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Evening wrap · October 24, 2026

Crypto Exploits Expose Bridges, X100 Drained for $4.85M

Multi-million dollar exploits highlight cross-chain security flaws, as US Middle East evacuations push $BTC below $80,000.

  1. 1

    Crypto Exploits Expose Vulnerabilities in Speed and Cross-Chain Security

    Blockaid analysis found attackers moved funds in a median of 17 minutes across 50 exploits in 2026 [1]. Initia and Qubic halted their networks after structural flaws in seed generation and MoveVM enabled multi-million dollar drains [1].

  2. 2

    X100 Attacker Drains $4.85M in USDT Following Governance Takeover

    An attacker drained 4.85 million $USDT from the X100 protocol on Oct. 24 following a governance takeover [1]. The exploiter converted treasury tokens and liquidity positions across two transactions [1].

  3. 3

    Bitcoin Drops Below $80,000 as Middle East Tensions Prompt US Evacuations

    Bitcoin slipped beneath $80,000 to a multi-week low [1]. The decline aligned with the US evacuating diplomatic and military staff across the Middle East amid reports of Iranian attack threats [1].

  4. 4

    Apex Group CEO Says US Crypto Delays Give Asia and Middle East Regulatory Edge

    Apex Group CEO Peter Hughes said legislative stagnation following the Clarity Act's failure will push institutional crypto to Bermuda and the Gulf [1]. The US Senate failed to advance the bill in September [1].

  5. 5

    Strategy and Strive Face Capital Strain as Preferred Stock Dividends Weigh on Bitcoin Purchases

    Corporate treasuries have funded 135,979 bitcoin purchases using perpetual preferred stock since 2025, per Fidelity Digital Assets [1]. Strategy recently repurchased $193 million of its STRC preferred shares while adding 267 bitcoin [1].

Numbers

Bitcoin is trading at $80,278, ether is at $2,336, and the total market cap fell 2.2% to $2.65 trillion.

Watch

Initia's post-mortem and Qubic Computors recovery vote. · Fund movements from the X100 attacker addresses.

Full text

Multi-million dollar exploits highlight cross-chain security flaws, as US Middle East evacuations push $BTC below $80,000.

  1. Crypto Exploits Expose Vulnerabilities in Speed and Cross-Chain Security Blockaid analysis found attackers moved funds in a median of 17 minutes across 50 exploits in 2026. Initia and Qubic halted their networks after structural flaws in seed generation and MoveVM enabled multi-million dollar drains.

  2. X100 Attacker Drains $4.85M in USDT Following Governance Takeover An attacker drained 4.85 million $USDT from the X100 protocol on Oct. 24 following a governance takeover. The exploiter converted treasury tokens and liquidity positions across two transactions.

  3. Bitcoin Drops Below $80,000 as Middle East Tensions Prompt US Evacuations Bitcoin slipped beneath $80,000 to a multi-week low. The decline aligned with the US evacuating diplomatic and military staff across the Middle East amid reports of Iranian attack threats.

  4. Apex Group CEO Says US Crypto Delays Give Asia and Middle East Regulatory Edge Apex Group CEO Peter Hughes said legislative stagnation following the Clarity Act's failure will push institutional crypto to Bermuda and the Gulf. The US Senate failed to advance the bill in September.

  5. Strategy and Strive Face Capital Strain as Preferred Stock Dividends Weigh on Bitcoin Purchases Corporate treasuries have funded 135,979 bitcoin purchases using perpetual preferred stock since 2025, per Fidelity Digital Assets. Strategy recently repurchased $193 million of its STRC preferred shares while adding 267 bitcoin.

Numbers Bitcoin is trading at $80,278, ether is at $2,336, and the total market cap fell 2.2% to $2.65 trillion.

Watch

  • Initia's post-mortem and Qubic Computors recovery vote.
  • Fund movements from the X100 attacker addresses.

Basis Desk Newsroom · AI-generated, source-verified. Built only from stories already verified and published on Basis Desk; market figures as of publication. Not financial advice.