1. US Seizes $31 Million in Cryptocurrency Linked to Uranium Finance Hack
According to a post on X released by the Southern District of New York (SDNY) on Monday, US authorities have seized approximately $31 million in cryptocurrency related to the 2021 Uranium Finance hacking incident. This seizure is the result of a joint operation by SDNY and the Homeland Security Investigations (HSI) in San Diego. As of the time of publication, an SDNY spokesperson had not responded to CoinDesk's request for comment, and there are no further details available regarding the seizure or any related investigations. Uranium Finance is essentially a clone of the automated market maker (AMM) Uniswap deployed on the Binance BNB Chain (then known as Binance Smart Chain). In April 2021, a hacker exploited a vulnerability in the Uranium pairing contract to steal various tokens worth $50 million. At the time, the Uranium Finance hack was one of the largest monetary exploits in the history of decentralized finance (DeFi). After the $50 million exploit, the hacker attempted to launder some of the funds through various means, including using the cryptocurrency mixer Tornado Cash, depositing small amounts of cryptocurrency into centralized exchanges, and possibly purchasing rare and highly valuable Magic: The Gathering trading cards, according to blockchain detective ZachXBT. Uranium Finance shut down after the hack, and victims received no answers or financial compensation. Nearly four years after the initial attack, some funds have been recovered, providing a glimmer of hope for victims who hope to see some of their money returned. -Original
2. OKX Reaches Settlement with US Department of Justice
OKX has reached a settlement with the US Department of Justice, paying over $500 million in fines and forfeitures. The trading platform was under investigation for operating without a money transfer license in the US, and its affiliate, Aux Cayes FinTech Co. Ltd., has reached an agreement with US authorities. Sources indicate that this settlement involves past non-compliance and fraud allegations against OKX. Additionally, OKX's US subsidiary, OKcoin, received a subpoena from the CFTC on February 24 last year regarding an investigation into fraudulent activities in digital asset trading. OKX did not immediately respond to requests for comment, and a CFTC spokesperson declined to comment. -Original
3. Bybit Hacked, $1.4 Billion Lost
According to Arkham, Bybit has been hacked in the largest financial theft in history. On February 21, 2025, the cryptocurrency trading platform Bybit was hacked, resulting in a loss of $1.4 billion. The previous largest financial theft was the $1 billion stolen from the Central Bank of Iraq on March 18, 2003. -Original
4. Solana Faces Largest Token Unlocking
Cryptocurrency market maker Wintermute has withdrawn $38.2 million worth of SOL from Binance in the past 24 hours, with just one week remaining until Solana's largest token unlocking in history (valued at $2 billion). On March 1, 11.2 million SOL will be unlocked for circulation. The price of SOL has recently come under pressure, dropping over 7.5% in the past 24 hours to a nearly three-month low of $155. Crypto analyst Artchick.eth stated, "Over the next three months, more than 15 million SOL (approximately $2.5 billion) will enter circulation, most of which was purchased by institutions like Galaxy Digital, Pantera Capital, and Figure through FTX auctions at $64 per SOL. The SOL purchased by Galaxy at $64 still has substantial profits." Trader RunnerXBT pointed out, "Galaxy Digital, Pantera, and Figure hold unrealized profits of $3 billion, $1 billion, and $150 million in SOL, respectively. The market speculates that these institutions may sell their holdings, and the recent endorsement of the LIBRA meme coin scam by Argentine President Milei has exacerbated market panic." -Original
5. Citadel Plans to Become a Crypto Market Maker
According to market news, Citadel Securities, the largest market maker on the New York Stock Exchange with a market value of $65 billion, aims to become a liquidity provider for Bitcoin and cryptocurrencies, betting on President Trump's support for the industry. -Original
6. SEC May Revisit ConsenSys Lawsuit
According to Fox Business reporter Eleanor Terrett, given the recent focus of the US Securities and Exchange Commission (SEC) on staking operations, the agency may revisit the lawsuit filed against ConsenSys last year regarding its MetaMask staking service. Additionally, the SEC had previously accused ConsenSys of engaging in unregistered brokerage activities, but this accusation has since been withdrawn, similar to the claims dismissed in the Coinbase lawsuit. -Original
7. Musk to Launch Grok Update Soon
Musk announced on the X platform that a major update for the Grok voice mode will be launched tomorrow night (February 25). -Original
8. Federal Reserve Researcher: Stablecoins Becoming New Payment Method
Chris Colson, a payment researcher at the Federal Reserve Bank of Atlanta, stated that stablecoins are gradually becoming a new payment method, although they still face multiple challenges. He noted that some retailers have begun accepting stablecoin payments, and the stablecoin market has surpassed $230 billion, approaching the annual GDP of Greece or New Zealand. Colson believes that for stablecoins to achieve widespread adoption, they need to gain recognition from banks, credit card companies, and regulators. Additionally, since stablecoin transactions are based on blockchain, it is difficult to reverse transactions like traditional bank payments, which is another issue that needs to be addressed in the promotion process. He added that similar to Apple Pay, which underwent a 10-year promotion period, stablecoins may require time to gain broader user acceptance. -Original
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