GM, this is The Crypto Explorer, Let's face it, trying to keep up with crypto is like catching a greased-up pig.

Let’s do the chasing for you! 😀

Here’s what we got for you today:

• 🤯 $794K SIM Swap Hacker Jailed!

• 📈 Bitcoin ETF Inflows Soar!

• 🧱 Around The Block: Token issuers in Japan are exempt from a 30% crypto tax on paper gains.

🤯 $794K SIM Swap Hacker Jailed!

The long arm of the Law finally got a grip on British hacker Joseph O'Connor, aka PlugwalkJoe.

The hacker has been sentenced to five years in a United States prison for his involvement in a SIM swap attack that resulted in the theft of $794,000 worth of cryptocurrency from an undisclosed crypto exchange executive in April 2019.

Want to know how he carried out the SIM swap attack, find out here.

In addition to the five-year prison term, O'Connor was also ordered to serve three years of supervised release and pay $794,012.64 in forfeiture.

And guess what?

O’Conner’s sentence covers other offences, such as:

• A major Twitter hack of July 2020, which ultimately fetched him and his crew around $120,000 worth of ill-gotten crypto gains.

• SIM-swapping attacks to hijack around 130 prominent Twitter accounts, along with two large accounts on TikTok and Snapchat.

• Blackmail.

There’s a lot more, you can see the full list here.

Despite O'Connor's crimes occurring about three years ago, SIM swap attacks remain a significant problem in the cryptocurrency sector.

Recently, a group of scammers identified by blockchain investigator ZachXBT targeted and SIM-swapped at least eight accounts belonging to well-known figures in the crypto industry, resulting in the theft of nearly $1 million through the promotion of phishing links from the compromised accounts.

It's clear that the crypto world needs a hero—a SIM swap attack avenger, if you will—to put an end to these SIM swap shenanigans, pronto!🦸‍♂️

 📈 Bitcoin ETF Inflows Soar!

The Bitcoin exchange-traded fund (ETF) market has become the latest hotspot for institutional investors.

Leading the pack is the ProShares Bitcoin Strategy ETF (BITO), which has witnessed a significant increase in inflows.

According to Bloomberg senior ETF analyst Eric Balchunas, BITO received its largest weekly inflow in a year, amounting to $65.3 million, pushing its total assets above $1 billion.

And it’s not just BITO experiencing this jump.📈

Deribit (a crypto options exchange) has noted a surge in open interest (OI) for Bitcoin futures since last week, reaching $319 million as of June 25, a 30% rise compared to the previous week.

Also, the Grayscale Bitcoin Trust (GBTC), which had been trading at a significant discount to spot BTC prices for months is now making progress.

According to Coinglass, the Grayscale premium, also known as its discount, is currently at -31.2%, improving from its low of -49% in December.

We bet they're dancing in the office like there's no tomorrow.💃

Aside from the increased capital inflows, a new wave of filings for a Spot Bitcoin ETF has emerged.

WisdomTree has filed for a spot Bitcoin ETF for the third time, and shortly after, Invesco renewed its application for a similar product.

ETF Store President Nate Geraci listed several ETF issuers to watch, expecting them to file or refile for a spot Bitcoin ETF based on their past filings. (See named issuers here).

But alas, the outcome of these filings remains uncertain as we eagerly await the SEC’s decision.

So, who will win the race for the coveted spot Bitcoin ETF approval?🤷

🧱 Around The Block: Token issuers in Japan are exempt from a 30% crypto tax on paper gains.

• 💃Tax Exemption: Token issuers in Japan are exempt from a 30% crypto tax on paper gains.

• ⚖️Crypto Regulation: Don’t follow the US: Blockchain Aus CEO hammers ‘regulation by enforcement’.

• 📈Bitcoin Price: Bitcoin trades above $30K, boosting traders’ interest in ETH, ARB, VET and STX.

• 🚨Travel Rule: Crypto Travel Rule implementation ‘remains relatively poor,’ says FATF.

That's all we've got for you today.

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In any case, see you tomorrow, or on Twitter, if you're there: @danielakpobare

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be NEW