CFA Report Pegs US Crypto Fraud Losses at $80.7B

Over 12 individuals, including minors, have been arrested in connection with two high-profile crypto kidnapping cases in Paris, France, according to reports in local media. Authorities suspect a criminal organization behind the incidents, using social media for recruitment. One case involved the attempted kidnapping of a crypto entrepreneur's family members in broad daylight.

Bilal Bin Saqib, a London School of Economics graduate and CEO of the Pakistan Crypto Council, has been appointed as a special assistant to the prime minister on blockchain and cryptocurrency. Pakistan aims to become a crypto-friendly economy by allocating surplus electricity to bitcoin mining and attracting foreign investment.

Civitai, a leading AI model repository, now accepts crypto payments for purchasing Buzz tokens, excluding Bitcoin due to high fees. The platform aims to provide a secure and convenient payment option for its users, following the termination of its credit card processor.

An open-source project called darkwire enables Bitcoin transactions without Internet access, using long-range radio for off-grid communication. The project, created by pseudonymous programmer 'cyber', aims to provide privacy in regions with restricted communication infrastructure or during disasters. Darkwire utilizes Long Range Radio to create a decentralized mesh network for transmitting data and transactions.

At a Trump crypto dinner, attendees awaited the president's arrival, with VIPs spending millions to sit at exclusive tables. Trump praised crypto in a brief speech, and stayed altogether for about an hour. Some attendees found the event underwhelming.

Google's quantum team discovered that breaking RSA encryption may require 20 times fewer quantum resources than previously thought. This breakthrough is due to better algorithms and smarter error correction, making the threat of quantum attacks on cryptocurrencies more imminent.

Coinbase is being sued for allegedly violating securities laws and withholding information about a data breach that caused a 7% stock drop. The lawsuit also mentions undisclosed dealings with U.K. regulators before going public in the U.S.

Elon Musk announced that the X platform would introduce a payments service in beta mode, emphasizing the need for extreme care when people's savings are involved. The upcoming X Money service, in partnership with Visa, will allow users to make peer-to-peer payments.

A new report by the Humanity Research Consultancy reveals that high-ranking members of Cambodia's ruling party are involved in a $19 billion scam industry, with Huione Group at its core. The report accuses the state of supporting criminal networks engaged in fraud, human trafficking, and crypto transactions.

According to the Financial Times, Trump Media & Technology Group aims to raise $3 billion for acquiring digital assets, potentially further intertwining with the cryptocurrency industry. The specifics of the fundraising, such as amounts and schedule, may still change.