SN73Merit Price

A 28-year-old Russian core member of the globally recognized ransomware group Qilin was arrested in Japan and was extradited to Germany on October 2. Reports indicate that the man is suspected of illegally infiltrating the systems of a logistics company in Germany in September 2024, encrypting data, and demanding a ransom of approximately $165,000 (about 26 million yen) in Bitcoin. Investigations reveal that he was responsible for building attack systems within the Qilin criminal network and took a percentage of the ransoms collected by various branch execution teams. Japanese police apprehended him while he was traveling to Osaka in late May this year, and he was subsequently handed over to German authorities after being deemed eligible by the Tokyo High Court. Qilin operates under a 'Ransomware as a Service' (RaaS) model and previously claimed responsibility for a cyber attack on Japan's Asahi Group in 2025.

Mitsui Sumitomo Bank, Daiwa Securities, SBI Securities, Progmat, and Datachain, among nine Japanese institutions, have announced the completion of the second phase validation of 'Project Trinity.' The project aims to eliminate the risk of settlement mismatch through 'Delivery versus Payment' (DvP). During the tests, Daiwa Securities and SBI Securities simulated the START market of the Osaka Digital Exchange (ODX), using corporate bonds issued by SBI VC Trade and trust-type stablecoins issued by Mitsui Sumitomo Bank to successfully complete two cross-chain synchronous settlements, validating the feasibility of a T+2 settlement cycle.

On October 6, FxPro analyst Alex Kuptsikevich stated that since September 23, Bitcoin has faced resistance near $87,000 for the third time. From a technical perspective, Bitcoin has formed a trend of 'higher local lows' since the beginning of last week, but bulls have not been able to generate sufficient upward momentum. The price is currently approaching the apex of a triangle formation created by a horizontal resistance line and an ascending support line. If the price breaks through this formation, the market may experience higher volatility. If bulls can absorb the selling pressure at this level and push Bitcoin to stabilize at $87,000, it would indicate that the selling pressure at this position is weakening and could open up space for Bitcoin to challenge its near 8-month high.