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The Loudi Intermediate People's Court released a typical case of telecommunications network fraud and related crimes, in which it was revealed that criminals set up a fraud studio to lure victims into purchasing virtual currency on the exchange, and then recharge the virtual currency to the Hconex platform to defraud customers of their money. The fraud studio manipulated and modified the profit and loss of the virtual digital currency through the backend system, resulting in a complete loss of the victim's recharge amount and defrauding customers of their money. Since its establishment, it has defrauded victims of property equivalent to more than 1 million yuan. The court believes that all the individuals involved have committed fraud and have been sentenced to imprisonment ranging from seven years and six months to eleven years and six months, as well as fines. The illegal gains will be recovered in accordance with the law.

OKX - PENGU is currently priced at $0.01260, with a 24-hour increase of 13.46%. 24-hour transaction volume of 400 million US dollars, a decrease of 0.52%, for reference only

Odaily Planet Daily News: The Solana ecosystem lending agreement Loopscale, which was previously hacked, officially announced that it plans to resume withdrawals on May 9th at 10:00 AM Eastern Time (10:00 PM Beijing Time). Although the protocol update patch has been audited, there will still be restrictions on the 24-hour withdrawal amount for each user in the initial stage: SOL deposit users can withdraw up to 2500 SOL per 24 hours, USDC and USDG users can withdraw up to 500000 USDC/USDG per 24 hours, and jitoSOL users can withdraw up to 500 jitoSOL per 24 hours. Previously, Loopscale was hacked last month due to a security vulnerability, resulting in the theft of approximately 5.7 million USDC and 1200 SOL. After negotiations with the hackers, all the lost funds have been recovered.

According to Cointelegraph, USD1 has risen to the seventh largest stablecoin in the world, with a market value of $2.2 billion, according to Foresight News.

BlockBeats News: On May 8th, according to official sources, the TRON Nile testnet passed Committee Proposal No. 19794 at 11:40 on May 8th of the year. According to the proposal, the block reward for TRX will be reduced from the original 16 TRX to 11 TRX, and the voting reward will be reduced from 160 TRX to 128 TRX. This production reduction aims to accelerate the deflation process of TRX, further optimize the economic model, and ensure the long-term sustainable development of TRON network. The official emphasized that this adjustment is only limited to the Nile test network, and whether the main network will be implemented still requires community consensus. At present, the proposal to reduce the production of TRX on the main network has been open for discussion on GitHub, and community members can participate to jointly promote the governance decision-making process.