The crypto sphere is abuzz with news as ZachXBT, a well-known onchain investigator, has uncovered a $40 million crypto theft allegedly tied to a government custody contractor’s son. This revelation comes alongside Kraken’s exciting launch of ‘DeFi Earn’, offering onchain yield opportunities to its users.
Unveiling the $40M Crypto Theft Allegation
In a remarkable investigation, ZachXBT has linked the theft of over $40 million from U.S. government crypto wallets to John Daghita, son of Dean Daghita, the president of CMDSS. This company was previously contracted by the U.S. Marshals Service to manage seized cryptocurrencies.
ZachXBT’s research extends previous investigations that connected an online persona, known as ‘John’ or ‘Lick’, to suspicious crypto activities exceeding $90 million. A Telegram argument, showcasing wallet ownership through live fund movements, first brought these addresses to light.
Despite the serious allegations, no legal charges have been filed, and CMDSS has not commented on the matter. The broader implications for crypto security and governance remain significant as the industry grapples with such high-profile cases.
Kraken’s ‘DeFi Earn’ Launch
Simultaneously, Kraken has introduced ‘DeFi Earn’ to users across the EU, Canada, and most U.S. states. This new feature allows users to access onchain yields directly from Kraken’s platform, promising returns up to 8% APY.
Powered by Veda’s vault infrastructure with Chaos Labs and Sentora managing initial USDC vault strategies, Kraken’s move represents a broader trend where centralized exchanges integrate DeFi-native features. This innovation aims to attract traditional exchange users into the decentralized finance realm.
Japan’s Crypto ETF Ambitions
In related news, Japan is gearing up to approve its first crypto ETFs by 2028. Major financial players like Nomura and SBI are expected to spearhead these initiatives on the Tokyo Stock Exchange, in alignment with regional trends in crypto financial products.
This development follows the success of U.S. Bitcoin ETFs, which have amassed significant assets. Japan’s regulatory shift highlights a global push towards integrating digital assets into traditional financial markets.
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