Distributed Denial of Wallet: Bounty set to recover around $42 million stolen three years ago
March 26 — Shen Bo, founder of Distributed Capital, announced that his personal wallet was hacked in November 2022, resulting in a loss of approximately $42 million. His team has continued three years of unbroken tracking efforts, securing key clues and evidence that have made the asset transfer paths increasingly clear.
Today, the team is publicly seeking additional clues and offering a reward: individuals or institutions making substantive contributions to asset recovery will receive 10% to 20% of the final recovered amount (based on their actual contribution), regardless of identity, background, or form. Those with valuable information are invited to reach out.
Three years ago, on-chain tracking and security investigation tools were far less mature than they are now. Today, AI-driven data analysis, on-chain forensics, and cross-platform collaboration capabilities have seen qualitative leaps. Special thanks go to all individuals and teams that provided prompt assistance.
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Sky Wallet Company holds approximately 2.135 billion SKY, with a market value of around $156 million
March 26th – Per EmberCN monitoring, Sky Treasury’s SDEV currently holds roughly 2.135 billion SKY across 7 on-chain wallets, with a market value of approximately $156 million. This includes about 31.6 million SKY in staking rewards (valued at roughly $2.31 million) and an average purchase cost of ~$0.065 per SKY.
On March 25th, SDEV’s latest purchase transaction saw 184 million SKY withdrawn from Coinbase Prime to an on-chain wallet, worth approximately $14 million.
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Coinbase Once Again Declines to Support Revised CLARITY Act
On March 26, the Cryptocurrency Market Structure Clarity Act (known as the CLARITY Act) hit another snag—this time facing pushback from Coinbase.
Coinbase representatives this week raised concerns in Senate offices, noting they do not support the latest version of the bill. The exchange’s key objection centers on the legislation’s “Stable Yield Provision”—not its first pushback on stablecoin yield rules. In January, Coinbase CEO Brian Armstrong pulled support for the bill over the same issue, saying: “We’d rather have no bill than a bad bill.”
The latest CLARITY draft explicitly bars crypto platforms from offering yields to stablecoin holders—whether rewards are provided “directly” or “indirectly”—especially when they resemble interest-bearing accounts. It also bans incentives economically equivalent to interest but carves out exceptions for limited activity-based rewards.
The bill aims to clarify U.S. cryptocurrency regulation, with its stablecoin yield rules emerging as a ma
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Trump Meme Coin Team Transfers 6.97 Million TRUMP, Suspected to Be Preparing for Sale
On March 26th, per Onchain Lens monitoring, the Trump meme coin project team transferred 6.97 million TRUMP tokens—valued at approximately $23.18 million—to a BitGo custody wallet, mirroring the operational pattern of its prior deposits to centralized exchanges (CEX).
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Iran Seeks Toll for Ships Passing Through Strait of Hormuz
March 26 (local time) — In the early hours, the chair of Iran’s Parliamentary Civil Committee stated the country is pursuing a bill to legally defend Iran’s sovereignty, control, and regulatory authority over the Strait of Hormuz while generating revenue via toll collection.
The draft legislation has been drafted but not yet finalized as a full proposal. It will be submitted to the parliament’s Research Center next week for refinement by the legal team, then formally filed once the legislature convenes to take up the proposal. Under the bill, Iran will levy tolls on vessels transiting the Strait of Hormuz. (CCTV)
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