Swan Bitcoin sued for nearly $1B over pre-bankruptcy transfers from Prime Trust

An Ohio man received a 9-year federal prison sentence for orchestrating a $10 million Bitcoin trading Ponzi scheme that defrauded multiple investors. The conviction highlights growing regulatory crackdowns on crypto fraud schemes targeting retail investors. Such cases underscore risks in unregulated trading platforms and reinforce need for investor due diligence before committing funds to crypto ventures.

Echo Protocol's eBTC suffered a $77 million exploit after attackers compromised admin private keys on the Monad blockchain, minting 1,000 unauthorized synthetic Bitcoin. The attacker laundered roughly $3.45 million through Tornado Cash and DeFi protocol Curvance, retaining $73 million in stolen assets. The incident highlights operational vulnerabilities including single-signature admin roles and absent supply caps, adding to 2026's DeFi security crisis affecting dozens of protocols.

Bitmine chairman Tom Lee says the crypto treasury firm acquired 71,672 ETH during the recent price pullback below $2,200, viewing it as an attractive buying opportunity. Bitmine holds over 5.2 million ETH and targets 5% of circulating supply by end-2026. Lee attributes ETH's 57% decline from August peaks to elevated oil prices amid Middle East tensions, predicting recovery if oil reverses.