Greek police arrest 17 in crypto fraud scheme exceeding $8M

Greek police have arrested 17 people in an alleged cryptocurrency investment scheme that authorities estimate collected more than $8 million from at least 10,000 participants.  Hellenic Police said in an Oct. 2 statement that investigators in Katerini uncovered a suspected pyramid operation using company structures and an online platform to present cryptocurrency investments as legitimate.  Greek crypto fraud suspects allegedly used recruitment bonuses  ERT News reported that nine of the arrested suspects were military personnel, including two noncommissioned officers allegedly holding leadership roles.  Citing information obtained by reporter Giorgos Gerafentis, the broadcaster said members received bonuses for bringing new participants into the platform. Its account described a hierarchy in which alleged leaders controlled the operation while recruits helped attract further investment.  According to ERTs reporting, the operators initially gave participants the impression that their investments could generate profits, before failing to return the money they had deposited.  The broadcaster placed the suspected networks offices in Katerini, Thessaloniki, Larissa, Patras and an island in the Dodecanese. ERT also reported that the case file included nine additional Greek suspects, among them another member of the armed forces.  In the police account, the operation had been active since at least 2025 and offered guaranteed high returns with little or no

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Shiba Inu Developer Breaks Months-Long Silence Amid Shibarium Speculation

Amid Shibarium speculation, Shiba Inu developer Kaal Dhairya has broken months of relative silence on X with a brief reply: “Yours truly.”  Before now Dhairya last posted on X on July 25, when he reacted to Shiba Inus price rise, maintaining months of silence, similar to Shiba Inu lead ambassador Shytoshi Kusama, who last posted or interacted on X on May 13.  The Shiba Inu developers response comes after an X user raised an interesting question about the cost of maintaining a Layer 2 network.  Citing Ethereum Layer 2 network Blasts decision to wind down operations, X user Ed Salomons asked who is paying for the hardening, updates, and ongoing maintenance of Shibarium. Dhairya replied, “Yours truly.”  Ethereum Layer 2 chain Blast announced that it would wind down its network because operating costs exceeded revenue and the project saw no credible path to economic sustainability. Blast users have been given until Oct. 26 to withdraw assets through its interface.  This development raised concerns about Shibarium being an Ethereum Layer 2 itself. Dhairyas response shows that Shibarium isnt abandoned, but it doesnt provide details on the amount being spent, the specific entities involved, or the long-term funding structure supporting the network.  Shibarium abandoned?  Shibarium continues to receive infrastructure

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SEC proposes crypto custody framework for investment advisers and funds

The U.S. Securities and Exchange Commission has proposed an Oct. 1 crypto custody framework under two federal investment laws, allowing conditional self-custody and state trust company custody for investment advisers and regulated funds.  SummaryThe proposal covers registered investment advisers, registered investment companies and business development companies.Advisers could hold crypto themselves when no permitted custodian is available, subject to conditions.State trust companies would face checks on their authority and safeguards before serving as custodians.Public comments will remain open for 60 days after publication in the Federal Register.  SEC Chairman Paul Atkins said in the statement shared in his Oct. 3 X post that the proposal addresses uncertainty over how advisers and funds can legally hold crypto assets for clients. The SEC published the same statement on Oct. 1, alongside its proposed rules.  According to the commissions announcement, the framework would remove custody barriers that restrict crypto-related investment advice. The agency said it would also let regulated funds offer more crypto investment strategies, identifying registered investment companies and business development companies among the funds covered.  SEC crypto custody proposal would permit conditional self-custody  Under the SECs proposal, advisers could hold client and fund crypto assets themselves in limited circumstances. Commissioner Hester Peirce explained that an adviser must

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Bullish: Bitcoin Exchange Reserve Drops to 2023 Lows

After Bitcoin witnessed a brief price recovery recently, reclaiming its previous high around $87,000, the sharp price rally has driven demand for the asset.  As such, Bitcoin has seen traders increasingly scoop up its tokens from exchanges as demand appears to have spiked, causing its reserve across all exchanges to drop sharply.  2.68 million Bitcoin left to buy  Per recent data from crypto analytics platform CryptoQuant, Bitcoin exchange reserves have suddenly dropped to a fresh multi-year low after its price rebounded briefly a few days ago.  Following this sharp drop in the metric, there are now about 2.68 million BTC held across exchanges as of Saturday, October 3.  Although decreases in exchange reserves are often perceived as a potential sign of accumulation or long-term holding, analysts have also warned that the case this time may not entirely confirm a bullish outlook for Bitcoin, as increases in outflows from major exchanges like Binance could be attributed to several other factors.  Bitcoin supply is shrinking  Additional data provided by the source shows that Bitcoin exchange reserves have been trending lower across several Bitcoin market cycles.  The last time Bitcoin reserves peaked was in early 2024, when they reached a high of around 3.2 million BTC, at a time when Bitcoin

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Crypto gainers and losers: Quant jumps 158%, Lighter sinks

Bitcoin traded near $84,600 on Oct. 3 as Quant and Midnight led the weeks top crypto gainers, rising 158.3% and 96.5%, respectively. Lighter fell 28.7%, while MemeCore, Ethena and Zcash posted double-digit losses.  CoinGeckos seven-day top-100 rankings for Oct. 3 placed Bitway and Pump.fun behind Quant and Midnight among the leading gainers. Its separate Bitcoin data showed BTC up about 0.6% over seven days, against a 0.3% decline across the broader crypto market.AssetPriceSeven-day changeQuant (QNT)$261.42+158.3%Midnight (NIGHT)$0.04988+96.5%Bitway (BTW)$1.44+66.7%Pump.fun (PUMP)$0.005462+19.5%Lighter (LIT)$3.49−28.7%MemeCore (M)$1.03−16.7%Ethena (ENA)$0.232−14.7%Zcash (ZEC)$1,313.37−14.4%  Prices and weekly changes: CoinGecko, Oct. 3.Quant leads crypto gainers after U.S. payments deal  Quant‘s rally followed The Clearing House’s Sep. 24 announcement that it had selected the company to power its On-Chain Money Initiative, a network for clearing and settling tokenized commercial-bank deposits.  The payments operator said the network would connect with existing U.S. infrastructure, including RTP and CHIPS. Availability for participating financial institutions is expected in the first half of 2027.  Gold analyst Jan Nieuwenhuijs posted on X on Sep. 26 that buying one QNT carried the risk of losing $120 against the potential to earn $10,000.  His post did not set a date for that outcome. The comment came before the Oct. 3 price of $261.42 and represents a speculative upside

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Arbitrum pauses new Stylus activations over AI-assisted attack risks

Arbitrums Security Council temporarily blocked new Stylus contract activations on Arbitrum One and Nova in an October 2 emergency action, restricting programs and app updates that require fresh activation. Already-active Stylus applications can keep running, while ordinary Solidity contract deployment and execution remain unaffected, according to the Councils action report.  Related Asset Ethereum #2 ETH · $2,681.24 24-hour change: down 0.44% Loading price history… 24H Down 0.44% 7D Down 0.39% 30D Up 6.79%  Arbitrum attributed the precaution to increasingly sophisticated AI-assisted attacks involving hand-crafted WebAssembly programs outside the standard Stylus compiler toolchain. It said known Stylus bugs primarily threaten chain liveness, including denial-of-service risks, and that no attack permitting theft of user funds had been discovered.  The linked Ethereum, Arbitrum One and Nova transaction records show successful execution on October 2, around 15:30 to 15:31 UTC.  For builders, the distinction is between storing code and making it usable. Stylus contracts run WebAssembly programs, which need activation to become executable. Arbitrums documentation distinguishes that step from deployment, which stores code onchain. New contract instances using identical program code can reuse an existing activation, provided it is still valid.  A new application version requiring fresh activation cannot become executable during the pause. Reactivating an expired program, or

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Hackers use Microsofts X account to push unofficial Clippy token

Hackers have used Microsofts official X account to promote an unauthorized Clippy-themed token, with the promotional activity removed roughly 30 minutes later, according to The Verge.  SummaryMicrosoft confirmed unauthorized access and said it had secured its account and removed the posts.A deleted statement rejected any connection between the Clippy token and ownership of Microsoft shares.Token promoters claimed liquidity exceeded $200,000 and alleged share backing, without verified evidence.Previous account breaches targeted Robinhood CEO Vlad Tenev and accounts associated with SpaceX and Starlink.  The Verge reported that Microsoft confirmed the breach after its account promoted an unofficial cryptocurrency associated with Clippy, the paperclip assistant from earlier versions of Microsoft Office.  In its response to the publication, Microsoft said the account had been secured and the unauthorized posts removed. The company also said it was investigating how the access occurred.  “We have confirmed unauthorized access to our account on X, including posts that did not come from Microsoft.”  According to the report, a separate statement briefly appeared on Microsoft‘s account after the promotional activity ended. The message rejected the token’s use of Microsoft branding and said the company would pursue legal action to remove the token and related marketing.  You might also like:  Bitget hacker moves $6.3 million into Bitcoin

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NEAR co-founder pitches AI pets, private trading and cross-chain payments

NEAR co-founder Illia Polosukhin has outlined 13 application ideas spanning AI pets, private trading, and cross-chain payments, alongside five suggestions for helping developers reach users.  Illia Polosukhin, in an Oct. 3 X post, said new and returning developers had been building on NEAR over the preceding couple of weeks, while development itself had become easier.  With fewer obstacles to building, he framed product selection and distribution as the questions developers now need to address.  “Building itself got easier too, so its really about what to build and how stand out to get distribution.”  NEAR payment ideas connect checkout and event deposits  For merchants and application developers, Polosukhin proposed a universal checkout widget that would let customers pay through NEAR Intents using the wallet and blockchain they already hold assets on.  Under his suggested approach, developers would offer the button directly to merchants and seek to bring it into Shopify. His post presented Shopify as a potential distribution target for the proposed widget.  For event organizers, he suggested a registration system that would hold attendees deposits in escrow until the host checks them in. Participants who attend would then divide the contributed funds, according to his outline.  Drawing on an earlier project called Kickback, he proposed extending the model

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XRP ETF Investors Are Now $133M Under Water on Their Bets

Spot XRP exchange-traded funds (ETFs) logged a $3.28 million net outflow on Oct. 2, all from Bitwise, while their combined assets dropped about $37 million.  Key TakeawaysBitwises XRP fund was the only mover on Oct. 2, shedding $3.28 million while rivals sat flat.XRP ETF net assets slid to $1.66 billion, about $133 million below $1.791 billion in lifetime inflows.XRP fell as low as $1.44 before recovering while BTC dropped from $87,220 to around $84,500.  The Breakdown  According to Sosovalue data, U.S. spot XRP ETFs ended Oct. 2 with total net assets of $1.658 billion. One session earlier, on Oct. 1, that figure was $1.695 billion, so roughly $37 million disappeared from the scoreboard while only $3.28 million actually walked out.  The rest came from the token itself, as XRP traded as high as $1.55 on Oct. 2 before dropping to $1.44 during the late U.S. session. The token is now trading between $1.47 and $1.49.  In terms of who sold, only the Bitwise XRP ETF (trading under the ticker XRP) accounted for the full $3.28 million outflow, and the rest of the field netted zero that day. Bitwise is still the category‘s biggest magnet by cumulative inflows at about $677 million, ahead of Franklin Templeton’s

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Bitcoin reaches for $87K as short liquidations top $120M

Bitcoin (BTC) neared $87,000 on Friday as BTC short liquidations topped $120 million over 24 hours.  Key points:Bitcoin broke through sell orders around $85,000, reaching its highest price since Sept. 23 at $86,857.CoinGlasss heatmap showed a cluster of potential liquidations above $87,000 following the breakout.Glassnode analysis said that more robust Bitcoin ETF inflows would help confirm broader support for the BTC price uptrend.  Bitcoin buyers battle liquidity walls below $87,000  Data from TradingView showed BTC/USD reaching $86,857 on Bitstamp before pulling back below $86,000.  BTC/USD four-hour chart. Source: Cointelegraph/TradingView  The move, which marked Bitcoins highest since Sept. 23, followed fresh fluctuations in exchange order-book liquidity. A concentration of sell orders around $85,000 had kept price action rangebound through the week, but buyers broke through that barrier, per data from onchain analytics platform Glassnode.  “With reduced ask liquidity above, this should allow price to move up faster,” it wrote on X, adding that the remaining sell orders “seem to have been removed.”  BTC/USDT order-book heatmap (Binance). Source: Glassnode  Earlier in the week, Cointelegraph reported that more than $30 million in sell orders had appeared around $85,700. Data from CoinGlass showed a cluster of potential liquidations above $87,300 following the initial breakout, suggesting that liquidation exposure was concentrating at higher

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