T-Mobile has been ordered to pay $33 million in a private arbitration settlement due to a SIM swap attack that exploited security vulnerabilities, resulting in significant high end cryptocurrency theft. This incident occurred in February 2020, when attackers hijacked a customer’s phone number by convincing a T-Mobile employee to transfer it to a SIM card they controlled. Despite the account having enhanced security measures, such as an eight-digit PIN, the breach allowed the theft of over 1,500 Bitcoin and approximately 60,000 Bitcoin Cash, valued at $38 million at the time.

The California law firm Greenberg Glusker, representing the victim, tech entrepreneur Joseph “Josh” Jones, argued that T-Mobile’s numerous security failures enabled the attack. This ruling, reported in late March 2025, marks one of the largest known payouts related to SIM swapping and highlights ongoing vulnerabilities in telecom security practices. Frequent SIM swaps expose weaknesses in telecom security, like lax verification processes. This erodes public confidence in mobile carriers and 2FA systems, pushing regulators or companies to overhaul policies—costly and slow changes that affect millions of users. The victim faces a domino effect: hours spent reclaiming their number, legal battles over stolen funds, and emotional stress.

Their contacts might get scammed too, amplifying the social fallout. Think of it like a pebble in a pond: the SIM swap is the splash, but the waves hit financial, personal, and institutional shores. In 2021, the FBI reported SIM swapping incidents tied to losses exceeding $68 million, showing how one breach can spiral. The $33 million settlement T-Mobile is paying for the SIM swap vulnerability carries several significant implications. This ruling sets a precedent that telecom companies can be held financially liable for failing to protect customers from SIM swap attacks, even when customers have taken steps like adding PINs. It may push carriers to strengthen security protocols to avoid similar costly judgments.

The case exposes persistent weaknesses in mobile carrier authentication processes. With attackers bypassing enhanced security measures, regulators and consumers might demand more robust safeguards, such as multi-factor authentication beyond SMS or employee training to detect social engineering. The theft of $38 million in cryptocurrency underscores the vulnerability of digital assets tied to phone numbers. This could accelerate efforts to decouple crypto wallets from SMS-based verification, nudging the industry toward hardware keys or biometric authentication. The size of the payout—one of the largest for a SIM swap case—may encourage more victims to pursue litigation against telecoms. This could lead to a wave of lawsuits, forcing carriers to allocate more resources to legal defense and settlements.

High-profile cases like this raise public awareness about SIM swapping risks, potentially driving demand for better education on securing accounts and pressure on carriers to proactively inform customers about threats. Though this was a private arbitration, it might catch the attention of agencies like the FCC or FTC, prompting investigations or new rules to enforce stricter cybersecurity standards across the telecom sector. In short, this settlement could catalyze changes in how telecoms secure their systems, how crypto holders protect their assets, and how the legal system addresses tech-related vulnerabilities—while costing companies that fail to adapt.

Solana may have dominated headlines in the last bull cycle, but a new Layer 1 is emerging with the firepower to dethrone it—and this time, the numbers, architecture, and community are all aligning.

BlockDAG, a hybrid DAG + Proof-of-Work blockchain, is now being widely called a “Solana Killer”, and after its explosive Keynote 3, that label is looking less like hype and more like reality. With a live testnet, DeFi tools launching at mainnet, and powerful EVM + WASM compatibility, BlockDAG is shaping up to be the chain developers—and investors—won’t be able to ignore.

And the momentum backs it up. In just 48 hours post-keynote, BlockDAG raised $5 million, pushing its presale past $208 million. Currently in Batch 27 at $0.0248, the coin has already sold over 19 billion BDAG, and analysts are projecting an aggressive climb toward $1 once it hits major exchanges.

BlockDAG vs. Solana: What’s the Difference?

Solana built its reputation on speed, processing up to 65,000 transactions per second thanks to its Proof-of-History consensus. But that speed comes with major tradeoffs—network outages, centralization risks, and limited tooling support for developers outside its ecosystem.

BlockDAG flips that model by combining Directed Acyclic Graph (DAG) structure with Proof-of-Work security—a parallel-processing approach that allows multiple blocks to be confirmed simultaneously without bottlenecks. The result? Speed without sacrifice.

More importantly, BlockDAG supports both EVM and WASM, giving developers access to the broadest tooling possible. This means seamless compatibility with Ethereum’s smart contract ecosystem, while also embracing the future with WebAssembly—a faster, safer, and more scalable virtual machine.

“Each of these advancements brings us closer to a truly scalable, decentralized, and trustless financial system,” said Antony Turner, BlockDAG CEO, during Keynote 3.

Solana doesn’t offer native EVM or WASM support. BlockDAG does. And that gives it a serious edge in attracting smart contract developers from both Ethereum and Polkadot ecosystems—without needing bridges, wrappers, or compromises.

DeFi-Ready From Day One

While Solana has worked hard to build its DeFi ecosystem, many protocols launched slowly and required third-party integration for key functionalities. BlockDAG, on the other hand, is launching its mainnet with DeFi infrastructure built-in.

Keynote 3 confirmed:

• Native staking
• Lending & borrowing tools
• Token swap functionality
• Cross-chain bridges
• Governance modules

This is more than a tech launch—it’s an ecosystem rollout. Users will be able to earn, transact, and govern the network from day one, with token and NFT creation wizards also ready at mainnet. That’s something most chains take years to deliver.

With over 800,000 X1 Miner App users and 400,000 Tap Miner signups, BlockDAG already has an engaged audience that’s earning and interacting with the token before it even lists. That kind of adoption isn’t theoretical—it’s happening now.

Why BDAG Could Overtake Solana in 2025

Solana’s current market cap hovers in the billions. BlockDAG, with $208M raised pre-launch, is still in its early innings. But the upside is exactly what’s drawing in both retail and institutional investors.

Exchange listings across 10+ major CEXs are already confirmed post-mainnet. With over 16,600 miners sold and a global network of 100+ active nodes, the foundation is real, and it’s growing fast.

The hybrid model also addresses a major criticism of Solana—centralization. BlockDAG’s dual-layered mining structure (via mobile app and ASICs) ensures security is distributed, inclusive, and censorship-resistant. That’s the kind of decentralization Web3 was built for.

If BDAG hits even a modest $1 valuation, early buyers at $0.0248 could be looking at 40x returns. And with momentum like this, the price may not stay this low for long.

“We are more than a project; we are pioneers of a new decentralized era,” Turner declared during the keynote—and the market seems to agree.

The Verdict: BlockDAG Is Built for the Long Game

Solana might have had the spotlight, but BlockDAG is building the infrastructure to outlast and outperform. With superior compatibility, real DeFi tools, stronger decentralization, and growing adoption before launch, the title of “Solana Killer” no longer feels premature—it feels earned.

The next 12 months will determine who leads the next wave of Web3. BlockDAG isn’t waiting for the future to arrive—it’s building it in real time.

And for those looking to get in early, Batch 27 may be the last chance before BDAG becomes the headline it’s destined to be.

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

FTX began repaying its major creditors on May 30, 2025, utilizing $11.4 billion in cash reserves accumulated since its collapse in November 2022. This follows a bankruptcy court-approved plan from October 2024, which allows the defunct cryptocurrency exchange to distribute funds recovered through asset liquidations and settlements. Smaller creditors, those with claims of $50,000 or less, have already started receiving payments, with 98% of them expected to recover approximately 118-119% of their claim values. The repayment process for larger creditors, however, has been complicated by a massive volume of claims—some reports suggest billions of potentially fraudulent or disputed submissions—adding urgency to the process as legitimate creditors accrue 9% annual interest on their claims.

While this marks a significant step toward resolving one of the crypto industry’s most infamous failures, many creditors remain frustrated that repayments are based on cryptocurrency values from November 2022, rather than current higher market prices. The implications of FTX repaying major creditors with $11.4 billion in cash reserves by the end of May 2025 are multifaceted, affecting creditors, the cryptocurrency market, and the broader perception of the industry. Creditors receiving 118-119% of their November 2022 claim values will recover more than their original balances at the time of FTX’s collapse, thanks to the 9% annual interest accrued. However, many are likely to feel shortchanged because repayments are pegged to crypto prices from November 2022 (e.g., Bitcoin was around $16,000 then, compared to significantly higher values in March 2025).

This disconnect could lead to ongoing frustration or legal challenges from those arguing for adjustments to current market values. The 98% of smaller creditors (claims ? $50,000) who’ve already started receiving payments benefit from a relatively swift resolution, potentially restoring some trust in bankruptcy processes for crypto firms.

Larger creditors, however, may face delays due to the complexity of validating claims amidst billions of potentially fraudulent submissions. The infusion of $11.4 billion into the hands of creditors could increase market liquidity, as some recipients may reinvest in cryptocurrencies. This could provide a short-term boost to prices, particularly if sentiment around crypto stabilizes post-FTX fallout. However, the scale of this impact depends on how much of the repaid funds flows back into the market versus being cashed out or held.

FTX’s ability to recover and repay such a significant sum sets a rare positive example in an industry plagued by collapses with little creditor recovery (e.g., Mt. Gox, Celsius). This might bolster confidence among investors and regulators that crypto firms can manage insolvency more responsibly, though it’s an outlier due to FTX’s unique asset recovery efforts. The repayment process could partially rehabilitate the crypto sector’s image, showing that losses aren’t always permanent. Yet, the dissatisfaction over outdated valuation metrics might reinforce calls for clearer rules on how crypto bankruptcies should handle volatile asset prices, potentially fueling regulatory scrutiny.

Governments and financial watchdogs may view FTX’s case as evidence that stronger oversight is needed to prevent fraudulent claims and ensure equitable creditor treatment. This could accelerate efforts to classify cryptocurrencies under traditional financial frameworks, impacting how future insolvencies are managed. FTX’s downfall and subsequent repayment saga highlight the importance of robust risk management and transparency. Other exchanges and platforms may face increased pressure to prove solvency and protect user funds, possibly through audits or insurance mechanisms.

The reported billions of dubious claims could slow down or derail full repayment, potentially leading to legal battles that extend beyond May 2025. This uncertainty might temper optimism about the process. While the repayment doesn’t directly tie to his legal consequences (he’s serving a 25-year sentence as of March 2025), it shifts some focus from his fraud to the estate’s recovery efforts, possibly softening the narrative around FTX’s collapse over time. While the $11.4 billion repayment is a landmark achievement in crypto bankruptcy, it’s a double-edged sword: it offers closure for some and a potential market lift, but it also exposes lingering valuation disputes, fraud challenges, and regulatory gaps that could shape the industry’s future trajectory.