Payment Processor Vulnerability Causes Mass NFT Theft; Yuga Labs' White Hat Team Rescues NFTs Worth Over $5.7 Million

French semiconductor company Sequans Communications has sold its remaining 314 Bitcoin (BTC), officially completing its exit from the Bitcoin treasury strategy. Sequans Communications stated that it no longer holds any cryptocurrency, and will focus its business on the Internet of Things and software-defined radio sectors moving forward.

According to TradingBeats monitoring, as ONDO rallied around 25.5% in the past 24 hours, the unrealized profit on the ONDO long position held by Hyperliquid address 0xc63a has hit roughly $2.125 million, and the address has not yet cut its position. The address opened 13.2188 million ONDO long positions over roughly two hours between the evening of August 21 and the early hours of August 22, at an average entry price of approximately $0.3921. The position has remained unadjusted for over a month since then, with its current value standing at around $7.309 million, and ONDO’s price having risen roughly 41% from its entry cost. Earlier, the address traded ETH long positions between August 20 and 22, logging a total realized profit of about $2.51 million. While taking partial profits on ETH, the address established the aforementioned ONDO long positions.

Per TradingBeats’ tracking, the address starting with 0x152e liquidated all its ZEC long positions yesterday, locking in around $2.03 million in profits, before re-establishing a ZEC long position today. The address has purchased a total of 7,882.7 ZEC today, with a transaction value of roughly $12.18 million, at an average entry price of $1,545.26 — about 2.72% higher than its average selling price yesterday. Its current holding volume is also slightly higher than before yesterday’s liquidation. As of press time, the position has not been reduced, worth approximately $12.53 million, with an unrealized profit of around $348,000. Additionally, the address holds roughly 226,000 HYPE long positions, valued at about $21.18 million, with an unrealized profit of approximately $7.366 million.

According to HTX market data, Ethereum has broken through the $2,700 level, with a 1.67% gain in the past 24 hours.

Oil prices fell on Friday as markets weighed the likelihood of a US-Iran ceasefire while also worrying that escalating Houthi attacks on Saudi Arabia could disrupt supplies from the key Middle Eastern oil producer. The market had endured a week of sharp volatility before this. According to sources close to the discussions, US and Iranian negotiators, who held talks in New York this week, have explored a phased path to end the conflict, including Tehran reopening the Strait of Hormuz and Washington lifting economic sanctions on Iran. Iranian President Masoud Pezeshkian said Thursday that when the war ends still depends on the US’s decision. However, Reuters’ vessel traffic data shows that the physical supply situation remains fragile. Only 10 commodity vessels passed through the Strait of Hormuz on Wednesday, up from 7 the day before, but still well below the average of around 17 vessels per day over the past 10 days. Positive news on diplomatic progress could help erode some of the geopolitical premium priced into oil, but shipping data indicates that any meaningful normalization is still a long way off.

Xie Jiayin, head of Bitget’s Chinese-language region, released a statement noting that theft incidents and handling protocols vary across different security events. Bitget will resume withdrawals as soon as all risks are eliminated, and hopes users will grant the platform sufficient time to complete security checks. Xie added that in Bitget’s 8 years of operation, the platform has never misappropriated user assets; its User Protection Fund, established in 2022, has consistently remained above $300 million to guard against black swan events. The platform is not concerned about users withdrawing funds, but rather, out of prudent consideration for market and security risks, it has opted to temporarily suspend the withdrawal function.