Crypto Summary: Trust Wallet Hack, Uniswap Fees, Coinbase

In this week’s 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 compensation for breach victims

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

Indian police arrest suspect in Coinbase data breach

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

Uniswap governance transforms tokenomics

• Uniswap Labs and Uniswap Foundation’s ‘UNIfication’ proposal received overwhelming support from voters to activate protocol fees and burn millions of UNI tokens.

Trump Media Conducts Large Bitcoin Transfers

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

Polymarket attributes breaches to the login provider

• The prediction market platform blamed an unidentified third-party login provider for recent account compromises involving multiple users, according to Discord channel confirmations.
• Social media posts on Reddit and

Russia proposes a tiered trading framework for cryptocurrency

• The Bank of Russia has unveiled a new regulatory structure that will allow both qualified and non-qualified investors to trade cryptocurrencies under separate rule sets.
• The proposal classifies cryptocurrencies and stablecoins as foreign currency assets permitted for trading but prohibited for payment use within Russia.

Bybit announces withdrawal from the Japanese market

• Bite announced it will limit services for Japanese residents next year to comply with the country’s financial regulations.
• The company did not specify which specific services would be affected, but stated that affected users will receive detailed communications once the restrictions take effect.

Coinbase acquires a clearing company for prediction markets

• The cryptocurrency exchange entered into a deal to purchase The Clearing Company, furthering its event-based trading expansion as part of its “all-exchange” strategic vision.
• The acquisition follows Coinbase’s recent rollout to the prediction market last week.

Indian regulators approve Coinbase-CoinDCX investment

• The Competition Commission of India on Tuesday cleared Coinbase Global’s acquisition of a minority stake in local cryptocurrency exchange CoinDCX.
• The approval furthers the US company’s expansion efforts in the Indian digital asset market through a strengthened partnership with one of the country’s leading platforms.

Zhao outlines strategic priorities after the pardon

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

Bitwise files Sui token ETF application

• The asset management firm has filed registration applications for a spot SUI exchange-traded fund using Coinbase Custody services.