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24 Mar 2026, 12:24

SOL Eyes $121 as Solana Expands Privacy Tools for Enterprises

The Solana Foundation is pitching a new vision for privacy in blockchain, emphasizing control rather than compromise. In a report released Monday, the organization outlined a “full-spectrum” approach, allowing enterprises to tailor privacy according to their needs. Unlike early blockchain models, which prioritize openness and pseudonymity, Solana aims to give companies flexibility over which information they reveal and to whom. This shift targets real-world use cases where transparency alone cannot satisfy business or regulatory requirements. Spectrum-Based Privacy Model for Enterprises Solana’s approach treats privacy as a gradient rather than a single choice. At the entry level, pseudonymity conceals identities while leaving transaction details visible. Confidentiality encrypts sensitive data while revealing participants’ identities. Anonymity hides participants but keeps transaction data public, and fully private models shield both identities and transactions using advanced techniques like zero-knowledge proofs. Significantly, enterprises can combine these layers depending on the application, whether hiding payroll amounts, proving compliance, or sharing risk data among financial institutions. The foundation emphasizes that Solana’s network speed makes these privacy tools practical. High throughput and low latency allow advanced computations to run at near-web speeds. Consequently, encrypted order books, private credit calculations, and other complex applications become feasible without slowing operations. This technical capability differentiates Solana from networks where privacy often imposes heavy performance costs. Balancing Compliance and Confidentiality Solana also addresses regulatory concerns, framing privacy as compatible with compliance. Tools such as “auditor keys” allow authorized parties to access transaction details when legally required. Other mechanisms let wallets prove compliance without revealing personal data. Hence, companies can maintain confidentiality while adhering to anti-money laundering rules and financial reporting standards. This approach positions privacy as not just a security feature but a market requirement for enterprise adoption. Market Response and Price Context Solana’s (SOL) price reflects growing investor interest. As of press time, SOL trades at $91.83 with a 24-hour volume of $5 billion , showing a 1.10% daily gain despite a 2.18% weekly decline. According to JunarXBT, Solana rebounded strongly from a key support zone, delivering a 42% recovery. The price now holds above this reclaimed level, signaling early bullish strength. However, resistance near $96 remains critical. If bulls flip $96 into support, momentum could accelerate toward the $120–$121 range. Conversely, failure at this level may extend consolidation.

24 Mar 2026, 12:15

Invesco’s Monumental Move: $2.2T Asset Manager Enters Tokenized Treasury Market

BitcoinWorld Invesco’s Monumental Move: $2.2T Asset Manager Enters Tokenized Treasury Market Global asset management giant Invesco has made a landmark entry into the tokenized treasury market, signaling a pivotal moment for institutional adoption of blockchain-based finance. The firm, which oversees a staggering $2.2 trillion in assets, will assume management of crypto asset manager Superstate’s $900 million tokenized treasury fund, USTB. This strategic acquisition, reported by CoinDesk, represents one of the most significant traditional finance forays into digital asset infrastructure to date. Consequently, the move underscores a rapidly maturing convergence between legacy financial systems and decentralized technology. Invesco’s Strategic Entry into Tokenized Treasuries Invesco’s decision to enter the tokenized treasury market is not an isolated experiment. Instead, it is a calculated strategic expansion. The firm will take over the management of the USTB fund, a product built on blockchain rails. Following the transition, the fund will be renamed the ‘Invesco Short Duration US Government Securities Fund’. However, it will retain its USTB ticker for continuity. Significantly, Invesco’s global liquidity team, which manages over $200 billion in short-term assets, will now lead the fund’s investment decisions. This team brings decades of experience in managing government securities, directly applying traditional finance expertise to a blockchain-native product. The tokenized treasury market itself has seen explosive growth. Major financial institutions like BlackRock, Franklin Templeton, and WisdomTree have launched similar products. These funds typically hold short-term U.S. Treasury bills and notes. They then issue digital tokens on a blockchain, representing ownership shares. This process unlocks several key advantages: 24/7 Trading: Unlike traditional funds, tokenized versions can trade around the clock. Enhanced Transparency: Blockchain ledgers provide immutable, real-time records of ownership and transactions. Operational Efficiency: Settlement and transfer processes can be automated and accelerated. Fractional Ownership: High-value assets become accessible to a broader range of investors. Therefore, Invesco’s move validates this model for mainstream institutional portfolios. The Evolving Landscape of Blockchain Finance The entry of a $2.2 trillion asset manager is a powerful signal of market maturation. For years, blockchain finance, or ‘DeFi’, operated largely parallel to traditional systems. Now, major institutions are actively bridging the gap. Tokenization of real-world assets (RWA) is widely seen as the next major use case for blockchain technology. Treasuries, with their high credit quality and liquidity, serve as the ideal starting point. This trend is supported by clear regulatory frameworks for the underlying assets, unlike more speculative crypto assets. Analysts point to several converging factors driving this institutional push. First, higher interest rates have made Treasury yields attractive, increasing demand for efficient access vehicles. Second, the infrastructure for digital asset custody and compliance has improved dramatically. Third, major financial hubs like Hong Kong, the UK, and Singapore are creating clearer regulatory pathways for tokenized securities. Invesco’s involvement adds immense credibility, potentially attracting more conservative capital that has remained on the sidelines. Expert Analysis on Market Impact Financial experts view this development as a critical inflection point. “When a firm of Invesco’s scale and reputation moves into this space, it’s a definitive endorsement of the underlying technology’s utility,” noted a senior analyst at a major investment bank specializing in fintech. “This isn’t about cryptocurrency speculation; it’s about leveraging blockchain for tangible improvements in financial market infrastructure—settlement, transparency, and accessibility.” The timeline of institutional adoption shows a clear acceleration. Early experiments began around 2021-2022 with smaller-scale pilots. By 2023, several large asset managers had filed for spot Bitcoin ETFs, which were subsequently approved. The focus in 2024 shifted strongly toward tokenization of bonds and funds. Invesco’s 2025 move to directly manage a nearly $1 billion tokenized fund represents the logical next step: not just offering a product, but integrating the management of blockchain-based assets into its core operations. The impact extends beyond a single fund. Invesco’s global liquidity team will now gain firsthand experience managing assets on-chain. This expertise will likely inform future product development. It could lead to a broader suite of tokenized money market funds, short-term bond ETFs, and other liquidity products. Furthermore, it pressures competitors to accelerate their own digital asset strategies to avoid losing market share in a potentially transformative area of finance. Understanding the USTB Fund and Its Future The USTB fund, now under Invesco’s stewardship, is a prime example of a tokenized treasury product. It invests primarily in short-duration U.S. government securities. These are considered among the safest assets in the world. The fund’s tokens are issued on the Ethereum blockchain, specifically using the ERC-20 standard. Investors can purchase these tokens through compatible digital asset platforms and wallets. They represent a direct claim on the fund’s underlying assets. Under Invesco, the investment mandate and strategy are expected to remain focused on capital preservation and liquidity. The firm’s massive scale offers potential advantages. For instance, Invesco may achieve better execution on Treasury purchases due to its volume. It can also integrate the fund more seamlessly into its existing risk management and reporting systems. The table below outlines the key before-and-after details of the fund: Feature Prior (Superstate) After (Invesco) Fund Name USTB Fund Invesco Short Duration US Govt Securities Fund Ticker USTB USTB (Retained) Asset Manager Superstate Invesco AUM ~$900 Million ~$900 Million (at transition) Management Team Crypto-native team Invesco Global Liquidity Team ($200B+ AUM) Primary Goal Demonstrate tokenization model Scale institutional product within traditional framework This transition highlights a broader pattern: innovative crypto-native projects creating market proof-of-concepts, which are then scaled by established financial giants with distribution and trust. Conclusion Invesco’s entry into the tokenized treasury market is a watershed moment for blockchain finance. By taking over the $900 million USTB fund, the $2.2 trillion asset manager provides a powerful vote of confidence in the tokenization of real-world assets. This move blends traditional financial expertise with innovative technology, aiming to improve efficiency, transparency, and access in the treasury market. As Invesco’s global liquidity team assumes control, the industry will watch closely. Their success could catalyze a new wave of institutional adoption, further cementing tokenized treasuries as a foundational component of the modern financial landscape. The convergence of traditional finance and blockchain technology is no longer a speculative future—it is the operational present. FAQs Q1: What is a tokenized treasury fund? A tokenized treasury fund holds traditional government securities like U.S. Treasury bills and issues digital tokens on a blockchain that represent ownership in those assets. This allows for 24/7 trading, fractional ownership, and increased transparency. Q2: Why is Invesco’s move into this market significant? Invesco manages $2.2 trillion in assets, making it one of the world’s largest asset managers. Its entry signals that major traditional financial institutions now view blockchain-based finance as a legitimate and strategic area for growth, lending immense credibility to the entire sector. Q3: Will the USTB fund change under Invesco’s management? The fund will be renamed the ‘Invesco Short Duration US Government Securities Fund’ but will keep its USTB ticker. The investment strategy focusing on short-term U.S. government securities is expected to continue, but will now be managed by Invesco’s experienced global liquidity team. Q4: What are the benefits of tokenizing treasury funds? Key benefits include operational efficiency through faster settlement, enhanced transparency via the blockchain ledger, the ability to trade 24/7, and access for a wider pool of investors through fractional ownership. Q5: Does this mean Invesco is investing in cryptocurrencies like Bitcoin? Not directly through this action. The USTB fund invests in traditional U.S. government debt. The innovation lies in using blockchain technology to represent ownership and facilitate trading of these traditional assets, which is different from investing in volatile cryptocurrencies themselves. This post Invesco’s Monumental Move: $2.2T Asset Manager Enters Tokenized Treasury Market first appeared on BitcoinWorld .

24 Mar 2026, 11:57

GhostSwap Launches Telegram Trading Bot: Instant No-KYC Crypto Swaps Now Available Directly in Telegram

Telegram has become the most important distribution channel in cryptocurrency. With over 900 million monthly active users and a deeply entrenched crypto community, the messaging app now hosts an entire ecosystem of trading bots processing billions in volume. GhostSwap , the privacy-first non-custodial exchange, has extended its full swap capabilities to a Telegram bot – supporting over 1,600 cryptocurrencies with zero KYC requirements. What Makes This Bot Different Existing Telegram crypto bots overwhelmingly focus on DEX sniping within a single blockchain, typically Ethereum or Solana. Users who want to swap between chains, access privacy coins like Monero, or trade across less popular networks have been left without options. And critically, most Telegram bots require users to deposit funds into bot-controlled wallets, introducing the same custodial risk that drove users away from centralized exchanges. GhostSwap’s bot solves both problems. It supports cross-chain swaps across all major blockchains with 1,600+ assets, and it operates on a fully non-custodial model. Funds move directly between user wallets – the bot never takes custody. No accounts, no email, no identity documents required at any transaction size. How It Works Users open a chat with the GhostSwap bot and select a trading pair – for example, BTC to XMR via the platform’s popular Bitcoin-to-Monero swap route. The bot displays the current rate, estimated completion time, and minimum swap amount. The user enters their destination wallet address, receives a one-time deposit address, and sends funds. Real-time status updates track the transaction through confirmation, conversion, and delivery. Most swaps complete in 5 to 30 minutes. Why Telegram Is the Right Platform Global accessibility. Telegram works well on low-bandwidth connections and is accessible in virtually every country. For users in regions where crypto exchange websites may be blocked or throttled, the bot provides an alternative channel. Community integration. Crypto communities operate primarily through Telegram groups. A swap bot accessible within the same app where users discuss projects and share trading ideas creates a seamless workflow: see a token mentioned, swap into it within seconds. No additional attack surface. No exchange app installed on the device, no browser history, no bookmarks. Users who already rely on Telegram for encrypted communication can conduct swaps without expanding their digital footprint. Market Context GhostSwap’s Telegram bot enters a rapidly growing segment. Telegram trading bots have processed billions in volume since 2023, with platforms like Maestro and Banana Gun proving the model’s viability. However, most existing bots are limited to single-chain DEX trading. GhostSwap’s offering sits in the gap between narrow DEX bots and traditional exchange bots: broader cross-chain capability, genuine non-custodial execution, and a strict no-KYC policy that never triggers verification regardless of transaction size. With over $750 million in cumulative swap volume and 1.5 million users on its web platform, the Telegram bot extends an already proven infrastructure to a new distribution channel. Availability The GhostSwap Telegram bot is available now. Users can access it through the GhostSwap website or search for it directly within Telegram. No registration or setup is required. About GhostSwap GhostSwap is a privacy-first, non-custodial cryptocurrency exchange that enables instant swaps across 1,600+ digital assets without registration, identity verification, or account creation. The platform has processed over $750 million in crypto swaps and serves more than 1.5 million users worldwide. Learn more at GhostSwap . The post GhostSwap Launches Telegram Trading Bot: Instant No-KYC Crypto Swaps Now Available Directly in Telegram appeared first on Cryptonews .

24 Mar 2026, 11:30

Ethereum Unveils Post-Quantum Security Roadmap For Institutions

Ethereum is beginning to formalize its post-quantum security push in public. ETH Foundation researcher Will Corcoran used a presentation at the Institutional Ethereum Forum in New York to lay out both the threat model and the protocol work already underway. The effort matters well beyond ETH, he argued, because the core bottleneck is not unique to one chain: every proof-of-stake network built on today’s cryptographic assumptions will eventually face the same scaling problem. Alongside the talk, the Ethereum Foundation launched pq.ethereum.org, a new portal that packages the project’s roadmap, technical resources, FAQs for institutions, and a registration form for a post-quantum retreat in Cambridge in October 2026. Corcoran framed the site as a way to consolidate years of research and answer what he described as growing inbound interest from institutions asking how Ethereum plans to prepare for a future in which quantum computers can break elliptic-curve cryptography. Ethereum Eyes Post-Quantum Industry Standard That future is still projected to be years away, but Corcoran said Ethereum is already working against a tight window. He pointed to current estimates for “ Q-Day ”: the arrival of a cryptographically relevant quantum computer, clustering around 2032, while the current roadmap targets key post-quantum components for the protocol’s “L” or “M” fork, roughly around 2029. The presentation ’s core argument was that post-quantum security cannot be reduced to a simple signature swap. Ethereum today relies on elliptic-curve cryptography across the stack: validator attestations at the consensus layer, blob proof data at the data layer, and transaction and wallet signatures at the execution layer. If that cryptography is broken, large parts of the network’s security model break with it. But replacing it introduces a second-order problem. Ethereum’s current BLS signatures are compact and aggregate extremely efficiently: 10,000 signatures still compress to 96 bytes. The proposed post-quantum replacement, a hash-based scheme Corcoran called Lean Sig, is around 3,000 bytes per signature, and naively aggregating them would produce roughly 30 megabytes of data per slot. That tradeoff is not merely an engineering inconvenience. Corcoran repeatedly tied it back to Ethereum’s decentralization constraint, arguing that bigger signatures would raise bandwidth requirements, reduce the number of viable home validators, and weaken the chain’s security properties. In his telling, the entire design challenge is downstream from that point. “So making Ethereum post quantum secure isn’t just as simple as swapping out the signature schemes because that one change cascades through everything else,” he said. “Bigger signatures would result in more bandwidth that would result in fewer home validators, less decentralization, and weaker security guarantees. So that one change cascades through everything.” Ethereum’s proposed answer is a pairing of LeanSig with a proving system called Lean Multisig, which Corcoran described as a STARK-based aggregation engine. Instead of forwarding all of the signatures directly, the system aims to prove that they were verified correctly and compress the output to around 125 kilobytes. He called that roughly 250x compression “the moon math” that makes post-quantum consensus viable on Ethereum. Corcoran also used the talk to stress that this is no longer a purely theoretical research thread. He said Ethereum is already running devnets with 10 client teams, has shipped four devnets so far, and is building around three-slot finality and four-second slots as a design basis. The broader effort , he added, spans more than eight years of research, about $25 million in funding, and roughly 1,500 contributors across more than 250 organizations and teams. For Ethereum, the immediate message is that post-quantum readiness is becoming a visible part of its long-range protocol agenda. For the rest of crypto, Corcoran’s claim was broader. “Really, every proof of stake blockchain faces the same challenge, and that challenge is the ability to aggregate at scale hash based signatures. It’s nonnegotiable,” he said. “When we succeed in shipping LeanSig and LeanMultisig and Lean consensus, we think that this could really become the de facto industry standard.” At press time, ETH traded at $2,154.

24 Mar 2026, 11:05

Global XRP Accumulation Is Happening. Here’s the Latest

A quiet shift is unfolding in the XRP market, and it is not immediately visible in price charts. While many retail participants focus on short-term fluctuations, deeper market signals suggest that a more strategic phase is already underway. Beneath the surface, capital appears to be rotating with precision, hinting at a buildup that could define XRP’s next major move. According to crypto analyst John Squire, recent data reveals a pattern of XRP accumulation occurring across multiple regions. His analysis, supported by visual mapping and blockchain data, points to a coordinated effort by large players who are steadily increasing their exposure without drawing excessive attention. Whale Accumulation Accelerates in March On-chain metrics show that large XRP holders significantly increased their positions in early March 2026. Whale wallets collectively acquired approximately 110 million XRP, valued at around $152 million, within a short timeframe. These entities typically operate with long-term strategies, and their behavior often reflects calculated positioning rather than reactive trading. GLOBAL XRP ACCUMULATION IS HAPPENING The world is quietly loading up on $XRP right now. You can see it across the map. This isn’t hype… it’s movement. Smart money is positioning. Are you watching or missing it? pic.twitter.com/SbDbupBKWp — John Squire (@TheCryptoSquire) March 23, 2026 This level of accumulation carries weight because it signals confidence from capital-heavy participants. Whales tend to accumulate during periods of low volatility, where they can enter positions efficiently without causing major price disruptions. Global Activity Signals Expanding Interest The accumulation trend is not limited to a single region. Data indicate that buying activity spans multiple regions, reinforcing XRP’s growing relevance in global financial discussions. This geographic dispersion suggests that interest in XRP extends beyond speculative trading and increasingly aligns with its utility in cross-border transactions . As financial institutions continue to explore blockchain-based solutions, XRP remains positioned as a viable asset for liquidity and settlement. This broader adoption narrative adds another layer of significance to the current accumulation trend. We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 Price Structure Supports Accumulation Thesis XRP’s recent price behavior aligns with classic accumulation patterns. The asset continues to form higher lows, indicating sustained demand even as it faces resistance levels. Buyers consistently step in during dips, absorbing sell pressure and stabilizing the market. This controlled price action often reflects a transfer of tokens from short-term traders to long-term holders. Instead of sharp upward spikes, the market shows measured consolidation, which typically precedes stronger directional moves. A Strategic Phase, Not Market Noise The current XRP landscape reflects intention rather than randomness. Whale accumulation , global participation, and steady price structure all point to a market in preparation mode. While no indicator guarantees future performance, the alignment of these factors suggests that XRP may be entering a critical phase. Market participants now face a clear choice: observe the shift from the sidelines or recognize the signals early and act with informed conviction. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Global XRP Accumulation Is Happening. Here’s the Latest appeared first on Times Tabloid .

24 Mar 2026, 10:59

Mochi Finance founder Azeem Ahmed sells 550,000 CVX from $54M rug pull proceeds as fraud allegations span four DeFi projects

Azeem Ahmed, the founder of Mochi Finance and its USDM stablecoin, and a figure linked to fraud allegations across at least four decentralized finance projects since 2020, sold approximately 550,285 CVX tokens on March 19, 2026 through a wallet that blockchain analysts have publicly associated with the Mochi protocol since the November 2021 Curve Finance pool drain that triggered one of only a handful of emergency DAO interventions in Curve’s history. The sale, executed at an average price of $1.72 per token, netted approximately $946,000 and caused the CVX price to drop more than 10%, from $1.88 to $1.68, according to on-chain data reviewed by Crypto Daily. The proceeds were routed to a multisig wallet associated with the Mochi protocol, which held approximately $864,858 in total assets as of the evening of March 19, according to portfolio tracker DeBank. An additional 500,000 CVX remain in a locked position on Convex Finance. A hardcoded oracle, 10 billion worthless tokens, and a $46 million Curve pool drain The CVX tokens at the center of the dispute trace back to November 11, 2021. According to blockchain records and certified crypto trace reports prepared by forensics firm IFW Global, a wallet associated with Mochi Finance swapped 10 billion MOCHI tokens, the protocol’s governance token, which had been assigned a hardcoded price in the protocol’s oracle system regardless of its near-zero market value, for approximately 46 million USDM, the Mochi stablecoin. The USDM was immediately swapped for 46,004,689.94 DAI through the Curve USDM/3CRV pool, effectively draining it of real stablecoin liquidity. Liquidity providers who had deposited DAI, USDC, and USDT found their holdings replaced with USDM that subsequently lost its peg. The DAI was then converted through ZeroEx and SushiSwap into approximately 9,876 ETH and used to purchase 1,050,285 CVX tokens, which were locked on Convex Finance. The Curve Finance Emergency DAO responded by killing the USDM rewards gauge. CoinDesk covered the incident under the headline “Curve Wars Heat Up: Emergency DAO Invoked After ‘Clear Governance Attack.’” Yearn Finance founder Andre Cronje stated publicly that Mochi had become 65% undercollateralized. When Crypto Briefing asked Ahmed for comment at the time, he described his actions as a “bold approach to gaining voting power in the DAO” and characterized himself as “a small player on the outskirts” whom the “DeFi Cartel” felt threatened by. IFW Global’s certified reports document individual investor losses of $4.87 million and $3.35 million respectively. Both investors filed sworn affidavits. Aggregate losses across all affected liquidity providers are estimated at over $54 million. Dedaub audit flagged the exact vulnerability five months before the exploit Before Mochi Finance launched, Ahmed commissioned a smart contract audit from Dedaub, a blockchain security firm. The June 2021 report identified two critical and five high-severity vulnerabilities in the protocol’s code. One of the high-severity findings, labeled H5, flagged that sensitive functions in the OracleRouter.sol contract lacked access controls. The finding was marked “Open,” meaning it had not been resolved at the time the report was issued. The OracleRouter is the component responsible for determining what tokens can serve as collateral and at what price, the same mechanism that investors allege was exploited five months later to assign an artificial value to the MOCHI token and mint $46 million in unbacked stablecoins. Four years of extraction: escalating fees, diverted rewards, and drained liquidity pools Following the Curve pool drain, Ahmed did not disappear. He rebranded through a new entity called GaiaDAO and introduced the “Peg Rebalancing Module” (PBM), which was marketed as a mechanism to distribute CVX staking rewards to USDM holders and gradually restore the stablecoin’s peg. The PBM carried a 2% management fee and a 20% performance fee, both payable to Ahmed. According to a Curve governance forum thread titled “How to Help USDM — Mochi ‘Slow Rug’ Victims,” Ahmed subsequently raised the performance fee to 50% without prior notice, reverting to 20% only after community objections. The thread documented the frustrations of users who found themselves paying the person who had drained them for the privilege of partial restitution. By November 2025, even that arrangement ended. On-chain records show that all staking reward distributions from the 1,050,285 vlCVX position ceased entirely. Transaction data indicates the rewards were instead routed to a wallet that also serves as a signer on the multisig holding the CVX — a wallet multiple blockchain analysts identify as Ahmed’s personal address. The estimated value of diverted staking rewards exceeds $1.6 million. Separately, approximately 2,198 ETH, worth roughly $6.67 million at the time, and $471,429 in USDC were allegedly taken from Mochi/ETH liquidity pools and never returned to depositors. Airdrop allocations from protocols including Prisma, CNC, VELO, LFT, and YB were also reportedly never distributed to token holders. GaiaDAO’s reward claim functions have been non-functional since December 2023. A pattern of ventures: $SAFE, Armor.fi, Mochi, and GaiaDAO Public records and statements from former associates indicate the Mochi incident is not the first time Ahmed has faced allegations of fund misappropriation in the decentralized finance sector. The pattern spans at least four projects since 2020. Ahmed’s earliest documented involvement was with Yieldfarming.insure ($SAFE). A 2020 Decrypt article profiled Ahmed as a DeFi investor who advised being “greedy in private.” Former participants have alleged he leveraged insider access to front-run staking rewards and extract value from Balancer pools. Ahmed subsequently co-founded Armor.fi, a DeFi insurance protocol built on Nexus Mutual cover contracts, with Robert Forster and Corey Jackson. In November 2021, Forster took to X (formerly Twitter) and publicly accused Ahmed of stealing “millions in LP tokens” from the project and seizing control of its social channels. “I was mass mass liquidated and he got control of the socials and channels,” Forster wrote in a thread that detailed what he described as a pattern of deception and fund misappropriation. GaiaDAO, the entity Ahmed created ostensibly to compensate USDM holders through the PBM, has itself become a vehicle for further alleged extraction, as detailed above. Prior litigation: Chen v. Ahmed and the forced settlement Ahmed’s involvement in prior legal proceedings provides additional context. In February 2021, an Armor.fi protocol user named David Chen filed a lawsuit in San Francisco Superior Court (Case No. CGC-21-589609) alleging Ahmed attempted to misappropriate $1.6 million related to a Nexus Mutual insurance payout of 1,000 ETH. Court records show Chen’s attorney, Ryan Abbott of Brown, Neri, Smith & Khan LLP, moved rapidly: demand letter on February 7, complaint filed on February 12, and an application for a temporary restraining order on February 17. The TRO sought to freeze 1,000 ETH and prevent Ahmed from transferring, exchanging, or reducing the accessibility of the tokens. After losing at a preliminary hearing, Ahmed’s side was forced into an out-of-court settlement. Terms were not disclosed. Within months, Ahmed launched Mochi Finance. The March 19 sell-off and wallet forensics The CVX sell-off on March 19 was first flagged by blockchain watchers monitoring the Mochi-linked wallets. Ahmed’s primary signer wallet (0xf6c40c4391d6570032d2eb7a9cd9935898c430cf) executed a series of transactions liquidating approximately 550,285 CVX tokens. The proceeds, denominated in DAI, were transferred to the Mochi protocol multisig (0x597f540bb63381ffa267027d2d479984825057a8). The remaining 500,000 CVX tokens are in a locked position on Convex Finance. Community members tracking the wallets have expressed concern that Ahmed may attempt to sell the locked tokens through intermediary wallets upon unlock — selling first, buying back through fresh wallets, and re-locking to break the chain of on-chain evidence. The sell-off represents the most overt action Ahmed has taken since the original November 2021 drain. For years, the debate in the DeFi community was whether Mochi constituted a governance attack gone wrong or a deliberate theft. The decision to sell the tokens, rather than return them, redistribute them, or burn them, is being interpreted by affected investors as the definitive answer to that question. Ahmed’s current status and silence Court filings describe Ahmed as a UK citizen. His social media accounts have been inactive for months. The Mochi Finance and GaiaDAO websites remain online but have not been updated. The project’s Discord is largely abandoned. He has not publicly responded to Robert Forster’s accusations, the IFW Global investigation findings, the Curve governance forum discussions about his conduct. What the on-chain record documents is a developer who has been involved in at least four DeFi projects — $SAFE, Armor.fi, Mochi Finance, and GaiaDAO — each of which ended with allegations of fund misappropriation. In one case, he was sued and forced into a settlement. In another, his own co-founder accused him of theft on social media. In the largest, $46 million was drained from a Curve pool and the proceeds are now, four and a half years later, being sold. As of publication, 500,000 CVX tokens remain in the wallet Ahmed controls. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.