KIMCHI’s market cap surged to $14 million before plummeting over 95%, with multiple linked wallets reaping more than $385,000 in profits.

Restaking protocol Swell announced in a statement that, to further secure its infrastructure, the team is collaborating with security partners and Seal911, and has suspended deposit and withdrawal functions for swETH and rswETH. Swell added that the next step to resume normal operations is adjusting its net asset value (NAV) to the correct level, after which access to deposits and withdrawals will be reactivated. The team emphasized that all funds are currently secure, and it is proceeding with caution to ensure a safe restoration of services. Additionally, Swell reminded users to stay vigilant and only follow information released through official channels, noting that phishing attacks may increase during such incidents.

Dongcha Beating AI News Flash: Regarding DeepSeek’s full open-sourcing of its internally used AI inference framework DeepInfer, 360 founder Zhou Hongyi stated today that this move represents "not only technological confidence, but also the concept of open-source inclusiveness." Digging deeper, it signals the technological sovereignty in the AI era. He also disclosed that 360 has developed a sovereign AI operating system, which has been put into use in some government and enterprise units. (Source: Securities Times)

Beating AI News Flash: NVIDIA and investment firm TCV have made an additional investment in AI video company Higgsfield as part of its August Series B round. Back in August, Higgsfield raised $400 million at a $5.4 billion valuation, more than quadrupling its value since the start of the year. No details on the latest investment amount or valuation were disclosed. Higgsfield not only develops its own video models but also integrates around 35 third-party models including Kling, Veo, and Sora into a unified platform. Users can complete the entire workflow from storyboarding, character design to voiceover and final production without switching between tools. Founder Alex Mashrabov previously revealed that over 40% of the platform’s workflows use models automatically selected by the system. Profit margins vary drastically across models: gross margins exceed 80% for in-house or open-weight models, while they stand at just 20%–30% when accessing third-party closed-source models. Higgsfield has over 40 million registered users. The company announced in September that its annualized revenue exceeded $1 billion, growing roughly 20-fold year-over-year. The share of subscription revenue has fallen from over 90% to just above 60%, with pay-as-you-go revenue accounting for an increasing proportion.

Bridgewater Associates' China business unit has informed investors that its bullish stance on gold has softened. The Shanghai-based hedge fund stated in a September investor letter that it has gradually cut its previously over-allocated gold positions. The moves are driven by two factors: rising interest rates have boosted the opportunity cost of holding gold, while surging oil prices have curbed demand from energy-importing countries such as India.

According to monitoring by Onchain Lens, a Bitcoin whale recently transferred more than 5,099 BTC, with a total value of around $415 million. Of that amount, 949.7 BTC (worth approximately $77.55 million) was moved into Binance and Deribit, likely for sale or other trading operations. Another roughly 4,150 BTC (about $337.7 million) was transferred to the whale’s self-custody wallet, which had previously sent funds to crypto exchanges.

According to PeckShield monitoring, the address identified as the Cysic (CYS) attacker has deposited 300 ETH (worth approximately $721,100) and 30.4 BNB (worth about $22,600) into Tornado Cash, totaling roughly $743,700. Earlier, the Cysic Foundation announced that on October 17, its cross-chain bridge suffered a security incident, during which the attacker unauthorized minted 10 million CYS on BNB Chain. The specific connection between this fund transfer to Tornado Cash and its subsequent flow remains to be further confirmed.