Financial impact
By Amount
Reports
Bybit Background Check Report
Bybit is a major offshore crypto exchange founded in 2018, now headquartered in Dubai. It has meaningful scale, broad derivatives liquidity, and a VARA VASP license in Dubai, but its profile also includes regulatory exits and warnings, opaque ownership, a grey-zone policy for mainland Chinese users, a major FTX/Mirana settlement, and the largest crypto-exchange hack on record in February 2025. The overall risk score is 6/10.
Entity: Bybit
AEX Founder Huang Tianwei Was Arrested in Thailand. His Old Users Are Still Waiting for Their Money.
Huang Tianwei, founder of Bit Times and AEX, was once known in Chinese crypto circles as “South Huang” and as a founder who had previously covered user losses after a 2014 XRP incident. In 2022, AEX froze withdrawals and disclosed a roughly $1.28B asset book with limited near-term liquidity, while later offering AUSD and future equity-style repayment plans. In 2025, Thai police arrested Huang at Bangkok’s Don Mueang airport over an alleged BTC investment fraud involving two Chinese victims and 200 million baht.
Entity: Huang Tianwei
$LAB: A $1B Market Cap, $3.88M in Liquidity, and a Dubai Founder Posting Philosophy While Wallets Move
On-chain investigators ZachXBT and SpecterAnalyst publicly accused $LAB, the token linked to LABtrade and founder Vova Sadkov, of coordinated market manipulation involving centralized exchanges including Bitget. The allegations focus on large LAB deposits to Bitget before the pump, pre-funded gas distributions to new wallets, a low-float token structure, and the lack of a detailed public rebuttal from LABtrade as of May 7, 2026.
Entity: LAB Token
Justin Sun Accuses WLFI of Secret Blacklisting Power, Raising New Questions About “Decentralization”
Justin Sun publicly accused World Liberty Financial (WLFI) of embedding a blacklist function that could freeze token holders without notice. WLFI rejected the accusation and challenged him to take the matter to court. The dispute has renewed scrutiny over how much control supposedly decentralized crypto projects still retain over users’ assets.
Entity: Justin Sun
CoinW Background Check: A Large Exchange With Small-Exchange Governance
CoinW is still operating and reports large spot and derivatives volume, but the exchange faces serious governance, licensing, transparency, user-complaint, security, and regulatory risks. Key issues include Taiwan criminal indictments involving people described as CoinW regional executives, South Korean app-store restrictions, unclear or misleading license claims, and the absence of a full Merkle-tree proof-of-reserves framework.
Entity: CoinW
Bitget Background Check: Licenses, Regulatory Warnings, and VOXEL Risk
Bitget is a major second-tier global crypto exchange founded in 2018. It operates normally, publishes Proof of Reserves, and reports large derivatives volumes, but its regulatory depth remains weaker than its business footprint. Multiple regulators have warned that Bitget or related entities were not registered for certain activities, and the April 2025 VOXEL incident exposed risk-control weaknesses. Overall risk score: 5/10.
Entity: Bitget
TrustedVolumes $6.7M Exploit: 1inch Resolver Hit Again
On May 7, 2026, DeFi market maker and 1inch Fusion Resolver TrustedVolumes reported an exploit of about $6.7 million. Security firms linked the attacker to the March 2025 1inch Fusion V1 resolver exploit, in which TrustedVolumes was also the main victim. The new incident reportedly involved TrustedVolumes' custom RFQ swap proxy contract, old ERC-20 approvals, and an improperly exposed Allowed Order Signer mechanism.
Entity: 1inch