Loopscale Reveals Details of Its Merger with Orca: No New Tokens Will Be Issued, ORCA Will Remain the Sole Token of the New Brand, and Points Will Continue to Accrue

According to monitoring by Defimon Alerts, BNB Chain’s 79thVault suffered an estimated $12.5 million loss due to a private key leak. The team’s operational hot wallet typically only makes small transfers to the reward pool. However, recently, this address withdrew 2.01 million 79AU tokens from the trading pair in 7 separate transactions to external addresses, with amounts of 10,000, 100,000, 100,000, 300,000, 500,000, 500,000 and 500,000 tokens respectively. The attacker converted these tokens back to the same trading pair via roughly 95 swaps, draining the pool’s USDT reserves from $15.2 million to $3.9 million and cashing out 16,249 BNB (worth approximately $12.5 million). Additionally, the operational key transferred 3.79 BNB to the same external address, while another 500,000 79AU tokens were sent to other addresses.

CryptoQuant analyst Crypto Dan stated in a post that the overall trend of the crypto market can be gauged by tracking shifts in the proportion of loss-making supply and profitable supply. In previous bear cycle bottoms, these two metrics would gradually converge; as the market transitions to a bull cycle, they would once again diverge. Dan notes this pattern holds true for the current market as well. He added that during past cycle lows, Bitcoin prices typically fell below the Realized Price, though this correction saw a relatively shallow decline with no such breach occurring. Based on current overall market performance, the crypto market is in the process of shifting to a bull cycle, and this transition is nearly complete.

Solana Foundation Technical Vice President Jacob Creech stated in a social media post that even if the quantum timeline advances or AI-driven "classical attacks" emerge, Solana users do not need to enter "bunker mode" unlike users of other networks. Creech explained that Solana uses Ed25519, with each signing key derived from a secret seed hash. Whether quantum or classical attacks crack the curve, only the derived key would be exposed—not the seed, which never appears on-chain.

Kishu Inu founder Alexander Sisemore is facing three wire fraud charges, with prosecutors alleging his involvement in a roughly $9 million rug pull scam. The U.S. Department of Justice released the indictment on October 7. Prosecutors claim that when the Kishu Inu project launched, Sisemore and co-conspirators secretly allocated tokens to themselves, made false statements to investors to prop up the project’s liquidity and inflate the token’s price, while covertly selling their own token holdings. Prosecutors allege Sisemore reaped approximately $9 million in personal profit from the scheme. He is charged with three counts of wire fraud, each carrying a maximum penalty of 20 years in prison. The FBI Chicago Field Office is now seeking Kishu Inu investors and relevant case leads. It is important to note that all the above are prosecutorial allegations; the indictment does not constitute a guilty verdict, and Sisemore is legally presumed innocent until proven guilty.

Beating AI News, SpaceXAI has updated the X search and monitoring capabilities of its AI assistant Grok Bot. All Grok Bot users can now have the bot collect posts and track topics without linking an X account or configuring a connector. Use cases include monitoring user reviews of a specific product, tracking breaking news, or compiling industry updates on a regular basis. Grok Bot was integrated with X as early as August, but prior to this update, users had to link an account to query posts via X’s API. Now, the bot can directly search and read X using its built-in tools. Combined with its existing scheduled task feature, it can also regularly check for new posts, organize the results, and send them back to the conversation. Grok Bot developers disclosed that querying X previously incurred fees, but read-only queries are now free, though rate limits still apply. Non-read-only operations, such as posting, still require configuring an X connector. The official has not yet announced the specific free query limits.

According to Reuters, Greece is preparing to introduce legislation imposing a 10% tax on cryptocurrency capital gains. The relevant draft bill was released Thursday evening local time and has entered the public consultation phase. The bill is expected to be submitted to parliament for review in November. Under the draft, personal annual cryptocurrency capital gains of up to €500 (approximately $559.95) will be exempt from the new tax. Greece currently lacks a comprehensive tax legal framework for cryptocurrencies, and EU member states have no unified crypto taxation system. European countries currently vary significantly in their crypto taxation methods and rates, with capital gains taxes ranging from 8% to 30%—typically levied on gains from the sale of crypto assets. Greek officials noted that it is difficult to accurately estimate the size of the country’s cryptocurrency market, as the vast majority of investors use overseas platforms. The government has also not provided specific forecasts on the fiscal revenue the new tax will generate.