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On October 2, at 11:30 AM Eastern Time, the Arbitrum Security Committee executed an emergency upgrade on Arbitrum One and Nova, suspending the activation of all new Stylus contracts on both chains, while adding a protective mechanism against BoLD single-step proofs in the dispute system of Arbitrum One. The Arbitrum Foundation stated that this action is part of ongoing proactive security measures aimed at protecting the security and integrity of the network.Stylus allows developers to write smart contracts using languages such as Rust and C++, while maintaining compatibility with the Ethereum Virtual Machine, with its programs compiled into WebAssembly format. This suspension primarily targets manually written WASM programs that do not use the standard Stylus compiler toolchain and have not yet been patched by the current version of ArbOS. The Security Committee increased the gas required for activation to the theoretical maximum by calling ArbOwner.setWasmActivationGas(2^64 - 1), making new activations economically unfeasible. Activated Stylus contracts are unaffected and can continue to execute and renew, and the deployment and execution of Solidity contracts are also unrestricted.The newly added BoLD protection allows anyone to pause the settlement from Arbitrum One to Ethereum when two conflicting and accepted answers appear in the same dispute step, which may delay unconfirmed withdrawals to allow the Security Committee to deploy fixes. Officials pointed out that the currently discovered Stylus-related vulnerabilities mainly affect the activity of the chain, such as denial-of-service attacks, and do not jeopardize user funds.

The cryptocurrency-themed comic creator Bold posted that their wallet was hacked, and all funds in the wallet were stolen. On-chain detective ZachXBT subsequently stated that some of the stolen funds' flow has been tracked.Approximately $51,000 was exchanged for ZEC, about $43,000 was exchanged for ETH; another approximately $43,000 was transferred from Solana to Ethereum via Mayan Finance, around 480 SOL was transferred via Near Intents, and about 51 ZEC was transferred to a blacklisted address via Near Intents.

The Arbitrum development team stated that they are introducing zero-knowledge (ZK) proofs into the Arbitrum platform to achieve a multi-proof settlement model. Through ZK proofs, the settlement time of Arbitrum blocks to Ethereum L1 is expected to be reduced from several days to several hours, while enhancing user, cross-chain bridge, and protocol capital efficiency, and maintaining security through the multi-proof mechanism. Related capabilities are aimed at Arbitrum One and dedicated chains based on the Arbitrum platform. Offchain will subsequently submit upgrade proposals to the DAO.Current progress includes: the ability to run the same state transition functions in SP1 zkVM as in optimistic execution, generating ZK proofs for real mainnet block production; Stylus's WASM contracts can be proven alongside Solidity contracts; the team has launched an independent Rust verifier, making ZK proofs a first-class mode alongside standard verification; the BoLD settlement protocol has supported the acceptance of ZK proofs and is endorsed by a fast confirmation committee, while the original dispute games still serve as a fallback path, forming a multi-proof architecture that coordinates ZK proofs, proof committees, and fraud proofs.The team claims to be continuously reducing proof costs and will gradually merge related code into the Nitro main production path. The next steps include further optimizing proofs and shifting to Reth-based execution, completing L1 message inbox proofs, and integrating ZK settlement capabilities into node configurations for on-demand activation across chains.

According to sources cited by Gelonghui, just days after his hedge fund was on the brink of collapse, former OpenAI researcher Leopold Aschenbrenner has returned to the investment stage, spending $400 million to support a private company.This investment, completed on Tuesday, is the first sign of how Aschenbrenner is picking up the pieces after his AI-themed hedge fund Situational Awareness nearly collapsed last week due to multiple margin calls from Wall Street lenders. This additional funding comes on top of the $100 million that Situational Awareness invested in the same company last month. It is currently unclear which company in his private equity portfolio received this additional funding.

According to Jinshi reports, South Korean President Lee Jae-myung stated on Wednesday that the AI-driven industrial transformation is reshaping the global industrial landscape, emphasizing that South Korea needs to take "bold" and "swift" investment actions. He pointed out that the government's responsibility is to identify trends, plan for the future, and lay the foundation for innovation, while ensuring solid industrial growth potential and a strong energy security system to withstand changes in the external environment.

According to CoinDesk, 21Shares' Bitcoin and Gold Exchange-Traded Product (ETP) BOLD was officially listed for trading on the London Stock Exchange today. This product offers physical exposure to both Bitcoin and gold within a single investment tool, aiming to provide returns similar to Bitcoin but with lower volatility.BOLD combines the two most liquid alternative assets globally into a risk-weighted investment portfolio, making it the first listed product in the UK to offer both assets within a single trading instrument. Since its launch in Switzerland in April 2022, the product has achieved a 122.5% return in pounds by the end of 2025, outperforming both Bitcoin and gold during the same period.

Hong Kong Legislative Council member Wu Jietzhuang posted on X platform, stating that he will continue to promote the development of Web3 in Hong Kong. His views on the future direction of stablecoins, RWA development, and more are as follows:He believes that there will be no significant changes in the development of stablecoins in Hong Kong, which will continue to move forward steadily. The stablecoin regulatory bill was passed in the seventh Legislative Council after a long period of deliberation and discussion. The overall development will align with the international and local financial environment in Hong Kong, progressing steadily, starting with local market trials and aiming to develop the international market, leveraging Hong Kong's position as a financial and innovation hub.RWA is a topic that is currently being discussed extensively in both traditional and Web3 industries. Hong Kong has already promoted a regulatory sandbox, and it is believed that the sandbox will explore the importance of compliant development and the future direction of regulation. It is thought that different industries can boldly attempt to integrate Web3 technology, which is expected to drive the development of numerous real-world applications.The demand for developers is rapidly increasing. More and more companies are setting up in Hong Kong, including Web3 public chains, compliant trading platforms, and underlying infrastructure. The success of developers is closely linked to innovative technology companies, and in the future, efforts will be made to assist the industry in building a talent ecosystem to attract more developers and professionals to settle in Hong Kong.

ChainCatcher news, UK oil and gas companies Union Jack Oil and Reabold Resources plan to utilize stranded gas at West Newton for Bitcoin mining through 360 Energy.Union Jack Oil sees this as an important avenue for its future Bitcoin funding strategy, aiming to optimize asset value. Reabold Resources focuses on achieving higher investment returns through Bitcoin mining rather than directly purchasing Bitcoin, in order to enhance the economic benefits of its PEDL183 license project.

ChainCatcher news, according to The Block, Offchain Labs has launched the Arbitrum BoLD protocol on the mainnet to enable permissionless validation. After being approved by governance voting, BoLD is now in use on the Arbitrum chain, One, and Nova.The system replaces the previously whitelisted validators with a permissionless mechanism, allowing anyone interested in network security to participate.

According to ChainCatcher news reported by The Block, the Arbitrum DAO has initiated a proposal for improvement (AIP) voting, planning to upgrade the Arbitrum One and Nova chains to the Bounded Liquidity Delay (BoLD) protocol. This protocol will run on the testnet starting in April 2024, and if the proposal is approved, it will be implemented on both mainnet chains in February 2025.The BoLD protocol aims to enhance the security of Arbitrum withdrawals to the Ethereum mainnet by introducing a fixed time window (approximately 13 days plus a 2-day grace period) for resolving chain state disputes. This mechanism will shift the verification authority from a whitelist system to a fully open one, allowing anyone to participate in network security verification, effectively reducing the risk of malicious delay attacks.

ChainCatcher news, the decentralized lending protocol Liquity announced on social media that it will soon launch version V2, introducing a new LQTY staking module that breaks the traditional voting escrow (ve) system model. The new mechanism provides a sustainable community-driven model that prioritizes the interests of long-term stakers, with no dilution risk and no locking required. This mechanism has four main features: dual rewards, no long-term locking, increased voting power with long-term staking, and immutable yet flexible.Stakers can simultaneously earn rewards from both V1 and V2, including BOLD tokens and the opportunity to participate in LUSD; they can unstake at any time, providing greater flexibility; the longer the staking period, the more voting power accumulated, leading to greater influence; the core of Liquity V2 is immutable, but the voting model is flexible, with 25% of protocol revenue used to incentivize liquidity.

ChainCatcher news, according to DL News, Liquity executive Colin Platt stated that the company is about two months away from launching its new stablecoin BOLD. BOLD addresses some of the flaws that led to the sharp decline of LUSD over the past year and will grant the community a small degree of control. It is reported that BOLD will adopt borrower-chosen interest rates instead of a one-time fee like its predecessor, and it will also accept staked Ether as collateral.Additionally, by allowing selected developers to "copy" Liquity's BOLD code, Liquity hopes that the affiliated token can gain market share on the second-layer blockchain that handles an increasing number of Ethereum-based transactions.

ChainCatcher news, Nigel Green, CEO of deVere Group, one of the world's largest independent financial advisory and asset management firms, warned that the Federal Reserve must take bold action and implement a massive 50 basis point rate cut in September to address the impending economic storm.Nigel Green stated, "Current interest rates are at their highest in over 20 years, and there is no room for hesitation. A 25 basis point cut may signal a change in direction, but it is not the aggressive action needed to avoid a potentially disastrous hard landing. The case for a bold 50 basis point cut in September is clear. Such a move would strongly indicate that the Federal Reserve is serious about steering the U.S. economy away from the brink of recession. Following that, cutting rates by another 25 basis points in November and December would not only address current concerns but also lay the groundwork for sustainable economic growth." (Jin Shi)

ChainCatcher news, according to Jinshi reports, traders in the U.S. interest rate options market are taking on an emerging bet related to the Federal Reserve's interest rate trajectory: a potential cut of up to 300 basis points within the next nine months (which translates to 12 cuts at the conventional 25BP increments).In the past three trading days, positions in the options market related to the secured overnight financing rate indicate that these bets would profit if the Federal Reserve lowers rates to a low of 2.25% in the first quarter of 2025. Unless the U.S. economy suddenly falls into recession, this outcome seems unlikely. Considering that the market expects the Fed to cut rates by about 75 basis points during this period, this is an aggressive bet.Federal Reserve officials recently predicted a cut of only 25 basis points by the end of this year, and a total cut of 125 basis points by the end of 2025. Now, some are also starting to increase their bets to hedge against the consequences of tail risks, such as rapid and extreme rate cuts.

ChainCatcher message, OffchainLabs co-founder Steven Goldfeder stated on social media that the proposal for the permissionless verification protocol BoLD has been launched within the DAO. If the vote within the DAO passes for BoLD, it will go live on the mainnet in a few weeks.