Track market-moving stories before they get noisy

Key Takeaways DOGE maintains position around $0.081, where approximately 30 billion tokens have historically traded Long liquidations on Binance are clustered between $0.077 and $0.079, with short liquidations stacked from $0.085 to $0.089 Breaking through the $0.085–$0.089 resistance zone could trigger a rally toward $0.090 Market forecasts show only a 4% probability of DOGE hitting $1 before January 2027 Technical analyst Trader Tardigrade identified a bullish MACD crossover on the bi-weekly timeframe Dogecoin continues to consolidate near the $0.081 mark, a technically significant zone according to blockchain analytics. The popular meme cryptocurrency has declined 27% since the start of the year and remains far below its historic peak of $0.74 reached in May 2021.

Dogecoin (DOGE) Price Data from Ali Charts’ UTXO Realized Price Distribution (URPD) analysis indicates that around 30 billion DOGE tokens have changed ownership at the current $0.081 price point. This concentration establishes it as a crucial cost-basis area for a significant portion of the holder base.

Maintaining support above this threshold keeps the recovery narrative alive. A breakdown beneath $0.081 would shift attention toward the $0.077–$0.079 demand zone.

Leverage Creates Two-Way Volatility Risk Binance’s liquidation heatmap for the DOGE/USD pair reveals substantial leveraged exposure flanking current prices. Clusters of long position liquidations are positioned between $0.077 and $0.079, while short liquidation density builds from $0.085 through $0.089.

This configuration suggests volatility could expand rapidly in either direction. A decline toward the $0.077 area would trigger cascading long liquidations, potentially intensifying downside pressure. Conversely, a breakthrough above the $0.085–$0.089 band would force short covering, likely fueling upward momentum toward $0.090.

The URPD analysis also reveals denser supply accumulation near $0.177, though this level represents a medium-to-long-term resistance rather than an immediate objective.

Technical analyst Trader Tardigrade highlighted on X that Dogecoin’s bi-weekly MACD indicator has registered a bullish crossover — the first such signal after an extended bearish phase. He emphasized that crossovers on this extended timeframe are uncommon, and historically have preceded significant bullish trends.

$DOGE/2-week

❇️ MACD has just printed a Bullish Cross after an extended period of weakness — the first major signal of trend reversal.

This indicator doesn't cross often on the 2-week timeframe. When it does, it typically marks the beginning of sustained upward momentum.

The… pic.twitter.com/PsOeo1z5Im

— Trader Tardigrade 🧬 (@TATrader_Alan) September 2, 2026

Dollar Milestone Remains Highly Unlikely While certain technical indicators offer encouragement, reaching $1 remains an extremely ambitious target. DOGE has never breached $0.74 throughout its existence. Climbing from the current $0.08 level to $1 would demand a price appreciation exceeding 1,150%.

Kalshi prediction markets currently assign only a 4% probability to DOGE reaching $1 by January 2027, rising slightly to 9% by June 2027. For context, Bitcoin faces similar 4% odds of touching $200,000 before year-end.

The launch of a Dogecoin ETF last year and speculation around potential Elon Musk-related integrations have been discussed as possible growth drivers. However, DOGE has yet to demonstrate sustainable momentum toward those elevated price targets.

Dogecoin is currently trading at approximately $0.0818, with immediate focus centered on the $0.085–$0.089 resistance cluster.

Key Takeaways Charles Hoskinson, Cardano’s founder, emphasizes completing critical roadmap objectives and governance structures to catalyze the network’s next expansion cycle. The cryptocurrency has experienced a 40.71% decline year-to-date in 2026 and has dropped from the top 10 digital assets by market capitalization. The Pogun Bitcoin DeFi initiative and RealFi platform have attracted $600 million in preliminary commitments, with projections suggesting billions in future total value locked. Implementing the Leios scalability enhancement and executing its associated hard fork remain paramount objectives for development teams. With a 36th place ranking in TVL and no approved spot ETF product, Cardano faces challenges attracting institutional capital. Charles Hoskinson, the visionary behind Cardano, has urged the community to fulfill outstanding roadmap commitments and governance objectives, stating the platform must “finish what we started” before advancing to subsequent development phases.

These remarks came during discussions surrounding a Constitutional Committee voting mechanism update for the Cardano network.

Hoskinson highlighted advancements throughout the ecosystem, citing the RealFi platform rollout and mounting enthusiasm for Bitcoin DeFi integration. He projected that RealFi could channel billions in total value locked into the ecosystem within the next several years.

According to Hoskinson’s statements, the Pogun Bitcoin DeFi project has already garnered $600 million in preliminary funding commitments.

Critical Objectives for the Network Hoskinson identified multiple essential tasks requiring completion. These encompass finalizing the Leios scalability protocol enhancement and implementing its corresponding hard fork upgrade.

Establishing robust governance frameworks represents another central priority. He advocated for completing “the last mile of governance” while constructing institutional frameworks capable of autonomous operation and continuous refinement.

The Cardano stakeholder community has already endorsed a Constitutional Committee structure ensuring membership remains above five participants, enabling the committee to authorize crucial protocol upgrades including the Leios constitutional amendment.

Despite these progressive developments, ADA has underperformed throughout 2026. The digital asset has declined 40.71% year-to-date and surrendered its position among the top 10 cryptocurrencies by market valuation.

Competitive Challenges Mount for ADA Cardano occupies 36th position in total value locked rankings, an essential DeFi performance indicator. Rival networks like Solana have experienced approximately 18% declines this year — substantially outperforming ADA’s 41% downturn.

The absence of a spot ETF product distinguishes Cardano from Bitcoin, Ethereum, Solana, XRP, and even Dogecoin. This gap restricts accessibility for both retail traders and institutional portfolios.

Market analyst Ali Charts identified a potentially significant inflection point, observing that the Tom DeMark Sequential indicator has generated a fresh buy signal on ADA’s daily timeframe. Historical signals previously initiated rallies of 44.5% on June 25, 11.5% on July 15, and 50.9% on August 18, indicating another upward movement may be developing.

CARDANO: BUY SIGNAL

The Tom DeMark Sequential has just flashed a new buy signal on Cardano's daily chart.

These signals have done an excellent job identifying recent bottoms:

• June 25: +44.5% rally
• July 15: +11.5% rally
• August 18: +50.9% rally

Now the indicator is… pic.twitter.com/dAnEKn1vID

— Ali Charts (@alicharts) September 2, 2026

Hoskinson asserted that the ecosystem remains competitive, stating they are “not out of the game.” Both the Leios upgrade and RealFi platform are scheduled for deployment later this year.

Cardano (ADA) Price ADA is currently trading near $0.20, representing approximately a 94% decline from its all-time peak of nearly $3 achieved in September 2021.

Cardano is becoming more accessible to mainstream users as ChatterPay enables WhatsApp users to send and receive ADA directly through the messaging platform.

According to ChatterPay co-founder Tomás Di Mauro, WhatsApp users can now send ADA and Circle’s USDCx on Cardano to any WhatsApp contact globally. The integration brings Cardano-based payments into one of the world’s most widely used messaging platforms and could expose ADA to WhatsApp’s massive user base. 

Notably, WhatsApp has more than 3 billion monthly active users, giving the integration a potentially significant reach and creating another avenue through which Cardano could reach mainstream audiences.

ChatterPay Brings Cardano Payments to WhatsApp The integration is powered by ChatterPay, a user-friendly, non-custodial WhatsApp wallet backed by Orion Fund. The wallet aims to simplify blockchain transactions for users without technical knowledge or extensive cryptocurrency experience.

Through ChatterPay, users can send ADA or USDCx directly to their WhatsApp contacts. The service aims to remove the complexity traditionally associated with creating and using blockchain wallets, making Cardano payments easier for everyday users.

How ChatterPay Works on WhatsApp ChatterPay also simplifies the process of creating a Cardano wallet. Users can begin directly through the ChatterPay Bot on WhatsApp by sending a message such as, “Hi! I want to create an account.”

Users can then enter a referral code if they have one or continue without one. The bot subsequently creates a Cardano wallet that users can use to receive funds.

Once the wallet is set up, users can manage several functions through the bot, including sending ADA, purchasing crypto, and checking their balance. 

Sending ADA to WhatsApp Contacts The process is designed to be straightforward. Users can open WhatsApp, select a contact, enter the amount they want to send, and choose ADA or USDCx.

ChatterPay then requests confirmation before processing the transaction. In addition, users can send funds to Cardano users outside WhatsApp by entering their Cardano wallet address. They can also attach customized messages to their transfers.

This approach could make blockchain payments feel more similar to sending a regular message on WhatsApp, potentially lowering the barrier to entry for people unfamiliar with traditional crypto wallets.

Beyond Cardano, ChatterPay supports other major blockchain networks, including Bitcoin, Solana, and Ethereum. Consequently, the WhatsApp wallet is positioning itself as a broader gateway for digital-asset transactions rather than a Cardano-only payment solution.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

BeInCrypto is officially partnering with the Government Blockchain Association (GBA) for their flagship summit, The Future of Money, Governance, and the Law (FoMGL) taking place September 29 to October 2, 2026  across Washington, D.C.and New York. 

The partnership will mark the launch of BeInCrypto’s Legal & Regulatory Expert Council, with the council making its public debut during the event’s New York programme at the United Nations Headquarters (pending final room confirmation).  

Intersection of Policy, Capital and Technology
The three-day GBA programme will move from Capitol Hill discussions with U.S. policymakers to a full-day summit at the National Press Club focusing on the impact of AI, blockchain and quantum on financial services, including digital assets, tokenization, and regulatory frameworks.That evening features cryptopoly, gala reception in a historic georgian mansion where the guests receive movie money and cryptocurrency themed cards to buy, trade and sell to win generous crypto themed prizes. The event is followed by the Future of Money, Governance & the Law FinTech Summit in New York. 

Confirmed speakers include Dino Cataldo Dell’Accio (UN Joint Staff Pension Fund), Jarod Koopman (U.S. Treasury / IRS), Landon Zinda (SEC Crypto Task Force), Thomas Puschnik (World Bank), Lauren Belive (Ripple), Corey Then (Circle), Robin Cook (Coinbase), Dr. Scott Stornetta (blockchain co-inventor), Charles Hoskinson (Cardano),  Markus Veith (Grant Thornton), and Christopher Bramwell (Utah State Government) amongst many others.

The GBA has members in over 500 government offices around the world in over 50 working groups that has established the Blockchain Maturity Model (BMM), a framework for assessing the maturity, integrity and trustworthiness of blockchain solutions, and showcased by the Blockchain Assurance & Standardization Dynamic Coalition recognized by the United Nations Internet Governance Forum (IGF). The IGF is convened by the UN Secretary-General as a global forum for dialogue on internet governance. The GBA connects public-sector requirements with private-sector expertise across a range of blockchain and emerging-technology issues.

Legal & Regulatory Council Launch
The BeInCrypto Legal & Regulatory Expert Council unites senior practitioners working across crypto and digital-asset regulation, compliance, tax, financial data, AML and sanctions, and institutional adoption. 

Its focus is on the issues around how digital asset businesses operate across markets, including the right jurisdiction, navigating new regulatory frameworks and understanding the implications of tax, market structure, privacy and cross-border compliance.

The council will bring these perspectives to the global policy conversation at FoMGL, where BeInCrypto’s Global Head of News, Brian McGleenon, will moderate a panel on the state of global crypto regulation. Panel details and council members joining him on stage will be announced ahead of the event.

Both legs of the summit are open to the BeInCrypto community. The New York programme at the United Nations Headquarters (pending final room confirmation) is free to attend. For Washington, D.C., readers can use the code BEINCRYPTO20 at checkout for 20% off tickets. You can secure your spot here.

BeInCrypto is part of the BeInNews Academy Ltd, an independent media group covering the convergence of finance and digital assets. We help professionals act with confidence in a complex and fast-changing industry through our newsroom, Expert Councils, Research Division, the Institutional 100 Awards, and event activations. 

A High-Stakes FreezeRipple CTO emeritus David Schwartz (@JoelKatz) has publicly backed Tether after the stablecoin issuer was sued over the pre-warrant freezing of $42.4 million in $USDT. The case, filed in the U.S. District Court for the Southern District of New York, was brought by two Thai businessmen, Nutthawat Rukthammachalern and Natthawat Kasamvilas, who allege Tether unlawfully blocked access to their funds.

The plaintiffs allege that Tether blacklisted 10 Ethereum addresses containing 42,417,785.62 USDT on October 30, 2025, following an informal request from U.S. Homeland Security Investigations (HSI). According to the businessmen, Tether took the action without a warrant, court order, or notice to them. An official court order authorizing the seizure was issued only four months later, on February 19, 2026.

Schwartz argued that Tether's response was appropriate given the contested ownership of the assets. "Tether is doing exactly what they're supposed to do when you know you owe money to someone but have a good faith belief you can't be sure who you owe the money to," he wrote. "You hold it safely until a court with jurisdiction over the asset decides."

Fraud Links and a Broader Seizure The funds appear tied to a wider Justice Department investigation involving more than $61 million in USDT that prosecutors said was stolen through so-called pig-butchering scams, in which fake romantic or social relationships are used to extract victims' funds before the proceeds are laundered. On February 19, 2026, a court in the Eastern District of North Carolina issued a warrant directing Tether to burn the frozen USDT and remint the tokens to a government wallet. Five days later, authorities announced a $61 million USDT seizure traced to addresses allegedly linked to laundering proceeds from pig-butchering victims.

The lawsuit does not dispute the government's claim that the funds are connected to scam proceeds. Instead, the plaintiffs have challenged Tether's authority to freeze, burn, and reissue USDT that they say was purchased on the secondary market. They maintain that they acted in good faith and are demanding that the assets be unfrozen, along with compensation for lost profits, including interest income Tether earned from managing the reserves backing those funds.

The outcome of the lawsuit could set a precedent for how far stablecoin issuers may go in acting upon informal government requests before the formal judicial process is completed. The case spotlights the operational dilemma stablecoin issuers face: balancing the threat of civil lawsuits for freezing assets without court approval against potential criminal liabilities from delayed compliance with regulatory warnings. Neither the businessmen's ownership claims nor the government's allegations concerning the disputed USDT have been decided by a court.

Sources:
CoinDesk: Tether Sued Over $42.4 Million USDT Freeze Allegedly Made Months Before U.S. Warrant
CoinTelegraph: Thai Businessmen Sue Tether for Freezing $42M in $61M Pig Butchering Case
U.Today: Ripple's David Schwartz Defends Tether's $42 Million Pig-Butchering Freeze in Landmark Suit

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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Crypto KOL Unipcs took to X to announce, “You’re not ready for the BNB boom—just as I predicted the Robinhood boom weeks ago, the BNB boom is coming.” Notably, Binance co-founder Yi He followed Unipcs on X earlier this morning.

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USDT0, the infrastructure that brings the most widely used stablecoin Tether (USDT) to every network, is now live on Stellar, the world’s most accessible network. This deployment connects one of the longest-running networks for real-world payments and cross-border finance directly into USDT0’s growing borderless liquidity. As a result, Stellar now has access to a unified dollar asset, enabling stablecoin movement across networks without fragmentation, wrappers, or third-party bridges.

“Stellar has already proven its value as payments infrastructure,” said Lorenzo Romagnoli, Co-Founder of USDT0. “USDT0 extends that utility by connecting Stellar to Tether’s global dollar liquidity and making it available wherever users and capital need to move. That opens up a much bigger future for builders on Stellar: payment firms, fintechs, and treasury teams can serve global markets without rebuilding dollar liquidity network by network. Stellar becomes a stronger base for financial products designed to serve many different use cases and ecosystems.”

Since launching in January 2025, the USDT0 Network has facilitated over $100 billion in total value moved across 29 connected blockchain ecosystems, reflecting sustained, production-scale usage of its unified liquidity model. Against that backdrop, Stellar was designed to move real value across borders. The network prioritizes predictable settlement, minimal fees, and support for issued assets, characteristics that have translated into years of real-world activity across payments, aid distribution, and consumer financial services.

“Stellar has been trusted to power cross-border payments for more than a decade and the addition of USDT0 to the Stellar ecosystem strengthens the network's industry-leading payments stack,” said Denelle Dixon, CEO & Executive Director of the Stellar Development Foundation. “Together, the Stellar network and USDT0 are leading the way toward a global financial system where trillions will move onchain.”

Built on LayerZero’s OFT Standard, USDT0 does not introduce another bridged or wrapped representation. Instead, the deployment anchors USDT0 directly within Stellar’s asset model while connecting it to the same unified liquidity framework used across other major ecosystems. USDT0 on Stellar is now available on BiLira Kripto, Bitget Wallet, Fireblocks, Freighter, Kraken, Kredete, Lobstr, Meru, Ramp Network, and SushiSwap, with additional partners such as Exodus expected to go live shortly.

For the Stellar ecosystem, this means:

Unified liquidity: Access to the same global USDT liquidity layer shared across multiple chains.Seamless cross-chain movement: Stablecoin balances can move into and out of Stellar without custodial bridges or isolated pools.Simpler integrations for builders: Payment flows, DeFi applications, and treasury systems can be built around a single, consistent USDT asset.In addition to introducing the world’s most widely used stablecoin to Stellar, USDT0 advances how liquidity behaves across the ecosystem, making cross-chain movement a feature aligned with the network’s focus on interoperability and practical onchain finance.

For more than a decade, Stellar has demonstrated that blockchains can support real financial activity at global scale, processing more than $40B so far in 2026. The integration connects Stellar’s purpose-built design with the next phase of stablecoin infrastructure, combining unified liquidity with proven execution to support what stablecoins are becoming.

Learn more about USDT0 and get started at usdt0.to/transfer or follow USDT0 on Twitter @USDT0.

About USDT0

USDT0 is the infrastructure that brings Tether's dollar and gold assets to every network, giving builders and institutions on every chain access to Tether's stablecoin and gold liquidity. From seamless transactions and settlement to collateral, treasury, and programmable rails for AI and autonomous systems, USDT0 advances Tether as the default asset issuer for the future of finance. Supported assets include USDT, Tether's dollar-backed stablecoin, and XAUT0, which brings Tether Gold to every network backed 1:1 by physical gold held in Swiss vaults.

About Everdawn Labs

Everdawn Labs is a premier software development consultancy, specializing in crafting bespoke software solutions that drive innovation, efficiency, and growth in the digital asset ecosystem. 

About LayerZero

LayerZero is where finance and the internet converge. It makes any token or application compatible with every type of blockchain. From protocols to institutions, organizations use LayerZero to build, issue, and scale digital assets and products. It connects 170+ blockchains, processes millions of messages a year, and powers billions in value transfer. Trusted by PayPal USD, Ethena, the State of Wyoming, BitGo, and more, LayerZero has become the standard for building on blockchains.

The Stellar Network 

The Stellar network is a decentralized, fast, scalable, and uniquely sustainable blockchain built for financial products and services. It offers builders smart contracts functionality and a protocol optimized for payments, with a design intended to keep fees low and to provide transaction speeds that can scale with increased adoption. Financial institutions and innovators worldwide issue assets and settle payments on the Stellar network, which has processed billions of operations with millions of accounts since the network was first launched. 

[email protected]

DISCLAIMER

This press release is for informational purposes only and does not constitute an offer, solicitation, or recommendation of any security, token, digital asset, or financial product, nor does it constitute investment, legal, tax, or financial advice.

This press release contains forward-looking statements based on current expectations and assumptions, including statements regarding anticipated availability, functionality, adoption, and transaction volumes. Actual results may differ materially due to risks, uncertainties, and changing circumstances. No party named herein undertakes any obligation to update such statements.

USDT0 and USDT are issued and managed by third parties. The Stellar Development Foundation does not issue, custody, redeem, or guarantee any digital asset referenced herein and makes no representation regarding reserves, backing, solvency, regulatory status, or continued availability of any such asset. All figures relating to market capitalization, transaction volume, and value transferred are sourced from third parties, have not been independently verified, and are subject to change.

The regulatory status of stablecoins and digital assets varies by jurisdiction and is subject to change. Users are responsible for determining compliance with applicable laws. Availability of USDT0 through any referenced exchange or wallet is subject to that platform’s terms, eligibility requirements, and regulatory approvals.

The Stellar Development Foundation provides open-source software and does not control the Stellar network, which is operated by independent, decentralized validators.

Key Highlights Ciena shares surged 7% in premarket sessions to $379.85 following better-than-expected Q3 results. The company reported adjusted EPS of $2.11, marking a 215% year-over-year increase and surpassing the $1.73 consensus estimate. Quarterly revenue climbed 37% to $1.67 billion, exceeding the $1.64 billion analyst forecast. Full-year fiscal 2026 revenue guidance was increased to $6.42 billion, representing 35% growth year-over-year at the midpoint. The company issued Q4 revenue guidance of $1.75 billion, plus or minus $50 million, beating expectations at the midpoint. Shares of Ciena (CIEN) experienced a significant premarket rally on Thursday, climbing 7% to $379.85 after the networking equipment manufacturer delivered impressive fiscal third-quarter results powered by AI-related infrastructure demand.

Ciena Corporation, CIEN

The company’s adjusted earnings per share reached $2.11, representing a remarkable 215% surge compared to the 67 cents posted during the same period last year. This performance significantly exceeded the Street’s consensus forecast of $1.73.

For the quarter that concluded on August 1, revenue totaled $1.67 billion, marking a 37% year-over-year increase. This figure surpassed analyst projections of $1.64 billion, according to FactSet data.

CIENA $CIEN Q3’26 EARNINGS HIGHLIGHTS

🔹 Revenue: $1.67B (Est. $1.63B) 🟢; +37% YoY
🔹 Adj. EPS: $2.11 (Est. $1.73) 🟢; +215% YoY
🔹 Adj. Oper Income: $375.7M (Est. $323M) 🟢
🔹 Adj. EBITDA: $411.1M (Est. $361M) 🟢

Raises FY26 Guide:
🔹 Revenue: $6.42B +/- $50M (Est. $6.34B) 🟢… pic.twitter.com/gwlEqECqGJ

— Wall St Engine (@wallstengine) September 3, 2026

On a GAAP basis, earnings per share stood at $1.83. The company’s non-GAAP EBITDA reached $411.1 million, reflecting a 160% increase versus the year-ago quarter.

The Optical Networking division, which serves as Ciena’s primary business unit, generated $1.19 billion in revenue, up from $815.5 million in the prior-year period. This segment contributed more than 71% of total quarterly revenue.

Company Lifts Full-Year Outlook Ciena increased its fiscal 2026 full-year revenue projection to $6.42 billion, plus or minus $50 million. At the midpoint, this guidance reflects a 35% year-over-year improvement.

Looking ahead to the fourth quarter, management expects revenue of $1.75 billion, plus or minus $50 million. The company anticipates adjusted gross margin around 45%, with adjusted operating margin projected near 20%.

CEO Gary Smith attributed the robust performance to artificial intelligence demand. “AI continues to drive compounding waves of network investment,” Smith stated, highlighting Ciena’s position as the “only pure-play optical systems and interconnects provider.”

The company disclosed that two clients represented 41.7% of total quarterly revenue. During the quarter, Ciena repurchased approximately 0.4 million shares for $171.7 million under its $1 billion buyback authorization.

Recent Stock Trajectory While the quarter proved strong, CIEN shares have experienced volatility in recent months. The stock had posted a 51% gain year-to-date through Wednesday’s market close, yet remains 43% below its June 2 peak.

Shares declined 1.7% in Wednesday’s trading session ahead of the earnings announcement.

CFO Marc Graff highlighted that enhanced supply chain capacity and improved operational efficiency are enabling the company to “accelerate earnings” in coming periods.

The non-GAAP operating margin expanded substantially to 22.5% in the third quarter, compared to 10.7% in the corresponding quarter of the previous year.

The Routing and Switching segment produced $164.4 million in revenue, up from $125.9 million year-over-year. Global Services revenue reached $193.6 million versus $160.2 million in Q3 2025.

The company has scheduled a live conference call with investors for today, September 3, at 8:30 a.m. Eastern Time to provide additional commentary on the quarterly performance and future expectations.

The US state of Wyoming is adding Chainlink-based reserve monitoring to its Frontier Stable Token, giving users access to verified on-chain data about the assets supporting FRNT with minimal reporting delay. The move further broadens Chainlink’s role in the state-issued stablecoin.

According to a Wednesday announcement from the Wyoming Stable Token Commission, the state has selected Chainlink’s Proof of Reserve technology to put verified data on FRNT’s reserves and circulating supply onchain. The Network Firm will independently examine the figures before the data is transmitted through Chainlink infrastructure.

The commission is seeking an additional safeguard through Chainlink’s Secure Mint feature. Once adopted, the mechanism would prevent the creation of new FRNT unless verified reserves are equal to or greater than the token’s total supply. 

Those measures build on Wyoming’s existing reserve-reporting process. FRNT already has daily reserve attestations, while the GENIUS Act calls for monthly disclosures covering reserve composition and outstanding stablecoin supply. The commission said Proof of Reserve will provide more timely visibility into movements in the token’s backing between reporting periods.

Wyoming launched FRNT in January with backing from U.S. dollars and short-term U.S. Treasurys. Interest generated by those reserves is deposited into the state’s School Foundation Program. 

The latest reserve initiative comes roughly a fortnight after Wyoming broadened its use of Chainlink for FRNT. The state moved the token away from LayerZero and onto Chainlink’s Cross-Chain Interoperability Protocol, with CCIP taking over as the exclusive system supporting FRNT’s cross-chain operations.

Chainlink Expands Financial-Market Integrations Beyond FRNT, Chainlink has been extending its technology across tokenized securities and traditional financial infrastructure, with integrations involving Coinbase, the Depository Trust and Clearing Corporation (DTCC), and Fidelity International.

For Coinbase’s B20 tokenized equities, launched on Base in August, Chainlink supplies pricing data covering stocks including Apple, Meta, Nvidia, and Alphabet. Decentralized finance (DeFi) protocols can use those feeds to value the tokens for trading, lending, and collateral. 

Chainlink is also being incorporated into traditional market infrastructure. In May, DTCC said it planned to use the technology for a platform designed to handle tokenized collateral around the clock. Fidelity International unveiled a tokenized liquidity fund during the same month, using infrastructure from Chainlink and Sygnum, while JPMorgan supplies daily net asset value data for pricing.

The oracle network joined Project Pangea in June alongside European and South Korean banking groups. The project is exploring atomic foreign-exchange settlement between the two regions using regulated stablecoins denominated in euros and won.

LINK, Chainlink’s native token, was trading around $11.20 on Thursday after gaining more than 37% over the past month, according to CoinGecko. 

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

Hedera (HBAR) is showing renewed bullish momentum as institutional investors increase their exposure through ETF inflows, and buyers reclaim control after a period of price recovery.

Institutional inflows support HBARAt the time of writing, HBAR trades at $0.07393, with a 24-hour trading volume of $36.74 million and a total market capitalization of $3.24 billion. These figures reflect investor interest returning to the network and support a recently stabilizing price structure that analysts believe could lead to a bullish reversal.

Crypto analyst Hov stated that HBAR has rebounded from its recent lows, with its short-term chart structure now favoring buyers. The latest price movement appears impulsive, suggesting that further gains may be possible if key support continues to hold. However, any breach below recent lows would undermine this outlook.

HBAR’s recent bounce and impulsive movement reinforce the possibility of a bullish reversal, as long as the token maintains its position above the new support area.

Expectations for further consolidation among buyers focus on resistance near $0.12. The evolving wave pattern is seen as a key metric for determining HBAR’s next directional move.

Canary Capital’s ETF adds fresh capitalData from BSCN showed that the Canary Capital spot HBAR ETF has seen a renewed surge in interest. On Monday, the ETF attracted $399,000 in new investment, continuing a pattern of steady institutional inflows with only one day of net outflows so far.

Canary Capital operates investment products focused on blockchain assets, and its spot Hedera ETF allows institutional investors to gain exposure to HBAR directly through traditional financial markets.

The ETF currently holds about 1.7% of the total HBAR supply. Analysts suggest ongoing accumulation could reduce the available market supply over time, potentially supporting higher price levels if positive sentiment persists.

Mini dictionary: ETF (Exchange-Traded Fund), a regulated investment fund traded on traditional stock exchanges, allowing investors to buy and sell shares representing a basket or single asset, such as cryptocurrencies.

MetricValueCurrent HBAR price$0.0739324-hour volume$36.74 millionMarket capitalization$3.24 billionCanary ETF inflow (Monday)$399,000ETF share of HBAR supply1.7%Major resistance level$0.12Despite the recent bullish signals and stronger network growth, HBAR’s price continues to move in a neutral range. Market participants remain cautious amid broader uncertainty in the crypto market, especially as Bitcoin trends downward. Analysts believe that the ability of buyers to maintain critical support levels will determine the next moves for the token.

Institutional interest in HBAR is growing, and continued ETF inflows could help the token target resistance levels such as $0.12 in the weeks ahead.

Analysts note that the ongoing flow of institutional funds into HBAR may boost its upward momentum. If accumulation persists and market sentiment improves, HBAR could challenge important resistance levels in the near term.

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An attacker exploited an outdated Rain card contract on Aug. 28, draining approximately $1.1 million from multiple stablecoin card programs operating on Solana, according to blockchain security company Blockaid.

Summary

An outdated Rain Solana contract allowed unauthorized withdrawals from card collateral accounts across multiple programs. Blockaid estimated approximately $1.1 million was stolen, with proceeds later entering Tornado Cash on Ethereum. Avici reported $500,859 drained from 1,685 users, while Tria identified $431,945 affecting 636 customers separately. Rain said every program using the vulnerable contract version was upgraded following the August attack. Self-custodial wallets remained unaffected because the attacker targeted separate contracts holding funded card balances instead. Avici and Tria were among the affected crypto neobanks. The two companies disclosed combined losses of more than $932,800 across 2,321 users. Blockaid said other Rain-supported programs were also exposed, bringing the estimated loss to approximately $1.1 million.

The attacker did not access customers’ self-custodial wallets or private keys. Instead, the exploit targeted collateral contracts holding stablecoins that users had deposited to fund their card balances.

Rain said its monitoring systems discovered a vulnerability affecting a “small number of programs” using an outdated version of its Solana card contract. The company upgraded every program still running the affected version, according to its public statement.

An attacker exploited an outdated Rain contract, draining $1.1M in user card balances from @avici, @useTria, and other crypto neobanks.

Blockaid's Onchain Monitoring gives stablecoin card issuers the capability to detect exploits across their fleet of contract deployments.

Read… pic.twitter.com/vzMQfPkdtT

— Blockaid (@blockaid_) September 2, 2026 The incident adds to wider concerns about contract and operational vulnerabilities. Crypto security failures caused approximately $1.1 billion in losses during the first half of 2026, according to research published by Blockaid.

Rain contract flaw exposed shared card infrastructure Rain provides infrastructure that allows crypto companies to issue cards funded with stablecoins. When customers fund their cards, the deposited assets move into collateral accounts managed through onchain contracts.

These balances are separate from assets held inside customers’ personal wallets. Once funds enter a card collateral contract, their security depends on the infrastructure provider’s code and authorization controls.

Blockaid identified four deployments containing code with the same opcode hash as the vulnerable contract. The security company said the attacker drained at least two deployments. The other two reportedly carried the same vulnerability but had no confirmed losses.

Rain confirmed that an outdated contract caused the incident. However, it has not published a complete technical report identifying every affected deployment or explaining why some programs continued using the older version.

The situation resembles other incidents in which outdated or repeatedly vulnerable infrastructure remained active. In related coverage, attackers exploited the same Verus bridge contract twice within two months, raising similar questions about upgrades across shared deployments.

The Rain incident did not represent a compromise of Solana itself. The blockchain continued processing transactions normally while the attacker exploited application code deployed on the network.

Reused signature bypassed withdrawal controls The outdated Rain contract required two independent authorizations before allowing certain account actions. It used Solana’s Ed25519 verification instructions to confirm the required signatures.

According to Blockaid’s analysis, the attacker manipulated the second verification instruction. Its signature, public key and message offsets pointed back to information contained in the first instruction.

The vulnerable contract therefore accepted one attacker-controlled signature as two independent approvals. This allowed the attacker to satisfy the authorization requirement without permission from the owners of the collateral accounts.

After bypassing the signature check, the attacker used an AddCollateralAdmin instruction to give itself administrative privileges over individual accounts. It then called WithdrawCollateralAsset to transfer USDC and USDT from those accounts.

Blockaid recorded 2,945 administrator additions and 5,288 withdrawal calls. The company identified 8,233 core exploit transactions over approximately two hours and 29 minutes.

The operation proceeded at an automated pace. Blockaid said the first two successful withdrawals occurred three seconds apart, indicating that the attacker had prepared a system for targeting multiple accounts.

Customers did not authorize the malicious transactions. The exploit occurred at the contract level, meaning protections against phishing or malicious wallet signatures would not have prevented these withdrawals.

A different application-level weakness recently exposed another protocol when faulty collateral controls enabled a $75 million DeFi exploit. In both cases, the underlying networks continued operating while application logic allowed unauthorized activity.

Attacker moved funds through deBridge The withdrawn USDC and USDT accumulated in one Solana wallet identified as FVNFzqAny8spWdPmYw6RQ9TkYa29ueFFiqCFD1gQnCEj.

The attacker exchanged the stablecoins for SOL through decentralized trading platforms. Blockaid then traced the proceeds from Solana to Ethereum through the deBridge cross-chain protocol.

Approximately 455.9 ETH entered Tornado Cash between 19:20 and 19:49 UTC, according to Blockaid. Tornado Cash pools deposits and permits withdrawals to addresses that are not publicly connected to the original sending wallets.

The mixer therefore made subsequent movements harder to trace through public blockchain records. Blockaid said the stolen funds had not been recovered after entering Tornado Cash.

The use of cross-chain infrastructure added another stage to the laundering route. Crypto bridges have also become direct targets, with a forged transfer exploit draining $11.5 million from the Verus Ethereum bridge earlier in 2026.

Blockaid connected two Ethereum addresses to the initial financing of the Rain attacker’s Solana activity. Neither Rain nor law enforcement authorities have publicly identified the people controlling those addresses.

The company’s statements about detecting the attack and tracing the funds represent its own findings. Blockaid provides security and monitoring services to crypto companies, including stablecoin card issuers.

Avici and Tria disclose customer losses Avici reported that the attacker removed $500,859.22 from card balances belonging to 1,685 users. The company said it refunded all affected customers and provided 10% cashback following the incident.

Tria disclosed approximately $431,945 in losses across 636 customers. It said in an official update that each affected customer was being reimbursed.

The two disclosures account for $932,804.22 of the estimated losses. Blockaid also named Solayer Pay as an affected program, but no independently verified figure for its losses was available.

The difference between the disclosed Avici and Tria losses and Blockaid’s $1.1 million estimate appears to involve other Rain-supported programs. A complete breakdown has not been published.

Avici’s token fell 49% from its daily high after reports of the exploit emerged, according to market data. The token reached a reported low of $0.217 before partially recovering. Tria’s token also declined by more than 10% at one point.

Those price movements followed public reports of the attack, although broader market conditions may also have influenced trading.

Rain upgrades affected contract deployments Rain said all card programs using the outdated contract had been upgraded. The company reported no additional unauthorized activity after completing the changes.

It also said affected users would be made whole. Rain has not disclosed whether it will reimburse card programs directly or whether individual providers will carry the costs.

Several questions remain unanswered. Rain has not released the vulnerable contract’s full version history, the date the flaw was introduced or the reason older deployments remained active.

The company also has not disclosed whether an audit identified the authorization flaw before the attack. No recovery of the funds deposited into Tornado Cash has been publicly reported.

The episode renews questions about whether periodic audits provide enough protection after contracts enter production. Recent industry research found that institutions increasingly want continuous monitoring alongside traditional security audits, particularly for contracts holding user assets.

A detailed technical report would allow outside researchers to confirm the vulnerability and determine whether similar code remains active elsewhere. Card providers may also review how they track contract versions and limit administrative permissions across shared infrastructure.

Users can retain control of their personal wallets while still facing risks after depositing funds into a card program. The security of those balances depends on the contracts holding the collateral, the provider maintaining them and the operators responding when vulnerabilities emerge.

Ripple (XRP), Cardano (ADA), and Solana (SOL) show mild gains on Thursday, holding at crucial support levels amid easing bullish momentum. The technical outlook for XRP, ADA, and SOL indicates downside risk as the US-Iran war weighs on the broader crypto market. 

Ripple pulls back below 200-day EMARipple trades around $1.3685 on Thursday, holding a bullish near-term bias as price advances above the 50-day and 100-day Exponential Moving Averages (EMAs) at $1.2227 and $1.2191, respectively.

Despite this constructive positioning, the 200-day EMA at $1.3827 now acts as the overhead barrier. A confirmed breakout above this level could see XRP extend its recovery toward the August 23 high at $1.5507.

The Moving Average Convergence Divergence (MACD) has moved below its signal line, with a slightly expanding negative histogram, suggesting that upside momentum is softening as the Relative Strength Index (RSI) near 60 approaches the neutral zone from overbought territory.

XRP/USDT daily price chart.On the downside, initial demand is seen around the clustered dynamic supports provided by the 50-day and 100-day EMAs near $1.2227 and $1.2191, with deeper structural support traced back toward the prior breakout area around $1.0573.

Cardano rebounds from key support clusterCardano is up nearly 2% on Thursday, advancing its 2% rise from the previous day. The mild recovery suggests a constructive near-term bullish bias, with price trading above both the 50-day EMA at $0.1925 and the 100-day EMA at $0.1975 while tracking an upward-sloping support trendline around $0.1838.

However, the broader recovery is still capped by the 200-day EMA at $0.2531 overhead, reinforced by an ascending trendline. Cardano must clear above this zone for a sustained recovery toward the February 2 high at $0.2991.

The MACD declines below its signal line and remains marginally above zero, suggesting that upside momentum is waning, while the RSI, at 54, drops from the overbought zone into neutral territory.

ADA/USDT daily price chart.Immediate support is seen at the recent $0.2051 area, with stronger demand clustered around the 100-day EMA at $0.1975 and the 50-day EMA at $0.1925.

Solana is back at $100Solana trades around $100 at press time on Thursday, maintaining a bullish near-term bias as price holds above the 50-, 100- and 200-day EMAs clustered between roughly $83.85 and $93.58, which collectively underpin the broader uptrend.

The RSI at 63 is declining from overbought territory, indicating easing bullish momentum, while the MACD has slipped marginally below its signal line, hinting at waning upside momentum.

The next notable structural barrier is the horizontal resistance line at $116.88, marked by the December 18 low, which would come into focus only if buyers extend the ongoing advance.

SOL/USDT daily price chart.On the downside, immediate support is at the current price level near the $100 psychological threshold, reinforced by the February 1 low at $98.02, followed by the 200-day EMA around $93.58.

(The technical analysis of this story was written with the help of an AI tool. Know more.)

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Charles Hoskinson, founder of Cardano, has called on the platform’s community to complete key development and governance milestones, emphasizing that Cardano must “finish what we started” before pursuing the next stage of growth.

Focus on Roadmap DeliverablesHoskinson’s remarks came amid an ongoing update to the Cardano Constitutional Committee’s voting mechanism, a core element for the platform’s decentralized governance. He stressed the importance of implementing essential features, particularly the Leios scalability protocol upgrade and the related hard fork, which are seen as fundamental for future network expansion.

The Cardano community has already approved a governance structure that requires the Constitutional Committee to maintain a minimum of five members. This committee is authorized to approve upgrades, including the forthcoming Leios constitutional amendment.

The platform must complete its foundational objectives and reinforce its governance to ensure sustained network growth, as highlighted by Charles Hoskinson.

Establishing autonomous, continuously improving institutional frameworks remains a central goal, according to Hoskinson. He described this as completing the “last mile of governance” for Cardano.

RealFi and Bitcoin DeFi Attract FundingHoskinson spotlighted progress within the Cardano ecosystem, noting strong momentum for the RealFi protocol and growing interest in Bitcoin DeFi integrations. Forecasts suggest that RealFi could bring billions of dollars in total value locked (TVL) into the network over the coming years.

He disclosed that the Pogun Bitcoin DeFi initiative, part of Cardano’s broader DeFi push, has already secured $600 million in initial funding commitments.

Mini dictionary: RealFi, or “Real Finance,” refers to the deployment of decentralized finance (DeFi) protocols that interface with real-world assets, offering solutions like loans or yield generation backed by tangible value rather than only digital assets.

The Pogun project is expected to drive further growth in the network’s DeFi ecosystem, with optimism about its role in expanding Cardano’s relevance in decentralized finance.

ADA Price Performance and Market PositionDespite these developments, Cardano’s ADA token has struggled in 2026. ADA has fallen by 40.71% since January, dropping from the list of the top 10 cryptocurrencies by market capitalization. The network now ranks 36th in TVL among DeFi platforms.

Project2026 DeclineTVL RankSpot ETF AvailabilityCardano (ADA)40.71%36NoSolana (SOL)18%4YesBitcoin (BTC)Not specified1YesMeanwhile, competing networks such as Solana have recorded smaller declines of about 18% this year and benefit from spot exchange-traded fund (ETF) products, unlike Cardano. The lack of an ADA ETF is cited as a hurdle for institutional investment.

ADA is currently trading near $0.20, reflecting a 94% drop from its September 2021 peak of almost $3.

Market Analyst Signals Potential UpswingMarket analyst Ali Charts has identified a buy signal for ADA via the Tom DeMark Sequential (TD Sequential) technical indicator on daily charts. Historical data from this tool shows previous signals coincided with notable rallies, including increases of 44.5% on June 25, 11.5% on July 15, and 50.9% on August 18 this year.

Mini dictionary: Tom DeMark Sequential (TD Sequential) is a technical analysis indicator used to identify potential trend reversals based on price patterns in financial markets.

The Tom DeMark Sequential has revealed a new buy signal for ADA, with recent occurrences marking the start of significant rallies in June, July, and August.

Hoskinson remains optimistic about Cardano’s outlook and insists that the network is “not out of the game.” The Leios scalability upgrade and RealFi platform deployment are both scheduled for later this year.

Uniswap price has doubled since August 14, and the money comes from an unexpected place. Robinhood Chain, the network Robinhood launched on Arbitrum in July, now generates two thirds of everything Uniswap earns.

The original Robin Hood took from the rich and gave to the poor. This one takes from the chain it was built on and pays a protocol that has found it hard to keep its revenue.

Robinhood’s Record Month Ran on UniswapRobinhood Chain traded $17.99 billion in August, 26% more than July, per DefiLlama’s Robinhood Chain data, and September 1 was its biggest single day yet.

Almost all of it was Uniswap. On September 1, $1.75 billion of the chain’s $1.95 billion passed through Uniswap pools, per Dune, so nearly every new dollar on the chain is a new dollar of Uniswap fees.

Uniswap Share of Robinhood Chain Volume: BeInCryptoThe number of traders barely changed. Wallets rose 22% since August 1 while volume rose 7.9 times, so each is trading about six times more.

Robinhood Chain Volume vs Wallets: BeInCryptoExisting users are putting more money to work, and since Uniswap earns a percentage of each trade, that deepening interest is worth more to it than a rush of new wallets.

So who collects those fees?

Taking From Arbitrum, Paying Uniswap?Not the chain’s landlord. Robinhood Chain is an Arbitrum Orbit chain, meaning Robinhood built it with Arbitrum’s technology and in return hands Arbitrum 10% of the chain’s net revenue, which came to $1.32 million in 30 days.

Uniswap, the exchange where the trading happens, collected $78.73 million in trading fees there over the same period. That is 60 times Arbitrum’s share, and 66% of everything Uniswap earned across 47 chains. Arbitrum gets paid for lending the technology. Uniswap gets paid every time someone trades.

Uniswap vs Arbitrum Robinhood Chain Fees: BeInCryptoThe DeFi protocol also earns more per dollar there, charging 0.465% of each dollar traded on Robinhood Chain against 0.214% globally, because Robinhood swaps land in higher fee tiers. In the two highest Uniswap v4 tiers, they paid 84 and 351 basis points against 45 and 241 on Ethereum, per Dune indexed data.

Uniswap v4 Fee Tiers Robinhood vs Ethereum: BeInCryptoThose tiers are where tokenized stocks trade, and their share of volume rose from under 0.1% in mid August to 4.1% on September 1. More volume at a higher rate means more fees.

The Weakness Robinhood Is FixingMore fees matter because keeping them is where Uniswap falls short. Of $119.3 million in 30-day fees, only $9.45 million, or 7.9%, reached UNI holders through the burn approved last December. Aerodrome, the largest exchange on Base, passes 70% to holders. GMGN, a Solana meme coin trading app, passes 82%.

Uniswap Fee Capture vs Rivals: BeInCryptoRobinhood does not raise that 7.9%. It raises the fee total the 7.9% is taken from. Robinhood Chain’s volume grew 26% in August, and Uniswap charges double its usual rate there. Therefore, every dollar traded on the chain produces more Uniswap fee than a dollar traded elsewhere.

A fixed 7.9% of a larger fee total means more money spent buying and burning UNI, and fewer UNI left in circulation.

On-Chain Volume: BeInCryptoThat is the revenue story whale wallets bought with 257,777 UNI as September opened, and the price was already moving on it.

Uniswap Price Action: A Flag After a 100% PoleUniswap trades at $5.73, down 2.1% day-on-day, after a 100% run from $3.16 on August 14 to $6.38. The pullback looks like a bull flag, which usually resolves upward.

Price Vs. Volume: TradingViewVolume agrees. Buying rose into the peak, and selling has stayed below August 24 levels since.

A daily close above $6.20 confirms the flag and opens $7.06, 23% higher. Below $5.67 the flag fails, and a break under $4.35 erases the setup.

Uniswap Price Analysis: TradingViewAnalyst’s View: Robinhood did not set out to rescue Uniswap, but the money says it has. While Robinhood’s volume keeps climbing, UNI has a revenue story it never had before. The chart says the market is still deciding whether to believe it.

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On September 2, U.S. investor demand for cryptocurrency ETFs was clearly divided, with Bitcoin drawing in new investment, while Ethereum, XRP, and Solana products all saw daily net outflows.

Surge of spot ETF inflowsThe most recent ETF data shows that during the session, Bitcoin spot ETFs saw net inflows of $101.15 million. As a result, their total net assets increased to $97.22 billion, while their cumulative net inflows reached about $54.73 billion. Additionally, daily trading volume for Bitcoin ETFs was approximately $1.73 billion, significantly higher than that of any other category of cryptocurrency ETF.

XRP/USDT Chart by TradingViewThe picture for the main altcoins was significantly worse. Despite maintaining positive 30-day flows of $1.83 billion, Ethereum ETFs saw daily net outflows of $48.08 million. Their total inflows are still around $13.03 billion, indicating that the most recent withdrawal is not as large as the total amount of capital that has been accumulated over time.

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Withdrawals are spikingEvery day, XRP had to deal with an even greater withdrawal. Together, the five XRP ETF products recorded outflows of $57.20 million. Nonetheless, cumulative net inflows are approximately $1.68 billion, and XRP's 30-day figure is still positive at $165.22 million.

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Of the three, Solana had the biggest outflow, losing $6.13 million over the course of the day. Its overall figures are still positive: SOL ETFs have drawn $197.60 million over the past 30 days and roughly $1.34 billion overall.

The divergence indicates that, rather than completely giving up on cryptocurrency ETF exposure, investors are currently viewing Bitcoin as the safer option during a time of uncertainty. Some of this hesitancy is also reflected in price action.

Following its spectacular August surge toward $1.70, XRP is currently trading at $1.36, testing the 200-day moving average at $1.35. If XRP is to avoid the correction continuing toward its 20-day EMA at $1.29, it is crucial to hold onto this level.

As a result, the ETF data shows conflicting results. Although altcoin products are experiencing short-term redemptions, their 30-day flows are still positive. While its biggest rivals moved in the opposite direction, Bitcoin has regained the strongest immediate institutional demand, adding more than $100 million.

2 hours ago

Solana’s official podcast *House of Sol* recently interviewed Geoff Kendrick, global head of digital assets at Standard Chartered. Kendrick noted that global monthly stablecoin trading volume has reached roughly $7 trillion, with Solana handling about one-fifth of these transactions. The two also discussed trends in stablecoin payments and settlement by 2026, as well as how different blockchain networks are developing their own application niches. Kendrick further shared progress on enterprise adoption of stablecoins, stating that enterprise use cases will be a key driver for the further mainstream adoption of stablecoins.

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A hacker linked to the third wave of Coldcard wallet thefts has started swapping stolen Bitcoin for Ether through THORChain.

Galaxy head of research Alex Thorn took to X on Wednesday to report that the third-wave exploiter moved about 10% of the stolen funds, with 90% remaining untouched. Thorn said it marked the first time funds from any of the three waves had moved onchain from the original hacker addresses.

“The hacker appears to be having some issues swapping all the funds through THORChain — they keep getting refunded and he keeps retrying,” he said.

Thorn said onchain analysts traced the funds through THORChain to a new Ethereum address, adding that he shared it with relevant authorities and crypto companies. It remains unclear whether the attacker will attempt to further obscure or move the assets through an exchange, he added.

The transfers follow a Coldcard exploit that Galaxy Research linked to the theft of at least 1,789 Bitcoin from 8,865 addresses, worth about $114.7 million at the time they were stolen. Blockchain security company CertiK reported in August that hackers linked to the exploit had sent 64 Bitcoin and 200 Ether to cryptocurrency mixers such as Tornado Cash.

The latest movement comes days after Thorn said the Coldcard attackers remained active, citing the Aug. 28 sweep of a deliberately weakened researcher wallet designed to test the attackers’ ability to find vulnerable keys.

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

A hacker associated with the third wave of Coldcard wallet thefts began converting stolen Bitcoin into Ether through THORChain on Sept. 3, according to Galaxy Research’s Alex Thorn.

Summary

Third-wave Coldcard attacker moved roughly 10% of stolen Bitcoin through THORChain into Ether this week. Researchers traced the swaps to a new Ethereum address and shared details with relevant authorities. Around 90% of the third-wave funds remained unmoved when Galaxy researcher Alex Thorn reported transfers. THORChain repeatedly refunded some swap attempts, prompting the attacker to resubmit transactions, Thorn reported Wednesday. Coinkite says affected seeds require migration because installing corrected firmware cannot repair existing wallet credentials. The transactions moved approximately 10% of the Bitcoin controlled by that attacker, Thorn said. Roughly 90% remained at its original addresses when he published the update.

Researchers traced the swaps through THORChain to a newly identified Ethereum address. Thorn said he shared the address with law enforcement, crypto companies and other organizations monitoring the stolen assets.

Coldcard hacker encounters failed THORChain swaps THORChain allows users to exchange native assets across blockchains without depositing funds into a centralized exchange. The protocol can therefore convert native Bitcoin into Ether without relying on a conventional custodial platform.

COLDCARD WAVE 3 HACKER SWAPS FUNDS TO ETH VIA THORCHAIN

the wave 3 exploiter has moved stolen funds for the first time, swapping to ETH them through the THORChain cross-chain DEX

these are the first funds from wave 1, 2, or 3 to move onchain from the original hacker addresses pic.twitter.com/jjOrX5wBR9

— Alex Thorn (@intangiblecoins) September 2, 2026 However, not every transaction succeeded. Thorn said the hacker appeared to be experiencing technical problems while attempting to process the swaps.

“The hacker appears to be having some issues swapping all the funds through THORChain — they keep getting refunded and he keeps retrying,” Thorn said.

The cause of the refunds was not immediately confirmed. Possible explanations include liquidity limitations, transaction settings or protocol safeguards, but no verified technical assessment had established the reason.

The movement represented the first detected onchain transfer from the original addresses associated with the first three attack waves, according to Thorn. Analysts will now monitor whether the resulting ETH moves to centralized exchanges, bridges or privacy services.

Galaxy traced 1,789 Bitcoin to the thefts Galaxy Research previously attributed the loss of 1,789.28 BTC across 8,865 addresses to the Coldcard vulnerability. The Bitcoin was worth approximately $114.7 million when stolen.

As crypto.news previously reported, approximately 87% of the identified Bitcoin remained unmoved as of Aug. 25. The estimate included funds linked to multiple attackers and attack waves, not only the wallet now using THORChain.

Galaxy’s figures partly relied on 221 victim reports covering 790.72 BTC. Onchain analysis identified additional affected addresses beyond those reported directly by customers.

The total remains an estimate because researchers have identified several attacker patterns with different levels of confidence. Galaxy has distinguished its high-confidence attribution from other addresses that may also relate to the vulnerability.

Earlier attackers used cryptocurrency mixers The latest THORChain swaps are separate from earlier laundering activity attributed to other attackers. CertiK reported in August that wallets linked to the broader incident sent 64 BTC and 200 ETH toward cryptocurrency mixers.

In related coverage, crypto.news found that one attacker retained 1,159 BTC while another began mixing smaller amounts. The different movements suggest that several parties may have exploited the same weakness.

Mixers and cross-chain swaps can complicate tracking, but they do not automatically make funds untraceable. Investigators can continue following transfers when assets enter and leave public protocols.

Centralized exchanges remain potential intervention points because they conduct identity and sanctions checks. Thorn said the new Ethereum destination had been distributed to relevant companies so they could identify subsequent deposits.

Coldcard users still need new wallet seeds The theft was linked to weak seed generation in Coldcard firmware released from 2021. The vulnerability reduced the randomness protecting some wallet credentials, allowing attackers to calculate private keys without physically accessing the devices.

Coinkite, Coldcard’s manufacturer, says corrected firmware is available across affected models. Its current security guidance states that previously generated vulnerable seeds still require migration.

Installing updated firmware does not repair a seed created under the affected software. Users must generate a new seed with corrected firmware and transfer their Bitcoin to addresses controlled by that new wallet.

Meanwhile, the attacker also remained active after the largest theft waves had ended. On Aug. 29, an address linked to the operation swept Bitcoin from a deliberately weakened researcher wallet, according to Thorn. Researchers created the wallet to test whether the attacker continued searching for predictable private keys. Its rapid compromise indicated that automated scanning remained active nearly one month after the first large thefts.

https://twitter.com/intangiblecoins/status/2093457952103387618

The incident has also prompted closer examination of how hardware wallets generate recovery phrases. Unlike phishing attacks, the Coldcard thefts did not require victims to approve transactions or reveal credentials. The exposed seeds contained insufficient randomness, allowing attackers to derive keys remotely and identify funded addresses on Bitcoin’s public ledger. As crypto.news previously explained, the firmware flaw weakened seeds generated on affected devices, meaning secure storage practices could not protect funds tied to those credentials.

Galaxy and other investigators are expected to continue watching the new Ethereum address. No public recovery, arrest or official identification of the attacker had been announced when the transfers were reported.

3 Reasons Why Shiba Inu (SHIB) May Plunge This Month

, reflecting a sharp slowdown compared to the prior month's activity.

A Steep Drop from July's Record Pace

Who Led the Burns in August Centralised exchanges also featured prominently in the rankings.

CEX.IO contributed 61.41 million SHIB across five transactions, while Robinhood transferred 39.04 million SHIB through 101 separate transactions.

The involvement of major retail brokerages such as Robinhood and Coinbase alongside dedicated ecosystem platforms like WoofSwap illustrates how the burn mechanism draws participation from across the crypto landscape, even during quieter months.

Sources:
The Crypto Basic: Robinhood and Coinbase Among Top 10 Shiba Inu Burners in August
Shibburn: Official SHIB Burn Tracker
Cryptonomist: Shiba Inu Token Burns Drive 17% Price Rally