The post ZachXBT Helps Freeze $41.5 Million After $150 Million Crypto Ponzi Scheme Collapses appeared first on Coinpedia Fintech News

A crypto Ponzi scheme operating under the names DSJ Exchange and BG Wealth Sharing collapsed last week, with on-chain investigator ZachXBT estimating total losses exceed $150 million. The scheme had been running since 2025 and accumulated thousands of victims before falling apart.

Between April 27 and May 3, operators moved more than $92 million in illicit funds across multiple blockchain networks in an apparent attempt to obscure the trail. Approximately $63 million of those funds flowed to custody provider Cobo across four identified wallet addresses on the Tron network.

How the Money Was Traced

ZachXBT said the case came to his attention while he was reviewing USDD contract flows for an unrelated investigation. After identifying the consolidation pattern, he traced outflows across Solana and Tron, matched deposit addresses to Binance accounts through timing analysis, and provided the findings to exchanges, law enforcement, and stablecoin issuers.

The coordination moved quickly. On May 4, Tether froze $38.4 million in funds connected to the scheme. A further $3.1 million was frozen across other platforms, bringing the total amount immobilised to more than $41.5 million. ZachXBT said he worked directly with Tether, Binance’s security team, OKX, and US law enforcement throughout the process.

Who Was Targeted

ZachXBT described the scheme as a Chinese investment fraud deliberately designed to target unsophisticated retail investors through social media channels. The mechanics were straightforward enough that experienced crypto users would likely have identified it quickly, but the operators relied on reaching people with limited familiarity with how these schemes work.

Reading through victim accounts on Reddit after publishing his findings, ZachXBT said many affected users were still in denial about having been defrauded. He urged anyone affected to file a police report in their local jurisdiction, directing US victims specifically to the FBI’s Internet Crime Complaint Center at ic3.gov.

The $150 million figure, he added, is likely a significant underestimate. The scheme operated for well over a year and thousands of victim exchange withdrawals have been identified, suggesting the actual losses may be considerably higher once the full picture emerges.

A Note on the Investigation

ZachXBT said that Ponzi scheme investigations are not cases he typically pursues, describing them as lacking the complexity of the hacks and exploits he more commonly analyses. The repetitive nature of the work means he rarely takes them on. This one was an exception, caught by chance while he was working on something else entirely.

The post Bitcoin Price Prediction: CEO Maps the Road to $92,000 Next appeared first on Coinpedia Fintech News

Bitcoin crossed back above $81,000 Monday, reclaiming a level it had not seen in four months and extending a recovery that has added nearly $500 billion to the total crypto market capitalisation since the US-Iran war began. 

The move was accompanied by liquidation of short positions, with bearish traders caught offside as price pushed through the $80,000 psychological barrier. The forced short covering accelerated the rally, adding fuel to a move that was already building on improving macro sentiment.

What the Numbers Show

Avinash Shekhar, Co-Founder and CEO of crypto derivatives platform Pi42, told Coinpedia that the $80,000 level is now the line that separates a confirmed breakout from continued sideways trading.

“Bitcoin is trading above the $80,000 level, testing a key psychological resistance after recently reclaiming it for the first time in three months,” Shekhar said. “The move higher has been supported by strong momentum and a sharp liquidation of bearish positions, reflecting aggressive short covering as price pushed upward.”

The technical picture, he said, is constructive but not yet confirmed. A sustained close above $80,000 would open the path toward $85,000 to $92,000 in the near term. Failure to hold the level would likely push Bitcoin back into consolidation as traders hedge and wait for a clearer directional signal.

Iran Is Still in the Background

The geopolitical backdrop continues to add noise to what would otherwise be a clean technical setup. US-Iran tensions have contributed to intermittent volatility throughout the recovery, creating moments of uncertainty that have tested Bitcoin’s ability to hold gains.

Shekhar said that market participants remain watchful of these external triggers and that geopolitical developments may continue to influence short-term sentiment and positioning even as Bitcoin holds firm near highs.

What Comes Next

The immediate focus is on whether Bitcoin can hold and close convincingly above $80,000 rather than simply wick through it. A strong weekly close above the level would represent the kind of structural confirmation that institutional participants typically require before adding exposure.

The $85,000 to $92,000 range identified by Shekhar sits just above the 200-day moving average near $83,000, a technical level that has acted as resistance throughout the recent recovery. A clean break through that zone would reset the narrative from recovery to breakout and bring the $100,000 conversation back into serious focus for the first time since October 2025.

The post RippleX Engineering Head Says XRP Ledger Must Be Quantum Ready Before 2030 appeared first on Coinpedia Fintech News

The crypto industry has long treated 2030 as the planning horizon for quantum readiness. Ayo Akinyele, Head of Engineering at RippleX, says that the window may no longer be wide enough.

Speaking in a recent interview, Akinyele acknowledged that the standard guidance has been to prepare for 2030 as the point by which blockchain networks should be migrated to quantum-safe cryptography. 

But recent research findings, particularly work coming out of Google around improvements to Shor’s algorithm, the mathematical tool most associated with breaking classical public key cryptography, have pushed that timeline forward.

“We can’t necessarily wait until 2030,” Akinyele said. “We have to be ready in the next couple of years so that in the event technology outpaces the rate at which we’re able to migrate, we have contingency plans in place.”

Why This Is Harder Than a Software Update

Akinyele was direct about the scale of what quantum readiness actually requires. This is not a patch or a routine upgrade. “It’s not like a software update in the traditional sense,” he said. “It’s a massive impact to how we operate infrastructure in general.”

If quantum hardware capable of breaking classical cryptography is ever realised, Akinyele noted it will most likely operate silently. There will be no public announcement that the encryption underpinning digital assets has been compromised. 

Where XRP Ledger Stands

RippleX has published a roadmap reflecting the intention to be quantum ready and is actively engaging with development teams working on quantum-safe signature schemes for different use cases. Several teams have already approached RippleX to explore how their work might be integrated into the XRPL’s migration path.

Akinyele confirmed that RippleX has been in contact with the Ethereum Foundation, which expressed confidence that ETH will be ready. RippleX is now in active conversations with Ripple to ensure the same can be said for the XRP Ledger.

“This year is all about addressing the foundation,” Akinyele said. “People are seeing 23-year-old bugs in Linux kernels right now. This is the moment to use these tools to find all of the cracks in the XRPL foundation and evolve the architecture.”

Institutional DeFi Raises the Stakes

The urgency around quantum readiness is amplified by the direction the XRP Ledger is heading. RippleX is actively building infrastructure for institutional DeFi, including token issuance, collateral management, repo transactions, and yield generation, all using RLUSD as a foundational layer.

Institutions operating on-chain have an expectation of reliability, security, and deterministic settlement that consumer-facing applications do not require to the same degree. Meeting that standard means the quantum readiness question is not abstract. It is a prerequisite for the institutional use cases the XRP Ledger is being built to serve.

The post Clarity Act News: May Markup Confirmed as Stablecoin Compromise Clears the Last Major Hurdle appeared first on Coinpedia Fintech News

After months of stalling, the Clarity Act is finally moving. Senators Thom Tillis and Angela Alsobrooks released a stablecoin yield compromise late last week that effectively clears the path for a Senate Banking Committee markup. Senate Banking Committee Chairman Tim Scott confirmed the markup is happening in May. 

What the Banks Got and What They Did Not

The stablecoin yield language has been the central battleground for months. Banks pushed hard for broad restrictions on crypto exchanges paying rewards on stablecoin holdings. On the surface, the compromise extends those restrictions beyond issuers to cover third-party platforms including crypto exchanges, which looks like a win for the banking lobby.

But the detail in the language is where things get interesting. Coinbase chief legal officer Paul Grewal suggested the rewards language was either a complete capitulation to banks or had nothing whatsoever in it, implying it struck a balance that gives both sides something to claim. Coinbase CEO Brian Armstrong then posted two words: “Mark it up.” 

Who Holds the Real Power

Perhaps the most significant structural element in the released language is a referral mechanism that sends potential violations to the Secretary of the Treasury rather than leaving enforcement solely with the SEC or CFTC. In practical terms, that means Bessant holds meaningful interpretive authority over how the yield restrictions are applied. A pro-crypto Treasury Secretary effectively becomes a safeguard built directly into the legislation.

The New Name to Watch

One fresh obstacle has appeared. Senator Chuck Grassley, chairman of the Senate Judiciary Committee, is expected to weigh in on provisions around Section 1960, the statute that governs criminal liability for money transmission. The section could affect DeFi developers and software builders depending on how it is interpreted. Grassley has not been part of the conversation until now and represents a new variable as the bill approaches markup.

The Calendar Is Clear

The week of May 11 is when most observers expect the markup to happen. After that, June and July are the realistic windows for a final Senate vote, a return to the House for what is expected to be a straightforward approval, and a signing at the White House. If the bill does not clear the Senate before August, the midterm election calendar takes over and the window narrows considerably.

The post XRP News Today: Gulf Nations Question US Loyalty and Analysts Examine What That Means for XRP appeared first on Coinpedia Fintech News

The petrodollar arrangement that has underpinned global finance for decades is under more pressure than at any point in recent memory, and the Iran war is accelerating a shift that experts say began years earlier.

Gulf nations are openly questioning whether Washington’s security guarantees extend to them or exclusively to Israel. The UAE has left OPEC. And Iran is now reportedly charging tolls to pass through the Strait of Hormuz, demanding payment in cryptocurrency rather than dollars.

The Financial Times reported that Iran initially sought $2 million per vessel, with a more recent figure of $1 per barrel of oil, payable in the cryptocurrency equivalent. The specific token was not named. Analysts have noted it could be Bitcoin, Tether, or any number of assets including XRP.

Where XRP Enters the Conversation

The breakdown of dollar-denominated oil trade is forcing a fundamental question: what replaces SWIFT and correspondent banking in a multipolar world where nations no longer trust each other’s financial systems and cannot trust each other’s banks?

Analysts following the XRP ledger argue it is structurally positioned to answer that question. The ledger settles transactions in approximately three seconds at a fraction of a cent, eliminates the need for nostro and vostro accounts that tie up dormant capital in correspondent banking relationships, and operates as a neutral infrastructure that no single sovereign nation controls or can weaponise.

The comparison to how Russia was removed from SWIFT in response to the Ukraine conflict is not lost on BRICS nations watching the current situation. When a reserve currency can be used as a geopolitical weapon, nations holding that currency face existential financial risk. A neutral bridge asset that cannot be seized or sanctioned addresses that risk directly.

The CBDC Complication

Analysts note that XRP’s role in instant cross-border settlement also creates the technical conditions for central bank digital currencies to operate at scale. Programmable money that governments can target to specific populations and specific use cases is both a financial inclusion tool and, critics argue, a potential control mechanism depending on who is operating it.

The distinction analysts draw is between XRP itself, which cannot be seized or confiscated on the ledger, and stablecoins issued on top of the ledger, which remain subject to clawback features and issuer control. In a world moving toward programmable digital currencies, that distinction matters considerably to those thinking about long-term financial sovereignty.

The post Pi Network News Today: What Dr Fan and Kokkalis Will Say at Consensus Miami appeared first on Coinpedia Fintech News

Pi Network’s two co-founders will speak at Consensus Miami 2026 this week, presenting at one of the crypto industry’s most attended annual conferences at a moment when the network’s technical roadmap is moving at its most active pace.

Dr. Chengdiao Fan takes the stage Wednesday May 6 on the Convergence Stage with a session titled “Aligning Web3, AI and Blockchain for Utility.” Nicolas Kokkalis follows Thursday May 7 on a panel titled “How to Prove You’re Human in an AI World Without Doxing Yourself.”

Both sessions arrive four days before Protocol 23, Pi’s smart contract upgrade, is scheduled to activate on May 11.

Fan’s Session: Tokens and Sustainable Models

Fan’s presentation is expected to address how crypto projects build lasting utility rather than short-term speculation. Her core argument centres on how artificial intelligence is changing the competitive dynamics of building digital products, shifting advantage toward projects with verified users and authentic participation rather than speed of development alone.

Pi Network has 16.5 million migrated users and more than 17.7 million KYC-verified accounts across more than 200 countries. Fan is expected to present that user base as a data point in the broader argument about what constitutes real adoption in the current market environment.

The network shipped a subscription smart contract on testnet on April 17, enabling recurring on-chain billing. Fan is expected to reference this as an example of infrastructure designed for practical commerce rather than speculative use.

Kokkalis’s Session: Human Identity Online

Kokkalis addresses a problem that has become increasingly pressing as AI-generated profiles proliferate across the internet. His panel examines how blockchain-based identity verification can distinguish real users from synthetic ones without requiring those users to expose personal data.

Pi’s KYC system has processed more than 526 million verifications through over one million human validators. Kokkalis is expected to outline plans to make that verification infrastructure available to other projects via API, extending its use beyond Pi’s own ecosystem.

The Technical Context

The Consensus appearances arrive during Pi’s most active development period. Protocol 22 activated on April 27. Protocol 23 on May 11 introduces smart contracts and real-world asset tokenisation. Further upgrades are scheduled through June, targeting optimisation and scalability before a June 28 milestone.

Pi’s node network of over 350,000 operators has completed AI image recognition tasks in a proof of concept, a development the team has referenced in discussions about distributed computing infrastructure.

Market Position

Pi is currently trading around $0.18 with a market capitalisation of approximately $1.86 billion. The token accounts for the substantial majority of the mobile mining category by market value. Whether the Consensus sessions and Protocol 23 activation influence price in any meaningful direction will depend on how institutional and retail participants respond to the network’s technical progress in the days ahead.

The post When Will Bitcoin Price Hit $100,000 Again? appeared first on Coinpedia Fintech News

Arthur Hayes does not deal in vague timelines. Speaking at the Cointelegraph booth at Bitcoin Vegas, the BitMEX co-founder put a specific window on Bitcoin’s return to six figures: after the northern hemispheric summer.

“I think we’re going to hit $100,000 after the northern hemispheric summer,” Hayes said, “mostly because the dollar liquidity situation is improving.”

His reasoning is macro rather than technical. Wartime financing through commercial banks in the US and other economies is injecting liquidity into the system in ways that are beginning to show up in risk asset performance. Bitcoin, he argued, is already starting to outperform the NASDAQ and US tech stocks as a result of this dynamic, and he expects that outperformance to continue into the autumn.

On the question of whether new all-time highs are possible this year, Hayes was measured but bullish. “I think we could get through $125,000 by the end of the year.”

The Iran Variable

Hayes acknowledged the Iran conflict as the key risk to his timeline but said markets are already looking past it. He pointed to oil price spreads as evidence that supply is moving through the Strait of Hormuz in sufficient quantities to prevent a complete breakdown, even if politicians are publicly characterising the situation as unresolved.

“If you assume the Iran war is not going to get super duper messed up, then I think markets look past that,” he said. “There’s enough stuff coming through the street, even though the politicians claim it’s close.”

Where He Is Putting His Own Money

Hayes recently bought over a million dollars of Hyperliquid, describing it as the only altcoin that genuinely matters right now. His thesis is simple: real clients spending real money on a platform that is generating actual revenue and returning value to token holders through buybacks or staking rewards. Everything else, including Dogecoin as an altcoin season indicator, he dismissed entirely.

“If you’re not doing any of those things, I don’t care about you,” he said.