Urgent Crypto News: $330M Bitcoin Hack Shocks Market, Plus Key Legal & SEC Updates
Stay ahead in the fast-paced world of cryptocurrency. Today brings significant developments, from a massive Bitcoin hack to crucial legal rulings and regulatory delays impacting major altcoins. Let’s dive into the essential crypto news you need to know right now.
Devastating $330 Million Bitcoin Hack Targets Elderly Victim
In alarming news, a recent Bitcoin hack has resulted in a staggering $330 million theft, reportedly targeting an elderly individual in the United States. This incident, identified by onchain investigator ZachXBT, ranks among the largest crypto thefts in history. The attacker employed sophisticated social engineering tactics to compromise the victim’s wallet on April 28, 2025. The stolen 3,520 BTC was quickly moved and laundered using various methods.
The laundering process involved a technique known as a ‘peel chain,’ which breaks down large sums into smaller, harder-to-trace amounts. According to onchain researcher Yehor Rudytsia, the funds were distributed through multiple instant exchanges and mixers, eventually fanning out across over 40 wallets. The stolen Bitcoin was reportedly swapped into Monero (XMR), a privacy-focused cryptocurrency, further complicating tracking efforts. Onchain data indicates the victim had held the significant BTC amount since 2017 without prior large transactions.
Judge Rules Against OFAC Sanctions on Tornado Cash
In a significant legal victory for privacy advocates in the crypto space, a US federal judge has ruled that the Treasury Department’s Office of Foreign Assets Control (OFAC) cannot reimpose sanctions against the crypto mixing service, Tornado Cash. Judge Robert Pitman’s April 28 judgment declared OFAC’s previous sanctions unlawful and permanently enjoined the agency from enforcing further sanctions against the protocol.
OFAC had added Tornado Cash to its sanctions list in August 2022, alleging its use by the North Korean Lazarus Group for money laundering. Users of the service, led by Joseph Van Loon, sued the Treasury, challenging the legality of the sanctions. Although OFAC delisted Tornado Cash in March following a favorable court ruling in January and argued the case was moot, the judge’s latest decision provides a more definitive legal stance against the agency’s actions regarding the protocol.
SEC Delays Decisions on Dogecoin and XRP ETFs
The US Securities and Exchange Commission (SEC) continues its cautious approach to cryptocurrency investment products, announcing delays on proposed exchange-traded funds (ETFs) for Dogecoin and XRP. Filings show the regulator has postponed its decision deadline until June for two specific proposals.
These delays affect Bitwise’s proposed Dogecoin (DOGE) ETF, requested by NYSE Arca, and Franklin Templeton’s XRP (XRP) ETF, requested by Cboe BZX Exchange. Notably, another exchange, Nasdaq, also recently filed for permission to list a 21Shares Dogecoin ETF. The SEC’s pattern of delaying decisions on novel crypto ETF applications continues, leaving investors and issuers awaiting clarity on potential regulated investment avenues for these prominent altcoins. Dogecoin holds a significant market cap as the leading memecoin, while XRP is the native token of the XRP Ledger network.
Summary of Today’s Crypto Headlines
Today’s crypto landscape saw major events unfold. A large-scale Bitcoin hack highlighted the persistent threat of social engineering scams, while a favorable court ruling provided relief for users and developers associated with Tornado Cash. Simultaneously, the SEC’s decision to implement an SEC ETF delay for both Dogecoin and XRP funds means the wait for these specific altcoin investment products continues. Staying informed on these critical developments is essential for navigating the dynamic crypto market.
