Today in crypto, Senator Elizabeth Warren wants more details on the OCC’s approval of what she called “ineligible” crypto trust charters. Bubblemaps claimed a cluster of Polymarket wallets has a 98% win rate on military events and Echo Protocol lost 1,000 eBTC in an admin key compromise.

Senator Warren questions OCC chief on approval of ‘ineligible’ crypto trust charters

Massachusetts Senator Elizabeth Warren accused the US Comptroller of the Currency (OCC) Jonathan Gould of violating banking laws by approving national trust charters for cryptocurrency companies.

In a Monday letter to Gould, Warren said the OCC head had “approved at least nine national trust charters for crypto companies that intend to engage in activities that appear to go far beyond the narrow set of activities permitted by law,” an apparent violation of the National Bank Act.

She called on the comptroller to provide the full applications of crypto companies the OCC had approved or conditionally approved since December 2025, including Coinbase, Crypto.com’s parent company, Ripple, Stripe, BitGo, Circle, Fidelity Digital Assets, Protego Holdings and Paxos, as well as communications between the office and US President Donald Trump, members of his family and White House officials.

“These companies are effectively crypto banks that want to evade the fundamental safeguards and obligations that come with being a bank,” said Warren. “Your decision to facilitate this regulatory arbitrage not only conflicts with federal law, it also poses serious risks to consumers, the safety and soundness of the banking system, and the separation of banking and commerce.”

Source: US Senate Banking Committee

Wallet cluster with 98% win rate on Polymarket military bets: Bubblemaps

Blockchain data platform Bubblemaps said it identified a cluster of Polymarket wallets that collectively earned $2.4 million with a 98% win rate on contracts tied to US military operations.

Nine wallets placed all their major bets just before major military developments, including the Feb. 28 attack on Iran, the killing of Iranian Supreme Leader Ayatollah Ali Khamenei and the US-Iran ceasefire agreement, Bubblemaps wrote in a Monday X post.

The accounts were all funded through centralized cryptocurrency exchanges in a tight timeframe and made some minor losing bets on Feb. 20, which likely served to “avoid attention,” according to Bubblemaps. Four of them each made around $400,000 in profit on their bets that the US would strike Iran on Feb. 28.

The investigation highlights the growing insider trading concerns tied to decentralized prediction markets such as Polymarket and Kalshi. It aimed at curbing insider trading on prediction markets.

A cluster of wallets posted a near-perfect win rate on prediction-market contracts tied to military events on Polymarket. Source: Bubblemaps

While the data platform doesn’t have definitive proof that the accounts belonged to insiders, the onchain trail is “symptomatic of someone with an unfair informational advantage,” Nicolas Vaiman, the CEO of Bubblemaps, told Cointelegraph.

Echo Protocol's eBTC exploited for $77M in admin key compromise

Decentralized finance protocol Echo Protocol was exploited after an attacker minted about 1,000 unauthorized eBTC on the protocol, which is deployed on the Monad blockchain.

Blockchain security firm PeckShield and analytics platform Lookonchain both reported the incident on Tuesday, noting that a hacker minted 1,000 synthetic Bitcoin (eBTC) worth around $76.7 million.

“We are currently investigating a security incident impacting the Echo bridge on Monad.  All cross-chain transactions remain suspended while the investigation is underway,” Echo Protocol said on Tuesday.  

This latest exploit comes in a month that has seen at least 12 protocols compromised, including THORChain, Verus Protocol’s Ethereum bridge, Transit Finance, TrustedVolumes and Ekubo.

According to PeckShield, the attacker attempted to launder some of the loot by depositing 45 eBTC worth around $3.45 million into DeFi lending and liquidity management protocol Curvance. 

The attacker then borrowed 11.3 wrapped Bitcoin (wBTC) worth $868,000 against it, bridged the tokens to Ethereum, swapped them for ETH, and sent 384 ETH worth about $822,000 to the Tornado Cash mixing service. 

The attacker still holds 955 eBTC worth about $73 million, according to DeBank.