Live: Market Rebound and Other Crypto News for Oct. 20

A US crypto investor and his wife lost their $3 million retirement savings after a hacker drained their wallet and laundered the funds through Huione-linked OTC platforms. Onchain sleuth ZachXBT traced the stolen XRP across multiple bridges before it was dispersed. The case highlights the growing wave of crypto scams and the urgent need for stronger global security measures.

Chainlink (LINK) has risen 10% in the past 24 hours as large investors purchased over $116 million worth of tokens since October 11. Growing partnerships with major institutions like Swift and DTCC are boosting confidence that LINK could soon retest the $20 level.

Insane accumulation!30 new wallets have withdrawn 6,256,893 $LINK($116.7M) from binance since the 1011 market crash. pic.twitter.com/uI26RW1hq6— Lookonchain (@lookonchain) October 20, 2025

The Royal Government of Bhutan has made a significant move in the crypto market, transferring 108.8 BTC, valued at about $12.06 million. Despite this transfer, the government still holds a substantial reserve of 6,262 BTC, worth approximately $694 million.

Royal Government of bhutan just transferred 108.8 $BTC($12.06M) out and still holds 6,262 $BTC($694M).https://t.co/hiNf1ySQhU pic.twitter.com/miTbVttRL7— Lookonchain (@lookonchain) October 20, 2025

HTX announced the launch of its “Sail Together” initiative. It is a global campaign will last till Nov. 15. It allows crypto traders from any platform or region to claim loss-rebate airdrops of up to 5,000 USDT.

The announcement came after the Oct. 11 market crash, which turned out to be one of the largest liquidation events in crypto history. Within just a few hours, more than $19 billion in leveraged positions were wiped out. As a result, BTC price plunged from around $124,000 to nearly $104,000 within hours.

With this initiative, HTX aims to help crypto traders recover a portion of their recent losses. Eligibility is limited to users who incurred trading losses of at least 100 USDT between Oct. 9 at 4:00 p.m. UTC and Oct. 11 at 3:59 p.m. UTC.

Vitalik Buterin has unveiled the GKR protocol, a new proof system aimed at streamlining and facilitating zero-knowledge computations.

The GKR framework enables the verification of large computations with minimal on-chain overhead. GKR processes proofs in logarithmic time, which eliminates the need for expensive intermediate commitments.

This design makes it considerably more efficient than traditional ZK-SNARK or STARK systems.