CFA Report Pegs US Crypto Fraud Losses at $80.7B

Europol announced that a crackdown on cybercrime-as-a-service malware froze over $47 million in stolen crypto funds. Operation Endgame dismantled the infrastructure behind three malware families targeting crypto users, resulting in the recovery of stolen credentials and takedown of servers and domains.

Strategy's preferred stock costs have surged, leading to a record low for Stretch (STRC) and Bitcoin's 4% drop. Analysts suggest the firm should focus on cash reserves and halt Bitcoin purchases to regain market confidence.

Binance has withdrawn its MiCA license application in Greece after facing potential rejection by the HCMC. The firm plans to seek authorization in another EU Member State to comply with regulations.

Noman Saleem, a New York man, was sentenced to 15 months in prison for impersonating crypto influencers in a wire-fraud scheme. Saleem convinced victims to send crypto to his wallets by posing as popular influencers, ultimately taking in at least $1.4 million.

21Shares initially forecasted Bitcoin breaking its four-year cycle in 2026, but later acknowledged the cycle remains intact as Bitcoin dipped below $60,000. Despite this, the market structure has evolved with more institutional ETF ownership and a milder 50% drawdown from the all-time high.

A delegation of South Korean officials and digital asset stakeholders met with the SEC to discuss regulatory alignment and coordination on topics like stablecoin regulation and tokenized securities. The meeting highlighted the importance of U.S. regulatory clarity in shaping international frameworks for digital assets.

SecondFi, formerly Yoroi, fixed a vulnerability that led to the theft of 16 million ADA from 374 users in three attacks. Emergency measures were taken to prevent further losses, with affected users able to file claims for reimbursement. Cardano has plunged in price over the last month, falling out of the top 20 coins by market cap per data from CoinGecko.

Strategy's common shares, represented by MSTR, hit a more than two-year low price under $100 on Wednesday. The recent downward trend has seen a 20% decrease in the last week and over 38% in the past month.

Binance founder and former CEO Changpeng "CZ" Zhao, despite being the dominant shareholder, prefers a hands-off approach in running the global exchange and Binance.US. He said in an interview that he aims to increase liquidity in the U.S. market.

The Justice Department seized a cloud computing account linked to the Huione Group, accused of laundering billions from crypto investment fraud. The account facilitated moving and concealing funds for criminal activities, including operating an illicit online marketplace.