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$BTC just had a rough security night while everyone was busy watching $ZEC print new highs
I almost missed this one because my feed was all ZEC all night. But something bigger quietly happened. Liquid Network, the Bitcoin sidechain a bunch of exchanges use to settle trades faster, got drained of roughly 4,000 BTC. Around $320M gone from the federation wallet, routed out through SideSwap.
Confirmed so far. Blockstream says it is a software bug in their Elements code, not stolen keys, not a hardware breach. The bug let someone mint duplicate bitcoin on the sidechain. The network has paused all new transactions while the federation works on a fix.
Still fuzzy. Whoever did it is calling themselves white hats and saying they will send the funds back once a full patch lands. No timeline for that. No coins back in the wallet yet either. I would treat that promise as PR until it actually happens on chain.
And because apparently Bitcoin security wanted a full bad night, the Coldcard hacker from that earlier wave 3 wallet exploit moved another 97 BTC, about $7.7M, through THORChain and a couple of CoinJoin mixes. That is now 45% of the wave 3 haul on the move. Coinkite patched the firmware weeks ago, but if you were in that batch you still need a brand new seed. The patch alone does not fix a wallet that was already compromised.
None of this touches your exchange balance directly, both are sidechain and hardware wallet issues. But if you run anything on a Bitcoin sidechain or you are still on old Coldcard firmware, tonight is the night to go check, not tomorrow.
Meanwhile $ZEC just sits there at a fresh all time high like nothing is happening. Wild contrast for one Sunday night into Monday.
Will update once Liquid confirms whether the funds actually come back.
#ZECHitsANewAllTimeHigh #BitcoinETFsBiggestDailyInflowSinceJanuary #USAugustJobGrowthNearlyTriplesForecast #LululemonTumbles20%OnWeakGuidance
I almost missed this one because my feed was all ZEC all night. But something bigger quietly happened. Liquid Network, the Bitcoin sidechain a bunch of exchanges use to settle trades faster, got drained of roughly 4,000 BTC. Around $320M gone from the federation wallet, routed out through SideSwap.
Confirmed so far. Blockstream says it is a software bug in their Elements code, not stolen keys, not a hardware breach. The bug let someone mint duplicate bitcoin on the sidechain. The network has paused all new transactions while the federation works on a fix.
Still fuzzy. Whoever did it is calling themselves white hats and saying they will send the funds back once a full patch lands. No timeline for that. No coins back in the wallet yet either. I would treat that promise as PR until it actually happens on chain.
And because apparently Bitcoin security wanted a full bad night, the Coldcard hacker from that earlier wave 3 wallet exploit moved another 97 BTC, about $7.7M, through THORChain and a couple of CoinJoin mixes. That is now 45% of the wave 3 haul on the move. Coinkite patched the firmware weeks ago, but if you were in that batch you still need a brand new seed. The patch alone does not fix a wallet that was already compromised.
None of this touches your exchange balance directly, both are sidechain and hardware wallet issues. But if you run anything on a Bitcoin sidechain or you are still on old Coldcard firmware, tonight is the night to go check, not tomorrow.
Meanwhile $ZEC just sits there at a fresh all time high like nothing is happening. Wild contrast for one Sunday night into Monday.
Will update once Liquid confirms whether the funds actually come back.
#ZECHitsANewAllTimeHigh #BitcoinETFsBiggestDailyInflowSinceJanuary #USAugustJobGrowthNearlyTriplesForecast #LululemonTumbles20%OnWeakGuidance
$BTC and "September curse": What does the data say?
After rising nearly 25% in August — the month when US spot Bitcoin ETFs saw net inflows of $3.52 billion, the strongest since the beginning of 2026 — BTC is heading into September with a familiar question: will Bitcoin’s "worst month of the year" repeat?
Notable historical data: Since 2020, whenever August ends in the green, September that follows has always ended in the red — the two most recent times saw declines of roughly 7.3% and nearly 8%, respectively. That’s why the "September curse" becomes a yearly topic of discussion in the community.
But there’s an upstream detail that cuts the other way: the last three September periods, in fact, all closed higher, not lower as the "legend" claims. BTC’s reputation for being unlucky in September may no longer reflect current market dynamics.
A perspective from ETF flows: Right at the start of September, the market saw a notable net-outflow session, but just two sessions later, the flow reversed back to net inflows on a scale of hundreds of millions of dollars, led by major funds. This suggests that institutional demand hasn’t disappeared, even though the market remains cautious.
Key takeaway: The important short-term support zone lies around the area where BTC is currently trading. Losing this zone could trigger a deeper pullback; conversely, holding it together with ETF inflows turning positive again would be a signal that institutional buying pressure is prevailing over seasonal pressure.
After rising nearly 25% in August — the month when US spot Bitcoin ETFs saw net inflows of $3.52 billion, the strongest since the beginning of 2026 — BTC is heading into September with a familiar question: will Bitcoin’s "worst month of the year" repeat?
Notable historical data: Since 2020, whenever August ends in the green, September that follows has always ended in the red — the two most recent times saw declines of roughly 7.3% and nearly 8%, respectively. That’s why the "September curse" becomes a yearly topic of discussion in the community.
But there’s an upstream detail that cuts the other way: the last three September periods, in fact, all closed higher, not lower as the "legend" claims. BTC’s reputation for being unlucky in September may no longer reflect current market dynamics.
A perspective from ETF flows: Right at the start of September, the market saw a notable net-outflow session, but just two sessions later, the flow reversed back to net inflows on a scale of hundreds of millions of dollars, led by major funds. This suggests that institutional demand hasn’t disappeared, even though the market remains cautious.
Key takeaway: The important short-term support zone lies around the area where BTC is currently trading. Losing this zone could trigger a deeper pullback; conversely, holding it together with ETF inflows turning positive again would be a signal that institutional buying pressure is prevailing over seasonal pressure.
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