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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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Bitcoin Dips to $105K Amid Market Volatility – Is a Rebound Imminent?

Bitcoin (BTC) is showing some serious market nerves right now. As of May 30, 2025, BTC is trading around $105,000 — down from its recent all-time high of $111,814 reached just a week ago on May 22. Traders are watching closely as the OG crypto tries to find its footing in this rocky phase.

Analysts say this pullback is likely due to a combo of heavy profit-taking, short-term sell pressure, and global uncertainty in financial markets. Despite the red candles, some experts are calling this a “healthy correction” and a breather before a potential next leg up.

According to TradingView and market sources, BTC has dropped below key support levels but is showing signs of consolidation around the $106K zone. If this level holds, there could be a bullish bounce on the horizon. But if it breaks, bears might drag it down further to $100K.

Crypto bros and whales alike are now glued to charts and macro indicators. The U.S. Fed’s upcoming monetary policy update could stir things up even more. While FOMO is tempting, experts advise staying calm and watching volume trends before jumping in.

TLDR: Bitcoin is down but not out. Whether this is just a dip or the start of a deeper slide depends on what the next few days bring.

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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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Dogwifhat Price Analysis: WIF Dips Below $1 Amid Market Volatility

Dogwifhat (WIF), the memecoin sensation on the Solana blockchain, has recently seen its price dip below the $1 mark, trading at approximately $0.99 as of May 30, 2025. This decline reflects broader market volatility and a shift in investor sentiment.

After reaching an all-time high of $4.85 in March 2024, WIF has faced downward pressure, with its current price representing a significant retracement. Analysts suggest that the recent dip may be attributed to profit-taking and a general cooling in the memecoin market.

Technical indicators show that WIF is testing key support levels. If the price fails to hold above $0.95, further declines could be anticipated. Conversely, a rebound above $1.10 could signal renewed bullish momentum.

Despite the recent downturn, Dogwifhat maintains a strong community presence and continues to be a topic of interest among crypto enthusiasts. The coin’s unique branding and active social media engagement contribute to its resilience in the face of market fluctuations.

Investors are advised to monitor market trends and exercise caution, as the memecoin sector remains highly speculative and susceptible to rapid changes in sentiment.

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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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$TRUMP Coin Surges to $2.5B Market Cap Amid Political Buzz

The $TRUMP memecoin is making headlines, skyrocketing to a $2.5 billion market cap in May 2025. Launched on the Solana blockchain, this coin has become a focal point in the intersection of politics and cryptocurrency.

President Donald Trump’s active promotion of the coin has played a significant role in its ascent. His administration’s pro-crypto stance, including plans to acquire $2.5 billion in Bitcoin, has further fueled investor enthusiasm.

However, the coin’s rise hasn’t been without controversy. Critics argue that the close ties between Trump’s political activities and personal financial interests raise ethical concerns. Despite this, the $TRUMP coin continues to gain traction among investors and political supporters alike.

As the 2024 U.S. presidential election approaches, the $TRUMP memecoin’s performance may serve as a barometer for the blending of political influence and digital asset markets. Investors are advised to stay informed and exercise caution in this volatile environment.

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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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Breaking: Crypto Market Sees Major Moves: Bitcoin Dips, Moonchain Soars 300%

Crypto Market Sees Major Moves: Bitcoin Dips, Moonchain Soars 300%

May 29, 2025, was a rollercoaster in the crypto world. Bitcoin (BTC) dipped below $108,000, signaling a potential market correction. Analysts suggest that large holders, or “whales,” are beginning to distribute their assets, possibly indicating a market top .

In contrast, Moonchain (formerly MXC) experienced an astronomical rise, surging over 300% in just 24 hours. This unexpected spike has caught the attention of investors and traders alike, marking it as one of the day’s standout performers .

Meanwhile, XRP continues to gain traction globally. Data reveals that nearly half of XRP futures trading occurs outside U.S. hours, emphasizing its international appeal .

On the regulatory front, Bybit has been granted a MiCA license in Austria, allowing it to operate under the European Union’s new crypto regulations. This move signifies the EU’s commitment to integrating crypto into its financial systems .

Additionally, U.S. Vice President JD Vance praised former President Donald Trump as a “champion of crypto,” highlighting the increasing political support for digital assets .

As the day concludes, the market remains as dynamic as ever, with significant shifts in prices and growing institutional interest. Investors are advised to stay informed and exercise caution in this volatile environment.

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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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