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S. Korean influencer allegedly led $232M crypto scam, 215 arrested

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South Korean authorities have arrested 215 individuals in connection with a large-scale cryptocurrency scam that targeted investors through social media influencers. The scheme, which involved fraudulent cryptocurrency trading platforms, saw the perpetrators use popular influencers to promote fake investment opportunities. The authorities launched a crackdown after discovering that the scam had resulted in millions of dollars in losses for unsuspecting victims, many of whom were enticed by promises of high returns on digital asset investments.

The scammers used a network of influencers across various social media platforms to market the fake crypto investment schemes, convincing followers to invest in non-existent or worthless digital tokens. In some cases, the influencers were paid substantial fees to endorse these fraudulent platforms, further fueling the spread of the scam. The South Korean National Police Agency (NPA) led the investigation, which uncovered the complex web of deception and identified the individuals behind the operation.

This mass arrest is part of a broader push by South Korean authorities to combat cryptocurrency-related crimes and protect investors in the growing digital asset market. Cryptocurrency scams have become an increasing concern in South Korea, where retail investors are highly active in the crypto space. The government has been stepping up its efforts to regulate and monitor the sector, aiming to prevent fraudulent schemes and ensure that crypto trading remains secure and transparent for the public.

The arrests highlight the risks that come with the rise of influencer-driven promotions in the crypto market. South Korean authorities have warned that those who engage in promoting or operating fraudulent schemes will face severe legal consequences. The crackdown is expected to serve as a deterrent to other potential scammers, as the government intensifies its efforts to strengthen regulatory oversight and protect consumers from deceptive practices in the rapidly evolving cryptocurrency industry.

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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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