Report: Rug Pull Incidents in the Crypto Space Have Decreased, but Their Impact Has Grown

According to Bitget market data, Hong Kong-listed storage concept stocks rose at the start of trading. Southern's 2x leveraged Samsung Electronics (07747.HK) gained over 18%, Southern East SK Hynix (07709.HK) climbed more than 14%, Longsys (09976.HK) and Montage Technology (06809.HK) jumped over 6%, and GigaDevice (03986.HK) increased more than 5%.

SK Hynix’s third-quarter operating profit reached a record high of 83.3 trillion won, exceeding the LSEG-consensus market forecast of 76.7 trillion won and marking 7.3 times the 11.4 trillion won posted in the same period last year. Quarterly revenue surged 328% year-over-year to 104.6 trillion won, as demand for AI infrastructure continues to drive up memory chip prices. The company plans to implement a total shareholder return program worth approximately 100 trillion won (around $754 billion) in 2026. According to its announcement, this includes at least 30 trillion won in cash dividends and a total of at least 60 trillion won in stock repurchases and cancellations, with the latter covering the 40 trillion won repurchase announced in August. The company stated that the 40 trillion won repurchase was completed last week, and the relevant shares will be canceled soon. On the supply-demand front, SK Hynix reaffirmed that it expects the memory chip market’s demand exceeding supply to persist until 2030. To enhance medium- and long-term demand visibility, the company has signed long-term supply agreements with 14 major clients. The locked-in supply volume currently accounts for over 50% of its total production capacity in 2027 and 2028, and it is also actively discussing with multiple clients to extend contracts that typically run for 5 years. According to data from the BIT stock platform, driven by the strong earnings report, SK Hynix’s share price rose 9.05%, while South Korea’s KOSPI index gained around 6.14% over the same period.

According to Yonhap News Agency, Bithumb, Mirae Asset Asset Management, and Daishin Securities have confirmed they were hacked, and South Korea’s Financial Supervisory Service (FSS) is investigating the incidents. Bithumb detected on October 27 that its internal mobile office collaboration system was accessed abnormally by unauthorized external parties, leading to a personal data leak. The company is currently analyzing the specific scope of the leak, including whether member information is involved. Daishin Securities announced on October 28 that personal and credit information of 38,490 customers was leaked. The FSS has dispatched an on-site inspection team to the firm and is further verifying cyberattacks on other relevant financial institutions. The FSS Governor stated: As AI is being used as a tool for cyberattacks, security vulnerabilities will be easier to exploit, and multiple simultaneous attacks will become more common. He urged financial institution boards to strengthen their IT security capabilities and prioritize protecting customer assets, information, and financial trust as core responsibilities.

On-chain analyst Ai Yi (@ai_9684xtpa) tracked that a PEPE whale has transferred tokens again after a year: address 0x2da…65e69 moved 1.45 trillion PEPE tokens to another wallet 0x803…1E213. The whale built a total position of 4.03 trillion PEPE tokens from May 2023 to August 2024, at an average cost of roughly $0.000001185 per token. Its current remaining holdings generate an unrealized profit of about $5.106 million, while its unrealized profit once peaked at $32.77 million at the end of 2024.

According to Bitget data, South Korea’s KOSPI index has extended its gains to 5.74%, with Samsung Electronics rising 8.45% and SK Hynix up 8.05%.

According to on-chain analyst Yu Jin’s monitoring, the ancient whale that participated in Ethereum’s ICO and subscribed 100,000 ETH has transferred all 5,000 ETH it moved two days ago into a crypto exchange three hours ago, valued at approximately $11.59 million. The whale’s total subscription cost back then was around $31,000; it sold 50,000 ETH in 2016 at $5.47 per unit. It still holds 45,000 ETH that has not been moved, worth roughly $105 million.