ChainCatcher news, according to Southeast Network, the Mawei Court in Fujian recently concluded a virtual currency trading dispute case. A man named Sui paid 18,000 yuan to Ye to purchase virtual currency, which led to a dispute, and he requested the return of the full amount.The court ruled to dismiss the claim, stating that virtual currency does not have the status of legal tender in China, and related transactions violate public order and good morals, thus are not protected by law. The investment risk should be borne by the individual.

ChainCatcher news, according to Ping An Wuhan reports, the Wuhan Qingshan police recently successfully solved a virtual currency trading fraud case, recovering 200,000 yuan in losses for the victims. The suspects committed the fraud by using the "coin chopping" method, claiming they had not received the virtual currency transferred by the victims and refusing to pay the agreed amount in RMB. Currently, two suspects have been criminally detained in accordance with the law. The police remind that transactions related to virtual currencies are not protected by law.

ChainCatcher news, reported by The Block, that the Paradigm-backed startup Succinct has launched the next-generation zero-knowledge virtual machine SP1 Hypercube.The company stated that SP1 Hypercube can generate zero-knowledge proofs for Ethereum blocks in 12 seconds.

ChainCatcher news, Virtuals Protocol announced on platform X that proxy staking is now live. The era of passive holding is over. Staking has now become the standard way to earn points in the Virtuals ecosystem.The transition period will end on May 22 at 3 PM (GMT+8). Users need to transfer their proxy tokens to the staking contract by May 22 (Thursday) at 3 PM (GMT+8). After that, only staked proxy tokens will be eligible to earn points.Eligible contracts include: staking contracts issued by Virtuals; whitelist contracts with a 14-day unlock cooling period. The team will publicly confirm the staking-specific qualifications after they take effect. The staking contract launched today: approximately 70 projects (including Genesis and standard issuance projects) have been confirmed to launch staking contracts today. Virgens can now stake their proxy tokens and start earning points.Execution rules: After May 22 at 3 PM (GMT+8), only staked proxy tokens can earn points; whitelist contracts must include a 14-day unlock cooling period; projects using custom contracts have 2 weeks to migrate or adjust to meet staking requirements.

ChainCatcher news, according to official reports, a typical case recently released by the Haidian Court reveals that a user manager of a certain network technology company took advantage of his position to accept bribes and embezzle virtual currency in a virtual currency reward business, with a total amount involved of 9.74 million yuan.The user manager was sentenced to 12 years in prison by the court for the crime of accepting bribes as a non-state worker and for embezzlement. The case shows that from 2014 to 2019, the defendant obtained 6.08 million yuan in bribes by introducing supplier cooperation and profited 3.66 million yuan by cashing out part of the virtual currency through multiple accounts. This case is the longest prison sentence for corruption crimes committed by internal personnel of internet companies in the past five years.

ChainCatcher news, recently, the Haidian Court, in conjunction with the China Internet Association, released the "White Paper on Corruption Crimes by Internal Personnel of Internet Enterprises" and published typical cases.In one case, a user manager of a certain network technology company introduced a supplier to cooperate on virtual currency business, accepted bribes, and embezzled virtual currency for cashing out. Ultimately, the court sentenced him to nine years in prison for bribery and six years for embezzlement, deciding to execute a total of twelve years in prison.

ChainCatcher news, according to a report by Hongxing News, Sichuan Public Security has released 10 typical cases of economic crimes, including the "2 • 6" illegal operation (foreign exchange) case. In this case, since August 2021, Fan, He, Chen, and others set up studios and technology consulting companies in Chengdu, using social networking software to conduct targeted traffic for specific clients. They colluded with domestic agents of overseas foreign exchange institutions to provide illegal cross-border RMB exchange services through methods such as cashing out overseas gift cards and virtual currency trading, with a total amount involved exceeding 3.9 billion yuan. A total of 21 criminal suspects were successfully apprehended in this case, which concluded its investigation in December 2024 and was transferred for prosecution.

ChainCatcher news, the AI agent platform Virtuals Protocol announced on social media that the VIRTUAL staking feature is now live. By locking VIRTUAL, users will receive veVIRTUAL, which is the voting escrow version of the token, representing long-term collaboration, deeper utility of the protocol, and future governance power.Starting today, 20% of all Virgen Points will be allocated to veVIRTUAL holders, replacing the previous mechanism where simply holding VIRTUAL was sufficient to earn points, marking a shift in the participation reward system of the Virtuals ecosystem.

ChainCatcher news, according to the Ping An Xianning official account, recently, the police discovered a criminal gang led by Tang Moumou that set up multiple network devices to illegally access the international internet through unauthorized channels, using foreign software to engage in illegal virtual currency and foreign exchange transactions. Five individuals involved were apprehended on the spot, and all equipment used in the crime was seized. The public security authorities have imposed administrative penalties on Tang Moumou and six others, and the case is currently under further investigation.In October 2023, the Xianning police arrested individuals in a similar case, issuing a warning and imposing a fine of 15,000 yuan, along with the confiscation of illegal gains amounting to 90,000 yuan.

ChainCatcher news, the Ministry of State Security recently released three cases involving national security through its WeChat official account. One of the cases shows that a salesperson from a medical device company, Wang, was attracted by the promise of high investment returns after watching videos released by an overseas anti-China organization. He actively joined the organization and purchased virtual currency worth $10,000.It is reported that the anti-China organization raises funds by issuing virtual currency and uses the related funds to engage in anti-China activities. The Ministry of State Security reminds citizens to be vigilant about the risks of such virtual currency transactions and to avoid participating in activities that endanger national security due to profit motives.

ChainCatcher news, according to Onchain Lens monitoring, 2 hours ago, a giant whale spent 1.51 million USDC to purchase 923,032 VIRTUAL tokens at an average price of 1.64 USD.

ChainCatcher news, the AI agent platform Virtuals Protocol announced on X platform that a major announcement is coming soon.

ChainCatcher news, according to an official report from Bithumb, due to some virtual asset service providers (VASP) suspending their Travel Rule solution services, it is no longer possible to withdraw virtual assets worth more than 1 million KRW to VASP.

ChainCatcher news, Hong Kong stock market data shows that as of the market close, the total trading volume of 6 Hong Kong virtual asset ETFs today was 10.7974 million HKD.Among them: the trading volume of the Huaxia Bitcoin ETF (3042.HK) was 7.21 million HKD, the trading volume of the Huaxia Ethereum ETF (3046.HK) was 795,000 HKD, the trading volume of the Harvest Bitcoin ETF (3439.HK) was 954,800 HKD, the trading volume of the Harvest Ethereum ETF (3179.HK) was 524,000 HKD, the trading volume of the Bosera HashKey Bitcoin ETF (3008.HK) was 1.25 million HKD, and the trading volume of the Bosera HashKey Ethereum ETF (3009.HK) was 63,500 HKD.

ChainCatcher news, Virtuals official announced on platform X that they have launched the optimization and correction process for the Genesis points system, aimed at addressing some violations discovered recently. The team stated that the Genesis system has had the ability for dynamic learning and rapid response since its design, and the current adjustments are being carried out swiftly to ensure all users receive fair points distribution. Finally, the Virtuals official emphasized that Genesis points will never be tokenized.

ChainCatcher news, according to Stalkchain reports, smart money is quietly positioning itself in multiple cryptocurrencies. AVA, FARTCOIN, and VIRTUAL are seeing significant net inflows of funds. Meanwhile, although PORK and SAN have relatively small market capitalizations, they are experiencing notable inflows, which may indicate that institutional investors are positioning themselves early.Additionally, HOSICO and TITCOIN are also showing strong demand. It is worth noting that the larger market cap asset POPCAT is experiencing weak net inflows, which may suggest that its upward momentum is weakening.