Today in crypto, Aave token stumbles on rumors of different token allocation from World Liberty Financial, Thai police have arrested a South Korean man accused of helping a call center gang launder over $50 million in crypto into gold. Mean…
Today in crypto, Aave token stumbles on rumors of different token allocation from World Liberty Financial, Thai police have arrested a South Korean man accused of helping a call center gang launder over $50 million in crypto into gold. Meanwhile, the IRS head of digital assets division has resigned.
Aave token falls on World Liberty Financial allocation rumors
Decentralized finance (DeFi) protocol Aave’s token (Aave) fell by over 8% on Saturday, after rumors began circulating on social media that the protocol would receive a different token allocation from DeFi platform World Liberty Financial (WLFI).
The rumors started after blockchain reporter Colin Wu said that spokespeople from WLFI told him that news of the deal was “fake,” which sent the price of the Aave token tumbling by over $30 before the price rebounded to current levels.
A proposal was submitted to the WLFI community forum in October 2024 outlining a deal that would see the AaveDAO, which manages the Aave protocol, receive 7% of the WLFI circulating supply and 20% of platform revenues from WLFI.
Decentralized finance has come into sharper focus as institutional involvement in the sector grows. The total value locked (TVL) within DeFi protocols is over $168 billion at the time of this writing, according to DeFiLlama.
Korean man arrested over $50M crypto-to-gold laundering scheme
Thai authorities have arrested a South Korean man accused of helping a call center gang launder cryptocurrencies into gold worth more than $50 million.
The Technology Crime Suppression Division (TCSD) said officers apprehended Han, 33, at Bangkok’s Suvarnabhumi Airport on Saturday under a warrant issued in February, according to a report from The Nation. He faces charges of fraud, computer crimes, money laundering, and involvement in a criminal syndicate.
The case stems from a large-scale call center scam that began in early 2024. Victims were lured into “investment opportunities” promising 30%–50% returns. Initial payouts created a false sense of security, but as deposits grew, withdrawals were blocked with claims that investors had failed to meet requirements.
Dozens of complaints eventually reached the TCSD, prompting a probe that has already led to the arrest of ten suspects, including five alleged launderers and five mule account holders.
IRS crypto boss Trish Turner resigns just 3 months into the role
Trish Turner has resigned as head of the United States Internal Revenue Service’s (IRS) digital assets division after roughly three months in the role.
“After more than 20 years with the IRS, I have closed an extraordinary chapter of my career with deep appreciation for those who shaped my journey and made the work so meaningful,” Turner said in a LinkedIn post on Friday.
“Together, we navigated complex challenges, built lasting programs, and laid the groundwork for the IRS’s digital asset strategy as it shifted from niche to mainstream,” Turner added.
Turner did not say in her post where she will go next, but explained she looks “forward to continuing this mission from a new vantage point and to building bridges between industry and regulators.”
Bloomberg Tax reported on Friday that Turner told the publication during an interview that she will become the tax director at the crypto tax firm Crypto Tax Girl. On the same day, Crypto Tax Girl founder Laura Walter said in a LinkedIn post that Turner will join the firm.
