GM Explorer,

Binance has BNB Chain, Coinbase has Base, OKX has the X Layer, and now Kraken is joining the big leagues with its very own Ethereum Layer-2 network!

Here’s what we got for you today:

• 🍾 Kraken launches new Ethereum L2 network!

• 😱 Cryptocurrency heist: A $230 million scam exposed!

• 🧱 Around The Block: Meme coin developer dumps 50 percent token supply after launch.

🍾 Kraken Launches New Ethereum L2 Network!

Kraken is stepping into the Ethereum layer-2 arena with its newly announced network, “Ink,” which is set to hit the mainnet in early 2025!

And guess what? Kraken isn’t just showing up to the party; it’s planning to steal the spotlight.

Ink is powered by Optimism’s OP Stack, which is currently the star of the blockchain world, with 43 live chains already vibing in its ecosystem.

It is promising lightning-fast one-second block times from day one.

And if that doesn’t make you blink, they’re already working on shaving those times down to sub-second speeds.

Plus, in true collaborative fashion, Kraken is also sharing the love — or, in this case, some of its sequencer revenues — with Optimism.

For context, Coinbase’s Base gives up between 2.5% to 15% of its earnings, so expect some friendly profit-sharing vibes among these blockchain buddies.

If you're a developer, grab your calendar because Ink’s testnet goes live in just 17 days. 

And hey, Kraken isn’t planning to hold back — you can expect AMAs, live demos, and contests designed to attract the brightest minds in crypto.

As Ink’s founder, Andrew Koller, pointed out, the real magic happens when a project can bring real value to its users.

And let’s be honest, who doesn’t love a bustling, innovative community?

That’s exactly the vision for Ink — a welcoming hub for developers to bring innovative DeFi projects to life and serve fresh ideas on a silver platter.

Founded by Jesse Powell in 2011, Kraken isn’t some rookie in the crypto space—it’s one of the OGs, with about 10 million users in more than 180 countries.

And as the sixth-largest exchange globally, Kraken is dead serious about making its mark with Ink.

So, keep your eyes on this one cuz the future of DeFi just got a lot brighter!

You can read more here!

😱 Cryptocurrency Heist: A $230 Million Scam Exposed!

Malone Lam, a 20-year-old Singaporean, and co-conspirator Jeandiel Serrano are accused of swindling over 4,100 bitcoins worth approximately $230 million.

Here’s how they pulled it off:

In the days before their heist, the duo bombarded their unsuspecting target with “unauthorized Google account access” alerts.

To add an extra layer of deception, they utilized proxy servers and virtual private networks (VPNs) to make it seem like the access attempts were coming from overseas.

Then came the phone call.

They called the victim, pretending to be Google support team members, saying there had been a hack attempt on his account and that they needed to shut it down.

Shockingly, they convinced the victim to hand over his security codes.

With this, Lam allegedly dove into the victim's OneDrive and Gmail, where he found his Gemini cryptocurrency exchange records.

One of the conspirators called the victim back to drive the nail in further.

But this time, they impersonated a security rep from Gemini and claimed that the victim’s crypto accounts were also at risk.

Initially, they managed to swindle about $3 million in cryptocurrency from him, but their manipulation didn’t stop there.

They manipulated him into opening several files, including those with private keys to over 4,100 bitcoins.

So, what did they do with their ill-gotten wealth?

Serrano created an account on TradeOgre, a digital currency exchange, and funneled around $29 million worth of virtual currency into it.

The digital trail revealed that the account originated from an IP address linked to Serrano’s extravagant rental home in Encino, California, costing $47,500 monthly.

Lam, on the other hand, went on a spending spree.

He reportedly spent about $400,000 to $500,000 a night in Los Angeles nightclubs and bought a collection of luxury cars, some with price tags soaring to $3 million.

He also rented multiple opulent homes in Miami, one costing $68,000 monthly, and gifted extravagant handbags valued in the tens of thousands.

But it all came crashing down sooner rather than later.

Serrano was arrested at Los Angeles International Airport on September 18 after returning home from a holiday in the Maldives with his girlfriend.

While Lam was arrested on the same day in Miami.

Both men now face serious charges in the U.S., including wire fraud and money laundering, with potential prison sentences of up to 20 years.

Get more juicy details here.

🧱 Around The Block

• Meme coin developer dumps 50 percent token supply after launch.

• Michael Saylor says he supports Bitcoin self-custody amid community outrage.

• Elon Musk might be a hero – but he is certainly NOT crypto’s hero.

• Denmark plans to propose taxing unrealized crypto gains in upcoming bill.

• El Salvador president Nayib Bukele donates 2 Bitcoin to build 1,000 schools in Honduras.

• Uniswap's permissionless bridging goes live across nine networks.

• Tesla keeps Bitcoin holdings intact as Q3 earnings reveal strong profit margins.

• Bernstein analysts label their $200,000 bitcoin price prediction for the end of 2025 as ‘conservative.’

That's all we've got for you today.

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions.