Cryptogrind Daily — Tuesday, October 13, 2026

GM, and welcome to Cryptogrind Daily. Today, we’ve got some heavy hitters on the crypto front, so let’s dive right in.

First up, the once-mighty Blur marketplace has announced that its website will go dark next month. Back in March 2023, Blur was riding high, processing a staggering $1.43 billion in NFT trades in just one month. They were like the David to OpenSea’s Goliath, with dreams of becoming “the Binance of NFTs.” Fast forward to today, and Blur is barely scraping together $7 million in monthly volume. That’s a solid 99.5% drop — not exactly the trajectory you want to brag about in your marketing materials. Blur says their marketplace contracts will stay live on-chain, and holders of their token still have control over the fee switch. But without the website, which is how most people accessed the platform, it’s hard to imagine it retaining any significant traction. It’s a bit like owning a sports car with no wheels; technically, you own it, but it’s not taking you anywhere. Oh, and their NFT lending product, Blend, is also getting the axe. As they say, all’s fair in love and NFTs.

Now, let’s pivot to the chaos that unfolded in the week of October 6th to 12th. It was a rollercoaster of scams, investigations, and eyebrow-raising investments. The Ledger debacle alone is one for the books, with over $86 million mysteriously drained from wallets, prompting them to halt sales via reseller CryptoBilis. If you’ve recently bought a Ledger, maybe consider using it as a very expensive paperweight for now. Meanwhile, a senator’s nose is deep in a $10 billion Tether probe, because who doesn’t love a good financial mystery?

In an interconnected tale, Coldcard’s official X account was hijacked to spread a phishing scam, telling users to move their Bitcoin. The kicker? Coldcard claims they can’t find a trace of anyone logging in to post the fraudulent message. This isn’t the first time Coldcard has faced security woes — a previous firmware bug saw attackers pilfer more than $100 million from their wallets. Let’s just say Coldcard’s track record with security is about as robust as a chocolate teapot.

The phishing incident seemed tailor-made to leverage the community’s knee-jerk reaction to security alerts. The fake post warned of a seed-generation vulnerability, pushing users to transfer their Bitcoin through a “security migration” on a dodgy site masquerading as Coldcard’s. While the post has since been deleted, it’s a stark reminder that in crypto, you’re only ever one scam away from losing it all.

So, what does all this mean for crypto jobs and builders? First, the Blur shutdown highlights the ferocious volatility and risk in the NFT space. If you’re building a marketplace, take note: user acquisition is only half the battle; maintaining relevance is the other. For those into hardware or software security, Coldcard’s ongoing troubles underline the pressing need for robust security solutions. If there was ever a time to flex your cybersecurity muscle, it’s now.

In conclusion, whether you’re a developer, founder, or just someone with skin in the crypto game, this week serves as a stark reminder: in this industry, complacency is the enemy. Adapt, evolve, or risk becoming another footnote in the annals of Web3 history.

That’s it for today on Cryptogrind Daily. I’m Alex, see you tomorrow.