PANews has published a new daily roundup covering regulation, project developments, fundraising, market commentary and on-chain data across the crypto sector.
Top stories
The publication’s headline items included PlanB’s view that Bitcoin has moved above its 50-week moving average and is now targeting the 100-week moving average near $89,000, with the analyst saying the bear market is over; Chengming Technology’s legal demand over alleged unauthorized data uploads by Zhipu’s ZCode client; a North Korea-linked hacking campaign that compromised more than 30,000 devices and stole roughly $10.7 million from more than 7,000 crypto wallets; ZachXBT’s accusation that zkSNARKs is an eight-figure cash-grab; attacks on Fetch.ai and NuNet that together caused about $2 million in losses; Universal’s plan to wind down over 60 days and shut on Nov. 17; filings by Kalshi and Kraken parent Payward for perpetual contracts tied to individual U.S. stocks; and Michael Saylor’s argument that digital assets are best protected through broad adoption rather than restrictions in a CLARITY compromise bill.
Regulation and macro
Istanbul breaks up alleged $3 billion crypto investment fraud ring
According to The Jerusalem Post, the Istanbul Chief Public Prosecutor’s Office said authorities dismantled an international investment fraud network allegedly run by Israeli citizens and operating in Turkey, with more than $3 billion involved.
The operation was carried out jointly by Turkey’s Interior Ministry, MIT, the Istanbul prosecutor’s office, police cybercrime units, Interpol and MASAK. Of 239 suspects, 191 were arrested.
Prosecutors said the network used companies posing as service, consulting and tourism centers to lure investors through social media into forex and cryptocurrency trading schemes that promised high returns. When victims tried to withdraw funds, they were allegedly told their accounts had been frozen and were asked to make additional payments.
Authorities searched 44 locations and 286 addresses, seizing vehicles, real estate, bank accounts and crypto assets valued at about 1.5 billion Turkish lira.
Kalshi and Kraken parent seek approval for stock-linked perpetuals
Cointelegraph reported that prediction market platform Kalshi filed a proposed rule change with the U.S. Securities and Exchange Commission and separately sought approval from the Commodity Futures Trading Commission to launch perpetual contracts tied to U.S. individual stocks.
The contracts would have no preset expiry and would use periodic funding-rate settlements to keep prices aligned with the underlying assets. They would be treated as security futures products and cleared by CFTC-registered Kalshi Klear.
On the same day, Kraken parent Payward, through Bitnomial Exchange, filed its own application. The initial lineup would include perpetuals linked to 10 U.S. stocks including Tesla, Nvidia, Apple, Microsoft and Amazon, with a plan to move toward 24-hour trading, five days a week.
Project developments
Chengming Technology demands accountability over ZCode data uploads
Chengming Technology in Taiyuan sent a formal letter to Beijing Zhipu Huazhang, demanding accountability over what it described as unauthorized uploads of company data assets and trade secrets by the ZCode client, while reserving the right to pursue legal action.
The company said independent evidence collection found the uploads were triggered automatically and occurred in batches, covering complete archived files that included full project source code, database passwords, cloud service credentials and employee personal information. It said the scope went far beyond what was described in the product’s privacy policy.
Chengming also said that although the client was updated to version 3.12.3 on Sept. 16, upload behavior was still detected in the early hours of the day Zhipu issued its public apology, leading the company to question Zhipu’s statement that the issue had already been fixed. It also said ZCode network requests pointed to a Singapore entity while the contracting party was Beijing Zhipu Huazhang.
Chengming asked Zhipu to provide a written response by Oct. 10, delete the data, explain where the data went, provide operation logs and issue proof of deletion. Zhipu has not publicly responded.
Universal to wind down and shut on Nov. 17
Cross-chain asset protocol Universal said it will gradually shut down because user adoption over the past two years did not reach the level needed to sustain the protocol over the long term.
The protocol will continue operating normally for 60 days through Nov. 17. During that period, users can sell uAssets through the app or redeem the underlying assets directly.
After Nov. 17, the protocol will close formally and remaining uAssets will be redeemed through smart contracts. On Base, uSOL, uXRP, uDOGE, uADA, uBTC and uLTC will be redeemed into their corresponding bridged assets, while all other assets will be redeemed into USDC. Final redemption asset details and smart contract information will be released before the shutdown.
MultiversX first flags an issue, then confirms attack and pauses mainnet
MultiversX initially said it was investigating a potential issue detected on mainnet, adding that its top priority was to protect users and keep the network secure and reliable. It said another update would come within 12 hours or once there was a clear conclusion.
It later said an attacker had attempted to exploit an atomicity issue at the mainnet virtual machine layer, causing invalid state changes on-chain. To prevent broader impact, the network was paused.
The engineering team said a fix had been prepared and was being validated in a shadow fork environment. If testing succeeds, the team will coordinate deployment to mainnet with validators, exchanges and infrastructure partners.
MultiversX also said it is evaluating a targeted recovery plan intended to preserve finalized transaction history and legitimate user states while handling only the invalid changes related to the incident. Users were told not to submit or rebroadcast transactions and not to deposit or withdraw EGLD or ESDT through exchanges or cross-chain bridges for now.
Funding
Qianjue Robotics completes strategic financing worth hundreds of millions of yuan
According to STAR Market Daily, Shanghai-based embodied tactile technology company Qianjue Robotics said it completed two consecutive rounds of strategic financing worth hundreds of millions of yuan.
The company had previously disclosed a financing round worth more than 100 million yuan. Investors included embodied intelligence industry participants, Tianji Capital and Jide Electric. Its shareholder base includes Hillhouse Ventures, Yuanhe Origin and Futeng Capital, along with strategic backers such as Li Auto, Zhiyuan Robotics and Jide Electric.
The new funds will be used for product upgrades, business expansion and industrial deployment, with a focus on accelerating iteration and scaled delivery of high-precision visual-tactile sensors and advancing research into tactile embodied models and tactile world models.
Views and analysis
Peter Schiff says tokenized stocks are bearish for Bitcoin
Economist Peter Schiff said he found Bitcoin’s sharp rise after the SEC’s tokenized stock announcement hard to understand because, in his view, the development is actually negative for Bitcoin. He argued that Bitcoin now has to compete with tokenized securities.
Schiff said tokenized assets backed by profitable, dividend-paying companies are a superior and more reliable store of value, offering the convenience advantages of Bitcoin without what he described as the risk of a decentralized Ponzi collapse.
SlowMist warns of a full iOS attack chain
SlowMist chief information security officer 23pds said black-market operators have built a full attack chain targeting iOS users. The chain includes extracting private keys and seed phrases through malicious links, gaining JavaScript-layer read and write capability through WebKit/JSC memory corruption, bypassing PAC to obtain native call capability, escaping the WebContent sandbox, and escalating privileges at the kernel level to gain root access and exfiltrate Keychain and wallet data.
He said affected versions range from iOS 13 to 26.5 and urged users to upgrade as soon as possible.
PlanB says Bitcoin has cleared the 50-week average and the bear market is over
Analyst PlanB said Bitcoin has moved above its 50-week moving average, around $79,000, and that the next target is the 100-week moving average, around $89,000.
PlanB said the bear market has ended. He cited an August closing price of $78,571, the share of Bitcoin in profit rising from 50% to 72%, and monthly RSI increasing from 41 to 51. Based on those figures, he said the bottom has passed and the outlook is bullish.
Jiang Zhuoer says coin-margined profit reached 34%
Lebi Pool founder Jiang Zhuoer said that after several months of trading, his coin-margined profit reached 34% and his USDT-margined profit reached 92%, close to doubling.
He said the keys to profit were position sizing, trading and token selection. He added that the market is now in a bull cycle, with a default position of fully allocated ETH spot. He said recent short positions mattered less than long-term full spot exposure, and that shorts were mainly used to hedge pullbacks after rallies.
Vitalik responds to claim that privacy is disappearing
After Paradigm CTO Georgios Konstantopoulos said that “from now on, privacy will completely disappear,” Vitalik replied: “It only disappears if you give up on it. I’m not giving up on privacy. I’m going to fight for it twice as hard.”
ZachXBT accuses zkSNARKs of being an eight-figure cash grab
BeInCrypto reported that ZachXBT accused the newly launched Zcash NFT project zkSNARKs of being an eight-figure cash-grab, saying its blind auction raised $17 million despite having no utility.
ZachXBT said the team secured a 10% allocation and 5% royalties with minting costs of only about $2,000, and compared the project to an earlier Ordinals scam.
Michael Saylor says adoption, not CLARITY restrictions, is the best protection
Michael Saylor said the digital asset industry should move forward under supportive frameworks from the SEC, CFTC, the Treasury Department and banking regulators rather than accept restrictions in the final compromise version of the CLARITY bill.
He criticized the September CLARITY compromise for limiting rewards on payment stablecoin holdings and imposing extra restrictions on the migration of community bank deposits, saying those measures would hinder competition and innovation. He added that the GENIUS Act already addresses issuer interest payments.
Saylor said the industry should accelerate product rollout under the existing legal framework, including Bitcoin custody and lending, tokenized stocks, stablecoin payments and integrated exchange services. In his words, real protection comes from millions of satisfied users.
Saylor answers Jason Calacanis’ criticism of Bitcoin
CoinDesk reported that investor Jason Calacanis criticized Bitcoin after it returned to $80,000, calling the move a “dead cat bounce” and asking what Bitcoin actually is after 17 years. He argued that it is not good for trading or smart contracts, that the user experience is intimidating, and that its supporters have shifted from “pirates” to “suits in orange ties.”
Saylor responded that Bitcoin is already a successful project with a $1.6 trillion market capitalization and the world’s most valuable digital asset. He said “digital capital” is the killer app, that preserving wealth across generations is a larger goal than entertaining guests at a dinner party, and added that “the orange tie stays on.”
Key data
MicroStrategy rises 48% over the past month
Cointelegraph reported that MicroStrategy, trading under MSTR, was the best-performing component in the Nasdaq-100 over the past month, with its stock up 48%.
North Korea-linked hackers steal about $10.7 million through fake job offers
Forbes reported that the FBI, Japan’s National Police Agency and other agencies issued a joint warning about WaterPlum, also known as Contagious Interview, a North Korea-linked hacking group that from December 2025 to July 2026 posed as companies in AI, crypto and NFT to offer fake jobs.
The attackers used technical interviews and coding tests as bait to get targets to download malicious files. The campaign infected more than 30,000 devices across more than 100 countries and regions, stole data from more than 7,000 crypto wallets, and sent at least $10.71 million to wallets controlled by the attackers.
Fetch.ai and NuNet hit by the same attacker for about $2 million
According to PeckShieldAlert, the same attacker targeted Fetch.ai and NuNet, causing combined crypto losses of about $2 million.
A total of 8.7 million FET, worth about $1.53 million, was stolen, while 408.5 million NTX, worth about $462,730, was illicitly minted. NuNet’s NTX token has fallen about 65%. The attacker has already swapped the stolen funds into 546.36 ETH, worth about $1.44 million.
Garrett Jin holds $320 million in spot ZEC, with a $60 million short seen as a partial hedge
Mlm monitoring data showed that on Dec. 24 last year, Garrett Jin withdrew 68,080 ZEC from Binance, then worth $29.7 million. Minutes earlier, the same wallet had withdrawn another 134,000 ZEC worth $58.6 million. He later shielded and then unshielded the full 202,080 ZEC and still holds the entire amount.
At $1,580 per ZEC, the position is now worth about $320 million, versus $88.3 million at the time. His 38,000 ZEC short on Hyperliquid, worth $60 million, currently shows an unrealized loss of $34.5 million and is viewed as a partial hedge against the spot holdings.
Machi Big Brother increases positions to $131 million
Lookonchain said that as the market rose, Machi Big Brother increased his positions to $131 million. He is currently long 32,600 ETH worth $85.73 million, 495 BTC worth $40.26 million and 55,500 HYPE worth $5.06 million.
The liquidation prices are $2,517 for ETH, $73,501 for BTC and $18.7 for HYPE.
Trader’s month-old ZEC long shows $9.98 million in unrealized profit
Onchain Lens said a trader opened a long position in 9,810 ZEC about a month ago at $517.68 and is now sitting on an unrealized profit of $9.98 million.
The same trader also holds a short position in 3,550 ETH that is showing an unrealized loss of $2.6 million.
Arthur Hayes up $3.28 million on 25.33 million ENA bought a month ago
Lookonchain said Arthur Hayes is bullish on ENA to $0.5. About a month ago, he bought 25.33 million ENA at an average price of $0.09, for a total value of about $5.53 million. The position is now up $3.28 million, a gain of about 146%.
B2 jumps 120%, then market maker sends $10.44 million to Binance Alpha
On-chain analyst Ember said B2 rose 120% this afternoon from $0.41 to $0.9. Half an hour ago, its active market maker transferred 13 million B2 worth $10.44 million to Binance Alpha through multiple wallets.
Those tokens were withdrawn from Bitget and Gate one month ago when B2 was priced at $0.47, leaving a paper profit of $4.27 million. One of the receiving wallets is linked to an address previously associated with trading in SIREN. Ember said the market maker may be the same one involved in SIREN, AKE, XPIN and BTR.