More on Bitcoin USD, Ethereum USD VanEck Crypto Monthly Recap For August 2025 Ethereum: Activity Growth Surged In August (Rating Upgrade) Ethereum Could Break Out Well Past It's All-Time Highs Bitcoin volatile despite increased odds of rate cut after weak jobs data Public Firms' Bitcoin holdings surpass 1 million BTC
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Crypto phishing scams surged in August 2025, costing users millions and targeting wallets via EIP-7702 signature exploits; immediately verify URLs, enable two-factor authentication, never share seed phrases, and follow the
ScamSniffer has disclosed a surge in the number of phishing scams and victims for August, marking a resurgence in phishing activity. The crypto anti-scam platform disclosed this in its August 2025 phishing report, noting a 72% increase in the amount lost compared to July. According to the report , the amount lost to phishing scams in August was $12.17 million. This represents one of the highest this year and is a sign that the activity is seeing a resurgence. In the first half of the year, losses to phishing scams reached a monthly high of $10.25 million in January and dropped to their lowest level at $2.80 million in June. August 2025 Phishing report (Source: ScamSniffer) With the losses reaching the highest level in 2025, the number of victims also reached a new yearly high. According to the data, 15,230 users were victims of phishing scams in August, a 67% jump compared to July, when it was just 9,143. It is also the first time this year that monthly victims have surpassed 10,000 users, with January having just 9,220. The biggest loss that month was a whale who lost $3.08 million on August 6 after signing a phishing transaction. The victim unknowingly approved a malicious transaction that transferred their aEthUSDT tokens to a phishing contract. Losses from three users combined account for 46% of all the amount lost in August. In one of those incidents, the user lost $1.54 million after signing an EIP-7702 phishing batch transaction. Another victim also lost around $1 million in cryptocurrencies and non-fungible tokens in similar circumstances. EIP-7702 batch-signature scams dominate phishing activity Meanwhile, ScamSniffer observed that August saw a surge in EIP-7702 batch signature scams, with this type of scam responsible for many of the losses in the month. Beyond accounting for two of the top three biggest monthly losses, other users also suffered the same incident. These include a victim 0x4897e losing $235,977 and 0x5ad31d losing $66,000 to batch transfers disguised as Uniswap swaps. There were several other incidents, leading security experts to identify a pattern of phishing scammers targeting addresses that upgraded to EIP-7702. EIP-7702 is an Ethereum upgrade introduced by the Pectra upgrade that allows externally owned accounts (EOAs) to have smart contract capabilities. Although its goal was to improve Ethereum user experience by enabling EOAs to have temporary smart contract abilities, such as transaction batching, it has created a vulnerability for scammers to exploit. ScamSniffer said: This time attackers use batch transfers (vs previous batch approvals), routing through Uniswap Universal Router to appear legitimate. Interestingly, phishing attacks targeting the EIP-7702 have been happening since the Pectra upgrade in June, but it has increased recently, showing that bad actors are getting more adept at exploiting the vulnerability. With hackers mostly using automated sweeper attacks, they can steal any funds going into a compromised address. The concerns around the EIP-7702 vulnerability have become even more pronounced among World Liberty Financial WLFI token holders. SlowMist founder Yu Xian also observed a few days ago that bad actors are using the features to steal funds from addresses holding WLFI. He explained that scammers are gaining access to the private keys of the victims through phishing and setting up the EIP-7702 exploit mechanism for the address. This allows them to steal tokens from compromised addresses immediately once the tokens are unlocked. One user has now asked the WLFI team to implement a direct transfer option to protect addresses on the WLFI whitelist that have already been compromised. Address poisoning remains an issue Meanwhile, crypto users still have other phishing exploits to grapple with, as August is also seeing a rise in other phishing attacks. ScamSniffer observed that direct transfers to phishing contracts also increased in August. The prevalence of phishing ads might have contributed to this, with ScamSniffer noting that these malicious ads on Google Search use Google Sites to host fake DeFi interfaces. Bing even ranked phishing sites as #1 for searches for DappRadar. Interestingly, address poisoning remains a major issue for crypto users, with several victims losing funds to it. One user lost $636,559 after copying the wrong deposit address from their contaminated address. As is usually the case, the wrong and correct addresses have the same first six and last four characters. Two other users lost $500,000 and $19,000 to a similar cause. KEY Difference Wire : the secret tool crypto projects use to get guaranteed media coverage
Phishing scams continue to impact crypto and Web3 users, prompting the need for vigilance and personal online safety countermeasures.
The SHIB burn accelerated as 20,311,173 SHIB were sent to unspendable addresses in seven days, lifting the weekly burn rate by 43.66%. The SHIB price then slipped 1.67% amid a
A recent post by SMQKE on X has reignited the debate around Ripple’s interoperability with SWIFT. By sharing content from Ripple’s official documentation, SMQKE spotlighted two crucial details: the RippleNet Integration Module explicitly includes “SWIFT messaging interoperability,” and the RippleNet Payment Object is based on the ISO 20022 pacs.008 standard. These findings provide concrete evidence that RippleNet is designed with compatibility in mind for traditional banking systems that rely on SWIFT. Ripple’s Integration Module and SWIFT Messaging Ripple’s documentation describes the Integration Module as a software layer connecting a company’s internal systems to RippleNet. Among its listed features is “SWIFT messaging interoperability,” which indicates Ripple anticipated the need for banks and financial institutions to bridge messaging flows between RippleNet and SWIFT. This is not a speculative claim but a documented feature, meaning the infrastructure to handle SWIFT messages is formally recognized within Ripple’s system design. By allowing automated orchestration and third-party extensions, the module further strengthens Ripple’s case as a flexible integration partner for institutions still entrenched in legacy rails. Yes, RippleNet includes features that enable interoperability with SWIFT messaging. Documented. pic.twitter.com/B7SiMxHnht — SMQKE (@SMQKEDQG) September 6, 2025 ISO 20022 and the Role of pacs.008 Equally significant is RippleNet’s adoption of ISO 20022 standards, specifically aligning its payment object with pacs.008, the widely used message type for cross-border financial transactions. ISO 20022 has been embraced globally as the next-generation messaging standard, and SWIFT itself has been migrating toward its adoption. RippleNet’s alignment with pacs.008 ensures that data formats between RippleNet and ISO 20022-compliant institutions are consistent. This reduces friction, minimizes translation errors, and allows RippleNet to operate seamlessly alongside existing financial infrastructures. In effect, Ripple has built its system to “speak the same language” as SWIFT-enabled banks and payment providers. Compatibility Versus Partnership It is important to draw a line between technical interoperability and business collaboration. Ripple’s documentation demonstrates that the network can interact with SWIFT messaging and ISO 20022 formats. However, this does not mean Ripple and SWIFT have an official commercial partnership or direct operational integration. We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 Instead, what the documentation shows is Ripple’s forward-thinking approach in designing a system that banks can adopt without overhauling their existing SWIFT-based operations . This creates optionality for financial institutions, allowing them to transition toward blockchain-powered settlement while maintaining connections to legacy rails. The Practical Implications For banks, the implications are significant. RippleNet’s SWIFT interoperability and ISO 20022 alignment mean reduced onboarding friction and streamlined messaging translation. Institutions can integrate Ripple’s solutions without sacrificing compatibility with global networks already adopting ISO standards. This design approach positions Ripple as a strong contender in the cross-border payments sector, where the ability to integrate rather than replace existing systems often determines adoption speed. In other words, RippleNet does not seek to dismantle SWIFT but to coexist, offering a bridge between blockchain efficiency and traditional messaging infrastructure. Final Takeaway SMQKE’s discovery from Ripple’s own documentation provides strong, verifiable evidence that RippleNet was deliberately engineered to interoperate with SWIFT. The Integration Module’s SWIFT messaging interoperability and RippleNet Payment Object’s alignment with ISO 20022 pacs.008 stands as clear proof of Ripple’s technical readiness to integrate with global banking systems. While this does not signal a formal partnership, it shows Ripple’s determination to position itself as a key player in modern financial messaging. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Interoperability Between Ripple (XRP) and SWIFT. Here’s Another Proof appeared first on Times Tabloid .
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New updates have been made to Ripple’s XRP Ledger (XRPL) as the network looks to dominate and gain more traction. This is also a positive for XRP, which serves as the network’s bridge currency. Ripple’s XRP Ledger Gets A New Update In an X post, XRP validator Vet revealed that the credentials amendment on the XRP Ledger is now active. He explained that credentials can be applied to attest to compliance requirements, such as KYC and AML, for a user or institution and issued to their decentralized identity. This helps to further build trust in the network. Related Reading: Ripple Vs. SWIFT Battle Heating Up As Exec Lands Major Blow To XRP Vet also noted that the amendment has all been done natively on the XRP Ledger. Notably, this update is part of a larger move to enable compliance amendments on the network. With decentralized identities and credentials implemented, Vet indicated that their next focus is to work on the permissioned domains and permissioned DEX. Ripple and other XRP Ledger stakeholders aim to utilize these compliance amendments to attract more institutions to the network, enabling them to adhere to traditional finance (TradFi) standards even on-chain. This also comes as the network aims to become the go-to for tokenization. Ripple recently stated that 10% of global assets will become tokenized by 2030, and is undoubtedly looking to tap into this trillion-dollar market. Ripple Engineer Breaks Down Significance Of This Update In an X post, Ripple engineer Kenny explained that the credentials update gives developers and businesses a way to handle identity checks and compliance requirements directly on the XRP Ledger. With these, they do not need to approve each account one by one manually. The Ripple engineer noted that traditionally, verifying user credentials like KYC requires multiple checks across different platforms. Related Reading: Pundit Says Ripple Is The New SWIFT — Here’s What Is Driving It Kenny remarked that this process isn’t only inefficient but also increases privacy risks because sensitive information has to be shared multiple times. As such, this makes the XRP Ledger credentials update vital. The Ripple engineer revealed that this feature enables credentials to be issued, stored, and verified natively on the XRPL. He noted the benefits of how this allows users to prove a required criterion without undergoing repeated verification. Kenny also stated that this will improve the onboard process and enhance security, while maintaining privacy. The Ripple engineer further gave an example of what a typical flow will look like using this credentials feature. A business will define the credentials it requires, such as the KYC, then a trusted issuer creates and signs that credential. The user then accepts and stores these credentials in their XRP Ledger account. That way, the credential is checked on-chain whenever the user interacts with the business. At the time of writing, the XRP price is trading at around $2.83, up in the last 24 hours, according to data from CoinMarketCap. Featured image from Adobe Stock, chart from Tradingview.com