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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.

2025.03.04 00:16:16

On March 4th, as reported by NetEase's PingWest Team, Wang Shuiming, who is from Anxi, Fujian and was involved in Singapore's largest money laundering case, has been arrested in Montenegro and is set to be extradited back to China. Wang Shuiming's partner, Su Weiyi, has been confirmed to be the mastermind behind the Hong Kong cryptocurrency exchange scam AAX and was apprehended by the Hong Kong police in July 2024. In November 2022, the Atom Asset Exchange suddenly suspended withdrawals and subsequently shut down, with Su Weiyi absconding with 16.74 million Hong Kong dollars (approximately 15.675 million yuan) in funds. In July 2024, Su Weiyi was arrested by the Hong Kong police. It is worth noting that Su Weiyi, along with other partners, owns other companies that have connections to convicted Filipino-Chinese former mayor Alice Guo.
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Escalation of Middle East Tensions Leads to Backlog of Oil Tankers outside Strait of Hormuz

March 1 – Dozens of vessels are gathered in waters off Iran, Iraq, Kuwait and the UAE outside the Strait of Hormuz, while dozens more are anchored off coasts outside the strait, per Reuters estimates. At least 150 tankers (including crude oil and oil product carriers) are anchored in the Persian Gulf awaiting transit through the Strait of Hormuz. Separately, at least 100 additional tankers are anchored near the coasts of the UAE and Oman outside the strait. (FX168)

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Cryptocurrency Fear and Greed Index Rises to 14, Market Still in "Extreme Fear" Territory

As of March 1st, alternative data shows today’s cryptocurrency Fear & Greed Index stands at 14 (up from 11 yesterday), indicating the market remains in "extreme fear" territory. Note: The index ranges from 0 to 100, with components including: Volatility (25%), Market Trading Volume (25%), Social Media Hype (15%), Market Surveys (15%), Bitcoin’s Market Dominance (10%), and Google Trends Analysis (10%).

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X Platform Bans Cryptocurrency Payment Promotion Not a New Rule

**X Platform’s March 1 "Paid Partnership Policy" Notice (Crypto in Prohibited Promotions) Confirmed Not a New Rule** Per web archive site Archive.org, the cryptocurrency industry has been listed as ineligible for paid partnership promotions since at least June 2024. Key latest policy updates: - Disclosure rule: Changed from "must include #ad" to "must clearly label ‘Ad’ or ‘Promoted Content’" - Reporting channel: Shifted from "email reporting" to "form-based reporting" - New addition: An "exception handling" clause This notice does not introduce a new ban on crypto promotions, as the industry has been excluded from paid partnerships for months.

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Polymarket Prediction: Probability of "Bitcoin Falling to $50,000 This Year" Drops to 62%

As of March 1, the probability of Bitcoin dropping to $50,000 this year on Polymarket has fallen to 62%. Additionally, the odds of BTC rising to $80,000 within the year are currently 72%, while the probability of it hitting $90,000 stands at 47%.

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Rug Pull: In February 2026, $26.5 million was stolen from the crypto space, a 98.2% year-on-year decrease.

On March 1, blockchain analytics firm PeckShield reported that the crypto industry saw 15 total hacking incidents in February 2026, leading to cumulative losses of $26.5 million. This marked a 98.2% drop from February 2025 (when losses hit $1.5 billion, with Bybit accounting for $1.4 billion of that) and a 69.2% decline from January 2026 (which recorded $86.01 million in losses).

10 minutes ago

Iranian Stock Market Halts Trading Until Next Week

March 1: Iran’s stock market has suspended trading through next week, a spokesperson for the Iran Securities and Exchange Organization said. Only stock trading is currently halted, the official noted, with details on operational arrangements for the spot market and other capital market segments to be announced later. (CCTV News)

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