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NEAR Co-founder: Decentralization does not mean disorganization, the crypto industry should proactively curb criminal activities

53 minutes ago

NEAR Protocol co-founder Illia Polosukhin published an article stating that the crypto industry faces a choice: either mature further, or risk being marginalized amid the absence of targeted regulation. He emphasized that the claim that decentralized systems cannot take action is untrue, noting that "decentralization does not equal unorganized." Polosukhin pointed out that while banks use AI to identify fraud, their systems are highly centralized and rely on KYC, which fails to address core issues. The crypto industry, with its richer data and talent pool, can build systems that operate without KYC while effectively curbing criminal activities and protecting the freedoms of legitimate users. He added that through industry collaboration, criminal activity in the crypto sector can be gradually rooted out; the market size of such criminal activity is far smaller than that of overall on-chain economic activity.

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A wallet address that opened a QNT position seven years ago has realized profits again after a three-year gap, with a cost basis as low as $22.57.

According to on-chain analyst Ai Yi (handle @ai_9684xtpa), an address that built a QNT position seven years ago realized a profit after three years of holding. The 0x94e-starting address withdrew 53,632.95 QNT tokens (valued at $1.21 million) from major crypto exchanges between May 2019 and November 2022. An hour ago, it deposited 9,000 of these QNT tokens into Coinbase and Kraken, worth $1.998 million. The deposit price stood at $222.09, while the address’s average cost basis was as low as $22.57, translating to an 884% return on investment.

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Cross-chain transaction protocol Relay suffered a sandwich attack due to an API vulnerability, and will compensate approximately $312,000.

Cross-chain transaction protocol Relay has disclosed that its API exposed pending transaction information, enabling MEV searchers to front-run and sandwich user orders. The incident occurred between September 12 and 26, with activity concentrated from September 23 to 26. Approximately 5,600 users were affected, suffering a median loss of around $11.88, while searchers collectively profited roughly $136,000. Relay has awarded a $50,000 bug bounty to @Outputlayer, the entity that discovered and reported the vulnerability. The protocol will also automatically compensate affected user wallets a total of approximately $312,000, with no separate application required. Relay noted that it will continue to enhance execution quality and privacy protection across its transaction paths.

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ZEC Plunges 12% But Has Not Yet Triggered Whale Liquidations; Over $20 Million in Long Positions Remain Roughly $20 Away From Liquidation.

According to TradingBeats' monitoring, ZEC is currently trading at $1,388.4, down approximately 12.1% in 24 hours, with a low of $1,379. Although the decline has exceeded 10%, large nearby long positions have not been liquidated by this pullback. Among million-dollar-level holdings, only one long position of around $1 million has been liquidated by the market so far. The nearest long liquidation line remains at $1,359.45, about 2.1% below the current price. Corresponding to this, approximately $17.455 million in long positions are still held, with an average entry price of $1,558.41, resulting in an unrealized loss of about $2.137 million (0xcbab…). Further down, there is an estimated liquidation line for approximately $2.631 million in long positions at $1,357.59. The two large positions, totaling around $20.086 million, have concentrated risk near the $1,358–$1,359 level.

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Bitcoin has pulled back, triggering sharp declines in altcoins. Q dropped over 23%, while ONDO and NEAR each fell more than 13%.

According to HTX market data, as Bitcoin pulled back below $83,000, altcoins saw sharp declines. Specifics include: Q trades at $0.022159, down 23.07% in 24 hours; INX at $0.0057, down 21.52%; QNT at $207.12, down 20.39%; FARTCOIN at $0.1623, down 15.60%; USELESS at $0.22742, down 14.86%; SEI at $0.07364, down 13.90%; RAY at $1.8417, down 13.83%; ONDO at $0.4964, down 13.72%; ARB at $0.19367, down 13.33%; and NEAR at $4.604, down 13.07% over the same period.

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Anthropic rolls out Sonnet 5.5 update: No price cut, but fewer tokens are required for the same tasks.

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Pons is set to launch a social trading feature comparable to FOMO.

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