Ledger has halted sales by its Southeast Asia reseller CryptoBilis after wallets belonging to customers who bought devices through that channel were drained of an estimated $72 million to nearly $90 million.

The hardware wallet maker said it is investigating the losses and has asked CryptoBilis to pause all sales and shipments of Ledger devices pending the outcome. Ledger advised users who purchased from the reseller in the past 90 days not to set up unused devices, and to move assets to a new Ledger device with a new seed phrase if their device is already in use. It said it would keep customers informed as the investigation progresses.

On-chain estimates of the losses differ. The analyst Specter traced ten collection addresses and counted inflows from hundreds of victim wallets across Ethereum, TRON and Bitcoin, putting total losses above $86 million as the count was still rising. The analyst tanuki42 put the figure above $72 million, and MistTrack estimated almost $90 million. Ledger has confirmed no dollar amount.

CryptoBilis claims to be the authorized reseller of Ledger products in Malaysia and sells devices in Indonesia, Malaysia and the Philippines. It has not responded to a request for comment.

The suspected mechanism is supply-chain tampering rather than a flaw in Ledger’s software. Binance founder Changpeng Zhao said the available information points to a supply chain attack at a single vendor, with a small number of people likely having bought fake or tampered devices. Security researcher Taylor Monahan, for her part, insisted there is no zero-day in Ledger products and warned that hasty fund-moving exposes users to phishing risk greater than the incident itself.

Some stolen funds have already moved. On-chain tracking shows the suspected attacker has laundered about 430 ETH, worth roughly $1.07 million, through the mixer Tornado Cash, and Arkham-tracked wallets linked to the thefts still hold about $70.6 million. Tether has frozen USDT on addresses tied to the thefts, after which the attacker began swapping USDT into USDD, a Tron-based stablecoin Tether cannot freeze.

Ledger declined further comment. Its investigation is ongoing.

XRP Ledger developers have defended the emergency security patch used to fix a bug capable of creating XRP beyond the network’s fixed supply, saying they could not wait for the network’s usual two-week validator vote without exposing the flaw to attackers.

The fix, released on Sept. 25, came three days after a bug bounty report, and took effect immediately on any server that installed it. It was the first deliberate bypass of the normal amendment process since the system was introduced more than ten years ago, they said. 

“With a normal amendment vote, the fix would have been public for weeks before it took effect, risking network security,” XRPL developers said in an X post on Sunday. 

The expedited fix led to questions about XRPL’s level of decentralization. On its website, XRPL claims it is a fully decentralized, public blockchain — a characterization that has been central to arguments that its native token, XRP, is not a security. 

XRPL security fix “raised a lot of questions”

Cyber Capital founder Justin Bons said Thursday that marketing XRP to retail investors as decentralized amounted to “straight-up fraud.” He argued that the Sept. 25 emergency release shipped as binaries only, temporarily withheld the source code and pressured operators to upgrade. 

However, XRPL Foundation said the decision to skip the normal amendment process was made jointly by the Foundation, RippleX, core developers and validators after assessing the severity of the bug.

“No single party could make that call alone. Every validator and node operator chooses what software to run, and 3.4.1 only became required through a normal amendment vote with more than 80% validator support for two weeks. Protocol changes still go through amendments,” the foundation said. 

Related: Ledger confirms unauthorized hardware implant, says losses may exceed $86M

XRP Kuwait, an independent validator operator, also rejected claims that the coordinated upgrades signaled centralized control. 

“We disagree with the claim that operators coordinating an update is, in itself, proof of centralized control,” it said. “Coordination is not the same as control. Independent operators can assess a situation, communicate with one another, and reach the same conclusion without giving up their independence.”

Bug could have minted unlimited XRP 

The bug was an integer overflow in the XRP Ledger’s payment engine that had been present since 2015, according to the project’s vulnerability disclosure report. 

XRP balances are stored as 64-bit integers with a fixed maximum. When a sum exceeded that maximum, the calculation wrapped to a smaller number instead of failing. 

An attacker could exploit this by creating hundreds of specially priced offers, each asking for a very large amount of XRP, then sending one payment that consumed them all.

The engine would credit each offer owner their full amount but charge the buyer only the tiny wrapped total. The difference would be newly created, spendable XRP.

The attack required deliberately constructed offers and could not be triggered by normal trading activity, according to the report. Developers said they found no evidence that the issue was exploited on any public network. 

Magazine: Ledger attack spreads to EU, AI finds ’18 trillion XRP’ bug: Hodler’s Digest

MicroStrategy’s corporate Bitcoin strategy is back in focus after Strategy’s chair, Michael Saylor, posted a tease to investors about a possible near-term signal tied to the company’s latest BTC purchases. Writing on X, Saylor added the line “There’s always room for more orange,” a reference that has become shorthand for the firm’s continued willingness to add Bitcoin.

Still, for readers expecting a fresh, formal update through U.S. SEC filings, timing may be tight. An official disclosure related to the most recent activity is not expected to arrive before Tuesday because federal offices are closed on Monday for the Columbus Day holiday.

Key takeaways

• Strategy says it has pushed its most recent weekly Bitcoin buying far past its typical budget window through early October repurchases.
• According to an Oct. 5 SEC 8-K, Strategy ended the Sept. 28–Oct. 4 period holding exactly 848,000 BTC.
• Over the same dates, the company also repurchased about 1.77 million shares of its STRC preferred stock for $176.3 million.
• Analyst Shanaka Anslem Perera highlights that capital raised in the third quarter does not automatically translate into immediate BTC purchases, due to other uses such as cash reserves and preferred-share buybacks.

What Strategy disclosed in its latest SEC filing

At the center of this update is a filing that lays out Strategy’s activity across a defined one-week span. In an Oct. 5 8-K form with the U.S. Securities and Exchange Commission, the company reported that it bought 334 Bitcoin between Sept. 28 and Oct. 4, paying $28.7 million for the purchases. The buy adds to Strategy’s cumulative holdings, taking the company to exactly 848,000 BTC.

That same 8-K window also included a substantial preferred equity repurchase. Strategy said it repurchased roughly 1.77 million shares of its STRC preferred stock for $176.3 million during the same period.

For investors, the practical takeaway is that Strategy’s BTC program is not operating in isolation. The company is simultaneously managing its capital structure, including actions that reduce preferred-share exposure. That matters because it can affect how much cash remains available for later Bitcoin buys and how capital providers view near-term risk versus balance-sheet strengthening.

Saylor’s “orange” message and what investors may read into it

Saylor’s X post frames the next step as something investors should watch for on Sunday—suggesting there may be another sign of BTC accumulation. The phrasing, however, appears more like a broad encouragement than a specific update tied to a particular filing.

With Monday’s federal holiday likely to delay administrative timing, the market’s ability to confirm details through SEC channels may not improve until Tuesday. In other words, traders who rely on filings for verification may have to bridge the gap between public commentary and formal documentation.

In previous cycles, this kind of messaging can still move sentiment around whether additional buying is coming. But as Strategy’s disclosures show, the company’s real confirmation typically arrives through SEC paperwork, not social posts.

Why “cash now, buy later” remains a live question

Beyond the immediate Bitcoin figure, analysts are weighing how Strategy financed its recent actions and what that implies for future pace. Independent analyst Shanaka Anslem Perera pointed to third-quarter funding and how it translated into BTC holdings over time.

According to Perera, Strategy raised $5.41 billion from new common shares in the third quarter and ended that quarter with 1,666 more BTC than it held at the end of June. He also notes that Strategy’s SEC disclosures allocate 9.5% of the raised capital directly to bitcoin purchases. Other disclosed uses, Perera wrote, include a dollar reserve, cash, dividends, and preferred-share buybacks.

Perera’s central argument is that the relationship between raising capital and buying Bitcoin may not be one-to-one on a day-to-day or even quarter-to-quarter basis. In an interview carried by Cointelegraph on Sunday, he explained that “raising capital does not necessarily mean buying bitcoin,” emphasizing that investors should consider what the financing left behind—particularly cash and existing claims such as debt and preferred shares, which sit ahead of common stock.

At the same time, he clarified that the company’s retained cash can still fund later purchases. From a balance-sheet perspective, strengthening liquidity can also be supportive for shareholders, especially if it reduces pressure to sell assets or rely on external borrowing to sustain Bitcoin accumulation.

Bitcoin buy intensity versus capital structure management

The recent window highlighted in Strategy’s SEC filing suggests an active BTC posture, but it also illustrates how tightly the Bitcoin narrative is interwoven with other corporate moves. The company “ended September by spending more than six times its weekly Bitcoin buying budget,” according to the coverage context leading into the SEC disclosure. In that period, the firm bought 334 BTC for $28.7 million—bringing total holdings to 848,000 BTC.

Meanwhile, Strategy repurchased a large quantity of preferred stock for $176.3 million during the same week. That dual activity complicates simplistic interpretations. Instead of viewing Bitcoin buys as the only variable, investors also have to watch how Management allocates cash across different priorities: accumulating Bitcoin, building reserves, and addressing preferred equity.

This dynamic creates a useful lens for readers tracking Strategy. If BTC buying appears to slow while preferred repurchases or cash retention rises, it may reflect not a change in conviction, but a timing shift in how capital is deployed. Conversely, if BTC buys accelerate without corresponding reductions in liquidity, that may indicate the company is comfortable drawing down reserves or drawing from ongoing capital needs.

Perera’s remarks underscore this tension: even when disclosures show a portion of raised capital earmarked for Bitcoin, the rest may support other uses that don’t immediately show up as BTC purchases. That is why investors may want to focus not only on headlines about “more room for orange,” but on how each SEC filing breaks down timing and allocation.

Looking ahead, readers should watch for the next SEC update that confirms what Strategy actually executed in the days following Saylor’s message. The uncertainty is not whether the company remains committed to Bitcoin—recent filings and ongoing commentary point the other way—but rather the pace and sequencing of purchases relative to preferred buybacks and the remaining cash balance. With Tuesday’s filing timing likely to be the first clear checkpoint after the Columbus Day closure, the market may get fresh data soon enough to separate speculation from documented activity.

On-chain data indicates exactly one year ago today, the cryptocurrency market experienced an epic crash, recording approximately $19.2 billion in market-wide single-day liquidations, wiping out over 1.65 million investors, and setting the most brutal single-day liquidation record in history, comparable to the 2020 “312” black swan event. It is worth remembering not because of hype, but because understanding what happened helps UK traders prepare for future volatility.

The Scale of the Crash

Bitcoin had peaked at around $125,000 prior to the crash, falling to a daily low of $102,000 with a single-day drop exceeding 13%; Ethereum declined by 22% in a single day, while SOL dropped by as much as 37%.

Where Has the Market Been Since?

Exactly one year later today, BTC is trading at approximately $82,679, representing a cumulative drawdown of roughly 34% from its peak at that time.

The broader picture:

What This Means for UK Traders Today

The October 11 crash reflected a complex mix of factors: overbought conditions after a strong rally, macro headwinds, and the mechanics of leveraged trading that amplified losses as liquidations cascaded through exchanges. But the core lesson is simple: cryptocurrency markets remain volatile, and sharp drops are a structural reality of the market.

Key takeaways for UK retail traders:

1. Volatility is real. A 13% single-day drop in Bitcoin and 22-37% moves in major altcoins show why only invest what you can afford to lose entirely.
2. Liquidations hurt. Over 1.65 million investors were wiped out in a single day, most of them using margin and derivatives. If you use leverage, understand your liquidation price in advance and size positions accordingly.
3. Exchange choice matters. Thin liquidity on smaller platforms means your actual exit price could be far worse than the live price you see in news. Trade on well-capitalized, regulated exchanges.
4. Recovery is slow. One year on, the market is still 34% below the October 2025 peak. If you believe in long-term crypto value, plan accordingly.

Caution remains warranted. UK traders should focus on building a portfolio strategy around volatility rather than trying to time the market.

What to Watch Now

Rather than trying to predict the next crash, UK traders should focus on:

• Your own portfolio size and leverage.
• Whether your exchange is FCA-regulated (important for UK consumer protection).
• Your exit strategy, not your entry.
• Whether your holding period matches your investment horizon.

The October 11 crash is a reminder that cryptocurrency markets remain young and volatile. Understanding that risk—and building a portfolio strategy around it—matters more than trying to time the market.

Justin Sun, founder of the Tron network, said that the company’s post-quantum cryptography was now live on testnet.
“We’re closely tracking progress in quantum computing and AI, and we’re ready to bring quantum resistance to mainnet at any time, Sun said in a post on X on Saturday.

He added, “We’re committed to keeping user assets secure, and TRON is set to be one of the few major blockchains that is quantum-resistant before Q-Day,” or the day when quantum computing becomes capable of breaking current security standards.

Coindesk reported on July 28 that Blockchain security company AmericanFortress had unveiled a cryptographic plan to protect crypto wallets from future quantum attacks without requiring users to move funds, rotate keys or change wallet addresses.

Unlike most proposed post-quantum approaches, AmericanFortress said it allows existing wallet addresses to remain unchanged while adding post-quantum protection.

Proposal published in technical paper

The company published the proposal in a technical paper on the Cryptography ePrint Archive, though it had not yet been peer-reviewed.

Developers have increasingly focused on post-quantum cryptography because sufficiently powerful quantum computers may eventually break the elliptic-curve cryptography used to secure Bitcoin, Ethereum and many other blockchain networks

Earlier this year, a Strategy-led consortium pledged $15 million to fund Bitcoin quantum security research, the Ethereum Foundation published a proposal for migrating accounts to quantum-resistant cryptography and Algorand outlined plans to introduce quantum-resistant accounts by 2027.

Magazine: SHRINCS BIP published: Quantum-secure Bitcoin comes with a catch

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.

J.P. Morgan Asset Management is making a bullish call on an underinvested market group: high-quality fixed income.

Priya Misra, a portfolio manager at the firm, sees a once in a generation opportunity for investors.

“You can actually take credit risk in the highest quality companies and still get [a] 6.5% [yield], Misra told CNBC’s “ETF Edge” this week. “So, you actually don’t have to go down in credit [quality].”

She suggested the strategy is particularly well suited for investors concerned about having too much exposure to artificial intelligence stocks.

“There’s a huge AI exposure,” Misra said. “What fixed income gives you is this diversified set of returns. It’s not just an AI trade or a tech trade. You have the Treasury trade. You have credit outside of AI.”

Misra co-manages the JPMorgan Core Plus Bond Fund ETF (JCPB). The fund has almost $16 billion in assets under management, with just over three-quarters of its holdings in BBB-rated debt and above, according to the firm’s website as of Aug. 31.

“We’ve actually been increasing some of the double-B [and] single-B exposure because there has been a widening in high yield spread,” she said. “We like some investment grade. And now, we’ve started in the last few days to increase some duration as well, thinking we may be nearing the end of that rate move.”

The JPMorgan Core Plus Bond Fund ETF is down more than 5% so far this year as of Friday’s close, according to FactSet.

“You want to be looking bond by bond and sort of sector by sector to see where the macro and you have to do the bottom up as well to make sure that companies are not over levered,” noted Misra, who’s concerned about how higher rates could hurt the housing market.

BondBloxx co-founder Joanna Gallegos is also advising investors to take advantage of “historically attractive” yields across debt markets.

“You want to really consider getting some corporate debt into your portfolio,” Gallegos said in the same interview. “It’s really in the investor’s best interest to start looking at the income that’s back in fixed income. It can offset the volatility in your portfolio.”

Part of her bull case: Base rates are high, and they’re stable.

“The fundamentals of these corporations are so strong, and the economy continues to grow,” added Gallegos. “We really think that’s being lost in the narrative around Treasury rates.”

Her firm BondBloxx is known for fixed-income exchange-traded funds in sectors including Treasury, corporate, private credit and emerging markets.

One of its funds includes the BondBloxx Private Credit CLO ETF (PCMM). As of Friday’s close, it’s down 0.6% so far this year, according to FactSet.

The United States Disciplinary Barracks, where Nidal Malik Hasan is being held on death row, is seen in Fort Leavenworth. Hasan, the U.S. Army Major who was convicted of killing 13 people and wounding 32 others during a mass shooting at Fort Hood in 2009, has been approved by President Donald Trump for execution by military firing squad.

Daily active addresses averaged about 322,000 in the latest week, down 31% from mid-September, suggesting fewer people, and fewer of the trading bots they run, are using the chain each day.

The drop is likely smaller in human terms than the raw number implies, since one trader can run many addresses and a single automated program can account for thousands of transactions.

Less trading, steady balances

Spot exchanges, where users buy and sell tokens directly, handled $7.45 billion during Oct. 2–8, down 21% from $9.46 billion the week before, according to CoinDesk calculations using DefiLlama. Uniswap, an app that lets people swap tokens with each other without a company in the middle, handled roughly 77% of that.

Users aren’t pulling their money out, though. Deposits in the chain’s lending and trading apps rose about 2% over the week to $1.04 billion, and the supply of stablecoins, tokens pegged to the dollar, ticked up to roughly $1.10 billion.

That suggests the pile of money is simply being traded less, with traders keeping their funds on Robinhood Chain and waiting.

Futures are the exception, however. DefiLlama’s rolling seven-day figures on Friday showed about $7.35 billion in perpetual futures volume, contracts that let traders bet on prices without owning the tokens, up 26%.

Key takeaways

• Dogecoin traded near $0.085 on Friday after losing more than 11% this week.
• Two large-wallet cohorts reduced their combined holdings by 100 million DOGE since Tuesday.
• A close below $0.084 could expose $0.078 and $0.070, with resistance beginning at $0.086.

Dogecoin traded around $0.085 on Friday, approaching a key trendline area after a weekly decline of more than 11%.

Falling balances among some large holders and weakening technical momentum suggest continued downside pressure. 

However, derivatives positioning offers a more mixed picture, with long positions outnumbering shorts in CoinGlass’ tracked ratio.

Large Dogecoin holders reduce exposure

Santiment’s supply distribution data shows that wallets holding between 1 million and 10 million DOGE and those holding between 10 million and 100 million DOGE have collectively reduced their balances by 100 million tokens since Tuesday.

The decline suggests some large holders are reducing exposure, potentially through profit-taking. Wallet balance changes alone do not confirm that every token was sold, but the movement adds to concerns about near-term supply pressure.

CryptoQuant’s summary indicators also point to caution. Its data identifies overheating conditions in both spot and futures markets, alongside large orders and sell-side dominance in futures.

These signals suggest that selling pressure remains significant as DOGE approaches nearby support.

Despite the price decline, CoinGlass’ DOGE long-to-short ratio stood at 0.90 on Friday, approaching its highest level in more than a month.

A reading above one indicates that longs outnumber shorts within the positions or accounts tracked by the metric.

Funding rates also remained positive at 0.0010%, meaning long traders were paying short traders to maintain their positions.

Together, the readings suggest some traders are positioning for a recovery. They do not establish that buying demand is strong enough to reverse the decline, particularly while price momentum remains weak.

DOGE tests $0.084 as momentum deteriorates

Dogecoin is trading just above the trendline area near $0.084, which serves as the immediate technical support reference.

A daily close below that level could open the way toward $0.078. A deeper correction would bring the next structural floor at $0.070 into focus.

The Relative Strength Index sits near 40, below its neutral midpoint and consistent with weaker buying momentum.

The Moving Average Convergence Divergence line remains below both zero and its signal line. Its negative, slightly expanding histogram also suggests sellers retain the near-term advantage.

DOGE remains beneath several important exponential moving averages, creating successive barriers to a rebound.

The first resistance is the 100-day EMA near $0.086. Above it, the 50-day EMA and a horizontal resistance level converge around $0.088.

Clearing those levels would help ease immediate bearish pressure. A stronger recovery would require a move above the 200-day EMA at $0.093, followed by a challenge of major resistance near $0.102.

For now, the balance between support at $0.084 and the moving averages overhead will help determine whether DOGE stabilizes or extends its weekly losses.