The Weekly Grind (Oct 13–Oct 19): 2.94 Trillion QU Drained, Blur Shuts Down

What’s the Vibe This Week?

This week was a rollercoaster of security blunders and regulatory crackdowns. A shocking breach left Qubic wallets almost empty, while Blur took the NFT market by surprise with its impending shutdown. Meanwhile, regulatory bodies flexed their muscles, blocking exchanges and forcing sudden exits.

The Big Stories

• Qubic Wallets Drained: In just 104 minutes, about 2.94 trillion QU was stolen from 1,404 Qubic wallets due to predictable recovery seeds. The network remains halted. Full Story

• Blur Shuts Down: Once a giant in the NFT space, Blur is shutting down blur.io by November 12. Its monthly trading volume plummeted from $1.43 billion to under $7 million. Full Story

• Bitget’s Sudden Exit: Bitget has given traders in Russia, Belarus, and Kazakhstan just 72 hours to withdraw. No clear reason has been provided. Full Story

• South Korea Blocks Exchanges: South Korea’s FIU is blocking 27 offshore crypto exchanges, including big names like KuCoin and MEXC, to curb hefty fees paid by Koreans. Full Story

By the Numbers

• 2.94 trillion QU stolen from Qubic wallets.
• Blur’s trading volume dropped from $1.43 billion to under $7 million.
• $3.5 billion in fees paid by Koreans to offshore exchanges.
• 241 scam sites pulled by Brooklyn DA and FBI.

What This Means for Crypto Jobs

Security roles are hotter than ever as breaches like Qubic’s highlight major vulnerabilities. With Blur’s shutdown, expect a shift in talent from the NFT sector to more stable ventures. Regulatory crackdowns suggest compliance roles are on the rise, especially as exchanges face increasing scrutiny.

Find your next crypto role at cryptogrind.com.