☀️ 4 big stories this morning: A hacker shorts BTC with 40x leverage, and an 11-year-old XRP vulnerability was only fixed yesterday
These four stories are exciting enough to make your morning coffee taste sweet without any sugar.
① $XRP hid a major vulnerability for 11 years—it was just fixed
ChainCatcher reports: XRP Ledger fixed a payment-system vulnerability that dated back to 2015. Using specially designed payment transactions, an attacker could bypass limits on the calculation of token exchange amounts, creating and spending large amounts of XRP out of thin air—directly threatening the mechanism that caps the total supply at 100 billion tokens.
Researchers Cayden Liao and Veria AI reported the vulnerability on September 22. RippleX reproduced it and confirmed that “the generated XRP could be used in subsequent transactions.” The good news: officials say there is no evidence the vulnerability was ever exploited on the public network, and a fix was released in xrpld 3.4.1 on September 25.
Takeaway: It went unexploited for 11 years, meaning nobody ever pressed XRP’s “money-printing button”—a close call, but nothing more. Still, bears will keep bringing up the story of a “blockchain that can print money out of thin air.” Holders needn’t panic, but should know that this risk really did exist.
② A hacker may have moved laundered funds to Hyperliquid to short $BTC with 40x leverage
According to on-chain analyst Yu Jin (@EmberCN), as reported by ChainCatcher: A wallet received 263 ETH from Tornado Cash yesterday, sold it for 643,000 USDC, and deposited the funds into Hyperliquid. It then opened a cross-margin short of 305.5 BTC at $83,068 using the maximum 40x leverage. The position is worth about $25.38 million, with a liquidation price of $84,088. It is currently showing an unrealized profit of around $160,000.
Takeaway: The liquidation price is only about 1.3% above the current price (last checked at $82,987 on Kraken this round), leaving almost no room for error—this is a high-stakes bet on a price drop. The proceeds are too risky to hold for long, so the trader can only move in and out quickly. On the flip side, if BTC pushes above $84,088, this $25.38 million short position becomes ready-made fuel for a squeeze.
③ Last week’s ETF report card: ETH saw $540 million in outflows, while SOL ended its 14-week inflow streak
The Block, via ChainCatcher: U.S. spot Ethereum ETFs saw net outflows of $542.1 million last week, their worst weekly performance since January, with outflows continuing for nine straight days. Solana ETFs saw net outflows of $24.8 million last week, ending a 14-week streak of consecutive inflows and setting the largest single-week outflow since the product launched.
But don’t look only at the totals—according to Arkham monitoring reported by ChainCatcher, Grayscale’s mini ETH ETF bought a net $103.3 million worth of ETH over the past 20 days, while its older ETHE product saw $71.6 million in outflows over the same period. Taken together, Grayscale clients actually bought a net roughly $31.7 million worth of ETH.
Takeaway: A large chunk of the outflows came from money moving internally from ETHE to the lower-fee mini fund—not institutions cashing out. The headline figure of $540 million looks alarming, but once you break it down, it’s mostly a “move to a cheaper lane.” Still, nine straight days of outflows and the worst week since January show that marginal buyers are indeed hesitating.
④ F2Pool co-founder Wang Chun makes another move: Withdraws 5,173 ETH in 7 hours
Foresight News cites monitoring by @ai_9684xtpa: Wang Chun withdrew 5,173.41 ETH, worth about $12.86 million, from Binance over the past 7 hours.
Put it together: On October 9, he had just swapped 235.5 WBTC (about $19.31 million) for 7,848.5 ETH. That brings his total ETH accumulation this week to more than 13,000 ETH—the mining-pool mogul is putting his money where his mouth is. ETH is still holding at $2,505 (the latest Kraken price checked this round).
#今早大事 #CryptoMorningBrief
Pick a side: ETH ETFs saw $540 million in outflows last week, while Wang Chun quietly added 13,000 ETH this week—which do you trust, ETF investors’ feet or the mining mogul’s hand? Choose your side in the comments.
Not investment advice.
These four stories are exciting enough to make your morning coffee taste sweet without any sugar.
① $XRP hid a major vulnerability for 11 years—it was just fixed
ChainCatcher reports: XRP Ledger fixed a payment-system vulnerability that dated back to 2015. Using specially designed payment transactions, an attacker could bypass limits on the calculation of token exchange amounts, creating and spending large amounts of XRP out of thin air—directly threatening the mechanism that caps the total supply at 100 billion tokens.
Researchers Cayden Liao and Veria AI reported the vulnerability on September 22. RippleX reproduced it and confirmed that “the generated XRP could be used in subsequent transactions.” The good news: officials say there is no evidence the vulnerability was ever exploited on the public network, and a fix was released in xrpld 3.4.1 on September 25.
Takeaway: It went unexploited for 11 years, meaning nobody ever pressed XRP’s “money-printing button”—a close call, but nothing more. Still, bears will keep bringing up the story of a “blockchain that can print money out of thin air.” Holders needn’t panic, but should know that this risk really did exist.
② A hacker may have moved laundered funds to Hyperliquid to short $BTC with 40x leverage
According to on-chain analyst Yu Jin (@EmberCN), as reported by ChainCatcher: A wallet received 263 ETH from Tornado Cash yesterday, sold it for 643,000 USDC, and deposited the funds into Hyperliquid. It then opened a cross-margin short of 305.5 BTC at $83,068 using the maximum 40x leverage. The position is worth about $25.38 million, with a liquidation price of $84,088. It is currently showing an unrealized profit of around $160,000.
Takeaway: The liquidation price is only about 1.3% above the current price (last checked at $82,987 on Kraken this round), leaving almost no room for error—this is a high-stakes bet on a price drop. The proceeds are too risky to hold for long, so the trader can only move in and out quickly. On the flip side, if BTC pushes above $84,088, this $25.38 million short position becomes ready-made fuel for a squeeze.
③ Last week’s ETF report card: ETH saw $540 million in outflows, while SOL ended its 14-week inflow streak
The Block, via ChainCatcher: U.S. spot Ethereum ETFs saw net outflows of $542.1 million last week, their worst weekly performance since January, with outflows continuing for nine straight days. Solana ETFs saw net outflows of $24.8 million last week, ending a 14-week streak of consecutive inflows and setting the largest single-week outflow since the product launched.
But don’t look only at the totals—according to Arkham monitoring reported by ChainCatcher, Grayscale’s mini ETH ETF bought a net $103.3 million worth of ETH over the past 20 days, while its older ETHE product saw $71.6 million in outflows over the same period. Taken together, Grayscale clients actually bought a net roughly $31.7 million worth of ETH.
Takeaway: A large chunk of the outflows came from money moving internally from ETHE to the lower-fee mini fund—not institutions cashing out. The headline figure of $540 million looks alarming, but once you break it down, it’s mostly a “move to a cheaper lane.” Still, nine straight days of outflows and the worst week since January show that marginal buyers are indeed hesitating.
④ F2Pool co-founder Wang Chun makes another move: Withdraws 5,173 ETH in 7 hours
Foresight News cites monitoring by @ai_9684xtpa: Wang Chun withdrew 5,173.41 ETH, worth about $12.86 million, from Binance over the past 7 hours.
Put it together: On October 9, he had just swapped 235.5 WBTC (about $19.31 million) for 7,848.5 ETH. That brings his total ETH accumulation this week to more than 13,000 ETH—the mining-pool mogul is putting his money where his mouth is. ETH is still holding at $2,505 (the latest Kraken price checked this round).
#今早大事 #CryptoMorningBrief
Pick a side: ETH ETFs saw $540 million in outflows last week, while Wang Chun quietly added 13,000 ETH this week—which do you trust, ETF investors’ feet or the mining mogul’s hand? Choose your side in the comments.
Not investment advice.