Crypto News Today (7/8/25): Tornado Cash Co-Founder Sentenced, Investors Lost Rp50 Billion, and Indonesia Ready for National ‘Buy Bitcoin’

Jakarta, Pintu News – One shocking conviction, billions in losses, and ambitious plans – the crypto world is in turmoil today! Roman Storm, co-founder of Tornado Cash, was found guilty of one count of unlicensed money transmission operations.

On the other hand, an investor lost US$3 million (around Rp49.0 billion at an exchange rate of US$1 = Rp16,319) due to phishing in just one click. Meanwhile in Indonesia, the national discourse of using Bitcoin as a state reserve is starting to be seriously discussed as a new economic strategy.

Verdict for Tornado Cash Co-Founder

A jury in Manhattan found Roman Storm guilty of conspiracy to operate an unlicensed money transmission business-an offense that can result in up to 5 years in prison.

However, for the other two charges-conspiracy to launder money and violation of sanctions against North Korea-the jury failed to reach a unanimous decision, resulting in a deadlock.

Despite escaping the two most serious charges, this verdict still disturbs the cryptocurrency industry, as it shows that the creators of decentralized protocols can be held liable for misuse by third parties.

Storm’s legal team has said it will continue the appeal, while a decision on whether the government will re-file the two deadlocked indictments is pending.

Read also: Michael Saylor: “Bridge to Tomorrow”, Any Link to Bitcoin?

Investors Lost IDR 49 Billion in an Instant

A prominent crypto investor fell victim to some pretty heavy phishing. Simply by signing a single malicious transaction without verifying the contract address, US$3.05 million-about Rp49.8 billion-was wiped out.

The “address poisoning” manipulation trend is particularly dangerous: scammers disguise addresses by hiding the middle character, so users only check the prefix and suffix.

Recently, another victim lost more than US$900,000 due to a phishing approval that was compromised 458 days later-underlining the importance of revoking old approvals.

The message is clear: “One wrong click and your wallet could be drained. Don’t sign transactions you don’t fully understand,” warns the blockchain security platform.

Read also: Cardano Ready to Launch Midnight Airdrop, What’s the Future Project?

Indonesia Considers ‘National Bitcoin Reserve’

Indonesia is moving to develop a new economic strategy by exploring the possibility of making Bitcoin (BTC) a national reserve asset. The Bitcoin Indonesia community conveyed this idea directly to Vice President Gibran Rakabuming Raka’s office in early August 2025.

This plan includes utilizing renewable energy such as hydro and geothermal to mine BTC, supporting economic growth while also absorbing labor in the technology and energy sectors.

Public education plans are also emphasized, ranging from the integration of BTC materials in the curriculum to digital literacy campaigns in the wider community.

If realized, this move will place Indonesia in the ranks of countries that first utilize cryptocurrency as an instrument of strategic economic policy.

Conclusion

From the financial devastation of phishing, to the legal battles of prominent crypto figures, to the revolutionary idea of making BTC a national reserve-all show how fast and deep the shifts are happening in the global and Indonesian crypto ecosystem. Stay updated, stay vigilant, and prepare a roadmap in this ever-changing world.

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Reference:

• Cointelegraph. Here’s what happened in crypto today. Accessed August 7, 2025
• Featured Image: Generated by Ai