Today's Top Crypto Headlines:

$25M Bitcoin Loss | Crypto Kidnap Mastermind | Binance Vs. Bots and more...

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King Fatrick Gil Añasco
June 06, 2025

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Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

  1. Trader Loses $25M on Hyperliquid: High-leverage trader James Wynn lost nearly $25M after a 240 BTC position was liquidated on Hyperliquid.

  2. Crypto Kidnapper Arrested: Moroccan police arrested Badiss Bajjou, mastermind behind several crypto-related kidnappings in France, including an attempt on Paymium’s CEO’s family.

  3. 💡Feature of the Day - Binance Cracks Down on Bots: Binance detected bot abuse in its Alpha Points program and is now restricting offenders.


    All this and more in today’s headlines!

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📰 News Highlights:

$25M Bitcoin Loss [Source][Source][Source][Source]

James Wynn, a well-known high-leverage crypto trader on Hyperliquid, lost nearly $25 million after a 240 BTC position was liquidated.

He had manually closed parts of the trade to reduce his liquidation price but was still wiped out.

Despite holding 770 BTC worth over $80 million, Wynn claimed the market was manipulated against him and solicited donations to "expose" the manipulation.

This incident followed a string of aggressive trades, including a $1.25B long and a subsequent $110M short position, which led to nearly $100M in total losses in one week.

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Crypto Kidnap Mastermind [Source][Source][Source][Source]

Moroccan authorities arrested Badiss Mohamed Amide Bajjou, a 24-year-old French-Moroccan man accused of leading a wave of crypto-related kidnappings in France.

The arrest came at the request of French authorities and followed an Interpol red notice issued in 2023.

Bajjou was found with multiple weapons and phones, suggesting a coordinated criminal operation.

French Justice Minister Gérald Darmanin praised Morocco’s cooperation in fighting organized crypto crime.

💡 Feature of the Day: 

Binance Fights Bots [Source][Source][Source][Source]

Binance has detected bot farming activity in its Alpha Points early-access program and is now cracking down to maintain fairness.

On June 4, it announced upgrades to its risk control systems to identify and block bot-related behavior.

Offending accounts may lose Alpha eligibility and face further restrictions.

A Binance representative said the abnormal activity appeared to be non-human manipulation and warned users that such actions breach platform rules.

😂 Crypto Meme of the Day: 

Meme of the day provided by @cryptomemeelite

And that’s it for this today.

See you all tomorrow’s edition!


Jonathan Gibson
UseTheBitcoin.com