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South Korean Police Bust Two Organizations Laundering Money Through Virtual Assets, Involved in ?14 Billion Telecom Fraud

1 hours ago

June 16 — The Financial Crime Investigation Division of Seoul’s Metropolitan Police Agency has cracked two virtual asset-backed money laundering rings with combined illegal funds totaling over 14 billion South Korean won, Yonhap News Agency reported. One ring, made up of 9 people including a 45-year-old Chinese suspect identified as A, operated under the direction of a Cambodian telecom fraud syndicate. Between February 2024 and April 2025, the group purchased USDT on overseas crypto exchanges, moved funds between domestic and foreign trading platforms, and laundered roughly 14 billion won while collecting a 650 million won fee. Key suspects here have been referred to prosecutors: two were arrested, and the ringleader, 29-year-old Y, is on Interpol’s Red Notice. The second ring, with 14 members, directly laundered money for a Cambodian romance scam, handling about 2.8 billion won in illicit proceeds. Separately, 33 people have been transferred to prosecutors for offering unlicensed virtual currency exchange services to foreign tourists, involving 6.3 billion won in related transactions.
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A new address withdrew 573,000 HYPE from Coinbase

On June 16, a newly created wallet withdrew 573,001 HYPE tokens worth $39.88 million from Coinbase, according to monitoring by Onchain Lens.

5 minutes ago

Aletheia Capital Raises Micron Price Target Significantly to $1600

June 16 — Aletheia Capital issued a strongly bullish research report on Micron Technology (MU), significantly raising its price target to $1,600 and forecasting that AI memory devices will represent more than 70% of the value of AI hardware systems by 2027. In the report, Aletheia projects Micron’s fiscal 2027 earnings per share (EPS) will surge 8.5 times from current levels, with an additional 1.8-fold expansion in fiscal 2028—adding up to a cumulative 15x increase. The firm also estimates Micron will generate between $350 billion and $400 billion in cumulative free cash flow (FCF) from fiscal 2026 to 2028. On the pricing front, Aletheia’s upward revisions outpace market expectations. The institution now predicts average selling prices (ASPs) for server DRAM will climb 30% in the third quarter of 2026, far above its prior forecast of a 10% to 15% rise, followed by another 10% to 15% increase in the fourth quarter of 2026. For high-bandwidth memory (HBM), Aletheia forecasts its ASP w

5 minutes ago

A Certain Whale Borrows Coins to Short ETH and Further Increases Position by 9,000 ETH

June 16. Per Fintel Monitor, a crypto whale that’s been shorting Ethereum (ETH) recently added another 9,000 ETH to its short position immediately after ETH’s price rebound: the whale borrowed 9,000 ETH from Aave, transferred the assets to Binance, and converted them to 16.37 million USDT. The whale’s total short ETH position now amounts to 44,000 ETH, valued at $78.89 million at current market rates, with an average entry price of $1,702. It is currently facing an unrealized loss of $3.08 million.

5 minutes ago

The peak long position's unrealized gain in HYPE has reached $42.7 million, with the position size quadrupling.

June 16 — According to Hyperinsight monitoring, HYPE surged above $70, pushing the largest HYPE long position profit on Hyperliquid to $42.7 million. The whale behind this trade went long on 1.38 million HYPE tokens with 5x leverage at an average entry price of $38.67, bringing the total position value to roughly $96.1 million. The position has already generated a 400% return on investment (ROI). As of press time, the same wallet address (0x082e843a431aef031264dc232693dd710aedca8) withdrew a large amount of position margin again today, lifting its liquidation price to $53.39. Notably, following each round of price surges, this address has extracted significant profits as position margin, with cumulative withdrawals exceeding $20 million.

5 minutes ago

Bitwise purchased 77,097 HYPE tokens via FalconX 1 hour ago

June 16 – Per LookOnChain’s on-chain monitoring, asset manager Bitwise purchased 77,097 HYPE tokens via institutional trading venue FalconX roughly one hour ago, with the transaction totaling approximately $5.18 million.

5 minutes ago

HYPE Surpasses $70 Again, 24-hour Gain Reaches 7.1%

June 16th — According to HTX market data, HYPE’s price has once again topped $70, currently trading at $69.974 with a 7.1% gain over the past 24 hours.

5 minutes ago

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