CFA Report Pegs US Crypto Fraud Losses at $80.7B

XRP ETFs are surpassing Bitcoin and Ethereum counterparts, with investors anticipating a surge due to macro tailwinds. XRP is expected to rise 65% towards its all-time high, driven by new Wall Street products and institutional demand.

Two South Korean police officers have been indicted for accepting bribes from illegal crypto exchange operators involved in money laundering. The officers provided investigative information and facilitated connections with other law enforcement personnel in exchange for payments, leading to their removal from their positions.

Monad's native token faced additional losses due to ongoing volatility since its launch three days ago. The token dropped 15% in 24 hours to $0.03, despite a 47% increase since its debut. Early holders may be taking profits, leading to a negative bid-ask delta indicator.

South Korean authorities suspect North Korea’s Lazarus Group in the Upbit breach, with Dunamu freezing affected wallets and moving remaining funds offline to reimburse customers. The abnormal withdrawals occurred from hot wallets, prompting an investigation and on-site probe at the exchange.

Interpol has recognized crypto-related fraud as a transnational criminal threat, involving human trafficking, online fraud, and coerced labor in scam centers across more than sixty countries. The criminal groups use advanced technologies to deceive victims and operate with a highly adaptive nature.

A Chrome extension named Crypto Copilot has been secretly adding hidden fees to Solana swaps, siphoning off a minimum of 0.0013 SOL or 0.05% of the trade amount to an attacker-controlled wallet. The extension, available on the Chrome Web Store, has been flagged for its deceptive behavior.

Bitcoin surged past $90,000 due to "improved risk sentiment," not a specific catalyst, according to QCP analysts, sustaining the move without major pullbacks. The bullish turnaround caught bears off guard, triggering significant short liquidations. The crypto market reflects broader financial market risk appetite, influenced by macro catalysts.

Upbit, South Korea's largest crypto exchange, reported a security incident involving a $36 million loss on the Solana network due to irregular withdrawals from a compromised hot-wallet address. The exchange is compensating affected assets and conducting a security review to prevent further breaches.

Australia's new legislation aims to regulate crypto exchanges and custody platforms, potentially unlocking $24 billion in annual productivity gains. The bill introduces financial product categories for digital asset and tokenized custody platforms, requiring operators to hold licenses and follow ASIC standards.

The World Federation of Exchanges, including NYSE and Cboe, has urged the SEC to reconsider special exemptions for crypto firms offering tokenized stocks. The federation expressed concerns about risks to investors and market integrity posed by the broad use of exemptive relief.