Ether Strategy, a project positioning itself as an onchain MicroStrategy for Ethereum, encountered a significant mishap when 165 Ether, valued at approximately $414,000, was accidentally sent to an incorrect wallet due to a user interface error. This occurred during the project’s testing phase before its official launch. The team quickly addressed the issue by transferring the same amount into the correct deposit contract, ensuring affected users faced no losses. Despite this resolution, Ether Strategy announced it would not proceed with its launch, citing insufficient interest to support the DAO in its current form. The project initially received precommitments of over 40,000 Ether, far surpassing their 10,000 Ether target, but will now reassess future strategies.
Meanwhile, in El Salvador, a new statue paying tribute to Bitcoin’s creator, Satoshi Nakamoto, was unveiled. This artistic piece, crafted by Valentina Picozzi, shares a unique design that gives the illusion of disappearance when viewed from certain angles. The artwork features a faceless figure with a laptop and symbolizes Nakamoto’s elusive presence, existing only in the Bitcoin code. It honors developers worldwide who contributed to the decentralized payment system of Bitcoin.
In other news, the Australian Federal Police (AFP) issued warnings about a Philippines-based cryptocurrency romance scam that targeted over 5,000 Australian phone numbers. The operation was dismantled following a raid that led to the arrest of 250 individuals and the confiscation of various electronic equipment. The scam involved perpetrators posing as potential romantic partners to deceive victims into investing in cryptocurrencies and transferring funds into scammers’ accounts.
Additionally, Japan is set to finalize its review of cryptocurrency tax laws by June, according to Finance Minister Katsunobu Kato. The Financial Services Agency is leading this evaluation, as Japan considers legal adjustments aligning with the 2025 Tax Reform Outline. The current tax system requires reporting crypto trading profits, a framework some criticize for stifling Japan’s crypto market growth.
