Tag: Crypto

$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.

Crypto

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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Crypto Fear Rises: 5 Shocking Kidnappings That Prove It’s Getting Dangerous IRL

Crypto’s IRL Danger Level Just Went — 5 Wild Kidnapping Cases You Need to Know

Crypto may live on the blockchain, but the threats are very real AF. In 2025, the execs are scrambling for private security squads as kidnappings and ransom attacks go full GTA.

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France is basically on high alert. 🧨 Earlier this year, Ledger co-founder David Balland got snatched and held for ransom. He made it out alive — thanks to a police op — but things just kept spiraling.

In May, a crypto bro’s dad had a finger chopped off before cops rescued him near Paris. Not long after, Paymium CEO Pierre Noizat’s daughter and grandson were almost abducted — until a random Parisian came in extinguisher blazing and saved the day. 🧯

Even the U.S. isn’t safe. After a Vegas crypto event, a guy got kidnapped at gunpoint by three teens and dumped 70+ miles away in the Arizona desert.

French officials are now offering security briefings and telling crypto people to ditch flashy flexes. Meanwhile, its security OG Jameson Lopp says this year’s already seen 20+ in-person attacks. The blockchain’s still decentralized — but danger is centralized and getting real.

Stay safe, bag holders.

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Insane !12 Busted in $15M Crypto Laundering Ring : Hong Kong Cracks Down on Web3 Fraud

Twelve people just got clapped by Hong Kong and mainland China cops for laundering HK$118M ($15M) through fake bank accounts + crypto exchanges. Yeah, they were literally running the operation from an apartment in Mong Kok.

Crypto

These fraudsters used 500+ stooge accounts (that’s when you use someone else’s bank info) to wash dirty money from scams and flip it into it. Two rookies got caught mid-mission trying to drop stacks at a shop in Tsim Sha Tsui—police swooped in and grabbed HK$770K cash on the spot.

The Haul:

  • $134K in seized cash
  • 560+ ATM cards
  • Phones & docs tied to bank ops

Most of these stooge accounts came from clueless friends and fam—yikes. This bust comes while fraud cases in HK are up 12% and 73% of them are tied to stooge accounts.

🛡️ HK’s Response:
Hong Kong’s pushing back hard with a new tool called CryptoTrace—made with the University of Hong Kong—to track shady crypto activity. Plus, the city’s still dealing with that fake “National Hong Kong Coin” scam that finessed $3.1B in 2024.

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Crypto Hackers Just Leveled Up: $1.6B Gone in Q1 2025 as $100 Drainers Go Viral

Crypto Hackers Just Made It Stupid Easy to Steal $1.6B — Welcome to the Era of $100 “Drainers”

If you thought crypto scams were wild before, buckle up. The new villain in the Web3 streets? Drainer-as-a-Service (DaaS) — basically malware-as-a-subscription for crypto thieves. And get this: it starts at just $100.

Hackers, Crypto

Yep. For the price of a decent dinner, you too could (illegally) drain wallets. According to AMLBot’s April 22 report, drainer kits are now plug-and-play for criminals, no dev skills needed. All you need is a Telegram login and bad intentions.

Cybercrime Now Has a Help Desk

Phishing forums? Poppin’.
Darknet chats? Recruiting devs.
Telegram groups? Handing out tutorials like it’s a Web3 Udemy.

Some of these drainer gangs are so bold they’re setting up booths at crypto events like they’re legit startups. One crew, CryptoGrab, is a textbook case — operating freely thanks to loose enforcement in countries like Russia, where local laws turn a blind eye unless you scam their own.

And yeah, malware often auto-deactivates if it detects a Russian device. Homeland protection mode: activated 🇷🇺.

$494M Stolen via Drainers in 2024


That’s up 67% from 2023.
Kaspersky says darknet drainer forums more than doubled (55 ➡️ 129) between 2022 and 2024.
Telegram’s increasing data sharing has pushed them back to the Tor network, where it’s dark mode forever.

Q1 2025: Crypto’s Bloodiest Quarter Yet

Let’s talk numbers that hurt:
In just the first 3 months of 2025, total hacks torched $1.63 BILLION across 39 incidents.

That’s 4.7x more than the same time last year.

The top two gut punches?

  • Phemex: $69.1M drained in Jan
  • Bybit: $1.46B gone in Feb (yep, that’s billion with a B)

North Korea’s Lazarus Group is suspected to be behind most of it—94% of the total Q1 damage. That’s $1.52B stolen. Savage.

TL;DR


However, security isn’t broken — it’s basically non-existent right now.
And with drainers going for $100 a pop, expect even more losses if the space doesn’t level up its defense game ASAP.

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Breaking !5 Ways Trump’s Tariff Moves Are Causing Short-Term Crypto Chaos

Ever since Trump took office, his trade moves have been shaking up both stock and crypto markets, and it doesn’t look like things are slowing down. With big economies like China, Brazil, and Canada refusing to give in to his tariff threats, experts are predicting another wild week ahead. “Liberation Day,” aka April 2, is when Trump is expected to announce a massive 20% tariff on over 25 countries, impacting $1.5 trillion worth of imports by the end of April 2025.

Trump

What’s the Deal with Tariffs?

In simple terms, tariffs are taxes on goods coming in from other countries, making them more expensive. A “reciprocal tariff” is when countries agree to tax each other’s goods equally. This messes with inflation, increases prices, and pushes investors away from risky assets like stocks and crypto, into safer places like bonds. Historically, when Trump hit China with tariffs back in 2018, Bitcoin dropped by 27%. This time, crypto’s already feeling the heat, with Bitcoin dropping 6%, Ethereum 11%, and Solana by over 10%.

Why the Market’s Getting Shaken Up

Trump’s tariffs could spark a global trade war, just like past tariff hikes have. With the U.S. tariff rate already at an 8% high, experts predict it’ll break records by April. Higher tariffs = higher prices for consumers, less economic growth, and more tension between countries. The market’s already lost over $130 billion, and it’s only going to get worse if the situation escalates.

How Tariffs Could Affect Crypto Long-Term

Despite the short-term chaos, there could be a silver lining for crypto down the road. Trump’s been mostly pro-crypto, and his government has been talking about a national crypto stockpile. So, while tariffs might cause some panic right now, in the long run, it could actually be a win for crypto. This would bring more clarity and possibly lead to a bigger crypto-friendly environment.

Final Thoughts

Trump’s tariffs might cause a short-term crash in the markets, especially crypto, but if his crypto-friendly stance holds, the long-term outlook could still be positive. If things stabilize, the policies might set crypto up for growth. For now, it’s a waiting game as tensions rise and the market figures out how to respond.

Also Read: Breaking !Celo (CELO) Braces for $307K Token Unlock—Will Prices Drop Further?

Crypto Narratives Shattered : 3 Reasons Why Bitcoin Holders Aren’t Really Selling!

Bitcoin’s Big Fat Lie? Crypto Exposed?

Yo, the crypto streets are buzzing with wild claims that Bitcoin long-term holders (LTHs) are panic selling and dumping their bags. But let’s keep it —that’s cap. Onchain data shows OG Bitcoin holders ain’t flinching. They’re sitting tight, not selling—so where’s the panic coming from? 🤨

This is where misinformation meets reality, and according to CryptoQuant analyst “Onchained”, the streets need to trust data, not drama. He just called out the FUD machine, warning that a lot of these claims about Bitcoin holders capitulating lack real onchain validation. Instead, they’re driven by sensationalist market sentiment.

The Data Doesn’t Lie—LTHs Are HODLing Strong

The Inactive Supply Shift Index (ISSI)—a key metric that tracks how much of Bitcoin’s long-dormant supply is moving—shows NO major sell-off. That’s a fact, not speculation. In plain terms, this means that structural demand is outpacing supply, reinforcing the idea that long-term Bitcoin holders are NOT dumping their bags.

And guess what? Glassnode confirms this too. They reported that LTH activity remains subdued and there’s been a notable decline in sell-side pressure from these holders. So, if they’re not selling, why are these fake narratives spreading?

Bitcoin’s 4-Year Cycle Theory—Still Relevant or Nah?

One of the biggest crypto debates right now is whether Bitcoin still follows the classic 4-year halving cycle or if we’ve entered a longer, more unpredictable market phase.

Michael van de Poppe, the founder of MN Trading Capital, dropped a take, saying:

“I assume that we can erase the entire 4-year cycle theory and that we’re in a longer cycle for Altcoins.”

Even Bitwise CIO Matt Hougan backed this up, saying that the traditional four-year cycle is over due to major shifts in the U.S. government’s stance on crypto. He believes crypto markets are now influenced by a new wave of policies and regulations that will play out over a decade.

If that’s true, it could mean that Bitcoin’s price movements won’t be as predictable as before—which explains why some people are confused about where the market is heading.

Bear Market Incoming? Some Analysts Say the Bitcoin Bull Run Is Over

While some analysts are debunking the LTH selling narrative, others are making even bolder claims—that the Bitcoin bull cycle is already done.

CryptoQuant CEO Ki Young Ju dropped a bombshell on March 17, saying:

“Bitcoin bull cycle is over, expecting 6-12 months of bearish or sideways price action.”

He pointed out that all Bitcoin onchain metrics signal a bear market. One of the biggest factors? Fresh liquidity is drying up, and new whales are selling Bitcoin at lower prices. If that’s the case, we could see a consolidation phase for the next 6-12 months before Bitcoin makes its next move.

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Live graph from Coingecko

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So, Who’s Right? The Data or the Doomers?

At the end of the day, the crypto market is full of conflicting narratives. Some claim long-term holders are selling, but onchain data proves otherwise. Others say the bull cycle is dead, while some believe we’re just entering a different phase of the market.

One thing’s for sure—misinformation runs deep in crypto. So, before you let FUD (fear, uncertainty, and doubt) mess with your decisions:

Fact-check your sources.
Verify onchain data.
Stay ahead of the noise.

Because in the end, only the data tells the real story.

Crypto.com Names Al Hakim President for UAE Operations

Summary: Crypto.com has leveled up its game in the UAE by appointing Mohammed Al Hakim as the president of its regional operations. With his impressive track record and passion for innovation, Al Hakim is set to steer Crypto.com’s growth in one of the world’s hottest crypto hubs.

A Big Win for UAE’s Crypto Scene

Crypto.com isn’t just making waves; it’s making history. Mohammed Al Hakim is not only the first Emirati to snag such a prestigious role at the company but also a trailblazer in the entire crypto industry. His job? To lead Crypto.com’s expansion in the UAE and across the GCC. From working with government agencies to amping up blockchain initiatives, Al Hakim’s got his hands full—and he’s ready to deliver.

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Crypto Meets Innovation

Al Hakim brings over 10 years of experience in partnerships and business development. This dude helped rake in $800 million in foreign investments for Dubai and bagged sponsorship deals worth millions for government projects. He’s also part of the Mohammed Bin Rashid Center for Leadership Development, which basically means he’s been groomed to lead and innovate on the big stage.

Crypto.com’s Power Moves in the UAE

This appointment is just one of Crypto.com’s many flexes in the region. Recently, they launched an AED Wallet for local deposits and partnered with Mastercard for a prepaid crypto card. Add to that the UAE ranking third in the MENA region for crypto transactions ($30 billion in a year), and it’s clear: Crypto.com is going all-in on the UAE.

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Al Hakim summed it up best: “The UAE’s forward-thinking approach to crypto is unmatched. I’m hyped to drive innovation and bring more value to our users in the UAE and GCC.”

Bitcoin Rally Mirrors 2020 Bull Market

Summary: Ki Young Ju who’s the CEO of infamous CryptoQuant said that the recent Bitcoin rally which is driven and supported by huge whale accumulation and mining economics. He believes that this surge is very similar to the 2020 bull phase. Bitcoin currently is being traded at $97,444 as it comes closer and closer to $100,000.

Whale Accumulation Drives Rally

Ju was previously criticized for sharing how he believes whale accumulation is surging the BTC valuation but now Ju’s truth is highlighted by the insane surge as whale accumulation have been a major factor in Bitcoin’s valuation increase.

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Halving Impact on Mining Economics

Ju explained how higher Bitcoin prices are very necessary to maintain profitability for miner, and after the April halving, the mining rewards was reduced to mere 3.125 BTC while also doubling mining costs. This has added upward pressure on the market.

Short Squeeze Potential

As many more traders and investors are shorting Bitcoin, Ju highly believes that a short squeeze could potentially fuel the flame and further the bullish momentum. Which seems just parallel to what happened during 2020’s sixfold surge. He stressed his tone and emphasized that the recent conditions including political aspect greatly supports sustainable growth, however, he’s also cautious as the timing remains uncertain.

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Italy Weighs Lowering Crypto Tax from 42% to 28%

Italy is planning to implement 42% price hike on crypto trades according to a statement made by the Vice Economy Minister last month. It has taken major backlash though, so there’s a chance they might drop it to 28%. Some want to scrap the hike entirely, while others push for better crypto education. Whatever the outcome is, this could reshape Italy’s place in the crypto game.

The government of Italy is more tilted towards approving a proposal  to reduce the planned tax hike on cryptocurrency trading. A junior partner in Prime Minister Giorgia Meloni’s coalition suggests crypto tax limit to be 28% instead of the originally planned 42% according to last month’s budget.

Crypto Industry leaders argue that this absurd proposed tax would certainly make Italy less competitive in the field of crypto, compared to other European Union countries. It is sure to get a major pushback, they quoted. The law currently beholds  26% tax rate for crypto.

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The EU is also reportedly rolling out some major crypto rules soon, so Italy’s case becomes even more heated debate than anticipated. Forza Italia, a center-right political party in Italy, wants to cancel the hike entirely and ditch the tax break for gains under €2,000. The League also suggests teaming up with crypto firms to educate investors. The decision is in hands of Italy’s government and this decision is crucial as it would reshape its crypto future forever.

Injective (INJ) Eyes Bold $100 Rally Following Bullish Flag Breakout

Injective (INJ) just blasted out a bullish flag pattern. Its reportedly setting sights on a midterm target of $66 and very soon looks towards going on a solid uptrend. It has already broken above its 200 day moving average. Right now its at a critical $22.5 resistance level and looks to break through it pretty soon which would result in even more gains.

Injective is attracting major attention towards itself with analysts supporting it by highlighting its potential bullish run coming soon. Currently trading at $ 22.7 this cryptocurrency is poised to break above to more high targets, with a midterm price forecast of $66.

One of the crypto analysts , Captain Faibik specially highlighted a bullish flag pattern breakout for injective. Injective had been suffering a constant decline as of recent and usually there is a reversal from a downtrend to an uptrend and recent momentum of it hints on a major breakout. Analysts believe if this continues on we could expect a very nice rally.

Analysts are absolutely hyped up about INJ hitting $66 midterm after breaking out of a bullish flag pattern which is usually a sign of strong accumulation before a big price move. Its getting full support from buyers as well as they are all stepping in which further pushes INJ closer to this target. Analyst Aqua notes that INJ just broke above the 200-day moving average , this is first time since April, which often hints at a trend reversal. Aqua also makes another positive remarks by stating he believes INJ could surge past $100 in the coming months.

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