Here’s What is Going on with Crypto Today

The Coinomist brings you the most important stories to know what happened to crypto today: Toncoin dropped following visa clarification from the UAE, hackers laundered stolen funds through digital assets after a Brazilian bank breach, and U.S. authorities revealed they seized nearly $400 million in crypto assets over the past decade.

Toncoin Drops 6% After UAE Denies Golden Visa Claims

Toncoin (TON) fell 6% from its 24-hour high after UAE regulators denied claims that staking $100,000 in TON for three years would qualify holders for a 10-year golden visa. The token initially jumped 10% to reach $3.03 on Sunday following the announcement before dropping to around $2.84.

The price surge occurred as investors bought TON tokens expecting residency benefits. Official sources later issued warnings against misinformation and urged caution. The token's quick reversal shows how unverified claims can create sudden price swings in digital assets.

Brazilian Bank Hack Leads to $40 Million Crypto Laundering

Hackers stole approximately $147.7 million from reserve accounts at six Brazilian financial institutions after paying a $2,770 bribe to an IT operator at C&M Software. The insider, João Nazareno Roque, admitted to selling his corporate login credentials to the attackers.

Roque provided his authentication data for the small bribe, allowing hackers to access the financial institutions' systems. The criminals used fraudulent Pix transfers to move the stolen funds until the scheme was discovered about two and a half hours later. 

Hackers converted between $30 million and $40 million of the stolen Brazilian real into Bitcoin, Ether, and USDT through over-the-counter trading desks before authorities could freeze the accounts.

U.S. Secret Service Holds Nearly $400 Million in Seized Crypto

The U.S. Secret Service's Global Investigative Operations Center seized close to $400 million in digital assets over the past decade, creating one of the world's largest crypto cold wallets. Bloomberg reported the agency has quietly built this collection through various investigations.

Jamie Lam, an agency analyst, explained that investigators use open-source tools, blockchain forensics, and traces left by VPN errors to track funds through romance investment and sextortion schemes. The Secret Service also trained officials in over 60 countries to detect and disrupt crypto-based financial crimes. The agency reportedly stores much of the seized tokens in a single cold-storage address to keep them offline.

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