MicroStrategy (Strategy) Faces Class Action Lawsuit Over Bitcoin Strategy Amid $5.9B Q1 Loss - Still Buys More BTC!
MicroStrategy, now rebranded as "Strategy," is under fire after a class action lawsuit was filed against the company and top executives, including Michael Saylor, CEO Phong Le, and CFO Andrew Kang.
The lawsuit, led by investor Anas Hamza, alleges that Strategy made misleading statements and failed to properly disclose the risks and potential losses tied to its aggressive Bitcoin
Binance Alpha to List SOON (SOON) Token with Airdrop Event Launching May 23 Binance Alpha has announced it will be the first platform to list SOON (SOON), with trading scheduled to commence on May 23, 2025. The listing marks the initial market debut of the SOON token, offering early access through Binance’s Alpha platform. SOON Airdrop Available Through Binance Alpha Points Eligible users will be able to redeem an airdrop allocation of SOON tokens by utilizing Binance Alpha Points. Full details, including the airdrop claim process and activity rules, will be published on the official Alpha event page on May 23. The initiative is part of Binance Alpha’s ongoing efforts to introduce new crypto assets through exclusive trading events and reward mechanisms. #BinanceAlphaAlert
Retired Artist Loses $2 Million in Sophisticated Crypto Scam A shocking incident has sent ripples through the crypto community Ed Suman, a retired artist, lost his entire crypto savings-worth over $2 million-after falling victim to a highly sophisticated scam.
🎨 Who is Ed Suman?
Ed Suman, 67, is a respected retired artist known for his work on high-profile art installations. After retiring, he invested his savings in cryptocurrency, storing 17.5 #BTC and 225 #ETH on a Trezor hardware wallet-a method widely considered one of the safest in the industry.
🕵️♂️ How Did the Scam Happen?
• Phishing Attack: Suman received a text message that appeared to be from Coinbase, warning of suspicious account activity. • Fake Support Call: Shortly after, a scammer posing as a Coinbase support agent called, referencing specific details about Suman’s holdings and convincing him that his hardware wallet was at risk. • Seed Phrase Theft: The fraudster directed Suman to a fake Coinbase website, where he was asked to enter his wallet’s seed phrase for “security verification.” • Funds Drained: Within days, Suman’s entire portfolio was emptied.
What Makes This Case Unique?
Even though Suman used a hardware wallet-a best practice for crypto security-the scam exploited human psychology, not technology. The attackers used personal information (possibly from a recent data breach at Coinbase) to appear credible and trustworthy.
Key Lessons for the Community
• Never Share Your Seed Phrase: No legitimate exchange or support team will ever ask for your seed phrase. • Verify Before You Act: Always confirm the identity of anyone contacting you about your crypto assets, using official channels only. • Stay Informed: Scammers are using increasingly advanced tactics, including leveraging real data breaches and personal details. 💬 Final Thoughts
This incident is a sobering reminder: Stay vigilant, educate yourself and your community, and never let your guard down. #BinancePizza $BTC
They Tortured Him for 3 Hours for His Metamask Password — A Harsh Warning for Crypto Users In a terrifying incident, a South African crypto trader was reportedly held captive and tortured for three hours by attackers demanding access to his Metamask wallet password. The victim managed to survive but lost a significant amount of cryptocurrency after the attackers forced him to give up his keys. This case highlights the extreme risks of holding large amounts of crypto without proper security measures. While digital wallets offer convenience, they also make users targets for violent crimes. Key Takeaways to Protect Yourself: Never share your private keys or passwords with anyone. No legitimate service or support team will ask for them. Use hardware wallets (cold wallets) to store large sums of crypto offline and out of reach from online attacks. Enable two-factor authentication (2FA) on all accounts and wallets. Be cautious about who you reveal your crypto holdings to—avoid public boasting or sharing wallet screenshots. Report suspicious activity or threats to local authorities immediately. Crypto offers immense potential, but safety must always come first. Stay informed and protect your digital assets. #crypto #horrific #BinanceSquareFamily $BTC $BTC #SecurityAlert