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BlockBeats News, June 11th. A transnational scam case in Ohio, USA, where individuals impersonated Middle Eastern royalty, was recently sentenced. The two masterminds were sentenced to 24 years and 23 years in prison, respectively, and were ordered to pay approximately $21.2 million in restitution. In the case, 42-year-old Zubair Al-Zubair and 31-year-old Muzammil Al-Zubair were accused of long-term impersonation of Middle Eastern royal family members and hedge fund managers, conducting scams under the guise of "government cooperation + cryptocurrency mining investment," and gaining trust through fabricated identities and official relationships. The investigation revealed that the two individuals bribed local officials to obtain titles such as "International Economic Advisor," further enhancing the credibility of their projects. One of the main victims was a Chinese cryptocurrency investor. It was disclosed that the investor had been involved in Bitcoin mining in Sichuan in earlier years, then went to the United States for development. In Ohio, the investor was introduced to a fraudulent mining project, where he invested cash and equipment, resulting in a total loss of nearly $18 million (approximately 130 million RMB). During the scam, victims were asked to pay millions of dollars and purchase mining equipment, some of which was later transferred and sold at low prices. The case was eventually exposed when another victim reported it to the police, who then launched an investigation to trace the funds. During sentencing, the judge pointed out that the two individuals used false identities and a luxurious lifestyle to carry out systematic fraud, severely damaging the reputation of local public institutions. Former municipal officials who assisted in the scam were also sentenced.

BlockBeats News, June 11th, according to on-chain analysis firm LookIntoBitcoin, multiple large entities have been accumulating Bitcoin recently, with funds flowing out from exchanges and custody services. In a recent development, the whale address bc1q2q has moved 2,341 BTC out of an exchange in the past 5 days, amounting to approximately $144.68 million. Additionally, three newly created wallet addresses have collectively withdrawn 737.7 BTC from BitGo, totaling around $45.6 million.

On June 11, on-chain analyst @ai_9684xtpa reported that a whale shorting $ETH has once again taken profits by cashing out 4,386 ETH, realizing a profit of $233,000. The whale currently has 99.75 million USDT collateralized to borrow 23,618.97 ETH for shorting, with an average price of $1,672. Since yesterday, they have cumulatively taken profits on 11,386 ETH, achieving a total profit of $423,000.