According to BlockBeats, on August 2nd, the recent hacking attack on Coldcard wallet continues to escalate, with a significant increase in small Bitcoin transfers, reaching the highest level since the FTX collapse. This has reignited discussions in the market about the security of Bitcoin self-custody.

According to data disclosed by Julio Moreno, Head of Research at CryptoQuant, the number of Bitcoin transfers of less than 1 BTC circulating on-chain has risen to its highest level since November 2022, with approximately 39,600 BTC transferred in a single day. This is only about 300 BTC lower than the record of 39,900 BTC on November 16, 2022, a few days after FTX filed for bankruptcy, indicating that users are proactively taking steps to mitigate the risks.

As previously reported, the Bitcoin hardware wallet Coldcard was attacked, with the stolen funds now totaling 1367.05 BTC, worth approximately $88.6 million, involving 4585 addresses. Alex Thorn, head of research at Galaxy, stated that the attack is still ongoing, and users who have not yet migrated their funds should immediately transfer their assets out of addresses generated by Coldcard.

According to BlockBeats, on August 2nd, the South Korean Financial Services Commission, in conjunction with the Financial Supervisory Service, is advancing amendments to the Capital Markets Act. A key measure is the introduction of "emergency measures powers," allowing financial authorities to temporarily reduce the tracking multiple of a single stock leveraged ETF from the current 2x to 1.5x or 1x during periods of severe financial market volatility, without requiring a vote at a beneficiary meeting. Under current law, changes to leverage ratios are considered a core provision directly linked to investor returns, requiring approval from a majority of the voting rights at the beneficiary meeting and more than a quarter of the total number of beneficiary securities, making rapid response difficult in volatile markets. The amendments will draw on guidelines issued by the Hong Kong Securities and Futures Commission on August 24th—guidelines that allow asset management companies to adjust leverage and inverse product multiples based on pre-set standards and public disclosure, and set a time limit for such measures, with multiples only allowed to be adjusted downwards.

At the same time, South Korean authorities are simultaneously considering setting limits on leveraged investments (with only about 20% of the total investment amount available for leveraged products) and introducing mandatory simulated trading obligations. The latter aims to manage risk upfront for investors with large trading volumes. The basic margin requirement was raised from 10 million won to 30 million won on July 31, and authorities stated that there is still room for further increases depending on market conditions.

On the 29th of last month, the chairman of South Korea's Financial Services Commission stated at a plenary meeting of the National Assembly's Political Affairs Committee that "lowering the leverage ratio is expected to be effective in mitigating volatility, but how to balance the interests of beneficiaries and investors will be carefully considered during the legislative process." This means that South Korea's regulatory framework for leveraged ETFs is shifting from "post-event remediation" to a two-tiered structure of "prevention + emergency intervention."