Tron (TRX) Soars 10% Amid Strategic Reverse Merger Announcement

In a groundbreaking move, Tron (TRX) has surged 10% following the announcement of a $210 million reverse merger with SRM Entertainment, bypassing a traditional IPO. This strategic decision, spearheaded by Justin Sun, has ignited market optimism, propelling TRX to $0.27. The merger not only accelerates Tron's entry into public markets but also significantly enhances its token holdings, marking a pivotal moment for the blockchain's growth trajectory. As of June 19, 2025, this development underscores Tron's ambitious vision and its potential to reshape the cryptocurrency landscape.

TRX Surges 10% as Tron Announces Reverse Merger to Go Public

Justin Sun's TRON blockchain is set to enter public markets through a $210 million reverse merger with SRM Entertainment, bypassing a traditional IPO. The strategic move has already propelled TRX prices up 10%, with the token trading at $0.27 amid renewed market optimism.

The merger accelerates Tron's access to public market advantages while significantly boosting its token holdings. This development follows Tron's record $694.5 billion USDT transfers in May and aligns with its recent partnerships, including ties to Eric TRUMP and adoption of MicroStrategy-inspired reserve strategies.

Market observers now speculate whether this Nasdaq-bound maneuver could push TRX toward all-time highs, as the project demonstrates growing institutional appeal alongside its established retail following.

Pro-Israel Hackers Exploit Iran's Nobitex Exchange for $81.7M in Multi-Channel Attack

Iran's largest cryptocurrency exchange, Nobitex, suffered an $81.7 million breach across multiple blockchain networks, including Tron, Bitcoin, and ethereum Virtual Machine-compatible chains. The attack, claimed by pro-Israel hackers, targeted the platform's reporting infrastructure and hot wallets, prompting immediate suspension of all access.

Blockchain investigator ZachXBT identified suspicious outflows from Nobitex-linked wallets, with funds moving through TRX, BTC, DOGE, and EVM chains. The exchange maintains user assets in cold storage remain secure, vowing full compensation for affected hot wallet losses. This incident highlights growing geopolitical tensions playing out in crypto markets.

Pro-Israel Group Claims Cyberattack on Iran’s Largest Cryptocurrency Exchange

A pro-Israel hacker group has taken responsibility for a cyberattack on Nobitex, Iran's largest cryptocurrency exchange, resulting in the theft of over $73 million in digital assets. The attackers exploited vanity wallet addresses on Tron and Ethereum Virtual Machine (EVM) compatible chains, with blockchain sleuth ZachXBT identifying suspicious transfers totaling $49 million on Tron alone.

The hacker group not only drained funds but also threatened to publish Nobitex's source code, escalating the confrontation. Despite the breach, Nobitex assured users that cold wallets remained secure and promised reimbursements from its insurance fund. The attack underscores growing geopolitical tensions in the crypto space, where digital asset platforms are becoming targets in international conflicts.

ZachXBT Uncovers $5-10B Black Market on Tron Linked to Lazarus Group Hacks

On-chain investigator ZachXBT has revealed that funds stolen in recent crypto exchange hacks, allegedly tied to North Korea's Lazarus Group, were laundered through illicit networks and small OTC brokers. The so-called "Black U" market operating on the TRON blockchain is estimated to be worth between $5 billion and $10 billion, though much remains untraceable.

Attacks on platforms like Bybit, DMM Bitcoin, and WazirX saw stolen assets laundered "with ease," with laundering groups having "seemingly won the battle" over enforcement. Protocol teams continue to earn fees while ignoring illicit activity, with over 50% of some protocols' usage potentially stemming from stolen funds.

The investigator warns of a "crime supercycle" marked by minimal accountability, citing a surge in abuse following meme coin launches by politicians and dismissed court cases. With influencers scamming followers and courts siding with smart contract exploiters, meaningful enforcement remains absent.