Scams

The GENIUS Act of 2025 has redefined the U.S. stablecoin landscape, establishing a federal regulatory framework that mandates 1:1 reserve backing, rigorous compliance protocols, and enhanced transparency for payment stablecoin issuers (PPSIs) according to the report. This legislation, signed into law on July 18, 2025, has catalyzed a surge in institutional confidence and innovation, positioning stablecoins as a cornerstone of modern financial infrastructure. For investors, the Act's emphasis on compliance, audit requirements, and infrastructure development has created a fertile ground for strategic opportunities in auditors, compliance technology firms, and blockchain infrastructure providers.

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Australia's corporate regulator has barred Blockchain Global director Ryan Xu from leaving the country amid an investigation into the collapse of its ACX Exchange. The Federal Court issued the travel restriction on October 20, which remains in effect until December 20.

Europol has dismantled a cybercrime network responsible for over 49 million fake accounts used in cryptocurrency and e-commerce fraud. The operation took place on October 10, 2025, in Latvia with support from Eurojust. Seven suspects were arrested and SIM infrastructure was seized. The group operated a SIM farm-for-hire service under the name 'SIMCARTEL'.

STBL, a token launched by Tether co-founder Reeve Collins last month, has lost 80% of its value within four weeks. The token is backed by less than $1.6 million in collateral, according to trading data. It has shed two-thirds of its value since issuing a public reassurance statement.

A US investor lost $3 million in XRP after hackers drained his wallet, with funds quickly moved through over-the-counter (OTC) networks tied to Southeast Asia. Blockchain investigator ZachXBT traced the stolen assets to services linked to the illicit platform Huione Guarantee. Recovery of the funds is considered unlikely due to the nature of these opaque networks. The victim had followed standard security practices but fell victim to seed phrase compromise.

Two MIT-educated brothers spent months planning a 12-second exploit on Ethereum's MEV-Boost protocol to steal $25 million, a former employee testified. Travis Chen detailed how the scheme targeted sandwich bots using bait transactions and a blockchain vulnerability.

Brandon Laroque, a retiree from North Carolina, lost over $3 million worth of XRP on October 15 when funds were drained from his Ellipal mobile app. The incident occurred after he allegedly imported his seed phrase into the app, turning his cold wallet into a hot one, according to Ellipal's statement.

Saudi Arabian crypto-AI project Astra Nova said a third-party market maker account was compromised, leading to the liquidation of 8.6% of its RVV token supply and a $10.2 million loss. The price of RVV dropped by around 50% following the incident. Astra Nova pledged to buy back the tokens from the open market. According to blockchain analyst EmberCN, most of the proceeds were transferred to exchanges Gate and Kucoin.