Safemoon’s explosive rise was fueled by a massive fraud scheme, as its CEO was convicted for looting investor funds, lying about locked liquidity, and laundering millions. Safemoon CEO Faces 45 Years as Liquidity Pool Lies Lead to Federal Conviction The U.S. Department of Justice (DOJ) announced on May 21 that Braden John Karony, chief executive […]

Safemoon CEO Found Guilty in Major Crypto Fraud, Could Serve 45 Years

The White House&#8217;s push for stablecoin regulation could trigger trillions of 
dollars in Treasury demand &#8220;practically overnight,&#8221; Trump advisor David Sacks 
says. David Sacks, President Donald Trump&#8217;s top advisor on crypto and 
artificial intelligence, said the administration expects the U.S.…

White House crypto czar David Sacks says stablecoin clarity could trigger trillions for US debt

Hyperliquid is gaining serious momentum, both on the charts and under the 
hood, as bullish price action aligns with record-breaking platform growth on 
key metrics. Hyperliquid (HYPE) price is up 15% in the past 24 hours, 
currently trading at $35.50,…

HYPE price primed to retest $35 peak as Hyperliquid platform hits ATHs in OI, fees, and TVL

The Pakistani Ministry of Finance has announced a significant initiative to 
regulate digital assets in the country, unveiling plans for the establishment 
of the Pakistan Digital Assets Authority (PDAA). This dedicated body aims to 
oversee the blockchain-based financial infrastructure, ensuring compliance 
with Financial Action Task Force (FATF) standards while promoting economic 
inclusion and responsible adoption […]

Pakistan to Launch Digital Assets Authority to Regulate Crypto Market and Foster Financial Innovation

The hacker behind the data breach targeting Coinbase users has mocked 
blockchain investigator ZachXBT with an onchain message following a major 
crypto swap.
On May 21, the hacker who previously stole data from at least 69,400 Coinbase 
users used Ethereum transaction input data to write &#8220;L bozo,&#8221; followed by a 
meme video of NBA player James Worthy smoking a cigar.
The message came after the attacker swapped approximately $42.5 million from 
Bitcoin (BTC) to Ether (ETH) via THORChain.
ZachXBT flagged the message on his Telegram channel, linking it to the same 
entity responsible for the Coinbase data breach affecting at least 69,400 
users.
_Coinbase hacker trolling ZachXBT. Source: ZachXBT._
On May 22, blockchain security firm PeckShield reported that the hacker had 
continued to move funds, swapping 8,697 ETH for 22 million Dai (DAI). A 
separate but closely linked address, which received 9,081 ETH via THORChain, 
also converted the assets into 23 million DAI.
_**Related:**__**DOJ is investigating Coinbase data breach &#8212; Report**_
## Coinbase hit with lawsuits after breach
The Coinbase breach, first reported in a filing with the Maine Attorney 
General&#8217;s office, occurred in December 2024 and was discovered on May 11. The 
stolen data includes names, home addresses and other personal information.
Following the disclosure, the attackers demanded a $20 million ransom in 
Bitcoin to prevent the release of the stolen data. Coinbase refused and 
instead offered a $20 million bounty for information leading to the 
identification of the hackers.
The company estimates a potential financial impact between $180 million and 
$400 million due to remediation costs and customer compensation.
Coinbase has also faced a wave of lawsuits following the revelation. At least 
six legal complaints were filed between May 15 and 16, with plaintiffs 
accusing the exchange of failing to implement adequate security measures and 
mishandling its response to the breach.
_**Related:**__**Coinbase data leak could put users in physical danger: 
TechCrunch founder**_
## THORChain under scrutiny for criminal use
The Coinbase hacker&#8217;s use of THORChain to swap $42.5 million worth of Bitcoin 
into Ether comes as the protocol faces growing scrutiny over its role in 
facilitating illicit transactions.
In March, the platform came under fire after its swap volume surged following 
the $1.4 billion Bybit hack. The protocol generated over $5 million in revenue 
after processing $5.4 billion in swap volume, with over $1 billion moved in a 
single day.
Blockchain security firms identified North Korea&#8217;s Lazarus Group as the main 
suspect, using THORChain to launder a significant portion of the stolen funds.
_Source: __Lookonchain_
The controversy intensified when a THORChain developer, known as &#8220;Pluto,&#8221; 
resigned after a vote to block transactions linked to Lazarus was overturned.
_**Magazine:**__**TradFi is building Ethereum L2s to tokenize trillions in 
RWAs: Inside story**_

Coinbase hacker trolls ZachXBT onchain after $42.5M THORChain swap

Minnesota Representative Tom Emmer has reintroduced the Blockchain Regulatory 
Certainty Act in Congress, with renewed bipartisan backing and industry 
support. The Blockchain Regulatory Certainty Act seeks to clarify that 
developers and service providers who do not custody consumer funds, such…