Flash News

TREE NEWS update: 1inch is winding down its 1inch Card program, closing new user registrations while existing cards and accounts remain usable for now. Holders are advised to withdraw or spend card balances by Dec. 18 at the latest. Funds are not held by 1inch but sit in e-wallets issued by licensed e-money institution Monavate, with account closures, KYC and personal data handled by card service provider Crypto Life.

TREE NEWS reports: The attacker behind Drift Protocol moved at least 13,400 ETH, worth about $32 million, into Tornado Cash after two months of inactivity, on-chain tracker Onchain Lens reported on October 20. The wallet still holds roughly $224.59 million in tracked assets, including 93,965 ETH (about $224.04 million), 477,375 USDY (about $549,000) and 1.33 SOL (about $138). The transfers may be intended to obscure the funds’ trail.

TREE NEWS reports: Uniswap’s total value locked on BNB Smart Chain reached about $437 million, up 104% over the past seven days and 213% over 30 days, DefiLlama data show. BSC’s network-wide TVL stood at roughly $5.93 billion, while decentralized exchange volume on the chain hit about $6.26 billion over the past week, a 37.95% increase from the prior seven days.

TREE NEWS reports: A Lido engineer has warned that a staking deposit hijack is possible under Ethereum’s planned Glamsterdam upgrade, after a related consensus-specs issue was closed as “not planned.” The author of the issue points to pre-deposit checks as a defense against the attack vector. No exploit or loss was reported.

TREE NEWS update: Modular blockchain project Sophon will permanently shut down its mainnet on Nov. 30, with users required to withdraw assets by Nov. 25. The project, which raised more than $70 million including a $10 million round in March 2024 and $60 million via node sales in May 2024, had already announced in June that it would close its Layer 2 network and migrate to Base to focus on consumer applications. Sophon’s TVL has fallen from a peak of about $20.1 million in May 2025 to roughly $16,500.

TREE NEWS update: PaperTrade, a synthetic perpetuals platform, announced its PAPER token will remain non-transferable with no timetable for open transfers or secondary trading, citing attackers who would short PAPER and manipulate prices to drain its pools. Paragon and Aster halted PAPER pre-market perpetuals and Hyperliquid settled all open positions at $0.026296. BTC open interest on PaperTrade fell 41% to $230 million and ETH fell 55% to $66.3 million after the announcement, with TVL down about 7% to $58.3 million.

TREE NEWS update: Gate’s security team and Web3 security firm GoPlus Security said in the third installment of Gate’s ‘Gate Security Course’ that a one-time audit is a snapshot that begins to expire on delivery, as contracts upgrade, permissions change and new attack methods emerge. GoPlus partner Adam cited automated tooling that can surface deep flaws in long-live contracts within minutes, and said projects need full-lifecycle security rather than a single report. Gate said it conducts periodic audits of listed projects and offers a security score plus an account protection plan covering up to $200,000 per incident.

TREE NEWS update: Aerodrome and Velodrome merged into Aero on Oct. 22, halting emissions on both protocols and launching the combined token across seven chains including Base, Ethereum mainnet, OP Mainnet, Arbitrum and Robinhood Chain. Old AERO converts 1:1 to new AERO, while 1 VELO converts to 0.044 new AERO, with Aerodrome holders receiving about 94.5% of the new supply. The launch replaces weekly ve(3,3) voting with Predictive Allocation and ties emissions to protocol revenue.

TREE NEWS update: Paragon suspended PAPER trading and settled all open positions at $0.026296, with the halt taking effect at 06:31:15 Beijing time. The platform acted after Papertrade said it no longer plans to open PAPER transfers, removing the spot price basis the pre-listing perpetual contract needed to converge toward. Settlement used the time-weighted average of oracle prices over the hour before the halt; all orders were cancelled and margin released, requiring no action from traders.

TREE NEWS update: Aster is set to delist its PAPER perpetual contract after Papertrade ruled out token transfers for now. Paragon had already halted its PAPER market and settled all open positions at $0.026296. The transferability decision removes the basis for the perpetual market, prompting the delisting.

TREE NEWS update: Papertrade founder Jez said the team set its PAPER token to non-transferable after perpetual futures markets arrived faster than expected, exposing unresolved attack risks the protocol had not yet mitigated. Jez said the team had assumed large perp markets were about six months away, forcing a decision before a fix was found. He argued PAPER represents a claim on protocol revenue and its value depends on Papertrade attracting traders, not on free trading.

TREE NEWS reports: A single address is holding more than $24 million in long oil positions on Hyperliquid, ranking first in CL contracts and fourth in BRENTOIL. The CL position totals 149,000 contracts worth $14.73 million at an average entry of $98.14, with unrealized gains of $109,000. The BRENTOIL position is 93,000 contracts worth $9.98 million at an average entry of $106, showing $48,000 in unrealized profit.

TREE NEWS update: Decentralized trading platform Aster has immediately placed its PAPER pre-market perpetual contract into reduce-only mode and will delist the market at 09:45 Beijing time on October 20, the exchange announced. Aster cited recent developments around PAPER and potential market risks, describing the move as a precautionary risk-management measure to maintain orderly trading. Users holding open positions are advised to close them before the delisting.

TREE NEWS reports: A BTC trading address with a 100% win rate across 12 rounds between Sept. 18 and Oct. 13, 2026, increased its BTC short position by about $1.43 million, raising it from roughly $680,000 to about $2.11 million. The add-on took place between 01:04 and 09:20 on Oct. 20. The address is 0xf517639a8872e756ac98d3c65507d2ebc25cc032.

TREE NEWS update: Papertrade has kept its PAPER token non-transferable, citing risks from perpetual-futures attacks. Holders who earned PAPER through trading losses can stake the token to receive USDC distributions, but no date has been set for when they will be able to transfer or sell their tokens. The decision leaves holders with staking rewards but no exit route.

TREE NEWS update: Circle minted a total of 500 million USDC on the Solana network in two transactions on October 20. The mints of 250 million USDC each occurred at 04:39 and 04:51, worth roughly $500 million combined. Solscan data shows both mint transactions were executed successfully.

TREE NEWS update: XRP Ledger developers have published a second amendment to repair the network’s new uncollateralized lending feature while the original amendment still awaits validator approval. The fix targets the lending protocol ahead of its go-live, with no timeline given for when validators will vote on either amendment.

TREE NEWS reports: Sentora’s OUSD lending vault on Tempo holds $42.5 million. The vault lends against cbBTC collateral, but nearly all of its assets remain idle rather than being deployed into loans.

TREE NEWS update: Western Union’s Stablecard, a USDPT-backed Visa card issued with Rain, is now live in 37 markets, Rain said. The card is being promoted at Money20/20 with up to $40 in purchase-only credits, subject to in-person signup and approval.