CFA Report Pegs US Crypto Fraud Losses at $80.7B

The hackers behind the $290 million Kelp DAO exploit have started laundering their stolen funds, with $1.5 million bridged from Ethereum to Bitcoin via Thorchain and $78,000 routed through Umbra. The exploit has prompted concerns over potential contagion to other blockchains, leading to increased scrutiny and actions like Arbitrum freezing $71 million in ETH.

Fireblocks, a cryptocurrency custody firm, is facilitating the issuance of a euro-backed stablecoin by the Qivalis consortium, consisting of twelve European banks. The stablecoin, regulated by the Dutch Central Bank and compliant with EU's MiCAR, aims to challenge the dominance of dollar-pegged stablecoins.

Reabold Resources is considering Bitcoin mining using a small-scale power generation facility in Yorkshire to fund gas field development. The firm's statement clarifies its intention to engage stakeholders for optimal development pathways.

Alcoa is considering selling its idle Massena East aluminum smelter in upstate New York to Bitcoin mining firm NYDIG. The site has been closed since 2014 due to high energy costs and global competition, making it suitable for digital asset mining operations.

The Strait of Hormuz has been closed since late February, with ships still turning back due to safety concerns. Despite a ceasefire, traffic remains minimal, impacting global oil prices and GDP growth projections.

RaveDAO's market cap plummeted by $6.6 billion after ZachXBT urged exchanges to investigate potential price manipulation. The token's value has dropped by 98% since the investigation began, causing concern among investors and industry experts.

In the past week, digital asset investment products experienced significant inflows, with Bitcoin leading the way with $1.12 billion. Ethereum also attracted $328 million, while XRP and Solana saw outflows of $56 million and $2.3 million, respectively.

Over $15 billion has been withdrawn from DeFi as North Korean hackers stole nearly $600 million in a month. The attacks are becoming more sophisticated, impacting major DeFi apps like Aave, Morpho, and Sky.

Ripple unveiled a roadmap to make the XRP Ledger quantum-resistant by 2028 in response to Google's research on potential quantum computer threats to blockchain cryptography by 2032. The company plans to test quantum-resistant cryptography and collaborate with Project Eleven for development acceleration.

Polymarket is in discussions to secure $400 million at a $15 billion valuation, with plans to attract more investors. Intercontinental Exchange invested $600 million last month, totaling $1.6 billion, strengthening their partnership. The prediction market industry is gaining institutional support despite regulatory challenges.