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A British criminal planned to steal 2.7 million dollars in cryptocurrency while in prison and was sentenced to 8 years

According to The Block, the High Court of Scotland sentenced Robert Barr to eight years in prison for remotely orchestrating a theft of approximately £2 million (about $2.7 million) in cryptocurrency while serving his sentence in Edinburgh prison. Two accomplices, Iain Doyle and Sean Favier, received sentences of five years and four years, respectively; all three had previously pleaded guilty to involvement in organized serious crime.The court revealed the method of operation: Barr had his accomplices enter the victim's home and asked the homeowner to download the remote control software AnyDesk, which he then used from prison to control the couple's computer, inputting a receiving address he controlled to transfer funds from the victim's wallet. On the evening of April 17, 2024, around 11:30 PM, Favier and Doyle arrived at the couple's residence but were captured on the doorbell camera; the homeowner refused to open the door, and the two were unable to enter, resulting in a failed plan.Judge Lord Cubie described this as "a crime that combines 21st-century computer technology with old-fashioned burglary." On June 25, 2024, police seized Barr's mobile phone and discovered detailed messages directing his two accomplices; the judge noted that Barr had previously served 21 months for cryptocurrency-related fraud but organized crime again while in prison, which constituted "significant aggravating circumstances." If convicted at trial, he should have received a sentence of eight years and ten months. Barr is scheduled to attend a serious crime prevention order hearing on November 17.

Binance Research: The cryptocurrency market lacks an actively managed discovery layer, with neutral strategies siphoning off over 90% of the funds

Binance Research's latest report indicates that while institutional funds have significantly entered the cryptocurrency market, they are primarily flowing into passive Beta products (such as ETFs), and the actively managed sector has not kept pace.The core reason is not a lack of talent or returns, but rather the absence of a middle layer that connects funds with managers for discovery and verification. Currently, the funding sources for active cryptocurrency strategies still heavily rely on personal networks and conferences, lacking a standardized performance verification and benchmarking system.Research shows that 80% of asset allocators prioritize asset safety over historical returns, and verified trading platform data can significantly enhance due diligence. Managers believe that unverifiable performance and lengthy compliance reviews are the biggest obstacles to fundraising.Capital Connect data shows that directional strategies account for 44.3% of the total number of funds but hold only 6.7% of the capital; market-neutral, statistical arbitrage, and traditional multi-strategy funds make up less than half but attract 92.1% of the capital. The average single investment size from institutions in neutral strategies is about 11 times that of directional strategies.In October, BTC fell by 7.2%, with directional funds averaging a positive return of 1.9%, while neutral strategies recorded 1.0%. Binance Research concludes that institutional preferences and the introduction of traditional structures are driving the market towards maturity, but allocators remain highly selective. Only a comprehensive verification system and operational infrastructure can truly unlock the inflow of actively managed funds.

first_img Scottish man plans $2.7 million cryptocurrency theft in prison, sentenced to 8 years

The Scottish High Court sentenced 29-year-old Robert Barr to 8 years in prison for allegedly planning to steal cryptocurrency while in prison, with the amount involved reaching up to £2 million (approximately $2.7 million). Co-defendants Sean Favier (26) and Iain Doyle (37) both admitted to participating in serious organized crime, receiving sentences of 4 years and 5 years, respectively. Judge Lord Cubie stated that this case combines 21st-century computer technology with old-fashioned burglary.According to court disclosures, Barr's plan was to have Favier and Doyle enter a residence near Midlothian, Edinburgh, and force the victim to install remote control software AnyDesk on their computer, allowing Barr, who was serving a 21-month fraud sentence at HMP Edinburgh at the time, to remotely control the computer and transfer cryptocurrency into a wallet under his control. Around 11:30 PM on April 17, 2024, the two arrived at the residence, but the homeowner couple discovered them through the doorbell camera and refused to open the door, causing the plan to fail.Investigators recovered months of preparations from Barr's phone, which was seized in June 2024, including identifying the victim, collecting photos of the house, and conducting reconnaissance. The phone messages explicitly mentioned threats or violence. The victim is a co-founder of a cryptocurrency startup, whose accomplices had previously stolen a cryptocurrency wallet in January 2024 but were unable to access the funds due to a lack of a PIN code. Prosecutors described Barr as a "seasoned cybercriminal." The judge will consider issuing a serious crime prevention order against him on November 17, and Barr is currently detained due to potential extradition matters. According to a report by Chainalysis, the amount stolen in such "ransom attacks" exceeded $30 million in the first half of 2026.

Huobi HTX Chief Analyst Cloud: The leverage liquidation in the cryptocurrency market has been relatively sufficient, and the short-term space for further decline is limited

In October, the U.S. CPI exceeded expectations. After the data was released, BTC briefly fell to around $73,000, and the market began to bet on a 50 basis point rate hike in December. In response, Cloud, the chief analyst at Huobi HTX, believes that the probability of a 50 basis point hike is low, and a 25 basis point increase remains the baseline scenario. The current decline is more akin to a pricing correction.There are three reasons: The Federal Reserve values the continuity of data, and historically, there are very few cases where a single month's CPI jump has changed the pace of rate hikes; a single month of exceeding expectations is insufficient to overturn the gradual path; the current inflation stickiness mainly stems from the lagged transmission of tariffs and rents, which will naturally diminish, and marginal employment is also weakening. The committee has no reason to impose aggressive tightening at the peak of transmission; the credit spread has widened from 93 basis points to 348 basis points, financial conditions have effectively tightened, and adding another 50 basis points would actively create financial stability risks.In the crypto market, funding rates have turned negative, and the open interest in perpetual contracts has decreased by nearly 20% in a week. The fear and greed index has fallen into the deep fear zone, and the clearing of leverage has been relatively sufficient, limiting the space for further short-term declines. However, an oversold situation does not mean an immediate rebound; confirmation is needed for CPI to fall in the next two months. If inflation exceeds expectations for two consecutive months and a 50 basis point hike is realized, a trend decline will begin, but currently, this scenario seems unlikely.Note: The content of this article does not constitute investment advice, nor does it constitute any offer, solicitation, or recommendation of investment products.

first_img The cryptocurrency platform Walt has launched an independent trading application, separating from Telegram

The crypto platform Walt announced the launch of an independent application, expanding its business beyond Telegram after operating as Wallet in Telegram for nearly five years. Walt was renamed from Wallet in Telegram on September 28, stating that the product has exceeded the initial wallet functionality. The new application provides users with an independent entry for trading and investing, while the original Telegram product can still be accessed using the same account. Existing users can log in with their Telegram accounts, and new users can register via Telegram, Google, or Apple.According to its official website, Walt offers over 200 cryptocurrencies, more than 100 tokenized U.S. stocks and ETFs, as well as perpetual contracts linked to cryptocurrencies, metals, and energy, and provides yield products on assets such as stablecoins, Gram, Solana, Ethereum, and Tron. Walt users can transfer cryptocurrencies to other Telegram users for free; on-chain transfers to external wallets require payment of standard blockchain network fees and service charges, for example, sending any amount of USDT on the TON network requires a fee of 1 USDT.Walt CEO Andrew Rogozov stated that Walt initially started as a simple bot for purchasing cryptocurrencies, but has now evolved into a complete investment platform used by tens of millions, having previously built crypto products within Telegram and now opening up to everyone. Prior to the release of this independent application, Walt launched AI-assisted perpetual contract trading through Mira, ChatGPT, and Claude on October 20, which can read real-time perpetual contract prices, analyze positions and risk exposure, and open and close positions. Order execution is set to default to closed, and the agents cannot withdraw or transfer funds.
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