Regarding the US government's seizure of Bitcoin belonging to Cambodian telecom fraudster Chen Zhi, a key conclusion needs to be clarified first: this event did not undermine the core security logic of Bitcoin technology itself, but it profoundly revealed that in the real world, Bitcoin's security heavily depends on the user's actions and completely shattered the common misconception that Bitcoin is 'completely anonymous' and 'untouchable by law enforcement.' The Story of Chen Zhi Chen Zhi, a young man from Lianjiang, Fujian, has built a criminal network that extends to more than 30 countries around the world in just over a decade. Around 2000, he dropped out of school and came to an internet cafe to work as a network...
According to a report by American financial media CNBC on October 15, U.S. law enforcement agencies uncovered a large-scale 'pig-butchering' scam in Cambodia, seizing 127,271 bitcoins held by the mastermind behind it, with a total value of about $15 billion. This is the largest confiscation operation in the history of the U.S. Department of Justice. The U.S. Federal Court in Brooklyn, New York, announced an indictment on October 14, accusing 37-year-old Chen 'Vincent' Zhi and others of conspiracy to commit wire fraud and money laundering. Zhi is currently at large and is believed to still be in Cambodia. If convicted, he could face up to 40 years in prison. "As alleged, the defendants are the masterminds behind a vast wire...
Bitcoin's done 2,700% from its Covid low, with a $2.1 trillion market cap. It used to be chaotic, but that's part of the fun.Tons people google"how to mine bitcoin". You never knew what would happen next. Some random coin would surge 1,000% in a week and become all the rage. People were arguing, speculating, and trying new things. It used to be vibrant. Now it feels like silence. ETH, ADA, SOL, etc. all have similar stories... The market is essentially flat, interest is low, and even when new products are launched, no one seems to be interested. NFTs were all the rage, then quickly faded. Now most platforms are deserted. DeFi also feels quiet. Most people are probably just watching....
US President Trump announced on March 2, 2025 that he is considering including five cryptocurrencies in the US new cryptocurrency strategic reserve. This news triggered a significant rise in the cryptocurrency market. According to US media, during the 2024 US presidential election, Trump gained support from the cryptocurrency industry and quickly took action to support its development. In recent weeks, Trump and his wife Melania have been accused of attempting to profit from White House policies by launching their own exclusive cryptocurrency. Here is a summary and discussion of various messages: 1. Cryptocurrencies included in reserves Trump announced on his social media platform "Truth Social" that he plans to include the following five cryptocurrencies in his strategic reserves: Bitcoin (BTC)...
As is well known, many government departments around the world are crazily storing Bitcoin in 2025! Especially in the United States, the Federal Reserve Act on Bitcoin is still in its early stages of review and discussion by committees, but multiple states have already launched a cryptocurrency reserve race of 'you fight me, you chase me' Arizona and Utah, which have made the fastest progress, have entered the Senate review process: From a timeline perspective, the action is still very fast, taking Utah as an example: the bill was only submitted on January 15, 2025. Less than a month later, it was voted through on February 6th. According to this progress, maybe the Senate can pass it next month....
