Bubblemaps: Trove Markets project team quietly refunds pre-sales to KOLs

SEC acknowledges mistaken enforcement in crypto, 95 companies face cumulative penalties of $2.3 billion

The U.S. Securities and Exchange Commission (SEC) acknowledges that its prior enforcement actions against the crypto industry have had shortcomings, emphasizing that the focus should not be on the number of cases. Since February 2025, seven crypto cases have been withdrawn, with the goal of adjusting policy. The new chair, Atkins, is pushing for regulatory innovation, proposing a “safe harbor” mechanism designed to give compliant space to startup crypto projects and aiming to reshape the industry’s compliance path.

U.S. Department of Justice rejects Tornado Cash developer’s motion to dismiss; retrial countdown begins

The U.S. Department of Justice opposes the motion to dismiss filed by co-founder Roman Storm of Tornado Cash, arguing that the Supreme Court ruling he cited does not apply. Storm was charged with money laundering and other offenses for operating a cryptocurrency privacy protocol. The DOJ said that Storm was alleged to have knowingly allowed users to commit wrongdoing without intervening, and that Tornado Cash has no legitimate uses, causing serious harm to the entire ecosystem of crypto privacy developers and revealing contradictions in the Trump administration’s crypto policy.

Luxury crypto resort left overrun with weeds? Taizi Group is suspected of infiltrating the East Timor program

An investigation by The Guardian and OCCRP reveals that AB Digital Technology Resort in Timor-Leste is allegedly linked to the “Taizi Group,” a group subject to U.S. sanctions, and there is a huge gap between the resort’s promotional claims and the reality. The Taizi Group is known for online scams, and the geopolitical and governance issues it faces could make Timor-Leste a potential hotspot for transnational crime. The investigation shows that the plan will still be pushed forward, and the Timor-Leste government’s stance on the situation remains unclear.

The SEC’s approval of some crypto enforcement cases is unproductive; the $2.3 billion fine didn’t protect investors

The U.S. Securities and Exchange Commission (SEC) has recently approved some cryptocurrency enforcement actions that have not harmed investors, and is shifting its focus to substantive harmful conduct such as fraud and market manipulation. SEC Chair Atkins emphasized reallocating resources, reducing the overall number of enforcement actions, to strengthen the effectiveness of investor protection.

Drift Protocol: begins developing a recovery plan, participates in the STRIDE security program

Drift Protocol is developing a recovery plan to stabilize the situation and protect affected users, and to participate in the STRIDE security program by the Solana Foundation. This attack was orchestrated by a North Korean intelligence organization named AppleJeus, involving social engineering and technical infiltration, resulting in an estimated loss of about $285 million in funds, highlighting that the DeFi ecosystem faces major security challenges.

DoorDash accounts became a vulnerability in an encryption wrench attack; three suspects have been charged

Three men were indicted for participating in a crypto wrench attack. The method used in the crime involved using stolen delivery-app account credentials to get close to the victims, and then threatening them with violence to force them to transfer their crypto assets. This type of attack is not limited to San Francisco and has become a global problem, threatening the safety of cryptocurrency holders. Prevention recommendations include not disclosing holdings information, using different receiving addresses, and enabling two-factor authentication.