The Wire PM: October 1, 2026

The Wire PM: October 1, 2026

NEAR Intents paused cross-chain services after a $3.8 million exploit

NEAR Intents said a bug in its Omni deposit and withdrawal system led to about $3.8 million in losses across several networks. The platform paused services, restricted deposits and withdrawals, said the vulnerability was patched and pledged to reimburse affected users. A reimbursement promise addresses the immediate loss, but it does not remove the operational question for users: cross-chain routing adds dependencies beyond the asset and the chain. When a venue resumes, the relevant checks are the incident report, the scope of the fix and how normal deposit and withdrawal flows have been tested. Source: CoinDesk, published October 1 at 14:18 UTC.

Drift opened DFX claims with a recovery pool covering about 1% of losses

Drift opened a claims process for DFX holders, according to The Defiant. Redeeming burns the tokens and ends a holder's claim on future deposits, while holders who keep them can wait for revenue-funded recovery or sell the claim. The recovery pool currently covers about 1% of losses, which makes the choice less about a headline payout and more about timing, liquidity and the probability of future recoveries. Recovery instruments can be difficult to price because the token, the claim and the protocol's future revenue are separate risks. Source: The Defiant, published October 1 at 16:14 UTC.

European advocates asked Brussels to revisit MiCA's stablecoin reward restrictions

Cointelegraph reported that 50,000 Europeans called on the EU to ease MiCA restrictions on stablecoin rewards as the framework comes under review. The discussion matters for stablecoin users because a regulated issuer, a lending platform and a rewards program can sit under different rules and carry different risks. A change to the rulebook would not make a yield source interchangeable with a bank deposit or a money-market fund. Users still need to identify the issuer, the venue holding the assets and the conditions behind the advertised rate. Source: Cointelegraph, published October 1 at 18:45 UTC.

Numbers (Updated)

• BTC: $84,738 (+1.0%)
• SOL: $118.43 (-0.2%)
• ETH: $2,698.42 (+0.7%)
• Solana DeFi TVL: $6.54 billion
• Solana USDC context: Kamino Lend at 4.37% APY on about $11.5 million TVL

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