SaleemAmeer

Fidelity Investments is in the final stages of testing its own stablecoin as Washington moves toward new crypto oversight.

One of the largest asset managers in the world, Fidelity Investments, appears to be quietly piloting its own stablecoin as it expands further into digital assets.

According to a Financial Times report, which cites two sources close to the matter, the $5 trillion fund giant is in the advanced stages of testing a token that would function as cash in cryptocurrency markets. While details remain unknown, the stablecoin is said to be managed through Fidelity’s digital assets arm.

It remains unclear whether Fidelity intends to make its stablecoin available to retail traders in the same open manner as the two largest stablecoin issuers, Tether and Circle, or if access will be limited to institutional investors only. As of press time, Fidelity has not issued any public statements on the matter.

You might also like: WLFI confirms launch of USD1 stablecoin backed by U.S. treasuries
The latest development comes just days after the Boston-based financial giant submitted a proposal to introduce a blockchain-based version of its U.S. dollar money market fund. The proposal, filed with the U.S. Securities and Exchange Commission, seeks to register an “OnChain” share class of the Fidelity Treasury Digital Fund, which invests in cash and U.S. Treasury securities.

As crypto.news reported earlier, tokenized U.S. Treasury debt is now the second-largest contributor to the total value of tokenized real-world assets, with a market capitalization of $4.80 billion, trailing only private credit funds, which hold $12.20 billion, per data from rwa.xyz.

Read more: Cboe BZX officially files 19b-4 for Fidelity’s Solana ETF

Donald Trump’s World Liberty Financial (WLFI) has again made a big move in the crypto space. This time, the DeFi project looks to have deployed a stablecoin on the BNB Chain. Binance’s former CEO, Changpeng Zhao, also reacted to this development and welcomed WLFI aboard.

Trump’s World Liberty Financial Launches Stablecoin On BNB Chain
Onchain data indicates that World Liberty Financial has issued a stablecoin on the BNB chain named USD1. The token still looks to be in the testing phase, with market maker Wintermute among those who have carried out test transactions.

Onchain data also shows that the stablecoin launched twenty days ago. However, it is unclear why there hasn’t been an official announcement from WLFI if, indeed, the DeFi project deployed the token.

Although World Liberty Financial has yet to make an announcement, Binance founder Changpeng “CZ” Zhao reacted to this development, welcoming the DeFi project aboard the top layer-1 network. CZ also noted that the smart contract was deployed 20 days ago.

Interestingly, this move comes amid reports that Donald Trump’s family is eyeing a stake in Binance US and that CZ is seeking a pardon from the US president. However, the Binance founder denied these reports. As such, there may be no connection between these developments.

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BNB Chain Launches Liquidity Program
Amid World Liberty Financial’s supposed stablecoin issuance, the BNB Chain has launched a $100 million permanent liquidity program. The network remarked that this initiative aims to further enhance its ecosystem’s liquidity and foster project growth by incentivizing exchanges to list native BNB Chain tokens, thereby strengthening on-chain liquidity and solidifying market foundations.

BNB further announced that this round of liquidity support will cover all sectors, including meme, AI, DeFi, gaming, and more. The network stated that rewards will be distributed on a first-come, first-served basis to projects that meet the criteria.

One of the criteria is the exchange that lists the token. BNB categorized the exchanges into T1, T2, and T3. T1 includes top crypto exchanges Binance, Coinbase, and Upbit. Tokens that achieve listings on these exchanges will receive up to $500,000. Meanwhile, tokens listed on T2 and T3 exchanges will receive up to $250,000 and $50,000, respectively.
#TRUMP
#bnb
#USD

Tron founder Justin Sun has waded into the ecosystem’s conversation amid a push to explore avenues to enhance the protocol’s deflationary status. The Tron ecosystem is pushing a new proposal to implement a Bitcoin-like halving for TRX. In his post on X, Justin Sun revealed how the move will not disadvantage current validators in the ecosystem.

Justin Sun and Advocacy for TRX Halving
As explained on X by the Tron founder, Bitcoin developers had to evolve to limit their reward to users involved in crypto mining at the time. Going back memory lane, he noted that Bitcoin had to create an attractive 50 BTC per block reward to bootstrap the network.

However, as the protocol grew, halving helped reduce the incentives to a sustainable level. Liking it to the Tron ecosystem, Justin Sun recounted that TRX is a deflationary asset that drops 1% per year. This made it the only deflationary asset among the top assets.

As revealed, the massive rally in the price of TRX has pushed up the reward considerably. This, he believes, might make sense if a moderate slash is approved by the community. Per the analogy, he noted that the Tron ecosystem can achieve a 1.5% per year deflation by paying out about 1 million TRX in validator rewards daily.

Notably, increasing this daily payout to 2 million TRX will increase deflation by 2% per year. To Sun, even if the community approved the halving reduction, Tron will remain an attractive chain for miners.

The Tron Ecosystem Updates
Beyond the TRX halving clarification, Justin Sun has been front-running many positive ecosystem updates. Over the past week, the Tron Founder has revealed the push for Tron integration on Solana. This partnership is poised to increase the transfer of native tokens across both chains.

In addition, the ecosystem is also being increasingly embraced by top industry stakeholders. CoinGape reported that Justin Sun was appointed an advisor to President Trump-linked World Liberty Financial International (WLFi).

Since then, TRX has remained a favorite for the coin in WLFi’s portfolio. Reports also show that TRX may bag an inclusion in the crypto reserve that the US government is putting together.

TRX Price and Performance Outlook
The price of TRX remains under the radar amid the growing shift in network supply and related trends. When writing, the coin changed hands for $0.2366, up by 0.13% in 24 hours. Amid the week-long fluctuations, the coin’s price rose from a low of $0.2305 to a high of $0.2373, showing a relatively mild volatility.

However, earlier TRX price predictions from Sun teased the coin as hitting an all-time high soon. Analysts remain speculative about how the Tron halving proposal will shape out and its impact on price.

#TRX

The International Monetary Fund (IMF) has overhauled its balance of payments standards to reflect the growing impact of digital assets.

According to the newly released Balance of Payments Manual, Seventh Edition (BPM7), cryptocurrencies like Bitcoin (BTC) are now classified as non-produced nonfinancial assets, while certain tokens are treated akin to equity holdings.

The updated manual, published on March 20, marks the first time the IMF has integrated detailed guidance for digital assets into its global statistical standards.

Crypto without liabilities
The framework divides digital assets into fungible and nonfungible tokens, with further distinctions based on whether they have a corresponding liability.

Bitcoin and similar tokens without liabilities are categorized as capital assets, while stablecoins, which are backed by liabilities, are treated as financial instruments.

According to the IMF:

“Crypto assets without a counterpart liability designed to act as a medium of exchange (e.g., Bitcoin) are treated as non-produced nonfinancial assets and recorded separately in the capital account.”

In practice, this means cross-border crypto flows involving assets like Bitcoin will be recorded in capital accounts as acquisitions or disposals of non-produced assets.

Meanwhile, tokens with a protocol or platform — such as Ethereum or Solana (SOL) — may be classified as equity-like holdings under the financial account if their owner resides in a different country from the originator.

For example, if a UK investor holds Solana tokens issued from the US, the position would be recorded as “equity crypto assets,” paralleling traditional foreign equity investments.

The IMF notes that such assets, despite the reliance on cryptography, are considered comparable to standard equity in terms of ownership rights.

Staking rewards and validation services
In a nod to the complexity of staking and yield-bearing crypto activities, the IMF also stated that staking rewards earned from holding these tokens may resemble equity dividends and should be recorded under current account income, depending on the holding’s size and purpose.

The manual introduces a conceptual shift for countries compiling macroeconomic statistics, aiming to improve visibility into the economic impact of digital assets and related services.

Transactions involving the validation of crypto asset transfers — such as mining or staking — are to be treated as the production of services, adding them to computer services exports and imports.

The BPM7 manual was developed through global consultation involving over 160 countries and is expected to guide official statistics for years to come.

While implementation will vary by jurisdiction, the IMF’s move marks a significant step toward recognizing the macroeconomic relevance of digital assets in a standardized and globally comparable format.
#IMF
#crypto
#cryptocurreny

NEW YORK — With the U.S. government's help, the crypto industry will become a dominant in finance, U.S. President Donald Trump said Thursday.

Crypto is "as big as you can get," he said during a five-minute taped speech at the Digital Asset Summit in Manhattan. Trump was met by a full room of attendees, many of whom entered the room just before his scheduled speech and who immediately vacated after he wrapped up.

"Pioneers like you will be able to improve our banking and payment system and promote greater privacy, safety, security and wealth for American consumers and businesses alike," he said. "You will unleash an explosion of economic growth."

Trump noted that his administration has already stopped selling seized Bitcoin and has brought together industry leaders with his government's officials. Many of his remarks echoed his statements from that summit, which took place in the White House earlier this month.

“We’re ending the last administration’s regulatory war on crypto and Bitcoin, and that includes stopping the lawless Operation Choke Point. Operation Choke Point went beyond regulation, and I mean far beyond. Frankly, it was a disgrace," he said in what was his second appearance at a crypto conference, after a campaign stop at Bitcoin Nashville in 2024. “But as of January 2025, all of that is over.”

Trump has already signed two executive orders tied to digital assets since taking office for his second term on Jan. 20, after previously creating a working group for digital assets and establishing a Bitcoin reserve using previously seized assets.

Speculation ahead of Thursday's speech included rumors that his order would address crypto debanking or crypto taxes, though ultimately he did not announce any new actions, instead reiterating what his administration has already done.

"It's an honor to speak with you about how the United States is going to dominate crypto and the next generation of financial technologies," he said. "And it's not going to be easy, but we're way ahead."

Trump has courted the crypto industry over the past year, starting with the 2024 presidential campaign. Since taking office, he's continued showing his support for the industry, both through his executive actions and through his regulators' efforts to roll back actions brought under the previous administration of Joe Biden.
#crypto

Volatility Shares will launch the first-ever Solana (SOL) futures exchange-traded fund (ETF) in the US on March 20, Bloomberg News reported on March 19.

The issuer will introduce two products: the Volatility Shares Solana ETF (SOLZ) and the Volatility Shares 2X Solana ETF (SOLT).

Bloomberg ETF analyst Eric Balchunas compared them to Bitcoin (BTC) ETFs BITO and BITX. He also noted that the launch is unlikely to live up to the standards set by spot Bitcoin ETFs.

He added:

“It’s the first altcoin after Ethereum to be approved. But history has shown that ETF investors crave holding the physical asset as much as possible.”

Expanding SOL offering
SOLZ will provide exposure to Solana futures, while SOLT will offer leveraged exposure at twice the returns of Solana futures movements. The ETFs carry expense ratios of 0.95% and 1.85%, respectively.

Volatility Shares initially submitted its application to the US Securities and Exchange Commission (SEC) in December, continuing the trend of crypto-based ETFs predicted by Bloomberg analysts Eric Balchunas and James Seyffart.

Volatility Shares CEO Justin Young credited the launch to “renewed optimism for crypto innovation in the US” brought by President Donald Trump’s administration.

While the SEC has not approved a spot Solana ETF, industry analysts see these futures-based funds as a potential precursor. Bitcoin and Ethereum took a similar path, with issuers introducing futures ETFs before gaining approval for spot ETFs.

Appetite for futures
The first Solana futures started trading on the Chicago Mercantile Exchange (CME) on March 17.

K33 head of research Vetle Lunde highlighted that the launch day volumes of SOL futures reached $12.3 million, significantly below BTC’s $102.7 million and ETH’s $31 million.

Open interest was also substantially smaller, with SOL futures reaching nearly $8 million, while BTC and ETH reached at least $20 million in their launches.

Despite the seemingly lackluster numbers, Lunde said that by normalizing volumes to the assets’ market caps at launch days, Solana aligns with both Bitcoin and Ethereum.
$SOL
#solonapumping
#treding

The Trump administration plans to aggressively acquire Bitcoin through budget-neutral methods that won’t impact taxpayers, said Bo Hines, the executive director of the Presidential Council of Advisers for Digital Assets, during a panel at Blockworks’ Digital Asset Summit 2025.

“The President was adamant about creating the SBR. We wanted to make sure that we did it right in a way that respected Bitcoin for being so unique and also gave credence to innovation and other spaces in the digital asset world,” Hines said.

The administration views Bitcoin as a commodity rather than a security, emphasizing its intrinsic stored value and unique characteristics.

“Bitcoin, it’s not a security, it’s a commodity. It has intrinsic stored value, it’s traditionally accepted. It has, as David likes to describe, the immaculate conception. There’s no issuer,” Hines explained.

Hines, appointed by President Trump to lead the Crypto Council, is working with the White House’s crypto and AI czar David Sacks to facilitate innovation and growth in the crypto sector.

“It’s something that’s imperative for the United States to have, retain, continue to build on,” Hines stated, drawing a parallel between Bitcoin and gold.

Hines added that the administration is focused on finding ways to acquire more Bitcoin without burdening taxpayers, targeting “budget-neutral” approaches.

He said that Trump’s Crypto Council is collaborating with the Treasury and the Secretary of Commerce to identify viable acquisition strategies.

When asked about acquisition targets, Hines compared it to asking how much gold a country wants, implying a desire to acquire as much as possible.

“That’s like asking a country, how much gold do you want? Right? I mean, as much as we can get,” he said.

In an interview with CNBC’s Squawk Box earlier this month, Treasury Secretary Scott Bessent, a known Bitcoin advocate, said that Bitcoin acquisition plans are in discussion but the first step would be to prevent further liquidation of seized Bitcoin by the government.

Bessent stated that the next step would be to explore strategies for additional BTC acquisitions. He also noted that while Bitcoin is the focus, the initiative aims to encompass a broader crypto reserve.

Shiba Inu ecosystem team calls Elon Musk’s attention to its achievements from 2021 to 2025, showcasing SHIB’s evolution from a meme coin to a utility project.

Shiba Inu has experienced significant growth since its launch. SHIB, which launched as a meme coin in August 2020, has grown into a major ecosystem with multiple projects.

In addition, its ecosystem tokens, particularly SHIB, witnessed remarkable growth that saw its value surge over 150 million percent to an ATH of $0.00008616.

5 Major Shiba Inu Achievements
Despite Shiba Inu’s achievements going viral in the crypto community, the team recently called on Musk to educate him about the cryptocurrency’s successes from 2021 to 2025.

Lucie, the leader of marketing at Shiba Inu’s ecosystem, highlighted these achievements in five major points.

Shibarium
At the top of the list is Shibarium, Shiba Inu’s Layer-2 blockchain built on Ethereum. Recall that Shiba Inu ecosystem developers launched the L2 blockchain in August 2023. Lucie claims that Shibarium is fast and cheaper to use when powering decentralized applications (dApps).

Notably, she highlighted ShibDev, a platform that provides developers with the relevant tools to build on Shibarium. The marketing lead also emphasized that Shibarium powers gaming and can be adopted for real-world use cases.

Games and Metaverse
Second, the Shiba Inu ecosystem team included its multiple games and the metaverse project in the list of its achievements over the past few years.

So far, the team has launched five games within the ecosystem: Shiba Eternity, Lap Dogs, Shibridge, Shiboshi Rush, and Agent Shiboshi. The ecosystem also has a functional metaverse project in the form of SHIB: The Metaverse.

The post suggests that these projects are not just for fun but are designed to give users real rewards.

Partnerships
Another remarkable milestone Shiba Inu has achieved between 2021 and 2025 is its numerous collaborations with top projects such as K9 Finance, Chainlink, and Zama.ai.

Interestingly, the UAE government is also Shiba Inu’s official partner. The partnership, signed earlier this year, will see the UAE government utilize Shiba Inu’s technology to boost its citizen-focused governance.

Lucie noted that these partnerships aim to advance blockchain, AI, and finance to the next level.

Shib OS
Furthermore, Lucie highlighted Shiba Inu OS (Shib OS) as another achievement made by its developers. Introduced earlier this year on Shibarium, Shib OS serves as a game-changer for builders and everyday users. It creates an all-in-one ecosystem featuring relevant gaming, transactions, and governance tools.

Lucie suggested that with Shib OS, Shiba Inu’s real-world applications extend beyond crypto into other sectors.

Shib Torch
Finally, the marketing lead highlighted Shiba Inu’s burn portal, Shib Torch, as one of its developmental achievements. This burning mechanism, released last year, seeks to reduce SHIB’s circulating supply by burning the token using a fraction of Shibarium transaction fees.

Lucie suggested that this continuous incineration aims to amplify SHIB’s shift from a meme coin to a utility project.

Furthermore, she indicated that the Shiba Inu ecosystem development team did not just create hype by building; it changed the game. In a follow-up comment, she mentioned that the team is still building and hoping that these efforts will drive the growth of the ecosystem assets’ values.

In the meantime, Musk has yet to respond to these comments.
#ElonMuskTalks
#Shibalnu

Solana, the layer-one blockchain platform, celebrated five years since the launch of its mainnet on March 16, 2020.

To celebrate the milestone, the network shared its accomplishments, which include more than 1,300 validators, nearly $1 trillion in trading volume, and over 408 billion total Solana transactions,
Solana (SOL) was founded in 2017 by Anatoly Yakovenko with the goal of addressing the primary challenge facing blockchain technology. The network aims to strike the right balance between scalability, security, and decentralization.

When combined with proof-of-stake, Yakovenko’s proof-of-history system speeds up transaction processing. Solana has been able to grow while maintaining low costs as a result.

More than 254 million blocks have been generated by Solana since its mainnet went live in March 2020. Since then, the network has grown to be a major force in decentralized finance, with over $7 billion in total value locked in its protocols, according to DeFiLlama data.

Meanwhile, Solana’s stablecoin market has reached $11 billion, down from its peak of over $12.6 billion in February 2025. Similarly, its market cap, which once peaked at $127.5 billion, now stands at $65 billion.

Developer interest in Solana has also significantly increased. It surpassed Ethereum as the most popular blockchain for new developers in 2024. According to Electric Capital’s 2024 developer report, Solana attracted 7,625 new developers in the previous year, accounting for 19.5% of all new entrants in the market.

On Mar. 17, CME Group plans to introduce Solana futures contracts, subject to regulatory clearance. These futures, which are intended to assist investors in protecting themselves from price swings, indicate that Solana is becoming a more widely accepted asset in the cryptocurrency market.

Furthermore, Solana has been included in several exchange-traded funds applications, indicating its increasing mainstream acceptance and room for growth.
#solana
#crypto
#cryptocurreny

The crypto market continues to dominate the evaluation of DAO projects and finds its top selections through social activity measurements. According to a PHOENIX report, the Internet Computer ($ICP) project stands at the top of social interactions with 4.9K engagements and 499.9K engaged posts.
TOP #DAO PROJECTS BY SOCIAL ACTIVITY$ICP $TAO $ARB $APE $UNI $RARE $SKY $AAVE $CAKE $PEOPLE

— PHOENIX – Crypto News & Analytics (@pnxgr
The TAO platform maintains 4.8K engagements on its way to reaching 939.7K engaged social posts. The social metrics of Arbitrum ($ARB) include 4.8K engagements that resulted in 281.7K engaged posts. The recorded numbers show extensive user involvement and project-related conversations between users.

Performance of Leading DAO Tokens
The social activity in the ApeCoin ($APE) community stands strong based on its 3.8K engagements and 311.9K engaged posts. Uniswap ($UNI) shows its impact within decentralized finance (DeFi) by achieving 3.0K engagements and 312.6K engaged posts in social media. Rare ($RARE) continues to attract high engagement from its audiences at 2.7K while Sky ($SKY) drives 2.6K interactions. The number of engaged posts on $RARE accounts for 267.9K while SKY reached 136.9K.

The social activities of Aave ($AAVE) and PancakeSwap ($CAKE) demonstrate consistent stability through their recorded numbers of 1.8K and 1.7K engagements. $AAVE functions as an essential DeFi ecosystem participant through its 306.1K engaged posts because $CAKE maintains a similar number of engagements.

Community Activity in the DAO Sector
People ($PEOPLE) maintained 1.7K engagements and produced 112.4K engaged posts. Evidence shows that the project community keeps its discussion about the project ongoing. The research confirms that DAO projects continue to advance within the cryptocurrency marketplace.

A strong social engagement metric helps evaluate community power and investor sentiments toward future adoption. The research demonstrates that governance systems based on community involvement are becoming more prevalent because multiple projects succeed in keeping their communities actively involved.

A Bitcoin whale is facing potential liquidation after placing a high-stakes $380 million short position. Speculation is growing that this investor may have inside information about the US President Donald Trump. Meanwhile, a group of traders is reportedly working together to push BTC price high enough to trigger the liquidation, turning this into a major crypto showdown.

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Bitcoin Whale Faces Liquidation Woes
According to market expert Gordon, a whale has doubled down on a massive Bitcoin short. Initially, the investor placed a 40x leverage bet worth $380 million. However, after adding to the position, their new liquidation price stands at $86,593.

“There seems to be a group of whales trying to pump BTC to liquidate him.” Gordon wrote in a post on X. The move suggests coordinated action among traders, a rare but not unheard-of event in the crypto world. Notably, a latest report from CoinGape also showed that BTC might continue its rally amid rising whale activity.

Trump Insider Link Fuels Speculation
Adding to discussions, the whale is rumored to have insider knowledge about US President Donald Trump. According to an update from Ash Crypto, this investor allegedly placed their short position based on confidential information. Ash Crypto wrote:

“Trump insider whale who opened a $380 million bitcoin short with 40x is being hunted publicly on “ X ” by a group of people who are trying to liquidate him at $86,600.”

If the speculation holds true, it raises questions about whether political developments could influence Bitcoin’s future price movements. Trump’s stance on cryptocurrency has shifted over time, making any connection between him and the whale’s move a subject of intense debate.

Besides, the announcement of the Bitcoin Strategic Reserve in the US has further fueled speculations in the market.

Liquidity Providers Enter the Game
In a striking development, liquidity provider CBB also weighed in on the unfolding drama. In a recent X post, the account stated:

“If you are willing to hunt this dude with size, drop a DM, setting up a team right now and already got good size.”

Shortly after, CBB followed up with a cryptic message: “The hunt has begun.” This statement suggests a coordinated effort is now underway to force Bitcoin’s price up and trigger the whale’s liquidation. If successful, it could lead to a sudden price surge and increased market volatility.

Bitcoin Price & Performance
BTC price today was down around 1% and exchanged hands at $83K, while its one-day volume rocketed 93% to $24 billion. The crypto has touched a 24-hour high and low of $85,051.60 and $82,017.90, respectively. Despite the current loss, the flagship crypto has recorded gains of more than 1% in the last seven days.

Meanwhile, amid the gloomy performance, a report showed that BTC price might crash to $20K if the US stock market enters a “BEAR MARKET”, which has further escalated tensions. Having said that, investors are keeping close track of the latest BTC movements, with soaring speculations over potential insider trading in the market.
#bitcoin
#TRUMP

Bitcoin is currently consolidating after rejecting a key resistance level. The price is now testing support around $82,000 to $83,000, with a next support level near $76,000 if it falls further.

Despite the volatility, Dan Tapiero, Managing Partner, CEO and CIO of 10T Holdings, remains bullish. He explained that the shift in the U.S. government’s stance toward crypto—particularly under the Trump administration—has been one of the most important developments in recent years.

Tapiero fully expected Bitcoin to hit the $100,000, which it did, as round numbers like this often act as psychological barriers. He now forecasts that Bitcoin will consolidate between $70,000 and $100,000 for a period, before eventually pushing higher.

Related: ARK Invest Buys $80M in Bitcoin from Coinbase in a Single Day

Long term, he’s aiming for a potential target of $180,000, though he believes this is more likely either later this year or early next year.

While acknowledging ongoing fiscal tightening and market uncertainty, Tapiero is confident these challenges will be offset by future interest rate cuts, with the fundamentals for Bitcoin remaining strong, despite the current consolidation phase.

Are Altcoins a Good Investment Right Now?
Here’s where Tapiero gets blunt. A lot of people were surprised when Bitcoin hit $100,000 and started to stabilize, he noted.

However, altcoins have continued to struggle. In fact, Tapiero flat-out warns that many altcoins are likely to fail and end up going to zero. He said that some altcoins are still searching for a use case, and some, like meme coins, have drained liquidity from the market. Tapiero pointed out that the market is flooded with altcoins like Trump coin and memecoins on Solana, many of which don’t have clear use cases.

Related: XRP Defies Market, Outperforms Bitcoin on Key Indicator: Analysis

He also explained that while major altcoins like Ripple and others with strong networks and use cases have performed reasonably well, most of the speculative coins will likely fail. Tapiero believes this is just another cycle in which the majority of these tokens will eventually disappear. In other words, choose your altcoins carefully.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
$BTC
#bitcoin

A new phishing scam, disguised as a LinkedIn job offer, is rapidly targeting blockchain engineers. This phishing scam is unmasked by SlowMist, a firm for blockchain security and threat intelligence. The latest case is witnessed by Bruno Skvorc from his official X account. This case underscores the threat lying behind a legitimate recruitment message.

The attackers disguised themselves in the form of blockchain-based gaming, that is, the Socifi game, and staking platform. They have lured victims, offering them high-paying job opportunities. The recruiting process seemed professional, turning sinister after the scammer provided a malicious code, a Bitbucket repository.

SlowMist Recognizes Malware in Phishing Scam
The SlowMist researchers have closely examined the code and searched encoded malware in the provided server. This malware was constructed in a way to rob sensitive and important user data. After running the unsuspecting developer’s code, it appeared to connect with malicious command-and-control (C2) servers. It contains some hidden scripts, aiming to steal sensitive details from the system and SSH keys.

These scripts are also designed in the way to extract the stored credentials in macOS keychains extension data from the browser. Interestingly, the malware was designed to bypass security observing tools such as Little Snitch. Through this, the attackers remained undetected while robbing sensitive and valuable crypto assets.

SlowMist to Provide Guidelines to Stay Secure from Recruitment Scams
SlowMist provides significant advice to both individuals and enterprises for lowering the threats. The platform gives a useful piece of advice to stay cautious while getting job offers, having downloaded external code.

With the help of official channels, the users should verify the recruiters. They should further examine shared repositories before going ahead, staying away from executing scripts without investigation. On the other hand, companies must execute phishing simulations while observing code repositories.

The firms should also leverage advanced security solutions, restraining credential theft and financial losses. With the continuous LinkedIn phishing schemes growing rapidly, SlowMist advises users to stay vigilant to protect their sensitive data from cybercriminals. The platform recommended the community protect their sensitive data from hackers leveraging advanced safety tools.
#scamriskwarning
#crypto
#CryptoWallet