Blockchain-based mobile game FIFA Rivals just revealed its first pro club collab, with players and team kits coming to iOS and Android.
TRUMP: DON’T THINK THERE WILL BE A CEASEFIRE TRUMP: I DONT THINK YOU NEED A CEASEFIRE
On August 19, COINOTAG News reported that the U.S. Securities and Exchange Commission (SEC) has decided to delay its verdict on Bitcoin and Ethereum ETF applications tied to Truth Social,
In the ever-evolving realm of technology, two domains have consistently captured global attention over the past decade: cryptocurrency and artificial intelligence (AI). Both fields have showcased tremendous potential, not just in their respective spheres but also in the promise of their collaborative applications. As these two colossal forces began to intersect, the scope for innovation amplified, and crypto AI scams proliferated. The combination of AI’s data-driven insights with the cryptographic security of blockchain could potentially optimize trading strategies, enhance security protocols, and even offer predictive insights into market fluctuations. This Cryptopolitan guide will take an in-depth look at cryptocurrency AI scams . Understanding the Allure of Crypto AI Scams Cryptocurrency, with its decentralized architecture and rapid ascendancy in global finance, presents an attractive landscape for both legitimate financiers and malicious entities. To comprehend why this domain is particularly appealing to scammers, it’s crucial to dissect the inherent characteristics of cryptocurrency. At the core of cryptocurrency lies the concept of decentralization. Unlike traditional finance systems overseen by centralized entities, such as banks or government institutions, cryptocurrency operations are distributed across a vast network of computers. This decentralized nature ensures user anonymity, a feature that, while revolutionary, also offers a cloak of invisibility to those with nefarious intentions. Additionally, the global reach of cryptocurrency cannot be understated. Digital coins and tokens are not bound by geopolitical constraints, enabling transactions that can cross borders with ease. This universal accessibility, combined with a lack of uniform regulatory oversight, creates an environment where scams can proliferate with minimal intervention. Furthermore, the audience pool for cryptocurrency has witnessed exponential growth. As more individuals venture into digital asset investments, a significant portion remains uninformed or inadequately educated about the complexities and potential pitfalls. This knowledge gap presents a fertile ground for scammers to exploit, capitalizing on the inexperience of newcomers to the scene. How AI Takes Crypto Scams to the Next Level The introduction of artificial intelligence into any sector invariably escalates its capabilities. When merged with the realm of cryptocurrency, AI not only magnifies the opportunities for authentic advancements but also amplifies the potential for scams. This potent amalgamation creates avenues for deception that are unparalleled in their sophistication and reach. Artificial intelligence, by design, thrives on data. With its ability to process vast amounts of information at unprecedented speeds, AI can identify patterns, predict behaviors, and adapt in real-time. For legitimate enterprises, these capabilities can lead to efficiency improvements and innovation. However, in the hands of scammers, these same qualities can be repurposed for elaborate schemes designed to deceive. A notable consequence of integrating AI into cryptocurrency-related scams is the automation of deceptive processes. In the past, scams often required a human touch, limiting their scope and frequency. With AI, however, scams can operate continuously, targeting countless potential victims simultaneously. This automation dramatically increases the scale at which fraudulent activities can be executed. Moreover, the sophistication inherent to AI enables scams to be more believable. Whether it’s through generating realistic, yet false, user testimonials or mimicking genuine financial expert advice, AI can craft scenarios that are exceedingly difficult for even the discerning eye to differentiate from authenticity. Beyond mere believability, the adaptive nature of AI equips scammers with a dynamic tool. Using AI, a single scammer could launch and manage thousands of fraudulent campaigns, including phishing messages, fake support agents, or investment bots, according to Chainalysis . Even as more people become educated and aware of traditional scam tactics, AI-driven scams can evolve, circumventing common detection methods and continually presenting novel threats. A report published on May 28, 2025, shows that roughly 60% of all deposits into scam wallets on-chain go into scams that leveraged an AI tool, and the number has been on the rise since 2021. Yearly share of deposits associated with crypto AI scams. Source: Chainaysis Types of Crypto AI Scams 1. Deepfakes: The AI-assisted Audio-Visual Deception The potency of artificial intelligence isn’t limited to textual manipulations; it has made substantial strides into the realm of audio-visual content, fostering the birth and rise of deepfakes. These sophisticated synthetic media, generated through AI, can recreate, superimpose, or manipulate voice, images, and video, often yielding results that are alarmingly indistinguishable from authentic content. Given the growing nexus between AI and cryptocurrency, understanding the risks associated with deepfakes in the crypto domain is crucial. Deepfakes are created through complex neural network architectures, notably Generative Adversarial Networks (GANs). By feeding these networks vast amounts of data, they are trained to replicate facial features, voice intonations, and even subtle nuances such as gestures or expressions. The result? Audio-visual content that can convincingly mimic real-life individuals, making it exceptionally challenging for the untrained eye or ear to discern fiction from reality. While the broader digital ecosystem has grappled with the challenges posed by deepfakes, the cryptocurrency sector has encountered its unique set of adversities. The autonomous nature of crypto transactions, combined with the heightened sense of trust associated with video content, makes for a potent breeding ground for deception. One glaring example is the manipulated video featuring former FTX CEO Sam Bankman-Fried. Unwary viewers were directed towards a malicious website with the lure of doubling their crypto investments, a testimony to the potential damage deepfakes can inflict. The sophistication of modern deepfakes presents formidable challenges in detection. Traditional methods, which relied on inconsistencies in lighting, shadows, or audio-video mismatches, are increasingly ineffective against state-of-the-art deepfakes. AI-driven models trained to detect such fabrications remain in an ongoing tussle with the advancing techniques used to create deepfakes, underlining the cat-and-mouse dynamic of this domain. 2. Social Proof Manipulation: Challenging What We See Online Social proof, a psychological phenomenon where individuals mirror actions and beliefs of the masses, has emerged as a powerful driver in the decision-making processes of crypto investors. It operates on the presumption that a vast number of people engaging in a particular activity signifies its correctness or value. Within the cryptocurrency community, this translates to the popularity of tokens, projects, and platforms. Yet, with the infusion of artificial intelligence into this realm, the metrics traditionally used to gauge social proof are increasingly vulnerable to manipulation. The decentralized nature of cryptocurrency means there’s no central authority to offer validations. Hence, potential investors often seek reassurance by observing the actions and beliefs of their peers. This can be in the form of community support, engagement rates, online discussions, or even the sheer volume of participants. The idea is simple: if many are endorsing or investing in a particular token or project, it must hold merit. Enter artificial intelligence. With the capability to generate fake online profiles, simulate engagement, and fabricate endorsements, AI poses a direct challenge to the conventional indicators of social proof. Automated bots can rapidly amplify content across social platforms, inflate engagement metrics, and even generate synthetic yet genuine-looking comments, creating an illusion of widespread endorsement or approval. Such fabricated indicators mislead potential investors into believing they’re witnessing organic support, whereas, in reality, they’re often witnessing a mirage. Misrepresented social proof, bolstered by AI, can lead to cascading effects in the crypto world. A falsely elevated token or project can attract genuine investors, which in turn can amplify its apparent legitimacy. This cycle can culminate in genuine stakeholders investing substantial resources based on manipulated data, only to witness sharp downturns when the true nature of the project emerges. Combatting AI-driven social proof manipulation necessitates a two-pronged approach. On the one hand, technology must evolve to detect and counter such AI-driven anomalies. On the other hand, the onus falls upon investors and stakeholders to foster a culture of due diligence, prioritize in-depth research, and develop a discerning eye for authenticity. 3. AI-generated Phishing AI-generated phishing is one of the most insidious forms of crypto AI scams that is increasingly becoming almost impossible to detect. It’s a type of scam where fraudsters create phishing emails, fake websites, and direct messages to launch personalized attacks based on a user’s online behavior. Using AI tools, scammers are now able to scrape and analyze vast amounts of publicly available information more easily and quickly. They can scrape social media profiles, forum posts, and even breached databases to build a detailed picture of a target. The data could be information about the targets’ interests, who they follow, the projects they are interested in, and even the language they use online. Instead of sending out a generic email to thousands of people, they use AI tools to craft a unique message for the targets. It might mention a crypto project they recently tweeted about or reference a specific DeFi protocol they’ve been discussing. It all sounds natural and convincing, and the details are unnervingly specific. So, AI often makes the personalization of the scam feel legitimate, bypassing the usual red flags. 4. AI Chatbot Scams Social media platforms like X (formerly Twitter), Telegram, and Discord, which are hubs for most crypto discussion, support, and announcements, are usually the breeding ground for this kind of crypto AI scam. Unlike traditional scammers who might engage in a one-on-one conversation, the sophisticated ones now leverage AI to operate at scale, impersonating trusted figures on these platforms to prey on users’ need for quick information or help. First, they program and deploy the bots on Twitter, Telegram, Discord, etc, to monitor conversations and identify users who are new, asking for help, or looking for official links. The bots are meticulously designed to mimic the profiles of community moderators, project administrators, or even well-known developers. They might use the same profile picture, a similar username, and a “Mod” or “Admin” badge, making them virtually indistinguishable from the real thing at a quick glance. When a user asks a question like “How do I claim my airdrop?” or “Where’s the official link to the new liquidity pool?”, the bot swoops in with a seemingly helpful and authoritative response. A screenshot of a fake bot comment on Twitter The bot’s “help” always leads to a malicious action. It will provide a link to a fake website or email address that looks exactly like the real one, prompting the user to “connect their wallet” to claim a reward or perform a transaction. The user, believing they are interacting with an official source, enters their wallet information or approves a transaction that drains their funds. Below is a recent case that happened on August 17, 2025, where a Coinbase user claimed to have lost over $9,000 to a scammer posing as a Coinbase support. This person just scammed me out of over 9k of crypto. Thought she was from Coinbase support helping me recover my ppcoins I accidentally sent there. She drained my wallets and blocked me. Can this week get any worse! Beware people. pic.twitter.com/v3vRMxBgrR — stretch (@Strech1982) August 17, 2025 5. AI-Assisted Pig Butchering Scams Pig butchering scams have long been a devastating form of online fraud. They involve a long-term con where a scammer “fattens up” a victim with a fake relationship before “slaughtering” their finances by convincing them to invest in a fraudulent crypto platform. The use of AI by fraudsters has made the scam more scalable and convincing. The initial phase involves “pig hunting,” where scammers use AI to create incredibly realistic and appealing fake personas. AI can generate convincing profile pictures, write detailed backstories, and even create content for social media profiles that reflect a lavish, successful lifestyle. With the fake persona, the scammers are able to cast a wider net, reaching out to potential victims on dating apps, social media, and messaging platforms. In the past, this phase was labor-intensive, requiring a human scammer to spend weeks or months building a relationship with a single victim. Now, AI-powered chatbots and large language models (LLMs) can handle this at scale. Once the victim is emotionally “fattened up,” the scammer, often still a human but now supported by AI-generated content, introduces the crypto investment opportunity. The AI can create compelling narratives about how they’ve become wealthy through a “secret” trading platform or a new, high-yield crypto project, which is all a lie. Real-World Examples of Crypto AI Scams In observing the crypto space, one cannot overlook the tangible instances where artificial intelligence has played a role in significant scams. While theoretical understanding is essential, examining real-world scenarios offers invaluable insights into the actual tactics employed by scammers and the repercussions for the victims involved. 1. Meta’s ChatGPT Scare Recently, Meta disclosed a disturbing trend of hackers exploiting OpenAI’s ChatGPT. The AI model was reportedly misused to gain unauthorized access to users’ Facebook accounts. In a short span, over 1,000 malicious links disguised as ChatGPT extensions were intercepted, marking a concerning uptick in AI-assisted cyber intrusions. The very design of ChatGPT, which excels in natural language processing, was turned against unsuspecting users, highlighting the versatility of AI in the hands of malicious entities. 2. Misleading Token Proliferation on DEXTools Another alarming revelation emerged when a simple keyword search on DEXTools, a prominent crypto trading platform, brought to light over 700 token trading pairs associated with either “ChatGPT” or “OpenAI”. Despite no official announcement from OpenAI about blockchain ventures, opportunistic scammers capitalized on the AI tool’s popularity, creating tokens to mislead potential investors. 3. Deepfake Deceptions The realm of deepfakes, powered by AI, has brought forth a slew of challenges for the crypto industry. Scammers employ AI technologies to fabricate realistic content, from face-swapped videos to manipulated audio. A notable incident involved a deepfake video of the former FTX CEO, Sam Bankman-Fried, redirecting users to a hazardous website with promises of doubling their cryptocurrency. 4. Harvest Keeper’s Fallacy The year 2023 witnessed the rise and fall of the so-called AI project, Harvest Keeper. With grand promises and seemingly cutting-edge AI features, the project eventually collapsed, resulting in users losing an estimated $1 million. Concurrently, projects bearing names like “CryptoGPT” surfaced on platforms like Twitter, further muddying the waters. 5. Ripple CEO Deepfake In July 2025, Cryptopolitan reported another deepfake attempt on Ripple CEO, Brad Garlinghouse, where scammers made a fake video of him falsely promoting an XRP giveaway. The video redirected users to a malicious website. Protecting Yourself: Tools & Techniques to Identify Crypto AI Scams As malicious entities harness the power of AI to perpetrate fraud, it is imperative for individuals to equip themselves with tools and methodologies that can detect and deflect these threats. This section elucidates a series of strategies, offering both a shield and a sword against the looming AI-crypto scams. 1. Watch Out For Red Flags Sudden Project Popularity: An overnight sensation or an abrupt surge in a project’s traction, especially without any significant news or developments, may signal orchestrated manipulation. Inconsistent AI Responses: If an AI-powered platform offers contradictory advice or responds erratically to similar queries, it might indicate underlying malicious intentions. Too-Good-To-Be-True Promises: As the age-old adage goes, if something appears too good to be true, it often is. Promises of guaranteed returns or infallible AI insights should be approached with skepticism. 2. Use Tools and Platforms for Verification AI Verification Platforms: Several tools, such as Deepware Scanner, can discern if content, especially videos or images, has been manipulated or generated by AI. Blockchain Analysis Tools: Platforms like Chainalysis or Elliptic can trace cryptocurrency transactions, helping users verify the legitimacy of a platform’s transaction history. Sentiment Analysis Tools: By gauging the sentiment of discussions surrounding a project on forums and social media, tools like Santiment can offer insights into its authenticity. Review Aggregators: Websites that aggregate user reviews, when used judiciously, can offer glimpses into genuine user experiences. One must, however, be wary of platforms where review authenticity isn’t stringently checked. 3. Apply Strategies for Enhanced Vigilance Double Verification: Before making investment decisions based on AI-driven insights, cross-reference the advice with trusted human experts or established analytical tools. Engage in Communities: Active participation in crypto communities can be enlightening. Shared experiences and discussions can unmask dubious ventures. Continuous Education: The crypto realm is in a state of flux, with innovations emerging rapidly. Regularly updating oneself on the latest trends and technologies can serve as a formidable defense against scams. Bottomline While AI’s prowess presents both opportunities and threats in the cryptocurrency domain, knowledge remains the paramount defense against deception. By melding tools, techniques, and a healthy dose of skepticism, one can navigate the AI-crypto nexus with enhanced security and confidence. Updated for August 2025 .
BitcoinWorld Solana TPS Unleashes Incredible 107K Transactions Per Second in Stress Test The cryptocurrency world recently buzzed with exciting news: Solana TPS soared to an astonishing 107,540 transactions per second during a recent weekend stress test. This remarkable figure highlights the network’s raw processing power and its potential to handle immense transactional volume. While this peak performance is a significant technical achievement, it is important to understand the nuances behind such a high number and what it means for Solana’s real-world capabilities. Solana TPS: What the Stress Test Revealed During the recent stress test, Solana demonstrated an incredible capacity, hitting over 107,000 transactions per second. This was a crucial benchmark, showcasing the network’s ability to scale under extreme load. However, a significant portion of this activity involved “noop” transactions. These are essentially placeholder transactions that consume network bandwidth but do not involve actual user interactions or smart contract executions. They are often used in stress tests to push the network’s limits. Understanding this distinction is key: Peak Performance: The 107,540 Solana TPS figure represents the theoretical maximum the network achieved under specific test conditions, primarily with “noop” transactions. Actual User Throughput: According to reports from CryptoPotato , the average actual user throughput on Solana hovers around 1,000 TPS. This figure reflects real-world activity, including transfers, DeFi interactions, and NFT transactions. Despite the difference, the ability to reach such high peak speeds even with “noop” transactions underscores Solana’s underlying architectural efficiency. It proves the network’s infrastructure can indeed process a massive volume of data quickly, setting it apart from many other blockchains. Understanding Solana TPS: Peak vs. Real-World Throughput Why is there such a large gap between the peak Solana TPS and its average user throughput? The answer lies in the nature of transactions. Real-world transactions are complex. They involve: Diverse smart contract executions. Varying data sizes. Interactions with multiple decentralized applications (dApps). These factors contribute to higher computational demands compared to simple “noop” operations. The current average of 1,000 TPS for user activity is still highly competitive when compared to many other leading blockchains, which often operate at much lower speeds. For example, Ethereum’s current throughput is significantly lower, highlighting Solana’s advantage in raw speed. This higher baseline for actual user transactions means a smoother experience for users and developers alike, even as the network continues to mature and optimize its real-world performance. Solana’s Ecosystem and the Future of Solana TPS The impressive Solana TPS numbers are not just technical bragging rights; they are fundamental to supporting a thriving and diverse ecosystem. A high-performance blockchain is essential for applications that demand speed and low latency, such as: Decentralized finance (DeFi) platforms, where rapid transaction finality is crucial. Gaming applications, which require seamless in-game transactions. NFT marketplaces, where quick minting and trading are beneficial. The network’s ability to handle high volumes makes it an attractive platform for developers building the next generation of decentralized applications. As more users and projects migrate to Solana, the demand for its transactional capacity will only increase, pushing the network to further optimize its actual throughput. The ongoing development efforts on Solana are continuously aimed at improving both peak performance and the efficiency of real-world transactions, ensuring that the network can support its growing user base effectively. Institutional Confidence and Solana TPS Growth Beyond the technical metrics, the broader market also reflects confidence in Solana’s capabilities. Despite the recent market fluctuations, where SOL trades near $183 (down 5% at the time of the original report), institutional interest remains strong. Institutional holders collectively own over 3.5 million SOL. This significant institutional backing signals a belief in Solana’s long-term viability and its potential to become a dominant force in the blockchain space. Institutional adoption often hinges on a network’s reliability, security, and scalability. Solana’s demonstrated ability to achieve high Solana TPS , even in stress tests, contributes positively to its appeal among large investors. Their continued investment provides a strong foundation for the network’s future development and expansion. As the ecosystem matures and more complex applications emerge, maintaining high transaction speeds will be paramount. Solana’s commitment to pushing its technical limits, as seen in the stress test, bodes well for its future in handling a global scale of operations. In conclusion, Solana’s remarkable achievement of 107,540 transactions per second in a stress test is a powerful testament to its underlying technology and scalability potential. While the distinction between peak and actual user throughput is important, Solana’s consistent ability to deliver competitive speeds for real-world transactions, coupled with strong institutional backing, positions it as a formidable player in the blockchain arena. The future looks bright for Solana as it continues to refine its performance and expand its vibrant ecosystem. Frequently Asked Questions (FAQs) Q1: What is Solana TPS? Solana TPS stands for Solana Transactions Per Second, which measures the number of transactions the Solana blockchain can process each second. Q2: What is the difference between peak and actual Solana TPS? Peak Solana TPS refers to the maximum transactions achieved under specific test conditions, often using simplified transactions like “noop” transactions. Actual Solana TPS reflects the average number of real-world user transactions processed on the network, which includes more complex operations. Q3: What are “noop” transactions? “Noop” (no operation) transactions are placeholder transactions used in stress tests to simulate network load without performing any actual user activity or smart contract execution. They help assess the network’s raw capacity. Q4: Why is high Solana TPS important for the network? High Solana TPS is crucial for supporting a wide range of decentralized applications that require speed and low latency, such as DeFi, gaming, and NFT marketplaces. It ensures a smooth and efficient user experience, making Solana an attractive platform for developers and users alike. Q5: What does institutional ownership of SOL signify? Significant institutional ownership of SOL indicates strong confidence from large investors in Solana’s long-term viability, scalability, and potential to be a leading blockchain. This backing provides a stable foundation for the network’s continued development and growth. Did you find this article insightful? Share it with your friends and colleagues on social media to spread the word about Solana’s incredible performance and its future potential! To learn more about the latest crypto market trends, explore our article on key developments shaping Solana price action. This post Solana TPS Unleashes Incredible 107K Transactions Per Second in Stress Test first appeared on BitcoinWorld and is written by Editorial Team
Bitcoin buy signals may emerge from bond market stress, but whale investor activity and dormant coins raise short-term volatility risks.
TL;DR The United States Securities and Exchange Commission has provided a new update on a few of the spot Ripple ETF filings. The underlying asset has struggled in the past few days but has managed to return above a crucial support level at $3. The first update published minutes ago by the securities regulator informs that it has once again delayed making a decision on whether to approve ot reject Nasdaq’s proposal to list and trade the Coinshares’ XRP ETF. The filing reads that the SEC has extended the review period beyond the initial August 24 deadline, pushing the final decision date to October 23, 2025. It explained that this extension allows additional time to evaluate the proposed rule change and the new public comments it has received. If approved, the Coinshares XRP ETF would be structured under Nasdaq’s Commodity-Based Trust Shares framework, giving investors regulated exposure to Ripple’s token through traditional markets. Reports emerged after this SEC announcement that the agency has also delayed making a decision regarding two more XRP ETF applications – those filed by Bitwise and Canary. Ripple’s token has followed the overall market-wide correction in the past few days, dropping below $3 earlier today, which is a key support level. Although it currently sits slightly above it, the danger still looms for another price crash to as low as $2.10, as a few analysts warned earlier today. The post Breaking Update on Several Spot Ripple (XRP) ETF Filings appeared first on CryptoPotato .
BitMine Immersion is getting attention in the financial world and in the crypto industry after growing its Ethereum (ETH) holdings to over $6.6 billion. This bold move pushed the company ahead of popular crypto miner MARA in crypto reserves. It also highlighted its ambitious plan to claim a larger share of the Ethereum market. A Rapidly Growing Ethereum Treasury Just a week ago, BitMine’s Ethereum stash was worth $4.9 billion. Today, that figure stands at $6.6 billion, reflecting how quickly the company is scaling up its exposure. The treasury now holds over 1.52 million ETH valued at $4,326 each, alongside a smaller reserve of 192 Bitcoin. The sharp rise shows that BitMine is not treating crypto as a side bet; it is making Ethereum the core of its long-term strategy. In a recent statement, BitMine’s chairman, Tom Lee, described Ethereum as one of the greatest trades of the decade. He says several factors are making Ethereum more valuable. These include more interest from big investors and financial institutions moving toward blockchain technology. He also notes the connection between artificial intelligence (AI) and decentralized networks. Lee believes that as traditional finance joins with blockchain, Ethereum will become an important part of the future financial system. Tom Lee’s view matches analysts at Bernstein, who see Ethereum as a leading symbol of blockchain innovation. BitMine Sets Sights on 5% of Ethereum, Sparks Investor Buzz BitMine is not just buying digital assets. The company also wants to be seen as a trusted player with strong market support. Its fast growth has already attracted investors like ARK Invest , Founders Fund, Pantera Capital, and Kraken. BitMine aims to own 5% of all Ethereum in the world. This goal has increased investor interest and built its reputation as a top supporter of ETH. Furthermore, BitMine’s stock, BMNR, is now one of the most traded in the U.S., with about $6.4 billion in daily trading. This level of liquidity places it ahead of giants like JPMorgan and Alphabet. Although BMNR slipped 4.37% in a single day, its long-term performance remains impressive. The share price has risen 775% over the past six months and more than 600% since the start of the year. This achievement ranks the BMNR among the best-performing stocks in the U.S. market. BitMine Rises as Top Institutional Supporter of Ethereum Bitcoin-focused company Strategy is still the largest corporate crypto treasury , holding over $74 billion in Bitcoin (BTC). BitMine has now taken second place with its Ethereum-focused holdings. This shows BitMine’s role as a major institutional supporter of Ethereum. BitMine’s rise comes amid a growing trend of institutions adding digital assets to their balance sheets . By focusing on Ethereum instead of just Bitcoin, BitMine is creating a unique place in the world of corporate crypto treasuries. The post BitMine Immersion Bets Big on Ethereum as Treasury Soars Past $6.6B appeared first on TheCoinrise.com .
Details have finally emerged about the $23M hack that crippled US-based crypto exchange Lykke late last year. The culprit? North Korea’s Lazarus Group, once again. With hacks like these becoming more prevalent, the need for secure, non-custodial storage becomes increasingly necessary. This is where Best Wallet shines, a solution designed to safeguard your crypto from precisely these threats. UK Treasury Confirms Lazarus Behind ‘UK’s Biggest Crypto Heist’ The attack, known as the largest UK-based crypto theft, took place in June 2024. It involved stolen assets across both the Bitcoin and Ethereum networks. While the affected systems were immediately shut down to limit damage, the entire exchange was forced to discontinue its service on December 6, 2024. In fact, the entire situation was murky for months, with Lykke struggling to pinpoint the blame. But finally, UK authorities and blockchain analysts have pieced together what happened – not only for Lykke’s sanity, but also its former users. The UK Treasury’s Office of Financial Sanctions Implementation (OFSI) identified the notorious state-sponsored hacking group as responsible. Israeli research firm Whitestream also backed the UK watchdog’s findings after tracing the stolen funds through exchanges. Lykke’s Founder Declared Bankrupt, Crypto Exchange Liquidated Life after the hack has been anything but smooth for Lykke. In January, the crypto company’s founder, Richard Olsen – a descendant of the Swiss Julius Baer banking dynasty – was declared bankrupt and placed under criminal investigation by Swiss authorities. And that’s not all. In March, a UK judge ordered Lykke into liquidation after over 70 users filed claims over £5.7M in lost funds. The hack and its aftermath highlight the vulnerabilities that crypto companies face, alongside the growing threat of hacking groups. And it hits even harder when knowing that over $2.17B has been stolen from crypto services this year, surpassing all of 2024. ByBit’s $1.4B hack accounts for the majority of losses. And yes, Lazarus was responsible. On May 16, 2025, on-chain analyst ZachXBT also found that Lazarus stole around $3.2M worth of $SOL . Yet these are just a few examples – Lazarus is one of the largest cybercrime groups worldwide, after all. Lazarus often carries out such scams by funneling stolen funds through Tornado Cash, a crypto mixing service designed to make it tricky to trace funds. Owing to helping scammers obscure their transaction trails for unlawful financial gain, it was sanctioned by the US Treasury in 2022. However, a recent court ruling led the regulators to drop their appeal , so such sanctions are set to be lifted soon. With attacks like these growing in scale, and Tornado Cash’s sanctioning being lifted not helping matters, secure wallets like Best Wallet are more necessary now than ever. Gain Full Crypto Control With the Best Wallet App Best Wallet is a multi-chain, non-custodial wallet that puts you in full control of your crypto – without compromising privacy or security. Unlike custodial platforms, it ensures that only you hold the private keys to your assets, ensuring complete ownership. It leverages Fireblocks’ MPC technology , so instead of relying on traditional seed phrases , it splits your private keys and distributes them across locations. Private key exploits drained $2.1B worth of crypto lost to attacks in the first half of 2025, compared to $1.5B over the same period in 2024. And with such attacks accelerating, Best Wallet’s non-custodial protection is vital for peace of mind. Best Wallet also avoids KYC requirements , so you need not worry about handing over your personal data to use the mobile app (available on iOS and Android). But there’s more to the wallet than security. It supports over 1K digital assets, soon across 60 blockchain networks. So, it’s no wonder it’s a go-to hub for managing, trading, buying, and selling crypto assets. Better still, it has a ‘Cross-Chain Swap’ feature that connects you to 330+ decentralized exchanges and 30+ bridges. By doing so, it ensures you’re given the best rates and lowest fees when moving your crypto assets across networks. Plus, it has a lineup of developments in the pipeline, including Best Card (its own crypto debit card), an NFT gallery, and market intel analytics. Best Card alone should be a major boon: It’ll enable you to spend your assets directly while on the move, boosting crypto accessibility and daily use. By scooping up some $BEST , its native token, you can also enjoy lower gas fees, governance rights, and early access to top presales. Buy & Stake $BEST to Earn 90% APY Lykke’s collapse underscores just how vulnerable crypto services and assets are when it comes down to sophisticated, state-backed hackers like Lazarus. With billions worth of crypto already stolen this year alone, there’s no better time to prioritize your control and security of digital assets. Best Wallet is a great way to protect your assets. It gives you full ownership over them, plus protection against private key breaches – its future-focused roadmap that makes crypto more usable daily is just a cherry on top. To boost the wallet’s value, consider purchasing $BEST on presale for just $0.025495. After doing so, it can also be staked at a hefty 90% APY for passive income. This isn’t investment advice. Always do your own research and never invest more than you’d be sad to lose
BitcoinWorld XRP ETFs Face Crucial Delay: SEC Pushes Back Decision The cryptocurrency world recently turned its attention to a significant development: the U.S. Securities and Exchange Commission (SEC) has once again postponed its decision on proposed spot XRP ETFs . This move impacts the aspirations of firms like 21Shares and CoinShares, who are eager to bring these investment vehicles to market. For many, this delay underscores the cautious approach regulators are taking with digital asset products, especially those linked to XRP. What Exactly Happened with XRP ETFs? The news, initially reported by U.Today, confirms that the SEC extended the review period for the 21Shares and CoinShares applications for spot XRP ETFs . This is not an outright rejection, but rather a deferral. It allows the regulatory body more time to evaluate the proposals thoroughly. The crypto community often views these delays as part of a pattern, as the SEC frequently uses its full allotted time for complex financial products. The applications from 21Shares and CoinShares represent efforts to offer investors direct exposure to XRP’s price movements. This means investors would not need to hold the digital asset themselves. Such products are common in traditional finance. They could potentially attract a wider range of institutional and retail investors to the XRP ecosystem. However, the SEC’s meticulous review process highlights the unique challenges and considerations tied to cryptocurrencies. Why Does the SEC Delay Decisions on Crypto ETFs? The SEC’s decision to delay approval for XRP ETFs stems from several factors. Primarily, the commission operates under a mandate to protect investors and maintain fair, orderly, and efficient markets. With novel financial products like crypto ETFs, the SEC scrutinizes aspects such as: Market Manipulation Concerns: Regulators worry about the potential for manipulation in underlying crypto markets. These markets are often less regulated than traditional exchanges. Investor Protection: Ensuring that investors understand the risks associated with volatile digital assets is a key priority. Custody and Valuation: Questions surrounding the secure custody of digital assets and accurate real-time valuation also play a role. Furthermore, the ongoing legal battle between the SEC and Ripple (the company associated with XRP) likely adds another layer of complexity. While some aspects of XRP have been deemed not to be a security in specific contexts, the broader regulatory status of XRP remains a point of discussion for the SEC. This legal uncertainty often leads to a more cautious stance on related financial products like spot XRP ETFs . What are the Broader Implications for XRP ETFs and the Market? This latest delay in the approval of XRP ETFs sends a clear message about the regulatory landscape for cryptocurrencies in the U.S. While the market has seen approvals for Bitcoin futures ETFs and more recently spot Bitcoin ETFs, the path for other digital assets, especially those with ongoing legal scrutiny, appears to be longer and more challenging. For XRP holders and potential investors, the delay means continued uncertainty regarding the asset’s mainstream financial integration. A spot ETF could provide significant legitimacy and open doors for broader adoption. This could potentially influence XRP’s price and liquidity positively. The market will now watch closely for the SEC’s next move. We anticipate whether these XRP ETFs will eventually gain approval or face further hurdles. This situation also influences how other altcoin ETF applications might be treated, setting a precedent for similar products. How Do Investors Respond to XRP ETF Delays? When the SEC delays a decision on products like XRP ETFs , it often creates a ripple effect in the market. Investors might react with caution, leading to short-term price volatility for the associated asset. However, experienced crypto investors understand that regulatory processes are often lengthy and complex. They tend to view these delays as temporary setbacks rather than outright rejections. For those considering investing in XRP, this period of uncertainty highlights the importance of due diligence. It is crucial to stay informed about regulatory developments and the ongoing Ripple case. While the promise of an ETF is significant, the market can still experience movements based on other factors, including technological advancements and global adoption. Conclusion: Patience is Key for XRP ETFs The SEC’s extended review period for spot XRP ETFs reminds us of the careful and often slow pace of regulatory oversight in the fast-moving crypto space. While the delay might test patience, it also underscores the rigorous process required to bring new financial products to a regulated market. The crypto community remains hopeful, yet realistic, about the future of these investment vehicles. Ultimately, the path to mainstream adoption for XRP, via ETFs, continues to be a journey of regulatory navigation. Frequently Asked Questions (FAQs) Q1: What is a spot XRP ETF? A spot XRP ETF (Exchange-Traded Fund) is an investment vehicle that would directly hold XRP, allowing investors to gain exposure to its price movements without owning the cryptocurrency itself. It trades on traditional stock exchanges. Q2: Why is the SEC delaying decisions on XRP ETFs? The SEC often delays decisions on novel financial products like crypto ETFs due to concerns over market manipulation, investor protection, and the complexities of custody and valuation for digital assets. The ongoing legal case involving Ripple and XRP also contributes to this cautious approach. Q3: How does the Ripple lawsuit affect XRP ETFs? The legal battle between the SEC and Ripple over XRP’s classification as a security creates regulatory uncertainty. While there have been favorable rulings for Ripple, the broader legal status remains a factor the SEC considers when reviewing related financial products like spot XRP ETFs. Q4: What is the potential impact of an XRP ETF approval? An approval could bring significant legitimacy to XRP, potentially increasing its liquidity and attracting a wider range of institutional and retail investors. This could positively influence XRP’s market price and foster broader adoption. Q5: When might the SEC make a final decision on XRP ETFs? The SEC operates on extended review periods for such applications. While a specific date is not always clear after a delay, they must eventually make a decision, either approving, rejecting, or initiating further delays within their mandated timelines. The crypto community continues to monitor for updates. If you found this article insightful, please consider sharing it with your network! Help us spread awareness about crucial developments in the crypto space. To learn more about the latest crypto market trends, explore our article on key developments shaping XRP institutional adoption . This post XRP ETFs Face Crucial Delay: SEC Pushes Back Decision first appeared on BitcoinWorld and is written by Editorial Team