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The Consumer Federation of America reported that cryptocurrency scams and cybercrimes resulted in estimated losses of $80.7 billion, with investment fraud being the largest category at $8.6 billion. The FBI's complaint center recorded over 1 million complaints, totaling $20.9 billion in losses.
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The White House is demanding a retraction from ABC News for a report on Iran planning drone attacks on California, citing reliance on an unverified tip. Despite officials clarifying no imminent threat, the controversy highlights the public's fear of emerging drone technology in modern warfare.
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A crypto trader lost nearly the entire value of a $50 million transaction while attempting to buy AAVE tokens through Aave's decentralized finance protocol. The large order caused extraordinary slippage due to insufficient liquidity, resulting in a significant loss for the trader. Aave's founder stated that the incident highlights the need for stronger safeguards in decentralized finance platforms.
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A recent report by Ark Invest and Unchained suggests that quantum computing poses a future threat to Bitcoin's security, but current quantum systems are not advanced enough to compromise it. The report predicts a gradual progression in quantum development, giving time for Bitcoin to adapt.
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OP Labs, the team behind Ethereum's Optimism, is downsizing to streamline operations and decision-making, not due to financial issues. Ethereum co-founder Vitalik Buterin's recent comments on the role of layer-2 networks have influenced this strategic shift.
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Operation Lightning, led by European and U.S. authorities, targeted the "SocksEscort" service, seizing infrastructure and freezing $3.5 million in cryptocurrency. The investigation uncovered a botnet of infected devices used for criminal activities like ransomware and DDoS attacks.
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Bitcoin has shown a slight increase amid the Iran conflict, contrasting with struggling bonds and stocks. CoinShares' report highlights Bitcoin's 6-6.5% rise since the crisis began, emphasizing its significance in geopolitical turmoil.
bitcoinmagazine.com
Paraguay's DNIT has issued General Resolution No. 47/26, requiring detailed reporting on Bitcoin and crypto transactions exceeding $5,000 annually. The regulation aims to integrate cryptocurrencies into the national tax system and aligns with FATF recommendations to prevent money laundering and terrorism financing.
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JPMorgan Chase is facing a lawsuit for allegedly allowing a customer to conduct an alleged $328 million crypto fraud involving a fake liquidity pool scheme. The victim claims the bank should have detected and prevented the misconduct, as the accused CEO spent funds on personal expenses.
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The U.S. Senate passed a bill with a ban on developing an American CBDC, part of the 21st Century ROAD to Housing Act. The legislation still needs approval from the House before becoming law. President Trump may delay signing it until the SAVE Act is passed.
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Eightco's shares surged over 15% after securing $125 million for AI and blockchain expansion. BitMine, Ark Invest, and Kraken's parent company invested, with Tom Lee and Brett Winton joining the board. The firm also invested in OpenAI and MrBeast's company.