Crypto Security Risks Amid Institutional Growth (2026-05-31)

U.S. Republican entrepreneur sells 10 Bitcoin to raise funds for congressional campaign

Republican fintech entrepreneur Michael Carbonara sold 10 Bitcoin for $800,000.00 to fund his congressional campaign and demonstrate his pro-crypto stance in this key battle as the electoral landscape shifts.

Beyond elections, Carbonara believes blockchain can also help governments improve the transparency of taxpayer funds.

[Odaily]

A man in Qingdao was sentenced to 10 years and 9 months for stealing 107 BTC from an acquaintance.

On May 31, according to the WeChat Official Account of Shandong Legal System Daily, the Jimo District People’s Procuratorate in Qingdao City announced a Bitcoin theft case. In 2024, victim Feng某某, preparing to cash out his Bitcoin, entrusted Zhang某某—based on trust—to assist with registering a cryptocurrency wallet. Zhang某某 seized this opportunity to obtain the wallet’s mnemonic phrase and subsequently logged into the wallet alone during the early hours, transferring a total of 107 Bitcoin in multiple transactions. At the prevailing market price that day, this amounted to over RMB 22.54 million.

In December 2024, the Jimo District People’s Procuratorate filed a public prosecution against defendant Zhang某某 for the crime of theft, citing an exceptionally large amount involved.

In April 2025, the Jimo District People’s Court issued a first-instance judgment, sentencing Zhang某某 to 10 years and 9 months’ imprisonment for theft and imposing a fine of RMB 100,000. After Zhang某某 appealed, the Qingdao Intermediate People’s Court ruled in November 2025 to dismiss the appeal and uphold the original verdict.

[PANews]

Nakamoto holds over 5,000 BTC; CEO spends nearly $1 million to increase holdings by 191,448 shares

Nakamoto announced that Chairman and CEO David Bailey purchased 191,448 shares of the company’s common stock on the open market between May 26 and May 28, 2026, at an average purchase price of approximately $5.19 per share, for a total investment of $992,837.61.

Following the transaction, David Bailey beneficially owns approximately 18.25% of Nakamoto’s issued and outstanding common stock. The announcement stated that the increase reflects his confidence in the company’s strategy, assets, and long-term growth prospects.

The company stated that it currently holds more than 5,000 Bitcoin.

[ChainCatcher]

Paul Chan: Funds from home and abroad cast vote of confidence, Hong Kong’s asset management business sees considerable growth

Hong Kong’s Financial Secretary Paul Chan Mo-po published a blog on May 31, stating that funds from home and abroad have cast a vote of confidence in Hong Kong, and Hong Kong’s asset management business has seen considerable growth. He said that an international consulting firm recently released the 2026 Global Wealth Report, estimating that Hong Kong’s cross-border wealth management assets under management grew by 10.7% year-on-year to approximately HK$23.00 trillion last year, surpassing Switzerland to become the world’s largest cross-border wealth management center.

It is expected that from now until 2030, the cross-border wealth managed in Hong Kong will grow by approximately 9% per year, which is also higher than the growth rate in Switzerland. This is a vote of confidence from funds at home and abroad in Hong Kong’s system and investment environment.

He mentioned that, according to the “Survey of Asset and Wealth Management Activities” published annually by the Securities and Futures Commission, the total value of Hong Kong’s asset management business has exceeded HK$35.00 trillion, of which 54% of the funds come from investors outside mainland China and Hong Kong, reflecting the continued consolidation of the internationalization of Hong Kong’s asset management industry. From a trend perspective, Hong Kong’s asset management business has seen considerable growth. In the 10 years from 2015 to 2024, the asset size has doubled, and the number of asset management institutions has nearly doubled.

[Odaily星球日报]

Data: SUI, EIGEN, OPN and other tokens will usher in large unlocks next week, with SUI unlocking approximately $13.10M in value.

On May 31, Token Unlocks data shows that tokens including SUI, EIGEN, and OPN will undergo large-scale unlocks next week.

Specifically:
– Sui (SUI) will unlock approximately 14.36 million tokens at 8:00 a.m. Beijing Time on June 1, representing roughly 0.36% of the circulating supply and valued at approximately $13.1 million;
– EigenCloud (EIGEN) will unlock approximately 36.82 million tokens at 12:00 p.m. Beijing Time on June 1, representing roughly 6.55% of the circulating supply and valued at approximately $7.8 million;
– Opinion (OPN) will unlock approximately 32.09 million tokens at 8:00 p.m. Beijing Time on June 5, representing roughly 10.89% of the circulating supply and valued at approximately $4.4 million;
– RedStone (RED) will unlock approximately 40.85 million tokens at 00:00 a.m. Beijing Time on June 7.

[PANews]

Argentine Authorities Arrest 24, Seize Over $50.00M in Crypto Assets

Argentine authorities arrested 24 people and seized over $50.00 million in crypto assets in a nationwide crackdown on suspected investment scams.

[Odaily]

A man in Qingdao, China, stole 107 BTC while “helping an acquaintance register a wallet” and was sentenced to 10 years and 9 months for theft.

Recently, the People’s Procuratorate of Licang District, Qingdao City, Shandong Province, handled a Bitcoin theft case. The defendant, Zhang某某, obtained the mnemonic phrase while assisting an acquaintance in registering a cryptocurrency wallet, and subsequently transferred 107 BTC in multiple transactions—valued at over RMB 50 million based on current market prices.

Zhang某某 claimed his actions constituted a “protective takeover,” but the procuratorial authorities confirmed that he laundered the stolen BTC through several exchanges and converted them into RMB 660,000. At first instance, the Licang District People’s Court convicted Zhang某某 of theft and sentenced him to 10 years and 9 months’ imprisonment, plus a fine of RMB 100,000; the second-instance court upheld the original verdict.

The case-handling prosecutor rigorously applied laws and judicial policies, and after thorough analysis concluded that although China’s regulatory framework denies virtual currencies their status as legal tender, it does not deny their property attributes nor prohibit citizens from lawfully holding or transferring them. Bitcoin requires investment of computational power, capital, and other resources to obtain, and thus possesses economic value; owners can exercise exclusive control and management over their holdings via private keys and mnemonic phrases—fulfilling the core characteristics of “property” under criminal law and qualifying Bitcoin as a legitimate object of theft.

Regarding the determination of the theft amount: because virtual currencies lack official pricing, the Licang District People’s Procuratorate abandoned market-price estimation and instead adopted the actual proceeds from the disposal of the stolen assets—RMB 660,000—as the basis for quantifying the theft. This approach ensured accurate conviction, appropriate sentencing, and consistency among offense, culpability, and punishment.

[ChainCatcher]

MiniMax: Plans to list on the STAR Market

According to the announcement of MiniMax Group Inc., the board of directors announced that it has resolved to explore the preliminary proposal to issue RMB shares, which may involve entering into agreements with professional consultants and consulting and negotiating with relevant securities or other regulatory agencies.

The company has hired professional consultants to provide advice on meeting the listing conditions on the Science and Technology Innovation Board and has signed a tutoring agreement. The proposed issuance of RMB shares will be subject to market conditions and necessary regulatory approvals.

[Odaily]

$91,000 of the stolen funds from Gravity Bridge has been frozen.

On May 31, according to on-chain analyst Specter, $91,000 of the stolen funds from the cross-chain bridge Gravity Bridge has been frozen, supported by ChangeNOW. The attacker still holds the majority of the stolen funds, which have not yet been transferred.

Earlier, according to on-chain analyst Specter, the cross-chain bridge Gravity Bridge was reportedly attacked, with its contract private keys appearing to have been compromised, resulting in approximately $5.40 million worth of assets being stolen.

[PANews]

Gravity Bridge Announces Shutdown After Attack

Cosmos ecosystem cross-chain bridge Gravity Bridge posted that the official team has confirmed a security incident and has urgently suspended bridging services to conduct an investigation. It also requested validators to suspend the operation of verification nodes and coordinators.

Previously, Gravity Bridge was attacked due to the leakage of its signature key, and approximately $5.40 million in assets were stolen.

[Odaily]

Fake Bridge Messages Let Hacker Drain $815,000 From Alephium

Alephium’s (ALPH) TokenBridge was drained of approximately $815,000 after an attacker exploited a flaw that allowed forged messages to pass through the protocol’s guardian network and authorize fraudulent token transfers. The Alephium team confirmed that blockchain security firm Blockaid was the first to detect the exploit. The Security Alliance’s SEAL_911 emergency response unit also provided assistance and responsiveness throughout the subsequent investigation.

The attacker moved funds from the Alephium TokenBridge on both Ethereum and BNB Chain in roughly seven minutes. On Ethereum, losses included 200,967 Tether (USDT), 17,594 USD Coin (USDC), 5.18 Wrapped Ether (WETH), and 0.335 Wrapped Bitcoin (WBTC). An additional 36,750 USDT and 24.386 Wrapped BNB were removed from the BNB Chain side of the bridge. The attacker also minted 13.76 million unbacked wrapped ALPH and transferred them directly to their wallet.

Alephium shut down the bridge and stated that it is exploring all options to make affected users whole. The incident adds to a worsening picture for cross-chain infrastructure in 2026. April crypto hack losses reached $606 million, and the May DeFi hack tally has continued to climb heading into June. A CrossCurve bridge exploit and a Hyperbridge exploit, both revised to $2.5 million, also contributed to the year’s total.

Developers built the Alephium TokenBridge on a fork of the Wormhole protocol, which relies on a guardian network to validate cross-chain messages. A quorum of guardians must sign off on any transfer, making the ability to inject fraudulent messages a high-impact vulnerability.

Initial reports attributed the breach to compromised guardian private keys, drawing comparisons to the Gravity Bridge key compromise that cost $5.4 million earlier in 2026. Alephium’s post-incident update contradicts that framing. The distinction matters. A key compromise points to an operational failure, while a forged-message attack indicates a flaw in how the bridge validated incoming data before presenting it to guardians.

A similar dynamic emerged in the Polkadot bridge exploit, where the attacker fraudulently validated transactions and minted unbacked tokens. Alephium said a full technical postmortem from its team is forthcoming.

JPMorgan Chase: Bitcoin and gold “debasement trades” cool down, investors withdraw from safe-haven assets

May 31st news, JPMorgan Chase analysts such as Nikolaos Panigirtzoglou stated that as signs of easing tensions in the Middle East appear, investors are gradually withdrawing from the Bitcoin and gold markets, and the “debasement trade” that once drove demand for both is losing momentum.

In the past two weeks, both Bitcoin and gold-related ETFs have experienced significant capital outflows, and institutional holdings in the CME futures market have also weakened simultaneously. This trend indicates that investors are withdrawing from macro hedge trades that were previously popular due to inflation concerns and global instability.

Currently, it is not a case of Bitcoin funds shifting to gold, but rather both types of assets are facing weakening demand at the same time. Bitcoin has been the main manifestation of the “debasement trade” since the Iranian conflict.

[PANews]

“Newly Promoted Stock God” Serenity: Sivers should transform into an American company and take Nasdaq listing as the first step.

Serenity, dubbed the “new stock market god,” posted on X stating that Sivers should fully transform into a U.S. company, with a Nasdaq listing as the first step. The company already possesses a U.S.-style capital structure, a large equity stake, and support under the CHIPS Act; such a transformation would unlock higher valuation premiums and M&A opportunities. Meanwhile, negative reporting by Swedish local media—unduly influenced by short sellers—is hindering the development of AI photonics, whereas the U.S. market offers greater financing opportunities and institutional, fund, and index support.

Serenity also recommended that Sivers retain its European operations as a subsidiary, centrally managed by the U.S. parent company—ultimately positioning itself as a leading U.S. optical communications enterprise, rather than being confined to just explaining its value within the Swedish market. Additionally, he hinted that Sivers’ management may already be pursuing a vision to build Sivers into the next U.S.-based photonics giant, akin to Lumentum.

[Odaily]

Robert Kiyosaki warns Bitcoin dip can still trap hype-driven buyers

Robert Kiyosaki has urged investors to rely on education and careful thinking as Bitcoin faces another price correction. The Rich Dad Poor Dad author said investors should not follow market hype without understanding what they are buying. His warning came as Bitcoin continued to trade under pressure after a recent pullback.

Kiyosaki said even assets often viewed as safe can still cost investors money if they buy at the wrong time or without a clear plan. He has long supported Bitcoin, Ethereum, gold and silver, but his latest comments focused more on financial education than price targets. He told followers not to “drink financial planners’ Kool-Aid” when they describe U.S. government bonds as safe. He also said, “There is nothing safe…from stupidity.”

Kiyosaki added that the most important asset is not Bitcoin, gold or silver. He said, “Always remember your greatest asset lies between your right ear and left ear.” Bitcoin’s latest correction has brought more caution back to the market. The asset recently traded near $73,700 after a three-day slide, with analysts watching whether buyers can hold key support.

Earlier reports showed that Bitcoin stabilized near $73,000 after geopolitical tensions, ETF outflows and leveraged liquidations weighed on market sentiment. The same analysis said bearish chart signals still pointed to risk of further losses. Kiyosaki’s message fits that backdrop. He has often told investors to buy scarce assets during market fear, but he also warned that buying only because others are excited can create losses. That makes his latest warning different from his usual bullish Bitcoin posts.

He still favors hard assets, but he says investors must understand cash flow, risk and timing before entering the market. Kiyosaki also urged investors to watch global cash flows. He pointed to major holders such as Japan and China reducing exposure to U.S. bonds while increasing interest in gold and silver. He has often criticized U.S. bonds, fiat currency and retirement products tied to traditional markets. In his view, inflation and rising government debt continue to reduce purchasing power.

As previously reported by crypto.news, Kiyosaki recently said Bitcoin and Ethereum may outlast old retirement plans. That report also noted that critics question his timing because some of his past crash calls did not happen within the periods he suggested. Kiyosaki remains calm during Bitcoin and Ethereum price swings. He has argued that national debt and dollar weakness matter more than short-term market moves.

Kiyosaki continues to hold a long-term preference for Bitcoin, Ethereum, gold, silver, oil and cattle. He has also said he does not own a 401k or IRA and avoids publicly traded stocks and bonds. However, he has also said he is not a financial advisor. He told followers that he shares what he is buying and why, but each person must decide with their own advisers. That point matters because his forecasts are often aggressive. In March, he predicted Bitcoin could reach $750,000 and Ethereum could reach $95,000 after a major crash.

For now, his latest message is more cautious. It tells investors to avoid blind trust in any asset class, including Bitcoin. The main message is simple. Bitcoin, gold and silver may attract buyers during inflation fears and market stress, but investors still need knowledge, patience and a clear plan before buying.

$91,000 of the stolen funds from Gravity Bridge has been frozen, while the majority of the funds have not yet been transferred.

According to Specter, they have collaborated with ChangeNOW to freeze $91,000 of the funds stolen from Gravity Bridge. The attacker still holds the majority of the funds, which have not yet been transferred.

Previously, it was reported that the Gravity Bridge contract keys were leaked, leading to the theft of $5.4 million in assets. The assets extracted by the attacker include $4.3 million in USDC, 274 WETH (valued at approximately $553,000), $434,000 in USDT, and $64,000 in PAYG. The involved addresses are 0x7B58…1F9 and 0x4d3c…A47.

[Odaily Planet Daily]

Speaker of the Iranian Parliament: No agreement will be approved until the rights of the Iranian people are guaranteed.

Iranian Parliament Speaker Ali Larijani stated in his opening speech at the first session of the third year of the 12th Parliament that diplomats—referred to as “warriors in the field of diplomacy”—place absolutely no trust in the statements or promises made by adversaries.

Iran’s sole criterion is the attainment of tangible, objective results; only upon achieving such results will Iran fulfill its corresponding commitments. Iran will not approve any agreement until the legitimate rights and interests of the Iranian people are fully safeguarded.

[Odaily]

Vietnam’s Ministry of Finance Proposes Allowing SMEs to Use Digital Assets as Collateral for Bank Loans

In a policy proposal aimed at improving access to financing for private enterprises and tech startups, Vietnam’s Ministry of Finance has proposed allowing small and medium-sized enterprises (SMEs) to use digital assets, virtual assets, and intellectual property as collateral for bank loans. This proposal has been incorporated into the revised draft of the “Law on Support for Small and Medium-Sized Enterprises,” which is currently open for public consultation.

According to the draft, the government seeks to diversify acceptable forms of loan collateral, moving away from overreliance on traditional secured assets such as real estate. The draft encourages credit institutions to expand lending based on credit ratings, business plans, market expansion potential, and corporate cash flow—rather than heavily relying on fixed-asset collateral.

Data shows that, as of the end of April, outstanding loans to Vietnam’s SME sector totaled only approximately 3.8 quadrillion Vietnamese dong (roughly USD 144.2 billion), representing about 20% of the entire banking system’s total credit volume.

[Odaily]

JPMorgan: Bitcoin and gold “de-risking trade” cools as investors exit safe-haven assets

JPMorgan analysts, including Nikolaos Panigirtzoglou, stated that as signs of easing tensions in the Middle East emerge, investors are gradually exiting Bitcoin and gold markets; the “debasement trade” that previously drove demand for both assets is losing momentum.

Over the past two weeks, ETFs linked to Bitcoin and gold have both seen significant outflows, and institutional positions in CME futures markets have also concurrently weakened. This trend indicates that investors are withdrawing from macro hedges that had been popular amid inflation concerns and global instability—not shifting funds from Bitcoin to gold, but rather facing weakening demand across both asset classes. Since the Iran conflict, Bitcoin has been the primary manifestation of the “debasement trade.”

[Odaily]

Data: 12 Hong Kong licensed virtual asset trading platforms saw a year-on-year increase of nearly three times in Q1 trading volume, and brokerage commission income increased by more than 80% last year.

In his latest speech, Mr. Wong Tin-yu, Chairman of the Securities and Futures Commission (SFC) of Hong Kong, revealed that Hong Kong has systematically expanded the range of products and services that licensed institutions may offer. This expansion includes providing professional investors with a broader array of products, piloting secondary market trading of tokenized products, launching financing services related to virtual assets, and establishing a regulatory framework for leveraged virtual asset products.

The 2025 trading volume across Hong Kong’s 12 licensed virtual asset trading platforms has already exceeded HK$640 billion; in Q1 of this year, trading volume surged nearly threefold year-on-year. Additionally, brokers engaged in virtual asset-related businesses saw commission income from such activities grow by over 80% year-on-year last year.

At the institutional level, Hong Kong will refine its comprehensive regulatory framework for virtual assets—covering key areas including custody, trading, asset management, and investment advisory services. Public consultation on the relevant licensing regime has now concluded, and the SFC will finalize legislative proposals in collaboration with Hong Kong’s Financial Services and the Treasury Bureau (FSTB), targeting submission of a bill to the Legislative Council in 2026. The goal is to establish a regulatory system fully aligned with international standards and strictly adhering to the principle of “same business, same risk, same rules.”

[Odaily]

Google software engineer charged with using confidential data to profit over $1.20 million on Polymarket

May 31st news, according to Bitcoin.com, Google software engineer Michele Spagnuolo has been charged with commodity fraud, wire fraud, and money laundering after authorities accused him of using confidential Google data to profit from Polymarket contracts.

According to the U.S. Department of Justice (DOJ), prosecutors say he profited more than $1.20M through a Polymarket account called “AlphaRaccoon.” The core of the case lies in Google’s “2025 Year in Search results.”

Prosecutors allege that Spagnuolo obtained internal search ranking data labeled “Google Confidential” and used it to trade contracts related to the person with the highest search volume in 2025 and the top five searched people.

[PANews]