Connect with us

Business

UK lawmaker’s X account hacked to boost scam ‘House of Commons Coin’

Published

on

The official X (formerly Twitter) account of British Member of Parliament Bob Seely was compromised and used to promote a fraudulent cryptocurrency called “House of Commons Coin,” raising fresh concerns over cybersecurity breaches targeting public figures.

The breach occurred on April 15, when Seely’s verified account suddenly began posting promotional content for the scam token, urging followers to buy in and sharing links to a token launch page. The posts included hashtags like #HOCCOIN and #HouseofCommonsCoin, and falsely implied that the MP was endorsing the cryptocurrency.

The messages were quickly flagged by users, with many pointing out the suspicious nature of the posts and warning others of a likely scam. The account was later locked and the unauthorized posts removed.

Neither Seely nor his office has issued an official statement, but sources close to the matter confirmed the MP was not involved in the promotion and that the account was taken over without authorization.

This incident highlights a growing trend of crypto scammers hijacking high-profile social media accounts to pump and promote fraudulent tokens. Similar attacks have targeted celebrities, government officials, and corporate accounts in recent months.

Cybersecurity experts have urged public figures to bolster their digital protections, including enabling two-factor authentication and conducting regular security audits. The House of Commons has not yet commented on whether an investigation into the breach is underway.

Business

North Korean hackers target crypto devs with fake recruitment tests

Published

on

U.S. authorities have issued a fresh warning about North Korean operatives posing as remote crypto developers to infiltrate global blockchain companies and funnel funds to the sanctioned regime.

According to the alert, state-sponsored hackers from North Korea are applying for freelance roles in the crypto sector by using false identities and stolen resumes. Their primary objective is to secure positions at Web3 and blockchain firms, enabling them to exploit access for financial gain and to gather sensitive technical data.

These operatives often present themselves as highly skilled engineers, using polished profiles on platforms like LinkedIn and GitHub. Once inside, they aim to move digital assets, extract source code, or compromise infrastructure — with the ultimate goal of generating revenue for North Korea’s weapons development.

The U.S. government has linked the scam to the Lazarus Group, a well-known cybercrime unit associated with the North Korean regime. Intelligence reports indicate that the group’s activities have led to the theft of billions in cryptocurrency over recent years.

Officials urge crypto firms to strengthen their vetting processes, including verifying job applicants’ identities and scrutinizing remote access permissions. The advisory also recommends businesses monitor unusual activity on internal platforms and stay updated on threat intelligence regarding nation-state actors.

The warning follows a surge in phishing campaigns and job application fraud targeting decentralized finance and crypto startups, which are often more vulnerable to social engineering and remote infiltration.

Continue Reading

Business

Binance helps countries with Bitcoin reserves, crypto policies, says CEO

Published

on

Binance has called on governments around the world to consider adding Bitcoin to their national reserves, positioning the digital asset as a strategic hedge amid growing global economic uncertainty.

The push comes as part of Binance’s broader initiative to promote Bitcoin’s role in the evolving financial landscape. The exchange argues that Bitcoin’s decentralized nature, limited supply, and resilience to inflation make it an ideal alternative to traditional reserve assets like gold and foreign currencies.

In a public statement, Binance suggested that countries could benefit from incorporating Bitcoin into their sovereign wealth strategies, especially those seeking greater monetary autonomy or facing currency volatility. The exchange also emphasized that holding Bitcoin can help nations diversify their reserve portfolios and reduce reliance on any single fiat currency, particularly the U.S. dollar.

Binance highlighted El Salvador as a pioneering example of this approach, where Bitcoin has been adopted as legal tender and accumulated as part of its national reserves. The company believes more governments will follow suit as digital assets continue to gain legitimacy and institutional interest.

While some policymakers remain cautious about integrating cryptocurrencies into national finance, Binance maintains that proactive engagement and investment in Bitcoin could provide long-term economic advantages and strengthen financial sovereignty.

Continue Reading

Business

Ripple acquisition Hidden Road secures FINRA registration

Published

on

Prime brokerage firm Hidden Road, reportedly in acquisition talks with Ripple, has successfully obtained registration with the Financial Industry Regulatory Authority (FINRA), signaling a major step forward in its U.S. expansion strategy.

The FINRA approval officially registers Hidden Road as a broker-dealer, allowing the firm to operate within regulated financial markets in the United States. This milestone comes as speculation swirls over Ripple’s interest in acquiring the brokerage to bolster its infrastructure and compliance capabilities amid increasing scrutiny from U.S. regulators.

Although neither Ripple nor Hidden Road has confirmed the acquisition, industry insiders suggest that the move would align with Ripple’s broader ambitions to deepen its footprint in traditional finance and enhance institutional access to digital assets.

Hidden Road, known for offering prime brokerage services across traditional and digital asset markets, has rapidly gained prominence by providing institutional-grade trading infrastructure and risk management solutions. The FINRA registration is expected to further legitimize its presence in the U.S. and attract more institutional clients.

The development marks a strategic win for Ripple as it navigates ongoing regulatory challenges in the U.S., while also reinforcing its focus on global growth and integration between blockchain technology and traditional financial services.

Continue Reading

Trending

Copyright © 2025 cryptonews.lk