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Chinese Suspect Arrested in Thailand Over $6.1M Bitcoin Scam

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  • Chinese Bitcoin scam suspect Tianwei was arrested at Don Mueang Airport while attempting to flee to Singapore.
  • The victims transferred 200 million baht in Bitcoin to Tianwei after a business meeting on April 23 but received no returns for their investment.

A Chinese suspect has been arrested by the Thai police for his role in a major ‘vanishing’ Bitcoin scam worth $6.1 million.

On the 12th of June, a local news outlet, Khaosod English, reported that a Chinese suspect by the name of Tianwei was arrested by Thai immigration police at Don Mueang Airport in Bangkok for his involvement in a major Bitcoin fraud case valued at 200 million baht, which is $6.15 million. 

According to the report, the arrest took place early in the morning, at about 6:00 a.m. on the 12th of June. The suspect, Tianwei, was attempting to flee the country on Lion Air flight SL100 to Singapore. Hours before the flight, the officers at the international departure terminal were alerted and were able to identify and detain him before he could leave Thailand.

How the Chinese Suspect Carried Out the Bitcoin Scam 

The case officially opened on the 30th of April, 2025, when two Chinese citizens filed a formal complaint through their legal representative at the Mae Sai Police Station in Chiang Rai. The details shared that the victims met with Mr. Tianwei on April 23rd for a business discussion that involved them making Bitcoin transactions.

After getting to an agreement, they transferred about 200 million baht to two different wallets that belonged to Tianwei. However, after the transfers were done, they didn’t receive the returns Tianwei had promised them. Realizing they had been deceived, they decided to take legal action.

Following the complaint, investigators started to work and do some intensive investigations into the case. During the course of the investigation, they were able to gather information on Tianwei, especially that he was served an arrest warrant on May 16 for fraud.

Authorities started to track his movements and got information that he was planning to flee Thailand via Don Mueang Airport. Thai immigration police were immediately notified and positioned themselves at the airport in preparation for his interception.

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When officers finally got Tianwei and confronted him, he did not resist his arrest. After verifying his identity, he confirmed that he was indeed the individual named in the arrest warrant and admitted that he had never been detained for this crime before. 

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XRP Draws in Big Players with Nearly $1B Put in to Support Ripple

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  • Eight major companies, including Nasdaq-listed Trident and VivoPower, have collectively invested over $986 million in XRP.
  • Firms like Webus International, Wellgistics, and Hyperscale Data plan to use XRP in the real world, especially for faster payments and the creation of crypto treasury reserves.

XRP has continued to gain traction in the corporate world as many institutions continue to pour money into it. Recently it was recorded that eight major companies have invested nearly $1 billion into XRP. 

This move goes to show XRP’s potential for real-world utility, especially tackling issues like cross-border payments and blockchain-based finance. It also highlights XRP’s position as one of the most evolving tokens in the crypto space.

The Details of the Big XRP Buy

According to a report shared by Bull Diep on X, the eight companies together invested over $986 million. One of the most notable investments that caught the eye of many came from Trident, a company listed on Nasdaq. 

Trident has previously revealed its plans to raise 500 million to build its own XRP reserve. The company brought in Chaince Securities LLC to act as a strategic advisor and planned to gather funds through private deals and equity offerings. 

Another whale buy was done by Webus International. The company is also setting up an XRP treasury, and it went on to sign a management agreement with a digital asset advisor and filed a 6-K form with the U.S. Securities and Exchange Commission. Webus has set an estimated budget of $300 million for its XRP-related activities as part of a broader move into blockchain.

VivoPower, another Nasdaq-traded business, also raised $121 million to start its XRP investment portfolio. The company, in a bid to raise funds, sold $20 million worth of shares at $6.05 each and then used the money to invest in XRP. Wellgistics, a well-known pharmaceutical distributor, also made huge investments into XRP. The company made a $50 million XRP buy and shared that it plans to use the token to boost payment speed and build up its crypto treasury. Lastly, Hyperscale Data, a company that focuses on digital infrastructure, committed $10 million to XRP. 

This big company’s decision to invest in Ripple, especially among companies looking for options beyond the usual choices like Bitcoin or Ethereum, shows how much belief institutions have in XRP.

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Bitrue Hacker Launders $23M via Tornado Cash, Nets $9.3M Profit in ETH

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  • Over a two-year period, the Bitrue hacker has successfully stolen $23 million in crypto by converting it into Ethereum and funneling it through Tornado Cash. 
  • The Bitrue hack occurred in April 2023, when the attacker stole different crypto tokens and converted them into ETH, holding them until 2024–2025. 

Bitrue, a prominent cryptocurrency exchange, was hit with a major hack in 2023, after a hacker stole $23 million worth of crypto assets. 

According to recent blockchain activity shared by EmberCN, a prominent on-chain data reporter on X, the attacker has been slowly moving the stolen funds, funneling large amounts of Ethereum through the sanctioned crypto mixer Tornado Cash.
The details of the hack covered that over the last two years, the hacker meticulously laundered the entire $23 million through a series of calculated crypto trades and transfers. The user made use of Tornado Cash, a crypto mixer designed to disguise transaction trails. During this time, the value of the token also grew significantly. 

By the end of the laundering process, the stolen assets were converted into 12,079 ETH worth approximately $32.36 million, which is a $9.36 million increase from the original amount. With all of this, the hacker also made an additional $4.72 million by strategically swing trading Ethereum.

The data also showed the details of how the assets were moved from March 2024, when the hacker sold 4,207 ETH, to April 2025, when they started moving and cleaning smaller batches of ETH, sending 1,050 coins through Tornado Cash. Then finally on June 12, 2025, the attacker moved 5,111.5 ETH along with the entire 16.345 million DAI stash to a new wallet. 

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Bitrue Hacker Launders $23M via Tornado Cash, Nets $9.3M Profit in ETH 4

How the Bitrue Hack Happened 

The hack started in April 2023, when the hacker penetrated Bitrue systems and stole different crypto tokens, which were worth about $23 million at the time. Immediately after they completed the theft, they converted the different tokens into ETH and held the funds for months before strategically.

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DOGE Coin Millionaire Turns PEPE Rich After Losing DOGE Fortune in 2021

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  • Glauber Contessoto, once a DOGE coin millionaire, has bounced back with over $1 million in PEPE spread across six wallets. 
  • He switched from Ethereum to PEPE in February 2025 after ETH dropped from $3,800 to $1,555, citing PEPE’s strong meme appeal and cultural edge.

DOGE coin millionaire Glauber Contessoto is back to making huge profits from crypto, but this time, it’s from a different meme coin. In early 2021, Contessoto made a huge bet on DOGE and made huge profits before the market crashed. Apparently, he put in about $180K into Dogecoin and turned it into $3 million only to watch it crash to about $200K when the market tumbled.

Now he’s back in the spotlight and riding a new meme-coin hype on PEPE. He’s using the lessons from his past experience to avoid the same mistakes and is carefully plotting his next move.

DOGE Coin Millionaire Shifts Memecoin Buy Strategy

According to his X post, Contesoto now holds over $1 million worth of PEPE spread across six wallets. He still owns his original 5 million DOGE, currently valued at around $990,000. Earlier in February, he switched his Ethereum holdings to PEPE after watching ETH fall from $3,800 to $1,555 over the course of 11 months. According to him, his decision to switch assets came from his convictions on PEPE in terms of memecoin. He believes it’s one of the few meme tokens with the DOGE level of recognition.

He also likes PEPE’s tone and edge, saying it captures the real, raw side of online culture in a way that DOGE doesn’t. Looking back, he admits holding meme tokens for too long during the last bull market and regrets not cashing out sooner. He now understands that buying is simple, but selling at the right time is tough.

Learning from experience, he plans to sell half of his DOGE by the end of 2025, aiming to avoid past mistakes.

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Crypto Trader Bounces Back After $168K TRUMP Loss, Bets Big on Fartcoin

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  • After losing $168,000 on the TRUMP meme coin, a crypto whale shifted strategy and invested $2 million into Fartcoin, a token that had previously made huge profits. 
  • On-chain data shows that traders show a pattern of high-risk, high-reward behavior.

A crypto trader recently made headlines after losing $168,000 on a high-risk bet on the TRUMP meme coin. Despite the huge loss, he decided not to back down and instead went back into the market, determined to recover and possibly profit from the crypto market. 

According to data from Lookonchain, a crypto whale that lost about $168,600 trading Official Trump (TRUMP) meme coin is back in the market, but with a different approach. The wallet, which was tagged with the address 2WfeaM, has a history of risky trades with both wins and losses in the meme coin space. Previously, the whale placed two bets on Fartcoin and the presidential-themed token “TRUMP.”

Based on his trades, he made a profit of $368,500 from his Fartcoin investment and made a loss in Trump. With that, he decided to reinvest in Fartcoin instead of placing another bet on TRUMP.

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The Crypto Trader’s New Strategy After Major TRUMP Loss 

On the 10th of June, at around 8 AM UTC, the whale spent 2 million USDC to buy more Fartcoin, clearly avoiding purchasing TRUMP tokens this time.

Over the last 20 days, the data shows that the whale has consistently made huge bets on several memecoins. Some of the trades include not only Fartcoin and Official Trump but also Wrapped Solana (WSOL). Also, the wallet activity also showcased that the whale is a high-risk, high-reward investor.

The decision to steer clear of TRUMP just shows the lessons learned from the past loss. By reinvesting in tokens like Fartcoin, the trader seems to be focusing on coins that have previously brought gains. 

TRUMP Market Performance 

TRUMP token has continued to see a decline. As of the time of writing, the token is trading at about $10.69, and although it has a 0.7% increment, in the last 7-30 days the price significantly dropped

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Crypto Trader Bounces Back After $168K TRUMP Loss, Bets Big on Fartcoin 8

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Wells Fargo Employee Faces 30 Years Imprisonment After Embezzling Nearly $1 Million from ATMs

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  • A former Wells Fargo branch operations manager has been accused of stealing approximately $947,000 from ATM machines over nearly two years.
  • He allegedly manipulated banking system entries and withheld cash from ATM deposits. His charges could result in up to 30 years in prison.

Wells Fargo, one of the top financial institutions in the world, is currently undergoing scrutiny for internal control issues. An employee of the financial establishment has allegedly stolen almost $1 million from the company’s crypto in a desperate attempt to cover his own significant losses from trading.

According to a report shared by a major news outlet, the San Francisco Chronicle, a man who worked at the company embezzled about $947,000 from ATM machines in Union City.

The suspect, whose name is Tamim Ghulam Haidar, was a former branch operations associate manager at the bank. When he was caught and arrested, the charges were that he committed the theft “knowingly and intentionally.” The details of the trial also said that he has consistently been stealing the company’s money for almost two years now. The case has been filed in the U.S. District Court for the Northern District of California.

How Haidar Carried Out the Wells Fargo Theft and the Charges Against Him 

From early 2021 till late 2022, Haidar, who was in charge of figures, entered incorrect amounts into the banking system. He also didn’t put the right amount of stated cash into the ATM machines.

Instead, he would take the extra money from the money he was supposed to put into the ATMs and put it into his own personal accounts. He would then use that money to cover or make up for the money he lost from trading the foreign exchange (FX) market. Sometimes, Haidar would even use the logins of other bank employees to steal. He would hide the screen from them to keep secret that he was putting in fake, higher dollar amounts.

As of the time of writing, Haidar is facing charges for theft by a bank worker. He is also facing charges for using money from illegal acts. He could spend up to 30 years in federal prison. The government also seeks to get back the money he allegedly stole.

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Crypto Use Booms as 32,000 Merchants Now Embrace Digital Payment Systems

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  • Over 32,000 merchants now accept crypto payments due to their speed, lower costs, and ease of use.
  • Businesses are shifting to crypto payment systems not just for lower transaction fees, but also for other added features like money management, currency exchange, and good credit services.

Crypto is becoming a major means of payment, as over 32,000 merchants are now open to using it. Since the introduction of crypto in 2013, the future of the assets has remained uncertain to many, with some believing that crypto is the future of finance and others seeing it as just a bubble. 

The answers to the question of the future of crypto still remain uncertain, and only the future will tell; however, this article seeks to highlight digital assets growth so far, especially in regard to merchants that have embraced the digital form of payment. 

This huge rise in digital assets as a form of payment shows the trust businesses and customers have in the asset. With more stores and companies starting to see the value of using crypto for fast, easy, and secure payments, its future in finance is not far-fetched.

Why There Is a High Shift to Crypto Payment Systems

According to detailed research done by Foresight Ventures, titled “Beyond Payments: Building the Financial OS for Global Commerce,” in 2025, over 30,000 shops around the world now make use of digital currency as a mode of payment. According to the details of the work, this shift is happening because companies are trying to look for better, cheaper, and easier ways to accept and transact money. With 660 million people using digital assets globally, more sellers are adjusting to meet this demand.

The work also puts in context that inasmuch as the traditional banks and card services try to process large amounts of money every year, they also charge sellers high fees. Crypto payment services, on the other hand, offer a simple flat 1% charge with fast or even instant settlement. This process helps save time and cut out extra middlemen. For instance, Coinbase Commerce and Binance Pay are leading in this space, processing over $1.5 billion in payments.

Another significant reason for the move in digital payment services is because, more than just making money from transactional fees, crypto payment services offer extra tools like money management, currency exchange services, and business credit options. These new features help payment platforms grow and offer more value to users.

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Cetus Protocol Restarts with Fresh Plan and Compensation after $223 Million Hack

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  • After a $223 million exploit, Cetus Protocol is relaunching with a new roadmap aimed at improving security, restoring user funds, and rebuilding trust. 
  • Despite these efforts, CETUS price dropped around 7% on the day of the announcement, continuing its downtrend that began in May. 

Cetus Protocol is preparing a comeback after suffering a massive $223 million exploit. The team has introduced a new roadmap and a compensation plan for users to rebuild trust and restore the platform. This relaunch aims to strengthen security and support affected users.

As previously recorded by Tronweekly, the Sui network explained that the hack happened due to the flaw in Cetus Protocol’s math logic, not the Move programming language. 

Cetus Protocol Repayment Plan 

On the 6th of June, the decentralized exchange shared its recovery plan in a blog post. According to the details, the repayment structure is focused on better safety, using improved tracking tools, and moving toward full open-source development. A new reward program was launched to encourage community-led protection. The team also said all damaged CLMM pools would be restored using a mix of recovered funds, company reserves, and a $30 million loan from the parent company, Sui Foundation. 

They also added that the liquidity providers will get back all their earlier positions, with recovery between 85% and 99%, based on the individual’s pool’s damage level. To cover the remaining losses, 15% of CETUS tokens were set aside for affected users, 5% ready for instant claims and the rest to be given out monthly from the 10th of June over a year. This payout system does not create extra tokens, as it uses existing unvested team coins. 

All claims will be linked to LP position NFTs, which stay useful for CETUS even after funds are removed. The platform has made sure to finish new reviews with more checks, and live threat tracking is planned to boost safety. The new update, although exciting, did not help CETUS, which dropped about 7% that day, continuing a decline that started in May.

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Bitcoin-Based DeFi App Hacked for $8.3M, Vows to Repay Users in USDC

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  • ALEX Lab, a Bitcoin-based DeFi platform, was hacked on June 6th, causing the platform to lose over $8.3 million due to a flaw in its self-listing verification system.
  • In response to the hack, the platform has pledged to fully repay affected users in USDC, using its treasury.

Bitcoin’s most popular decentralized finance (DeFi) platform that offers users the ability to earn, lend, and trade without banks experienced a recent breach that caused the platform to lose about $8.3 million. 

The platform confirmed the incident and quickly promised to repay affected users in USDC, a stable digital currency. This event highlights the ongoing risks in DeFi, especially as the space continues to grow.

How the Bitcoin-DeFi Hack Happened and Reimbursement Plans

On the 6th of June 2025, the Bitcoin-based DeFi protocol ALEX Lab suffered a major security breach that led to the loss of more than $8.3 million from various digital asset pools. According to details, the attacker took advantage of a weakness in the platform’s self-listing verification system, which was actually created to help control on-chain limits on the Stacks blockchain.

Some of the stolen funds included 8.4 million STX tokens worth around $5.69 million, 21.85 sBTC valued at about $2.24 million, 149,850 in stablecoins like USDC and USDT, and 2.8 WBTC totaling nearly $287,000. This recent incident makes it the second time in two years that ALEX Lab has been targeted, bringing more attention to the dangers linked to smart contracts in newer Bitcoin DeFi systems. 

In response to the hack, the ALEX Lab Foundation quickly announced that it will repay all impacted users fully in USDC. The reimbursement will come from the project’s own treasury and will be calculated using average on-chain prices between 10:00 and 14:00 UTC on the same day. The team confirmed that the total value set for user repayment is $8,373,227.13 and emphasized their commitment to making users whole again.

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Pi Network Under Fire as Users Call for Token Transparency

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  • Many Pi Network users have used social media to express their worries over their tokens that are still not showing up in their wallets even after completing KYC and moving to mainnet. 
  • Users have also called on the network to provide full transparency of the movement of funds, especially after Pi Network Foundation 2 was found holding 276.5 million Pi coins. 

Pi Network is currently facing criticism as many users have raised concerns about missing tokens and the network’s lack of clarity. Many community members are demanding clear answers and action from the team, claiming they’ve waited too long without seeing their expected token balances. 

The whole situation has created a lot of attention across social media, with many users urging the project to be more transparent and responsive. 

Pi users have shared their anger online and called out Pi Network after noticing that their wallets were still not showing any Pi tokens even after finishing KYC and moving to the mainnet as they were asked to do. Many posts mention the same problem: missing balances despite following all steps.

Some also noticed more than one wallet linked to their account, making things even more unclear and raising worries about how safe and dependable the system really is. Although the team recently gave new tips on wallet safety, people are still concerned about their token not showing up after doing all the necessary steps.

Other Growing Concerns About Pi Network Transparency 

Another issue that has raised concerns about the Pi Project is the recent transfer of about 276 million Pi coins by the Pi Foundation wallet. Dr. Altcoin pointed out a wallet ending in “ODM,” which is said to belong to Pi Network Foundation 2 and now holds 276.5 million Pi coins. The Pi Core Team has not explained the purpose of this wallet. 

Dr. Altcoin, an X analyst, also noted that it’s been three months without any updates and urged the team to be more open. Blockchain data shows that the “ODM” wallet made another big withdrawal of 7.38 million Pi coins today. According to community member MOON JEFF, the wallet has been withdrawing large amounts weekly from the OKX exchange.

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