.

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Illinois proposes a five-year Bitcoin holding mandate under HB1844 to support a long-term fiscal strategy.

The bill requires multisignature cold storage to secure state-held Bitcoin reserves.

Public Bitcoin donations are permitted, expanding community participation in state digital asset policy.

Strategic Bitcoin Reserve Act enters the legislative stage as Illinois proposes a structured framework for Bitcoin custody, long-term holding, and public participation at the state level.

Illinois Positions Bitcoin as a Long-Term State Asset

The Strategic Bitcoin Reserve Act was introduced through House Bill 1844 by State Representative John M. Cabello. The proposal outlines Illinois’ plan to formally hold Bitcoin as part of its state-level financial strategy.

It places Illinois alongside states already exploring digital assets within public financial frameworks. The bill establishes a mandatory five-year holding period for any Bitcoin acquired by the state.

https://twitter.com/CryptoPatel/status/2019992015929299342?s=20

This requirement frames Bitcoin as a long-term reserve rather than a short-term trading instrument. Supporters view the structure as a response to inflation pressures affecting traditional state reserves.

Public discussion around the bill increased following commentary shared on X by policy and crypto observers. Several posts focused on Illinois aligning fiscal planning with decentralized asset ownership models.

These reactions reflect growing attention toward state-managed Bitcoin initiatives across the country.

Security Standards and Custody Framework Defined in HB1844

The Strategic Bitcoin Reserve Act includes strict custody rules centered on cold storage systems. All Bitcoin held under the act must be stored offline using multisignature authorization structures.

This design requires multiple approvals for transactions, reducing single-point access risks.

The custody framework mirrors practices already used by institutional digital asset custodians.

Cold storage requirements aim to protect state-held Bitcoin from cyber threats and unauthorized access. Lawmakers emphasized asset security as a foundational element of public trust in digital reserves.

Discussion on X highlighted the bill’s focus on security-first custody architecture. Several analysts noted the multisignature requirement as a standard aligned with institutional-grade safeguards.

These observations framed Illinois’ approach as procedural rather than experimental.

Public Participation and Broader Fiscal Context

The Strategic Bitcoin Reserve Act allows Illinois residents to donate Bitcoin directly to the state reserve. This provision enables voluntary public participation without mandating taxpayer exposure to market volatility.

It also introduces a new model of community-supported digital asset reserves. The bill presents Bitcoin as a diversification tool alongside traditional state-held assets.

Illinois faces longstanding fiscal pressures, including high debt levels and budgetary constraints. Supporters argue that diversified reserves may offer balance during periods of currency devaluation.
Posts on X referenced Illinois, following early adopters like Texas, Arizona, and Florida.
Observers noted that similar proposals could emerge as regulatory clarity continues to develop.

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XRP spot ETFs recorded $15.16 million in daily inflows, led by Bitwise and Franklin funds.

Analyst charts show XRP trading within a long-term rising channel with defined retracement levels.

AIcom’s $70 million crypto-paid acquisition reflects capital alignment between AI and digital assets.

XRP sits at the center of renewed institutional focus as ETF inflows accelerate, while capital movement across crypto and AI signals broader market positioning shifts.

AIcom Acquisition Reflects Capital Rotation Toward Emerging Technologies

XRP market activity coincides with a major technology-focused crypto transaction reported by the Financial Times. Crypto.com co-founder and CEO Kris Marszalek acquired the AIcom domain for about $70 million.

The transaction stands as the largest disclosed domain name deal on record and was settled entirely in cryptocurrency. Marszalek plans to launch a consumer-facing AI platform under the AIcom brand.

https://twitter.com/Xfinancebull/status/2020060029961793737?s=20

The platform is expected to feature an AI agent capable of messaging, app usage, and stock trading. Promotion plans reportedly include a Super Bowl advertisement, signaling mainstream audience targeting.

The deal reflects a long-term view that artificial intelligence represents a defining technological cycle. Capital allocation through cryptocurrency highlights confidence in blockchain-native settlement for high-value transactions.

This transaction occurred as digital asset markets showed renewed institutional engagement across selected assets.

XRP Price Structure Draws Attention From Technical Analysts

XRP technical analysis gained visibility following a chart commentary shared by analyst Egrag Crypto on X. The chart tracks XRP price behavior from 2013 through projected levels extending toward 2030.

https://twitter.com/egragcrypto/status/2019999272528220586?s=20

It presents price action within a rising channel defined by long-term support and resistance boundaries. A 21-period exponential moving average appears as a recurring reference point for price interaction.

Historical movements show XRP repeatedly testing and rebounding around this EMA during trend shifts. Such behavior often reflects changing short- to medium-term market positioning rather than directional certainty.

The chart also outlines projected price zones, including targets near $12 and $15. Retracement levels near $1.05 and $1.4587 are marked as potential consolidation areas.

Percentage moves displayed reflect prior volatility cycles rather than forward-looking certainty.

XRP ETF Inflows Signal Institutional Repositioning

XRP spot ETFs recorded $15.16 million in net inflows within 24 hours. The Bitwise XRP ETF accounted for $8.29 million of that daily total.

Its cumulative inflows reached $358 million, placing it among the largest XRP-focused funds. The Franklin XRP ETF followed with $3.94 million in single-day inflows.

Its cumulative total now stands at $323 million, reflecting steady participation growth.
Together, these funds contributed to rising aggregate exposure across regulated XRP investment vehicles.

Total net asset value across XRP spot ETFs has surpassed $1.04 billion. The reported XRP net asset ratio reached 1.17 percent during the same period.

Market participants note that capital movement often precedes broader sentiment alignment rather than following it.

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Google Trends data shows retail attention peaks during sharp Bitcoin price declines and rising uncertainty.

Bitcoin trades far below long-term averages, reflecting a prolonged Bitcoin Bear Market Zone.

Market commentary points to patience and stabilization rather than short-term recovery signals.

Bitcoin Bear Market Zone conditions are drawing renewed attention as Google Trends data aligns with sharp price volatility and cautious investor behavior across global markets.

Retail Search Activity Rises During Price Stress

Bitcoin Bear Market Zone dynamics became visible as Google search interest surged to its highest level this year. Search scores reached 100 during a rapid price decline from roughly $81.5k to near $60k.

This pattern reflects heightened retail attention during moments of sharp market stress. Retail investors often seek clarity when price movements accelerate within a short timeframe.

Source: X

Search activity suggests fear-driven information gathering rather than structured investment planning. Such behavior commonly appears during volatile phases across previous Bitcoin market cycles.

Market observers on X noted that spikes in online interest frequently accompany uncertainty.
These posts described rising searches as reactions to fear, uncertainty, and doubt.

The commentary framed search behavior as a response to sudden price dislocation.

Price Compression Signals Extended Bear Conditions

The Bitcoin Bear Market Zone is further reflected through the Mayer Multiple Z-Score readings. Current levels sit below minus 0.9, placing Bitcoin well under its long-term average.

Historically, similar conditions aligned with extended consolidation rather than immediate reversals. The chart structure shows muted price action following prior market peaks.

This environment limits momentum and sustains hesitation among both new and experienced participants. Price compression tends to test conviction rather than reward early positioning.

Several analysts referenced on X described this phase as slow and demanding.
Their posts emphasized absorption and stabilization rather than rapid directional moves.
Such observations align with prior prolonged bear market structures.

Sentiment Remains Muted as Conviction Is Tested

Within the Bitcoin Bear Market Zone, sentiment remains restrained across trading communities. Confidence appears limited as investors assess whether declines represent a correction or a continuation.

https://twitter.com/CryptoBull009/status/2020019781685084202?s=20

This uncertainty keeps participation cautious and trading volumes selective. Historical data shows similar zones often preceded trend changes after extended stagnation.

However, these periods rarely provide clear signals during early formation stages. As a result, many participants remain on the sidelines awaiting confirmation.

Recent X commentary described this phase as uncomfortable and quiet. Such messaging reflects long-standing behavioral patterns seen during deep Bitcoin bear cycles.

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Bitcoin’s sudden drop rattled altcoins, but the full impact may take months to show.

No major exchange collapses yet; better risk controls and automatic deleveraging help contain fallout.

Rumors blame an overleveraged Asian trading firm, but altcoin losses aren’t tied to Wintermute.

Crypto markets are bracing for aftershocks following last week’s abrupt Bitcoin-driven drop, which rattled the altcoin complex. According to Wintermute CEO Andy, while the immediate turmoil is visible, the full consequences will only surface in the coming months. 

He explained, “People do dumb shit in peak bull mania. They always do. Last time we had FTX, Celsius, and others doing all sorts of unsophisticated lending. This time we have DATs buying $SOL above $225, $ETH above $4,000 and $BTC above $100K. Those guys are shaking in their boots right now.” Hence, the market could face delayed but significant repercussions from these risky moves.

Crypto analyst Evgeny Gaevoy, known as wishful_cynic, urged caution regarding exchange collapse rumors. He highlighted that although it is possible “somebody blew up,” there is currently no evidence of broader market spillovers. 

Gaevoy compared past incidents, noting that Three Arrows Capital’s collapse after the Terra crash spread quickly through private channels, while FTX’s troubles became evident through bailout talks with Binance. However, he sees no comparable signs in today’s ecosystem, as most leverage comes from derivatives and exchanges now enforce better risk controls, including automatic deleveraging.

Rumors Point to Asian Trading Firm

The rumor mill suggests the last week’s blow-up stemmed from an Asian trading firm overleveraged on precious metals. After a margin call, the firm reportedly liquidated substantial BTC positions via IBIT ETFs. Consequently, the October 10 crash severely impacted altcoins, leaving lingering uncertainty about which firms were most affected. 

Despite this, Wintermute maintains that the firm itself was not responsible for the altcoin fallout. Andy stated, “The altcoin complex is fucked, but it’s not because of WM.”

Unlike previous cycles, most exchanges now manage leverage more transparently, mitigating catastrophic risks. Additionally, derivative-based exposure provides clearer visibility into potential losses. Moreover, automatic deleveraging ensures that individual failures do not cascade into the broader market.

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Only 8% of Bitcoin sits in legacy addresses that could be threatened by quantum tech decades from now.

Breaking Bitcoin’s encryption needs millions of qubits—current tech is far from capable.

Users can safely move coins to secure addresses; aggressive protocol changes aren’t needed yet.

Bitcoin’s cryptographic security faces growing speculation around quantum computing, but experts stress the threat is manageable, not imminent. CoinShares highlights that while Shor’s algorithm could theoretically expose ECDSA and Schnorr signatures, practical risks remain decades away. 

Approximately 1.6 million BTC, or 8% of total supply, reside in legacy P2PK addresses with visible public keys. However, only about 10,200 BTC sit in UTXOs large enough to disrupt the market if stolen. The rest remain in smaller amounts, making targeted attacks prohibitively expensive.

The conversation revolves around differentiating hype and evidence-based analysis. Bitcoin uses elliptic curve digital signatures for transaction authorization and SHA-256 hashes for protecting addresses. Quantum computers cannot modify or eliminate the supply limit of 21 million or validation directness.

Besides, modern addresses such as P2PKH and P2SH encrypt the public keys until the funds are spent. As such, the purported 25% of the Bitcoins that can be compromised in the long term are overstated, as best practices for behavioral responses can overcome temporary challenges.

Timeline and Technical Feasibility

Experts agree that breaking secp256k1 within a practical timeframe requires millions of logical qubits. “To break current asymmetric cryptography, one would need something in the order of millions of qubits. Willow, Google’s current computer, is 105 qubits,” said Ledger CTO Charles Guillemet. 

Achieving this scale remains at least a decade away. Long-term attacks on dormant P2PK coins could take years, whereas short-term mempool attacks would require impossible <10-minute computations. Additionally, even under optimistic projections, stealing coins from 32,607 individual ~50 BTC UTXOs would take millennia.

Caution Over Aggressive Interventions

Proposals for soft forks or burning vulnerable coins carry risks. Prematurely introducing quantum-resistant addresses could create bugs, undermine decentralization, or waste developer resources. 

Dr. Adam Back emphasized, “Bitcoin can adopt post-quantum signatures. Schnorr signatures paved the way for more upgrades, and Bitcoin can continue evolving defensively.” Users can voluntarily migrate funds as quantum technology progresses, making drastic interventions unnecessary.

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Bitcoin OG Garrett Jin withdraws 80,000 Ethereum from Binance as crypto markets weaken. The transfer occurred while Bitcoin fell below $71,000 and Ethereum traded under $2,100.

Market Conditions Surround the Withdrawal

Bitcoin OG Garrett Jin withdraws 80,000 Ethereum from Binance during a period of broad market stress. The transfer was valued at approximately $168 million, based on prevailing market prices. On-chain trackers reported the movement in real time.

The crypto market declined sharply during the same session. Bitcoin slipped under $71,000, while Ethereum fell below $2,100. 

CoinGecko data showed that the total market capitalization had dropped to nearly $2.4 trillion. Several traders noted Jin’s pattern of moving funds during extreme price swings. 

Large withdrawals from exchanges often attract attention as potential positioning signals. Jin previously deposited large Ethereum holdings into Binance in late 2025, according to Lookonchain. 

This earlier activity contrasts with the latest outflow. Observers viewed the shift as a change in exposure rather than a routine transaction.

The trader remains widely followed for his timing during turbulent periods. His on-chain movements are frequently monitored by analysts and retail participants. 

https://twitter.com/lookonchain/status/2019963993088217365?s=20

Each transaction becomes a data point in market sentiment discussions.

Shared Binance Address Draws Attention

Blockchain data shows Garrett Jin and Trend Research using the same Binance deposit address on the same day. Jin sent 10,000 ETH, worth about $20.4 million, to that address. 

Trend Research transferred nearly 7.989 million USDT shortly after. Bitcoin OG Garrett Jin withdraws 80,000 Ethereum from Binance while activity is clustered around this single address. 

Analysts described the pattern as unusual for separate entities managing large portfolios. Exchange routing systems may explain part of the overlap.

The address balance rose from under $25 million to more than $30 million within a short period. This increase suggested coordinated asset movement rather than isolated deposits. 

Some market participants viewed the activity as liquidity management during volatile trading hours. Others questioned whether the transfers reflected shared strategies. 

No public confirmation of collaboration has been reported. The repeated use of the address kept attention on Ethereum flows. 

Each new transaction was tracked closely by on-chain observers. The pattern added another layer to the ongoing market narrative.

Losses Among Ethereum Bulls Provide Context

Several high-profile Ethereum investors have reported heavy losses in recent months. Tom Lee of Bitmine bought more than 4.2 million ETH at an average cost of $3,854. 

Falling prices reduced the value of that position by billions. Garrett Jin swapped about 35,991 BTC for Ethereum and recorded losses above $770 million. 

He also opened a leveraged long position involving 223,340 ETH. That position was later liquidated for about $195 million.

Jack Yi of Trend Research purchased 651,000 ETH for roughly $1.46 billion at an average price of $3,300. The decline in Ethereum pushed his unrealized loss close to $680 million. 

These figures show the scale of exposure among large traders. Bitcoin OG Garrett Jin withdraws 80,000 Ethereum from Binance while still holding over 30,600 BTC. 

His Bitcoin position remains valued above $2 billion despite market weakness. The contrast reflects diversified exposure across major assets.

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Bithumb mistakenly airdropped ~620,000 BTC to 695 users, briefly crashing its BTC price to $55,000.

Exchange recovered 99.7% of BTC and will reimburse losses at 110%, plus fee waivers and bonuses.

Regulators launched probes as Bithumb adds stricter controls and a ₩100B customer protection fund.

South Korean crypto exchange Bithumb confirmed it will compensate customers after accidentally distributing 620,000 Bitcoin. The error, occurring on February 6 during a promotional airdrop, affected 695 users and temporarily triggered a major Bitcoin price drop. According to Bithumb CEO Lee Jae-won, users who sold coins at a loss will receive full reimbursement plus an additional 10%.

Details of the Airdrop Glitch and Market Impact

The mistake happened when an employee intended to distribute 2,000 KRW in rewards but mistakenly credited Bitcoin instead. Each recipient received roughly 2,000 BTC, causing some to sell immediately. 

As a result, Bithumb’s BTC price dropped to $55,000, impacting the broader market, though Bitcoin remained above $66,000 elsewhere. The company blocked accounts and halted withdrawals within 20 minutes, recovering 618,212 BTC or 99.7% of the total.

Compensation and Customer Protection Measures

Bithumb estimates total losses from panic selling at about 1 billion KRW ($680,000). The company will reimburse all affected users with 110% of losses, provide 20,000 KRW ($15) to users active during the incident, and waive trading fees for seven days. Additionally, Bithumb announced a permanent Customer Protection Fund of 100 billion KRW ($68 million) for future incidents.

Regulatory Response and System Upgrades

South Korea’s Financial Services Commission and Financial Supervisory Service are reviewing the incident. FSC Vice Chairman Kwon Dae-young led an emergency inspection on February 7, with officials from the Financial Intelligence Unit present. 

Bithumb confirmed it will implement system improvements, including multi-step payment approvals, enhanced asset verification, and AI-powered monitoring for abnormal transactions, while coordinating closely with regulators to prevent similar errors.

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