💧Revealed - Bhutan has been secretly mining bitcoin since years! 👀

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Here's what's trending in the past 24 hours 👇

1. Mining a treasure: A look at Bhutan's Bitcoin mining adventure 🤑 

2. Crypto crackdown continues: SEC fines Coinme nearly $4 million 🙈

3. Collateral Caper: Lending platform OVIX drained for $2 million 😢

Bhutan's big bitcoin bet 👀

As if the news of Bhutan investing millions in $BTC through BlockFi and Celsius wasn't compelling enough, the latest developments have added a new level of fascination to the story 💥

It has now been confirmed that Druk Holding and Investments (DHI), Bhutan's Government-owned holding company, has been mining Bitcoin for several years, ever since $BTC was valued at around $5,000 (HODLing before it was cool 👑)

The company has clarified that mining Bitcoin has been a strategic move and not driven by FOMO 💯 The company pays for itself by selling Bitcoin to cater for the operational mining costs 🙏

As a result, despite the brutal crypto winter, the company has not only avoided any losses on its $BTC holdings but has also managed to pay back all outstanding loans from Celsius and BlockFi 💪

Additionally, Bhutan's renewable energy source, which is generated through hydro projects, powers the mining operation. The country generates nearly 100% of its electricity from renewable sources, making it ideal for mining digital assets. 🔋

The SEC strikes again 💥

The SEC is on a rampage❗️Days after charging 5 individuals for manipulating the price of the $HYDRO token, the watchdog has scored it's 2nd victory by issuing fines of nearly $4 million to Coinme, UpGlobal and Bergquist 🙈

This time around, the regulator alleged that Coinme and Up Global misled investors in the 2017 ICO and knowingly inflated the amounts raised by the ICO ❗️

Coinme rewarded its ATM customers with a 1% cashback in UpToken, purchased using funds from transactions made through its network of Bitcoin ATMs 👀

It seems that the defendants could not put up a fight, and accepted the fine without admitting or denying wrongdoing 🤔

Coinme and Up Global have been issued fines of a combined $3.77 million, while Bergquist has been asked to pay $150,000 👀

With the SEC breathing down the neck of the crypto ecosystem, it's anyone's guess who's next on the hit list 🔍

Another day, another DeFi exploit 👀

Another one bites the dust ❗️Polygon-based lending protocol OVIX recently fell victim to an oracle exploit that resulted in losses exceeding $2 million 💸.

The exploit involved the intruder using borrowed stablecoins to gain access to OVIX's lending platform and vGHST pool 🕵️‍♂️.

The attacker deliberately raised the price of vGHST to obtain substantial USDC in loans. Once on the Ethereum main net, the hacker exchanged the stablecoins for 757 ETH 👀

The miscreant then made off with the collateral and even managed to manipulate the market by driving up the price of $GHST by 25% in just half an hour 📈

With regulations rampant and DeFi hacks on the rise, we'll let you decide who's having a better week at work, the SEC or the hackers? 🙈 (The only commonality is that both are harmful for the industry 😂)

Remember people, always research thoroughly before investing your money in crypto, as this nascent industry is still plagued by bad actors. Don't forget to practise strict risk management and safe storage practises 🙏

Meme of the day

Newbie traders 1hr after getting liquidated on a 10X leverage trade 😂

Thanks for joining us on this daily crypto adventure 💯 We hope you found our newsletter as exciting and informative as we did. Remember to keep your wallets secure and invest responsibly. Until next time, keep bitcoining 💪

Disclaimer: This newsletter is for educational purposes only and does not constitute financial advice or an offer to buy or sell assets. You must exercise caution and conduct your research before making any financial decisions