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Global authorities just delivered a major hit to the darknet drug trade. A sprawling law enforcement crackdown, dubbed Operation RapTor , zeroed in on illicit fentanyl and opioid sales across online black markets, leading to the arrest of 270 individuals worldwide. The coordinated sting also pulled in more than $200 million in cash and digital assets This massive undertaking stretched across four continents, with investigators working together in countries like the United States, the United Kingdom, Germany, Brazil, and South Korea. Officials announced they recovered over two metric tons of drugs, a haul that included a hefty 144 kilograms of fentanyl or fentanyl-laced substances, alongside some 180 firearms. The U.S. Department of Justice’s Joint Criminal Opioid and Darknet Enforcement (JCODE) team spearheaded this international initiative, teaming up closely with Europol and numerous law enforcement agencies throughout Europe, Asia, and South America. Officials are calling Operation RapTor the most successful JCODE effort yet, both in terms of the sheer amount of contraband seized and the number of suspects apprehended. A smart play in the operation involved using intelligence gathered from previous darknet marketplace shutdowns. Data from dismantled sites like Nemesis, Tor2Door, Bohemia, and Kingdom Markets gave authorities crucial leads, helping them identify and track down darknet vendors and their customers across the globe. Word of successful prosecutions tied to Operation RapTor is already coming in from multiple U.S. federal districts. Down in California, two men were handed stiff prison sentences of 17 and 15 years for peddling fentanyl-laced pills to over 1,000 people through darknet sites. The U.S. Attorney’s Office for the Southern District of New York also landed a key conviction, securing a guilty plea from Rui-Siang Lin. Lin was the operator of Incognito Market, a major darknet hub that, between 2020 and 2024, handled over $100 million in illicit drug sales. Related: Crypto Crackdown in South Korea: Upbit Suspended, Bithumb Investigated, Overseas Exchanges Face Action Over in Virginia, three darknet vendors got their due for pushing more than 13,000 drug shipments all over the U.S. They were caught distributing counterfeit Adderall which actually contained methamphetamine. When federal agents moved in, they seized $330,000 in cash, industrial pill press machines, and nearly 110,000 fake pills. In another significant case, Brian McDonald of California copped a 20-year sentence after admitting he used various darknet aliases to sling fentanyl and cocaine nationwide. Tragically, investigators linked at least one confirmed overdose death directly to his operation. The far-reaching success of Operation RapTor hinged on extensive cooperation between numerous agencies and international partners. In the U.S., crucial support came from the DEA, FBI, IRS-CI, HSI, USPIS, and the FDA OCI. On the international front, Europol and national police forces across ten countries were vital to the effort. Related: India’s Crypto Tax Crackdown vs. China’s Innovation Push—Is India Falling Behind? Adding another layer of pressure, the Office of Foreign Assets Control (OFAC) also slapped sanctions on Iranian national Behrouz Parsarad, identified as the operator of the Nemesis marketplace. Federal authorities reported that 26 different U.S. Attorneys’ Offices were involved in related prosecutions. They hailed Operation RapTor as a major leap forward in tackling sophisticated criminal outfits that try to hide their fentanyl and opioid sales under the veil of dark web anonymity. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Zhu Su crypto platform OX.FUN reaches cooperation with ORA, with an annualized mining yield of 2000% OX.FUN, the crypto trading platform of Zhu Su, the former co-founder of Three Arrows Capital, announced a strategic partnership with ORA and officially joined the ORA Web (3,3) smart network ecosystem. The OX/ORA dual-currency Axon has been officially launched, and LPs can receive ORA mining incentives by providing liquidity. Zhu Su posted on the X platform that due to ORA incentives, the current OX/ORA annualized rate of return (Apy) has reached 2000%. Driven by the news of the cooperation, ORA's intraday increase reached 13.3%, and is now at $0.76. At the same time, OX holders will receive ORA rewards in the future, further binding the ecosystem for common growth.

A certain Smart Money opened a 3x HYPE long position at $12.93, with a unrealized profit of over $13.41 million.

Alchemy acquires NFT launchpad HeyMint to expand its 'smart wallet' services

Decentralized finance protocol Hyperliquid submitted formal responses to the U.S. Commodity Futures Trading Commission’s recent requests for comment on perpetual futures and 24/7 trading. In a May 22 Medium post , the Hyper Foundation said it submitted two letters to CFTC to help shape emerging U.S. regulatory frameworks. The team described how Hyperliquid’s ( HYPE ) onchain system already manages trading 24/7 while upholding strong risk controls, user security, and openness. According to Hyperliquid, its platform lowers risk by utilizing pre-funded collateral and automatic liquidations. The system is more open and resilient than traditional markets because trading occurs continuously and all trades, margin adjustments, and liquidations are visible to the public onchain. Hyperliquid noted in its remarks on perpetual derivatives that these crypto-native products are already in use and provide advantages like improved liquidity, no rollover requirements, and simpler smart contract integration. Rather than trying to force new products into outdated categories, the team urged the CFTC to adopt a flexible regulatory approach that prioritizes risk and user safety. The CFTC’s request for comment, which closed on May 21, was aimed at understanding how these fast-growing crypto markets work and whether new rules are needed. No new regulations have been announced yet, but the agency may take action in the future. With almost 70% in monthly trading volume share among decentralized perpetuals platforms, Hyperliquid has emerged as a market leader. In May, the platform also reached all-time highs for USD Coin ( USDC ) total value locked at $3.2 billion, fees at $5.4 million, and open interest at $8.9 billion. HYPE is up 85% in the past 30 days, and has risen almost 500% from its April lows. The team said it hopes to continue working with regulators and sees Hyperliquid as a working example of how DeFi can improve modern markets.