Anmol Khatiwada, Author at Bitmala

Crypto Fraud Surges 200% on MEXC in 2025: India and Indonesia Lead Global Spike

MEXC Reports 200% Rise in Crypto Fraud, Flags Over 80,000 Scam Attempts in Q1 2025

Crypto security might be evolving, but so is crypto fraud — and it’s exploding. On May 30, crypto exchange MEXC revealed that detected fraudulent activity on its platform soared by 200% year over year, fueled largely by market manipulation, bot trading, and wash trading attempts.

In Q1 2025 alone, MEXC flagged 80,057 fraud attempts, more than doubling from the same period in 2024. The fraudulent behavior came from over 3,000 coordinated syndicates, using increasingly advanced tactics to exploit new users in volatile markets.

India took the top spot as the global hotspot for crypto fraud, with nearly 27,000 accounts flagged — a 17% year-over-year rise. Indonesia followed with a staggering 5,603 flagged accounts, marking a 1,303% increase, underscoring how rapidly fraud is evolving in Southeast Asia.

The Commonwealth of Independent States (CIS) region also saw a 245% rise in flagged activity, with 6,404 accounts tied to suspicious or manipulative trading behavior.

MEXC’s Chief Operating Officer, Tracy Jin, attributed this rise in fraud to a troubling mix of:

Low financial literacy in fast-growing crypto markets,
The spread of fake influencer accounts, and
The rise of misleading “educational” trading groups used to push scam tokens and exit liquidity schemes.

“We’ve observed a growing number of so-called ‘educational’ trading groups that appear to be coordinated efforts to mislead users,” said Jin. “This highlights the importance of user education, especially for young and first-time investors.”

MEXC emphasized that these scams often rely on social engineering — exploiting trust, hype, and fear of missing out (FOMO) to trap users. Some of the most common tactics include pump-and-dump groups, influencer fraud, and fake financial advisory networks posing as legit crypto coaches.

In response, MEXC announced plans to launch several user education campaigns aimed at helping users recognize and avoid deceptive schemes. These will include in-app alerts, tutorial videos, and regional partnerships with crypto educators.

The spike in fraud mirrors a larger trend in 2024 and 2025. The FBI previously reported that over $9 billion in crypto-related fraud losses were recorded in 2024 alone, with “pig butchering” scams among the most damaging.

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Stablecoins Surge in Real-World Crypto Use: $94B in Payments, 150M Wallets, and Growing B2B Adoption

On May 29, 2025, new research by Artemis, Castle Island Ventures, and Dragonfly showcased the rising real-world impact of crypto-powered stablecoins. The comprehensive study collected insights from 20 stablecoin firms and 11 related companies, highlighting a key truth: stablecoins are no longer a niche — they’re leading the next wave of crypto adoption.

Once a niche concept, stablecoins are now central to global finance and cross-border transactions. These digital assets fuse the benefits of crypto — speed, accessibility, decentralization — with the stability of traditional currencies like the U.S. dollar.

The study revealed that the total supply of them now sits at $239 billion, held across 150 million wallet addresses. From January 2023 to February 2025, more than $94.2 billion in non-trading stablecoin transactions were processed — underscoring their growing use for real-world payments.

At the May 2025 Bitcoin Conference in Las Vegas, it were the unexpected stars, repeatedly mentioned in talks and memes. And for good reason: they’re now at the center of the U.S. Senate’s ongoing bipartisan efforts to regulate the crypto sector, signaling political recognition of their importance.

The research showed clear market leaders: USDT and USDC, which together account for more than $214 billion in market cap. Networks like Tron and Ethereum dominate blockchain infrastructure for these transactions. Payment giants like Visa, Stripe, and Mastercard are also integrating crypto stablecoin services at scale.

The shift from peer-to-peer (P2P) usage to business-to-business (B2B) transactions became evident in mid-2024. As of February 2025:

B2B payments hit $3B,
P2P stood at $1.5B, and
Card-based stablecoin usage surged to $1.1B.

Interestingly, card-based stablecoin transactions — once minimal — now rival P2P payments, showing deeper consumer integration of crypto into daily life.

The U.S. and Singapore top the global usage charts (18% each), with Hong Kong, Japan, the UK, and Germany trailing. In the U.S. Treasury’s own words, if these coins were a nation, they’d be the 14th largest holder of U.S. debt — highlighting their deep integration with traditional finance.

Ultimately, the study concludes that crypto is no longer theoretical. Stablecoins are actively used by millions to send money, run businesses, and power global commerce — and their role is only accelerating.

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$200M Crypto Scam: US Targets Funnull Tech and Liu Lizhi

The U.S. Treasury Department has cracked down on a major international crypto fraud operation, sanctioning Funnull Technology, a Philippines-based company, and its leader, Liu Lizhi, for facilitating online investment scams.

According to the Office of Foreign Assets Control (OFAC), Funnull played a central role in enabling fake crypto websites that impersonated legitimate investment platforms. These scam sites have reportedly caused over $200 million in global losses.

Funnull’s scheme involved purchasing large pools of IP addresses from tech companies and selling them to criminal networks. These resources allowed fraudsters to build and rotate fake crypto platforms, making it harder for law enforcement to trace their activities.

In 2024, the company escalated its methods by secretly modifying developer tools. The altered code redirected users from real websites to fraudulent crypto pages and gambling sites, further blurring the line between legitimate and scam domains.

Liu Lizhi, a Chinese national, has been added to the Specially Designated Nationals (SDN) list, freezing his U.S.-linked assets and banning all U.S. entities from transacting with him or Funnull. Violations could result in legal action.

Additionally, OFAC sanctioned two crypto wallets tied to Funnull. Blockchain analytics firm Chainalysis confirmed the wallets were used to funnel stolen funds and identified Funnull as a core part of the “Triad Nexus”, a massive fraud network tied to over 200,000 scam websites.

This enforcement action highlights a growing push by U.S. authorities to dismantle infrastructure behind crypto scams, aiming to protect investors and increase accountability in the digital finance space.

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Breaking !BlackRock-XRP ETF Rumors Heat Up: $9T Buzz Grows

Rumors are flying across crypto circles that BlackRock may be preparing to launch an XRP ETF. Social media posts claim a massive $9 trillion investment could be coming — but how accurate is this?

BlackRock has made waves with its Bitcoin and Ethereum ETFs, holding over $43 billion combined in those assets. However, XRP doesn’t share the same regulatory clarity. It remains entangled in legal complications with the SEC, making it a difficult fit for a company like it that sticks with well-regulated offerings.

Despite the hype, BlackRock has not filed for an XRP ETF. A prior filing in April 2025 was debunked as fake, and CEO Larry Fink has never acknowledged XRP in public discussions. The $9 trillion figure cited by rumor mills refers to its total assets under management — not a crypto investment.

There is, however, cautious optimism surrounding XRP ETFs more broadly. The SEC is set to make a ruling on Franklin Templeton’s spot XRP ETF by June 17, 2025. Bloomberg ETF analyst Eric Balchunas puts the odds at 65% for approval eventually, and on-chain prediction markets like Polymarket give it an 83% chance by year-end.

The SEC recently held closed-door discussions with BlackRock, Fidelity, and others — prompting speculation that the agency may be warming to altcoin ETFs, including XRP.

ETF Store President Nate Geraci recently commented: “Spot XRP ETF approval is just a matter of time… The largest ETF issuers won’t ignore this forever.”

While the rumors about BlackRock remain unsubstantiated, the conversation around an XRP ETF is heating up — and all eyes are now on the SEC’s next move.

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SOL Strategies Files $1B Shelf Prospectus to Fuel Solana-Focused Growth

SOL Strategies Inc. is preparing for potential capital raises to support its pivot toward the Solana blockchain. The company has filed a preliminary base shelf prospectus with Canadian securities regulators, allowing it to offer up to $1 billion in various securities — including common shares, warrants, subscription receipts, and debt — should market conditions align in the future.

CEO Leah Wald emphasized the move as a strategic, long-term step: “The filing of a base shelf prospectus supports our growth strategy by providing us with the flexibility to access capital as future opportunities arise in the rapidly evolving Solana ecosystem.”

Although no offerings are currently planned, this filing positions the firm to act quickly when needed. Formerly Cypherpunk Holdings, its Strategies rebranded last year to reflect its new investment focus on Solana-based opportunities, leaving behind its previous Bitcoin-centric approach.

This announcement signals the company’s growing commitment to infrastructure, DeFi, and blockchain innovation potential.

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2nd Suspect Arrested for Bitcoin – Torture Case Involving Ransom

New Arrest in SoHo Bitcoin Torture Case: Business Partner of Crypto Investor John Woeltz Surrenders

Just days after the shocking arrest of crypto investor John Woeltz on bitcoin, a second man tied to the grisly SoHo torture case has turned himself in. William Duplessie, 33, arrived at the NYPD’s 13th Precinct in Manhattan on Tuesday, now facing the same chilling charges of kidnapping and torture.

Authorities allege that Duplessie, believed to be Woeltz’s business associate, helped hold an Italian man hostage inside a rented $40,000-a-month townhouse for over two weeks. Prosecutors say the victim was beaten, electroshocked, forced to smoke crack, cut with a saw, and threatened at gunpoint — all to extract a Bitcoin password.

New evidence presented in court includes photographs of the victim being tortured and disturbing paraphernalia found in the home: body armor, night vision gear, drugs, and ammo. The victim eventually escaped by lying about where his crypto wallet password was stored.

While Woeltz skipped his scheduled court appearances, Duplessie’s lawyer tried to argue for house arrest in Florida on a $1 million bond. The judge refused, citing flight risks — including Woeltz’s alleged access to a private jet and helicopter.

Both men remain in custody, facing serious prison time in what’s being called one of the most bizarre crypto crimes in recent memory.

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Breaking !NFT Market Down 97% – Pudgy Penguins to the Rescue?

NFT Lending Is in Critical Condition: Down 97% — Is There Any Way Back?

The NFT lending market has absolutely tanked in 2025, plummeting from $1 billion in January to just $50 million today — a shocking 97% collapse in less than 6 months.

It’s not just a correction; it’s a full-on capitulation.

Lenders & Borrowers: Both Ghosted

According to DappRadar’s latest report:

Borrowers dropped by 90%
Lenders fell by 78%
Average loan size shrunk from $22K in 2022 to just $4K in 2025

Even hardcore NFT believers are now on the sidelines. The hype has been replaced by hesitation.

Gondi Is Winning What’s Left of the Market

In this shrinking battlefield, Gondi has emerged as the new king — eating up 54.2% of market share with a focus on long-term art-based lending.

Compare that to Blend, once the king with 96% dominance, now losing steam as it struggles to retain liquidity without constant airdrops and incentive loops.

Pudgy Penguins Lead Loan Activity

Despite the downturn, a few blue-chip and are still moving capital:

Pudgy Penguins: $203M loaned since January
CryptoPunks, Azuki, Beeple, Fidenzas also seeing some traction

Meanwhile, average loan duration has shrunk from 40 days to 31 days, showing users are nervous and keeping exposure short.

Even Big Brands Are Backing Out

It’s not just users — big Web2 players are ditching NFTs:

Starbucks shut down its loyalty program
GameStop and DraftKings pulled the plug on their NFT marketplaces
Bybit and X2Y2 exited the NFT space entirely

X2Y2 even announced plans to pivot into AI. That’s how cooked the NFT lending meta is.

What Can Save NFT Lending?

Per DappRadar, here’s what might bring the market back:

Real-world assets (RWA) as collateral
Intent-based UX instead of listing-only models
DeFi-native credit scores to minimize rug risk
Utility-first NFTs — think gaming, ticketing, and identity

Bottom Line: It’s Not Dead, But It’s Definitely in a Coma

The lending market isn’t dead yet, but it needs a serious rebrand and tech upgrade to come back.

For now, projects like Gondi and collections like Pudgy Penguins are keeping the lights on.

But unless we move from JPEG hype to real use cases, lending might become another relic of the last cycle.

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XRP Price Drops 1% but ETF Buzz Builds: Can XRP Hit $10 by Year-End? Solaxy (SOLX) Presale Raises $41.5M

XRP ETF Hype Grows Despite 1% Dip – Could XRP Hit $10+ by End of 2025? Solaxy (SOLX) Presale Explodes Past $41.5M

XRP has taken a minor hit in the past 24 hours, dropping by 1% to $2.30 as the broader crypto market dipped 2.5%. That said, XRP still boasts a jaw-dropping 330% gain over the past year, showing its resilience amid market turbulence.

Despite the dip, XRP remains the fourth-largest cryptocurrency and continues to attract major attention — especially with XRP ETFs on the horizon.

Short-Term XRP Price Action: Trouble Ahead or Just a Dip?

On-chain data from CryptoQuant shows active addresses on the XRP Ledger have collapsed from 108,000 in December to just 23,000 today — a steep 80% drop.

That’s far more than the 30.5% drop in price since XRP’s seven-year high of $3.31 on January 18.

While this decline hints at reduced interest, the context matters:

XRP’s current activity still outpaces most of 2022–2023.
Fewer active wallets can also signal stronger long-term holding, not necessarily bearish behavior.

Still, RSI levels have cooled from 70 to under 50, suggesting some near-term softness. Analysts forecast a possible drop to $2.20, but with strong fundamentals, XRP could rebound to $2.50+ by July.

XRP ETFs Could Be a Game-Changer

History is bullish. When BTC ETFs launched in 2024, Bitcoin soared from $35K to $99K.

Now with up to 10 XRP ETFs in the pipeline, the market is buzzing with predictions:

“How much will XRP be by 12/31/25?”
A. $10+
B. $100+
C. $1,000+
#XRP #RLUSD #XRPETF 💎
— Kenny Nguyen (@mrnguyen007)

While $100+ may be a moonshot, a move to $4.00 or more by year-end seems reasonable if ETF approval happens and market sentiment shifts bullish again.

Solaxy (SOLX): $41.5M Raised – The Next Big Presale Token?

For those seeking high-upside plays beyond XRP, Solaxy (SOLX) is quickly becoming the talk of the presale scene.

💰 $41.5 million raised so far.
🧠 Solana-powered + eco-energy narrative = viral potential.
📈 SOLX aims to connect DeFi with real-world solar energy systems.

As presale tokens often rally hard post-launch, SOLX could be a hidden gem for early-stage investors looking to maximize ROI.

Final Word:

XRP’s near-term dip may test patience, but its long-term outlook powered by ETF catalysts looks rock solid. Meanwhile, Solaxy (SOLX) is already proving presales can still deliver big in 2025. Whether you’re betting on blue chips or breakout tokens, this cycle’s only just getting started.

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Breaking !Pepe (PEPE) Explodes 54.7% in Monthly Gains: Could It Rally Another 90%?

Pepe Price Prediction: 90% Rally Incoming? MIND of Pepe AI Token Raises $11M in Viral Presale

Meme coin madness is far from over, and Pepe (PEPE) is leading the charge. With a staggering 54.7% monthly gain, its has once again cemented itself as a standout performer among top meme assets.

Between May 21 and 23, PEPE’s trading volume surged beyond $2 billion — peaking at $2.8 billion in just 24 hours. That’s over half of its circulating supply, a clear indicator of the current explosive demand.

The wider market rebound has lifted meme tokens, with mid-sized projects like Pudgy Penguins (PENGU) and Popcat (POPCAT) seeing strong short squeezes. But it’s breakout that has traders buzzing.

Data from Coinglass shows open interest in PEPE futures has climbed from $166M on March 10 to $700M — a yearly high hit just six days ago. Although the 2025 trading volume record still stands at $5.3B (Nov 13), this year’s peak of $3.73B is fast catching up.

Bullish Setup Forms: $0.000029 in Sight?

It recently broke out of a descending wedge pattern and is now consolidating around the $0.000013 support level — a setup eerily similar to its pre-surge pattern from early May.

RSI at 57.84 suggests room to run before overbought territory is reached.
MACD near the baseline hints at a bullish momentum reversal.
A break past $0.000022 resistance could pave the way for a test of $0.00002836.

A measured move from current levels projects a 90% price rally, aligning with a target range of $0.00002680–$0.00002900 in the coming weeks.

Meet MIND of Pepe: AI x Meme Magic

As the token leads the charts, its AI-powered cousin, MIND of Pepe (MIND), is making waves too. This viral AI agent — already live on X — combines real-time market insights with meme virality to engage massive audiences.

Since its January presale, MIND has raised nearly $11 million, and it’s just getting started.

Why $MIND matters:

Holders get exclusive alpha from the AI agent.
Priority access to future meme coin launches backed by the agent.
The ability to swap USDT, SOL, or use a bank card to invest via the official MIND of Pepe website.

As MIND grows in influence, so does the value proposition for early $MIND investors.

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Half of $1.4B Stolen in Bybit Hack Vanishes Through Crypto Mixers

Three months after one of the largest crypto heists in history, nearly $644 million of the $1.4 billion stolen from Bybit has vanished from traceable blockchain records, according to new data.

Blockchain analysis shows that about 49.5% of the funds remain traceable, while only 4.5% ($63 million) has been frozen by exchanges and law enforcement. The majority of the stolen funds have been processed through sophisticated cryptocurrency mixing services designed to obscure transaction trails.

The largest portion — $247.5 million in Bitcoin (966 BTC) — was funneled through Wasabi Wallet, a privacy-focused tool. Another $94.1 million was laundered through eXch, a mixing service that falsely claimed to shut down in April, but continues to operate via private back-end APIs, according to TRM Labs. The bybit hacks however keep getting out of hand.

Other privacy tools used include:

Tornado Cash: $2.5M in ETH
Railgun: $1.7M in ETH

These services obscure transactions by pooling user funds, making it nearly impossible to trace where the crypto ends up.

The attack’s origin was equally concerning. A report by Safe Wallet revealed that the North Korean hacker group TraderTraitor gained access to Bybit funds by compromising a developer’s laptop. Disguised as a stock trading simulator, a malicious Docker project led to the installation of malware, which stole AWS session tokens and bypassed multi-factor authentication.

Despite initial containment efforts, the incident reveals critical vulnerabilities in Web3 security hygiene, and highlights the ongoing challenges of crypto asset recovery once funds enter opaque mixing systems.

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