U.S. Tourist in London Loses $123,000 in Crypto After Getting Into an 'Uber'

Festo Ivaibi, founder of Mitroplus Labs, was abducted in Uganda by armed individuals posing as security operatives, who forced him to transfer $500,000 in crypto to their controlled wallet. The incident is part of a series of coordinated attacks targeting crypto holders.

Coinbase disclosed a data breach affecting 69,461 customers, with personal and financial information stolen by a hacker who demanded a $20 million ransom. The breach, lasting from December 26, 2024, to recently, involved customer support workers being bribed for access to data.

A recent data breach at crypto exchange Coinbase affected 69,461 customers, according to a filing with the Office of Maine's Attorney General. Exposed data included names, dates of birth, and masked bank account numbers, though access to funds was not affected. The breach involved overseas support staff accessing customer data, prompting concerns about potential social engineering attacks.

The Iowa Supreme Court ruled that money deposited into a Bitcoin Depot ATM as part of scams must be returned to the company, not the victims, due to a contract between the victims and Bitcoin Depot. The victims were coerced into transferring Bitcoin worth $14,000 in separate incidents, leading to a legal battle.

Crypto.com has secured a MiFID licence, allowing the exchange to offer a variety of financial instruments, including securities, across Europe. This acquisition follows their previous MiCA licence, expanding their product offerings in the EEA.

In a recent speech, SEC Commissioner Hester Peirce stated that NFTs with royalty mechanisms may not be considered securities under federal laws. She clarified that NFTs allowing creators to earn resale revenue do not automatically qualify as securities, as they function similarly to streaming platforms compensating artists.

South Korea's Financial Services Commission (FSC) will allow nonprofits and crypto exchanges to sell their crypto holdings starting in June, following new rules to enhance oversight and operational flexibility. Nonprofits must meet strict conditions, including audited operations and vetting donations, while exchanges can only sell to raise capital with daily limits.

The Texas House of Representatives approved Senate Bill 21, doubling the required market capitalization period to 24 months. The bill aims to establish a state Bitcoin reserve managed by the comptroller as a strategic opportunity for fiscal resilience.

The Australian Securities and Investments Commission is seeking special leave from the High Court to appeal a ruling in favor of crypto firm Block Earner, aiming to clarify the treatment of interest-earning and asset conversion products under the Corporations Act.