🚨 Zcash bleeds off its peak as ETF cash walks and North Korea shows up
So much for privacy coin season. That lasted about as long as a free trial.
▪️ ZEC ran to a peak, the timeline declared privacy coin season officially open, and now it's bleeding off the top. Classic sequence.
▪️ Meanwhile the ETF cash is walking. Not panicking, not posting, not explaining itself — just walking. That's how the big money exits: no announcement, no goodbye tweet, just a chart that quietly stops…
▪️ And North Korea shows up in the story. Of course it does. Every time a privacy coin needs a fresh narrative, the sanctioned-state boogeyman appears right on cue, fully costumed.
▪️ Notice the order of operations here. First the peak, then the ETF money leaves, then the scary story lands.
▪️ You don't get wrecked by a headline. You get wrecked by a headline plus your own conviction that this time it's different. The headline is just the delivery mechanism.
▪️ If you're still holding because 'privacy is a real use case' — fine, that's a thesis. Just don't confuse a thesis with a trade.
@xstable
So much for privacy coin season. That lasted about as long as a free trial.
▪️ ZEC ran to a peak, the timeline declared privacy coin season officially open, and now it's bleeding off the top. Classic sequence.
▪️ Meanwhile the ETF cash is walking. Not panicking, not posting, not explaining itself — just walking. That's how the big money exits: no announcement, no goodbye tweet, just a chart that quietly stops…
▪️ And North Korea shows up in the story. Of course it does. Every time a privacy coin needs a fresh narrative, the sanctioned-state boogeyman appears right on cue, fully costumed.
▪️ Notice the order of operations here. First the peak, then the ETF money leaves, then the scary story lands.
▪️ You don't get wrecked by a headline. You get wrecked by a headline plus your own conviction that this time it's different. The headline is just the delivery mechanism.
▪️ If you're still holding because 'privacy is a real use case' — fine, that's a thesis. Just don't confuse a thesis with a trade.
@xstable
🟢 Green tape while an exchange eats a $388 million hole
BTC is parked at $86,591, painting green candles like nothing's wrong. Meanwhile some exchange is quietly chewing through a $388 million hole. You've seen this rerun — the tape looks tasty right up until the exit door gets welded shut and the chat goes quiet.
▪️ 🟢 Green candles: the market's way of telling you to ape in while the smart money quietly finds the door
▪️ 💰 $388M hole: that's not a rounding error, that's somebody's exit liquidity getting repriced in real time
▪️ 📈 Chart's up, so everyone's a genius again — right up until the first liquidation cascade turns the timeline into a graveyard
▪️ 📉 The dump never announces itself; it just shows up when your stop is too tight and your conviction is too loud
▪️ 🔒 Exchanges don't eat nine-figure holes quietly unless they're praying you won't notice before you deposit
▪️ 🕵️ Ask who's on the other side of your buy right now — probably the guy who already knows about the hole
@xstable
BTC is parked at $86,591, painting green candles like nothing's wrong. Meanwhile some exchange is quietly chewing through a $388 million hole. You've seen this rerun — the tape looks tasty right up until the exit door gets welded shut and the chat goes quiet.
▪️ 🟢 Green candles: the market's way of telling you to ape in while the smart money quietly finds the door
▪️ 💰 $388M hole: that's not a rounding error, that's somebody's exit liquidity getting repriced in real time
▪️ 📈 Chart's up, so everyone's a genius again — right up until the first liquidation cascade turns the timeline into a graveyard
▪️ 📉 The dump never announces itself; it just shows up when your stop is too tight and your conviction is too loud
▪️ 🔒 Exchanges don't eat nine-figure holes quietly unless they're praying you won't notice before you deposit
▪️ 🕵️ Ask who's on the other side of your buy right now — probably the guy who already knows about the hole
@xstable
🚨 Ex-NCA cop swiped 50 seized BTC — now he owes $2.38M because bitcoin mooned
Paul Chowles, 44, out of Bristol, was the guy the UK's National Crime Agency trusted to pull crypto off seized devices. In 2017 he quietly walked 50 bitcoin out of a confiscated Silk Road 2.0 wallet — that bag was worth about $79,250 back then. Now he's been ordered to hand back £1.8 million, roughly $2.38 million, because bitcoin's price did the heavy lifting for the prosecutors. He took the coins; the market took him.
▪️ Chowles was on the Silk Road 2.0 investigation with clearance to analyse and extract cryptocurrency from seized devices. That clearance was the entire exploit — nothing else was needed.
▪️ He pleaded guilty to theft, transferring criminal property and concealing criminal property. July 2025: five and a half years inside.
▪️ He tried to bury the trail in a complex chain of crypto transactions. Merseyside Police and the North West Regional Asset Recovery Team still traced the assets.
▪️ Cops recovered 30 of the 50 stolen bitcoin from him. The rest of the tab isn't the coins, it's the price: 50 BTC was pocket change in 2017 and a seven-figure clawback in 2025.
▪️ The NCA formally dismissed him on July 11, 2025. A compensation order routes the money squeezed out of him to the victim in the original Silk Road 2.0 case.
📊 Confiscation order:
📊 Bitcoin stolen:
📊 Value at time of theft, 2017:
📊 Recovered by investigators:
💬 «Paul Chowles exploited a position of trust for personal gain, stealing assets that had already been recovered through law enforcement action.» — Luke Clements, specialist prosecutor, CPS Proceeds of Crime Division
🔮Nick $80k of bitcoin, get billed $2.38M. That's not justice, that's a leveraged short you took against yourself.
@xstable
Paul Chowles, 44, out of Bristol, was the guy the UK's National Crime Agency trusted to pull crypto off seized devices. In 2017 he quietly walked 50 bitcoin out of a confiscated Silk Road 2.0 wallet — that bag was worth about $79,250 back then. Now he's been ordered to hand back £1.8 million, roughly $2.38 million, because bitcoin's price did the heavy lifting for the prosecutors. He took the coins; the market took him.
▪️ Chowles was on the Silk Road 2.0 investigation with clearance to analyse and extract cryptocurrency from seized devices. That clearance was the entire exploit — nothing else was needed.
▪️ He pleaded guilty to theft, transferring criminal property and concealing criminal property. July 2025: five and a half years inside.
▪️ He tried to bury the trail in a complex chain of crypto transactions. Merseyside Police and the North West Regional Asset Recovery Team still traced the assets.
▪️ Cops recovered 30 of the 50 stolen bitcoin from him. The rest of the tab isn't the coins, it's the price: 50 BTC was pocket change in 2017 and a seven-figure clawback in 2025.
▪️ The NCA formally dismissed him on July 11, 2025. A compensation order routes the money squeezed out of him to the victim in the original Silk Road 2.0 case.
📊 Confiscation order:
£1.8M ($2.38M)📊 Bitcoin stolen:
50 BTC📊 Value at time of theft, 2017:
~$79,250📊 Recovered by investigators:
30 BTCTwo lessons here, and neither one is comforting. First: a seized cold wallet is exactly as safe as the human holding the keys — and this one was a cop. Second: if you're planning to lift coins, the bill gets marked to market at the price on the day they catch you, not the day you took them. 20 of those 50 bitcoin were never found, and he's still on the hook for the full £1.8 million. The CPS Proceeds of Crime Division says it has pulled over $700 million through confiscation orders in five years and handed $135 million+ back to victims — so this is a machine, not a one-off press release. Cops don't chase the coins, they chase the bag at today's price.
💬 «Paul Chowles exploited a position of trust for personal gain, stealing assets that had already been recovered through law enforcement action.» — Luke Clements, specialist prosecutor, CPS Proceeds of Crime Division
🔮
@xstable
🔥 Bitcoin fakeouts both ways on a dogshit jobs report — half a billion plus liquidated
Bitcoin tagged $87,000 today — first time it's sniffed that level since Sept 23 — then got absolutely bodied right back under $84,000 within hours. Both sides got farmed, and the house collected.
▪️ That $87,000 pump came straight off the macro data. Nothing about crypto changed — just a headline the algos could chew on.
▪️ $86,000-$87,200 spike landed instantly on the release. No hesitation, no pullback, just a vertical candle built for the bots.
▪️ $85,500 was the first crack — the spot where the bid quietly stopped showing up.
▪️ $84,000 broke minutes later, and everyone who chased the headline long was the exit liquidity.
▪️ $570-$600 million liquidated across crypto. Both directions, obviously — that's how these prints are designed to work.
▪️ $186 million of it hit inside one hour alone. One hour. That's not a market, that's a vacuum cleaner.
@xstable
Bitcoin tagged $87,000 today — first time it's sniffed that level since Sept 23 — then got absolutely bodied right back under $84,000 within hours. Both sides got farmed, and the house collected.
▪️ That $87,000 pump came straight off the macro data. Nothing about crypto changed — just a headline the algos could chew on.
▪️ $86,000-$87,200 spike landed instantly on the release. No hesitation, no pullback, just a vertical candle built for the bots.
▪️ $85,500 was the first crack — the spot where the bid quietly stopped showing up.
▪️ $84,000 broke minutes later, and everyone who chased the headline long was the exit liquidity.
▪️ $570-$600 million liquidated across crypto. Both directions, obviously — that's how these prints are designed to work.
▪️ $186 million of it hit inside one hour alone. One hour. That's not a market, that's a vacuum cleaner.
@xstable
🔪 They held a knife over a pregnant woman to drain one crypto wallet — and the mastermind was on FaceTime
December, Solihull, southeast of Birmingham. Four masked robbers kicked their way into a house and took hundreds of thousands of pounds in crypto from a couple — after threatening to stab his pregnant wife in the stomach and kill their unborn child. One of them wasn't even in the house: he ran the whole raid down a FaceTime call.
▪️ The husband — called James by the BBC — says he saw gloves and balaclavas come through the door first. He tried to fight them off and was beaten with hammers. Brave, but hammers beat hands every time.
▪️ His wife was pinned to the sofa while one attacker put a pillow over her face and suffocated her as she screamed that she couldn't breathe. Read that again: they weren't there for a debate.
▪️ James didn't get it until they demanded his phone — a fourth man on FaceTime was guiding them app by app: 'Show me everything on his phone.
▪️ They found a wallet with funds loaded on it and went straight to the threat: send it now or we stab your wife and kill your baby. No negotiation, no bluff, just the oldest 2FA in the book.
▪️ He sent hundreds of thousands of pounds' worth. Then he heard the man on the phone tell the crew inside they'd only be taking ten grand for themselves. The muscle gets crumbs; the brain gets the bag.
▪️ This is now an industry trend: Binance France president David Prinçay and Ledger co-founder David Balland have both been targeted this way. If you're publicly crypto-rich, you're publicly a target.
📊 Taken from James:
📊 Cut for the muscle inside:
📊 BTC sought in Mexico raid:
💬 «The door gets pushed open, I can see gloves coming in, balaclavas.» — James
🔮"Hundreds of thousands" but not one figure disclosed? Fine — but somebody already knew exactly how much was sitting on that phone. They always do.
@xstable
December, Solihull, southeast of Birmingham. Four masked robbers kicked their way into a house and took hundreds of thousands of pounds in crypto from a couple — after threatening to stab his pregnant wife in the stomach and kill their unborn child. One of them wasn't even in the house: he ran the whole raid down a FaceTime call.
▪️ The husband — called James by the BBC — says he saw gloves and balaclavas come through the door first. He tried to fight them off and was beaten with hammers. Brave, but hammers beat hands every time.
▪️ His wife was pinned to the sofa while one attacker put a pillow over her face and suffocated her as she screamed that she couldn't breathe. Read that again: they weren't there for a debate.
▪️ James didn't get it until they demanded his phone — a fourth man on FaceTime was guiding them app by app: 'Show me everything on his phone.
▪️ They found a wallet with funds loaded on it and went straight to the threat: send it now or we stab your wife and kill your baby. No negotiation, no bluff, just the oldest 2FA in the book.
▪️ He sent hundreds of thousands of pounds' worth. Then he heard the man on the phone tell the crew inside they'd only be taking ten grand for themselves. The muscle gets crumbs; the brain gets the bag.
▪️ This is now an industry trend: Binance France president David Prinçay and Ledger co-founder David Balland have both been targeted this way. If you're publicly crypto-rich, you're publicly a target.
📊 Taken from James:
$100K+📊 Cut for the muscle inside:
$10K📊 BTC sought in Mexico raid:
$1.5MLast month Jonathan Meléndez from Mexican band Camilo Séptimo and his pregnant wife were killed by people hunting a hardware wallet supposedly holding $1.5 million in bitcoin — acquaintances who knew about it. The pattern is boringly consistent: whoever knows you hold coins becomes your biggest liability long before any hacker does. A bull market means more headlines about fresh money printing new millionaires means more crews reading those headlines too. Your seed phrase isn't the weak point. Your mouth is.
💬 «The door gets pushed open, I can see gloves coming in, balaclavas.» — James
🔮
@xstable
📉 BTC bled under $84K while SAND ripped +79% — someone's morning is cooked
Bitcoin tagged $87,000 on a weak US jobs report — first time since Sept 23 — then got slapped straight back through $84K and dragged roughly $600 million of liquidations down with it. ETH slid to $2,674.65. And SAND is up 78.9% on $86M of volume. Because of course it is.
▪️ SAND +78.9% on $86M, NIGHT +24.9% on $22M, ENJ +16.5% on $24M — thin floats pump hardest right before they hand you the bag
▪️ Losers board: MOVR -26.1%, MARSCOIN -17.4%, PENGU -10.2%, FET -9.2%, PUMP -8.7% on $55M — that exit liquidity is already gone
▪️ Ex-UK National Crime Agency officer Paul Chowles ordered to repay ~$2.38M for stealing 50 BTC seized in the Silk Road 2.0 probe, plus laundering — the guy hunting the crooks was one of them
▪️ Masked crew forced into a UK home in December, put a knife to a pregnant woman and her unborn child, walked off with hundreds of thousands in crypto.
▪️ Majors down less than the alt board — so this was leverage getting cleaned out, not money rotating anywhere
@xstable
Bitcoin tagged $87,000 on a weak US jobs report — first time since Sept 23 — then got slapped straight back through $84K and dragged roughly $600 million of liquidations down with it. ETH slid to $2,674.65. And SAND is up 78.9% on $86M of volume. Because of course it is.
▪️ SAND +78.9% on $86M, NIGHT +24.9% on $22M, ENJ +16.5% on $24M — thin floats pump hardest right before they hand you the bag
▪️ Losers board: MOVR -26.1%, MARSCOIN -17.4%, PENGU -10.2%, FET -9.2%, PUMP -8.7% on $55M — that exit liquidity is already gone
▪️ Ex-UK National Crime Agency officer Paul Chowles ordered to repay ~$2.38M for stealing 50 BTC seized in the Silk Road 2.0 probe, plus laundering — the guy hunting the crooks was one of them
▪️ Masked crew forced into a UK home in December, put a knife to a pregnant woman and her unborn child, walked off with hundreds of thousands in crypto.
▪️ Majors down less than the alt board — so this was leverage getting cleaned out, not money rotating anywhere
@xstable
☕ BTC is comatose, small caps are on meth — morning digest
BTC parked at $84,834 (+0.31%), ETH at $2,693.44 (+0.68%) — majors are dead flat, and the news wire has zero major stories from the last 24 hours. So the whole tape today is small caps and thin order books, which is exactly where retail gets chopped to mincemeat.
▪️ STRK +23.3% on just $20M of volume. That’s not conviction, that’s two guys with a market order and a dream.
▪️ PUMP +18.0% ($36M) and ZRO +15.8% ($35M) tagging along, ONE +14.6% on $20M. Same movie: no real size behind any of it.
▪️ QNT +7.2% is the only green name with actual money in it — $65M, more than the rest of the green board combined.
▪️ Losers are a snooze: SAND -4.9% ($44M), UNI -1.4% ($40M), DOGE -0.4% ($26M). No capitulation, no liquidation cascade.
▪️ USDC printed $1.165B of volume while moving 0.0%. That’s rotation, not buying — somebody’s shuffling chairs, not adding risk.
▪️ No major stories in the last 24h. Nothing on the news wire explains these pumps, and that should worry you more than the pumps do.
📊 Fear & Greed:
📊 Yesterday:
🔮+23% on $20M and zero news. You’re not early, you’re the exit.
@xstable
BTC parked at $84,834 (+0.31%), ETH at $2,693.44 (+0.68%) — majors are dead flat, and the news wire has zero major stories from the last 24 hours. So the whole tape today is small caps and thin order books, which is exactly where retail gets chopped to mincemeat.
▪️ STRK +23.3% on just $20M of volume. That’s not conviction, that’s two guys with a market order and a dream.
▪️ PUMP +18.0% ($36M) and ZRO +15.8% ($35M) tagging along, ONE +14.6% on $20M. Same movie: no real size behind any of it.
▪️ QNT +7.2% is the only green name with actual money in it — $65M, more than the rest of the green board combined.
▪️ Losers are a snooze: SAND -4.9% ($44M), UNI -1.4% ($40M), DOGE -0.4% ($26M). No capitulation, no liquidation cascade.
▪️ USDC printed $1.165B of volume while moving 0.0%. That’s rotation, not buying — somebody’s shuffling chairs, not adding risk.
▪️ No major stories in the last 24h. Nothing on the news wire explains these pumps, and that should worry you more than the pumps do.
📊 Fear & Greed:
65 (Greed)📊 Yesterday:
67Greed is cooling — the gauge slipped a notch from yesterday, so the crowd is still long but conviction is leaking. Majors flat, small caps vertical, zero news to justify it: classic setup where retail buys the top from whoever loaded the bags last week. Watch QNT’s volume for the only signal with money in it, and treat the rest of the green board as exit liquidity you might end up being.
🔮
@xstable
💸 Andrew Tate just cashed out part of his near-20x hype bet
A wallet tied to Andrew Tate moved 20,950 hype tokens worth about .87 million onto Binance on Oct. Not a dust test, not a screenshot flex — a straight deposit to an exchange with exactly one obvious use: selling. The guy who built an entire audience on telling you to hold is quietly taking the other side of the trade.
▪️ Hype opened trading Nov. Which means he was already sitting on a near-20x before most of you even had the chart open.
▪️ The wallet flipped most of its hype into staked positions almost immediately. Stake it, farm it, look committed — while the rest parks on an exchange, ready to hit the bid.
▪️ It still shows about .
▪️ He kept trading anyway through this year. Every pump, every narrative, every 'this is the one' — and the bags kept moving.
▪️ That is literally every token he ever pushed. All of it on-chain, all of it pointing the same damn direction.
▪️ The exception was hype itself. Funny how the one coin he didn't torch is the one with his name stapled to the pump.
@xstable
A wallet tied to Andrew Tate moved 20,950 hype tokens worth about .87 million onto Binance on Oct. Not a dust test, not a screenshot flex — a straight deposit to an exchange with exactly one obvious use: selling. The guy who built an entire audience on telling you to hold is quietly taking the other side of the trade.
▪️ Hype opened trading Nov. Which means he was already sitting on a near-20x before most of you even had the chart open.
▪️ The wallet flipped most of its hype into staked positions almost immediately. Stake it, farm it, look committed — while the rest parks on an exchange, ready to hit the bid.
▪️ It still shows about .
▪️ He kept trading anyway through this year. Every pump, every narrative, every 'this is the one' — and the bags kept moving.
▪️ That is literally every token he ever pushed. All of it on-chain, all of it pointing the same damn direction.
▪️ The exception was hype itself. Funny how the one coin he didn't torch is the one with his name stapled to the pump.
@xstable
💀 $6M walked out of a Base vault — and suddenly nobody owns the thing
On Oct. 4 somebody strolled out of a vault on Base with over $6 million, and here's the punchline: no team, no protocol, no owner has come forward to say the vault was theirs. Blockaid clocked the drain at 09:21 UTC with $2.02M already gone — 40 minutes later the losses blew past $6M. Security firms traced about 1,783 wstETH out of a 3-of-7 Safe whose seven signers still don't have faces.
▪️ Some freshly created contract got whitelisted into the vault. That's the whole trick — no chain hack, no Aave core bug, just a door somebody was allowed to open.
▪️ Through that whitelist the attacker borrowed 1,783.067 aBaswstETH — Aave receipt tokens for wstETH deposited on Base — and shunted them into a contract he controlled.
▪️ Then he redeemed them through Aave on Base for roughly 1,783 wstETH. Exvul counted six separate outflows; Peckshield and Certik landed on the same tally.
▪️ Base itself wasn't hacked and Aave's core contracts aren't taking the blame. The drained vault is an Openzeppelin transparent proxy, and its owner is a Safe created about 324 days ago.
▪️ Vault 0xD1895f2019c2152FC2b9022D57f19198c4CFCABC, owner Safe 0x6b27512a5943Ed327f6cb6C3EC1f0398229f42C4 — a Safeproxy out of Safe Proxy Factory 1.4.1, per Basescan and Arkham.
▪️ Stolen keys, a whitehat, garbage permissions, some unknown weakness — nobody has confirmed which. Upgrade authority sits on a separate layer above that Safe, so the chain of control is longer than it…
📊 Already gone at 09:21 UTC:
📊 Traced out of the vault:
📊 Signatures required:
📊 Safe age:
🔮Seven addresses in plain sight, zero humans attached. Whoever owns this will surface the second the trace gets warm.
@xstable
On Oct. 4 somebody strolled out of a vault on Base with over $6 million, and here's the punchline: no team, no protocol, no owner has come forward to say the vault was theirs. Blockaid clocked the drain at 09:21 UTC with $2.02M already gone — 40 minutes later the losses blew past $6M. Security firms traced about 1,783 wstETH out of a 3-of-7 Safe whose seven signers still don't have faces.
▪️ Some freshly created contract got whitelisted into the vault. That's the whole trick — no chain hack, no Aave core bug, just a door somebody was allowed to open.
▪️ Through that whitelist the attacker borrowed 1,783.067 aBaswstETH — Aave receipt tokens for wstETH deposited on Base — and shunted them into a contract he controlled.
▪️ Then he redeemed them through Aave on Base for roughly 1,783 wstETH. Exvul counted six separate outflows; Peckshield and Certik landed on the same tally.
▪️ Base itself wasn't hacked and Aave's core contracts aren't taking the blame. The drained vault is an Openzeppelin transparent proxy, and its owner is a Safe created about 324 days ago.
▪️ Vault 0xD1895f2019c2152FC2b9022D57f19198c4CFCABC, owner Safe 0x6b27512a5943Ed327f6cb6C3EC1f0398229f42C4 — a Safeproxy out of Safe Proxy Factory 1.4.1, per Basescan and Arkham.
▪️ Stolen keys, a whitehat, garbage permissions, some unknown weakness — nobody has confirmed which. Upgrade authority sits on a separate layer above that Safe, so the chain of control is longer than it…
📊 Already gone at 09:21 UTC:
$2.02M📊 Traced out of the vault:
1,783 wstETH📊 Signatures required:
3 of 7📊 Safe age:
324 daysHere's what actually matters for you: a 3-of-7 Safe with anonymous signers isn't a multisig, it's a promise — and permission layers plus whitelists plus proxy owners are precisely the shape of the risk you're wearing if you're farming Base while parked on receipt-token collateral. Offloading 1,783 wstETH is enough size to lean on the peg, so watch for a wstETH discount the moment that stack starts moving. Nothing has been patched and nothing has been explained, because nobody has even confirmed what broke. The trace is sitting out there in the open — the humans behind it aren't.
🔮
@xstable
💀 Drift hack victims get their money back — 1 cent on the dollar, take it or cope
Six months after a North Korea-linked crew gutted Drift, the Solana perps DEX opened claims on Oct. 1 for DFX. The recovery pool started at $3.11 million against nearly $295.4 million in verified losses — redeem today and a verified $1,000 loss pays about $10.40. So take the penny, dump the token on the next guy, or sit tight and pray the big money actually shows up. Your call, but the math already made it for you.
▪️ Your claim is DFX: one token per verified USDT lost, supply capped forever at 299,500,810.998, redeemable at launch for 0.0104 USDT each.
▪️ Redemptions are final — no takebacks. You can also dump DFX on Raydium or hold it; the first Friday saw 216,480 DFX burned for about 2,250 USDT.
▪️ Tether pledged up to 127.5M USDT, partners another 20M, and Velocity (Drift, rebuilt) sweeps in daily net revenue. Its first sweep: 31 USDT. Thirty-one. Mark it.
▪️ The setup: a North Korea-linked crew spent months posing as a quant trading firm, then got Drift's Security Council to pre-sign transactions.
▪️ At ~16:05 UTC April 1 those signatures handed over admin control. They posted 500M of a junk token, CVT, priced near $1, and walked out with the real stuff.
▪️ Chainalysis: ~$285M gone — $159.3M JLP, $71.4M USDC — bridged to Ethereum in minutes. 130,259 ETH across four wallets, 23,094 ETH through Tornado Cash.
💬 «These figures illustrate the mechanics. They are not a projection or a promise.» — Drift claim portal documentation
🔮Pool only grows, supply only shrinks, they swear. Ask anyone who ever queued for a recovery token how that movie usually ends.
@xstable
Six months after a North Korea-linked crew gutted Drift, the Solana perps DEX opened claims on Oct. 1 for DFX. The recovery pool started at $3.11 million against nearly $295.4 million in verified losses — redeem today and a verified $1,000 loss pays about $10.40. So take the penny, dump the token on the next guy, or sit tight and pray the big money actually shows up. Your call, but the math already made it for you.
▪️ Your claim is DFX: one token per verified USDT lost, supply capped forever at 299,500,810.998, redeemable at launch for 0.0104 USDT each.
▪️ Redemptions are final — no takebacks. You can also dump DFX on Raydium or hold it; the first Friday saw 216,480 DFX burned for about 2,250 USDT.
▪️ Tether pledged up to 127.5M USDT, partners another 20M, and Velocity (Drift, rebuilt) sweeps in daily net revenue. Its first sweep: 31 USDT. Thirty-one. Mark it.
▪️ The setup: a North Korea-linked crew spent months posing as a quant trading firm, then got Drift's Security Council to pre-sign transactions.
▪️ At ~16:05 UTC April 1 those signatures handed over admin control. They posted 500M of a junk token, CVT, priced near $1, and walked out with the real stuff.
▪️ Chainalysis: ~$285M gone — $159.3M JLP, $71.4M USDC — bridged to Ethereum in minutes. 130,259 ETH across four wallets, 23,094 ETH through Tornado Cash.
What's left to claw back is roughly $9.2M frozen elsewhere plus whatever Bybit's bounty drags in — it pays 10% of assets actually recovered, so the hunters get fed before you do. Unclaimed DFX gets burned after Jan 1, 2028, and if 10% of supply redeems out, the survivors split future deposits roughly 11% fatter. The mechanics reward whoever can wait the longest. Just don't confuse Velocity revenue and Tether's pledge with cash in the pool — Drift's own docs don't.
💬 «These figures illustrate the mechanics. They are not a projection or a promise.» — Drift claim portal documentation
🔮
@xstable
😐 BTC does fuck-all, GTC rips +60%, and other people's money burns
Twenty-four hours of nothing on the majors: BTC +0.80%, ETH +0.22%. Every dollar that actually moved today moved in thin alt books — and in other people's wreckage.
▪️ GTC +59.9% on a majestic $25M of volume — that's a thin book getting shoved, not demand. MUBARAK +16.1%, FET +15.3% ($45M), STRK +10.7%, ADA +9.8% on $77M.
▪️ Red: SAND -5.8%, QNT -4.3% ($47M), WLD -3.7%, TAO -2.9%, AVAX -1.6%. No capitulation, just the alts quietly bleeding out.
▪️ Tate-linked wallet sent 20,950 HYPE ($1.87M) to Binance — a $550K bag from Nov 2024 that ran ~20x. Lost $727K on leverage, made ~$7M just holding — Lookonchain.
▪️ $6M drained from a Base vault on Oct. 4: 1,783 wstETH out, behind a 7-signer Safe nobody can name. Base wasn't hacked and Aave's core isn't catching blame.
▪️ Drift hack victims finally got paid six months after April's exploit: $295.4M in verified losses, a recovery pool of $3.11M — roughly 1 cent on the dollar.
📊 BTC:
📊 ETH:
🔮Two of today's three top stories are people cashing out, the third is a 1-cent payout. Guess which side of that trade you're on.
@xstable
Twenty-four hours of nothing on the majors: BTC +0.80%, ETH +0.22%. Every dollar that actually moved today moved in thin alt books — and in other people's wreckage.
▪️ GTC +59.9% on a majestic $25M of volume — that's a thin book getting shoved, not demand. MUBARAK +16.1%, FET +15.3% ($45M), STRK +10.7%, ADA +9.8% on $77M.
▪️ Red: SAND -5.8%, QNT -4.3% ($47M), WLD -3.7%, TAO -2.9%, AVAX -1.6%. No capitulation, just the alts quietly bleeding out.
▪️ Tate-linked wallet sent 20,950 HYPE ($1.87M) to Binance — a $550K bag from Nov 2024 that ran ~20x. Lost $727K on leverage, made ~$7M just holding — Lookonchain.
▪️ $6M drained from a Base vault on Oct. 4: 1,783 wstETH out, behind a 7-signer Safe nobody can name. Base wasn't hacked and Aave's core isn't catching blame.
▪️ Drift hack victims finally got paid six months after April's exploit: $295.4M in verified losses, a recovery pool of $3.11M — roughly 1 cent on the dollar.
📊 BTC:
$85,506.59📊 ETH:
$2,699.95Fear & Greed prints 70 (Greed), up from 65 yesterday — the exact zone where retail chases a thin pump and calls it a trend. Nothing's forced yet: flat majors mean no cascade, no liquidations. When something finally breaks, you get cents back and a six-month wait.
🔮
@xstable
🔄 Metaplanet sold 10,000 BTC, bought 11,000 back — and paid 9% for the dress rehearsal
Metaplanet, the Tokyo-listed bitcoin treasury company, sold 10,000 BTC for ¥124.7 billion (~$790 million) in Q3, parked the cash, then bought 11,000 BTC back for ¥149.9 billion. That leaves 44,000 BTC on the books as of Sept. 30 — and a round trip staged for exactly one audience: the credit rating agencies.
▪️ Step one: dump 10,000 coins and sit on ¥124.7B in cash — more than the ¥122.4B of net bonds, borrowings and other interest-bearing liabilities.
▪️ Step two: repay exactly zero. The debt stays outstanding on its original terms. This was a demo, not deleveraging.
▪️ Step three: rebuy 11,000 BTC at an average ¥13.63M after selling at ¥12.47M. That ~9% markup is what the proof cost.
▪️ Tax kicker: the coins left below cost, so the US disposal booked a capital loss and a preliminary, unaudited deferred tax asset of about $97 million.
▪️ The 'overseas peer' they cite in the filing and never name is Strategy — the only bitcoin treasury outfit with a published issuer credit rating.
▪️ New rules: BTC stays 85-90% of total assets, bitcoin borrowings under 10% of BTC NAV, new stock only above 1.0x mNAV.
📊 Net cost of 1,000 BTC:
📊 Holdings in Oct 2025:
📊 Strategy rating:
📊 Strategy BTC sold by Aug:
💬 «Rating agencies and credit investors ask one question of a Bitcoin company: can that Bitcoin be turned into cash to meet obligations, and will it be? We answered by doing it.» — Simon Gerovich, Metaplanet CEO
🔮They sold 10,000 coins to prove they'd sell coins. Remember that when the real margin call lands and you find out you're the exit liquidity.
@xstable
Metaplanet, the Tokyo-listed bitcoin treasury company, sold 10,000 BTC for ¥124.7 billion (~$790 million) in Q3, parked the cash, then bought 11,000 BTC back for ¥149.9 billion. That leaves 44,000 BTC on the books as of Sept. 30 — and a round trip staged for exactly one audience: the credit rating agencies.
▪️ Step one: dump 10,000 coins and sit on ¥124.7B in cash — more than the ¥122.4B of net bonds, borrowings and other interest-bearing liabilities.
▪️ Step two: repay exactly zero. The debt stays outstanding on its original terms. This was a demo, not deleveraging.
▪️ Step three: rebuy 11,000 BTC at an average ¥13.63M after selling at ¥12.47M. That ~9% markup is what the proof cost.
▪️ Tax kicker: the coins left below cost, so the US disposal booked a capital loss and a preliminary, unaudited deferred tax asset of about $97 million.
▪️ The 'overseas peer' they cite in the filing and never name is Strategy — the only bitcoin treasury outfit with a published issuer credit rating.
▪️ New rules: BTC stays 85-90% of total assets, bitcoin borrowings under 10% of BTC NAV, new stock only above 1.0x mNAV.
📊 Net cost of 1,000 BTC:
¥25.2B📊 Holdings in Oct 2025:
30,823 BTC📊 Strategy rating:
B- (S&P, Oct 2025)📊 Strategy BTC sold by Aug:
6,948 BTC (~$432.5M)Treasury stocks stopped performing for retail and started auditioning for bond desks. Land the rating, borrow cheap, buy more coins — your mNAV premium is the fuel. S&P's B- on Strategy flagged exactly this risk: a downturn forcing sales at depressed prices, and Metaplanet just volunteered to prove it will sell the moment obligations bite. Michael Saylor has already moved from 'never sells' to 'never a net seller'. Also in the mix: 2,100 BTC and $2.5M shifting from Super League Enterprise into Metaplanet's US platform, Superplanet.
💬 «Rating agencies and credit investors ask one question of a Bitcoin company: can that Bitcoin be turned into cash to meet obligations, and will it be? We answered by doing it.» — Simon Gerovich, Metaplanet CEO
🔮
@xstable
🐋 Bitmine slurped another $41M of ETH — 4.9% of every coin in existence now sits in one wallet
Tom Lee's Bitmine Immersion Technologies is still Hoovering Ethereum: another 15,112 ETH, about $41 million, in the week to Oct 4. The vault now reads 6,016,414 ETH — 4.9% of every coin in existence, and 99% of the way to what Lee calls the "Alchemy of 5%". Tally the cash, 214 BTC and the moonshot stakes and the book comes to $17.4 billion.
▪️ Smallest weekly buy since mid-August, and the trend points down: 15,112 ETH against 17,362 the week before and 9,926 in the week to Aug 16. The whale is losing its appetite — or its ammo.
▪️ The buy is funded out of a shrinking pile: cash and marketable securities fell to $643M, from $672M a week earlier and $714M on Sept 20.
▪️ Rest of the book: 214 BTC, a $180M stake in Beast Industries and $117M in Eightco Holdings (ORBS), the OpenAI-proxy trade they pitch in every deck.
▪️ Staking: 5,067,309 ETH, 84% of the whole stack, parked on MAVAN for ~$363M projected annual revenue — and that staked number hasn't moved in nine weekly updates. Nine.
▪️ Ethereum Towers ran the staking since March; that deal ended Sept 3 with no penalty, and its affiliate American Validator now advises MAVAN and takes 1.5% of the rewards. Fees never take a week off.
▪️ Buyback: 21M BMNR shares so far in 2026, ~$558M at $26.60, under a $4B authorization — yet six weekly filings from Aug 24 to Sept 28 reported zero repurchases. Zero.
📊 Circulating ETH supply:
📊 ETH vs S&P 500, 3Q26:
📊 ETH, last 3 months:
📊 BMNR vs ETH, first 9 months of 2026:
💬 «We believe that as crypto enters a cycle we view as a bull market, what is notable is Bitmine's share price outperformance of ETH during the bear market of 2025-2026.» — Tom Lee, Bitmine chairman
🔮6M ETH parked, 5M of it staked, cash bleeding to $643M. The Alchemy of 5% has one missing ingredient: your exit liquidity.
@xstable
Tom Lee's Bitmine Immersion Technologies is still Hoovering Ethereum: another 15,112 ETH, about $41 million, in the week to Oct 4. The vault now reads 6,016,414 ETH — 4.9% of every coin in existence, and 99% of the way to what Lee calls the "Alchemy of 5%". Tally the cash, 214 BTC and the moonshot stakes and the book comes to $17.4 billion.
▪️ Smallest weekly buy since mid-August, and the trend points down: 15,112 ETH against 17,362 the week before and 9,926 in the week to Aug 16. The whale is losing its appetite — or its ammo.
▪️ The buy is funded out of a shrinking pile: cash and marketable securities fell to $643M, from $672M a week earlier and $714M on Sept 20.
▪️ Rest of the book: 214 BTC, a $180M stake in Beast Industries and $117M in Eightco Holdings (ORBS), the OpenAI-proxy trade they pitch in every deck.
▪️ Staking: 5,067,309 ETH, 84% of the whole stack, parked on MAVAN for ~$363M projected annual revenue — and that staked number hasn't moved in nine weekly updates. Nine.
▪️ Ethereum Towers ran the staking since March; that deal ended Sept 3 with no penalty, and its affiliate American Validator now advises MAVAN and takes 1.5% of the rewards. Fees never take a week off.
▪️ Buyback: 21M BMNR shares so far in 2026, ~$558M at $26.60, under a $4B authorization — yet six weekly filings from Aug 24 to Sept 28 reported zero repurchases. Zero.
📊 Circulating ETH supply:
122.1M📊 ETH vs S&P 500, 3Q26:
+6,832 bp📊 ETH, last 3 months:
+51%📊 BMNR vs ETH, first 9 months of 2026:
-3% vs -10%Six million ETH is off the float and 84% of it is staked — that is the single biggest bid under ETH, and it is financed by printing and selling BMNR paper, not by earnings. The cadence just slipped to its smallest week since August while the cash line shrank from $714M to $643M in a month, so the only number that matters now is next Monday's filing. If the weekly buys stop, the largest ETH whale alive flips from permanent bid to permanent supply overhang — and every retail ETH long who read "institutional demand" is actually long Bitmine's balance sheet, with Tom Lee on the other side of the trade. That's the whole grift in one line: they sell paper to buy the coin you're holding, and you call it adoption.
💬 «We believe that as crypto enters a cycle we view as a bull market, what is notable is Bitmine's share price outperformance of ETH during the bear market of 2025-2026.» — Tom Lee, Bitmine chairman
🔮
@xstable
🩸 Strive torched $169M on 2,000 BTC — and paid for it with 13% IOUs
Strive, the Nasdaq-listed bitcoin treasury shop co-founded by Vivek Ramaswamy, grabbed 2,000 BTC between Sept. 28 and Oct. 2 at an average of $84,422 a coin — call it $169 million, its fattest haul in four months. Stack now sits at 29,462 BTC, about $2.5 billion at Monday's price. Nice number. Look at how it got paid for.
▪️ The cash didn't come from the business. It came from SATA, the preferred stock: $100 stated amount, ~13% a year, dividends paid every business day since June 16.
▪️ SATA was 70% of Strive's capital in the week ending Sept. 4 — and 85% in the week ending Sept. 25. That's not a side channel, that's the funding model now.
▪️ Bitcoin pays zero interest. So that 13% comes out of cash or out of the next raise. The filing lists no debt, which is the part they want you to screenshot.
▪️ Average cost was $90,170 a coin at the end of September, above Monday's ~$86,000 spot. The whole stack is under water on paper. Funny how that headline never trends.
▪️ Built by acquisition, not by conviction: Semler Scientific's ~5,000 BTC, deal approved in January for ~12,800 combined — then 14,557 by late April, 20,246 by mid-August.
▪️ Fifth among public holders, behind Strategy, Twenty One Capital, Metaplanet and MARA. Twenty One sits at 43,514 BTC — Strive is 14,052 coins short of the podium.
📊 Avg cost per BTC:
📊 SATA dividend:
📊 Cash on hand:
🔮Selling 13% paper to buy an asset that yields nothing. Works right up until the music stops — and the bag is SATA holders.
@xstable
Strive, the Nasdaq-listed bitcoin treasury shop co-founded by Vivek Ramaswamy, grabbed 2,000 BTC between Sept. 28 and Oct. 2 at an average of $84,422 a coin — call it $169 million, its fattest haul in four months. Stack now sits at 29,462 BTC, about $2.5 billion at Monday's price. Nice number. Look at how it got paid for.
▪️ The cash didn't come from the business. It came from SATA, the preferred stock: $100 stated amount, ~13% a year, dividends paid every business day since June 16.
▪️ SATA was 70% of Strive's capital in the week ending Sept. 4 — and 85% in the week ending Sept. 25. That's not a side channel, that's the funding model now.
▪️ Bitcoin pays zero interest. So that 13% comes out of cash or out of the next raise. The filing lists no debt, which is the part they want you to screenshot.
▪️ Average cost was $90,170 a coin at the end of September, above Monday's ~$86,000 spot. The whole stack is under water on paper. Funny how that headline never trends.
▪️ Built by acquisition, not by conviction: Semler Scientific's ~5,000 BTC, deal approved in January for ~12,800 combined — then 14,557 by late April, 20,246 by mid-August.
▪️ Fifth among public holders, behind Strategy, Twenty One Capital, Metaplanet and MARA. Twenty One sits at 43,514 BTC — Strive is 14,052 coins short of the podium.
📊 Avg cost per BTC:
$90,170📊 SATA dividend:
~13% a year📊 Cash on hand:
$284.7MIf you're in SATA for that 13%, take a long hard look at what you actually own: a claim on a company that's under water on its own stack. Every dividend gets paid from cash or from printing more SATA — and more SATA means dilution, plus more BTC that has to hit the market the moment this thing turns. Holdings are up 48% in dollar terms since July 2, and that was the market doing the work, not the strategy. The treasury-company trade is just leveraged BTC in a dividend wrapper, and right now the wrapper is the only piece still paying you. Classic.
🔮
@xstable
☕️ BTC dead at $85.7K, RLC rips 127%, Metaplanet flips 21K coins
BTC parked at $85,716 (+0.25%), ETH at $2,704 (+0.15%) — dead tape, nobody's selling. The only real action: RLC up 126.8% on $40M of volume, while Metaplanet round-tripped 21,000 of its own coins through cash to keep the rating agencies purring.
▪️ Movers worth a look: RLC +126.8% on $40M, then FIL +12.6% ($26M), ZRO +12.1% ($25M), MOVR +7.6% ($33M). One thin-volume rip and scraps.
▪️ Losers: PUMP -4.0%, FET -2.3%, UNI -1.7%, LINK -1.7%, SUI -1.7% — no capitulation, but SUI's $94M red candle is the heaviest dumping of the day.
▪️ Metaplanet sold 10,000 BTC for ¥124.7B ($790M) in Q3, parked the cash, then bought 11,000 BTC for ~¥150B — net +1,000 coins, treasury at 44,000 BTC.
▪️ Bitmine added 15,112 ETH in the week to Oct. 4: 6,016,414 ETH total, 4.9% of supply, 99% of its 'Alchemy of 5%' goal, booked at $2,726 per coin.
▪️ Strategy and BlackRock's IBIT now sit on 1.653M BTC worth $140.82B — almost 8% of the 21M supply ceiling in two sets of hands.
▪️ ZachXBT fronted $349,700 of his own money to get inside an alleged Lazarus Group laundering ring.
🔮Metaplanet just proved it can dump 10K coins and rebuy them inside a single quarter. So remind me what 'long-term conviction' is supposed to mean?
@xstable
BTC parked at $85,716 (+0.25%), ETH at $2,704 (+0.15%) — dead tape, nobody's selling. The only real action: RLC up 126.8% on $40M of volume, while Metaplanet round-tripped 21,000 of its own coins through cash to keep the rating agencies purring.
▪️ Movers worth a look: RLC +126.8% on $40M, then FIL +12.6% ($26M), ZRO +12.1% ($25M), MOVR +7.6% ($33M). One thin-volume rip and scraps.
▪️ Losers: PUMP -4.0%, FET -2.3%, UNI -1.7%, LINK -1.7%, SUI -1.7% — no capitulation, but SUI's $94M red candle is the heaviest dumping of the day.
▪️ Metaplanet sold 10,000 BTC for ¥124.7B ($790M) in Q3, parked the cash, then bought 11,000 BTC for ~¥150B — net +1,000 coins, treasury at 44,000 BTC.
▪️ Bitmine added 15,112 ETH in the week to Oct. 4: 6,016,414 ETH total, 4.9% of supply, 99% of its 'Alchemy of 5%' goal, booked at $2,726 per coin.
▪️ Strategy and BlackRock's IBIT now sit on 1.653M BTC worth $140.82B — almost 8% of the 21M supply ceiling in two sets of hands.
▪️ ZachXBT fronted $349,700 of his own money to get inside an alleged Lazarus Group laundering ring.
Greed at 73, up from 70, with BTC flat — nobody's scared, everybody's bored, and boredom is exactly what walks retail out the door when it finally breaks. RLC's +127% on $40M says the microcap chase is alive, and that's where today's exit liquidity gets minted. And Bitmine's 15,112 ETH was its smallest weekly buy since mid-August — the big bid is easing off the gas.
🔮
@xstable
😎 'Godfather' Adam Iza just got 78 months for the $37M Meta heist
Adam Iza — the guy who literally branded himself "The Godfather" — just got 78 months in federal prison for stealing more than $37 million from Meta. Not from some degen in a Telegram group. From Meta's own business-manager accounts and the credit lines attached to them. Judge Percy Anderson also ordered him to pay $23,402,766 in restitution.
▪️ The mechanism: Iza fraudulently got his hands on Meta business-manager accounts and the lines of credit attached to them, then pulled tens of millions through that access.
▪️ He pleaded guilty to three counts — wire fraud, conspiracy against rights, and tax evasion. That civil-rights charge is the part that turns this from a finance story into a nasty one.
▪️ Prosecutors say he paid off-duty Los Angeles County sheriff's deputies to run illegal searches and lean on people he saw as rivals or threats.
▪️ Meta was the mark, not a partner — its systems and credit facilities got exploited. Nobody at the company was in on it.
▪️ The crypto angle was pure costume: he sold the image of a wealthy digital-asset player, but the actual conviction is ordinary federal fraud, tax evasion and civil-rights violations.
▪️ Don't conflate the two numbers — $37M+ stolen, $23.4M restitution. That gap is money nobody is getting back.
📊 Sentence:
📊 Restitution ordered:
📊 Pleaded guilty to:
🔮Calling yourself "The Godfather" in a federal indictment is the one trade with guaranteed liquidation.
@xstable
Adam Iza — the guy who literally branded himself "The Godfather" — just got 78 months in federal prison for stealing more than $37 million from Meta. Not from some degen in a Telegram group. From Meta's own business-manager accounts and the credit lines attached to them. Judge Percy Anderson also ordered him to pay $23,402,766 in restitution.
▪️ The mechanism: Iza fraudulently got his hands on Meta business-manager accounts and the lines of credit attached to them, then pulled tens of millions through that access.
▪️ He pleaded guilty to three counts — wire fraud, conspiracy against rights, and tax evasion. That civil-rights charge is the part that turns this from a finance story into a nasty one.
▪️ Prosecutors say he paid off-duty Los Angeles County sheriff's deputies to run illegal searches and lean on people he saw as rivals or threats.
▪️ Meta was the mark, not a partner — its systems and credit facilities got exploited. Nobody at the company was in on it.
▪️ The crypto angle was pure costume: he sold the image of a wealthy digital-asset player, but the actual conviction is ordinary federal fraud, tax evasion and civil-rights violations.
▪️ Don't conflate the two numbers — $37M+ stolen, $23.4M restitution. That gap is money nobody is getting back.
📊 Sentence:
78 months📊 Restitution ordered:
$23,402,766📊 Pleaded guilty to:
3 countsThis isn't a rug pull or a hacked protocol — it's the reminder that the "crypto rich guy" flex is often a costume stretched over plain fraud, and the money usually isn't coming from tokens. If someone in your DMs is waving a Godfather nickname and a Lambo, ask who's actually footing the bill. And note the deputies: paying badge-carrying muscle to intimidate people is what turned a fraud case into a civil-rights case — that's how you turn 37 million stolen dollars into a prison term measured in years, not months.
🔮
@xstable
🐋 Abraxas-linked wallets are short $1.58B of BTC and ETH on Hyperliquid — and they're bleeding
Two Hyperliquid wallets that Nansen and Arkham tag as Abraxas Capital Management are carrying a combined $1.58 billion net short, and BTC plus ETH are the fattest part of the book. At 2:55 p.m. ET on Oct. 6, 2026 the pair was down about $114.5 million on paper — and still holding. The London firm behind them manages billions, so this isn't some degen who gets flushed on the next wick. Someone with real size is leaning against the tape, in public, where the whole chat can watch.
▪️ Hyperbot's X account flagged the two addresses on Monday; onchain explorers Nansen and Arkham label them Abraxas Capital Mgmt (Heka Funds).
▪️ The BTC and ETH legs alone: 5,120 BTC and 189,400 ETH, roughly $948 million notional, per hypurrscan.io data.
▪️ It's not a two-coin bet — the same wallets are short SOL, HYPE, ENA, XRP, SUI and PUMP. That's a whole-portfolio bearish tilt, not one punt.
▪️ Both addresses logged millions in deposits and hold spot that can offset the shorts, so the perp book alone isn't their net exposure.
▪️ Bitcoin twice tagged $86,000 on Tuesday, helped by the CFTC's proposed crypto rules and fresh SEC news — the tape is not cooperating with the short.
📊 Combined net short:
📊 BTC + ETH leg:
📊 Paper loss at snapshot:
📊 ETH short:
💬 «Spot holdings may offset these shorts, so the positions alone do not establish the wallets' net market exposure.» — Hyperbot
🔮A $114.5M paper hole and they keep holding. Either Abraxas knows something, or we're all reading a hedge like it's prophecy.
@xstable
Two Hyperliquid wallets that Nansen and Arkham tag as Abraxas Capital Management are carrying a combined $1.58 billion net short, and BTC plus ETH are the fattest part of the book. At 2:55 p.m. ET on Oct. 6, 2026 the pair was down about $114.5 million on paper — and still holding. The London firm behind them manages billions, so this isn't some degen who gets flushed on the next wick. Someone with real size is leaning against the tape, in public, where the whole chat can watch.
▪️ Hyperbot's X account flagged the two addresses on Monday; onchain explorers Nansen and Arkham label them Abraxas Capital Mgmt (Heka Funds).
▪️ The BTC and ETH legs alone: 5,120 BTC and 189,400 ETH, roughly $948 million notional, per hypurrscan.io data.
▪️ It's not a two-coin bet — the same wallets are short SOL, HYPE, ENA, XRP, SUI and PUMP. That's a whole-portfolio bearish tilt, not one punt.
▪️ Both addresses logged millions in deposits and hold spot that can offset the shorts, so the perp book alone isn't their net exposure.
▪️ Bitcoin twice tagged $86,000 on Tuesday, helped by the CFTC's proposed crypto rules and fresh SEC news — the tape is not cooperating with the short.
📊 Combined net short:
$1.58B📊 BTC + ETH leg:
~$948M📊 Paper loss at snapshot:
~$114.5M📊 ETH short:
189,400 ETHFor retail this is less a signal than a mirror: a whale book this visible drags crowd psychology around, and whales know exactly that — being this loud is itself part of the trade. It can just as easily be a hedge or provisioning for a multi-billion spot book as it is insider conviction, and nobody outside Abraxas can tell you which. What matters is the boxes: the positions stay open, they can flip fast, and if BTC keeps hammering $86,000 while ETH follows, that $114.5 million hole gets deeper and the crowd starts asking who's actually wrong. And when the crowd asks that question, the answer is usually whoever has more money to prove it.
💬 «Spot holdings may offset these shorts, so the positions alone do not establish the wallets' net market exposure.» — Hyperbot
🔮
@xstable
🚨 Uncle Sam moves $71M Bitcoin stash after six-week silence
Tuesday morning Washington finally touched its Bitcoin again — wallets tied to the US Marshals pushed out more than 830 BTC worth over $70 million, the first move since Aug. 26. And these aren't fresh seizures, kids: they're leftovers from two cold cases — the 2016 Bitfinex hack and Hashflare, the fake cloud-mining scam run by Sergei Potapenko and Ivan Turõgin.
▪️ On-chain analyst Sani caught it around 11 a.m. Eastern: a dust-sized test ping went to Coinbase Prime first, then a bigger leg into a brand-new wallet. Yeah, the oldest trick in the book.
▪️ The Bitfinex slice traces back to the breach where over 100,000 BTC walked out; feds later caught Ilya Lichtenstein and Heather Morgan and clawed most of it back.
▪️ Same hour, forfeited FTX wallets spat out tens-of-millions in BNB right after their own dust-test — different chain, identical playbook. Somebody's running a script.
▪️ The tail end carried coins tied to Potapenko-Turogin's Hashflare operation, which sold hashrate contracts for data centers stuffed with zero actual machines. Zero. Not one rack.
▪️ Everything landed at Coinbase Prime — already custodian for US Marshals 'Class 1' digital assets since Washington swapped open auctions for private custody deals.
📊 Still sitting on:
📊 That pile is worth:
📊 FTX-linked BNB moved:
💬 «Most likely a test transaction before sending all the remaining coins.» — 'Sani', on-chain analyst behind timechainindex.com
🔮'Test transfers are how you count your chips before cashing out. Who's buying, and does retail ever get told?'
@xstable
Tuesday morning Washington finally touched its Bitcoin again — wallets tied to the US Marshals pushed out more than 830 BTC worth over $70 million, the first move since Aug. 26. And these aren't fresh seizures, kids: they're leftovers from two cold cases — the 2016 Bitfinex hack and Hashflare, the fake cloud-mining scam run by Sergei Potapenko and Ivan Turõgin.
▪️ On-chain analyst Sani caught it around 11 a.m. Eastern: a dust-sized test ping went to Coinbase Prime first, then a bigger leg into a brand-new wallet. Yeah, the oldest trick in the book.
▪️ The Bitfinex slice traces back to the breach where over 100,000 BTC walked out; feds later caught Ilya Lichtenstein and Heather Morgan and clawed most of it back.
▪️ Same hour, forfeited FTX wallets spat out tens-of-millions in BNB right after their own dust-test — different chain, identical playbook. Somebody's running a script.
▪️ The tail end carried coins tied to Potapenko-Turogin's Hashflare operation, which sold hashrate contracts for data centers stuffed with zero actual machines. Zero. Not one rack.
▪️ Everything landed at Coinbase Prime — already custodian for US Marshals 'Class 1' digital assets since Washington swapped open auctions for private custody deals.
📊 Still sitting on:
+300K BTC📊 That pile is worth:
+$25B📊 FTX-linked BNB moved:
+$30MFor anyone trading size this matters less than crypto Twitter will pretend: a Coinbase Prime shuffle isn't an auction block and nobody announced squat about selling yet. The tell is timing — six weeks quiet, then three chains swept clean before lunch. That smells like bookkeeping ahead of something bigger, not a dump button. So don't let some account with a laser-eye avatar scare you into believing hundreds of thousands of coins hit the bids tomorrow. Watch the next dust test, not the timeline.
💬 «Most likely a test transaction before sending all the remaining coins.» — 'Sani', on-chain analyst behind timechainindex.com
🔮
@xstable
📉 Two wallets on Hyperliquid are holding a near-$1B short on BTC and ETH
Morning's red for everyone, and each of you is bleeding a little personally. Two wallets on Hyperliquid are short BTC and ETH for almost a billion combined. Not a named fund, not a desk you can call — two wallets. While you were averaging down on the dip and telling the chat "this is the bottom, bro," somebody quietly built the other side of your trade. Almost a billion against the whole room. Nobody puts on that size by accident, and nobody puts it on to lose.
@xstable
Morning's red for everyone, and each of you is bleeding a little personally. Two wallets on Hyperliquid are short BTC and ETH for almost a billion combined. Not a named fund, not a desk you can call — two wallets. While you were averaging down on the dip and telling the chat "this is the bottom, bro," somebody quietly built the other side of your trade. Almost a billion against the whole room. Nobody puts on that size by accident, and nobody puts it on to lose.
@xstable
🔥 Ethereum just cracked its floor — $1.135B of longs queued up for slaughter
ETH got smoked 15.19% in a day down to $12570 and finally ripped through the $12700 shelf that had been holding despite days of institutional selling. Now roughly $11.135 billion worth of leveraged long positions sit below price waiting to get liquidated, against just $1999.178 million's worth of shorts hanging above. That's the setup, and if you're long you're not early, you're the exit liquidity.
▪️ Nearest trigger first: about $1112.183 million's worth of Hyperliquid's Ethereum longs start blowing up near $12511 — yesterday at $12605.165 that gap was a comfortable 17.14%, today it's 13.16%,… so…
▪️ Before anyone even reached those big clusters, CoinGlass says $1233.136 million got liquidated across Ethereum over twenty-four hours — $1221.187 million, or around ninety-five percent, were fucking……
▪️ The twelve-hour window alone ate $1226.122 million, including $1216.111 million from leveraged bulls — plus crypto's single biggest casualty anywhere was one $126.164 million ETHUSDC position… one…
▪️ And people are STILL stacked bullish anyway, because why learn anything ever — Binance ETH USDT accounts show a three-point-three-two long-to-short ratio while OKX sits at two-point-one-three, with……
▪️ Funding flipped negative though — open-interest weighted rate minus zero-point-zero-zero-four-one percent, volume weighted minus zero-point-zero-zero-three-four percent — meaning shorts are paying……
▪️ Meanwhile US spot Ether ETFs bled roughly two hundred-and-two million dollars net on October sixth, their worst day since September sixteenth — sixth straight session underwater totalling about four……
📊 Longs exposed below price:
📊 Shorts vulnerable above:
📊 Hyperliquid long cluster:
📊 Total flushed last twenty-four hours:
🔮Everyone's calling this capitulation while retail keeps buying every dip with borrowed money again. Classic hive behavior. Honestly predictable. Losers stay losers until they do simple math.
@xstable
ETH got smoked 15.19% in a day down to $12570 and finally ripped through the $12700 shelf that had been holding despite days of institutional selling. Now roughly $11.135 billion worth of leveraged long positions sit below price waiting to get liquidated, against just $1999.178 million's worth of shorts hanging above. That's the setup, and if you're long you're not early, you're the exit liquidity.
▪️ Nearest trigger first: about $1112.183 million's worth of Hyperliquid's Ethereum longs start blowing up near $12511 — yesterday at $12605.165 that gap was a comfortable 17.14%, today it's 13.16%,… so…
▪️ Before anyone even reached those big clusters, CoinGlass says $1233.136 million got liquidated across Ethereum over twenty-four hours — $1221.187 million, or around ninety-five percent, were fucking……
▪️ The twelve-hour window alone ate $1226.122 million, including $1216.111 million from leveraged bulls — plus crypto's single biggest casualty anywhere was one $126.164 million ETHUSDC position… one…
▪️ And people are STILL stacked bullish anyway, because why learn anything ever — Binance ETH USDT accounts show a three-point-three-two long-to-short ratio while OKX sits at two-point-one-three, with……
▪️ Funding flipped negative though — open-interest weighted rate minus zero-point-zero-zero-four-one percent, volume weighted minus zero-point-zero-zero-three-four percent — meaning shorts are paying……
▪️ Meanwhile US spot Ether ETFs bled roughly two hundred-and-two million dollars net on October sixth, their worst day since September sixteenth — sixth straight session underwater totalling about four……
📊 Longs exposed below price:
$11.135B📊 Shorts vulnerable above:
$1999.178M📊 Hyperliquid long cluster:
$ 112. 83M near 2511📊 Total flushed last twenty-four hours:
$ 233. 36MIf you're holding leverage here you already know your number. The next layer below twenty-five hundred decides whether this cascade clears excess or finds fresh meat underneath, because positioning data shows bulls didn't actually leave after losing two-hundred-plus millions overnight anyway — those stubborn ratios are still elevated everywhere you look, even with every board bleeding red tonight. Folks, that's not capitulation, that's a trap with extra steps.
🔮
@xstable