Bitcoin price fluctuated significantly this week, dropping below $81,000 on October 13 before recovering to approximately $83,400. Despite the volatility, the asset ended the week above $81,000, marking a 2.4% decline. Spot Bitcoin ETFs saw a weekly outflow of $228.5 million, while Ethereum ETFs experienced outflows for the third consecutive week, totaling nearly $320 million.
Ledger confirmed the presence of malicious implants in its hardware wallets, which intercepted seed phrases via mobile networks. While the company initially linked the issue to a single vendor in Southeast Asia, reports of compromised devices emerged elsewhere, including Germany. Estimates from Bitquery and YFarmX suggest cumulative losses ranging from $93.2 million to $103.4 million across hundreds of affected addresses.
In regulatory developments, the Bank of Russia clarified that peer-to-peer cryptocurrency transactions will be restricted after July 1, 2027, requiring intermediaries for such operations. Meanwhile, China proposed new export restrictions on 40 technology categories, including AI models and chip manufacturing, with a public consultation period open until November 15.
The industry is also addressing long-term security risks. Coinbase advocated for a transition to post-quantum cryptography to protect Bitcoin, and nine organizations formed the Quantum Alliance to standardize these efforts. Concurrently, Google Quantum AI reported a 40-fold reduction in error rates for specific quantum states on its Willow processor.
