News & Research

Sandwich attack bots on Solana are estimated to have made about $29.7 million over roughly 11 months, excluding costs such as transaction fees, CryptoSlate reported. According to blockchain data firm Bitquery, about 6.85 million sandwich attacks occurred from Oct. 30 last year to Oct. 7 this year, targeting around 2.15 million addresses. Bitquery said 96% of the attacks took place on memecoin platforms Pump.fun and PumpSwap. A sandwich attack involves a bot buying a token just before another user’s trade to push the price higher, then selling after that trade is executed to capture a profit. Bitquery’s analysis found trades routed through Jupiter and executed on Pump.fun or PumpSwap with slippage tolerance set at 20% to 50% had a victimization rate 14 times higher than trades with slippage tolerance below 3%. A wider slippage setting can allow a trade to go through at a worse-than-expected price. Still, Bitquery said a wider tolerance does not necessarily mean a higher attack rate, and the comparison was limited to some trades routed through Jupiter.

An anonymous whale on Hyperliquid has opened long positions in BTC, ETH and NEAR. The address opened a 200 BTC long with 40x leverage at an average entry price of $83,604.5, a 4,000 ETH long with 25x leverage at $2,536.23, and a roughly 332,000 NEAR long with 10x leverage at $5.81. The combined notional entry value was about $28.8 million, while the positions are now worth about $29.04 million, for an unrealized profit of about $243,000.

OKX founder Star Xu criticized Binance founder Changpeng Zhao over comments describing Binance’s user compensation after the Oct. 10, 2025 crypto market crash as a voluntary act of goodwill. In a post on X, Xu said the selloff affected user assets worth tens of billions of dollars, caused major financial losses and damage across the industry, and pushed the crypto market into a prolonged slump. Xu added that investor assets and trust were also badly hurt. Xu said Zhao stated in a recent interview that Binance voluntarily compensated affected users by about $800 million even though it had no legal obligation to do so. Xu argued it was not appropriate to frame the episode as a case highlighting Binance’s voluntary compensation and goodwill while many users suffered heavy losses and the industry was still struggling to restore trust.

Haseeb Qureshi, managing partner at crypto venture firm Dragonfly Capital, said Hyperliquid (HYPE) is expanding the overall market rather than taking share from centralized exchanges, according to Odaily. Qureshi said Hyperliquid serves as a primary venue for some users who face difficulties with know-your-customer requirements or cannot use major exchanges. Even as Hyperliquid’s share has grown, trading volume on centralized exchanges has not declined, Qureshi said. He added he is positive on demand for the crypto market and pre-IPO stock trading over the next six to 12 months. Looking further ahead, Qureshi said the line between crypto venture capital and traditional venture capital will blur by 2030 as crypto technology is adopted in fintech, digital banks, stablecoins, and consumer products. He said investment firms including Dragonfly are likely to increase investments in fintech, emerging technology, and AI companies. Qureshi also said an investment firm’s competitive edge depends not only on industry knowledge, but also on market understanding, networks, and the ability to help founders solve real-world problems.

Ledger said it identified an unauthorized hardware component in at least one device tied to a recent crypto theft case, according to CoinDesk. The confirmed cases so far involve products sold through Southeast Asian distributor CryptoBilis, Ledger said. On-chain analysts estimated the incident drained about $86 million to $93.4 million in assets from more than 300 wallets across multiple blockchains.

The Coinbase Bitcoin premium index fell to -0.12%, its lowest level in recent days, and remained in negative territory for 19 straight days, CoinGlass reported. The index tracks the BTC price gap between Coinbase and Binance, and a prolonged negative reading is generally interpreted as relatively weak Bitcoin buying demand in the U.S. market.

SWI Group, which took control of Genesis Digital Assets, a Bitcoin mining company backed by bankrupt crypto exchange FTX, is focusing on AI data centers rather than BTC mining, The Wall Street Journal reported. Max-Hervé George, SWI’s CEO, said in English, "비트코인 채굴에는 전혀 관심이 없다. 컴퓨팅 인프라를 확대하려면 자금이 필요하다" according to the report. According to WSJ, SWI is seeking to provide data centers in the U.S. and Sweden acquired through the Genesis Digital deal to major cloud operators, and has raised about $900 million to expand and upgrade those facilities. The group is also selling three BTC mining sites still located in Kazakhstan. Genesis Digital previously received more than $1 billion in investment from Alameda Research, an FTX affiliate, and became embroiled in litigation over the return of those funds after FTX collapsed. That lawsuit was dropped in June.

Bithumb announced it will delist Across Protocol (ACX) at 6:00 a.m. UTC on Nov. 11. Coinone will delist the token at the same time today. The exchanges said the foundation’s explanatory materials did not resolve the reasons for the investment warning designation, and a broader review of the foundation’s disclosures, the virtual asset’s utility and its business performance found it did not meet the standards for maintaining trading support.

Digital asset investment manager 3iQ announced today that, through its UAE-based sister company 3iQ Middle East, it has received preliminary approval for a Category 4 license from the Financial Services Regulatory Authority of Abu Dhabi Global Market. The approval follows the company’s announcement of a strategic partnership with UAE-based digital asset investment manager Further. Through 3iQ’s managed account platform, QMAP, the two companies plan to support institutional investors’ digital asset investments. The preliminary approval does not mean a formal license has been issued, and follow-up regulatory procedures remain.

An anonymous whale sold 410.14 BTC worth $34.16 million on Hyperliquid and then bought 14,341 ETH worth $36.14 million across multiple decentralized exchanges, according to Lookonchain.