E-Wallet Laundering Crackdown: Man Jailed for Cryptocurrency Cash-Out Scam

A Gansu court sentenced a man to over two years for laundering illicit funds through cryptocurrency. Posing as a courier, he withdrew cash in blind spots and converted it to digital assets, moving over 390,000 yuan in a week. The ruling highlights how offline cash collection fuels telecom fraud, warning the public against handling suspicious transfers.

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Whales in Distress: Bitcoin Major Holders Face Over $300M in Daily Losses During Q1, Signaling Prolonged Market Stress

On-chain data reveals Bitcoin's largest holders, known as 'whales' and 'sharks,' suffered severe losses in Q1, with combined daily losses exceeding $300 million. Year-to-date realized losses have reached $30.9 billion, nearing levels seen in the 2022 bear market. Persistent selling pressure from macro risks and weak sentiment suggests further downside risk, with no clear signs of capitulation yet.

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