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Police in Cyprus are investigating the theft of digital assets from a crypto wallet after a report by a 48-year-old man. The official complaint, which was filed by the man on July 26, claimed that digital assets worth €381,653 were stolen from his wallet. The complaint filed at the cybercrime division of the Cyprus police noted that the incident happened on June 11. The man claimed that unknown criminals gained unauthorized entry into his wallet, stealing his digital assets in the process. The hackers exploited a key weakness, gaining the password to the breached wallet from his email account, which had also been hacked in the past. Once they gained access to the digital assets , they moved all of them to a different digital asset. Cyprus police kickstart investigations into crypto theft Cyprus police have mentioned that the investigation will be very hard, and recovering the digital assets might be extremely difficult. The police say this case highlights a growing concern that has rocked Cyprus and the global crypto community. There has been a rise in cyberattacks targeting personal digital assets. These criminals target victims under the guise of either offering help or selling a service. Analysts have also noted that while digital assets offer privacy and decentralization, they also carry risks without proper security. For instance, users are being advised to write down their passwords and seed phrases offline. This way, they are safe, even when their devices are hacked. In response to the incident, the Cyprus police have issued a public advisory to individuals dealing in digital assets, urging them to take steps to secure their digital properties. Authorities have also recommended the use of secure digital wallets with advanced safety measures to help combat this menace. In addition, traders and enthusiasts are urged to only carry out transactions on trusted platforms, drumming up the need for two-factor authentication as a requirement to carry out transactions on platforms. The public has also been warned not to open suspicious links or download untrustworthy applications. Some of these scammers create applications and websites to mirror the original platforms. The cybercrime division of the Cyprus police says it will continue to investigate the case and has urged anyone with information that can help them to come forward. Fraudsters increase activities as total scam losses hit $2.1 billion Meanwhile, scammers and fraudsters are now taking advantage of the recent crypto activities to increase their attacks. Losses to crypto scams hit a new record of $2.1 billion in the first half of 2025, eclipsing the previous record of $2 billion set in 2022, and almost equaling the entire losses witnessed in 2024. In a statement by Ripple CEO Brad Garlinghouse, scammers have now resorted to impersonating the official YouTube account of Ripple in an attempt to con users. This is not the first time that the issue has happened to Ripple, as the crypto firm sued YouTube over impersonators in April 2021. The company sought damages from the video-sharing platform, accusing it of profiting from the activities of these scammers. However, Ripple dropped the lawsuit in March 2021, claiming that it had come to a peaceful resolution with YouTube and that the pair had agreed to combat scams together. Ripple isn’t the only firm being targeted by impersonators, as the criminals have continued to work overtime to steal from unsuspecting users. A recent post by security firm Scam Sniffer mentioned that it had found direct Google searches related to crypto firms showed scam ads at the top of the results. “Pro tip for DeFi users: Stop using Google search for crypto sites unless you enjoy playing Russian roulette with your wallet!” Scam Sniffer said. Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now
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Ethereum spot ETFs have achieved a historic 17-day consecutive inflow streak, recording $453 million on Friday alone and pushing total assets to $20.66 billion. BlackRock’s ETHA led with $440 million in daily inflows, making it the second-highest flowing US ETF this week. Source: SosoValue The sustained institutional demand has generated $9.33 billion in cumulative inflows, with weekly net inflows reaching $1.8 billion compared to just $71 million for Bitcoin ETFs. Bitwise CIO Matt Hougan projects that ETH ETF demand could reach $20 billion within the next year, equivalent to approximately 5.33 million ETH at current prices. With Ethereum expected to issue only 0.8 million ETH during that timeframe, demand could outpace supply nearly sevenfold. Technical analysis indicates that Ethereum is approaching a diamond pattern resolution around $2,832. Seasonal data show that August historically delivers 64.2% returns during post-halving years, positioning ETH for potential acceleration toward $4,000-$6,000 targets. Diamond Pattern Resolution Targets $4,000 Breakout Ethereum’s 3-day chart reveals a massive diamond formation approaching resolution around $2,832, with the pattern reaching its apex where decisive breakouts typically occur. Source: LordOfAlts on X The diamond represents one of the most powerful reversal patterns, characterized by expanding volatility followed by contracting volatility. ETH has reached successive highs around $4,000 and lows around $1,400, creating the classic diamond shape. The ascending trendline provides crucial support through multiple tests, with the recent breakout above this support suggesting renewed bullish momentum. Diamond patterns developing over extended periods typically lead to proportionally larger moves when finally resolved toward the upper boundary. Analyst projections of over $ 4,000 resulted from measured moves following successful upward resolution, targeting previous cycle resistance levels where significant institutional positioning awaits confirmation. Ethereum Price Prediction: Seasonal Strength Points to $6,000 August Target The monthly returns heatmap provides crucial seasonal context, supporting bullish prospects for August. Source: Crypto Rover on X Historical data shows August typically delivers exceptional returns for Ethereum, averaging 64.2% during post-halving years. The pattern consistently reveals strong performance, with gains of 35.62% in 2021, 25.32% in 2020, and 92.86% in 2017. Current July performance shows 50.79% for 2025, suggesting momentum is building for the traditional August rally. If historical patterns hold true from current levels around $2,800, the 64.2% average August return would project the Ethereum price toward the $6,000 target range during its strongest seasonal month. Additionally, CME futures open interest, which has reached record levels of $7.85 billion, provides further institutional validation. Whales are loading $ETH like never before. Ethereum CME Futures Open Interest just smashed to an all-time high of $7.85 BILLION. That’s the largest institutional positioning ever recorded for $ETH . Why does it matter? CME is where Wall Street & big funds play, not retail.… pic.twitter.com/mrteoJ5xMq — Ted (@TedPillows) July 27, 2025 It shows sophisticated traders are positioning aggressively for continued upside during historically strong performance periods, as ETF inflows create supply constraints. Best Wallet: Final Months to Join $14.2M Presale Before December Deadline Ethereum’s potential supply shock from sustained ETF inflows and a breakout toward $4,000-$6,000 targets creates a compelling opportunity for alternative tokens within the Ethereum ecosystem. Best Wallet’s $BEST token presale has raised over $14.2 million, with the December 31, 2025, deadline rapidly approaching. This closing deadline offers investors the final months to secure positions before the window closes permanently. Source: Best Wallet The $BEST token unlocks exclusive presale launchpad access, discounted trading fees, and staking rewards, which are essential for capitalizing on Ethereum’s potential acceleration phase. Best Wallet’s comprehensive platform provides secure multi-chain functionality with institutional-grade Fireblocks MPC integration alongside built-in DEX capabilities for optimal ETH positioning. The upcoming Best Card integration enables spending gains with up to 8% cashback during potential rally phases toward seasonal targets. With Ethereum potentially facing upside moves of 43-114% during August and sustained ETF demand creating supply constraints, the approaching December deadline creates a final opportunity window for investors seeking to capitalize on the next ETH rally. $BEST will capitalize greatly on this momentum, and interested investors are advised to check the presale website and secure their position now. The post Ethereum Price Prediction: ETFs Log 17-Day Inflow Streak – Is a Supply Shock Coming? appeared first on Cryptonews .
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