At 2:39 AM EST on October 23, Swell suspended deposits and withdrawals of swETH and rswETH to correct net asset value. On-chain data showed that at 4:48 PM, the contract reported swETH at approximately 1.203 ETH and rswETH at approximately 1.138 ETH, higher than the exchange rates of 1.133 and 1.082 as identified by Spreek; on the DEX, swETH was approximately 1.089 WETH and rswETH was approximately 1.029 WETH. Spreek stated that the administrator key was suspected of being compromised at 9:28 PM on October 21, and the attacker deployed a malicious contract that could extract approximately 2513 ETH. Phylax Systems founder Odysseus stated that it was an abuse of the BOT key. Railway disclosed that it did not authorize any third party or read customers' encrypted environment variables. Swell stated that the funds are safe.

In his TOKEN2049 speech, Flop Labs CEO Arthur Hayes stated that high FDV, low-circulation tokens no longer experience price surges after listing on Binance, and criticized the venture capital pre-sale model. He proposed Flop Labs' 100% fair launch plan, with no pre-sale or VC quotas, allowing users to earn FLOPs through testnet participation. The genesis airdrop will account for approximately 24.3% of the 10-year supply (approximately 4.4 billion/18.1 billion tokens), planned to launch in late October or early November 2026, with the mainnet genesis scheduled for Q1 2027. Flop Labs is personally funded by Arthur Hayes, and FLOPs are not yet traded.

This week, US spot Bitcoin ETFs saw a net inflow of $301.2 million, with BlackRock IBIT seeing a net inflow of $565.7 million, FBTC experiencing a net outflow of $116.6 million, BITB a net outflow of $18.5 million, ARKB a net outflow of $99.6 million, EZBC a net inflow of $7.3 million, MSBT a net inflow of $6.5 million, GBTC a net outflow of $51.8 million, and BTC a net inflow of $8.2 million.

Analyst Darkfost pointed out that the spot Bitcoin ETF recorded a net inflow of 5,183 BTC this week, turning the cumulative net inflow for 2026 into a positive one, with a cumulative net inflow of 10,784 BTC since January.

Italian financial police have dismantled an underground banking network linked to the Mafia, arresting 30 people. The organization issued €110 million in fraudulent invoices through shell companies, involving $123.45 million, and laundered $76.29 million through cryptocurrency exchanges. Authorities plan to seize €21 million in assets, and Spanish and Swiss police are assisting in the pursuit of related suspects.