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Breaking: U.s Feds File To Seize $225M In Largest Crypto Bust
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U.S Feds File to Seize $225M in Largest Crypto Bust

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Federal agents in the U.S.  have filed to seize over $225 million in cryptocurrency. This is the largest crypto amount to be seized in the history of the U.S. Secret Service. The civil forfeiture complaint was filed in the U.S. District Court for the District of Columbia

The case targets crypto tied to scams that tricked victims into fake investment schemes, according to a statement from the U.S. Attorney’s Office. This was after a joint investigation by the U.S. Secret Service, FBI, and the U.S. Attorney’s Office.

The report said they used blockchain analysis to track down the stolen funds. The fund was hidden across hundreds of thousands of transactions, which were done on purpose to confuse the authorities and also make it untraceable. However, the agents were able to follow the trails and freeze the wallets linked to the fraud. These wallets were part of a global scam network that helped criminals wash and move stolen money.

Officials say the funds were tied to “Cryptocurrency confidence Scams,” where victims were persuaded to invest in some deal that had to do with cryptocurrency. Millions of people in the U.S  lost their money, and over 400 others around the world.

“These scams prey on trust, often resulting in extreme financial hardship for the victims.” Secret Service Special Agent Shawn Bradstreet said. Meanwhile, U.S. Attorney Jeanine Pirro said her team is leading the charge to stop crypto scams.

In a short post on X, she wrote, “Under my leadership, with the support of President Trump and Attorney General Bondi, the U.S. Attorney’s office for the District of Columbia is taking a leading role in the fight against crypto-confidence scams, partnering with law enforcement throughout the country to seize and forfeit stolen funds and rip them from the hands of foreign criminals, all with the eye toward making victims whole.”

The Justice Department stated the goal now is to go after the networks behind these scams and return the stolen assets to the victims.

Also Read: US Senators Ramp Up Discussions on New Crypto Market Bill



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$230,000,000 Bitcoin Stuns Largest US Crypto Exchange, Coinbase
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$230,000,000 Bitcoin Stuns Largest US Crypto Exchange, Coinbase

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  • $230 million in Bitcoin shoveled to top US platform
  • Bitcoin mid-term profit takers cashing out

Popular blockchain sleuth Whale Alert, which tracks large cryptocurrency transactions, has spotted three massive Bitcoin transfers that took place within a single hour, following each other closely.

They targeted Coinbase Institutional, carrying hundreds of millions of dollars worth of Bitcoin.

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$230 million in Bitcoin shoveled to top US platform

The above-mentioned on-chain data aggregator spread the word about three consecutive Bitcoin transfers entering Coinbase Institutional – the branch of the US largest crypto exchange, Coinbase, dealing with institutional clients.

These deposits carried 870, 814, and 472 BTC and were equal to $230,000,000 in total at the time when those transfers were initiated. These large lumps of Bitcoin were sent from anonymous wallets to the aforesaid crypto trading venue.

Today, the Bitcoin price displayed a sharp drop, falling by 2.6% from the $108,800 zone to a local bottom near $106,000. A similar drop took place on Thursday last week. Both bearish movements were largely triggered by the recent escalation in the military developments in the Middle East. Besides, the treat of a trade war between the US and Canada still looms with negative predictions for both economies.

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Bitcoin mid-term profit takers cashing out

According to a Glassnode report published on the X platform today, there has been a significant change in the tier of wallets that have been taking profits by selling part of their Bitcoin portfolios recently.

Last week, according to the on-chain data aggregator, Glassnode, the main profit-takers who sold Bitcoin were wallets holding Bitcoin for more than 12 months. Those cohorts were responsible for 83% of all realized profit in the market. Meanwhile, wallets that hold Bitcoin for 6-12 months just realised $904 million of their profits, overtaking the old cohorts. That was the second-highest daily profit year-to-date.

Last week, we highlighted how $BTC wallets that held >12m were the primary profit-takers. But that trend has now flipped. Yesterday:

🔹 <12m cohorts accounted for 83% of all realized profit
🔹 6–12m holders alone realized $904M – second-highest daily profit YTD pic.twitter.com/gBD8tLCjVG

— glassnode (@glassnode) June 17, 2025

This was how the things stood last week. On Monday, this trend flipped. Therefore, mid-cycle Bitcoin buyers are cashing out at the moment, while long-term holders continue to hold or might be even accumulating more BTC. According to another post in this Glassnode thread, it is mainly those whales selling now who bought Bitcoin in the 4th quarter of 2024.





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SharpLink Gaming Buys $463 Million in Ethereum, Becomes Largest ETH Treasury Firm

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In brief

  • SharpLink Gaming unveiled a $462 million Ethereum acquisition, saying that 95% of the funds had already been deployed in decentralized finance, or DeFi, protocols.
  • The company’s stock dropped over 70% on Thursday during after-hours trading as the public tried to assess the significance of an S-3 shelf prospectus.
  • The Ethereum Foundation held $540 million worth of Ethereum on Friday, Akrham Intelligence data showed.

SharpLink Gaming recently acquired $462 million worth of Ethereum, becoming the asset’s largest holder among public firms, according to a company blog post published on Friday. 

The Nasdaq-listed online gambling marketer, which adopted an Ethereum treasury strategy in May, said that it had purchased roughly 176,000 ETH for an average price of $2,600 per coin. The price of Ethereum was recently changing hands around $2,500, an 8.8% decrease over the past 24 hours, according to crypto data provider CoinGecko.

The company’s announcement follows a Securities and Exchange Commission filing that sparked confusion on Crypto Twitter. As the public tried to parse the significance of an S-3 shelf prospectus, shares tumbled more than 70% in after-hours trading on Thursday. 



Although observers speculated that the filing indicated SharpLink investors had sold shares, Ethereum co-founder, Consensys CEO, and SharpLink board chair Joe Lubin said the filing was “standard.” (Disclosure: Consensys is one of 22 investors in an editorially independent Decrypt.)

SharpLink shares opened at $10.26 on Friday, a 67% dip compared to the stock’s closing price of $32.53 a day before, according to Yahoo Finance. Shares soared as high as $124.12 in late May after the company announced a $450 million private placement. They were recently changing hands around $11.21.

“There’s a period of time between [the] announcement to when everything is ready to go, where the float is tiny and everyone buys it, and it basically turns into a meme stonk,” Taproot Wizards co-founder Udi Wertheimer, said on X, formerly Twitter. “That’s resolved once all the filings [are] done. […] It doesn’t mean anyone ‘rugged.’”

SharpLink said that, as of Friday, over 95% of the company’s Ethereum holdings had been deployed in “staking and liquid staking solutions, contributing to Ethereum’s network security while generating yield.”

Among liquid staking protocols, Lido is the most popular, containing $23 billion in assets, according to crypto data provider DefiLlama. The protocol allows investors to lock up Ethereum to earn staking rewards, while also having access to a token pegged to the price of Ethereum.

Bitcoin treasury firms, which have soared in popularity this year, are not able to earn yield on their holdings by leveraging Bitcoin’s network. The difference, in terms of staking, can be attributed to the networks’ different consensus models.

In addition to SharpLink’s initial PIPE transaction, the Minneapolis-based firm said that it had raised $79 million through at-the-market (ATM) offering of common shares. Under its ATM equity program, the company is able to issue $1 billion in equity to buy more Ethereum.

A PIPE, or Private Investment in Public Equity, allows a firm to quickly raise capital by selling shares privately to institutional or accredited investors, as opposed to a public offering.

SharpLink said in its blog post that, on a broader scale, that its Ethereum holdings were second only to the Ethereum Foundation. As of Friday, the Ethereum Foundation held $540 million worth of Ethereum, Arkham Intelligence data showed.

Edited by James Rubin

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$150 Million In XRP Exits Largest Crypto Exchange Binance In 24 Hours
Crypto Trends

$150 Million In XRP Exits Largest Crypto Exchange Binance In 24 Hours

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More than $151 million worth of XRP was withdrawn from Binance on June 11, according to on-chain data from CryptoQuant. 

This dramatic jump in outflows follows a much smaller $23 million recorded the previous day, hinting at a sudden and strategic move by XRP holders.

Such a rise in exchange outflows is usually an indication of increasing confidence in the digital asset. When huge quantities of a token are withdrawn from exchanges, it is a sign that those holding it are not looking to sell at that time.

Rather, it is possible that they are accumulating their XRP in cold wallets, which is sometimes a precursor to holding for long periods. What stands out the most here is the scale and timing.

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A sixfold increase in outflows within 24 hours rarely occurs without a cause. Although the real reason behind the move remains unverified, such action is normally observed before possible price increases, as traders attempt to anticipate what they believe will be a bullish momentum.

Although the movement was colossal, the price of XRP did not change much, as it continued trading at around $2.31. Such price stability in the face of massive outflows can be a sign of silent accumulation before a significant price change.

The XRP outflows indicate the actions of knowledgeable investors

This is a reminder to new investors to watch out for on-chain signals. A massive withdrawal does not necessarily imply a rise in price, but it usually reflects what knowledgeable investors are doing.

It’s also a reminder of the growing role that exchange activity plays in market analysis. Exchange inflows usually indicate selling pressure. 

Outflows often suggest the opposite. That’s why traders who stay ahead look at more than just charts: they track where the money is moving.

It will be interesting to see whether this is the beginning of a long-term trend or a one-off occurrence. The transfer is a useful hint to those who own XRP or are planning to, enabling them to make informed decisions. While this transfer could mean nothing, it could also indicate that smart money is already on the move.

Earlier today, VivoPower, a publicly traded company, and blockchain network Flare announced a partnership to enable the former to earn passive income with its XRP holdings.



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Largest Public SHIB Holder Revealed, Here's Big Catch
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Largest Public SHIB Holder Revealed, Here’s Big Catch

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  • The largest SHIB wallet emerges, Binance left on sidelines
  • SHIB army burns 31,447,991 coins

Arkham Intelligence on-chain data company has revealed the top-10 list of SHIB holding addresses with the largest one among them being kind of a surprise for the community. Its SHIB stash is worth billions of US dollars at press time.

With this wallet sitting on the very first spot, such top players in the cryptocurrency space as Binance, Robinhood, and Crypto.com have been left behind.

The largest SHIB wallet emerges, Binance left on sidelines

According to the aforementioned data source, the largest SHIB holder is the wallet that has been accepting unwanted Shiba Inu coins since early 2021 – one of the SHIB burn addresses. These coins will never be able return to circulation. This wallet holds a mind-blowing total of 410,430,774,772,152.3 SHIB. This amount of meme coins is currently valued at $5.9 billion in fiat.

It is followed by wallets that belong to Upbit, Binance, Robinhood, Crypto.com, and Bithumb.

Upbit holds 49,633,636,728,526 SHIB, Binance’s wallet contains 45,435,410,757,391.81 SHIB.

The Robinhood address holds 39,273,245,781,062.02 Shiba Inu, while Crypto.com’s SHIB stash is equal to 30,870,004,624,315.74 meme coins.

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SHIB army burns 31,447,991 coins

Shibburn wallet tracker has revealed that during the past 24 hours a substantial amount of meme coins has been moved out of circulation. In two large burns, the meme coin’s community burned 31,447,991 SHIB.

18,356,090 and 13,091,149 SHIB were transferred to dead-end wallets by anonymous whales. By now, a total of 589,251,256,408,651 SHIB meme coins remain in circulation out of the initial one-quadrillion-SHIB supply. 4.7 trillion SHIB have been locked for staking purposes in DeFi apps.

The above-mentioned largest SHIB holding address is one of the wallets tracked by Shibburn.



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Sui Ecosystem Rocked by $200M ‘Oracle Manipulation Attack’ on Its Largest DEX

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In brief

  • Attackers exploited vulnerabilities in Cetus Protocol’s smart contracts using spoof tokens to manipulate price calculations and drain liquidity pools on Sui’s largest decentralized exchange.
  • Popular Sui tokens including Lofi, Sudeng, and Squirtle plummeted 76-97% within an hour, while the Cetus token itself dropped 53% as 46 Sui tokens posted double-digit losses.
  • The attacker has $164 million in a Sui wallet and already bridged $61.5 million in USDC to Ethereum, with Cetus pausing contracts and investigations ongoing while Sui’s native token surprisingly rose 2.2%.

The Sui ecosystem has been rocked to its core by an exploit on the network’s largest decentralized exchange Cetus which has seen $200 million stolen from liquidity pools.

Notable Sui meme coins like Lofi (LOFI), Sudeng (HIPPO), and Squirtle (SQUIRT) tanked 76%, 80%, and 97% in just an hour. And the popular Cetus token dropped 53% over the same time frame. According to DEX Screener, 46 Sui tokens have made double digit losses over the past 24 hours.

“The attacker exploited vulnerabilities in Cetus Protocol’s smart contracts by deploying spoof tokens to manipulate price curves and reserve calculations,” Deddy Lavid, CEO and co-founder of security firm Cyvers, told Decrypt. “This allowed them to extract real assets from multiple liquidity pools, including the SUI/USDC pool. The stolen funds are being converted into USDC and bridged to other chains.”

PeckShield estimates that approximately $200 million worth of assets were stolen due to this exploit. The attacker currently has $164 million sitting in a Sui wallet and has bridged $61.5 million worth of USDC onto Ethereum.

A SUI spokesperson declined to comment on the exploit when reached by Decrypt, instead referring to what the team had already shared publicly on X.

In response, Cetus paused its smart contracts to prevent any further losses. The exchange issued a statement on social media stating that an “incident” had been detected and that its team was investigating it.

🚨Alert Announcement 🚨

There was an incident detected on our protocol and our smart contract has been paused temporarily for safety. The team is investigating the incident at the moment. A further investigation statement will be made soon. We are grateful for your patience.

— Cetus🐳 (@CetusProtocol) May 22, 2025

Leaked Discord messages suggest that the Cetus team believe the exploit came as a result of a “bug” in its oracle. Users on social media seemed skeptical of this, but Cyvers told Decrypt the aforementioned exploit is called an “oracle manipulation attack.”

This is because the attackers were able to manipulate the oracle to misrepresent the price via the deployed spoof tokens.

The attacker has been moving funds using the USDC stablecoin. Circle has caught flak from industry experts, like on-chain sleuth ZachXBT, for its slow reaction in freezing funds related to hacks—taking more than five hours to block funds connected to the Bybit hack in February.



(And for what it’s worth, USDT issuer Tether has had similar complaints for its fund freeing process leaving a window for attackers to avoid the punishment.)

“We’ve repeatedly urged stablecoin issuers to act on our real-time alerts, yet many still choose to wait for post-mortem investigations,” Lavid said. “The pattern is clear: Action comes days too late, if it comes at all. In this threat environment, delay is indistinguishable from inaction.”

This situation is still developing with former Binance CEO Changpeng “CZ” Zhao claiming that his team are doing what they can to help Sui.

“Not a pleasant situation,” he wrote on X, formerly Twitter. “Hope everyone stay SAFU!”

Surprisingly, Sui’s price hasn’t been too badly affected by news of the exploit. The token has actually risen 2.2% over the past 24 hours, according to CoinGecko.

Daily Debrief Newsletter

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Sui Ecosystem Rocked by $200M ‘Oracle Manipulation Attack’ on Its Largest DEX

by admin



In brief

  • Attackers exploited vulnerabilities in Cetus Protocol’s smart contracts using spoof tokens to manipulate price calculations and drain liquidity pools on Sui’s largest decentralized exchange.
  • Popular Sui tokens including Lofi, Sudeng, and Squirtle plummeted 76-97% within an hour, while the Cetus token itself dropped 53% as 46 Sui tokens posted double-digit losses.
  • The attacker has $164 million in a Sui wallet and already bridged $61.5 million in USDC to Ethereum, with Cetus pausing contracts and investigations ongoing while Sui’s native token surprisingly rose 2.2%.

The Sui ecosystem has been rocked to its core by an exploit on the network’s largest decentralized exchange Cetus which has seen $200 million stolen from liquidity pools.

Notable Sui meme coins like Lofi (LOFI), Sudeng (HIPPO), and Squirtle (SQUIRT) tanked 76%, 80%, and 97% in just an hour. And the popular Cetus token dropped 53% over the same time frame. According to DEX Screener, 46 Sui tokens have made double digit losses over the past 24 hours.

“The attacker exploited vulnerabilities in Cetus Protocol’s smart contracts by deploying spoof tokens to manipulate price curves and reserve calculations,” Deddy Lavid, CEO and co-founder of security firm Cyvers, told Decrypt. “This allowed them to extract real assets from multiple liquidity pools, including the SUI/USDC pool. The stolen funds are being converted into USDC and bridged to other chains.”

PeckShield estimates that approximately $200 million worth of assets were stolen due to this exploit. The attacker currently has $164 million sitting in a Sui wallet and has bridged $61.5 million worth of USDC onto Ethereum.

A SUI spokesperson declined to comment on the exploit when reached by Decrypt, instead referring to what the team had already shared publicly on X.

In response, Cetus paused its smart contracts to prevent any further losses. The exchange issued a statement on social media stating that an “incident” had been detected and that its team was investigating it.

🚨Alert Announcement 🚨

There was an incident detected on our protocol and our smart contract has been paused temporarily for safety. The team is investigating the incident at the moment. A further investigation statement will be made soon. We are grateful for your patience.

— Cetus🐳 (@CetusProtocol) May 22, 2025

Leaked Discord messages suggest that the Cetus team believe the exploit came as a result of a “bug” in its oracle. Users on social media seemed skeptical of this, but Cyvers told Decrypt the aforementioned exploit is called an “oracle manipulation attack.”

This is because the attackers were able to manipulate the oracle to misrepresent the price via the deployed spoof tokens.

The attacker has been moving funds using the USDC stablecoin. Circle has caught flak from industry experts, like on-chain sleuth ZachXBT, for its slow reaction in freezing funds related to hacks—taking more than five hours to block funds connected to the Bybit hack in February.



(And for what it’s worth, USDT issuer Tether has had similar complaints for its fund freeing process leaving a window for attackers to avoid the punishment.)

“We’ve repeatedly urged stablecoin issuers to act on our real-time alerts, yet many still choose to wait for post-mortem investigations,” Lavid said. “The pattern is clear: Action comes days too late, if it comes at all. In this threat environment, delay is indistinguishable from inaction.”

This situation is still developing with former Binance CEO Changpeng “CZ” Zhao claiming that his team are doing what they can to help Sui.

“Not a pleasant situation,” he wrote on X, formerly Twitter. “Hope everyone stay SAFU!”

Surprisingly, Sui’s price hasn’t been too badly affected by news of the exploit. The token has actually risen 2.2% over the past 24 hours, according to CoinGecko.

Daily Debrief Newsletter

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Guatemala’s largest bank adds stablecoin remittance tech in app
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Guatemala’s largest bank adds stablecoin remittance tech in app

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In a regional first, SukuPay’s crypto-native payment infrastructure is now powering cross-border remittances inside Banco Industrial’s mobile app, Zigi — marking a significant shift in how Latin American banks adopt blockchain technology.

The integration allows Guatemalan users to receive U.S.-based transfers in under 20 seconds via their existing banking app, for a flat fee of $0.99, according to a note shared with crypto.news. 

Users can initiate payments with a debit card, Apple Pay, or cash through retail partners like Walmart and CVS. The system works using just a phone number, eliminating the need for IBANs, crypto wallets, or conversions.

“This isn’t a feature — it’s a financial infrastructure upgrade,” said Yonathan Lapchik, CEO of SukuPay. “We’re powering real-world payments that actually work for real people — banked or unbanked.”

Inefficiencies addressed 

Remittances are a vital lifeline for Latin America, with Guatemala alone receiving over $21 billion annually. Traditional systems are often costly and slow. 

SukuPay addresses these inefficiencies by embedding stablecoin-based transfers directly into a regulated banking environment — invisible to the user, but transformative under the hood.

Banco Industrial chose to integrate SukuPay rather than build its own cross-border infrastructure.

 “With SukuPay’s infrastructure embedded directly into Zigi, we’re not just improving remittances, we’re setting a new standard,” said Michel Caputi, Head of Strategic Alliances at Banco Industrial.

The partnership may serve as a model for banks across the region looking to modernize without building from scratch or forcing customers to engage directly with crypto technology.



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Guatemala’s largest bank integrates blockchain for cross-border payments
Crypto Trends

Guatemala’s largest bank integrates blockchain for cross-border payments

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Guatemala’s largest bank, Banco Industrial, has integrated crypto infrastructure provider SukuPay into its mobile banking app, allowing locals to more easily receive remittances powered by blockchain technology. 

SukuPay’s infrastructure has been fully embedded inside the Zigi payment app, allowing Guatemalans to receive funds from the United States instantly for a $0.99 flat fee, the company disclosed on May 21. 

Users of the Zigi app do not need a crypto wallet or an International Bank Account Number (IBAN) to receive the funds, the company said. 

SukuPay CEO Yonathan Lapchik told Cointelegraph that the “key to mainstream adoption of blockchain technology is making it invisible to the end-user” so that there are no technical barriers. 

“That’s the only way we’ll scale blockchain to billions of people — by building the rails, not forcing people to learn how they work,” said Lapchik.

Established in 1968, Banco Industrial has more than 1,600 service locations throughout Guatemala. As of 2023, it had over 150 million Guatemalan quetzals in assets, equivalent to roughly $20 million US. SukuPay said its integration with Zigi marks one of the first crypto-native protocols to be used inside a major Latin American retail bank.

Banco Industrial has a long-term issuer default rating of BB. Source: Fitch Ratings

The bank also has operations in Honduras, Panama and El Salvador and is a key player in local remittance markets.

Related: Bitcoin treasury adoption grows in LATAM, mirroring US strategic BTC reserve plan

Remittances are lifelines for Latin America

Remittances, or money sent by migrants to their home countries, play a vital role in Guatemala and the broader region. 

The Inter-American Development Bank projected that remittances to Latin America and the Caribbean would total approximately $161 billion in 2024. Monthly remittances typically range from $131 to $648, representing between 6% and 23% of the sender’s average income.

“Remittances are lifelines in this region, but they’re broken,” Lapchik told Cointelegraph. 

“Guatemala alone sees $21 billion in remittances every year, and families are losing 6% to 10% of that to fees and delays. These are people sending $300, $400 a month, and they can’t afford to wait days or pay that much just to get money home,” he said, adding:

“Crypto solves this when it’s used the right way. It lets us move money instantly and at a fraction of the cost, integrated into the bank apps people already use.”

Latin America is the second-fastest growing region in terms of crypto adoption, though Guatemala lags behind regional leaders Argentina, Brazil, Mexico, Venezuela and Colombia, according to a 2024 Chainalysis study.

The study cited stablecoins as a primary adoption driver in the region. 

Crypto adoption in Latin America by total value received. Source: Chainalysis

Lapchik said stablecoins facilitate cross-border transactions more easily, but that “people don’t wake up saying, I need a stablecoin.’” 

“Stablecoins are just the best way to make that happen,” he said.

Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight



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