Editor's Choice
The president of Argentina, Javier Milei, denied accusations of fraud, stating that his post about the cryptocurrency $Libra was not advertising but merely sharing information without the intention of promoting the project
The Argentine president Javier Milei denied accusations that he promoted the cryptocurrency $Libra, which quickly collapsed, leaving investors with losses. In his statement, he emphasized that he was merely sharing a link and not advertising the currency. After receiving additional information about the project, Milei deleted the post, explaining that he acted in good faith. In response to the criticism, he compared investors to casino players, asserting that they knowingly took on risks. The court will decide whether charges of fraud will be brought.
Illegal cryptocurrency mining caused damages of 1.3 billion rubles in 2024: Russia introduces new restrictions and measures to combat electricity theft
In 2024, the group "Rosseti" reported losses of over 1.3 billion rubles ($14.2 million) due to illegal cryptocurrency mining. The main damage occurred in the North Caucasus (600 million rubles) and Novosibirsk (400 million rubles), where a mining farm with 3,200 devices stole 197 million rubles. Such operations overload power grids, which can damage infrastructure and household appliances. In response, authorities shut down 130 cases of illegal connections and launched criminal investigations into 40 cases. Restrictions on cryptocurrency mining have been introduced in 10 regions to prevent further losses.
Norway uncovers fraudulent scheme laundering 900 million kroner, with thousands of investors deceived by promises of profits from cryptocurrency and real estate
Norwegian authorities have charged four individuals involved in a large-scale fraud and money laundering scheme, resulting in thousands of victims losing their funds. The investigation revealed that more than 900 million kroner (about 87 million USD) passed through this operation, a significant portion of which was laundered via a Norwegian law firm and transferred to accounts in Asia. Victims were persuaded to invest in cryptocurrency, real estate, and other projects, but the scheme turned out to be a financial pyramid. The funds were laundered through complex transactions and partially returned to early investors.
In Lagos, the Chinese individuals will stand trial for internet fraud and cyberterrorism after being detained as part of the EFCC "Eagle Flush" operation in 2024
On February 18, 2025, a trial began in Lagos for four Chinese citizens accused of internet fraud and cyberterrorism. They were arrested on December 10, 2024, during the EFCC operation "Eagle Flush," in which 792 suspects linked to fake cryptocurrency investments and fraud were arrested. The accused — Xia Guang Kang, Li Xu Xin, Zhang Xue Hui, and Liu Yubo — are charged with cybercrimes, document forgery, and violating Nigerian laws. The trial will continue in March and April 2025.
Fraudsters scammed companies out of $5.6 million, posing as FTX debt holders, using AI-generated identities and access to FTX bankruptcy data
Elon Musk urges an audit of the gold reserves at the Fort Knox base in Kentucky to ensure their safety and provide transparency for the public
Nigeria is introducing taxes on cryptocurrency transactions to boost government revenue and protect investors through the licensing of centralized exchanges
Polkadot launches the first blockchain course for politicians: training UK deputies in Web3 and blockchain technologies in Zug, Switzerland, April 2025
Tether has signed a Memorandum of Understanding with the Government of Guinea for the implementation of blockchain technologies and the development of the country's digital economy
xAI launches Grok 3: a new AI model from Elon Musk with enhanced responses and voice interaction, available to Premium Plus subscribers on the X platform
The founder of Eliza (formerly ai16z) Show reports the hacking of his X account, through which a fake ELIZA token was promoted, causing panic among investors
Concerns about taxpayer data security and tax refund delays due to DOGE’s involvement, linked to Elon Musk, with the IRS
Bybit introduces a physical card for convenient cryptocurrency payments with 2 percent cashback, integration with Samsung Pay and Google Pay, and a free card for VIP users
Bybit, the second largest cryptocurrency exchange in the world, has introduced the Bybit Physical Card for convenient cryptocurrency payments. The card allows users to pay for goods and services anywhere Mastercard is accepted. VIP users get the card for free, while for others, the cost is $29.99. It has no annual or monthly fees, offers 2 percent cashback in USDT and AVAX, as well as up to 8 percent annual interest. The card integrates with Samsung Pay and Google Pay for convenient digital payments. Cardholders can also earn up to 10 percent cashback, limited to $300.
Scammers launched a fake meme coin of Saudi Arabia using a hacked account, resulting in financial losses for investors and confirming the risks of cryptocurrency schemes
Scammers launched a fake meme coin of Saudi Arabia (KSA) by exploiting the trend of politically supported cryptocurrencies. The scam was uncovered through a hacked account on X, which falsely represented the Saudi Arabian crown prince. Problems with the project became evident due to the lack of official information, transparency, and clear data on tokenomics and governance structure. This incident highlights the growing issue of scams with meme coins tied to political figures, leading to significant financial losses for investors.
Standard Chartered, Animoca Brands, and HKT have applied for a license to issue a Hong Kong dollar (HKD)-backed stablecoin under Hong Kong's new regulations
Standard Chartered, Animoca Brands, and HKT have applied for a license to issue a stablecoin backed by the Hong Kong dollar (HKD). Unlike most countries, in Hong Kong, currency issuance is carried out by private banks under the control of the Hong Kong Monetary Authority (HKMA). According to the new law, all stablecoin issuers must obtain a license by the end of 2024. This step aims to regulate and ensure the stability of digital currencies. If approved, Hong Kong may become the first country to issue a licensed HKD stablecoin, strengthening its position in the global financial system.
OpenAI rejected Elon Musk's $97.4 billion purchase offer, stating that the company is not for sale and will strengthen its non-commercial mission in the field of AI
OpenAI rejected the $97.4 billion purchase offer from a consortium led by Elon Musk, stating that the company is not for sale. This is a continuation of Musk's efforts to block OpenAI's transition to a commercial status. The startup's management emphasized that any changes will strengthen its non-commercial foundation and mission, which is to ensure that artificial intelligence benefits all of humanity. Musk, for his part, accuses OpenAI of violating its original goal and is seeking to regain control over the organization.
Best news of the last 10 days
The SEC suspends the lawsuit against Geosyn Mining and its executives amid similar fraud charges and the use of client funds by federal prosecutors
CZ donated 150 BNB to support students in Argentina affected by the collapse of the LIBRA token, complementing EnHeng’s $50,000 fund to compensate for financial losses
The Japanese company Metaplanet raised $25.9 million through bonds to expand its Bitcoin reserves, with a plan to reach 21,000 BTC by 2026 and protect against economic risks
Argentine President Javier Milei under fire for supporting the cryptocurrency $LIBRA, which lost nearly all of its value; opposition demands impeachment
Indian authorities seized cryptocurrency worth $190 million as part of the investigation into the fraudulent BitConnect scheme that attracted over $2.4 billion from investors
Indian authorities seized cryptocurrency worth $190 million as part of an investigation into the BitConnect case, a global financial scheme that promised investors returns of up to 40 percent per month. The operation was carried out on February 11 and 15 in Gujarat, during which cash, digital devices, and vehicles were also seized. BitConnect operated from 2016 to 2018, attracting more than $2.4 billion from participants before being exposed as a fraudulent scheme. The investigation is ongoing, and foreign nationals are also among the accused.
The man was arrested for the Hollywood sign stunt, promoting the cryptocurrency Vigilante Token, after the token’s price surged sharply
A man was arrested for attempting to promote the cryptocurrency Vigilante Token (VIGI) by climbing the famous Hollywood sign. During the stunt, he waved a flag with the token's logo. Despite security and access restrictions, this attracted local media attention, causing a sharp increase in the price of VIGI by 63,140 percent. However, the token's value later dropped by 40 percent. The project claims that the next marketing stunt will be 10 times larger, continuing to use aggressive promotion methods.
South Korea lifts ban on institutional investments in cryptocurrencies: FSC allows companies to open accounts on crypto exchanges and participate in the virtual asset market
South Korea has lifted the seven-year ban on institutional investments in cryptocurrencies. The country's Financial Services Commission (FSC) now allows registered institutional companies to open accounts on cryptocurrency exchanges and participate in virtual asset trading. This decision is made in response to the growing global interest in cryptocurrencies. As part of the new rules, standards for cryptocurrency listings will also be developed, and the regulations for virtual assets will be clarified to increase transparency and protect investors.
Brent Kovar is accused of creating a cryptocurrency pyramid worth $24 million, promising high returns and a 100 percent return, while using investors' funds for personal purposes.
Brent Kovar, a resident of Las Vegas, is accused of organizing a cryptocurrency pyramid scheme worth $24 million. From 2017 to 2021, he promised investors returns from 15 percent to 30 percent annually and a 100 percent return of funds through the company Profit Connect, which allegedly was engaged in cryptocurrency mining using AI. Instead, he used the funds for personal expenses. Kovar is charged with fraud and money laundering. If convicted, he faces up to 330 years in prison and a fine of up to $4.5 million. Investors are advised to be cautious when investing in cryptocurrency projects.