责任编辑：张俊 SF065 加密货币高管Do Kwon因400亿美元TerraUSD/Luna崩盘事件认罪欺诈，被判处15年监禁；法官称此案 是"一场史诗级、跨代规模的欺诈"。 责任编辑：张俊 SF065 加密货币高管Do Kwon因400亿美元TerraUSD/Luna崩盘事件认罪欺诈，被判处15年监禁；法官称此案 是"一场史诗级、跨代规模的欺诈"。 ...

Market Overview - The cryptocurrency market experienced a significant crash, with the total market cap falling to $3.13 trillion as of November 20 [1] - Bitcoin (BTC) dropped below the $87,000 mark, reflecting a 2.45% decrease in the last 24 hours [1] Liquidation and Impact - Over the past 24 hours, more than $370 million in BTC positions were liquidated, contributing to a total of over $900 million in crypto positions being wiped out [2] - The market crash has severely affected both long-term investors and small retail traders, leading to substantial losses in their crypto holdings [2] Company Developments - DappRadar, a decentralized application analytics platform, announced its decision to wind down operations due to financial unsustainability in the current market environment [3] - Rental Coins, a Brazilian crypto company, has filed for Chapter 15 bankruptcy in the U.S. to recover assets amid its financial troubles [4][6] Bankruptcy Details - The Chapter 15 bankruptcy filing was made in the U.S. Bankruptcy Court for the Southern District of Florida on November 18, with the aim of tracing crypto transactions and recovering assets lost in a pyramid-style fraud [5][6] - Authorities in Brazil have accused Rental Coins of running a fraudulent investment scheme and mismanaging customer funds, with a former manager already serving a prison sentence for his involvement [6]

UK SFO Basis Markets. Photo by BeInCrypto The UK's Serious Fraud Office (SFO) made its first major arrests in a cryptocurrency case, detaining two men in London and Bradford over an alleged $28 million fraud linked to the collapse of the Basis Markets scheme. The November 20, 2025, operation marks a pivotal shift in UK crypto enforcement. Authorities are expanding efforts to counter sophisticated digital asset crime. UK SFO Launches Landmark Crypto Investigation The Serious Fraud Office announced the ar ...

Core Insights - October has been a volatile month for the crypto industry, starting with Bitcoin reaching an all-time high of over $126,000, but later facing challenges due to geopolitical tensions and tariffs proposed by President Trump [1] - Trump's unexpected pardon of Binance founder Changpeng "CZ" Zhao has stirred hope within the crypto community for potential pardons for other figures like Sam Bankman-Fried [1][3] Group 1: Changpeng Zhao's Pardon - Changpeng Zhao, the founder of Binance, was convicted for failing to maintain adequate anti-money laundering standards and sentenced to four months in prison in 2024, but has now received a presidential pardon [2] - Following his prison term, Zhao relocated to Dubai and has now secured his pardon, which may influence the regulatory landscape for crypto firms [2] Group 2: Sam Bankman-Fried's Situation - Sam Bankman-Fried, founder of the now-bankrupt FTX exchange, was convicted of multiple counts of fraud and money laundering, receiving a 25-year prison sentence and ordered to forfeit over $11 billion [8] - There is speculation within the crypto community that Trump might consider pardoning Bankman-Fried, similar to Zhao's case, which could have significant implications for the industry [3][10] Group 3: FTX and Alameda Research - FTX, once the third-largest crypto exchange, collapsed due to financial fraud involving the misappropriation of customer funds, leading to its bankruptcy filing in November 2022 [5][7] - Alameda Research, founded by Bankman-Fried, operated like a hedge fund and was implicated in the misuse of customer funds, with its CEO Caroline Ellison aware of the fraudulent activities [6][9]

Core Insights - EyeOnChain has identified Garrett Jin, former CEO of BitForex, as the whale controlling over 100,000 BTC, linked to a suspected $56.5 million exit scam in February 2024 [1][2] - Jin denies ownership of the funds, claiming they belong to his clients, and asserts he operates nodes for in-house insights [3][4] - The investigation reveals Jin's significant trading activities, including selling over 35,000 BTC for ETH and opening a $735 million BTC short position [3][5] Group 1: Background on Garrett Jin and BitForex - Garrett Jin served as CEO of BitForex from 2017 to 2020, during which the exchange faced accusations of falsifying trading volumes and operating without registration in Japan [2] - BitForex froze withdrawals in February 2024 after approximately $57 million was withdrawn from hot wallets, coinciding with the resignation of CEO Jason Luo [2] Group 2: Whale Activity and Investigative Findings - The whale sold over $4.23 billion in BTC to acquire ETH and opened a $735 million BTC short position on Hyperliquid, strategically timed before a market crash [3][4] - Jin currently holds 46,295 BTC, valued at approximately $5.19 billion, across eight wallet addresses [4] - The investigation traced wallet addresses back to Jin through ENS domains, linking funds withdrawn from exchanges to his tenure at Huobi and the BitForex collapse [1][6] Group 3: Staking and Trading Operations - Jin's trading involved a series of BTC wallets that received over 570,000 ETH, which were deposited into Ethereum's Beacon Deposit Contract for staking through his company, XHash [5] - An ETH staking contract linked to Jin's address was initially funded by an address on Binance Smart Chain, with the first interaction involving a deposit of 32 ETH [6] - Analysis of the wallet that opened the $735 million BTC short position revealed it received funds from an address that deposited $4.1 million in USDC to a Binance deposit address shortly before [7]

Core Insights - The Delhi Police's cyber cell has dismantled a fraudulent cryptocurrency platform named "BitBank," which was used to deceive victims into investing in fake crypto schemes [1][7] - The operation involved the use of social media to attract potential investors, with promises of high returns leading to significant financial losses for victims [2][5] Group 1: Fraud Mechanism - The BitBank fraudsters utilized social media platforms like Facebook and WhatsApp to lure users into downloading a fake trading app [2] - Once the app was downloaded, fraudsters impersonated BitBank executives to convince customers to invest large sums of money, promising high returns [2][5] - The app only permitted a small portion of the funds to be withdrawn, compelling investors to deposit more money to access their supposed returns, perpetuating the scam [3] Group 2: Victim Impact - A victim reported a loss of 32 lacs, approximately $36,000, which led to the investigation of the fraud operation [3] - The scams are prevalent in India, particularly during bull markets when cryptocurrency popularity peaks, making investors more susceptible to fraudulent schemes [6] Group 3: Law Enforcement Action - The police registered a first incident report (FIR) and arrested a key suspect, Nitin Sharma, who attempted to withdraw 100,000 INR, equivalent to $12,000 [4] - Further investigations into Sharma's communications confirmed his involvement in the fraud, with ongoing efforts to identify additional perpetrators [4][7] Group 4: Industry Context - India ranks among the top countries for cryptocurrency adoption, yet lacks comprehensive regulations, making it a fertile ground for fraudsters [5] - The modus operandi of these scams remains consistent, with fake applications and promises of high returns being common tactics used to defraud investors [5]

Core Insights - Coinbase is reimbursing users after a data breach that led to an extortion attempt, affecting less than 1% of its monthly transacting users [1][2] - The attackers aimed to gather customer information to impersonate Coinbase and extort the company for $20 million, which Coinbase refused [2] - The breach resulted in the theft of personal information, including names, addresses, phone numbers, emails, and partial Social Security numbers, but did not compromise customer login credentials or funds [3][4] Company Response - Coinbase terminated the employees involved in the breach and plans to pursue criminal charges against them [2] - The company is enhancing customer safeguards, establishing a new U.S. support hub, and increasing investment in cyber threat detection [5] - Instead of paying the ransom, Coinbase is creating a $20 million reward fund for information leading to the arrest and conviction of the attackers [5] Industry Context - The incident follows a report from the FBI indicating a significant rise in cryptocurrency fraud, with reported losses of at least $9.3 billion in the previous year, marking a 66% increase from 2023 [6] - The FBI has notified over 5,400 victims of crypto-related fraud between January 2024 and April 2024, many of whom were unaware of being targeted [6]