Singapore's largest money laundering case suspect Wang Shuiming may be extradited to China, with his accomplice being the mastermind behind the Hong Kong crypto platform scam AAX.

**Hainan Regulator Alerts to Illegal RWA Trading; PBOC-Led Notice Bans Domestic RWA Tokenization** On March 24, Hainan Province’s local financial supervision bureau released a March 19 risk alert targeting illegal Real World Asset (RWA) transactions. Recently, some entities have promoted themselves under names like “Hainan International Data Asset Exchange,” “Hainan Data Exchange,” and “Hainan Sea Exchange,” claiming to legally offer RWA and Real Data Asset (RDA) services. These unapproved entities are operating as trading venues in violation of regulations, suspected of illegal financial activities that threaten public property security. The “Hainan International Data Asset Exchange” has not been approved in Hainan. Provincial government approval is required to establish a trading venue in the province; entities without authorization may not use terms like “exchange” or “trading center” in their names or conduct trading venue-related business. Separately, the People’s Bank

**March 24 (Xinhua) —** The Strait of Hormuz shipping industry has been hard hit amid escalating U.S.-Iran tensions, with multiple sources confirming a sharp drop in commercial vessel traffic, according to Xinhua. Market service firms report commercial ship transits through the strait have plummeted by roughly 95% since March, disrupting the global energy transport system. Specifically, only 144 vessels passed through between March 1 and 23—far below the pre-conflict daily average of ~138. Of these, 91 carried oil and gas, most heading east away from the strait to the Asian market. Meanwhile, some LNG tankers originally bound for Europe have rerouted to Asia (where spot prices are higher), reflecting a shifting supply-demand dynamic. Route shifts have also emerged: Current transiting ships cluster on a northern corridor north of Iran’s Larak Island—designated a “safe passage” by Iran, monitored visually, and cleared by relevant forces. UK shipping outlets confirm over 20 vessels

On March 24, per OnchainLens monitoring, an address affiliated with Forward Industries (a SOL Treasury-linked entity) withdrew 4,648 ETH from Kraken, valued at $9.95 million.

March 24 — Foreign media reports: An Iranian missile attack struck Tel Aviv, Israel, early Tuesday, damaging buildings and setting multiple cars ablaze. Israel’s emergency rescue service Magen David Adom (MDA) said there were at least four missile impact sites in Tel Aviv, with six people reported injured. Footage from the scene shows a heavily damaged building surrounded by billowing black smoke. Several floors of the building’s exterior facade are destroyed, with large amounts of debris scattered on the ground below. Earlier that day, the Israeli military had warned Iran had launched missiles. The Israel Defense Forces (IDF) also stated they are responding to “multiple” missile impact sites in Israel’s central region. (BlockBeats)

March 24 – Hong Kong-listed precious metals stocks surged again in the afternoon session. Zhaojin Mining (06693.HK) jumped over 9%, Zijin Mining (03939.HK) rose more than 8%, Lingbao Gold (03330.HK) gained nearly 8%, while Zijin Mining (01818.HK), Zijin Gold International (02259.HK) and Zijin Mining (02899.HK) all climbed 5%. On the news front, Zijin Gold International—Zijin Mining’s Hong Kong-listed platform—announced yesterday it will acquire a 25% stake in Chifeng Gold for 18.258 billion yuan via agreement transfer and private placement of additional shares.

**March 24: ICE Data Shows Abnormal Crude Futures Activity Preceded Trump’s Iran Tweet-Driven Oil Volatility** Before U.S. President Donald Trump’s Iran-related tweet sparked sharp international oil price swings, the crude futures market already saw notable abnormal activity—with large-scale short selling concentrated in a window closely aligned with the tweet’s timing, raising questions about potential wash trades or insider trading, per ICE data. Data shows that between 6:49 and 6:51 a.m. ET Monday (a two-minute window), at least 6 million barrels’ worth of crude futures contracts (covering Brent and WTI benchmarks) were dumped en masse. By contrast, the five-day average trading volume in the same window was just ~700 contracts (≈70,000 barrels)—making the recent trade nearly 9x larger. Roughly 14 minutes later, at 7:05 a.m. ET, Trump posted about the Iran situation. Sentiment shifted immediately, pushing crude’s intraday price down by as much as 14%. The sharp swing correla