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FBI seizes $100K in NFTs from scammer

The FBI has seized 86.5 Ether and twNFTs worth more than $100,000 from a reported phishing scammer.

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The FBI has seized 86.5 Ether and twNFTs worth more than $100,000 from a reported phishing scammer.

The alleged scammer in question, Chase Senecal also known as Horror (HZ) online was initially exposed via a lengthy investigation by independent blockchain sleuth ZachXBT posted back in September 2022.

The FBI’s official notification outlined that Seneca’s property  including an Audemars Piguet royal oak watch worth $41,000  was “seized for federal forfeiture for violation of federal law.

The FBI’s notification did not detail much other information on the ordeal apart from noting that all of the property was seized on Oct. 24, 2022. The seized NFTs included Bored Ape Yacht Club#9658 and Doodle #3114, valued at $95,495 and $9,361 respectively, at the time of seizure.

The 86.5 ETH was valued at $116,433 at the time of seizure but is now worth $144,000.

It is unclear what the full scope of legal proceedings that have taken place against Senecal are at this stage. However, according to the FBI’s law enforcement bulletin, federal forfeiture is a law enforcement tool that enables the government to “remove—without compensation for the individual—ownership of property involved in a crime.”

“It may occur in a civil procedure, like a lawsuit against the item, or after the conviction of an individual in a criminal trial,” the FBI states.

While the FBI has not come out with an official tip of the hat to ZachXBT, the on-chain sleuth noted via Twitter on Feb. 3 that the property seizure did come as a result of his investigation.

Notably, the flashy watch was one of the key identifiers that helped ZachXBT unmask Senecal’s identity and on-chain activity during the investigation.

In a medium post from Sept. 2, 2022, ZachXBT explained that after seeing HZ brag about the new watch on social media, he asked “around a few mutual friends who sell watches” and eventually managed to get in contact with the person who sold that specific AP watch to Senecal.

Business

Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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