Flash News

TREE NEWS reports: DeFi researcher Ignas said fewer than 20 crypto projects have holders earning more than $50,000 in daily revenue, making the pool of tokens with genuine income support unusually thin. After factoring in valuation, token unlocks and revenue sustainability, the list shrinks further, he said, noting that some tokens with unappealing market-cap-to-fully-diluted-valuation ratios are better suited for trading than long-term holding. Ignas added that most tokens still trade on narrative and sentiment, and that recent DAO dissolutions show “decentralization” accountability remains weak.

TREE NEWS update: Bitget’s attacker executed two small test transfers roughly 30 minutes before draining $388 million from the exchange, CEO Gracy Chen said. The preliminary transfers suggest the exploiter probed the platform’s risk controls before carrying out the larger theft, Chen said.

TREE NEWS update: Bitmine, the ETH treasury vehicle associated with Tom Lee, has bought another $47 million of ether, taking its holdings to 4.9% of the total Ethereum supply. The company has staked 84% of its tokens, a position it projects will generate about $358 million a year in staking rewards.

TREE NEWS update: Bitget has reopened bitcoin withdrawals following a $387.5 million breach, while ETH and USDT withdrawals remain paused. CEO Gracy Chen pledged to replenish the exchange’s protection fund above $300 million this week.

TREE NEWS update: A fake GIWA Layer 2 bridge has been drained of 766 ETH, with DYORSWAP saying it mistook the network for the Upbit-backed project. The platform promised 40% reimbursement for eligible wallets that bridged less than 5 ETH.

TREE NEWS update: Bitget has resumed Bitcoin withdrawals following last week’s $388 million hack, with Ether withdrawals scheduled to return Tuesday and USDt on Wednesday as the exchange restores services. The attacker swapped ETH via THORChain.

TREE NEWS reports: Wintermute holds $126 million in short positions on Hyperliquid, including $46.92 million in ETH shorts, $11.3 million in SOL shorts and $10.03 million in HYPE shorts. The positions are currently up about $963,600, bringing Wintermute’s cumulative profit to $197 million.

TREE NEWS reports: Coinkarma founder Benson Sun said the practical value of liquidation heatmaps is overstated, arguing that their dense clusters are inferred from historical trade data and assumed leverage multiples rather than representing actual positions still awaiting liquidation. Position changes, margin top-ups and shifts in average cost all move liquidation zones, with error growing over time, he said. Sun added that heatmaps are best used as short-term market-structure context covering roughly the past 24 hours to three days, and should not carry too much weight in a trading system.

TREE NEWS update: Bitget has reopened bitcoin withdrawals as it begins a phased restart of services, four days after attackers drained $388 million from its hot and warm wallets. The exchange said ETH, USDT and every other asset will follow on a set schedule running through Oct. 2.

TREE NEWS update: THORChain has refused a request from Bitget to block addresses linked to a $387.5 million theft last week, saying the protocol does not censor by design. The exchange asked the network to stop serving wallets connected to the hack, but THORChain said its emergency halts are not a tool for freezing specific funds.

TREE NEWS update: OKX will launch an ETH-only Flash Earn Lite campaign from Sept. 29, 2026, 15:00 to Oct. 4, 2026, 15:00 (UTC+8), letting users subscribe ETH to share a 400,000 USDT airdrop. The minimum subscription is 0.01 ETH, with early subscription open from Sept. 28, 15:00 (UTC+8). Rewards are calculated hourly, funds can be redeemed at any time, and ETH not redeemed after the campaign ends stays in Simple Earn.

TREE NEWS reports: GoPlus security researchers flagged a high-risk meme coin fraud factory on Robinhood Chain that generated roughly 3,589.14 ETH, about $9.49 million, in two-way volume over the past 30 days across hundreds of fraudulent tokens. Its fund-collection address held about 56.06 ETH, roughly $148,000, as of Sept. 28, 2026, with some 1,385 transactions. Tokens follow a path of approval or sale, ETH liquidation, then transfer into the same collection address.

TREE NEWS update: Scammers posing as the unlaunched GIWA network stole about $2 million in ETH, prompting DYORSWAP to say it paid more than 200 ETH in compensation to affected users. Upbit operator Dunamu, which is behind GIWA, warned that its mainnet has not launched. The incident highlights impersonation risk around pre-launch crypto brands.

TREE NEWS reports: On-chain analyst Wazz has identified a rug-pull operation on Robinhood Chain that launched at least 53 token projects in two months and cashed out roughly $18.43 million. The ring funded each new launch wallet seconds before deployment with proceeds from the previous project, pre-sniped over 70% of circulating supply and bundled 70-200 sybil wallets per token, mostly through Pons V2. CRUMBS, LEGS and PINK were the three largest cash-outs at $3.12 million, $2.9 million and $1.44 million.

TREE NEWS update: Bitget has begun resuming withdrawals on a phased basis after a $388 million exploit, saying it has patched the vulnerability. The exchange said losses from the incident will be fully covered by its user protection fund.

TREE NEWS reports: The hacker behind the $351.6 million Bitget exploit is converting stolen ETH into BTC through THORChain, on-chain monitoring firm Lookonchain said on September 28. The cross-chain swap moves the funds across networks and complicates tracing, as the ETH is exchanged for Bitcoin via the decentralized liquidity protocol.

TREE NEWS update: THORChain said its network halt is an emergency safety mechanism designed to protect the protocol, not a selective freeze targeting specific funds or a single swap. The project noted that in the May 2026 attack that drained $10.7 million from liquidity pools, the attacker’s addresses were never blacklisted, so they were never blocked from swapping on THORChain. THORChain is permissionless and was designed without censorship features, it said.

TREE NEWS update: Stablecoin U has passed $1.38 billion in total circulation with more than 81,600 holders, the issuer said, adding that peak daily spot volume on Binance reached $1.5 billion and a record single-day high above $3 billion. U has also listed on Kraken and opened direct deposit and withdrawal channels between Binance and Robinhood Chain. Binance Earn offers up to 6.63% APR on U on the first $8,000, while VIP users can earn up to 7.7% on the first $500,000 from Sept. 15 to Oct. 15.

TREE NEWS update: Binance Wallet now supports paying gas fees with USDT, the exchange’s wallet unit said on September 28. The feature covers BNB Smart Chain, Ethereum, Solana and Tron, letting users settle network fees in the stablecoin instead of each chain’s native token.