Crypto Exchange CoinDCX Offers $11M Bounty to Recover $44M Hacker Loss

Crypto Weekly Recap: Strategy Buys $740M Bitcoin, Trump Media Puts $2B in BTC, CoinDCX Launches $11M Bounty

This week’s crypto headlines featured mega Bitcoin purchases by Strategy and Trump Media, a high-stakes bounty from CoinDCX, and India beefing up crypto tax compliance. Read on for a breakdown of the most newsworthy developments.

 Strategy Stacks Loads More Bitcoin

• Strategy bought 6,220 BTC for roughly $740 million between July 14–20, at an average price of $118,940 per coin.

• That raises their Bitcoin holdings to 607,770 BTC—a remarkable accumulation strategy.

• The company also expanded its STRC preferred stock offering from $500 million to $2 billion, signaling strong investor demand in the crypto-backed securities space.

 Trump Media Turns to Bitcoin Treasury

• The company purchased $2 billion in Bitcoin and related assets as part of its corporate treasury strategy.

• With $3 billion in liquid assets total, BTC now represents the majority of its reserves—a bold move aligned with modern corporate crypto adoption trends.

 CoinDCX Offers $11M Reward to Recover Stolen Crypto

• India’s largest crypto exchange, CoinDCX, is offering up to 25% of recovered funds—capped at $11 million—to anyone who helps trace the $44 million stolen in last Friday’s cyberattack.

• The baited bounty is aimed at recovering assets while sending a message that hatched hacks won’t go unpunished.

 Ark Invest Sells Nearly $90M of Coinbase Stock

• Cathie Wood’s firm sold 218,986 shares of Coinbase, worth about $90.6 million, across ARKK, ARKW, and ARKF ETFs—all in the same trading day.

• The move reflects shifting allocations within Ark’s crypto exposure strategy.

 Telegram Debuts U.S. Crypto Wallet via MoonPay

• U.S. users can now access a noncustodial crypto wallet service inside Telegram via its partnership with MoonPay.

• The in-app wallet enables users to send and manage digital assets directly—step one toward mainstream crypto utility.

 FTX Sets September 30 for Next Creditor Payout

• The bankrupt exchange will begin its next creditor distribution on September 30, with August 15 as the official record date.

• Court approval enabled lowering the claims reserve from $6.5B to $4.3B—freeing up $1.9B for payouts to creditors soon.

 India Cracks Down on Crypto Tax Evasion

• India’s tax authorities are implementing AI-driven analytics and global data-sharing to track undeclared crypto transactions.

• The crackdown spells trouble for tax avoidance schemes that rely on traditional financial opacity.

 JPMorgan Blocks Gemini Account Opening After Criticism

• Tyler Winklevoss claims JPMorgan paused Gemini account onboarding after he publicly criticized the bank’s fintech fee models.

• The conflict stems from remarks about CEO Jamie Dimon and Bloomberg’s coverage of bank fees for fintech integrations.

 U.S. Prosecutors Eye Charges Against Dragonfly Capital Executives

• Federal authorities are exploring charges against Dragonfly Capital founder Tom Schmidt and associates for their funding links to Tornado Cash during Roman Storm’s criminal trial.

• The probe illuminates growing scrutiny over blockchain-related financing and developer support.

 What It Means: Key Takeaways

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