The ongoing fluctuations within the memecoin sector are drawing increasing attention, particularly as Dogwifhat (WIF) grapples with a prevailing bearish sentiment. Despite a notable 9% rally in the past 24
A new one was added to the altcoins that have experienced sharp declines in recent weeks. Accordingly, Mantra (OM), listed on Binance, fell by more than 80% in seconds. While this decline has a shocking effect on investors, everyone is wondering why. At this point, MANTRA CEO John Patrick Mullin said that no team member or partner had sold OM tokens, while claiming that the decline was due to the deliberate action of centralized exchanges against OM account holders. While these claims continue to be debated in the crypto community, OKX founder and CEO Star Xu said that the MANTRA crash was a ‘big scandal’ and promised to release related reports soon. Binance stated in its statement that initial findings showed that the sudden drop in the price of the OM token was due to liquidations between exchanges. While the sharp decline in Mantra is still awaiting clarification, a statement came from Binance founder Changpeng Zhao (CZ). CZ commented, “Like everyone else, I'm wondering 'what happened to this?' I didn't know about the project until the crash.” He responded to questions about whether Binance was doing its due diligence on OM. CZ stated that Binance has been paying due attention, referring to Binance’s statement regarding the OM token. In its statement, Binance stated that it has implemented various risk control measures, including reducing leverage levels, regarding the OM token since October of last year. CZ said that neither CEXs nor DEXs should set up a listing process, access to all tokens should be allowed, and the investment process should be decided by users. Regarding how to understand the risks of projects like OM, CZ said that the “number of real users” is generally a good indicator of the risk situation in altcoins. Finally, CZ added that investors should focus on fundamentals such as user growth, revenue, and profitability when investing in altcoins rather than chasing hype or rumors. *This is not investment advice. Continue Reading: Binance Founder CZ Comments on Mantra (OM) Crash! Reveals Indicator to Follow for Risks in Altcoins!
Just a day after the U.S. Customs and Border Protection quietly announced a temporary reciprocal tariff exemption for select electronics, Commerce Secretary Howard Lutnick publicly backtracked the move. Speaking to ABC News on April 13, Lutnick said the exemption was short-lived and would soon give way to a broader, more targeted tariff regime focused on semiconductors, smartphones, and computing components. “President Trump has called out pharmaceuticals, semiconductors, and autos,” Lutnick said, pointing to the administration’s sector-based tariff plans. “These aren’t bargaining chips. These are strategic industries that must be rebuilt here at home.” The quick reversal underscores the administration’s firm stance on economic nationalism, particularly regarding goods seen as vital to national security. While the initial exemption had raised hopes of easing tensions with China, Lutnick made it clear the administration isn’t budging on critical supply chains. “We can’t be relying on China for the things we fundamentally need,” he added, drawing a sharp line around sectors the White House deems non-negotiable. Policy Confusion Sends Markets Into a Tailspin The inconsistency in communication over tariff policy didn’t go unnoticed by investors. Stocks and crypto both surged after initial rumors of a 90-day tariff pause began circulating earlier in the week, pumping nearly $2 trillion back into markets. But the rally was short-lived. President Trump later denied the pause, sparking a rapid sell-off. Then, when the administration did in fact issue a reciprocal exemption—albeit briefly—markets bounced again, only to falter once more after Lutnick’s clarification on April 13. “Markets hate uncertainty, and this is a case study in it,” said one Wall Street analyst. “Every time they say one thing and do another, traders get burned.” Strategic or Chaotic? Bloomberg’s Eric Balchunas pointed out that the S&P 500 had surpassed Bitcoin in volatility. According to him, the index hit a volatility score of 74 in April—higher than Bitcoin’s 71. While some see the administration’s tariff flip-flop as poor messaging , others believe it signals a calculated pivot toward long-term economic restructuring. With semiconductors and other tech products becoming modern-day lifelines, Lutnick’s remarks suggest the U.S. is preparing for a more entrenched and strategic trade stance—one that may continue to rattle markets before any sense of clarity returns. The post U.S. Pulls Back Pause on Electronics Tariff, Citing National Security appeared first on TheCoinrise.com .
Although the 1-day chart showed a strong bearish bias, WIF might not be ready for its next impulse move until the next New York trading session.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. As memecoins like Shiba Inu steal the spotlight, Lightchain AI quietly rises with real-world utility, AI integration, and a 23,476% growth forecast for 2025. Table of Contents 23,476% surge predicted: What’s driving Lightchain AI’s growth? How does Lightchain AI differ from other cryptos? Why now is the time to invest in Lightchain AI As Shiba Inu ( SHIB ) continues to capture headlines, a new contender is emerging with the potential to outshine it: Lightchain AI. Currently priced at just $0.007, Lightchain AI has already raised an impressive $19 million in its presale, signaling strong investor confidence. Unlike memecoins, Lightchain AI focuses on real-world applications, aiming to transform industries through its unique approach. With analysts forecasting a staggering 23,476% surge in 2025, Lightchain AI is positioning itself as a formidable player in the crypto space, offering early investors a promising opportunity for substantial returns. 23,476% surge predicted: What’s driving Lightchain AI’s growth? Lightchain AI is predicted to witness an incredibly massive rise of 23,476% in 2025 due to the fusion of blockchain technology and artificial intelligence, which they are innovating with. In contrast to the way it has always been with traditional cryptocurrencies, Lightchain AI excels in providing a real-time AI platform and implementing security and transparency associated with blockchain systems at the same time. This approach has resulted in interest from both the money-minded and the tech-savvy people and laid the foundation for a flow of decentralized AI-driven applications. For $0.007 per token, Lightchain AI is now in its presale phase with the prospect of early investors making a huge return on their investment if they decide to take hold of the tokens before they become widely used. Lightchain AI has everything in its favor to experience a substantial rise in 2025, as it has a smart community-driven business plan that unlocks a promising entry price. For people who are mindful of their cryptocurrency investment, it is an appealing option to invest in the highly volatile cryptocurrency market. You might also like: Investors who predicted Solana’s rise to $258 weigh in on its competitor, Lightchain AI How does Lightchain AI differ from other cryptos? Lightchain AI distinguishes itself from traditional cryptocurrencies by integrating artificial intelligence with blockchain technology, prioritizing performance, efficiency, and practical utility. Unlike memecoins or generic tokens, Lightchain AI is purpose-built to support next-generation AI applications through a decentralized infrastructure. The project focuses on scalability and seamless integration, ensuring accessibility for both developers and businesses. While many cryptocurrencies emphasize financial transactions or capitalize on market trends, Lightchain AI is positioned as a foundational platform for AI innovation. This forward-thinking approach has attracted the interest of investors seeking long-term value beyond short-term speculative gains. By combining AI and blockchain in a unique and purposeful way, Lightchain AI emerges as a strong contender in the rapidly evolving cryptocurrency landscape. Is now the time to invest in Lightchain AI? Lightchain AI is a rare, early-stage opportunity that’s already making waves. With a presale price of $0.007 and $19 million raised in stage 15, it’s quickly becoming one of the hottest blockchain projects of the year. What sets Lightchain AI apart? It’s where artificial intelligence meets blockchain. This game-changing integration powers decentralized AI applications with real-world uses. And with demand for AI-driven blockchain solutions expected to skyrocket in 2025, this is a chance to get in early. As adoption grows and the platform evolves, Lightchain AI’s strong tech and vibrant community are set to drive its value to incredible new heights. For more information on Lightchain AI, visit the website , X , or Telegram . Read more: As Dogecoin and Cardano struggle, Lightchain AI is quietly gaining toward $1 Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
Bullish bitcoin (BTC) options strategies are becoming popular again, stabilizing a crucial sentiment indicator that indicated panic early last week. BTC has bounced to over $84,000 since probing lows under $75,000 last week. The recovery comes as the bond market chaos supposedly forced President Donald Trump to capitulate on tariffs just days after announcing sweeping import levies on several nations, including China. Late Friday, The Trump administration issued new guidelines, sparing key tech products like smartphones from his 125% China tariff and baseline 10% global levy. Hours later, Trump refuted the news, suggesting no relief on tariffs. Still, the price recovery saw emboldened traders chase upside in BTC through the Deribit-listed call options. A call gives the purchaser the right but not the obligation to buy the underlying asset at a predetermined price on or before a specific date. A call buyer is implicitly bullish on the market, looking to profit from an expected price rise. A put buyer is said to be bearish, looking to hedge or profit from price swoons. "Trump's bond-market-crisis fueled tariff-walkback flipped the vocal narrative from aggression to capitulation, and the markets from capitulation to aggressive bounce. Protective/Bear play BTC $75K-$78K [strike] Puts were dumped, and $85K-$100K [strike] Calls were lifted as BTC surged from $75K-$85K," Deribit said in a market update. The pivot to upside calls has normalized the options skew, which reflected strong put bias or downside fears early last week, according to data tracked by Amberdata. The skew measures the implied volatility (demand) for calls relative to puts and has been a reliable market sentiment indicator for years. The 30-, 60-, and 90-day skews have rebounded to just above zero, up from deeply negative levels a week ago, indicating a decrease in market panic and a resurgence of upside interest. Although the seven-day gauge remains negative, it reflects a notably weaker put bias than a week ago when it dropped to -14%. $100K is the most popular bet Another data point likely to energize the recently battered market participants is the distribution of open interest, highlighting the resurgence of the $100K call as the most favored options bet on Deribit, which accounts for over 75% of global options activity. As of writing, the $100K call boasted a cumulative notional open interest of nearly $1.2 billion. The notional figure represents the U.S. dollar value of the number of active option contracts at a given time. Calls at $100K and $120K were popular early this year before the market swoon saw traders deploy money in the $80K put last month. The chart shows the concentration of open interest in calls at strikes ranging from $95,000 to $120,000. Meanwhile, the $70K put is the second-most popular play with an open interest of $982 million.
Key takeaways : Binance coin price prediction for 2025 indicates that the coin’s price could reach a maximum price of $1,087.08. The Binance coin price prediction for 2028 projects a maximum price of $2,898.87 and a minimum price of $2,536.51. By 2031, BNB’s price could surge to $4,710.66 with broader acceptance in mainstream finance. After notable changes in its executive team, Binance has shown resilience and prospects for recovery. The departure of Changpeng Zhao, Binance’s CEO, who was also embroiled in legal challenges, initially caused a decline in the value of Binance coin (BNB). Despite this initial setback, the cryptocurrency has shown a positive trend. What’s next for BNB in the remainder of 2025 and beyond? What can be the future price movements? Let’s get into the BNB price prediction and technical analysis. Overview Cryptocurrency Binance coin Token BNB Price $588.2 Market Cap $83.78B Trading Volume $1.35B Circulating Supply 142.47M BNB All-time High $788.84 Dec 04, 2024 All-time Low $0.09611 Oct 19, 2017 24-hour High $595.77 24-hour Low $581.39 Binance coin price prediction: Technical analysis Metric Value Volatility 3.95% 50-Day SMA $603.97 14-Day RSI 51.75 Sentiment Neutral Fear & Greed Index 45 (Fear) Green Days 15/30 (50%) 200-Day SMA $633.56 Binance coin price analysis: BNB recovers at $588.2 TL;DR Breakdown: Binance Coin price analysis confirmed an uptrend at $588.2. Cryptocurrency has gained up to 0.81% of value. BNB coin prices target the next resistance at $597.5. On April 14, 2025, Binance Coin price analysis revealed an increasing trend for the cryptocurrency. The coin price has jumped to $588.2 in the last 24 hours. Concurrently, the cryptocurrency gained up to 0.81% of its value today. Yesterday, the coin plunged to $580.2, where support appeared, triggering today’s bullish trend. BNB/USDT price analysis on the daily timeframe The one-day price chart of Binance Coin confirmed an inclining trend in the market. BNB/USD value has appreciated to $588.2 through the day. A green candlestick on the price chart signify a rising buying activity. The distance between the Bollinger bands defines the volatility. This distance is contracting, indicating decreasing volatility. Moreover, the upper limit of the Bollinger Bands indicator, acting as the resistance, has shifted to $635. Conversely, its lower limit, serving as the support, has moved to $549.9. BNB/USDT ascends to $588.2 The Relative Strength Index (RSI) indicator is in the neutral region. The indicator’s value receded yesterday, but today, it has recovered to 48.06. This movement signifies a growing bullish pressure today. BNB price analysis on a 4-hour chart The four-hour price analysis of Binance Coin also confirmed a returning bullish trend in the market following a significant correction in the earlier hours. BNB/USD value has significantly increased to $588.3 in the past four hours. The decrease in volatility levels indicates relatively lower signs of reversal in the future. The Bollinger bands are contracting, leading to a subtle decrease in the volatility. This decrease in volatility indicates a higher market predictability. Moving ahead, the upper Bollinger band has shifted to a $599 high, indicating the resistance. Conversely, the lower Bollinger band is at a low of $577.1, hinting at the strongest support level. Binance Coin ascends to $588.3 The RSI indicator is hovering in the upper half of the neutral region. Currently at 54.56 and moving slowly upwards, this marks an increasing trend. The bullish slope on the indicator’s graph signifies a returning buying impulse. BNB technical indicators: Levels and action Daily simple moving average (SMA) Period Value ($) Action SMA 3 581.13 BUY SMA 5 588.13 BUY SMA 10 583.60 BUY SMA 21 602.33 SELL SMA 50 603.97 SELL SMA 100 636.72 SELL SMA 200 633.56 SELL Daily exponential moving average (EMA) Period Value ($) Action EMA 3 567.35 BUY EMA 5 573.00 BUY EMA 10 584.92 BUY EMA 21 596.78 SELL EMA 50 610.53 SELL EMA 100 623.72 SELL EMA 200 618.08 SELL What to expect from Binance coin price analysis Binance Coin price analysis gives out a bullish prediction regarding the ongoing market trends. The cryptocurrency value has increased to $588.2 in the past 24 hours. From an overall perspective, the currency gained up to 0.81 percent of its value. Technical indicators give out a negative verdict, but the price charts continue to support buyers for the day. Is BNB a good investment? Considering the recent price moves, purchasing Binance coins and holding them for an extended period could yield significant returns. From a five-year plan standpoint, it is projected to see a large increase, possibly rising above $4,710.66 in 2031. However, financial choices shouldn’t be made exclusively based on our data. Why is BNB up? BNB’s price increased over the last 24 hours towards the resistance at $597. Buyers stepped in to buy the assets; However, the support floor at that level seems stable because the Bulls secured the level this week. In addition, the coin is now trading below the psychological mark of $600. Will BNB reach $800? Most crypto analysts, including WalletInvestor and Coincodex, are bullish on BNB. According to Binance coin price prediction, its price is expected to cross the $800 mark in 2025, which would be higher than the current Binance coin price. Will BNB reach $2000? Currently, BNB is feeling pressure from legal challenges around its ecosystem. However, as these issues are settled by next year, the coin’s price is expected to start a bull run. As per the Binance coin price prediction, BNB will reach $2000 at the end of 2027. Will BNB reach $3000? Binance allows users to save up to 25% on spot margin trading fees by using BNB. Another factor is that users can save up to 10% on future trading expenditures with the token, which makes it a primary choice. Binance also uses a significant portion of its earnings to buy back BNB. The burning process also decreases the token supply and increases demand, which is expected to increase in value above $3000 in 2029, according to Binance coin price prediction. Does BNB have a good long-term future? All cryptocurrencies involve risks and uncertainties. However, BNB has a strong market position and a management team that runs the world’s largest cryptocurrency exchange. BNB has the potential for increased utility and is expected to retain a strong position in the cryptocurrency sphere. Binance coin price prediction suggests that holding it for the long haul is a good option, with tenfold expected returns in five years and the price reaching $4,710.66 by 2031. Recent news/opinion on BNB On-chain activity statistics show that BNB Chain is now the top EVM chain. The number of transactions, fees, and active addresses has increased significantly on BNB Chain. 🔥 @BNBChain is now the top EVM chain by on-chain activity. Active Addresses, transactions and fees; everything on #BNB Chain is going up-only. BULLISH 🚀 pic.twitter.com/TssxB2toEn — Elja (@Eljaboom) March 31, 2025 Binance founder and ex-CEO CZ reshared his post stressing mental health. He said if the crypto dip is stressful for you, then you should reduce your positions for peace of mind. He was replying to a question by a user who goes by the BillionAirSon, asking him his views on present markets. If you got shaken out during the dip, reduce your size to a level you can handle. Mental stability beats all market volatility. https://t.co/RRhEpBf3G6 — CZ 🔶 BNB (@cz_binance) March 1, 2025 BNB price predictions for April 2025 According to expert analysis, Binance coin could reach a maximum price of $667 in April 2025. The average trading price is expected to be $615 for the month, while the lowest it can go is $533. Period Potential Low Potential Average Potential High Binance coin price prediction April 2025 $533 $615 $667 BNB price prediction 2025 According to the Binance coin price prediction for 2025, BNB might reach a minimum price of $505.61. The maximum price can reach $1,087.08, with an average trading price of about $905.90. Period Potential Low Potential Average Potential High 2025 $505.61 $905.90 $1,087.08 BNB price prediction 2026 – 2031 Year Minimum Price Average Price Maximum Price 2026 $1,328.65 $1,509.83 $1,691.01 2027 $1,932.58 $2,113.76 $2,294.94 2028 $2,536.51 $2,717.69 $2,898.87 2029 $3,140.44 $3,321.62 $3,502.80 2030 $3,744.37 $3,925.55 $4,106.73 2031 $4,348.30 $4,529.48 $4,710.66 Binance coin price prediction 2026 In 2026, BNB may scale to a maximum of $1,691.01, with an average price of $1,509.83 and a minimum of $1,328.65. Binance coin price prediction 2027 For 2027, the Binance Coin price forecast suggests that BNB could achieve a maximum valuation of $2,294.94, with an average trading price of $2,113.76 and a minimum of $1,932.58. Binance coin price prediction 2028 In 2028, BNB is projected to have a maximum price of $2,898.87, an average price of $2,717.69, and a minimum value of $2,536.51. Binance coin price prediction 2029 By 2029, BNB could reach a maximum of $3,502.80, with an average trading price of $3,321.62 and a minimum of $3,140.44. Binance coin price prediction 2030 In 2030, BNB may attain a maximum valuation of $4,106.73, with an average price of $3,925.55 and a minimum of $3,744.37. Binance coin price prediction 2031 Binance coin (BNB) could reach a maximum price of $4,710.66 in 2031, with an average value of $4,529.48 and a minimum of $4,348.30. Binance coin price prediction 2025 – 2031 BNB market price prediction: Analysts’ BNB price forecast Firm Name 2025 2026 DigitalCoinPrice $1,324.59 $1,566.46 CoinCodex $1,405.42 $1,122.34 Cryptopolitan’s BNB price prediction Our forecast shows that Binance coin will achieve a high price of $1,059.12 near the end of 2025. In 2026, BNB’s price will range between $1,299.25 and $1,678.93. In 2031, it will range between $4,280.29 and $4,690.18, with an average of $4,421.32. It is important to consider that the predictions are not investment advice. Professional consultation is suggested, or you can carry out your research. Binance Coin historic price sentiment Binance Coin (BNB) was launched in July 2017 through an Initial Coin Offering (ICO), with an initial price of around $0.10, according to historical crypto market data. As a utility token for the Binance cryptocurrency exchange, it offered users reduced trading fees. In late 2017, BNB’s price significantly increased and reached its first major peak in January 2018, hitting approximately $24. However, it experienced a decline following the broader market correction. BNB price history | Coinmarketcap Throughout 2018 and 2019, BNB’s price experienced gradual growth as the BNB market soared. In 2018, BNB traded near $13 for most of the year but dropped to $5 by December. However, BNB reached above $30 in June 2019. Despite the global economic uncertainty caused by the COVID-19 pandemic, BNB maintained relative stability and saw an upward trend in 2020. Due to the growing popularity of Binance as an exchange and the expansion of its ecosystem, the coin touched the $34 range in November 2020. BNB experienced a significant bull run in early 2021, reaching a high above $600 in May 2021. Positive market sentiment helped improve its market cap, which remained at an all-time high until recently. Binance Coin’s price dynamics in 2022 were characterized by volatility and were influenced by a combination of macroeconomic factors and regulatory developments around the Binance exchange, which led to a bearish scenario. This took BNB to less than $220 in June and an average price of $250 in December. BNB remained a significant player in the cryptocurrency market in 2023, recovering to about $350 in April. However, it soon lost momentum, reaching about $205 in October. In late December, BNB climbed back to about $325. At the beginning of 2024, Binance Coin (BNB) traded near $300, surged to an all-time high of $717.48 in June, fluctuated between $488 and $661 through the year, and closed December at $700.3. In January 2025, BNB maintained an average price of $697, but it decreased to $589 by the end of February. In March 2025, BNB was trading near the psychological mark of $600, which it still continues to do so in April.
Major crypto exchanges like Binance and OKX have reacted to the recent OM price crash, ensuring users that they will look into the situation and report their findings. On April 14, a day after the Mantra token’s market cap suffered a loss of $5.5 billion due to market volatility, Binance issued a statement through the exchange’s Customer Support account on X, reacting to the recent price crash. According to the recent post , Binance’s initial findings reveal that the price crash was due to a series of cross-exchange liquidations that occurred over the past day. Binance is aware that $OM , the native token of MANTRA, has experienced significant price volatilities. Our initial findings indicate that the developments over the past day are a result of cross-exchange liquidations. Since October of last year, Binance has implemented various… — Binance Customer Support (@BinanceHelpDesk) April 14, 2025 In light of the token’s volatile state, Binance confirmed that it had attached a pop-up warning for OM ( OM ) token’s spot trading since January 2025, which informed users that the Mantra token had seen “significant changes” in its tokenomics, indicated by an increase in token supply. “We remain dedicated to monitoring the situation closely and will continue to take appropriate actions to protect our users and maintain the integrity of our platform. Thank you for your continued trust in Binance,” said the Binance Help Desk account. At press time, the Mantra token has experienced a near 90% drop in the past 24 hours. Its market cap stands at $764 million, plummeting from a previous $6 billion high. The token is currently trading hands at $0.79, down 91% from its earlier all-time high of $8.99 from last February. Price chart for OM in the past few hours of trading, following the major price drop, April 14, 2025 | Source: crypto.news Read more: Mantra price plummets: What happened to the real-world asset token? In addition, Binance also stated that it had decreased leverage levels for the OM token since October last year. Despite this fact, many traders in the comments section criticized the exchange for not delisting the token before the incident occurred. On the other hand, OKX CEO Star deemed the OM price drop as “a big scandal to the whole crypto industry.” Star also assured the crypto exchange will be preparing reports based on the incident, as all the information is available on-chain. “All of the on-chain unlock and deposit data is public, all major exchanges’ collateral and liquidation data can be investigated. OKX will make all of the reports ready!” stated Star in a recent post . On-chain data from CryptoNinjas revealed that 127 million OM or 13% of the token’s circulating supply has been withdrawn from Binance in the past month. Meanwhile, OKX has seen nearly 70 million token deposits, which was more than 50% of the amount withdrawn from Biannce. What happened to OM? Last weekend, OM experienced a major price crash by 90%, falling from $6.30 to under $0.50 in the span of just a few hours. Mantra chief executive officer JP Mullin alleged that OM’s recent price crash was due to “reckless forced closures initiated by centralized exchanges on OM account holders.” Mullin claimed that the sell-off was not due to token sales by either the internal team or investors, stating that the OM tokens remain under lock based on the project’s vesting timeline. “Centralized exchange partners play an important role in providing liquidity to projects like ours. We work closely with them, however they continue to exercise enormously high levels of discretion,” said Mullin. However, on-chain analysts seem to disagree, with many stating that the sell-off began when 3.9 million OM was deposited on OKX by a wallet linked to the Mantra team. Crypto analyst Max Brown said the team allegedly holds almost 90% of the token’s total supply, which triggered the market sell-off that led to the token losing $5.5 billion in market cap. Read more: Mantra CEO blames 90% OM token crash on forced exchange liquidations
The post Chinese Fraudsters Jailed for Defrauding Indians of $6M in Crypto Investment Scam appeared first on Coinpedia Fintech News A local court in China recently sentenced nine Chinese fraudsters to prison terms over defrauding Indians of about $6 million through USDT fraud. Notably, the scheme involved using translation and chat software to befriend foreigners, gain their trust and trick them into investment by defrauding their money. Over 66,000 Indians Fell To the Scam The case handled by the People’s Court of Heze Economic Development Zone in Shandong Province involved a total of 517 million Indian rupees which is about 40 million RMB targeting 66,800 Indians. The nine fraudsters were sentenced to prison and fined for their involvement in the large-scale scam targeting Indians. He Moutian was the mastermind behind the scam. In May 2023 he set up an office in Heze, China and formed a fraud gang with several other people. The group used overseas servers, appeared to be large investors, and targeted Indians through a fake investment platform called SENEE. Scammers Promised 8%-15% Returns, Stole Millions for USDT Conversion They pretended to be friendly investors on chat apps, offering high monthly returns of 8%-15% on smaller investments like 1,000 rupees. Once people put in larger sums of money, the gang would shut the platform and freeze the funds. The stolen money was then used to buy USDT through a third-party payment platform which was later converted into RMB or US dollars, with the group keeping 15% as profit. Scammers Used Fake Identities and Coordinated Closely One of the scammers, Li Mouwang, admitted to pretending to be a rich Indian woman who made money through smart investments. She used chat apps to build trust and fake relationships with Indian men and lured them into investing in the fake SENEE fund. Furthermore, the gang also posted fake lifestyle photos like gym selfies and travel pics and also set their app location to Indian cities. A fake company website with edited licenses, registration certificates and business documents was also created to make the investment platform seem genuine and gain customer trust. The court found that the group was highly organised with clear roles and tight coordination. All the nine members were sentenced to 5 to nearly 15 years in prison and fined. The Judge noted that although this case targeted foreigners, however online scams are common inside China too. It warned the public to not fall for promises of easy money, special insider tips or cashbacks for placing orders as they are all signs of scams. The authorities are increasingly cracking down on telecommunications network fraud and the judge has urged the fraudsters to surrender for lighter punishment.
Binance has released a statement acknowledging the recent price volatility surrounding the MANTRA project’s native token, OM, attributing the move to cross-exchange liquidations and significant changes to the token’s supply structure. Binance Announces OM Token Amid Cross-Exchange Liquidations and Tokenomics Shift The exchange stated risk control measures and ongoing monitoring following sharp price fluctuations in MANTRA’s native token. According to the exchange, its internal analysis shows that the price fluctuations observed over the past 24 hours were largely the result of gradual liquidations across multiple trading platforms. OM experienced sharp price movements that caught the attention of investors and led to the platform reaffirming its risk management practices. “Since October last year, Binance has proactively implemented various risk control measures, including reducing the available leverage for OM. These actions are part of our ongoing efforts to adjust risk exposure in response to evolving market conditions,” the company said in a statement. The exchange also noted that in January, OM published an alert message on its spot trading page to inform users about significant changes in token supply dynamics. This message refers to changes to OM’s tokenomics that have increased the circulating supply. In light of recent price action, Binance has updated this alert to highlight the token’s high volatility. Despite the turbulence, Binance reiterated its commitment to protecting users through continuous monitoring and responsive platform management. “We are committed to monitoring the situation closely and will continue to take appropriate measures to protect our users and preserve the integrity of our platform,” the exchange said. OM’s recent volatility highlights the broader risks associated with tokenomic changes and leveraged trading, particularly when amplified by fragmented liquidity across exchanges. Binance’s public statement and additional measures reflect increasing pressure on major trading platforms to improve transparency and risk mitigation in the face of increased market scrutiny. *This is not investment advice. Continue Reading: Bitcoin Exchange Binance Made a Statement About OM Token, Which Had a Big Drop! Here Are the Details