CryptoScam

The steak was rare, but the losses? Well-done.

At the glitzy $TRUMP token dinner, 220 elite investors toasted what they thought was the next big crypto moonshot. But behind the velvet ropes and champagne flutes? A ticking time bomb.

43% of attendees—95 high-rollers—are now wrecked.
$8.95 MILLION. GONE.

Top trader “GAnt” saw his $1.06M vanish like smoke.
VIP “Meow” purred into the party… and walked out $621K lighter.

Since its hyped January debut, $TRUMP has been on a rollercoaster straight to the basement. Traders “bought the dip”—but this wasn’t a dip. It was a dive.

Was it hype? Greed? A carefully orchestrated celeb-backed rug?

Whatever it was, it’s a case study in FOMO-fueled chaos—and a warning for anyone trading blind in meme land.

I’m pulling back the curtain.
Red flags. Insider moves. And who really cashed out.

Follow for the full autopsy.
Because in crypto, the cost of not paying attention… is everything.

Coinbase, the largest cryptocurrency exchange in the United States, has confirmed a major data breach from December 2024 that exposed sensitive personal information of 69,461 users. Hackers demanded a $20 million ransom to prevent the leaked data from being published on the dark web.
The scale of the attack was disclosed in a filing with the Maine Attorney General. Although Coinbase stated that less than 1% of its global user base was impacted, the breach has triggered multiple federal investigations and potential lawsuits regarding the company’s handling of the incident.

💼 Hackers Bribed Foreign Support Agents to Gain Access
According to Coinbase and sources familiar with the matter, the breach was made possible through social engineering, not through technical vulnerabilities. Attackers targeted customer support agents working overseas — specifically in India — and bribed them with cash in exchange for access to internal systems.
This gave hackers access to personal information, including names, addresses, dates of birth, nationalities, government-issued IDs, banking details, account balances, and KYC-related data. While passwords, private keys, and crypto funds were not compromised, cybersecurity experts warn that such information can still be used for identity theft, impersonation, and fraud.

🕵️‍♂️ Ransom Demands and Delayed Disclosure
Coinbase revealed it received an anonymous ransom email on May 11, several months after the breach took place on December 26. The attackers threatened to leak the stolen information online unless the company paid a $20 million ransom — a demand that Coinbase ultimately refused.
The company stated that it had already identified and dismissed the employees involved in the incident and is fully cooperating with U.S. authorities, including the Department of Justice, which has launched a criminal investigation.

📢 Public Backlash Over Coinbase’s Silence
The company’s delayed disclosure has sparked widespread criticism. Tech investor and TechCrunch founder Michael Arrington condemned Coinbase’s timing, arguing that real people could already be suffering consequences from the breach.
“This has likely already caused harm,” Arrington wrote on X. “The damage can’t just be measured in dollars — it’s measured in human suffering.”

He also criticized existing KYC (Know Your Customer) rules, claiming they provide a false sense of security while exposing users to unnecessary risk. Arrington called for stronger data protection laws and corporate accountability.
“Governments and corporations need to act. The cost of inaction is human suffering,” he added.

💸 Potential Losses Could Top $400 Million
Coinbase estimates the fallout from the breach could cost between $180 million and $400 million, including customer reimbursements, legal expenses, and increased security measures.
Mike Dudas, managing partner at Web3 venture firm 6MV, believes he may be among those affected. He called the breach “a staggering leak of personal data,” warning that the consequences may extend beyond identity theft and include intimidation or blackmail of high-profile figures in the crypto industry.

💬 As crypto companies scale globally, are they doing enough to protect sensitive user data from insider threats?

#CyberSecurity , #CryptoNewss , #Cryptoscam , #CryptoFraud , #coinbase

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

The U.S. Securities and Exchange Commission (SEC) has filed serious charges against Unicoin Inc., a New York-based company, and three of its top executives. The agency claims the company deceived more than 5,000 investors by selling so-called “Rights Certificates” that were supposed to later convert into Unicoin crypto tokens.

🏦 False Claims About Billions in Real Estate
According to the complaint, Unicoin enticed investors with exaggerated claims—such as promises that future tokens would be backed by billions in real estate assets and pre-IPO equity.

In reality, the company held only a fraction of the assets it advertised, and much of the real estate it promoted was largely fictional.

📣 Aggressive Marketing – From Airports to Taxi Ads
Unicoin presented itself as a pioneer in digital investing.

Its promotional campaign included:
🔹 Airport billboards

🔹 Ads in thousands of New York taxis

🔹 TV commercials and social media campaigns
Investors were convinced they were buying a safe next-gen digital investment, with certificates redeemable 1:1 for Unicoin tokens.

🔍 What the SEC Says
According to SEC Deputy Director of Enforcement Mark Cave:
“Unicoin and its leadership exploited thousands of investors with fictional promises that its tokens would be backed by real assets, including a global portfolio of high-value real estate.”

💼 Inflated Numbers, No Real Registration
Investigators identified three major misrepresentations:
False asset backing – claims of billion-dollar reserves were fabricatedExaggerated sales – the company claimed over $3 billion in sales, but actually raised just $110 millionFake regulatory legitimacy – tokens and certificates were advertised as “SEC registered,” though no such registration existed

🧾 CEO Sold His Own Certificates
Unicoin’s CEO, Alex Konanykhin, allegedly sold nearly 38 million of his own certificates, often at a discount.

Also charged: former president Silvina Moschini and former CIO Alex Dominguez.
The SEC is requesting:
🔻 permanent bans on serving as executives in publicly traded firms

🔻 the return of unlawfully obtained profits

🔻 civil penalties for both individuals and the company

⚖️ Company Lawyer Settles and Pays Fine
The lawsuit also names Richard Devlin, Unicoin’s former general counsel, accusing him of repeating false claims in investor materials.
Without admitting or denying guilt, Devlin agreed to settle—he will pay a $37,500 civil penalty and is permanently barred from certain activities.

Summary:
👉 SEC accuses Unicoin and its leaders of $100M fraud

👉 Investors misled by promises of asset-backed tokens and SEC registration

👉 Executives face bans, restitution, and fines

👉 A harsh reminder of how digital hype can lead to very real legal consequences

#SEC , #CryptoFraud , #Cryptoscam , #CryptoSecurity , #CryptoNewss

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“