CryptoPatel
Crypto Entrepreneur. 10 years TA FA. Founder of CryptoPatel. Alpha Hunter. SMC and ICT Trader. Sharing 10x Gems, X: CryptoPatel, Pro Setups, Market Trends 🚀
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Blockchain lender Figure hacked - customer data leaked
Figure Technologies confirmed a data breach after hackers tricked an employee using social engineering.
What leaked: → Full names → Home addresses → Dates of birth → Phone numbers
Hacking group ShinyHunters claimed responsibility. Figure refused to pay ransom, so they published 2.5 GB of stolen data.
This was part of a larger attack targeting Okta users. Harvard and UPenn were also hit.
Key takeaway: Even a $5.3B blockchain company can fall to simple human error. Tech is only as strong as its weakest link.
Stay safe out there.
Figure Technologies confirmed a data breach after hackers tricked an employee using social engineering.
What leaked: → Full names → Home addresses → Dates of birth → Phone numbers
Hacking group ShinyHunters claimed responsibility. Figure refused to pay ransom, so they published 2.5 GB of stolen data.
This was part of a larger attack targeting Okta users. Harvard and UPenn were also hit.
Key takeaway: Even a $5.3B blockchain company can fall to simple human error. Tech is only as strong as its weakest link.
Stay safe out there.
Czechia Tax-Free ➤ BlackRock Bitcoin Push ➤ Russia Stablecoin Plans ➤ FedEx + Hedera
1⃣ 🇨🇿 Czechia Goes Tax-Free for HODLers President Pavel signed new law:
→ Hold Crypto 3+ Years = 0% Tax
→ Trades under $4K/year = No reporting
One of Europe's most crypto-friendly moves!
2⃣ BlackRock Puts Bitcoin on Billboards
World's largest asset manager ($12.5T) now advertising $IBIT near Lincoln Tunnel, NJ: "Bitcoin exposure made easy"
Larry Fink in 2017: "Bitcoin is money Laundering" Larry Fink in 2025: Runs $50B+ Bitcoin ETF
3⃣ 🇷🇺 Russia Studying National Stablecoin
Central Bank to research launching a ruble stablecoin this year, Previously banned them as "unauthorized money"
Could help bypass sanctions for cross-border payments. No launch guaranteed yet.
4⃣ FedEx Joins Hedera Council Shipping giant now governs Hedera alongside Google, IBM & Dell to build blockchain-powered supply chains.
$HBAR pumped ~10% on the news.
1⃣ 🇨🇿 Czechia Goes Tax-Free for HODLers President Pavel signed new law:
→ Hold Crypto 3+ Years = 0% Tax
→ Trades under $4K/year = No reporting
One of Europe's most crypto-friendly moves!
2⃣ BlackRock Puts Bitcoin on Billboards
World's largest asset manager ($12.5T) now advertising $IBIT near Lincoln Tunnel, NJ: "Bitcoin exposure made easy"
Larry Fink in 2017: "Bitcoin is money Laundering" Larry Fink in 2025: Runs $50B+ Bitcoin ETF
3⃣ 🇷🇺 Russia Studying National Stablecoin
Central Bank to research launching a ruble stablecoin this year, Previously banned them as "unauthorized money"
Could help bypass sanctions for cross-border payments. No launch guaranteed yet.
4⃣ FedEx Joins Hedera Council Shipping giant now governs Hedera alongside Google, IBM & Dell to build blockchain-powered supply chains.
$HBAR pumped ~10% on the news.
BREAKING: Pentagon used Anthropic's Claude AI to capture Venezuela's Maduro
The U.S. military used Anthropic's Claude AI during the raid that captured Venezuelan dictator Nicolás Maduro in January.
Key Points:
→ Claude was deployed through Palantir during the live operation
→ Maduro brought to New York for drug trafficking charges
→ No U.S. casualties; dozens of Venezuelan/Cuban forces killed
The Controversy:
Anthropic's own rules ban Claude from violence and weapons use.
Now Pentagon may cancel Anthropic's $200M contract, because the company asked how its AI was used.
Defense Secretary Hegseth wants all AI safety restrictions removed for military use.
Why It Matters:
First confirmed use of a major AI model in active U.S. combat.
AI is no longer just chatbots, it's now a tool of war.
The U.S. military used Anthropic's Claude AI during the raid that captured Venezuelan dictator Nicolás Maduro in January.
Key Points:
→ Claude was deployed through Palantir during the live operation
→ Maduro brought to New York for drug trafficking charges
→ No U.S. casualties; dozens of Venezuelan/Cuban forces killed
The Controversy:
Anthropic's own rules ban Claude from violence and weapons use.
Now Pentagon may cancel Anthropic's $200M contract, because the company asked how its AI was used.
Defense Secretary Hegseth wants all AI safety restrictions removed for military use.
Why It Matters:
First confirmed use of a major AI model in active U.S. combat.
AI is no longer just chatbots, it's now a tool of war.
US SPOT CRYPTO ETFs FLOWS DATA UPDATE (13-02-2026):
🟩 Bitcoin Spot ETFs: +228 $BTC (+$15.20M)
🟩 Ethereum Spot ETFs: +5,240 $ETH (+$10.26M)
🟩 Solana Spot ETFs: +19,140 $SOL ($1.57M)
🟩 XRP Spot ETFs: +3.30M $XRP ($4.50M)
🟩 $AVAX, $LINK, $DOGE, $LTC, $HBAR Flows Was Zero.
TOTAL US SPOT CRYPTO ETFs NET INFLOW: ≈ +$31.53 million
U.S. BITCOIN SPOT ETFs BOUGHT ~228 BTC Worth $15.20M
→ BlackRock Sold 142 BTC ($9.36M) and 4,780 ETH ($9.28M)
→ Fidelity Bought 181 BTC ($104.13M) and 1030 ETH ($2.04M)
→ Grayscale Bought 106 BTC ($7M) and 7,450 ETH ($14.51M)
FACT: US SPOT #BitcoinETFs Sold ~Half Day of Mined Bitcoin Supply in Single Day.
🟩 Bitcoin Spot ETFs: +228 $BTC (+$15.20M)
🟩 Ethereum Spot ETFs: +5,240 $ETH (+$10.26M)
🟩 Solana Spot ETFs: +19,140 $SOL ($1.57M)
🟩 XRP Spot ETFs: +3.30M $XRP ($4.50M)
🟩 $AVAX, $LINK, $DOGE, $LTC, $HBAR Flows Was Zero.
TOTAL US SPOT CRYPTO ETFs NET INFLOW: ≈ +$31.53 million
U.S. BITCOIN SPOT ETFs BOUGHT ~228 BTC Worth $15.20M
→ BlackRock Sold 142 BTC ($9.36M) and 4,780 ETH ($9.28M)
→ Fidelity Bought 181 BTC ($104.13M) and 1030 ETH ($2.04M)
→ Grayscale Bought 106 BTC ($7M) and 7,450 ETH ($14.51M)
FACT: US SPOT #BitcoinETFs Sold ~Half Day of Mined Bitcoin Supply in Single Day.
TOTAL CRYPTO MARKET CAP WILL CREATE MILLIONAIRES BUT 95% WILL MISS IT | $10T+ TARGET
TOTAL Market Cap is now on its way to a 65%–70% drawdown from its ATH And this is exactly where generational entries are made.
KEY DATA:
◾ Recent: $2.10T (~51% Down From Top)
◾ Previous Cycle: -76% Correction Before Parabolic Run
◾ Strong Demand Zone: $1.4T–$1.7T
◾ Resistance Reclaim Zone: $2.5T
UPSIDE TARGETS: $3.5T ➔ $5T ➔ $10T+ (+570% From Demand)
THESIS:
Macro Uptrend Intact. More Retracement Needed. Bounce Expected From $1.50T Support.
Hard Dips = Opportunity. Best Entries Near $1.50T After Liquidity Sweep.
Reclaim $3.29T = Parabolic Expansion Toward New ATH.
IMO: Market On Sale ~51% Off. Smart Money Accumulates Where Fear Peaks. 30–40% More Retracement = Prime Accumulation Zone for Best Entries.
Purely TA | NFA | DYOR
Your TOTAL CRYPTO MARKETCAP Target?
Like + RT + Bookmark
TOTAL Market Cap is now on its way to a 65%–70% drawdown from its ATH And this is exactly where generational entries are made.
KEY DATA:
◾ Recent: $2.10T (~51% Down From Top)
◾ Previous Cycle: -76% Correction Before Parabolic Run
◾ Strong Demand Zone: $1.4T–$1.7T
◾ Resistance Reclaim Zone: $2.5T
UPSIDE TARGETS: $3.5T ➔ $5T ➔ $10T+ (+570% From Demand)
THESIS:
Macro Uptrend Intact. More Retracement Needed. Bounce Expected From $1.50T Support.
Hard Dips = Opportunity. Best Entries Near $1.50T After Liquidity Sweep.
Reclaim $3.29T = Parabolic Expansion Toward New ATH.
IMO: Market On Sale ~51% Off. Smart Money Accumulates Where Fear Peaks. 30–40% More Retracement = Prime Accumulation Zone for Best Entries.
Purely TA | NFA | DYOR
Your TOTAL CRYPTO MARKETCAP Target?
Like + RT + Bookmark
BREAKING: Grayscale Files for AAVE Spot ETF
Grayscale just submitted an S-1 filing to the SEC, first major move to bring DeFi into traditional finance.
Why it matters:
→ $AAVE is a top DeFi lending protocol
→ Bitwise also filed for #AAVEETF recently
→ Altcoin ETF race expanding beyond $BTC & $ETH
→ Retail investors could access DeFi via brokerage
What do you think - will the SEC approve a DeFi ETF this year?
Grayscale just submitted an S-1 filing to the SEC, first major move to bring DeFi into traditional finance.
Why it matters:
→ $AAVE is a top DeFi lending protocol
→ Bitwise also filed for #AAVEETF recently
→ Altcoin ETF race expanding beyond $BTC & $ETH
→ Retail investors could access DeFi via brokerage
What do you think - will the SEC approve a DeFi ETF this year?
South Korea Police Lose $1.5M in Bitcoin
22 $BTC seized in 2021 have vanished from a cold wallet at Seoul's Gangnam Police Station.
→ USB cold wallet was never stolen
→ But BTC was transferred out externally
→ Loss went undetected for years
→ Another 320 BTC (~$21M) also went missing in 2025
Why it matters:
Cold storage doesn't protect against insider access or poor key management. Even governments struggle with proper crypto custody.
Negligence or inside job?
22 $BTC seized in 2021 have vanished from a cold wallet at Seoul's Gangnam Police Station.
→ USB cold wallet was never stolen
→ But BTC was transferred out externally
→ Loss went undetected for years
→ Another 320 BTC (~$21M) also went missing in 2025
Why it matters:
Cold storage doesn't protect against insider access or poor key management. Even governments struggle with proper crypto custody.
Negligence or inside job?
CRYPTO BLOODBATH: $2.22 Trillion wiped out from the Crypto Market in 4 Months & $1.24 Trillion Alon in just 30 days.
The Crypto Market Doesn’t Care about your conviction. Set Your Stop-Losses, or Get Stopped Out Permanently.
The Crypto Market Doesn’t Care about your conviction. Set Your Stop-Losses, or Get Stopped Out Permanently.
BREAKING: Armed Intruders Target Binance France CEO - 3 Arrested
Three masked gunmen attempted a home invasion targeting David Prinçay, head of Binance France, early Thursday morning.
What happened:
➜ Attackers broke into his apartment building in Val-de-Marne
➜ Failed to find him, stole 2 phones & fled
➜ Tried a SECOND break-in nearby - wrong address again
➜ Police tracked them via phone signals & CCTV
➜ All 3 arrested at Lyon train station same day
Binance confirms:
Co-founder Yi He stated Prinçay and his family are safe. The company is working with French police and boosting security measures.
Good to hear David and his family are safe. This highlights the importance of safety and privacy.
Huge respect to French law enforcement for the swift action, all suspects caught within hours 👏
Why this matters:
Crypto "wrench attacks" (physical attacks to steal digital assets) jumped 75% in 2025 with 72 cases globally.
France saw the MOST attacks - 19 confirmed incidents last year alone.
This follows another crypto kidnapping case in France just days ago involving a magistrate's family.
Key takeaway for holders:
→ Keep your crypto holdings private
→ Never share wallet details publicly
→ Use hardware wallets & multisig setups
→ Consider privacy-focused security measures
The physical threat to crypto wealth is now as real as the digital one.
Stay safe out there 🛡️
Three masked gunmen attempted a home invasion targeting David Prinçay, head of Binance France, early Thursday morning.
What happened:
➜ Attackers broke into his apartment building in Val-de-Marne
➜ Failed to find him, stole 2 phones & fled
➜ Tried a SECOND break-in nearby - wrong address again
➜ Police tracked them via phone signals & CCTV
➜ All 3 arrested at Lyon train station same day
Binance confirms:
Co-founder Yi He stated Prinçay and his family are safe. The company is working with French police and boosting security measures.
Good to hear David and his family are safe. This highlights the importance of safety and privacy.
Huge respect to French law enforcement for the swift action, all suspects caught within hours 👏
Why this matters:
Crypto "wrench attacks" (physical attacks to steal digital assets) jumped 75% in 2025 with 72 cases globally.
France saw the MOST attacks - 19 confirmed incidents last year alone.
This follows another crypto kidnapping case in France just days ago involving a magistrate's family.
Key takeaway for holders:
→ Keep your crypto holdings private
→ Never share wallet details publicly
→ Use hardware wallets & multisig setups
→ Consider privacy-focused security measures
The physical threat to crypto wealth is now as real as the digital one.
Stay safe out there 🛡️
#Solana Fractal Alert: Last Time This Happened, It Pumped 24,234%
Cycle 1 ◉ 2020-2021: $1.07 → $260 (+24,234%)
Correction Phase ◉ Then Crashed -97% to $7.78
Cycle 2 ◉ 2022-2025: $7.78 → $295 (+3,700%)
Correction Phase ◉ Now down -77% from ATH
Pattern Suggests: $SOL Price has Corrected -77% from ATH. If historical fractal plays out, deeper retracement toward 0.5-0.618 Fibonacci levels Remains Possible.
Levels to Monitor
▸ Potential Accumulation Zone: $30 - $50
▸ Long-Term Targets: $500 - $1,000
Past Fractals Don't Guarantee Future Results. DYOR and Check the Chart Yourself.
NFA | Always Manage Your Risk
#CryptoPatel
Cycle 1 ◉ 2020-2021: $1.07 → $260 (+24,234%)
Correction Phase ◉ Then Crashed -97% to $7.78
Cycle 2 ◉ 2022-2025: $7.78 → $295 (+3,700%)
Correction Phase ◉ Now down -77% from ATH
Pattern Suggests: $SOL Price has Corrected -77% from ATH. If historical fractal plays out, deeper retracement toward 0.5-0.618 Fibonacci levels Remains Possible.
Levels to Monitor
▸ Potential Accumulation Zone: $30 - $50
▸ Long-Term Targets: $500 - $1,000
Past Fractals Don't Guarantee Future Results. DYOR and Check the Chart Yourself.
NFA | Always Manage Your Risk
#CryptoPatel
Ethereum Foundation Shakeup: Co-Executive Director Steps Down After Just 1 Year
Tomasz Stańczak is stepping down as Co-Executive Director of the #Ethereum Foundation at the end of February 2026.
What you need to know:
▸ Bastian Aue will replace him as interim Co-Executive Director
▸ Hsiao-Wei Wang continues as Co-Executive Director
▸ Stańczak will remain active as an Ethereum core developer
His legacy at EF:
During his tenure, Stańczak helped accelerate Ethereum's decision-making process, improved institutional relationships, supported builders, and established treasury policies. He also pushed the ambitious L1 scaling roadmap targeting 10x speed improvements.
Why it matters:
This is the second EF leadership change in under 12 months. However, the transition appears smooth with clear succession planning. Stańczak staying involved as a core developer signals continued technical contribution to Ethereum's development.
The Ethereum ecosystem remains focused on delivering major upgrades and scaling solutions through 2026.
Tomasz Stańczak is stepping down as Co-Executive Director of the #Ethereum Foundation at the end of February 2026.
What you need to know:
▸ Bastian Aue will replace him as interim Co-Executive Director
▸ Hsiao-Wei Wang continues as Co-Executive Director
▸ Stańczak will remain active as an Ethereum core developer
His legacy at EF:
During his tenure, Stańczak helped accelerate Ethereum's decision-making process, improved institutional relationships, supported builders, and established treasury policies. He also pushed the ambitious L1 scaling roadmap targeting 10x speed improvements.
Why it matters:
This is the second EF leadership change in under 12 months. However, the transition appears smooth with clear succession planning. Stańczak staying involved as a core developer signals continued technical contribution to Ethereum's development.
The Ethereum ecosystem remains focused on delivering major upgrades and scaling solutions through 2026.
🇳🇱 Netherlands Passes 36% Tax on Unrealized Crypto Gains
The Dutch House just approved a major tax reform and it's brutal for crypto holders.
Starting January 2028:
→ 36% tax on crypto gains even if you DON'T sell
→ Paper profits taxed annually
→ Covers BTC, ETH, all crypto, even cold wallets
Small relief:
→ First €1,800 yearly gains = tax-free
→ Losses can offset future gains
Why it matters:
Imagine paying taxes in a bull market, then watching your portfolio crash. You'd owe money on gains you never cashed out.
Dutch analyst Michaël van de Poppe called it "insane", predicting capital flight as investors leave for tax-friendly countries.
The bill needs Senate approval (expected to pass).
This could set a precedent. Watch how other countries respond.
The Dutch House just approved a major tax reform and it's brutal for crypto holders.
Starting January 2028:
→ 36% tax on crypto gains even if you DON'T sell
→ Paper profits taxed annually
→ Covers BTC, ETH, all crypto, even cold wallets
Small relief:
→ First €1,800 yearly gains = tax-free
→ Losses can offset future gains
Why it matters:
Imagine paying taxes in a bull market, then watching your portfolio crash. You'd owe money on gains you never cashed out.
Dutch analyst Michaël van de Poppe called it "insane", predicting capital flight as investors leave for tax-friendly countries.
The bill needs Senate approval (expected to pass).
This could set a precedent. Watch how other countries respond.
$AVAX PRICE FORECAST | IS $150+ POSSIBLE? | CRYPTOPATEL
#AVAX Is Forming A Elliott Wave Structure On The Weekly Chart Inside A Massive Multi-Year Descending Channel Since The 2021 ATH.
After A 95%+ Cycle Correction, Price Has Completed Wave 1 At $5.67 And Is Now Transitioning Into An Early Wave 2 Recovery Phase - A Critical HTF Inflection Point.
Market Structure Suggests Smart Money Accumulation At Macro Support.
Current Technical Structure:
✅ Wave 1 Completed At $8-$5 Macro Bottom
✅ Trading Inside A Long-Term Descending Channel
✅ Clean Bearish Breakdown + Retest Of Lower Trendline (Deviation Setup)
✅ Liquidity Sweep Into Weekly Demand Zone ($8 – $7 Area)
✅ Fractal Structure Mirroring Previous Cycle Compression
Key Confirmation Signal: Sustained Weekly Strength & Expansion Back Toward Mid-Channel Resistance.
CryptoPatel Targets: $33 → $58 → $97 → $147
Potential Expansion Toward Channel Top If Elliott Structure Plays Out Into 2026–2027.
From The Bottom To TP4 = ~2,489% Expansion.
Bullish Bias Remains Valid As Long As: $AVAX Holds Above $5.50 On Weekly Last Support.
Invalidation: Weekly Close Below $5.50 (Wave 1 Low)
This Is A High Timeframe, Patience-Based Setup With Asymmetric Risk-Reward - Best Suited For Spot Accumulation & Long-Term Holders.
TA Only. Not Financial Advice. Always DYOR.
@Avalanche #CryptoPatel
#AVAX Is Forming A Elliott Wave Structure On The Weekly Chart Inside A Massive Multi-Year Descending Channel Since The 2021 ATH.
After A 95%+ Cycle Correction, Price Has Completed Wave 1 At $5.67 And Is Now Transitioning Into An Early Wave 2 Recovery Phase - A Critical HTF Inflection Point.
Market Structure Suggests Smart Money Accumulation At Macro Support.
Current Technical Structure:
✅ Wave 1 Completed At $8-$5 Macro Bottom
✅ Trading Inside A Long-Term Descending Channel
✅ Clean Bearish Breakdown + Retest Of Lower Trendline (Deviation Setup)
✅ Liquidity Sweep Into Weekly Demand Zone ($8 – $7 Area)
✅ Fractal Structure Mirroring Previous Cycle Compression
Key Confirmation Signal: Sustained Weekly Strength & Expansion Back Toward Mid-Channel Resistance.
CryptoPatel Targets: $33 → $58 → $97 → $147
Potential Expansion Toward Channel Top If Elliott Structure Plays Out Into 2026–2027.
From The Bottom To TP4 = ~2,489% Expansion.
Bullish Bias Remains Valid As Long As: $AVAX Holds Above $5.50 On Weekly Last Support.
Invalidation: Weekly Close Below $5.50 (Wave 1 Low)
This Is A High Timeframe, Patience-Based Setup With Asymmetric Risk-Reward - Best Suited For Spot Accumulation & Long-Term Holders.
TA Only. Not Financial Advice. Always DYOR.
@Avalanche #CryptoPatel
The MVRV Ratio Hit 1.1 And Most Traders Have NO IDEA What's Coming
After 4 Months down from the October 2025 ATH, #Bitcoin MVRV ratio now sits at 1.1.
Below 1.0 = Historically Undervalued Zone.
But This Cycle is Different:
➤ No parabolic rally into overvalued territory
➤ Traditional bottom patterns may not repeat
➤ Different setup = different opportunity
Smart Money Knows: Wealth is Built During Downturns, Not Rallies.
The Undervalued Zone is Near. Are You Prepared?
After 4 Months down from the October 2025 ATH, #Bitcoin MVRV ratio now sits at 1.1.
Below 1.0 = Historically Undervalued Zone.
But This Cycle is Different:
➤ No parabolic rally into overvalued territory
➤ Traditional bottom patterns may not repeat
➤ Different setup = different opportunity
Smart Money Knows: Wealth is Built During Downturns, Not Rallies.
The Undervalued Zone is Near. Are You Prepared?
SILVER Crashed From $80 to $75 (10% Down in Hours)
GOLD Dropped From $5,000 to $4,878 (4% Down in 60 Minutes)
GOLD Dropped From $5,000 to $4,878 (4% Down in 60 Minutes)
BREAKING: Banks Are Scared - Crypto May Get Direct Fed Access
The #FED proposed "skinny master accounts", letting crypto & fintech firms directly access the Fed's payment system WITHOUT needing banks.
Why banks are panicking:
→ No more middlemen (SWIFT, correspondent banks)
→ Companies like Circle & Stripe could settle directly with the Fed
→ 7 banking groups filed opposition on Feb 6
→ They demand a 12-month waiting period for crypto firms
The GENIUS Act (stablecoin law) passed in July 2025, but full regulations aren't ready yet. Banks say: "Don't give Fed access before rules are finished."
Fed Governor Waller wants these accounts live by Q4 2026.
Why it matters:
This is a fight over who controls how money moves in America. If crypto wins, banks lose their biggest advantage, being the only gateway to the Fed.
The #FED proposed "skinny master accounts", letting crypto & fintech firms directly access the Fed's payment system WITHOUT needing banks.
Why banks are panicking:
→ No more middlemen (SWIFT, correspondent banks)
→ Companies like Circle & Stripe could settle directly with the Fed
→ 7 banking groups filed opposition on Feb 6
→ They demand a 12-month waiting period for crypto firms
The GENIUS Act (stablecoin law) passed in July 2025, but full regulations aren't ready yet. Banks say: "Don't give Fed access before rules are finished."
Fed Governor Waller wants these accounts live by Q4 2026.
Why it matters:
This is a fight over who controls how money moves in America. If crypto wins, banks lose their biggest advantage, being the only gateway to the Fed.
Bithumb's $40 Billion Bitcoin Blunder - What Every Crypto Investor Must Know
South Korea's 2nd largest exchange Bithumb accidentally sent 620,000 BTC (~$40B) to 695 users instead of ~$1.40 each in Korean won.
An employee entered the reward as "Bitcoin" instead of "Korean Won." Within 20 minutes, some users received 2,000+ BTC each, worth over $120M per person.
What happened next:
→ $BTC price on Bithumb crashed 17% instantly
→ ~1,786 BTC Sold before accounts were frozen
→ 99.7% of ghost Bitcoin recovered
→ CEO admitted system failures at parliamentary hearing
The Real Problem?
Bithumb held only ~42,000 BTC but distributed 620,000 BTC using their internal ledger. These "phantom coins" never existed on-chain.
This proves centralized exchanges can credit your account with crypto they don't actually hold.
Key Takeaways:
1️⃣ CEX balances are just numbers on a database, not real on-chain Bitcoin
2️⃣ Self-custody remains the safest option
3️⃣ South Korea launching major regulatory investigations
4️⃣ Users who Sold Phantom BTC must return profits or face legal action
Not Your Keys, Not Your Coins.
This is one of the biggest exchange errors in crypto history and a wake-up call for the entire industry.
Stay safe. Stay informed.
South Korea's 2nd largest exchange Bithumb accidentally sent 620,000 BTC (~$40B) to 695 users instead of ~$1.40 each in Korean won.
An employee entered the reward as "Bitcoin" instead of "Korean Won." Within 20 minutes, some users received 2,000+ BTC each, worth over $120M per person.
What happened next:
→ $BTC price on Bithumb crashed 17% instantly
→ ~1,786 BTC Sold before accounts were frozen
→ 99.7% of ghost Bitcoin recovered
→ CEO admitted system failures at parliamentary hearing
The Real Problem?
Bithumb held only ~42,000 BTC but distributed 620,000 BTC using their internal ledger. These "phantom coins" never existed on-chain.
This proves centralized exchanges can credit your account with crypto they don't actually hold.
Key Takeaways:
1️⃣ CEX balances are just numbers on a database, not real on-chain Bitcoin
2️⃣ Self-custody remains the safest option
3️⃣ South Korea launching major regulatory investigations
4️⃣ Users who Sold Phantom BTC must return profits or face legal action
Not Your Keys, Not Your Coins.
This is one of the biggest exchange errors in crypto history and a wake-up call for the entire industry.
Stay safe. Stay informed.
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