December 2, the Procuratorate of Wanbolin District, Taiyuan City, Shanxi Province, China recently announced the first-instance verdict of the case of Chen and Li, who were charged with concealing and disguising criminal proceeds. The court adopted the sentencing recommendations of the procuratorial organ and sentenced the two individuals to two years and six months, and one year and six months of imprisonment, respectively, along with fines.In May this year, Ms. Zhang met "Lin Hao" (at large) on a short video platform. "Lin Hao" falsely claimed to be a comrade-in-arms working for a well-known company, holding insider information on the company's stock price movements. He claimed that he could register an account on the company's internal website to "buy high" and profit (alleging a 5% return each period), but the transaction had to be conducted in US dollars. Moreover, it required exchanging cash for dollars with a designated merchant, then transferring it to his comrade-in-arms' dollar account, from where it would be transferred to the company's account.On May 21, following "Lin Hao's" instructions, Ms. Zhang carried 1.47 million RMB in cash to a hotel in Wanbolin District to exchange for US dollars. Acting on orders from their superior, Chen and Li went to meet Ms. Zhang. Ms. Zhang forwarded the US dollar account provided by "Lin Hao" (actually a scammer's Tether account) to the superior through Chen, who then transferred 202,328 USDT (equivalent to about 1.47 million RMB) to that account in three installments. Chen and Li then received the 1.47 million RMB in cash from Ms. Zhang and handed it over to their superior. However, "Lin Hao" did not transfer the money to Ms. Zhang's account as agreed, prompting her to report the scam to the police.The prosecuting attorney immediately reviewed the case files and consulted with the investigators, proposing a core investigative direction regarding the behavior of the suspects Chen and Li: obtain chat records to establish evidence that the two were "well aware of the abnormality of the funds"; clarify the fund flow route, trace the ultimate flow of USDT through the virtual currency trading platform data, and verify their objective participation in transferring the criminal proceeds. After investigation, the public security organ transferred the case to the Procuratorate of Wanbolin District on August 17.After examination, the Procuratorate found that both Chen and Li confessed that they "knew the fund operations were too secretive, and it involved a large amount of cash transactions, which certainly raised suspicions." The two individuals received a bribe of 30,000 RMB afterward, which was sufficient to establish that they were well aware that the funds were proceeds of crime; their assistance in completing the "cash to USD to USDT" cross-border conversion constituted an act of "concealing and disguising criminal proceeds."After the verdict, the Procuratorate issued a risk alert letter to relevant units, outlined the typical characteristics of "investment scams + virtual currency money laundering," and conducted anti-fraud education campaigns in collaboration with the Anti-Fraud Center and other relevant units. Sun Yinpeng, the Chief Prosecutor of Wanbolin District Procuratorate, stated that regarding new types of telecommunications network-related crimes, the Procuratorate will continue to deepen the "investigation-prosecution coordination + precise prosecution + social governance" mechanism, cracking down on both fraudulent crimes and severely punishing criminal "accomplices" to fully safeguard public property security. (Net of Justice)

December 2nd, both South Korean cryptocurrency exchanges Bithumb and Upbit announced on the same day that they would list Grostlcoin (GRS) as a "Trade Caution" project and simultaneously suspend deposits.DAXA (Korean Exchange's Self-Regulatory Organization) pointed out during its review that the GRS project team lacked sufficient disclosure of important matters affecting the token's value. The actual progress of the project showed multiple substandard situations, posing a potential risk of investor harm.

December 2nd, Dark Pool AMM Protocol HumidiFi unveils WET tokenomics. The total supply of WET tokens is 1 billion, with 10% allocated to the ICO event (fully unlocked at TGE), 40% allocated to the foundation (8% unlocked at TGE, the remaining linearly unlocked over 24 months), 25% allocated to the ecosystem (5% unlocked at TGE, the remaining linearly unlocked over 24 months), and 25% allocated to the lab (fully locked at TGE, the remaining linearly unlocked over 24 months).Furthermore, the presale eligible participants on the Jupiter DTF platform are divided into the following categories: Wetlist (6%) which includes HumidiFi users, actively contributing HumidiFi community members, and HumidiFi Discord community participants; Jupiter Stakers (2%); Public Presale (2%).

December 2nd, according to HyperInsight monitoring, the recent market has seen significant volatility, with many popular whales on Hyperliquid experiencing varying degrees of losses, as detailed below:「Sidekick」 Calvin: In the past 9 hours, Calvin deposited $250,000 into Hyperliquid and continued to add to his ETH long position. His current position size is $7.7 million, with an unrealized loss of $120,000. His long positions were liquidated multiple times yesterday, resulting in a total loss of $1.25 million, causing his account balance to briefly drop to $110,000.「CZ Whale Counterparty」: Overall unrealized losses have increased, with an ETH long position unrealized loss of $21.22 million (-217%), with an average price of $3,201 and a position size of approximately $146 million. Additionally, this whale holds an XRP long position with a position size of around $78.46 million, an average price of $2.29, and an unrealized loss of $10.49 million (-134%). Currently, this whale is the largest long in ETH and XRP on Hyperliquid.「Hyperliquid's Largest ZEC Short」: This whale has been steadily closing profitable ZEC short positions since yesterday morning, reducing the position size from $23.21 million to $9.88 million. The current unrealized profit is $2.20 million (113%), with a weekly profit of $15.33 million.「Suspected HYPE Listing Insider Whale」: The HYPE long position's unrealized loss has expanded to $11.20 million (-142%), with an average price of $39 and a position size of around $39.18 million.「Basket Long on Shitcoins」 Whale: Apart from FARTCOIN, significant losses were incurred on the remaining 20 shitcoins, with an account unrealized loss of $4.90 million. The current total position size is approximately $22.54 million.

December 2nd, the 30-year Japanese government bond yield hit a historic high, driven by persistently high inflation and increasing market expectations of a rate hike by the Bank of Japan later this month. It is currently up 1.5 basis points, at 3.405%. Bank of Japan Governor Haruhiko Kuroda stated on Monday that the central bank will thoroughly discuss the possibility of a rate hike at the upcoming meeting, further raising expectations of a rate hike in the near term. The 10-year government bond yield held steady at 1.875%. (Kinshi)

December 2nd: The probability of "Bitcoin dropping below $80,000 in December" on Polymarket has increased to 55%, while the probability of dropping below $70,000 is currently at 15%. Furthermore, the probability of surpassing $100,000 is currently at 28%.

December 2nd, according to Whale Alert monitoring, an address holding 50 BTC (approximately $4.32 million) was just activated after being dormant for 15.7 years. It then transferred the 50 BTC to 5 newly created wallets.

December 2nd, several Coinbase shareholders have filed a lawsuit against the company's executives, accusing them of engaging in insider trading worth billions of dollars over the years. The lawsuit, filed in Delaware, alleges that Coinbase's top management and investors have concealed the company's failures in implementing Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, vulnerabilities to data breaches, and the extent of regulatory scrutiny into these issues.During the period when this information was allegedly concealed, internal personnel at Coinbase, including CEO Brian Armstrong and board member Marc Andreessen, sold $4.2 billion worth of company stock. The plaintiffs claim that these profits constituted "large-scale insider trading," taking advantage of the artificially inflated stock price of Coinbase.

December 2nd, according to Onchain Lens monitoring, a wallet address associated with Paradigm transferred 6300 ETH to Coinbase (worth $17.6 million).

December 2, According to LookIntoChain's monitoring, there were a total of 10 new wallets created in the past week that received a combined total of 2,612 BTC (US$231 million) from BitGo.