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Today in crypto, several developments unfolded. NEAR Intents has recovered USD 3.8 million stolen in a security breach, while Blast has announced plans to shut down its Ethereum layer-2 network.
In other developments, community banks sued the OCC over crypto trust charters, Bitcoin slipped after briefly reaching USD 87,000, and U.S. spot Bitcoin ETFs began October with net inflows.
NEAR Intents general manager Alex Shevchenko confirmed on Friday that the service had recovered the full amount stolen during Thursday’s security breach. The recovery followed a demand for the attacker to return approximately $3.8 million within 48 hours under a responsible disclosure arrangement.
Shevchenko “said” the funds had returned in full and announced that the team would stop its investigation. He urged security researchers to use bug bounty programs, which reward people for reporting software flaws. The return came before the deadline expired, according to reports published after his announcement.
Blast has announced plans to shut down its Ethereum layer-2 network because operating costs exceed revenue. The team said it could see no “credible path” to making the network financially sustainable. It asked users to move their assets to Ethereum mainnet, including balances held in its web application.
The shutdown will begin with Blast withdrawing assets held through Lido. The team expects this process to take about one week, during which withdrawals will pause. Afterward, Blast will reduce the withdrawal delay to 24 hours. Users have until Oct. 26 to withdraw through the standard interface. Assets will remain accessible after that date through bridge contracts on Ethereum.
The Independent Community Bankers of America filed a lawsuit against the Office of the Comptroller of the Currency on Friday. The case, filed in the U.S. District Court for the District of Columbia, challenges the regulator’s authority to grant national trust bank charters to companies conducting activities outside traditional trust services.
The group argues that crypto companies receive the credibility of a federal bank charter without meeting requirements that apply to insured banks. Its challenge targets a March 2 rule and related guidance. ICBA president and CEO Rebeca Romero Rainey described the charter route as a “side door into the banking system.” The group is asking the court to set aside the challenged measures.
The charters differ from conventional commercial bank licenses. They do not permit companies to accept deposits or make loans, and digital assets held by these firms do not carry federal deposit insurance.
U.S. spot Bitcoin ETFs attracted USD 102.7 million in net inflows on Oct. 1, reversing the previous session’s USD 148.7 million outflow. BlackRock’s IBIT led with USD 195.6 million in new money. Fidelity’s FBTC recorded USD 60.7 million in withdrawals, while Grayscale’s GBTC lost USD 31.4 million.
A newer update from Farside Investors showed USD 31.7 million in reported inflows for Oct. 2. However, BlackRock’s entry remained unreported when checked, leaving the daily total incomplete. Fidelity accounted for USD 29.3 million of the available figure, with Morgan Stanley’s fund contributing USD 2.4 million.
Bitcoin’s latest pullback followed a brief move above USD 87,000 on Oct. 2. The cryptocurrency subsequently traded around USD 84,685, down approximately 1.97% over 24 hours. The reversal followed selling near the USD 87,200 area, which Bitcoin failed to hold during its latest advance.
The market figures put the 30-day simple moving average near USD 85,114, above the quoted trading price. The earlier rally reached approximately USD 87,146. Meanwhile, the total crypto market value fell 1.74% over the same 24-hour period, showing that the decline extended beyond Bitcoin.
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