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- Brazilian National Extradited Over $290M Bitcoin Fraud
Brazilian National Extradited Over $290M Bitcoin Fraud
Hodl Topic
February 23, 2025
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🌍 Daily Crypto Market Overview
Global Stats:
Cryptocurrencies: 11.82M
Exchanges: 796
Market Cap: $3.19T (+0.81%)
24h Volume: $69.06B (-50.44%)
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ETH Gas Price: 0.79 Gwei
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🪙 Top 5 Cryptocurrencies by Market Cap:
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Bitcoin (BTC) | $96,468.23 | +0.19% | $1.91T | $16.85B |
Ethereum (ETH) | $2,750.91 | +2.86% | $331.68B | $15.18B |
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📈 Preview On Today’s News:
- Brazilian National Extradited Over $290M Bitcoin Fraud
- Bybit CEO Considers Ethereum Blockchain Rollback After Lazarus Hack
- Ripple CEO Hints at Major Shift, XRP Case Resolution Near?
Keep reading below for more!
Today’s News:
1)
Brazilian National Extradited Over $290M Bitcoin Fraud
Douver T. Braga, a Brazilian national, has been extradited from Switzerland to the U.S. to face charges related to a $290 million Bitcoin fraud scheme linked to the Trade Coin Club (TCC). Braga, who pleaded not guilty to a 13-count indictment including wire fraud and conspiracy, allegedly operated TCC between 2016 and 2021, promising high returns through a non-existent automated Bitcoin trading system. U.S. prosecutors accuse Braga of misappropriating over 82,000 Bitcoin from more than 126,000 investors across 231 countries. He is also charged with major tax evasion for underreporting his cryptocurrency earnings. If convicted, Braga faces up to 20 years in prison for each of the 12 counts of wire fraud and one count of conspiracy.
Douver T. Braga is accused of defrauding over 126,000 investors worldwide through a fake Bitcoin trading platform, misappropriating over 82,000 Bitcoin.
Facing a 13-count indictment, including major tax evasion and conspiracy, Braga could receive up to 20 years in prison for each wire fraud charge if convicted.
2)
Bybit CEO Considers Ethereum Blockchain Rollback After Lazarus Hack
Bybit CEO Ben Zhou is exploring all avenues to recover funds stolen in the recent Lazarus Group hack, including a potential rollback of the Ethereum blockchain to invalidate the stolen assets. During a Feb. 22 X Spaces discussion, Zhou emphasized that such a decision would require community consensus rather than unilateral action. The Lazarus Group, linked to North Korea, currently holds around 489,395 ETH ($1.3 billion) and is moving funds across wallets to obscure their origins. Bybit has launched a 10% bounty program, potentially worth up to $140 million, to incentivize the recovery of the stolen crypto. Meanwhile, Tether and Bitget have taken steps to freeze and block transactions linked to the hackers.
Bybit CEO Ben Zhou is considering a blockchain rollback to recover stolen funds but highlighted the need for community voting.
The Lazarus Group, holding approximately $1.3 billion in stolen ETH, is actively moving funds, prompting Bybit to offer a 10% bounty for assistance in their recovery.
3)
Ripple CEO Hints at Major Shift, XRP Case Resolution Near?
Ripple CEO Brad Garlinghouse suggested that the SEC is moving away from its previous enforcement-heavy regulatory approach, signaling a potential shift that could impact the ongoing SEC v. Ripple lawsuit. His comments have sparked widespread speculation within the crypto community about a possible resolution to the legal battle that began in December 2020. While some remain skeptical, others believe this shift could pave the way for greater institutional adoption of XRP if the lawsuit concludes favorably.
Ripple CEO Brad Garlinghouse indicated a potential change in the SEC’s regulatory strategy, fueling optimism about the end of the XRP lawsuit.
Community reactions were mixed, with some anticipating greater XRP adoption, while others remain cautious, seeking official confirmation.
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