The conflict between Dohrnii Labs and Blynex has escalated into a legal battle as Dohrnii Labs, a blockchain-based learn-to-earn platform, has filed a police report in the United Arab Emirates (UAE) against the crypto exchange Blynex.

The allegations center around an unauthorized liquidation of Dohrnii’s DHN tokens, which resulted in a significant financial loss for the company.

Promised Loan Trigger Conflict

According to Dohrnii Labs, Blynex failed to deliver a promised loan, illegally liquidated their collateral, and blocked access to their remaining tokens.

Transparency Update

We’ve filed a police report in the UAE against @Blynexex and affiliated individuals.

Nearly 24h ago, our team attempted to withdraw 4,000 DHN — the transaction remains blocked with no response.

We never received a loan, yet @Blynexex liquidated our…

— Dohrnii Labs (@Dohrnii_io) March 24, 2025

On March 23, Dohrnii Labs deposited 12,649.99 DHN tokens, valued at over $500,000, with Blynex.

The company claims it used 8,650 DHN tokens as collateral for a 30-day loan in exchange for 80,000 USDT.

However, Dohrnii Labs states that they never received the loan. Despite this, Blynex allegedly liquidated the collateral, selling it on Uniswap for 149,151 USDT, which caused a drop in DHN’s market value.

Furthermore, Dohrnii Labs has been unable to withdraw its remaining 4,000 DHN tokens, prompting them to take legal action.

Dohrnii Labs has made its stance clear, stating It demands the immediate return of its 4,000 DHN tokens and full reimbursement of the USDT generated from its collateral.

The company has also announced that it is contacting local regulators, including the Virtual Assets Regulatory Authority (VARA) and Abu Dhabi Global Market (ADGM), to escalate the matter.

Blynex’s Response: Claims of Risk Management

Blynex has responded to the accusations by asserting that the liquidation was part of their “automated risk management system.”

According to a statement, Co-founder Mike Baskes stated that their system identified a high-risk scenario in which the liquidity of the DHN token was too limited to sustain collateral in case of a market downturn.

He further claimed that when the liquidation occurred, Blynex only generated 145,000 USDT from the sale instead of the expected amount, reinforcing their decision to act swiftly.

Baskes explained that the available liquidity for DHN was approximately $315,000 at the time, making it difficult to sell the tokens without impacting the price.

The company insists that the decision to liquidate was made to prevent further losses.

Dohrnii Labs has refuted Blynex’s justification, labeling it as misleading. They argue that the liquidation was unnecessary since the collateral was nearly double the value of the loan that was never even issued.

According to Dohrnii Labs, Blynex’s actions were not about mitigating risk but rather an unjustified seizure of assets.

Statement regarding @Blynexex $DHN sell:

On March 23, 2025, the Dohrnii team deposited a total of 11,850 DHN, valued at approximately $550,000, to @Blynexex across five transactions. Of this amount, 8,650 DHN (worth around $360,000) were used as collateral for a 30-day loan in…

— Dohrnii Labs (@Dohrnii_io) March 23, 2025

Blynex has reportedly attempted to settle the dispute by offering Dohrnii Labs 80,000 USDT and the release of 4,000 DHN tokens on the condition that all legal proceedings are dropped.

Dohrnii Labs has rejected this offer, stating that the 4,000 DHN tokens belong to their users and are not negotiable assets. They maintain that the right to withdraw these funds should not be up for discussion.

Vitalik Buterin’s Involvement and Market Impact

The Dohrnii Labs dispute with Blynex follows another significant event impacting DHN’s market performance as Ethereum co-founder Vitalik Buterin’s unexpected liquidation of DHN tokens he received for free.

In January 2025, Buterin was sent 10,000 DHN tokens without his consent. On March 18, Buterin sold 5,000 DHN tokens, netting 65 ETH (approximately $124,000).

His sale triggered a mass liquidation event, causing a “flash crash” in DHN’s price. In minutes, it dropped from $38.50 to $20.69, a staggering 50% decline. Despite a partial recovery to $39.75, the token remains down 11% for the week.

Dohrnii Labs has since proposed an over-the-counter (OTC) sale for Buterin’s remaining 5,000 DHN tokens to mitigate further market instability should he decide to sell the rest.

As of now, Blynex has yet to provide any official statements beyond their initial defense of the liquidation.

Meanwhile, Dohrnii Labs remains firm in its pursuit of legal recourse, seeking justice through regulatory channels and potentially collaborating with other affected parties for a joint lawsuit.

The post Dohrnii Labs Files Police Report Against Blynex Over Unauthorized Liquidation appeared first on Cryptonews.

Ethereum is currently in a major support zone. It’s trading around the $2K level, which happens to be the bottom of a prominent trendline.

The last two times $ETH bounced off from this trendline (in May 2022 and November 2022), it surged by 110% and 250%, respectively.

If the scenario repeats this time around, we can expect $ETH to reach $3.5K in the next few weeks.

In addition to the upward trendline, $ETH currently happens to be between its strongest support and resistance zones – highlighted in the image by the blue rectangle.

Read on as we’ll discuss which institutional investors see this as a ripe opportunity to add $ETH to their portfolios and how you can match their ROI by buying the best presales.

Blackrock Accumulates Record Amount of Ethereum

BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) added $155M in $ETH investments over the last week, taking its total $ETH holdings to more than $1.145B.

Although BUIDL has a diversified portfolio across various chains, such as Polygon, Optimism, Arbitrum, Avalanche, and Aptos, Ethereum is still one of its major bets in this dicey crypto market.

It’s worth noting that Trump-backed World Liberty Financial (WLFI) also holds around $41M in $ETH, which comprises 40% of its total portfolio value.

This vote of confidence from institutional investors is surely a positive sign for $ETH in the long term.

Speaking of the long haul, our detailed $ETH price prediction for 2025 laid out why the token can reach $6K before the end of the year.

Although investing directly into $ETH is the simplest way to capitalize on the crypto’s upcoming bull run, it’s not necessarily the very best.

The best cryptos on presale could be more profitable due to their current low capitalization.

New cryptocurrency typically follows the larger crypto trend but can potentially make you more money than $ETH (or $BTC). If you don’t know which meme coins on presale to consider, here are our top three suggestions.

1. BTC Bull Token ($BTCBULL) – Best Presale to Benefit from Big Crypto’s Growth

After a long-drawn consolidation, $BTC is finally showing signs that it wants to rally higher. If you wish to make the most of $BTC’s growth, consider investing in BTC Bull Token ($BTCBULL).

It’s worth noting that even though $BTCBULL follows the coattails of $BTC, it’s based on the Ethereum blockchain thanks to the network’s large liquidity pool.

$BTCBULL owners who store their tokens in Best Wallet will get free $BTC every time the OG crypto climbs and reaches a new milestone, such as $150K and $200K. At $250K, HODLers will receive a massive $BTCBULL airdrop.

By directly linking its $BTC giveaways to the actual King Crypto’s price, BTC Bull Token has ensured the price of its own token, $BTCBULL, will also keep rising.

Another reason why BTC Bull Token can be the next crypto to explode is its token burn mechanism. Essentially, the developers will shave off a part of the total $BTCBULL supply every time $BTC’s price rises by $50K.

With one token currently available for just $0.002425, $BTCBULL’s presale is ongoing and has raised over $4M. Here’s how to buy BTC Bull Token.

2. Solaxy ($SOLX) – Top Meme Coin Building Debut L2 for Solana

Built to unleash the true potential of Solana, Solaxy ($SOLX) will be the first-ever Layer-2 solution on the memecoin-friendly blockchain.

Solana has been battling with network congestion and scalability issues ever since its popularity among investors skyrocketed thanks to $TRUMP and no-code launchpad Pump.fun.

Solaxy will reduce the burden on Solana by processing a sizable portion of the network’s total transactions on  its sidechain.

Additionally, Solaxy will jack up Solana’s affordability, seeing as it will process transactions in bulk and not one by one.

Given that Solaxy could be one of the biggest catalysts behind Solana’s rise to new all-time highs, it could easily be among the top trending cryptos once it launches.

The token is currently in presale, which is why it’s available for just $0.001672. Speaking of Solaxy’s presale, it’s comfortably one of the hottest new cryptos on the market right now – over $27.6M in funding is nothing to sniff at, after all.

For more info on Solaxy’s purchase process, check out our detailed guide on how to buy Solaxy.

3. Lightchain AI ($LCAI) – Revolutionary AI Crypto Project Currently in Presale

Lightchain AI is a fantastic crypto project built on Ethereum, which is why it enjoys industry-leading efficiency and scalability.

Furthermore, like $BTCBULL and $SOLX, $LCAI, is currently in presale – where it has already amassed a whopping $18M in funding.

What’s so special about $LCAI, you ask? Well, it’s a much anticipated AI-crypto partnership.

For those unaware, investments in AI+crypto projects (as well as AI agent coins) have skyrocketed in recent times thanks to this niche’s unprecedented potential.

Lightchain AI, for example, plans to combine AI and blockchain technologies to build more user-friendly and secure blockchain networks.

Furthermore, its whitepaper suggests that it’ll reward users who make meaningful contributions to AI development while keeping the network’s security intact.

If you wish to benefit from $LCAI’s growth, consider becoming an early investor in the project. As mentioned earlier, the token is currently in presale, where it’s available for a low price of $0.007125.

Bottom Line

$ETH will be right alongside $BTC when the next crypto rally gains steam. Although the above-mentioned tokens could make you a lot of money, don’t dive into crypto headfirst.

Always have strong risk management in place. This means investing only a sensible portion of your total net worth and taking crypto’s volatility into account.

Last but not least, you must always do your own research before investing. Our article, after all, isn’t financial advice.