Hormuz Strait Closure Rumors Spread as Mega Whale Temporarily Takes $7.7M Long Oil Short ETH Combo Position

March 27 (Caixin) — Over two months after Chen Zhi, founder of Cambodia’s Prince Group, was detained, the UK has imposed additional sanctions on a Southeast Asian fraud network—including Hu Xiaowei, a close associate of Chen. The UK government labeled Hu Chen’s “longtime partner” in the Prince Group, noting ties to private servers of the game *Legend*. The pair later co-founded companies both in China and overseas. The sanctions notice, published on the UK government’s website March 26, targets multiple individuals and entities linked to the Prince Group. Thirty-eight-year-old Chen was born in a fishing village in Fujian. He previously ran an internet café and worked as a network administrator, launching his career as a hacker by seizing control of *Legend* private servers. More than a decade ago, he moved to Southeast Asia and became a Cambodian citizen. Within years, he controlled a global online fraud network, raking in millions daily from his “Duke” role and amassing a net wo

On March 27, The Wall Street Journal reported that Intercontinental Exchange (ICE) has announced a $600 million investment in Polymarket.

March 27 — Per data from GMGN, Solana-based meme coin WhiteWhale has plummeted roughly 50% today, with a current market cap of $12 million and 24-hour trading volume of $5.4 million. Renowned trader The White Whale announced his formal departure from WhiteWhale’s leadership role today, having permanently locked 5 billion WhiteWhale tokens in one transaction—valued at approximately $13 million at the time of locking. His exit stems primarily from a family crisis, compounded by ongoing community demands for “more aggressive price pumps,” which left him exhausted and gradually eroded his passion for cryptocurrency. The meme coin was initially created by fans using The White Whale’s avatar from platform X and Hyperliquid. It was later taken over by the trader himself, who significantly increased his holdings through large-scale purchases. BlockBeats reminds users that meme coin trading is highly volatile, relying heavily on market sentiment and hype. These tokens have no real valu

March 27th — Per EmberCN monitoring, an ancient Bitcoin whale that hoarded 5,000 BTC 13 years ago transferred 500 BTC to Binance for sale 10 minutes ago, worth roughly $33.28 million. The whale purchased the BTC at an average price of $332 in 2013; only 1,000 BTC remains now. After accumulating 5,000 BTC in November 2013, the whale began selling in November 2024. To date, it has transferred 4,000 BTC (valued at $365 million) to Binance at an average price of around $91,258, netting a profit of $363 million.

On March 27, Israeli Defense Minister Benny Gantz stated that the Israeli Defense Forces (IDF) will further escalate strikes against Iran, expanding their scope to cover more targets and regions. He made the comments during a situation assessment meeting with senior IDF officials, emphasizing that Israel had previously warned Iran to stop launching missiles at Israeli civilians—but Iran persisted in the attacks. Consequently, the IDF will intensify its strikes against Iran. (CCTV)

March 27 — Per monitoring by HyperInsight (https://t.me/HyperInsight), the Ethereum address "pension-usdt.eth" (0x0ddf...) has consecutively closed out 126.13 BTC in short positions, totaling approximately $9.2259 million in value. Following this take-profit round, the total value of its BTC short positions has fallen from roughly $30.21 million to $24.8386 million. The position currently holds a floating profit of around $915,000, with a return rate of 11.05% and an average entry price of $68,884.20.