2026.09.25 · EVENING EDITION

SORAN is a quick digest of what Korean Telegram communities are talking about right now.

TOP STORY

Bitget $351.6M Hack Shakes Confidence in Centralized Exchange Asset Custody

Bitget confirmed approximately $351.6M unauthorized transfer from hot wallet (report). Cold wallet is secure and company committed to full compensation via $464M user protection fund. Communities largely point to North Korean Lazarus as culprit; hackers extracting USDC via CCTP across Arbitrum Bridge, raising concerns that the Arbitrum Bridge being blocked could shock harder than Circle freezing tokens.

Growing sentiment to reconsider CEX deposits, with communities shifting toward DEX and self-custody to diversify holdings.

Bitget Hack Lazarus $USDC CCTP

TOP SIGNALS / what's hot

RWA Tokenization Emerges as Q4 Leadership, Ondo-BlackRock Partnership Rallies Institutional Focus

Communities pushing RWA tokenization as Q4's dominant narrative. Ondo jumped 25-30% on BlackRock partnership news; Securitize hit $17 post-Nasdaq listing, Solana-based Backpack surged 14x from $0.1 to $1.4. KBW side event Sept 29 hosted by MiraeAsset, Hana, Populus with Arthur Hayes, Coindo, Bullant attending raises expectations for domestic institutional participation.

Communities bullish on traditional finance inflection into on-chain. Within-sector market cap disparities creating re-rating opportunities for lagging tokens.

$ONDO $SECZ $BP RWA BlackRock

Solana Memecoins Cycle with Holder Concentration as Key Risk

Solana memes rotating with Backpack hitting $1B market cap, Based exceeding $0.5, tokens like Fuul rebounding. Communities caution extreme concentration among tiny holder subset; rally only sustains if holders disperse to hundreds of addresses.

Rotation signals emerging but holder concentration remains high; verify on-chain holder distribution before entry.

$BACKPACK $BASED $FUUL Solana Memecoins

Vina Perp DEX: No-API Structure as True Volume Signal

Vina blocks fake volume by not opening APIs for maker margin manipulation, which communities view as genuine volume signal. CT analysis rates Vina as bigger opportunity than Hyperliquid despite latter exceeding $20B market cap. Point farming underway with Vina positioned as next-season standout.

Communities agree Perp growth certain; absence of APIs paradoxically viewed as trust signal.

$VINA $HYPE Perp DEX Vina

ALSO MOVING / elsewhere

USD Stablecoin Global Expansion on Track for $1T Long-Term Scenario

Analysis circulating suggests US pushing dollar stablecoins globally reverses de-dollarization and boosts US short-term Treasury demand. Current $500B could grow to $1T; expectations that regulated issuers like Circle and Ethereum and Solana benefit.

Phala TEE-Based Privacy AI Infrastructure Captures Rising Local LLM Demand

Phala reportedly outpaced Venice in OpenRouter usage. Growing demand from enterprises and individuals to run local LLMs within TEE environments; NEAR AI Cloud adopted Phala's TEE stack (report). Data privacy and inference independence are core selling points.

Airdrop Farming Season Winds Down; Next Opportunity Targets Q4

Communities consensus: airdrop farming nearing end. Lighter jumped $0.8 to $5.5, CashCat already graduating. Diminishing returns this round, focus shifts to Q4 positioning for next wave.

NFT Approval Exploit Attacks Surge; Regular Revocation Critical

MagicEden vulnerability resulted in 3,832 NFTs stolen from hundreds of wallets; white hats recovered most. LimitBreak's DigiDaigaku suffered approval rights abuse via Payment Processor V2. Communities warn stale permissions remaining active now an attack vector, with Revoke Wallet gaining attention as bulk cleanup tool.

Pump.fun Memecoins and Muse Ecosystem Activate

Muse ecosystem memes like Jolly and PROTOCOL rallying fast on Pump.fun. Muse Protocol released META payment roadmap with META chain-based memes launching in succession. Influencer caller markets maturing; direct trading losses among callers tallied at $3.5M.

Trump-Xi Summit and Iran-US Strait Talks Advance

Trump and Xi held first summit in 10 years at White House Sept 24 (report). Iran proposed resuming nuclear talks pre-midterms and discussing Strait of Hormuz reopening (report). Ships transiting Hormuz at highest level since July.

Stacks Bitcoin Staking Goes Institutional; L1 Asset Absorption Begins

Anchorage Digital launched institutional Bitcoin staking on Stacks PoX-5 (report). Structure lets institutions stake BTC while keeping it natively on Bitcoin L1, signaling large capital entering. US first federally-regulated crypto bank arrival viewed as trust signal.

HOW IT WORKS / how it works

01Collect

Hundreds of Korean crypto and stock trading Telegram communities, swept twice a day.

02Analyze

AI extracts topics from tens of thousands of messages, merges fragments, and filters out ads and shills.

03Publish

Twice daily at 7:30 AM and PM KST, in Korean and English.