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article Crypto.com Secures CFTC Green Light to Offer Leveraged Crypto Derivatives in the U.S.

Crypto.com has achieved a major regulatory breakthrough in the United States after receiving approval from the Commodity Futures Trading Commission (CFTC) to offer margined crypto derivatives through its U.S. affiliate, Crypto.com | Derivatives North America (CDNA).
The decision grants CDNA an amended Derivatives Clearing Organization (DCO) license, allowing it to expand beyond fully collateralized products into cleared, leveraged derivatives across cryptocurrencies and other asset classes. This marks a crucial milestone in Crypto.com’s plan to build a comprehensive, regulated derivatives ecosystem for both institutional and retail traders in the U.S.

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Key Points
CFTC approval enables CDNA to provide cleared, margined crypto derivatives.
Crypto.com | FCM, the company’s U.S. futures arm, is now a registered Futures Commission Merchant (FCM) under the National Futures Association (NFA).
These licenses allow Crypto.com to operate a fully compliant, leveraged trading platform for American customers.

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Details of the Approval
According to Crypto.com’s official statement, CDNA — already recognized as a CFTC-registered exchange and clearinghouse — has now received an updated DCO license that broadens its operational scope. This enables the platform to clear margined derivatives not just in crypto markets but across multiple asset types.
Previously, the company’s authorization was limited to fully collateralized products, often used in prediction markets and other non-leveraged applications.
In a parallel development, Foris DAX FCM LLC, operating as Crypto.com | FCM, received NFA approval as a Futures Commission Merchant. This designation allows the platform to facilitate trades for both retail and institutional clients within U.S. derivatives markets.

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Executive Commentary
Crypto.com CEO and co-founder Kris Marszalek called the move a “significant step forward” in offering regulated leveraged derivatives to American traders under U.S. oversight.

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He also acknowledged the role of Acting CFTC Chair Caroline Pham, thanking her and the CFTC for what he described as a “collaborative and transparent regulatory process.”

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The Path to Approval
Crypto.com’s amended DCO application was initially filed in June 2024 after discussions with CFTC staff that began the previous year. The review process included detailed technical demonstrations of CDNA’s clearing systems and risk controls.
Meanwhile, the FCM registration process started earlier in April 2022, undergoing a similar in-depth evaluation by NFA officials before final approval.
According to Steve Humenik, Head of Clearing at CDNA, the achievement highlights the agency’s dedication to advancing the crypto market within a structured regulatory framework.
Nick Lundgren, Crypto.com’s Chief Legal Officer, emphasized that this milestone reflects the company’s broader mission to become “the most regulated financial services platform in the world.”
Travis McGhee, Global Head of Capital Markets, added that CDNA is now developing a next-generation clearinghouse built for scale, transparency, and robust risk management.

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CFTC Expands Its Digital Asset Oversight
In a related development, the CFTC has broadened its engagement with the crypto industry by appointing new members to its Global Markets Advisory Committee (GMAC) and Digital Asset Markets Subcommittee (DAMS).
The new appointees include:
Katherine Minarik (Uniswap Labs)
Avery Ching (Aptos Labs)
James J. Hill (BNY)
Ben Sherwin (Chainlink Labs)
These individuals bring experience in blockchain infrastructure, legal policy, and institutional crypto strategy.
Additionally, Scott Lucas of JPMorgan will now co-chair the committee alongside Sandy Kaul of Franklin Templeton, succeeding Caroline Butler.
Lucas underscored the need for “clear, effective regulatory frameworks,” while Kaul stressed that consumer protection must remain central to the CFTC’s approach.
The DAMS committee continues to advise the regulator on key issues like tokenization, decentralized finance (DeFi), and blockchain adoption, helping ensure consistent oversight across traditional and digital financial markets.

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Summary
Crypto.com’s U.S. arm wins CFTC and NFA approval to offer margined derivatives.
Marks the first major step toward a regulated leveraged crypto platform in the U.S.
CDNA and Crypto.com | FCM cleared for full-scale trading operations under federal oversight.
The move aligns with the CFTC’s broader push to modernize digital asset policy.

By 100%
- October 5, 2025

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article Canada Slaps KuCoin with Record $14M Fine Over Major AML Violations

Canada’s financial watchdog has imposed a historic penalty on KuCoin, marking the nation’s largest-ever fine for anti–money laundering (AML) breaches.
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) announced a C$19.6 million (US$14.09 million) fine against Seychelles-based Peken Global Limited, the company operating KuCoin. According to FINTRAC, the exchange failed to register as a foreign money services business and neglected to report nearly 3,000 large cryptocurrency transactions between 2021 and 2024.
Additionally, the agency cited 33 incidents where KuCoin did not report transactions that raised red flags for potential money laundering or terrorist financing.

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FINTRAC Acts Before Global Audit
The enforcement comes just ahead of a critical Financial Action Task Force (FATF) audit scheduled for November, during which Canada’s safeguards against financial crimes will be closely examined.
KuCoin has denied all allegations, describing the fine as “excessive and punitive.” The company stated that it has appealed to the Federal Court of Canada, arguing that FINTRAC wrongly classified it as a foreign money services business under Canadian regulations.
FINTRAC revealed that the KuCoin case alone represents the bulk of its total enforcement actions over the past year. Out of 23 total penalties worth $25 million, KuCoin’s violations were described as “particularly serious” and, in some cases, “severe.”
This isn’t KuCoin’s first regulatory issue in Canada — in 2023, the Ontario Securities Commission also sanctioned the exchange for operating without proper registration.

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Previous U.S. Settlement
Earlier this year, KuCoin reached a $300 million settlement with the U.S. Department of Justice after pleading guilty to running an unlicensed money services business. As part of that agreement, the company committed to cease all operations in the United States.
The timing of FINTRAC’s fine coincides with Canada’s largest cryptocurrency seizure ever. Authorities confiscated over C$56 million (about US$40 million) in assets from the lesser-known exchange TradeOgre. The Royal Canadian Mounted Police (RCMP) executed the operation, completely dismantling the platform — marking the first time Canadian law enforcement has fully shut down a crypto exchange.

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Thailand’s Surprising Partnership with KuCoin
Despite ongoing legal challenges, KuCoin continues to expand globally. In a recent move, Thailand’s Ministry of Finance selected KuCoin as its first official crypto partner for the G-Token initiative — a government-backed, blockchain-based digital bond program valued at 5 billion baht (approx. $153 million).
Under this program, KuCoin Thailand will collaborate with XSpring Digital, SIX Network, and Krungthai XSpring to manage token subscriptions, redemptions, and listings. The G-Tokens, fully backed by the Thai baht, offer yields higher than traditional savings accounts and allow investments starting at just $3, making government bonds accessible to ordinary citizens.
The initiative, authorized under Thailand’s Public Debt Management Act, reflects the country’s push to modernize public finance and democratize access to investments through blockchain technology. KuCoin is also expected to advise on expanding G-Token offerings internationally, pending regulatory approval.

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Summary
FINTRAC fined KuCoin a record C$19.6 million for AML noncompliance.
The exchange allegedly failed to report 3,000 large crypto transactions and 33 suspicious cases.
KuCoin has appealed the decision, calling the penalty excessive.
Canada’s AML enforcement is under scrutiny ahead of an upcoming FATF audit.
Despite regulatory pressure, KuCoin continues global expansion, including a major government partnership in Thailand.

By 100%
- October 5, 2025

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article Sam Bankman-Fried Fights Back: Appeal Set to Challenge 25-Year Sentence

Sam Bankman-Fried, the former head of collapsed crypto exchange FTX, is attempting to cut down his 25-year prison sentence by filing an appeal with the U.S. Court of Appeals for the Second Circuit. His hearing has now been officially scheduled for November 4, 2025.
From Conviction to Appeal
Bankman-Fried, once seen as one of the most influential figures in digital assets, was sentenced in March 2024 after being found guilty on seven felony counts tied to the $8 billion FTX collapse. Following sentencing, he was transferred from New York to a correctional facility in California.
The upcoming appeal represents one of the most significant developments since that verdict. His legal team has been pushing for a review since April 2024, claiming his trial was fundamentally unfair.
Defense Arguments
In a September 2024 filing, his attorneys argued that Bankman-Fried was “never presumed innocent” and that prosecutors painted an overly dramatic and misleading picture, framing FTX customer funds as irretrievably gone.
Adding to the defense’s strategy, a pinned post from Bankman-Fried himself outlined claims that FTX’s Chapter 11 bankruptcy process was mishandled.
According to him, outside law firms and restructuring chief John Ray III pushed their own agenda—prioritizing legal fees and control of the exchange over customer interests. If introduced in court, this narrative could be used to shift the case from criminal wrongdoing to alleged procedural misconduct.
Tough Odds Ahead
While a successful appeal could lead to either a new trial or resentencing, experts warn that reversing such a high-profile conviction will be extremely difficult. The jury heard damaging testimony from Bankman-Fried’s closest associates, including Caroline Ellison and Gary Wang, which heavily influenced the outcome.
Ellison, former CEO of Alameda Research and once romantically linked to Bankman-Fried, pleaded guilty and received a two-year prison sentence in September 2024, with release expected in March 2026.
Meanwhile, Gary Wang and former engineering director Nishad Singh were given time served sentences after cooperating with prosecutors.
Political Maneuvers and Speculation
Beyond the legal battlefield, Bankman-Fried has taken steps that some view as political positioning. In March, he sat down with Tucker Carlson and hinted at adopting Republican-aligned views—prompting speculation he may seek a presidential pardon from Donald Trump.
The idea gained traction given Trump’s controversial pardon of Silk Road founder Ross Ulbricht. Still, SBF has not explicitly requested such a pardon.
Adding further complexity, a September 9 filing in the U.S. Bankruptcy Court in Delaware revealed that liquidators of Three Arrows Capital (3AC) intend to depose Bankman-Fried under Rule 45 of the Federal Rules of Civil Procedure.
What Comes Next?
As the November 4 appeal date approaches, the spotlight will once again turn to Bankman-Fried, who remains at the center of one of the most infamous financial collapses in modern history. If the court sides with his defense, it could reshape not only his future but also broader perceptions of accountability in the crypto industry.

By 100%
- September 18, 2025

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$1.35M Drained in THORChain Co-Founder Scam: Deepfakes, Telegram Hacks, and DPRK Links

$1.35M Drained in THORChain Co-Founder Scam: Deepfakes, Telegram Hacks, and DPRK Links
A sophisticated scam has cost a THORChain co-founder $1.35 million after attackers combined a hacked Telegram account, a convincing deepfake video call, and what may have been a zero-day exploit to steal keys from an old MetaMask wallet.
How the Attack Played Out
On September 9, JP, one of THORChain’s co-founders, lost access to funds from a forgotten MetaMask account. The attackers initially hijacked a friend’s Telegram account and used it to invite him to a Zoom meeting.
During the call, a deepfake video added credibility. JP clicked on a link but didn’t see any pop-ups or suspicious prompts. He suspects the attackers leveraged access to his encrypted iCloud Keychain or a secondary Chrome profile on his Mac, where his wallet data was stored.
According to his own account, no administrator password requests or installation prompts appeared, suggesting the use of a zero-day exploit.
Forgotten Wallet, Hidden Assets
The stolen funds came from an old MetaMask wallet JP had staked assets in—tokens that don’t appear on Etherscan unless tracked through portfolio tools. This made the account easy to overlook until it was too late.
Following the theft, blockchain trackers identified an on-chain message sent to the exploiter’s wallet. The note offered a bounty for returning the stolen THOR tokens within 72 hours, promising no legal action if the attacker complied and provided contact details for THORSwap’s team.
Investigators Confirm the Breach
Blockchain investigators confirmed that approximately $1.2 million to $1.35 million was drained from JP’s account. The breach was first reported by on-chain monitoring services, which flagged suspicious transfers tied to the compromised wallet.
Notably, critics highlighted that THORChain itself had previously profited from the laundering of assets connected to DPRK-backed hacks on platforms like Bybit—making this incident appear ironically fitting given the suspected North Korean ties.
Lessons and Warnings
Reflecting on the attack, JP stressed several lessons:
Private keys become riskier over time – avoid long-term storage in iCloud, Google Drive, or similar services.
Use independent two-factor authentication, ideally on a burner device.
Adopt threshold signature wallets like Vultisig, which split key shares across multiple devices for added protection.
He warned: “Attacks are only going to escalate. Solutions exist—we just need to upgrade our wallets.”
A Bigger Picture: Telegram Scams Exploding
This case is part of a broader crisis. By mid-2025, crypto investors had lost $2.2 billion, with wallet breaches and scams making up the bulk of incidents. Crystal Intelligence estimates that over the past 14 years, hacks and breaches have stolen $22.7 billion in total.
Scam Sniffer recently reported that malware scams on Telegram have surged by 2,000% since November, surpassing traditional phishing campaigns. Fraudsters distribute malicious code through fake verification bots in airdrop, trading, and alpha groups—harvesting passwords, private keys, and wallet data once executed.
The UN has previously estimated that scams, laundering operations, and stolen data sales on Telegram generate more than $36.5 billion annually, much of it via USDT.
Meanwhile, cybercriminals continue to promote deepfake tools and malware, with the U.S. Treasury linking Huione Group to $98 billion in illicit crypto flows, some tied directly to North Korea’s Lazarus Group.

By 100%
- September 18, 2025

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article ModStealer Malware Masquerades as Job Offers to Target Crypto Wallets

A dangerous new strain of malware called ModStealer is spreading across Windows, macOS, and Linux, slipping under the radar of antivirus software and going after crypto wallets.
The Essentials
Cross-platform threat: ModStealer infects Windows, macOS, and Linux.
Fake job ads: The malware is distributed through fraudulent recruiter postings aimed at developers.
Crypto focus: It extracts wallet data, private keys, credentials, and more.
MaaS model: Experts warn this is part of the fast-growing Malware-as-a-Service economy.
Researchers at security company Mosyle revealed that ModStealer has managed to remain undetected since it first appeared on VirusTotal nearly a month ago, as reported by 9to5Mac.
How Victims Get Infected
Cybercriminals are using fake job recruitment ads to lure victims. Once targeted developers download and execute a malicious JavaScript file written in NodeJS, traditional signature-based defenses fail to flag it.
Unlike simple infostealers, ModStealer comes equipped with a wide range of capabilities. It specifically targets 56 browser wallet extensions, including Safari plug-ins, and can steal:
Private keys
Credentials
Configuration files
Digital certificates
It doesn’t stop there—clipboard hijacking, screenshot capture, and even remote code execution are built in, giving attackers near-total control of compromised systems.
On macOS, the malware leverages Apple’s launchctl tool, embedding itself as a LaunchAgent for persistence. Once established, it quietly observes user activity and exfiltrates data to a server believed to be hosted in Finland, though routed through German infrastructure.
Part of a Bigger Trend
Security analysts believe ModStealer is sold as part of the Malware-as-a-Service model, where developers provide the malicious software and affiliates deploy it without needing technical knowledge.
This aligns with broader industry findings—Jamf recently reported that Mac-focused infostealers jumped 28% in 2025, highlighting the rapid growth of these threats.
For crypto users, the stakes are especially high. With wallets and blockchain credentials in the crosshairs, the damage can be immediate and costly. Mosyle emphasized:

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The campaign underlines the need for behavior-based security tools, as signature detection alone is no longer enough.
$3 Million Lost in Phishing Scam
In a separate but related event, a crypto investor recently lost $3.05 million in Tether (USDT) after unknowingly signing a malicious blockchain transaction.
The case, flagged by blockchain analytics firm Lookonchain, highlights how phishing continues to devastate digital asset holders. The attacker relied on a common oversight—victims checking only the first and last characters of wallet addresses instead of verifying the entire string.
According to CertiK’s latest report, crypto investors lost $2.2 billion in the first half of 2025 alone. Of that:
$1.7 billion came from wallet compromises across just 34 incidents.
$410 million was drained through phishing in 132 separate attacks.
These numbers reveal a disturbing reality: whether through malware like ModStealer or phishing tricks, crypto users remain prime targets for cybercriminals.

By 100%
- September 18, 2025

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article Crypto Miners Caught Draining Power From Hong Kong Care Homes

Authorities in Hong Kong have arrested two local technicians accused of secretly running a cryptocurrency mining setup inside facilities for the disabled. By tapping into the buildings’ electricity and internet, they allegedly racked up soaring energy bills and slowed down the network—raising suspicions that led to a police raid.
What Happened?
The case came to light when staff noticed unusually high electricity charges, with some bills shooting up by as much as HK$9,000 (about $1,150). Alongside this, internet performance inside the facilities noticeably deteriorated. Both red flags triggered further checks and eventually brought the matter to law enforcement.
Investigators revealed that the men, aged 32 and 33, had installed eight cryptocurrency mining rigs inside suspended ceilings across two separate care home offices—five located in Sham Shui Po and another three in Kwun Tong.
How They Operated
The miners reportedly ran nonstop, drawing power and bandwidth from the care homes’ infrastructure. During a routine inspection, the IT department discovered unauthorized devices hidden above the ceiling tiles.
Inspector Ng Tsz-wing of the Sham Shui Po district’s financial crime division explained that the suspects exploited ongoing renovation work in August to secretly wire the miners into the facilities’ electrical and network systems. From there, the rigs continuously mined cryptocurrency without the institutions’ knowledge.
Both suspects, who had been employed for several years by an engineering firm, were arrested last Friday in Mong Kok and Sham Shui Po. Police described the operation as an isolated case rather than part of a broader criminal network.
Legal and Industry Reaction
The care facilities involved have not been publicly identified, but the investigation remains active. Under Hong Kong’s Theft Ordinance, illegally using electricity can result in a prison term of up to five years.
Authorities warned the public to remain alert during construction or system upgrades. Inspector Ng advised residents and institutions to carefully track electricity usage and internet performance—and report any suspicious activity to police.
Francis Fong Po-kiu, honorary chairman of the Hong Kong Information Technology Federation, highlighted the enormous power demand of crypto mining. “It’s like running your air conditioning nonstop,” he explained, noting that the high costs can tempt individuals to cut corners illegally in pursuit of Bitcoin and other digital assets.
Related Case Abroad
This incident follows another high-profile cryptojacking case overseas. In the United States, Charles O. Parks III, also known online as “CP3O”, was sentenced to a year and one day in prison after orchestrating a $4.5 million illegal mining scheme.
According to the Department of Justice, Parks exploited major cloud service providers between January and August 2021, diverting their computing power and storage to mine cryptocurrency. He then cashed out the profits, funding a lavish lifestyle that included luxury hotels, jewelry, a Mercedes-Benz, and first-class travel.
Despite portraying himself as a successful self-made crypto investor, authorities confirmed that his wealth was entirely built on fraud.

By 100%
- September 18, 2025

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article Supreme Court Paves Way for Crypto Surveillance – Why Onchain Privacy Matters

🏛 Supreme Court Decision – A Turning Point for Crypto Privacy
On June 30, 2025, the U.S. Supreme Court declined to review Harper v. Faulkender, a case that challenged the IRS’s broad “John Doe” summonses for cryptocurrency records. By letting the lower court ruling stand, the justices effectively confirmed that the third-party doctrine — a principle nearly a century old — also applies to blockchain data.
This means that, just like with bank records, information voluntarily shared on a public ledger loses protection under the Fourth Amendment. Once data leaves personal control, it becomes open to warrant-free inspection.

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In other words: every crypto transaction onchain is now vulnerable to government scrutiny, prosecutors, tax agents, and even malicious actors willing to sift through blockchain records.

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Blockchain Analytics – “Radical Transparency” for Profit
No industry has benefitted more than blockchain forensics firms. The analytics sector is expected to reach $41 billion in 2025, nearly double the year before. Their tools already flag over 60% of illicit stablecoin activity, proving how little anonymity remains.
Regulators are offered a tempting deal: “Pay us, and every wallet becomes a glass bank.”
But there’s a darker side — massive data collection. Payrolls, medical payments, political donations — all sucked into giant databases. Once stored, this information is vulnerable to leaks, subpoenas, and misuse.
Lawmakers are unlikely to fix this anytime soon. The real solution lies in cryptographic engineering that can restore privacy onchain.
🛡 Privacy Tools – Fighting Back with Tech
Some Bitcoin-based methods already allow users to publish a static receiving address while generating new, unlinkable outputs onchain. This frustrates forensic tracking by breaking common patterns.
Other techniques pool transactions from multiple users, blurring the line between sender and receiver. Since these do not rely on custodial mixers like Tornado Cash (sanctioned in 2022), they are harder to regulate.
If wallet providers made such protections default features — instead of hidden opt-ins — baseline privacy could become standard, just like encrypted HTTPS did for the web.

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Adoption vs. Privacy – The Hidden Barrier
Reports predict that consumer payment adoption will rise by 82% between 2024 and 2026, but only 2.6% of Americans are expected to use crypto for everyday payments.
Why so low? Because perceived security and confidentiality matter. If a barista can trace your coffee tip back to your home address, crypto adoption will stall.
Institutional investors also worry. Under current law, portfolio managers must assume that every onchain trade is visible to regulators, competitors, and adversaries. Only those using privacy-enhancing rails can maintain true trade secrecy.
🕰 The Lesson of History – Privacy First
History shows that early adopters of privacy safeguards eventually gain market advantage. For example, email encryption was once a niche, but today it is standard across enterprise platforms.
The same could happen in blockchain. Developers, custodians, and Layer-2 projects have the power to make privacy the default, not an optional add-on.
Failing to act will leave decentralized finance as the most transparent yet most surveilled financial system ever created.
The Supreme Court has made its stance clear. Now, it’s up to engineers and innovators to decide whether blockchains protect users — or expose them.

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Final Thoughts
Privacy isn’t just a personal preference — it’s the backbone of true financial freedom. Without it, blockchain risks becoming a tool of mass surveillance rather than liberation.

By 100%
- August 31, 2025

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article Trump Media & Crypto.com Launch Landmark $6.4B CRO Treasury Venture

In a move that signals growing institutional confidence in cryptocurrency, Trump Media & Technology Group and the major exchange Crypto.com have announced a powerful alliance. They are partnering with Yorkville Acquisition Corp., a Special Purpose Acquisition Company (SPAC), to create a groundbreaking new entity focused entirely on the Cronos ($CRO) ecosystem, with a massive war chest of $6.42 billion.
This deal is poised to create the largest publicly traded treasury vehicle dedicated to a single cryptocurrency, marking a significant milestone in the fusion of traditional finance and the digital asset space.
The Deal Explained: A $6.4B Powerhouse

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The new company, to be named Trump Media Group CRO Strategy, Inc., is the result of a definitive business combination agreement. The funding structure is colossal and multifaceted:
$1 Billion in CRO Tokens: The treasury will be seeded with 6.3 billion CRO tokens, representing a significant portion of the asset's circulating supply.
$200 Million in Cash: Providing immediate liquid capital for operations.
$220 Million in Warrants: Offering future equity potential.
A $5 Billion Equity Line of Credit: Provided by a Yorkville affiliate, ensuring ample firepower for further CRO acquisition.
This positions the new entity as a "CRO whale" of unprecedented scale, with the resources to significantly influence and support the Cronos ecosystem.
You can see the official announcement from Crypto.com's CEO, Kris Marszalek, here:

Why Cronos (CRO)? The Blockchain of Choice

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At the heart of this ambitious venture is Cronos ($CRO), the native token of Crypto.com's high-performance blockchain. Cronos is built for speed, scalability, and interoperability, serving as a foundation for:
DeFi (Decentralized Finance) applications
NFT marketplaces
The tokenization of real-world assets (RWA)
By betting so heavily on CRO, the partners are making a strong statement about their belief in the long-term utility and growth potential of the Cronos network as a pillar of next-generation financial infrastructure.
Lock-Ups and Long-Term Vision

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Demonstrating a commitment that goes beyond short-term speculation, the founding partners—Trump Media, Crypto.com, and Yorkville—have agreed to a one-year lock-up period on their founding shares and warrants. This will be followed by a gradual three-year release schedule.
This structure is designed to align their interests with the long-term health and success of the project, reassuring the market of their serious intent.
Devin Nunes, Chairman and CEO of Trump Media & Technology Group, stated, “We continue to be bullish on cryptocurrency, and we are excited to be partnering with Crypto.com and Yorkville for this strategic initiative.”
Echoing this sentiment, Kris Marszalek, CEO of Crypto.com, highlighted the sheer scale of the project, noting it encompasses "more than CRO’s entire current market cap, plus over $400 million in cash and a $5 billion facility to acquire more CRO."
Strategy: More Than Just Holding

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The new company's plan extends far beyond simply holding a vast amount of CRO. It intends to become an active validator on the Cronos blockchain. This means:
Supporting Network Security: By running a validator node, the company will help process transactions and secure the network.
Earning Staking Rewards: It will earn rewards for its validating work, which it plans to reinvest to grow its CRO holdings organically over time.
Participating in Governance: As a major validator, it will have a voice in the future development and direction of the Cronos ecosystem.
This active participation strategy transforms the entity from a passive treasury into a fundamental, integrated player in the network's growth.
The transaction is being advised by Clear Street as the exclusive capital markets adviser, with legal counsel from top firms DLA Piper LLP and Skadden, Arps, Slate, Meagher & Flom LLP. The new company expects to list on the Nasdaq under the ticker symbol “MCGA” once the deal is finalized.

By 100%
- August 26, 2025

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The Vanilla Drainer Scam: How a New Cyber Threat Stole $5M+ in Weeks

A new and highly effective crypto-draining service known as Vanilla Drainer has stormed onto the dark web scene, orchestrating thefts exceeding $5.27 million in just a three-week period. This sophisticated operation highlights a worrying evolution in digital asset scams, proving that cybercriminals are continuously refining their methods to bypass security measures.
Understanding the "Drainer" Threat

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So, what exactly is a "drainer"? In simple terms, it's a malicious software kit sold to fraudsters on the dark web. These kits are designed to create convincing phishing websites that, when connected to a user's crypto wallet, can secretly authorize transactions, draining all their assets in seconds. Vanilla Drainer is the latest iteration of this threat, quickly gaining notoriety for its effectiveness and ability to fly under the radar.
Vanilla Drainer's Rapid and Costly Rise

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While the overall volume of crypto-draining scams has decreased since its peak in 2024—where nearly $500 million was stolen—new services like Vanilla are making a significant impact. According to blockchain investigator Darkbit, this particular drainer is quickly absorbing the user base of older services like Inferno Drainer and is responsible for a string of recent high-value thefts.
One of the most devastating single events occurred on August 5, where a single victim lost a staggering $3.09 million in stablecoins. For providing the tools, the operators of Vanilla Drainer took a cut of approximately $463,000 from this heist alone.
How the Scam Works: Bypassing Security and Cashing Out

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Vanilla Drainer markets itself with a bold claim: the ability to bypass advanced security platforms like Blockaid. This is a key selling point for cybercriminals, as improved fraud detection has been a major hurdle for them.
The financial arrangement is standard for the underground market: the creators of the drainer take a 20% commission on all successfully stolen funds. After taking their cut, the stolen tokens are typically converted into a blockchain's native currency (like Ethereum - ETH) or into Dai (DAI), a decentralized stablecoin that is much harder to trace and freeze compared to centralized alternatives like USDT or USDC. The fees are then funneled to a final wallet, which, at the time of the report, held over $2.23 million.
A Disturbing Trend: Phishing Scams Are on the Rebound

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The success of Vanilla Drainer is part of a larger, alarming trend. After a period of decline, phishing scams saw a massive rebound in July, with stolen amounts skyrocketing by 153% from the previous month to a total of $7.09 million. The number of individual victims also rose by 56%.
To evade detection, Vanilla and similar services have adopted agile new tactics. As Darkbit notes, they are now "cycling through domains" and generating fresh malicious contracts for every phishing site, making it incredibly difficult for security systems to blacklist them effectively.
The Eternal Game of Whack-a-Mole: Shut Down, But Never Gone

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Perhaps the most frustrating aspect for investigators is the resilient nature of these drainer services. A public "shutdown" is rarely the end. A prime example is Inferno Drainer, which announced its retirement in late 2023 only to have its operations and tools resurface throughout 2024 and into 2025, being linked to over $9 million in losses in a six-month span.
Vanilla Drainer's rapid growth and Inferno's persistence demonstrate a clear pattern: these criminal services don't die; they adapt, rebrand, and transfer ownership. The fight against them is a continuous cat-and-mouse game, requiring constant vigilance from both investors and security professionals.

By 100%
- August 25, 2025

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article Inside a Counter-Hack on North Korean IT Workers: What Was Discovered

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Overview
A North Korean IT group, operating under at least 31 fake identities, has been tied to the $680,000 hack of the fan-token marketplace Favrr in June 2025.
Leaked screenshots from one of the workers’ devices revealed how the team infiltrated crypto projects — using Google services, rented computers, VPNs, and freelance platforms to mask their true identities.
The findings were first made public by blockchain investigator ZachXTB, who shared details from a source that managed to compromise one of the hackers’ machines.

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What the Counter-Hack Revealed
A team of just six North Korean operatives managed to control at least 31 fake personas.
They acquired forged IDs, phone numbers, LinkedIn and UpWork accounts to pose as international developers.
Some even faked job interviews with big firms — one tried to land a full-stack role at Polygon Labs, while others claimed fake past work experience at OpenSea and Chainlink.
Pre-written interview scripts were found on their devices, showing carefully staged answers.
🛠 Tools & Tactics Used

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Google Workspace – Managed schedules, budgets, and communications.

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Google Translate – Korean-to-English translations for chats with employers.

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AnyDesk & other remote tools – Allowed them to secretly complete tasks for unsuspecting firms.
🛡 VPNs – Hid their true locations while working. A leaked spreadsheet showed they spent $1,489.80 in May on operational costs, including accounts, tools, and proxies.

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The $680,000 Crypto Heist
Evidence connected one of their wallets (0x78e1a) directly to the Favrr exploit, which drained $680,000 in June 2025.
In fact, these workers frequently use Payoneer to move money from fiat into crypto, making tracking more difficult.
At the time, ZachXBT suggested that Favrr’s chief technology officer “Alex Hong” and other developers were North Korean operatives in disguise.

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What They Were Researching
Interestingly, the data also showed their learning interests:
Could ERC-20 tokens be launched on Solana?
Who are the leading AI companies in Europe?
This suggests they are constantly probing new technologies to expand their tactics.

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Why Companies Need to Be Careful
ZachXBT emphasized that crypto and tech firms must do more due diligence when hiring.
Many of these infiltrations are not highly sophisticated.
The problem arises because of the sheer number of job applications, making vetting harder.
Lack of cooperation between tech companies and freelance platforms creates gaps for these actors to slip through.
Just last month, the US Treasury sanctioned two individuals and four entities tied to this North Korean IT worker network.

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Key Takeaways for Crypto Firms

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Always verify job applicants’ work history and credentials.

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Watch for suspicious overlaps in identities (same skills, different names).

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Strengthen collaboration with freelance platforms to spot fake accounts.

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Assume attackers are constantly adapting — from crypto protocols to AI.

By 100%
- August 17, 2025

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article Smart Ways to Earn Passive Crypto Income in 2025

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Key Insights
Crypto index funds and ETFs allow investors to gain exposure to multiple cryptocurrencies without constant trading.
Both centralized (broker-managed) and decentralized (DeFi-native) versions exist.
Potential income sources include price growth, staking rewards, DeFi yields, and covered call strategies.
Risks include market volatility, smart contract flaws, and management fees.

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Why Passive Crypto Income?
Not everyone wants to stare at charts 24/7. If you’d rather let your money grow without chasing every market move, passive investing is a solid option.
Much like traditional finance, crypto now offers index funds and exchange-traded funds (ETFs). These products give investors a diversified basket of cryptocurrencies — spreading risk while simplifying the process.
Thanks to innovations like tokenized ETFs and onchain index products, passive crypto investing has never been more accessible.

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What Are Crypto Index Funds and ETFs?

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Crypto Index Funds
Pool together top cryptocurrencies (often top 10–20 by market cap).
Rebalanced regularly to reflect market shifts.
Work similarly to mutual funds, but in the crypto world.

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Types:
Centralized: Run by professional firms. Focus on growth or covered call income.
Decentralized (onchain): Governed by smart contracts and DAOs. Can include staking and yield farming rewards.

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Crypto ETFs
Traded on traditional stock exchanges (like NYSE or Nasdaq).
Mirror either a single cryptocurrency (e.g., Bitcoin) or a basket of assets.
Investors can buy/sell shares just like regular stocks via their brokerage account.

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Example: ProShares Bitcoin Strategy ETF (BITO) focuses on Bitcoin futures, while Harvest Portfolio’s ETFs use covered call strategies to generate extra yield.

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How Do They Generate Passive Income?
Index funds & ETFs can provide income through:

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Asset growth (e.g., BTC, ETH, SOL appreciation).

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Staking rewards (if PoS coins are included).

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DeFi yields (for onchain products).

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Monthly income payouts (some ETFs distribute cash flow).

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Real Examples of Passive Crypto Funds in 2025

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Crypto Index Funds
Bitwise 10 (BITW): Tracks the top 10 cryptocurrencies, rebalanced monthly. Accessible via traditional brokerages.
TokenSets (DeFi Pulse Index & Metaverse Index): 100% decentralized, fully onchain, managed by smart contracts. Holders can stake for extra yield.
Nasdaq Crypto Index (NCI): Tracks a wide range of cryptos with heavy Bitcoin weighting.

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Crypto ETFs
BITO (ProShares Bitcoin Strategy ETF): Futures-based Bitcoin exposure in US markets.
Purpose Bitcoin Yield ETF (BTCY): Canadian ETF combining BTC exposure with covered calls for monthly income.
Harvest Bitcoin & Ethereum Enhanced Income ETF (HBEE): Generates yield via covered calls on BTC & ETH.
🛠 How to Invest?
Centralized route: Use brokers (for ETFs) or crypto exchanges (like Coinbase, Binance, Bitwise).
Decentralized route: Connect a Web3 wallet (e.g., MetaMask) to platforms like Index Coop or TokenSets.

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Risks to Remember

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Volatility: Prices swing wildly.
🛠 Smart contract bugs: Especially in DeFi.

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Management fees: Some charge 1–2% yearly.

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Tracking errors: Funds may not perfectly mirror markets.

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Always check: fund composition, rebalance rules, and income strategy before investing.

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Tax Considerations

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In the US, ETFs = taxed like stocks (capital gains).
Tokenized funds = taxed like crypto assets.
Staking rewards = often taxed as income.

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Always seek professional tax advice, especially with DeFi investments.

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Final Thoughts – Is It Worth It?
If you believe in crypto’s long-term growth but don’t want to manage trades daily, index funds and ETFs are a great middle ground.
They bring together:

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Diversification

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Yield opportunities

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Less stress
As DeFi and TradFi continue to merge, passive crypto investing is becoming mainstream. Whether through regulated ETFs or onchain index tokens, your portfolio can now quietly work for you in the background.
So sit back, stake, and let your crypto earn while you sleep.

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By 100%
- August 17, 2025

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analysis Cloud Mining vs Staking in 2025: Which Path Brings Better Crypto Rewards?

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Introduction
In 2025, cloud mining and crypto staking are two of the most talked-about methods of generating passive income in the digital asset world. While often mentioned together, they are fundamentally different approaches:
Cloud mining means renting remote computing power for Bitcoin (or other crypto) mining.
Staking involves locking tokens into a proof-of-stake (PoS) blockchain to help secure the network and earn rewards.
Both can be profitable, but they come with very different levels of risk, cost, and sustainability. Let’s dive deeper.

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How Cloud Mining Works in 2025
Cloud mining allows investors to take part in Bitcoin or Ethereum mining without buying or maintaining expensive ASIC hardware.
Instead of setting up machines, you simply purchase a contract from a provider. Your share of the mining hash power generates crypto rewards — reduced by fees for energy and maintenance.
In 2025, leading platforms include:
MiningToken – Swiss-based, compliance-focused, using renewable energy and AI-driven allocation. Contracts can last as little as one day.
ECOS – Based in Armenia’s Free Economic Zone, offers a full suite of services: wallets, ROI calculators, and contracts starting at just $50.
NiceHash – A hash-power marketplace where users buy or sell computing power dynamically. Fees average around 3%.

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Typical returns: 5%–10% APR for Bitcoin cloud-mining contracts.

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But beware: high-risk offerings (often tied to XRP) advertise 100%–800% APR, which usually resemble Ponzi schemes rather than real mining operations.

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Eco-friendly mining farms powered by renewable energy are becoming more common, but cloud mining still faces criticism over centralization and environmental impact.

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How Staking Works in 2025
Proof-of-stake (PoS) has become one of the most popular passive income strategies. Token holders lock their crypto into a blockchain network to validate transactions and keep it secure.
Options include:
Running your own validator node (technical, higher entry).
Delegating tokens to trusted validators, earning rewards minus a small commission.

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Traditionally, staked tokens were locked for weeks, but liquid staking solutions (like Lido or Marinade) now provide derivative tokens (e.g., stETH, mSOL), which keep your assets liquid while still earning rewards.

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Staking yields in 2025:
Ethereum: ~3% APY
Solana: 6%–8%
Cardano: 4%–6%
Cosmos: up to 18% (typically ~6% via exchanges)
NEAR: 9%–11%
Compared to cloud mining, staking offers steadier returns. Risks include validator downtime, “slashing” penalties, and token price drops. However, the industry is far more mature now, with regulated staking providers offering custody, audits, and even insurance.

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Smaller PoS networks like Injective, SEI, or SUI offer double-digit rewards but come with higher volatility and lower liquidity.

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Profitability: Cloud Mining vs Staking
Here’s a quick comparison for 2025:
Cloud Mining
Returns: 5%–10% APR (legit providers)
Risks: Platform collapse, scams, environmental concerns
Liquidity: Locked until contract ends
Staking
Returns: 3%–11% APY depending on the chain
Risks: Token price swings, slashing, validator downtime
Liquidity: Delays with unbonding, though liquid staking offers flexibility

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XRP-linked cloud mining promises 100%–800% APR → extremely risky, often scams.

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Investor Profiles – Which Is Best for You?

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Beginners / Low-tech users
Cloud mining: Simple entry point (no hardware, no node setup). Typical 5%–10% APR.
Staking: Easy via exchanges or liquid staking. ~3% on ETH, ~7% on SOL.

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High-risk, high-reward seekers
Some chase speculative XRP cloud mining returns (not advised).
Safer bet: staking Cosmos, Polkadot, or NEAR with 15%–20% potential yields.

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Institutions & compliance-focused investors
Cloud mining lacks clear regulation and custody frameworks.
Staking wins here: providers now include audits, KYT/KYB checks, insured custody.

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Sustainability-minded investors
Cloud mining = energy-intensive, still criticized.
Staking = eco-friendly, aligns with ESG principles.

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Other Key Factors to Consider
Taxation: Rewards from both are usually taxed as income; later sales may trigger capital gains. In the UK, HMRC actively monitors exchange and mining data.
Market volatility: All payouts are in crypto — sharp swings can wipe out fiat gains.
Liquidity: Mining rewards are daily, but contracts tie up funds. Staking unbonding varies (except liquid staking, which offers faster exits).
Reliability: Look for audited, transparent providers with uptime guarantees. Reliable staking providers are becoming common; mining transparency remains rare.

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Fun fact: On Cosmos, delegators can “redelegate” without waiting through an unbonding period — switching validators instantly without losing rewards.

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Conclusion
The decision between staking vs mining in 2025 depends on your profile:
Conservative users may prefer staking for its stability and eco-friendly nature.
Adventurous investors might explore cloud mining but should beware of unrealistic ROI promises.
Institutions are leaning toward staking due to compliance, audits, and custody solutions.
Ultimately, staking is emerging as the sustainable, regulated future of passive crypto income, while cloud mining remains attractive only in specific, well-audited setups.

By 100%
- August 17, 2025

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article CrediX Strikes Deal: $4.5M in Stolen Crypto Recovered

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What Happened?
Crypto lending and money market protocol CrediX has announced the recovery of $4.5 million worth of digital assets that were stolen in a recent exploit. The breakthrough came after the team reached a private agreement with the hacker responsible for the breach.
According to blockchain security company Cyvers, the exploit occurred on Monday, when the attacker used a Tornado Cash–funded wallet to bridge the stolen funds onto the Ethereum network.

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Settlement With the Exploiter
In a rather unexpected twist, CrediX revealed that it negotiated directly with the attacker, who agreed to return the stolen funds. In exchange, the exploiter reportedly received a confidential payout from the project’s treasury.

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The team also confirmed that the recovered assets will be distributed back to all affected users via airdrop within 48 hours.

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Crypto Hacks in 2025 – A Growing Trend
The CrediX incident adds to a growing list of major hacks this year. Blockchain intelligence firm CertiK reported that losses from exploits, scams, and hacks have already surpassed $2.47 billion in the first half of 2025.
In Q2 alone, $800 million was lost across 144 separate incidents, although that was a 52% drop compared to Q1.

Unfortunately, most projects never recover fully after such breaches. Research by Immunefi shows that nearly 80% of cryptocurrencies fail to regain their market value following a hack, which often causes more lasting damage than the theft itself.

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Notable Cases
July 2025: Another hacker returned $40M stolen from the GMX exploit after negotiating a $5M white-hat bounty.
May 2024: A thief surrendered $71M from a wallet poisoning scam under pressure from investigators.
SlowMist even tracked the CrediX attacker’s IP addresses to Hong Kong, which might have played a role in their decision to give up the funds.

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Hackers Targeting Banks Too
The threat isn’t limited to crypto. On July 5, 2025, Brazilian banking service provider C&M Software was hacked for $140M, affecting six connected financial institutions.
Reports suggest that a C&M employee sold their login credentials for just $2,700, giving the hacker direct access to central bank systems and reserve accounts.

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Final Thoughts
The CrediX case shows that while hacks remain a massive problem in 2025, negotiated settlements may sometimes offer a path to partial recovery for victims. Still, relying on attackers’ goodwill is far from a sustainable solution — the crypto industry urgently needs stronger security measures to protect users and funds.

By 100%
- August 17, 2025

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article The $3.5B Bitcoin Mega-Heist That Stayed Hidden for Years

In a shocking revelation, blockchain intelligence firm Arkham has retroactively uncovered what is now recognized as the largest cryptocurrency theft in history. The massive hack, which occurred in 2020, went unnoticed publicly for years — neither the victims nor the hackers ever disclosed it.

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The Hidden Hack
According to Arkham’s latest findings, the Chinese mining pool LuBian was targeted on December 28, 2020, when hackers successfully drained 127,426 Bitcoin (BTC) — worth roughly $3.5 billion at the time.
To put this into perspective: the stolen sum represented about 90% of LuBian’s total BTC holdings. The mining pool managed to salvage only 11,886 BTC by moving it into recovery wallets.
Despite the staggering scale of the theft, the incident was never reported publicly. Arkham’s research team only revealed it recently in their investigation.

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How the Hack Worked
In a rather unusual move, LuBian later sent 1,516 on-chain OP_RETURN messages to addresses linked with the hacker. These embedded notes cost the pool approximately 1.4 BTC in transaction fees.
Arkham analysts believe that the breach stemmed from LuBian’s flawed private key generation system:

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Today, those stolen Bitcoin would be worth an eye-watering $14.5 billion — underscoring how critical robust cryptographic security and safe key management are for crypto holders.

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Bigger Than ByBit and Other Notorious Hacks
Until now, the February ByBit hack — which resulted in a $1.5 billion loss — had been considered the largest crypto attack in history. According to cybersecurity firm Mandiant, that breach was caused by malware on a developer’s computer, which gave attackers unauthorized access through stolen AWS tokens.
Other major incidents include:

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In April 2025, a senior individual was scammed into losing $330 million in BTC via a social engineering scheme. The funds were laundered through 300 different wallets, though only $7 million was frozen immediately. The ByBit case and other well-known hacks now pale in comparison to the scale of LuBian’s loss.

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What This Means for Crypto Security
The LuBian hack serves as a harsh reminder for everyone in the crypto ecosystem:
Always use strong, verifiable random number generators for private key creation.
Never rely on outdated algorithms that may be brute-forced.
Adopt multi-layered security strategies including hardware wallets, air-gapped systems, and ongoing audits.
As the value of stolen funds continues to rise, so does the sophistication of attacks. This incident highlights that even industry giants can fall victim when cryptographic foundations are weak.

By 100%
- August 16, 2025

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article TikTok Star Jailed for Helping North Korea Infiltrate U.S. Tech Sector via Sanctions-Busting ‘Laptop Farm’

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Overview
A once-popular TikTok influencer, Christina Marie Chapman, has been sentenced to 8.5 years in prison for her role in a sophisticated North Korean cyber scheme. Her actions helped hundreds of North Korean IT operatives pose as U.S. workers, securing jobs in American tech firms and funneling money to the DPRK’s weapons program.
The charges? Wire fraud conspiracy, aggravated identity theft, and money laundering.

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Key Sentence & Penalties
Besides serving time behind bars, Chapman must:

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Forfeit over $284,000

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Pay restitution of $176,850

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Complete 3 years of supervised release after her prison term

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Inside the “Laptop Farm” Operation
Prosecutors revealed that Chapman operated a covert "laptop farm"—a hub of U.S.-based laptops in her Arizona home used by North Korean IT agents to remotely access American corporate systems.
Between 2020 and her arrest, she helped over 300 operatives secure remote jobs at U.S. companies, including:
A Fortune 500 tech giant
A major U.S. television network
A top aerospace contractor
Her home essentially became the digital front for a state-sponsored infiltration network.

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“Even an adversary as sophisticated as North Korea can't succeed without help from U.S. citizens like Christina Chapman,” said FBI Assistant Director Roman Rozhavsky.

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From Arizona to Asia: How the Scheme Worked

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Key tactics included:
Setting up U.S.-based internet connections for operatives
Using personal bank accounts to launder wages
Shipping laptops overseas, including to a city near the North Korean border in China
Spoofing IPs and hiring actors to appear in job interviews on behalf of DPRK workers

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U.S. authorities seized over 90 laptops from her home and discovered she shipped at least 49 more abroad.
North Korean operatives reportedly used stolen or borrowed American identities to file fake employment records and mislead IRS and Social Security systems.

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Crypto Still in DPRK’s Crosshairs

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The cryptocurrency world remains a central target of North Korean cyber activity.

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In 2024 alone, hackers tied to North Korea stole an estimated $1.34 billion in crypto

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This marks a 21% increase from 2023, according to Chainalysis

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Cybersecurity experts say the regime’s job seekers are getting more advanced—often hiring European actors for video interviews while hiding their real locations using VPNs and proxy servers.

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DPRK’s Cybercrime Footprint Expands
North Korea’s digital fingerprints have shown up in numerous major crypto hacks, including:

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Bybit

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Ronin Bridge

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Harmony

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Several DeFi protocols

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Global Crackdown Intensifies

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Authorities around the world are pushing back:
The U.S. Department of Justice recently filed to seize over $7.7 million in digital assets tied to DPRK IT workers inside blockchain companies
In 2023, the U.S. and South Korea signed a joint cybersecurity agreement to improve detection of North Korean cyber operations

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In April, cybercriminals linked to Lazarus Group reportedly created shell companies in the U.S. to distribute malware-laced tools to unsuspecting crypto developers.

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Even Kraken Was Targeted
Crypto exchange Kraken recently blocked an application from a suspected North Korean agent posing as a potential hire—proving the front-line risks faced by firms in the crypto and tech sectors.

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Takeaways:

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North Korea continues to weaponize tech jobs and crypto to bypass sanctions

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A TikTok influencer turned cyber-assistant shows how social media fame can turn dangerous

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DPRK job seekers are using elaborate digital disguises and Western proxies

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The U.S. is aggressively countering cyber threats with seizures, partnerships, and prosecutions

By 100%
- July 27, 2025

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article Pump.fun Under Fire: $5.5B Lawsuit Claims Solana Meme Platform Is an “Unlicensed Casino”

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Explosive Accusations Rock the Meme Coin World
The Solana-based token-launch platform Pump.fun has landed in legal hot water, with a sweeping class action lawsuit filed in the Southern District of New York. Plaintiffs claim that the platform operates as an unlicensed, crypto-fueled casino, disguising speculative gambling as meme coin investing.

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Estimated damages range between $4 billion and $5.5 billion, while Pump.fun is reported to have generated over $722 million in revenue—largely from user losses.

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"Pump Empire" or Coordinated Crime Syndicate?
The lawsuit names Baton Corporation—Pump.fun’s operator—along with its founders Alon Cohen, Dylan Kerler, and Noah Bernhard Hugo Tweedale, and executives from Solana Labs, the Solana Foundation, and Jito Labs.

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Plaintiffs Diego Aguilar, Kendall Carnahan, and Michael Okafor accuse them of forming a “Pump Enterprise,” allegedly operating as a racketeering organization under the RICO Act.

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According to the complaint, Pump.fun acts like a slot machine in disguise, allowing users to deposit SOL tokens for unpredictable returns, with no KYC (Know Your Customer) or age verification in place—effectively making it accessible to minors.

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Rigged Odds and Questionable Practices

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Jito Labs is accused of "rigging the game" by prioritizing lucrative transactions and bundling them using Maximal Extractable Value (MEV) strategies—effectively giving high bidders preferential treatment.

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Solana Labs and the Solana Foundation are said to enable this system by providing blockchain infrastructure and profiting from validator fees and block space sales tied to each trade.

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The lawsuit also calls out the “fair launch” narrative as a smokescreen, alleging that insiders could front-run new tokens via Jito’s backdoor access.

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In addition, some meme tokens are accused of violating intellectual property laws by mimicking major brands (e.g., Apple, Tesla, Meta) and celebrity names without permission.

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Shockingly, North Korean cybercriminal group Lazarus is also mentioned, allegedly laundering $1.08 million through the platform.

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Platform Profit Built on User Losses
Reports show that since May 2024, Pump.fun has earned around $741 million in fees, offloading over 4.1 million SOL tokens through Kraken Exchange.

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A staggering 99.6% of users—from a pool of 13.55 million trader addresses—failed to earn more than $10,000 in profits.

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The platform takes a 1% fee on every trade, recently adding a 0.05% profit-sharing feature for token creators. Despite this, users continue to bear the brunt of losses.

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In 2024 alone, Pump.fun pulled in over $400 million in trading fees, while Jito Labs reportedly collected $633 million in user tips, becoming one of Solana’s top profit-generators.

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Jito also operates the “Jito-Solana Block Engine,” selling priority transaction slots and capturing MEV for stakers.

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As Solana's value soared over 1,000% from 2022 to late 2024, Solana Labs and the Solana Foundation—who hold massive SOL reserves—reaped significant rewards from heightened activity.

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Unregistered Securities & User Losses
The lawsuit identifies 20 tokens, including StakeCoin, QuStream, DeepCore AI, and Apex AI, as unregistered securities.
These tokens were allegedly marketed with promises of real-world use and future value, but without SEC registration or proper disclosure of investment risks.

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Lead plaintiff Michael Okafor says he lost $242,076 on tokens that later collapsed.

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Despite daily launches of 27,000+ tokens, most are considered low-value and high-risk—a formula that keeps the house winning while retail investors lose.

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PUMP Token’s Disastrous Launch
In July 2025, Pump.fun introduced its native token $PUMP, which quickly crashed by 30% within 24 hours, from a peak of $0.0072 to $0.005.

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The drop was largely attributed to whale shorting and weak retail confidence.

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Within days, $PUMP sank to $0.0031, as early investors dumped their holdings, resulting in collective losses exceeding $1 million.

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Founder Alon Cohen’s announcement that no airdrop was planned only worsened sentiment, causing a 14% drop in a single day.

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Social Media Suspensions & Rising Competition
In June 2025, X (formerly Twitter) suspended both Pump.fun’s official account and Cohen’s personal account, sparking rumors of upcoming SEC investigations.

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The platform also faces multiple suits accusing it of illegally selling unregistered securities disguised as meme coins.
Meanwhile, competitor LetsBonk has captured 44.87% of daily meme coin activity, slightly edging out Pump.fun's 43.73% share.

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Legal Remedies Sought by Plaintiffs
Plaintiffs are pushing for:

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Class action certification

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Compensatory and treble damages under RICO laws

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Appointment of a federal equity receiver

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A permanent ban on defendants running similar platforms without licenses or compliance systems

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TL;DR Key Points

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$5.5B class action filed against Pump.fun

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Accused of operating a “meme coin casino” without oversight

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Jito Labs allegedly manipulated transactions

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Solana-based ecosystem profited despite user losses

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Platform failed to verify user age or identity

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Native token crashed 50% shortly after launch

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Suspensions hint at regulatory trouble

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Lawsuit demands strict penalties and oversight

By 100%
- July 27, 2025

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article Britcoin on the Brink: Bank of England Rethinks Digital Pound Plans Amid Backlash

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Overview
After spending over £24 million and reviewing more than 50,000 public comments, the Bank of England (BoE) is seriously reconsidering its plans to launch a central bank digital currency (CBDC)—commonly dubbed "Britcoin". Mounting concerns over privacy, practicality, and necessity are reshaping the project's future.

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Why the Digital Pound Might Be Scrapped
The idea of a state-backed digital currency was once seen as a modern leap into the future of payments. However, the BoE is now exploring whether enhancing existing banking technology might be a better path forward.

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Governor Andrew Bailey recently told Parliament that unless the private banking sector fails to innovate, there may be no real need for a CBDC.

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Despite years of investment, Bailey remains skeptical about the benefits of a digital pound for everyday users.

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Instead, he favors tokenized bank deposits—a digital version of regular deposits—over creating an entirely new form of money.

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Public & Political Pushback
Public opinion has played a key role in stalling the project:

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Over 50,000 people submitted responses during the public consultation phase.

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A significant number raised concerns about government surveillance and loss of privacy in financial transactions.

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Politicians, privacy advocates, and even conspiracy theorists voiced fears of a cashless society that could be tightly monitored.

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Dwindling Enthusiasm Worldwide
The UK isn’t the only country rethinking digital currencies:

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In the US, the Trump-era GENIUS Act has blocked further work on CBDCs.

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South Korea recently halted its digital won pilot.

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Only the European Central Bank still aggressively pursues its digital euro.
This trend signals a global shift in sentiment, with many central banks now prioritizing regulation and innovation in the private financial sector.

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"A White Elephant" or the Future of Money?
Former BoE economist Neil Record has been openly critical, calling the digital pound a "white elephant" that serves institutional interests rather than those of the general public.

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Consider the stats:
In 2013, cash was used in 51% of transactions.
By 2023, that number dropped to just 12%.
The Bank’s revenue, partially dependent on cash holdings, is under pressure.
However, critics argue that a digital pound isn’t the solution:

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Commercial banks already offer fast, secure, and interest-bearing digital services.

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The digital pound wouldn’t offer interest and might destabilize the financial sector in times of crisis.

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Lord Forsyth slammed it as "a solution in search of a problem."

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What About Stablecoins?
While Britcoin may be on hold, stablecoins are rising—and they’re causing alarm too.
Governor Bailey warns that private stablecoins could:

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Undermine sovereign monetary control

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Fragment financial systems

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Lack proper regulatory oversight

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That’s why the BoE prefers regulated tokenized deposits, which fit more naturally into the current banking system.

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Upcoming Regulations

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UK banks will soon face restrictions, allowing only 1% of their investments in crypto by 2026—a move aligned with Basel Committee standards.

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The Financial Conduct Authority (FCA) is also rolling out a "gateway regime" to license crypto firms and regulate digital asset custody.

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The stablecoin market nearly doubled in two years—from $125B to $255B—making oversight more urgent.

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Looking Forward: Innovation Over Reinvention
The Bank of England now seems to favor supporting private payment technologies rather than introducing a new currency.

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Digital currency isn't off the table forever, but launching one would now require significant justification and public support.
For now, Britcoin may just remain an experiment in the archives of financial evolution.

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Summary of Key Takeaways

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BoE rethinks CBDC after £24M and 50K consultations

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Governor favors private-sector innovation

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Public backlash centers on privacy

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UK tightening crypto regulations

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Stablecoins seen as riskier without controls

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Britcoin no longer seen as essential

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EU remains the last CBDC heavyweight

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BoE could revive the project—but it’s not likely anytime soon

By 100%
- July 27, 2025

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article California Man's Mysterious Disappearance Tied to Crypto Fortune?

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74-Year-Old Missing in Suspected Crypto-Linked Kidnapping
Authorities in San Bernardino County, California, are deeply concerned over the sudden and unexplained disappearance of 74-year-old Naiping Hou, a case now suspected to be connected to his family’s cryptocurrency fortune.
Hou left his home without his phone one Monday morning in early May and never returned. A few days later, his silver Toyota Yaris was found abandoned near a hiking trail in Rancho Cucamonga. On May 4th, Hou was officially reported missing.

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Investigation Uncovers Fraud & Suspicious Activity
By July 7th, the San Bernardino Sheriff’s Specialized Investigations Division confirmed they were treating the case as highly suspicious, after discovering serious fraudulent activity tied to Hou’s financial accounts. Investigators revealed that someone had been using Hou’s phone and posing as him to communicate with his family, raising fears that this disappearance may involve kidnapping.
No suspects have been officially named so far, but authorities aren’t ruling out the possibility of foul play.

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Family Suspects Financial Motive
Hou’s son, Wen Hou, a successful investor who has been the Chief Investment Officer at Coincident Capital since 2019, believes that the motive behind his father’s disappearance is linked to their crypto assets. Wen has publicly offered a $250,000 reward for any credible information that leads to his father’s safe return.

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Experts warn this case reflects a growing global trend: physical threats targeting individuals known to hold substantial cryptocurrency assets.
Law enforcement and federal agencies are increasingly relying on blockchain analytics tools to trace funds in these kinds of crimes.

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Rising Trend of Crypto-Related Violence in 2025
2025 has seen a record surge in violent crimes against crypto holders, commonly known as “wrench attacks.” These crimes typically involve coercion, kidnapping, or violence against victims to extract access to digital wallets.
According to Chainalysis, there have already been 35 reported incidents globally by July 2025, marking a sharp rise compared to previous years.
The Asia-Pacific region—particularly Japan, Indonesia, and the Philippines—has seen some of the worst violence, with kidnappings and extortion cases on the rise, driven by Bitcoin’s price surge past $122,000.

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Billions Stolen — Targets Shift to Individuals
So far this year, criminals have stolen over $2.17 billion in cryptocurrency worldwide, already surpassing the entire total for 2024. Attacks on personal wallets now make up nearly 25% of all funds stolen.
Chainalysis data shows that retail wallet owners — everyday individuals, not large institutions — are the most frequent targets. Victims from the U.S., Germany, and Japan report the highest number of incidents, while India, Chile, and the UAE suffer the largest financial losses per case.
With crypto exchanges bolstering their security, attackers are now targeting wealthy individuals who store large sums in private wallets, often lacking the same levels of protection.

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AI Fuels a New Wave of Threats
Advanced AI tools are making it easier for criminals to identify and manipulate victims, often through phishing schemes and impersonation tactics. Both Chainalysis and CertiK highlight how these technologies are enhancing criminal strategies.
According to CertiK, in just the first half of 2025 alone, crypto users lost approximately $2.2 billion, with wallet breaches accounting for $1.7 billion of these losses.

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Summary: The Human Cost of Digital Wealth
This case — and the broader rising trend of crypto-related physical crimes — highlights a sobering reality: Digital wealth comes with very real, physical risks. As crypto adoption grows, so does the danger for those tied to these assets.

By 100%
- July 22, 2025

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article Bitcoin Faces a Quantum Threat: The Countdown Has Already Started!

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Quantum Computers Could Break Bitcoin Sooner Than Expected
The world of cryptocurrency may be sleepwalking toward a catastrophic security crisis, according to David Carvalho, CEO of Naoris Protocol and a former ethical hacker since the age of 13. He has issued a stark warning: Bitcoin’s vulnerability to quantum computing is no longer theoretical — it’s already unfolding.
Carvalho, now a leader in post-quantum cybersecurity, says quantum technology could shatter Bitcoin’s encryption protections in just a few years, not decades. Behind the scenes, governments and major tech corporations are already harvesting encrypted blockchain data today, intending to decrypt it later once quantum computing reaches maturity.

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Why Bitcoin Is at Risk from Quantum Tech
Unlike traditional computers, which operate on binary bits (0 or 1), quantum computers use "qubits". These qubits can hold multiple states at once through a principle called superposition. This ability allows quantum machines to perform calculations at speeds impossible for classical computers, especially when tackling complex mathematical puzzles like large number factorization.
Bitcoin’s security is rooted in Elliptic Curve Cryptography (ECC) — specifically the Elliptic Curve Digital Signature Algorithm (ECDSA) — which relies on the difficulty of reverse-engineering private keys from public keys. For classical computers, this task would take billions of years.
However, in 1999, mathematician Peter Shor proved that quantum algorithms could solve these problems exponentially faster. Shor’s Algorithm threatens to undo the foundational cryptographic protections behind Bitcoin wallets, making it possible to extract private keys from public addresses.

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The Clock Is Already Ticking
Carvalho warns that the quantum arms race has begun in silence. Cyber adversaries are gathering blockchain data now, using a strategy known as “harvest now, decrypt later.” They aren’t aiming to crack the encryption today, but rather stockpiling data for when quantum machines are powerful enough to exploit it.

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How Is Bitcoin Exposed?
Roughly 30% of Bitcoin’s total supply (6-7 million BTC) remains parked in older wallet formats that leave public keys vulnerable to quantum attacks.
Types of Risky Wallets:

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Pay-to-Public-Key (P2PK): Public keys are fully exposed, making these the most immediate targets.

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Pay-to-Pubkey-Hash (P2PKH): These only reveal public keys after the funds are moved — but once exposed, they become targets as well.
Older wallets and inactive addresses pose the highest risk, while miners and nodes could eventually become targets as quantum tech advances.

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What Are Experts Doing?
Since 2022, organizations like NIST have issued warnings about transitioning to quantum-resistant algorithms. Meanwhile, tech giants such as IBM, Google, and Microsoft are racing to build quantum computers with millions of qubits — a milestone some experts believe could arrive before 2030.
This looming threat isn’t confined to Bitcoin alone. As Carvalho notes, AI and quantum computing combined could scan blockchains for weaknesses, automating attacks at an unprecedented scale.

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The Financial Sector Is Paying Attention
Financial institutions are slowly recognizing the looming danger:

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BlackRock has referenced quantum risks in its Bitcoin ETF filings.

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Tether CEO Paolo Ardoino has voiced concerns about dormant wallets being especially exposed to future quantum hacks.
Estimates for when quantum computers could break Bitcoin’s cryptography range from 2027 to the mid-2030s.

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Can Bitcoin Adapt Before It's Too Late?
The key question remains: Can Bitcoin evolve quickly enough to survive this next technological wave? Or will quantum-resistant blockchains eventually lead the charge in securing the digital financial world?
The threat is clear. Preparation is no longer optional.

By 100%
- July 22, 2025

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article Massive $44M CoinDCX Hack Traced to North Korean Lazarus Group

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What Happened?
On July 19th, Indian cryptocurrency exchange CoinDCX fell victim to a devastating cyberattack, with hackers making off with a staggering $44 million. Although the exchange quickly confirmed the incident, they assured users that personal funds remain safe and unaffected.
According to cybersecurity specialists at Cyvers, all signs point to the North Korean Lazarus Group—a notorious hacking syndicate with a long history of targeting crypto platforms. Interestingly, this exploit followed an almost identical pattern to last year's WazirX hack, which occurred on the very same date and resulted in $234 million being siphoned off through dubious transactions.

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How Did It Happen So Fast?
Experts highlighted the speed, precision, and sophistication behind this breach as deeply concerning. The hackers orchestrated their attack meticulously, beginning with a small-scale test transaction of 1 USDT on July 16th.
Just days later, within a window of merely five minutes, they managed to drain $44 million in USDT through seven rapid-fire transactions. The funds were extracted from one of CoinDCX’s operational wallets on the Solana blockchain.

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Interesting Note:
The stolen assets included approximately $44.2 million in USDC/USDT.

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A Pattern of Attacks on Indian Exchanges
The Cyvers team was quick to draw parallels between the CoinDCX breach and the previous WazirX hack, emphasizing that these aren't random coincidences but calculated moves targeting India’s top crypto exchanges.

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The Lazarus Group’s Signature
This attack bears all the hallmarks of the Lazarus Group:

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Coordinated test transactions

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Lightning-fast execution

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Cross-chain expertise
They’ve made headlines before with high-profile breaches, and this latest incident only reinforces the need for heightened security across the crypto industry.

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CoinDCX Responds with Bounty Program
In a bid to recover the stolen assets, CoinDCX launched a recovery bounty initiative. The platform is offering up to 25% of any recovered funds as a reward to individuals or teams who can successfully help track and retrieve the stolen crypto.
CoinDCX CEO Sumit Gupta voiced his determination on X (formerly Twitter):

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Depending on the outcome, the bounty could total as much as $11 million.

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Key Takeaways
Hack Amount: $44.2M stolen in USDC/USDT
Timeframe: Funds stolen in 5 minutes
Blockchain: Solana
Suspected Group: North Korean Lazarus
Related Incidents: WazirX hack, same date last year

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Potential Lessons for the Industry

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Double down on cross-chain security audits

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Prepare for state-sponsored cyber threats

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Share intelligence across platforms to detect patterns sooner

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Educate users and teams on emerging exploits

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Final Thoughts
This breach underscores a troubling reality: no crypto exchange is too big or too prepared to be a target. Indian platforms, in particular, must recognize the strategic interest groups like Lazarus place on their markets.

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