SCS

Blockchain || Smart Contract || Portfolio || Cryptocurrency News, Research & Analysis. bitcoin, ETH & Solana news.

MY TWEETS ARE NOT FINANCIAL ADVICE.

[Solana @solana]

JUST IN: 65% of tokenized stock activity on Solana happens outside US market hours.

[SCS @SmartChainStack]

UNCX offered exploiters a 10% bounty to return 90% of the Vesting V2 funds after contacting addresses on-chain and via Blockscan.

A recovery email are live to secure any returned funds within 48 hours.

The team is working with SEAL_911 on a full report

[UNCX Lockers @UNCX_token]

UNCX Vesting V2 - Update

We have contacted two addresses directly on-chain, offering a 10% white-hat bounty in exchange for the return of the remaining 90% of the funds obtained through the exploit.

A third address has been contacted directly via Blockscan Chat, and we are coordinating with @SEAL_911 regarding another address currently holding funds.

We have established a dedicated recovery email address, [email protected], and a recovery multisig to facilitate the secure return of funds within the next 48 hours.

We are continuing to consolidate transaction data, assess the full impact, and verify figures before publishing a comprehensive incident report. We appreciate your patience as this process continues.

Please rely exclusively on this account for official, verified updates.

For parties holding affected funds, and to verify the authenticity of our on-chain recovery messages, our designated recovery multisig address is:

0x32f0eB068fD804195629A2CBEE30A7e9CE58c4cb

We will share further updates as verified information becomes ready to be published.

[CZ 🔶 BNB @cz_binance]

All hardware wallets must have see-through cases in the future. 🤷‍♂️

[SCS @SmartChainStack]

- Ledger found no tampering in inspected German retail and distributor stock.
- No European fund losses reported, unlike confirmed SE Asia CryptoBilis implants.

[Ledger @Ledger]

An update from @DonjonLedger regarding Germany 🔽

Following reports from one person in Germany, our team inspected devices from retail and distributor stock across the country, including units from the stores named. None showed any sign of tampering. No loss of funds related to implants has been reported anywhere in Europe.

We have not yet been able to examine the devices shown online. We invite their owner to send them to our security team so we can analyze them and share our findings.

[SCS @SmartChainStack]

Incredible!!

[Zensei @zensei]

just 8 days until Solana's Alpenglow upgrade goes live!

after 18 months of development, @anza_xyz is bringing alpenglow to solana mainnet-beta on october 21.

here's what changes:

- finality drops from ~12.8s to ~150ms, an ~85x improvement.
- finality latency reduced by ~98.8%.
- validator votes move offchain, freeing up blockspace.
- consensus migration happens in a single slot.

a major step toward near-instant settlement for payments, DeFi and onchain trading.

the countdown is on. ⏳

[SCS @SmartChainStack]

UNCX Vesting V2 Security Incident

The incident is isolated to Vesting V2 contracts on Ethereum, Base, BNB Chain, and Robinhood Chain (10 tokens affected). LP lockers and legacy vesting contracts remain secure.

Containment measures are in place. UNCX is coordinating with affected teams, law enforcement, and Seal911, with a full report and recovery plan forthcoming. Avoid trading in impacted pools. No funds recovered to date.

[UNCX Lockers @UNCX_token]

UNCX Vesting V2: Security Incident Update

Following the security incident affecting our Vesting V2 contracts across several chains earlier today, we want to share an update on the measures taken, the affected tokens, and what comes next.

1. Security measures and containment

We have implemented several measures to prevent further exploitation of the affected contracts:

> Introduced substantial flat fees exceeding 1,000 ETH per lock.
> Removed all clients and contract interactions that previously allowed these fees to be bypassed.
> Increased token fees to the maximum permitted by the Vesting V2 contracts (5%), making repeated vesting top-ups economically unviable.

These measures are designed to prevent further exploitation through the identified methods. While our investigation and monitoring remain ongoing, we firmly believe we have taken the necessary steps available to us to contain the incident.

2. Scope of the incident

As previously communicated, all LP lockers remain unaffected, across every protocol and chain supported by UNCX.

The incident is isolated to UNCX Vesting V2. Our legacy vesting contracts are also unaffected and have undergone additional checks and review.

The incident currently involves 10 tokens across 4 chains:

Ethereum (6): $pepecoin, $EDGEN, $ZC, $X, $LO0P, $PAAL

Base (1): $IMO

BNB Chain (1): $BTCLE

Robinhood Chain (2): $CASHCAT, $RKST

3. Next steps for affected projects and communities

We are already in contact with most of the affected teams, communities or individuals impacted.

We expect to share further guidance and next steps with affected teams this week.

We will also publish a comprehensive incident report covering the technical findings, financials, and the details of our proposed recovery plan.

Important: For all impacted tokens, we strongly advise against trading in the affected pools until further guidance is provided by the respective token teams. We will be coordinating directly with those teams over the coming days.

4. Investigation and recovery efforts

Our investigation remains active, and we are coordinating with law enforcement and @seal911.

To date, no funds have been returned by the attackers (primary and copycats) on any affected chain. We strongly encourage the responsible party to contact us directly to discuss a resolution.

We understand the seriousness of this incident for affected projects, holders, and communities.

Our immediate priorities remain preventing further exploitation, establishing the full extent of the impact, and working closely with affected teams toward a recovery plan.

We will continue to communicate when any meaningful updates become available.

Thank you for your patience.

The UNCX Team

[SCS @SmartChainStack]

Trezor is taking a preventive measure to enable stricter vetting of partners, with affected resellers' authorizations ending January 1, 2027.
In a letter from Trezor CCO Danny Sanders, thanks impacted partners for past contributions while apologizing for the business impact, allowing them to sell remaining stock through the holiday season.

[Trezor @Trezor]

Following recent supply-chain incidents, we decided to reduce the number of resellers so we can more effectively check those we work with.

Let us be very clear: there is not a single piece of evidence that Trezor devices have been compromised.

This is a preventive step, taken out of an abundance of caution. We also want to thank everyone involved for the cooperation, and for the years of work putting Trezor in people’s hands.

[SCS @SmartChainStack]

@coldstar_sol Keep building

[SCS @SmartChainStack]

@Spigg1115 Cz journey in life has taught him humility and patience.

[SCS @SmartChainStack]

Backpack: Armani Ferrante
describes Solana as an API for finance and parallel economy that imports traditional market structures like NYSE and NASDAQ trading, not limited to crypto-native assets.

[Solana @solana]

Armani Ferrante, CEO of @Backpack, on why Solana is becoming the aggregation layer for everything

“Solana has always been marching towards something much bigger than any single exchange. You could call it an API for all of finance, or a parallel economy and financial system. But I think the end state is Solana as the aggregation layer for everything."

"It’s all about importing market structure. Not just crypto-native assets, but the entire economy, because the network effect is money.”

@armaniferrante @KyleSamani

[SCS @SmartChainStack]

A 5-minute video tutorial showing hands-on steps to safely pry open a Ledger Nano X hardware wallet and inspect its internal circuit board for tampering.

[Bitcoin News @BitcoinNewsCom]

How to Safely Disassemble a Ledger Nano X and Check for Signs of Tampering

[Bitcoin News @BitcoinNewsCom]

Opening up a Ledger to make sure it hasn’t been tampered with 👀

[SCS @SmartChainStack]

Ledger confirms an unauthorized hardware implant in at least one device sold via Southeast Asian reseller CryptoBilis, linked to an investigation of $70M-$93M in reported wallet drains across hundreds of addresses on multiple blockchains.

[Ledger Support @Ledger_Support]

Situation Update: Ledger can confirm that one of the impacted users’ devices contained an unauthorized hardware implant. Ledger is reaching out to impacted users as part of the ongoing investigation. If you have information regarding the investigation, please reach out to Ledger’s bounty program: [email protected]. As a measure of precaution CryptoBilis confirmed it has ceased sales of all hardware wallet inventory until the investigation is concluded. Ledger is in active communication with CryptoBilis on next steps.

Ledger is working with the appropriate authorities to bring the bad actors to justice, and thanks @SEAL_911 for their collaborative support on the investigation. We have no indication that Ledger’s security infrastructure, systems or services have been compromised. As a reminder, Ledger recommends users who purchased a Ledger device from this reseller to not initiate set up if they have not yet done so. If you have set up your Ledger device, consider moving assets to a new Ledger signer (with a new seed).

Security is a constantly evolving landscape; Ledger is continuously adding security mitigations and is working on further, enhanced anti-tampering solutions.

Scammers often try to take advantage of incidents like this. Rely only on official Ledger channels for updates, and remember: Ledger will never ask for your 24-word recovery phrase.

For assistance or questions, contact Ledger customer support through our official channels: https://t.co/PeTo6Z7l84

[exsiway @exsiway_]

so about the $86m ledger drain. everyone’s screaming “ledger got hacked” again. i spent the evening digging and it’s dumber and scarier than that

there’s a shop in malaysia called cryptobilis that sells hardware wallets. ledger has it listed as an official authorized reseller since at least 2022, for malaysia, indonesia and the philippines. legit shop, real devices, years of normal customers

this spring the founders sell it. the deal comes with an NDA: they can’t tell anyone about the sale until october 19

by august the company registry shows one owner with 100%. some guy from heilongjiang, china

the shop keeps running like nothing happened. the site, the name and the “authorized by ledger” badge all stay up

then on oct 8 @MagicalTux posts photos of a ledger he cracked open. hidden under the screen there’s an extra little board with an LTE modem and an eSIM. it just watches the display. you set up your wallet, your 24 words show up, and they get sent out over mobile data. ledger’s genuine check doesn’t catch it because the actual ledger chip is real. his device came from malaysia

https://t.co/vRuBM0xIfR

that post does 120k views

22 hours later someone sweeps everything. 203 BTC hits two addresses in literally one block. ~$58m USDT moves on tron in the same hour. i added up all the wallets: ~$91m

about 7 hours after that ledger says “we’re investigating” and asks cryptobilis to pause sales

cryptobilis is still on ledger’s site as an authorized reseller

to be fair, nobody has officially tied the new owner to the bugged devices yet, and ledger hasn’t confirmed how it happened. but read it as a business plan:

get authorized, sell real stuff for years, quietly sell the company under an NDA, keep the badge, ship devices that phone home, then drain everything the second someone notices

and was ledger even told the shop got sold? nobody’s said so

“authorized reseller” means ledger trusted whoever ran the shop back in 2022. says nothing about who runs it today

bought your hardware wallet anywhere but the manufacturer? open it up today, ledger literally has a guide for that. then move to a fresh seed on a device bought direct

wonder who’s going to answer for this: the chinese frontman from heilongjiang, the shop’s previous owners, or ledger itself

@Ledger clearly needs to keep a much closer eye on who they call official resellers, and take way more responsibility for who sells their devices and how

[SCS @SmartChainStack]

Yes, the core technical claims are true and directly evidence-based from the verified USDT smart contract source code.

Comparisons:

USDC (Circle) has blacklist/freeze functions that block transfers but does not have an equivalent owner-callable destroy function that zeros a holder’s balance and reduces total supply in the same way. Freezes are reversible in principle via unblacklist; destruction + reissue is a Tether-specific feature.

Bitcoin has no issuer-controlled blacklist, freeze, or destroy functions of this kind.

[Heidi @blockchainchick]

TETHER CAN DELETE YOUR BALANCE. IT'S WRITTEN INTO THE CODE.

Not freeze it. Delete it.

The USDT contract has a function called destroyBlackFunds. It has been there since the 2017 Ethereum deployment.

Here is what it does, in order. It checks that your address is already blacklisted. It reads your balance into a variable the developers named "dirtyFunds". It sets your balance to zero. It subtracts that amount from total supply. Then it logs the event.

No function can reverse it. Once it runs, that balance is gone forever.

The blacklist function names the address it targets "_evilUser". That is how the code sees you before anyone has proven anything.

Only Tether's owner multisig can call it, on Ethereum and on Tron. A court can't. A regulator can't. When a government wants your money, Tether is the one that executes.

Then comes step two. Tether mints the same amount fresh to whoever it chooses: a victim, a court address, a government address. Net supply change is zero. Your money just changed owners.

The DOJ described this exact process in a forfeiture case filed in Massachusetts in March 2025, over roughly $9,016,612 in USDT. Burn, then reissue.

USDC can block a wallet but can't burn the balance. Tether built the eraser in from the start.

They keep promising you there will be no CBDC.

It already exists. It runs on Tron and Ethereum, and it has an owner.

Bitcoin doesn't. Exit with Bitcoin.

[Coin Bureau @coinbureau]

HOT TAKE: 🇨🇳China's return to crypto could UNLOCK the next crypto SUPER CYCLE.

Solana Company (DAT) CEO Joseph Chee says the Chinese government is using Hong Kong as a 'testing ground' for crypto regulation as China explores ways to manage digital assets.

“It's HUGE... I think crypto is gonna go through another super cycle.”

[Lookonchain @lookonchain]

Another unlucky guy!

His old wallet had been safe for 8 years.

But a month ago, after more than 4 years of inactivity, he switched to a new wallet.

Then the #CryptoBillis #Ledger Drainer stole all 59 $ETH ($146.8K) from it.

https://t.co/hsAgRhQFXr

[Ash Crypto @AshCrypto]

This is really sad.

Someone bought 80 BTC at $65,500 in Q2 and was up $1.44 MILLION as Bitcoin rallied.

Last month, he bought a Ledger to keep it safe. Today, his wallet got drained, and he lost everything.

Imagine losing it all while trying to protect it.

[Lookonchain @lookonchain]

Many #Ledger users who bought their devices from reseller CryptoBillis have had their funds stolen, with losses totaling nearly $90M.

Stay safe!🚨

One user (TY24Ya) bought a Ledger device from CryptoBillis 3 weeks ago and deposited 7M $USDT into it.

Just 10 hours ago, all 7M $USDT was stolen, possibly the largest loss among the victims.

https://t.co/VARjqxL2Tn