Morning Minute: NEAR Intents Hacked for $3.8M - Was It A Bullish Hack?

Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. And check out our daily news show FOMO HOUR covering all of the top stories and market action.  GM!  Todays top news:Crypto majors rally 3-4% as oil and bonds cool; BTC at $86,400SEC proposes rules letting advisors and funds hold crypto directlyETH Foundation launches zkAPI for private AIPump leads onchain protocols again with $2.6MThe 7-Trait CryptoPunk sells for $5.9M in landmark sale on Gondi  BitcoinBTC · USD  $84,212+0.23%  24H7D1M1YYTD  Sep 25Sep 27Sep 29Oct 1Oct 2  $86.8k$85.4k$84.0k$82.7k  24h HighHigh$87,086  24h LowLow$84,473  VolVol$2.2B  Market projectionsOdds by Myriad  This week$84,000 to $86,000$84k–$86k52% chance  →  Buy Bitcoin with USDT  Powered by Jupiter  $50$100$500  Buy  Price data by CoinGeckoCoinGeckoMore Bitcoin news and projections →  ???? NEAR Intents Hacked for $3.8M—Was It A Bullish Hack?  NEAR Intents shut down briefly on Thursday after an attacker took about $3.8 million.  The flaw sat in the layer that moves money in and out, and how it talked to the main contract holding user funds. ZachXBT traced the stolen money to KuCoin, where it was converted to bitcoin. The team reported it to law enforcement and says a full report is coming.  If you arent familiar with Near Intents, the tool lets you swap crypto

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XRP Outperforms Ethereum at October ETF Start

XRP has started off October on a strong note as its ETFs have recorded a decent influx of fresh capital on October 1, after their performances fell flat at the close of the last month.  While momentum appears to be building again in the XRP ecosystem, latest data from SosoValue shows that XRP saw a fresh influx of capital while Ethereum only saw investors withdraw their funds as the new month began.  XRP flips Ethereum  According to the data, XRP ETFs attracted about $4.07 million in net inflow during their daily trading session on October 1, while Ethereum ETFs posted a net outflow of $55.37 million on the same day.  As such, the data shows a major divergence between the performances of both assets, revealing that XRP ETFs outperformed Ethereum ETFs by about $59.44 million in daily flows at the start of the new month.  While XRP ETFs also recorded $25.87 million in total trading volume on the same day, it signals renewed interest in the asset after their performance slowed in the past week, drawing attention from market analysts.  Franklin takes dominance from Bitwise  Although XRP performed better than Ethereum during their latest trading session, the amount of capital pulled in by XRP funds was pretty

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South Korea's Crypto Market Is Getting Older, Quieter, and Smaller

South Koreas crypto market is getting older, quieter, and smaller, according to a half-yearly survey released on October 1 by the Korea Financial Intelligence Unit (KoFIU) and the Financial Supervisory Service.   Users in their 40s are now the largest age group, daily trading volume fell 44%, and the value of crypto on domestic exchanges shrank by a third in the first half of 2026.  Sponsored  Sponsored  Crypto assets on those exchanges also posted a 69% maximum drawdown, higher than KOSPI‘s 55.1% and KOSDAQ’s 31.8% over the same period. The survey covered 26 registered virtual asset service providers.  Koreas Crypto Market Lost a Third of Its Value  The market capitalization of crypto listed on domestic exchanges fell 33% to 58.9 trillion won, according to the KoFIU survey. That left the market 28.3 trillion won smaller than in the second half of 2025.  Trading activity fell further than valuations, with average daily volume down 44% to 3.1 trillion won. Won deposits held on exchanges dropped 35% to 5.2 trillion won over the same period.  “Both KRW-based exchange service providers and coin-only exchange service providers saw drops in average daily trading volume,” the results showed.  KoFIU measures maximum drawdown as the difference between the highest and lowest price, divided by the

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You Could Video Chat With an AI and Never Know It. 26 of 54 People Didn't

Tavus Griffin AI convinced 26 of 54 people on live video calls that they had talked to a real human. The firm is keeping the model away from customers for that exact reason.  Tavus calls the model the first to pass the video Turing test. Its previous system, tested the same way, fooled 1 of 41 participants.  Sponsored  Sponsored  What Let Griffin Talk Its Way Past 26 Strangers?  Tavus co-founder and CEO Hassaan Raza argued that people communicate as much through expression, tone, and timing as through words. Machines, by his account, make users adapt with the right command, click, or prompt.  His pitch is a computer that reads tone and expression the way another person would, and even looks like one.  Follow us on X to get the latest news as it happens  Introducing Griffin, the first model to pass the video Turing test.  48% of people who talked to it live thought it was a real human. Previous systems have had a pass rate3%. It is #1 on NVIDIAs benchmark for full-duplex AI video.  Its the first Human Interaction Model (HIM). pic.twitter.com/eb11XbC8Xr  — Tavus (@tavus) October 1, 2026  Tavus contrasts Griffin with cascade systems, where speech recognition, a language model, and voice synthesis take turns. Such systems hold their reply

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Can Solana price hit $130 after Forward Industries buys...

Forward Industries has increased its SOL and SOL-equivalent holdings by 948,601 tokens during fiscal Q4, taking its total to 8.501 million as of Sept. 30, 2026.  SummaryForward Industries added nearly 949,000 SOL, lifting total holdings to 8.501 million during fiscal Q4.The company valued its SOL treasury at $1.004 billion using a September 30 price reference.SOL per fully diluted share rose 10.4% quarter-over-quarter to 0.0806, according to Forward Industries update.Forward closed a $25 million stock offering in September, with proceeds intended partly for SOL.Solana traded near $122 on October 2, up roughly 4% over the previous 24 hours.  Forward Industries said the 13% quarterly increase came from a combination of SOL purchases and staking, with the newly added tokens carrying an average cost of $83. Its holdings rose from 7.553 million at the end of June to 8.501 million at the end of September.  The company said the position represented roughly 1.4% of Solana‘s circulating supply. Its definition of SOL holdings includes native SOL, fwdSOL and pledged SOL while excluding borrowed tokens. Forward’s treasury dashboard continues to show 8,501,298 SOL and equivalents as of Sept. 30.  You might also like:  Solana chosen for Fiservs new bank stablecoin platform  Forward Industries SOL holdings reached 8.5 million  At a reference

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Cboe wants to turn VIX into a never-ending trade

In contrast, perpetual swaps never expire. Instead, they use a funding rate mechanism to anchor the contract price to the spot index, theoretically offering investors the closest possible proxy to trading the actual VIX spot price.  “Traders dont have to worry about expiries and decay and just focus on the direction of where they think the underlying is heading. The VIX is one of many more indexes, assets and metrics that will be perpified. We expect to see a strong wave of perp-ification to occur in the coming months,” Martin Lee, market insights lead at DWF Labs, told CoinDesk.  Some crypto exchanges like Gate already offer VIX/USDT perps, but the market is highly illiquid with little noticeable volume. Recently Hyperliquid listed futures tied to bitcoins VIX – Volmexs bitcoin implied volatility index.  A potential launch of VIX futures could bring more traders to volatility markets. More buyers and sellers and more hedging by market makers across VIX futures and other S&P 500 derivatives could pull the various VIX products into closer agreement.  However, costs still exist in the form of funding payments. Also the index is really just mathematical calculation and doesnt exist like bitcoin, which creates a channelge for market makers, who cannot

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US Designates Russia's A7 Network as Transnational Criminal Organization

In briefOFAC has designated the A7 Network a transnational criminal organization, and FinCEN has proposed barring U.S. institutions from any transfer involving its front companies.The proposed rule covers convertible virtual currency, not just fiat.FinCEN says more than 180 entities moved at least $179.1 billion in A7s ruble-backed A7A5 token between February 2025 and June 2026.  The U.S. Treasury has moved against the A7 Network, a Russian shadow banking operation it says Iran and the Islamic Revolutionary Guard Corps have used to evade sanctions, with a proposed rule that would cut its front companies off from American finance, including in crypto.  The Office of Foreign Assets Control designated the network a significant transnational criminal organization on Thursday, listing it with addresses in Russia, Kyrgyzstan, Nigeria and Zimbabwe. The Financial Crimes Enforcement Network separately proposed prohibiting transfers involving what it calls the networks Sub-Agents, the companies it uses to make sanctioned payments look like ordinary trade.  Today, Treasury took unprecedented action against the A7 Network, a shadow banking network with ties to Russia used by the Iranian regime to evade sanctions as part of Operation Economic Outcast.  Treasurys @FinCENnews proposed a rule that would prohibit transmittals of funds…  — Treasury Department (@USTreasury) October 1, 2026  FinCEN is acting

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THORChain launches Zcash pool, trading comes next

THORChain has launched its Zcash (ZEC) liquidity pool on Oct. 2 after the network completed a node churn, with all nodes now monitoring Zcash and trading set as the next step.  SummaryTHORChain has launched its ZEC liquidity pool after completing a network churn across active nodes.Every THORChain node is now monitoring Zcash while native ZEC trading remains the next step.THORChain warned liquidity remains shallow and urged traders to use caution during early ZEC trading.THORChain added Zcash UTXO handling, RPC logic and ZEC oracle support through 2026 protocol upgrades.Bitget-linked wallets swapped roughly $6.3 million in ETH for Bitcoin through THORChain after Septembers breach.  THORChain said the churn had completed and every node was watching the Zcash chain, while trading would follow after the pool launch. The protocol described the venue as permissionless and cautioned users that liquidity remained shallow during the opening stage.  The $ZEC pool is now live on THORChain.  The network churned and every node is watching the Zcash chain. @Zcash now has a truly permissionless venue.   Trading is the next step. Liquidity is shallow for now and will grow over time, so trade with caution in the early days. pic.twitter.com/sVEj0K4xNQ  — THORChain (@THORChain) October 2, 2026  THORChain ZEC pool is live before native trading  The

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US targets $17 billion Russia-linked crypto payment network using USDT as an escape route

The US sanctioned the Russia-linked A7 Network and proposed new restrictions to cut its crypto intermediaries off from global markets.  Related Asset Tether USDT · Stablecoin  On Oct. 1, the Treasury Department designated A7 as a significant transnational criminal organization, extending blocking sanctions beyond individual companies previously targeted by Washington to the broader payment network. FinCEN simultaneously proposed barring covered financial institutions from transmitting funds involving identified A7 sub-agents.  The measures target a shadow-payment system Treasury says has helped Russian sanctioned entities, Irans central bank and Islamic Revolutionary Guard Corps, and other illicit actors move money through companies designed to make restricted transactions resemble ordinary commercial payments.  FinCEN said A7 sub-agents processed more than $17 billion in dollar-denominated transactions between January 2025 and June 2026. Treasury separately said the network claimed in January to be handling more than 2,000 transactions a day worth the equivalent of $91.5 billion, or about 13% of Russias 2025 foreign trade.  The designation gives financial firms an immediate compliance obligation where US sanctions jurisdiction applies. Property and interests in property belonging to blocked persons must be frozen and reported to the Office of Foreign Assets Control, including entities owned 50% or more by sanctioned parties.  Washington targets A7s route into liquid

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SMBC Nikko plans Japan DeFi gateway with Uniswap

SMBC Nikko Securities and Nethermind have signed an MoU with Uniswap Labs, Base and Nyx Foundation to build a Japan-focused DeFi Gateway targeted for completion by mid-2027.  SummarySMBC Nikko and Nethermind signed an MoU with Uniswap Labs, Base and Nyx Foundation Thursday.Mid-2027 is the target for completing Japans planned DeFi Gateway project, according to the partners.Uniswap v4 hooks will be used to add AML, counterterrorism financing and investor protection controls.Base will support deployment and x402 integration, while Nethermind leads engineering, AI and smart-contract security.Project progress will be shared with Japans FSA, but no live product has launched yet.  SMBC Nikko said on Oct. 2 that the five organizations will develop a liquidity-provisioning protocol and custom pools intended to give Japanese investors a controlled route into decentralized finance. The announcement describes the work as a development project and does not say Japans Financial Services Agency has approved a product for public use.  The project expands work SMBC Nikko and Nethermind announced in March. Their earlier research focused on connecting Japanese investors with automated market makers while testing risk controls, user safeguards and AI tools. The October MoU brings Uniswap Labs, Base and Nyx Foundation into the project with defined technical roles.  Uniswap v4 hooks for

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