EncryptionChapterThree

$7.2 million, THORChain router hacked.
Cyvers detected abnormal transactions across multiple networks including Bitcoin, Ethereum, BSC, and Base, involving over ten assets such as USDT, USDC, WBTC, DAI, all exchanged into ETH and then consolidated into the same address.
This is not the first time THORChain has been hacked.
This protocol handles cross-chain liquidity—you transfer from Bitcoin to Ethereum, and THORChain manages the routing. Once the router is compromised, the assets flowing through become the hacker’s withdrawal machine.
What’s interesting this time is the "assets unifie

Another project called out by ZachXBT.
The LAB token surged to a $6 billion FDV, but behind the scenes—
It’s opaque, token distribution hasn’t been disclosed, investors and trading platforms overlap heavily, and insiders control more than 95% of the tokens.
Every sentence is a red alert.
Let’s break down this team’s “achievements”:
First, they unilaterally change the lock-up period.
The public sale lock-up was changed from 3 months to 9 months. This is basically telling public sale participants: “Your coins—our decision.”
Second, they withhold marketing fees, give KOLs and whales special treat

2.8 million USD, cross-chain bridges are hacked again and again.
TAC's TON side was attacked, involving USDT, BLUM, tsTON. The announcement said that TON and ERC-20 are unaffected—this kind of "partially affected" wording always sounds tiresome.
The key sentence is: "Sell the foundation’s TAC token reserves through a legitimate structured approach to compensate users."
Translate: We're about to sell tokens.
Using the foundation’s reserves to compensate users is better than just running away directly. But the phrase "structured sale" implies—
We will try not to break through the order book, but

Ondo Finance, JPMorgan Chase, Mastercard, Ripple—these four names appearing in the same project is news in itself.
On-chain redemption of tokenized U.S. Treasuries, settled within 5 seconds—cross-border, cross-bank, 24/7.
The process is as follows:
Ondo processes the redemption of OUSG (tokenized short-term U.S. Treasuries) on the XRP Ledger → Mastercard’s multi-token network connects on-chain assets with fiat currency → JPMorgan Chase’s Kinexys completes the USD delivery to Ripple’s Singapore account.
All of it takes less than 5 seconds, completed outside banking hours, with no manual operati

Iran talks hit a dead end on Sunday, and on Monday Trump convened a national security meeting to revisit military options.
Diplomacy is dead.
The only keyword in this news is: “refusal.”
Iran rejected many of Trump’s demands, refusing to make “meaningful concessions” on the nuclear program. The word “meaningful” is crucial—it suggests Iran may have made some symbolic concessions, but what Trump wants is substantive, comprehensive constraints on the nuclear program.
Once diplomacy has reached this point, it basically means: one side is naming outrageous prices, the other is countering with what

Futu Subsidiary
moomoo obtains a U.S. prediction market regulatory license, becoming one of the first online brokerages to legally offer "event contracts."
Event contracts = binary outcome predictions. You bet on whether something will happen or not, win money if you're right, lose everything if you're wrong.
From Polymarket to Kalshi, and then to moomoo—the prediction market track is shifting from the "gray area" to "licensed operation."
What does this mean?
Regulators are using a "peace offering" approach, bringing prediction markets into the legitimate financial system.
CFTC approval means

The Hormuz Strait crisis has dragged on until now, and the market has invented a new term:
NACHO = Not A Chance Hormuz Opens (No chance the Hormuz Strait will open).
Replacing the previous TACO = Trump Always Chickens Out.
This shift itself is a signal—
TACO's premise is "Trump will back down, a ceasefire will be reached quickly."
NACHO's premise is "Forget it, it's impossible to resolve in the short term."
The core logic of NACHO:
First, insurance companies refuse to insure ships passing through the Hormuz Strait—risks are too high, premiums are too steep.
Second, oil prices remain high, driv

The S&P and Nasdaq hit a new all-time high for the third time this week, with the chip index rising 5.5%, and Intel soaring 14% in a single day due to its Apple manufacturing agreement.
U.S. stocks are on a record-breaking run, without even catching their breath.
Getting the Apple manufacturing deal is a big deal for Intel—
Currently, Apple’s core manufacturing is almost entirely dependent on TSMC. If Intel can truly break into Apple’s supply chain, it means:
Apple is diversifying supply chain risks (geopolitical considerations)
Intel’s manufacturing technology is finally gaining recognition f

The South Korean National Assembly has fully passed the "Foreign Exchange Transactions Act" amendment.
The core of this amendment is: redefining "virtual asset cross-border transfer services" and requiring exchanges and custodians to register with the Ministry of Economy and Finance.
Don't understand? Here's a plain language translation—
From now on, transferring virtual assets from Korea overseas is no longer "casual transfer." You must go through a registered entity and declare it.
Accompanying this are stricter penalties: up to one year in prison or a fine of 100 million won (about 70k RMB)

It's the fifth time.
From 3:40 to 4:10 a.m. on May 7th, the quietest trading period in the early morning Eastern Time, the WTI crude oil futures market suddenly saw nearly $1.7 billion in short positions, establishing nearly 10k contracts. Seventy minutes later, Axios reported that the US and Iran were close to reaching the "14-point agreement," causing oil prices to plummet over 12%, with short-term profits reaching as high as $125 million.
$1.7 billion, at 4 a.m., with no news catalyst, precisely building positions.
This cannot be explained by "technical analysis," nor by "oil prices just ha

During Labor Day: Trump's "Freedom Plan" suppresses oil prices → risk appetite rebounds → BTC rises above 80,000.
Then: Fouchier oil tank attack → Brent surges to $114 → plan is forced to pause → US-Iran game intensifies.
Between 80,000 and $114, there is a distance of a missile.
Fouchier's location is crucial — within the UAE, outside the Strait of Hormuz, an important chokepoint for Persian Gulf oil exports. The oil tank is bombed, and the market immediately prices in "supply disruption risk."
Brent jumps from over $90 to $114, a four-year high. This increase is not driven by fundamentals bu

3.46 million yuan, stolen by a "netizen."
Sichuan Gaoping Public Security solved the case, caught the person, and recovered over 600,000 yuan.
3.46 million yuan → 600,000 yuan, recovery rate about 17%.
This is the cruelest part of scams—catching the person, recovering some money, but victims are unlikely to get back all their principal.
You've seen this script countless times:
Act One: Seeing virtual currency investment ads online, "Guaranteed profit with no loss."
Act Two: Making the first trial of 20,000 yuan. Deng Mouhui posts daily profit screenshots.
Act Three: "Invest more this time, hig

71 months—roughly 5 years and 11 months.
Sze Man Yu Inos specifically targets elderly women in Saipan and Guam, using the line “You’re just like my mother” to open the door to trust.
This is not an ordinary “pig-butchering” scam; it’s a compound fraud combining emotional manipulation and cryptocurrency.
Most scams talk about “high returns”—hundredfold coins, profitable quantitative trading, AI algorithms that take you soaring.
She uses a different script: “emotional connection.”
First, she spends time building a relationship so you feel like you’ve encountered a “benefactor” or “a family membe

$430 million—15 minutes before the ceasefire agreement was announced.
This isn’t “suspected.” This is “clear-cut trading.”
Let me walk you through this month’s list—
March 23: a $500 million short position, 15 minutes before Trump announced the delay of strikes on Iran.
April 7: a $950 million short position, a few hours before the ceasefire agreement was made public.
April 17: a $760 million short position, 20 minutes before Iran opened the Strait of Hormuz.
April 22: a $430 million short position, 15 minutes before the ceasefire was extended.
Total for April: about $2.1 billion.
Every time i

Prediction markets are about to transform into exchanges.
Kalshi wants to do crypto trading, and Polymarket plans to launch perpetual futures—Gold, Nvidia, BTC, Apple—where you can take leveraged long and short positions.
Their two companies’ core products were originally “prediction markets”: you bet on whether something will happen, and the odds are set by the market. Now, what they want to do is derivative trading in the traditional sense.
Why the shift?
Because the ceiling for prediction markets is too low.
Betting on “Can Trump win the election?” or “Will the Federal Reserve cut interest

Russia is planning to criminalize unlicensed cryptocurrency transactions, with a maximum sentence of 7 years of forced labor. This move is truly a textbook example of “wanting it both ways.”
On one side, previously cryptocurrency was allowed for international trade settlement; on the other side, now they want to pursue criminal liability for the circulation of cryptocurrencies within the country, with a maximum of 7 years of forced labor.
Is the logic self-consistent?
Yes, because Russia’s attitude has never been “support cryptocurrencies,” but rather “support cryptocurrencies when they’re use

South Korea's National Tax Service is serious this time.
They introduced Chainalysis and TRM Labs for bidding, tracking 70 million types of virtual assets, 45 blockchain networks, and identifying mixers—officially starting in July.
The most intriguing part of this news is this sentence:
"Can track non-custodial wallets like MetaMask, Phantom, and to some extent identify wallet ownership and assets held."
What does that mean?
Chainalysis's tracking logic isn't hacking into your MetaMask, but rather: when you withdraw funds from a CEX to a certain address, your KYC information is linked to that

Do you remember the textbook-style script of RAVE?
Act One: Deposit into CEX to fake a move → Attract short sellers.
Act Two: Withdraw tokens and pump the price → Short squeeze.
Act Three: Price rises from $6 to $10 → Repeat the cycle.
Now, the same address just deposited 20 million RAVE tokens into CEX again 10 minutes ago.
Is this a dump, or a "fake dump"?
I don't know.
This is the cunning of this address — it has already built a "brand." When the market sees "RAVE address deposits again," the first reaction is:
Wait, is this real selling or just a show?
Uncertainty itself is a weapon.
Actu

Hong Kong Financial Secretary Paul Chan made a lot of fancy statements at the Web3 Carnival—"a crucial turning point," "heading towards maturity," "game changer."
Translate the politician's rhetoric:
"Crucial turning point" = Last year was also a turning point, the year before too, every year is a turning point.
"Heading towards maturity" = It was indeed immature before, but the phrase "heading towards" is clever because it's always on the way.
"Game changer" = Every time new technology comes out, people say this. AI + Web3 is just the latest combination.
But one thing he’s right about — the i