Trust Wallet Hack, Uniswap Fees, Coinbase

In this week’s edition of the weekly recap, Trust Wallet launched a formal compensation process following the hack, Indian authorities arrested a former Coinbase employee, and Uniswap’s community voted overwhelmingly to activate protocol fees and token burns.

Trust Wallet initiates breach victim compensation

• The cryptocurrency wallet provider announced Friday a formal claims process for users affected by malicious code discovered in version 2.68 of its Chrome browser extension two days earlier.
• Victims can submit compensation requests through an official support form providing email addresses, residence countries, compromised wallet addresses, attacker receiving addresses, and relevant transaction hashes.

Indian police apprehend Coinbase data breach suspect

• Law enforcement in Hyderabad arrested a former Coinbase customer service agent Thursday in connection with the exchange’s May-disclosed data breach according to CEO Brian Armstrong.
• Armstrong stated on X that “we have zero tolerance for bad behavior” and will continue collaborating with authorities, adding “another one down and more still to come.”

Uniswap governance transforms tokenomics

• The “UNIfication” proposal from Uniswap Labs and Uniswap Foundation received overwhelming voter support to activate protocol fees and burn millions of UNI tokens.

Trump Media executes major Bitcoin transfers

• Trump Media and Technology Group moved approximately 2,000 Bitcoin worth roughly $174 million through multiple wallet addresses one day after reportedly increasing holdings to 11,542 BTC.
• Blockchain data tracking revealed the transfers routed Bitcoin across numerous addresses, with approximately $12 million ultimately reaching Coinbase Prime Custody.

Polymarket attributes breaches to login provider

• The prediction market platform blamed an unidentified third-party login provider for recent account compromises affecting multiple users according to Discord channel confirmations.
• Social media posts on Reddit and X documented several users receiving unexpected login alerts before discovering their account balances had been completely drained.

Russia proposes tiered cryptocurrency trading framework

• The Bank of Russia unveiled a new regulatory structure allowing both qualified and non-qualified investors to trade cryptocurrencies under separate rule sets.
• The proposal classifies cryptocurrencies and stablecoins as foreign currency assets permissible for trading but prohibited from payment usage within Russia.

Bybit announces Japanese market withdrawal

• Bybit announced it will restrict services for Japanese residents next year to comply with the country’s financial regulations.
• The company did not specify which particular services would be affected but stated impacted users will receive detailed communications as restrictions implement.

Coinbase acquires clearing company for prediction markets

• The cryptocurrency exchange entered an agreement to purchase The Clearing Company, advancing its event-based trading expansion as part of its “everything exchange” strategic vision.
• The acquisition follows Coinbase’s recent prediction market rollout last week.

Indian regulators approve Coinbase-CoinDCX investment

• The Competition Commission of India authorized Tuesday Coinbase Global’s minority stake acquisition in local cryptocurrency exchange CoinDCX.
• The approval advances the U.S. firm’s expansion efforts within India’s digital asset market through strengthened partnership with one of the country’s leading platforms.

Zhao outlines post-pardon strategic priorities

• Former Binance CEO Changpeng Zhao revealed his 2025 focus areas including BNB Chain development, stablecoin 2.0 initiatives, prediction markets, and AI agents following his presidential pardon.
• Four primary pillars structure his current activities: Giggle Academy educational platform, YZi Labs investments, BNB Chain ecosystem development, and direct policy advisory work with governments from Pakistan to the UAE.

Bitwise files Sui token ETF application

• The asset management firm submitted regulatory filings for a spot SUI exchange-traded fund utilizing Coinbase Custody services.