AAVE founder issues health warning to crypto founders after undergoing surgery

AAVE founder Stani Kulechov says he rarely ever thought about his health while reflecting a day after completing critical surgery.

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Compound Finance site potentially breached ZachXBT

Crypto investigator ZachXBT has warned users to avoid the Compound Finance website, which appears to have been hijacked and may be redirecting visitors to a phishing site.

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Fake federal employees target crypto investors, CISA warns

The Cybersecurity and Infrastructure Security Agency (CISA) warns of a surge in impersonation scams targeting crypto investors.

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FTC issues urgent warning over rising crypto romance scams

The FTC asked users to report scammers to the government and warn their loved ones about the scam.

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Bitcoin and Gold Are Breaking Down Near S&P 500 Highs, Analyst Alert

Bitcoin is outperforming the S&P 500 in Mike McGlones view, but it is weakening relative to gold, thus showing deeper market risks.

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Elaborate Elon Musk deepfake crypto fraud uncovered in Hong Kong

A fraudulent crypto exchange platform used AI-generated videos of Elon Musk and misleading information to promote crypto trading services.

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Binance France changes ownership following regulator warning

Former CEO Changpeng Zhao cannot be Binance's beneficiary if it wants to keep its French license.

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Bitcoins Chance for Breakout Increases as It Nears All-Time Highs and Faces $90K Dip Warning

Bitcoin’s chances of breaking out to new all-time highs are increasing as the cryptocurrency market continues its upward momentum. With the potential for prices to reach $90,000, investors are optimistic but should also be cautious of potential dips in the market. The recent surge in Bitcoin’s price has resulted in renewed interest from traders and [...]

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AMF Warns French Investors about Bybit Crypto Exchange

Thecryptocurrency exchange Bybit has experienced significant growth over the pastyear and, after five years of operation, has surpassed 20 million users.However, its expansion is not as dynamic in some regions due to localregulatory challenges.

One suchexample is France, where the local financial commission, AMF, blacklisted Bybittwo years ago. Now, the national regulator issued a new warning to retailinvestors about the exchange, reminding of its lack of authorization in thispart of Europe.

The exchange itself also commented on the matter, reminding that it "proactively exited the French market in October 2023."

AMF Reminds: Bybit isBlacklisted in France

UnderFrench law, digital asset service providers (DASPs) must register with the AMFbefore offering services connected to digital assets, including operating a cryptotrading platform.

Thismandatory registration helps maintain public order though prevention of moneylaundering and terrorist financing, to verify the good repute and competence ofits directors, or even to impose specific measures to protect retail investors,the AMF stated.

Bybit,however, has not registered as a DASP and is therefore operating illegally inFrance. The AMF emphasizes that unregistered platforms providing these servicesviolate French law.

Representatives of Bybit, on the other hand, stated that they "had been working very closely with the AMF and were in the process of seeking a license." Wanting to ensure full compliance with local regulations, the company decided to exit the local market in 2023.

The AMF issued a similar warning against another well-performing cryptocurrency exchange, Bitget, over a month ago. The warning closelyresembles the one concerning Bybit.

AMF Considers LegalAction, Urges Investor Caution

In addition,the AMF reserves the right to take legal action to block the platform'swebsite in France. The regulator is urging French retail investors who haveinvested through Bybit to take necessary measures to avoid losing access totheir assets.

Allinvestors must make arrangements for the eventuality that the platform suddenlyceases to provide services to the public residing in France.

The AMFreminds investors to consult its whitelist of registered DASPs on its website before investing in cryptocurrencies or related assets.

Two monthsago, Bybit also came under scrutiny from another regulator, Hong Kong'sSecurities and Futures Commission (SFC). The SFC warned investorsabout Bybit and several of its offerings, highlighting the cryptocurrencyexchange's lack of licensing and cautioning about the risks of engaging withthe firm. The regulator flagged 11 of Bybit's products as suspiciousinvestments, raising concerns about potential risks to investors.

Second Biggest in Crypto Spot Volumes

However, the exchange appears to be performing well in other regions and continues tointroduce new features. In May, Bybit announced the launch of Bybit P2P Shield,a program designed to enhance user security and trust in its peer-to-peer (P2P)trading platform.

Additionally,Bybit has introduced a new feature to improve the user experience forcrypto purchases. By integrating Google Pay, Bybit is offering a streamlinedapproach to acquiring digital assets, signaling a shift in the landscape ofcryptocurrency transactions.

It is also worth noting that, according to the Finance Magnates Intelligence benchmark, Bybit ranked second among the largest cryptocurrency platforms in terms of spot trading volumes in April.

Bybit's volume in April 2024 reached $138 billion, a sixfold increase compared to the same month the previous year.

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CFTC Warns Youth: Don't Fall Prey to Crypto "Money Mule" Scams

TheCommodity Futures Trading Commission (CFTC) has issued a stark warning, includingcryptocurrencies, to students and young job seekers: beware of becoming anunwitting "money mule."

In a recentadvisory, the CFTC's Office of Customer Education and Outreach (OCEO) cautionedthat criminal organizations target young people with seemingly easy,stay-at-home job offers that involve moving money through bank accounts ordigital wallets.

Money Mules and CryptoWarning

Althoughthe CFTC's warning primarily concerns the phenomenon of "moneymules," it largely also pertains to cryptocurrencies. The agency suggeststhat their decentralization and anonymity make them frequently used forpotentially illegal transactions.

"Duringthis year's Money Mule Initiative campaign, the U.S. Department of Justicereported that agencies took action against more than 3,000 money mules,including criminal charges against 24 individuals," CFTC stated in itsannouncement.

Accordingto the CFTC description, unwitting individuals are asked to transfer fundsbetween cryptocurrencies or blockchains, helping criminals avoid detection andexposing themselves to legal consequences.

"Anestimated $75 billion has moved through digital wallets connected to thesefrauds," noted CFTC, citing a University of Texas study. "Lawenforcement is getting better at tracing and seizing stolen assets onblockchains, so criminals are motivated to 'off-ramp' or convert their tokensto dollars, and may recruit unwitting accomplices to do so."

.@CFTC released a new customer advisory to warn students and jobseekers from becoming Money Mules. It recommends refusing requests to send/receive money to their bank accounts or crypto wallets as work duties. Read the advisory: https://t.co/s5VY4Rnlaj #MoneyMuleInitiative pic.twitter.com/wbjHhpZoxH

How the Money Mule ScamsWork

The joboffers often appear straightforward - set up accounts, send or receive funds,convert dollars to crypto-assets, or buy and deliver goods. In return, the"employee" keeps a portion of the money. However, in reality,transnational crime rings are using these unsuspecting individuals to obscurethe trail of funds obtained through fraud, human trafficking, drug sales, andother crimes.

Besidesfake job postings, the CFTC warns that some may be roped in thinking they arehelping an online friend in need but are actually victims of "pigbutchering" - a type of romance or confidence scam used to fuel moneylaundering networks. Common red flags include:

• "Off-ramping":Converting crypto-assets sent to your digital wallet into dollars to sendelsewhere
• "On-ramping":Using cash to buy crypto, often at a Bitcoin ATM, to forward to another wallet
• "Smurfing":Receiving a large sum of crypto and sending smaller amounts to multiple wallets

Another day, another regulatory advisory that's focused on #crypto. This time it's money mule scams. I look forward to the day when our tech isn't immediately & wrongfully associated with bad actors. https://t.co/9zuvAwj0lV

Steep Consequences forParticipants

While somemoney mules are knowing accomplices, many are unaware they are facilitatingcrime. But the CFTC underscores that participating in money laundering, evenunwittingly, can lead to criminal charges and destroyed trust in one'sidentity.

Youngpeople looking for summer jobs may be just looking for part-time income andcould be attracted to offers that require being online a few hours a day, saidMelanie Devoe, the director of OCEO. Unfortunately, they could becomeunwitting accomplices to money laundering or what the criminals call moneymules, and that association could land them in jail.

The CFTCadvises that if approached online to move money, immediately ceasecommunication. If you've already received funds from someone met online, notifyyour bank and consider changing accounts. Most importantly, do not forward themoney and immediately alert the authorities, including filing reports with thepolice.

Last month, the CFTC, together with federal prosecutors, took another crypto action and charged KuCoin and two of its founders with breaching anti-money laundering (AML) regulations. The charges state that KuCoin was functioning within the United States without the necessary registrations and did not uphold a sufficient AML program.

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Bitcoin Decouples as Stocks Shed $3.5 Trillion Due to Trump Tariff War and Feds Warning of Rising Inflation

As Bitcoin remains uncorrelated, stocks take a hit amidst Trump’s tariff war and the Fed’s warning of potential higher inflation. In a volatile market, Bitcoin continues to prove its resilience and lack of dependence on traditional assets. The recent turmoil in the stock market, exacerbated by escalating trade tensions between the US and China, has [...]

The post Bitcoin ‘Decouples’ as Stocks Shed $3.5 Trillion Due to Trump Tariff War and Fed’s Warning of ‘Rising Inflation’ appeared first on Crypto Breaking News.

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Bithumb Designates SANTOS, PORTO, and LAZIO Tokens as Investment Warning Assets

Bithumb has announced new Investment Warning designations for SANTOS, PORTO, and LAZIO tokens due to low liquidity and manipulation risks. (Read More)

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Ledger Warns Users of Scam Letters Demanding Seed Phrases

Ledger warns users about a new scam involving fake physical letters requesting seed phrases.

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Why Bitcoin Investors Should Exercise Caution During Rally While Watching for Lagging Stablecoin Indicator: Analysts Warning

Bitcoin Price Surge: Crypto Analyst Urges Caution as Stablecoin Indicator Lags Behind The recent rally in Bitcoin prices has caused excitement among investors, but one crypto analyst is warning of potential risks ahead. The stablecoin indicator, which typically predicts market movements, is currently lagging behind the surge in Bitcoin prices. Stablecoins are digital assets pegged [...]

The post Why Bitcoin Investors Should Exercise Caution During Rally While Watching for Lagging Stablecoin Indicator: Analyst’s Warning appeared first on Crypto Breaking News.

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FMA Cracks Down on These Two Companies amid Fraud Concerns in New Zealand

TheFinancial Markets Authority (FMA) of New Zealand has been actively combatingfraudulent activity and scams in the country's financial markets. In a seriesof recent actions, the regulator has taken steps to protect consumers andmaintain market integrity by cancelling one crowdfunding services license andissuing a warning against a cryptocurrency company.

FMA Cracks Down onFraudulent Activity and Scams

Accordingto the update on Wednesday, the FMA cancelled the crowdfunding services license ofEquitise Pty Ltd, an equity crowdfunding service provider licensed since 2014.The cancellation followed Equitise's significant breach of certain marketservices licensee obligations and its failure to meet statutory requirements.

The companyfailed to provide its financial reporting and agreed upon procedures reporting,and was deregistered from the Financial Service Providers Register (FSPR) forfailing to file its annual confirmation within the required timeframe.

"Cancellinga provider's licence is one of the strongest regulatory actions we can take andis not a decision the FMA takes lightly, Peter Taylor, the FMA Director ofSpecialist Supervision and Response, stated, emphasizing the severity ofthe action. Financial service providers must make sure they are able to meetthe legislative requirements and act lawfully. The rules are there to protectconsumers and to ensure market integrity."

In anotherwarning, the FMA cautioned investors about AxonExchange, a suspectedcryptocurrency exchange scam. The platform claims to be based in New Zealandbut is not an incorporated company in the country and is not authorized orregistered on the FSPR to provide financial services.

The FMA isconcerned that AxonExchange is operating a scam, prompted by an investor's complaint of difficulty withdrawing funds from the platform.

Rising Number of Impostorsin New Zealand

Theregulatory authority in New Zealand has raised concerns about an increase inimpostor-related scams, particularly highlighting the rise in fake productdisclosure statement frauds. In 2023, there were 82 warnings issued regardingsuspected investment scams and impostor websites, as well as 22 warningsconcerning unregistered businesses. This marks a significant uptick in effortsto alert the public about these deceptive practices.

Additionally,the FMA has reported an emerging trend where scammers impersonate anotherregulatory body, specifically the UKs Financial Conduct Authority. Thesescammers send emails to New Zealand residents claiming they can assist inrecovering funds lost in previous scams.

Accordingto a report published by the FMA at the end of last year, while the totalnumber of crime warnings decreased to 89 in 2023 from 111 the previous year,there was a noteworthy increase in the number of impostors and imposterwebsites. The report noted 29 such cases in 2023, a significant rise fromprevious years when similar cases were isolated and not statistically relevant.

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Crypto Executive Issues Warning About Elusive Comet Threat After 75% Asset Loss

The CEO of Emblem Vault suffered a significant loss of 75% of their assets due to a deceitful scam involving the elusive Comet. This unfortunate incident serves as a stark reminder of the risks that can come with investing in the volatile world of cryptocurrencies. The scam, which saw the CEO being tricked into transferring [...]

The post Crypto Executive Issues Warning About ‘Elusive Comet’ Threat After 75% Asset Loss appeared first on Crypto Breaking News.

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Beware of Classic Bull Trap: Crypto Trading Firm Issues Warning as Bitcoin Hits $82.7K

A prominent cryptocurrency trading company has issued a cautionary statement about a potential classic bull trap scenario in the Bitcoin market. Bitcoin has recently tagged $82.7k, prompting concerns among traders. The company emphasized the need for investors to exercise caution and not fall for potential traps that could lead to significant losses. The cryptocurrency market [...]

The post Beware of Classic Bull Trap: Crypto Trading Firm Issues Warning as Bitcoin Hits $82.7K appeared first on Crypto Breaking News.

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Billionaire Ray Dalio Warns US and China on Brink of War, Beyond Ability to Talk — US-China Trade Could Collapse

Bridgewater Associates founder Ray Dalio has warned that the U.S. and China are “on the brink of war” and “are beyond the ability to talk.” The billionaire added that their relations “are getting so bad” that U.S.-China trade could collapse. He cautioned that the next 18 months “will be a very risky period.” U.S. and [...]

The post Billionaire Ray Dalio Warns US and China on Brink of War, Beyond Ability to Talk — US-China Trade Could Collapse appeared first on Crypto Breaking News.

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SEC Chair Gensler Cautions About Crypto Investing Warns Thousands of Crypto Tokens May Be Securities

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has cautioned about crypto investing. “This is a highly speculative asset class. One could just look at the volatility of bitcoin in the last few days,” he stressed, warning that thousands of crypto tokens may be securities. Gary Gensler’s Crypto Investment Warning The chairman of the [...]

The post SEC Chair Gensler Cautions About Crypto Investing Warns Thousands of Crypto Tokens May Be Securities appeared first on Crypto Breaking News.

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Bitcoin Faces Rejection At $84,000, But Analysts Show 2020 Similarities Recovery Ahead?

Bitcoin (BTC) has failed to reclaim $84,000 resistance again and has fallen 4% to retest another crucial support zone. Some analysts suggested that the cryptocurrencys rally will be determined by its weekly close, which could see BTC crash or climb to new levels. Related Reading: Solana (SOL) Retests Crucial Support Level Is A 50% Price Drop On The Horizon? Bitcoin Hits $84,000 Wall Again After losing the $84,000-$86,000 support zone on Sunday, Bitcoin has failed to reclaim this level. The flagship crypto has retraced over 11% in the past week, briefly falling to a 4-month low of $76,600 on Monday. Since then, BTCs price has hovered between the $80,000-$84,000 range, failing to break above the ranges upper zone for the past four days. Crypto analyst Jelle noted that this resistance level has been a key level throughout the first half of March. Notably, the $84,000 mark served as an important bounce level during the start-of-month price pump and correction, and reclaiming it will make all the difference for how the rest of the month goes. Bitcoin has attempted to regain this level in the past 24 hours, climbing to $83,900 on Thursday morning. To the analyst, a reclaim of $84,000 could propel the price back to the post-election breakout range, and things would get real interesting. Ali Martinez pointed out that the biggest supply barrier for Bitcoin sits at the $95,000 range, where 1.2 million investors purchased 726,000 BTC. He also noted that the largest cryptocurrency by market capitalization is consolidating within an ascending triangle, which could lead to a 9% surge to the $90,000 mark if it breaks out above $84,000. Nonetheless, BTC failed to reclaim this key resistance and retraced to the $80,000 support zone. Jelle warned that bulls need to defend the current area, or this could cascade towards the high seventies once more. Is BTCs Cycle Top Or Bottom In? Ted Pillows suggested that BTC is poised for another leg up as its price action resembles previous performances. He highlighted that Bitcoin has held its ascending support trendline like in 2017 and 2020, which shows that the cycle isnt over yet. Based on this historical price performance, the analyst considers that the cryptocurrency could retest the $72,000-$74,000 support before a local bottom is in. After that, there’ll be some consolidation followed by the next leg up, he explained. Trader Titan of Crypto pointed at a potential reversal as BTC is showing signs of bottoming on the weekly chart with the Relative Strength Index (RSI) as support, an Oversold Stochastic RSI bullish crossover, and price at the lower Bollinger Band. He also noted that BTCs price action resembles 2020s market structure before a major breakout. Related Reading: Ethereum Risks Another 15% Correction After Fall Below $2,000 Whats Next For ETH? Meanwhile, analyst Nebraskangooner affirmed that Bitcoin has been historically predictable, which suggests that its weekly close range will be key for the next move. According to the post, if BTC closes the week below $67,250, it would potentially indicate the market has already hit the top, as it would become a distribution range. The analyst explained that the cryptocurrency has respected the distribution, accumulation, and instant reversal levels in every BTC bear market. If Bitcoin remains historically predictable, the cryptocurrency could fall to levels not seen since late 2023 and early 2024. As of this writing, BTC trades at $80,810, a 3.4% decline in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

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