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A man was sentenced to 11 years in prison for profiting over 1.6 million yuan from the illegal sale of virtual currency

According to ChainCatcher news and reports from the Xiamen Procuratorate's official account, in September 2021, a man surnamed Chen met the victim, Hong, through a friend's introduction. At that time, Hong had a strong interest in virtual currency investment, and Chen had some knowledge in this area, so Hong entrusted Chen to assist with virtual currency investments, even carelessly sharing his account and login password with him.While helping a friend invest in futures, Chen suffered significant losses that left him overwhelmed with debt, leading him to develop malicious thoughts. At the end of September 2022, Chen fabricated a story about his account being disconnected to deceive Hong into providing various verification codes. He then successfully changed the account's login password and replaced the linked email with his own. Subsequently, Chen repeatedly claimed that the account was disconnected and used real-time verification codes to secretly transfer the virtual currency from Hong's account to his own. He quickly sold these virtual currencies, making a profit of over 1.6 million yuan, which he used entirely to repay his personal debts.The Huli District Procuratorate legally prosecuted Chen for theft. According to Article 264 of the Criminal Law of the People's Republic of China, theft of public or private property, with particularly large amounts or other particularly serious circumstances, is punishable by more than ten years of fixed-term imprisonment or life imprisonment, and may also involve fines or confiscation of property.After hearing the case, the court sentenced Chen to eleven years in prison for theft and imposed a fine.

Coingecko: In Q1 of this year, the total market capitalization of the crypto market fell by 18.6% to $2.8 trillion, while Bitcoin strengthened its dominant position against the trend

ChainCatcher news, according to the Coingecko quarterly report, the total market capitalization of cryptocurrencies fell by 18.6% to $2.8 trillion in the first quarter of 2025. Bitcoin further solidified its dominance in the market downturn, with its market share rising to 59.1% (a new high since 2021), while altcoins generally performed poorly. The shares of stablecoins USDT and USDC increased, while Ethereum's market share dropped to a five-year low of 7.9%.​1. Bitcoin outperforms traditional risk assetsBitcoin broke through $100,000 in January, reaching an all-time high, but ended the quarter at $82,514 (a decline of 11.8%). Its performance outpaced the Nasdaq index (down 10.3%), but lagged behind gold (up 18%) and U.S. Treasury bonds. Analysts pointed out that the strengthening of the yen and euro, adjustments in monetary policy, and geopolitical uncertainties have intensified market volatility.​2. Ethereum and altcoins under pressureEthereum's price plummeted 45.3% to $1,805, erasing all gains made in 2024, with daily trading volume shrinking to $2.44 billion. Leading altcoins like Solana (SOL), XRP, and BNB experienced smaller pullbacks, highlighting Ethereum's relative weakness. Meme coins suffered a significant setback due to the exit of Argentine President Javier Milei's related project LIBRA, with daily token deployment on the Pump.fun platform dropping by 56.3%.​3. Changes in exchange landscapeThe spot trading volume of centralized exchanges (CEX) decreased by 16.3% to $5.4 trillion, with Binance maintaining a market share of 40.7%; HTX became the only platform in the top ten to see growth (+11.4%), while Bybit's trading volume was halved due to a hacking incident in February. Among decentralized exchanges (DEX), Solana led Q1 with a 39.6% share, but Ethereum briefly reclaimed the top spot in March. The total value locked (TVL) in DeFi fell by 27.5% to $12.86 billion, while the new public chain Berachain's TVL rose against the trend to $5.2 billion.
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