SoSo Daily Feb 28 | Suji Yan, the founder of Mask Network, is suspected to have been the victim of a hacking attack on his account.

After reviewing the overall crypto market situation, let's shift our focus to the top 5 token gainers of the day:
As of 12:00 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is Neiro on ETH. As of 23:50 today, its market cap is 64.65K, with a coin price of 0.000064651 USD, witnessing a 24-hour increase of 432%.
The second is Plian. As of 23:50 today, its coin price is 0.00080700 USD, with a 24-hour increase of 112%.
The third is Raft. As of 23:50 today, its coin price is 0.00066200 USD, showing a 24-hour increase of 84.7%.
In fourth place is Clover Finance. As of 23:50 today, its coin price is 0.043700 USD, with a 24-hour rise of 61.1%.
In fifth place is Exeedme. As of 23:50 today, its coin price is 0.034380 USD, increasing by 50.5% over the last 24 hours.




Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:

According to Wu's report, it has been observed by Cyvers Alerts that the account of Mask Network founder Suji Yan has allegedly been hacked and involved in suspicious transactions. A dubious address received nearly 4 million dollars worth of digital assets, including 113 $ETH, 923 WETH, 301 ezETH, 156 weETH, 90 pufETH, 48.40 thousand MASK, 50 thousand USDT, and 15 swETH. The stolen assets were immediately exchanged for $ETH and dispersed to six different addresses.

Next news:The U.S. Securities and Exchange Commission (SEC) has decided to drop its case against Coinbase, marking a significant shift in the agency's approach to cryptocurrency regulation. This decision reflects a broader change in the SEC's stance towards digital assets, potentially signaling a more favorable regulatory environment for the crypto industry. Coinbase CEO Brian Armstrong, who has been a vocal advocate for clearer regulations, may see this as a positive development for the company's operations and the industry at large.
Next news:Consensys and the U.S. Securities and Exchange Commission (SEC) have agreed in principle to end the case against MetaMask. Consensys founder Joseph Lubin announced that the SEC will submit an agreement to close this case. In June last year, the SEC accused Consensys of violating the law through its MetaMask staking service and filed a lawsuit in the U.S. District Court for the Eastern District of New York. The resolution of this case reflects a shift in the U.S. government's attitude towards the digital asset industry since President Trump took office. In April 2024, Consensys had sued the SEC over classifying Ethereum as a security, but this was dismissed in September.
Next news:California Democratic Congressman Sam Liccardo has proposed a bill aimed at prohibiting the President, members of Congress, and their families from issuing or sponsoring cryptocurrencies and securities, such as memecoins. The bill is titled the Modern Bribery and Misconduct Enforcement Act (MEME Act) and requires President Trump to return the profits from the sale of his family's memecoins. Trump and Melania launched the official memecoin just before his inauguration, but its value has significantly declined. Critics argue that the Trump family profits through the decentralized finance protocol World Liberty Financial without providing direct benefits to token holders. Liccardo's bill has sparked calls to ban politicians from trading stocks, although the likelihood of the bill passing in the Republican-controlled Congress is low.
Next news:The U.S. Securities and Exchange Commission (SEC) stated that memecoins do not qualify as securities, but there are still fraud risks associated with them. The SEC's Division of Corporation Finance pointed out that memecoins do not meet the definition of securities because they do not generate revenue or convey rights to future income, profits, or assets, and therefore are not subject to federal securities laws. However, the SEC warned that if projects falsely use the memecoin label to disguise securities, they will be evaluated based on the economic reality of the project. Additionally, fraudulent activities related to memecoins may face legal actions from other federal or state agencies. Following Gary Gensler's departure, the SEC has taken a more favorable stance towards cryptocurrencies and has withdrawn cases against companies such as Coinbase and Gemini. Meanwhile, Congressman Sam Liccardo has introduced a bill prohibiting the President, members of Congress, and their families from issuing or sponsoring securities and cryptocurrencies.
Next news:The cryptocurrency exchange BitMEX is seeking buyers and has hired the independent investment bank Broadhaven Capital Partners to assist with the sale. Previously, BitMEX was fined $100 million by a federal judge for violating the Bank Secrecy Act, which requires companies to report suspicious financial activities to prevent money laundering. BitMEX admitted to violating this law in July 2024. In 2025, another cryptocurrency derivatives exchange, Deribit, is also looking for buyers. The spot market trading volume of BitMEX in January 2024 was $15.12 million.
Next news:

The number of initial claims for unemployment benefits in the United States for the week ending February 22 was 242 thousand, higher than the market expectation of 221 thousand. The data for the previous week was revised from 219 thousand to 220 thousand.

Next news:Pakistan plans to establish a committee to oversee the formulation and implementation of cryptocurrency policies. This move aims to better manage and regulate the cryptocurrency market, ensuring its safety and legality.
Next news:According to Reuters, U.S. President Trump announced that a plan to impose a 25% tariff on goods from Mexico and Canada will take effect on March 4, and he threatened to impose an additional 10% tariff on Chinese goods, which will be in addition to the 10% tariff already imposed on Chinese goods on February 4. Trump's statement clarified the confusion he caused on Wednesday regarding the deadline for punitive tariffs on Canadian and Mexican goods. The April deadline is related to "reciprocal tariffs," which match the import tariffs of other countries and offset their other restrictions.
Next news:

According to reports from Wu and monitoring by EmberCN, in a recent theft incident involving Bybit, hackers laundered stolen $ETH by exchanging it for $BTC through THORChain, resulting in a massive increase in transaction volume and fees for THORChain. Data shows that the average daily transaction volume of THORChain was about 80 million USD before the laundering, which surged to 2.91 billion USD within 5 days starting from February 22, with an average daily volume of 580 million USD, generating a total of 3 million USD in fee revenue. This move also pushed the price of THORChain's token RUNE up.

Okay that's all for today. Thank you for tuning in, and we hope you found it helpful. Visit sosovalue.com, our one-stop financial research platform for crypto investors, to stay abreast of the latest market trends and key information. Until next time, goodbye.