Despite Scam Accusations, Decentralized Exchange (DEX) Pond0x Surpasses $100 Million in Trading Volume. In a recent update shared on X (formerly Twitter), the official Pond0x project channel directed users to a Dune dashboard revealing a remarkable all-time trading volume of over $111 million as of September 29.

Rising Instances of Fraud and Scams in India: Protect Yourself from Financial Losses In recent times, fraudulent activities and scams have seen an increase in India. Stories of individuals losing their hard-earned money have become all too common. To safeguard yourself from falling victim to these scams, it's crucial to exercise caution when dealing with unfamiliar individuals and conduct thorough online background checks on anyone you engage with.

Researchers at Sophos have uncovered a 'pig butchering' cryptocurrency scam that has malicious actors making off with more than $1 million in just three months. This operation demonstrated a high level of sophistication, employing a total of 14 domains and numerous nearly identical fraudulent websites, as detailed in the investigation. The scammers exploited counterfeit trading pools within decentralized finance (DeFi) trading platforms, targeting unsuspecting victims. One unfortunate individual lost a substantial $22,000 within the span of a single week.

A cryptocurrency investor has fallen victim to a $4.46 million asset loss in connection with a USDT Approval mining scam. As reported by the blockchain security platform Scam Sniffer, this fraudulent scheme unfolded mere minutes after the investor executed a 4.46 million USDT withdrawal from the Kraken exchange.

The tech enthusiast revealed a ₹67 lakh loss in cryptocurrency investments from November 2021 to June 2022. Ethan Nguonly, a 22-year-old software engineer at Google, recently opened up about his most significant financial blunder. According to CNBC Make It, Mr. Nguonly disclosed that he suffered a ₹67 lakh loss due to leveraged cryptocurrency trading – a practice that involves using borrowed funds to invest in cryptocurrencies.

JACKSONVILLE, FL—What initially appears as an exhilarating online romance often takes a distressing turn for victims ensnared in the web of romance scams, which have now evolved to include fraudulent cryptocurrency investments. These confidence frauds, commonly known as romance scams, begin when adept criminals establish relationships with unsuspecting individuals through dating and social media platforms. After gaining the trust of their victims, these fraudsters deceitfully request money for various fictitious purposes such as medical expenses, travel costs, or legal fees. The FBI has identified a concerning trend in which these scammers are increasingly coercing victims into investing in cryptocurrency, potentially leading to heightened victimization in 2023.

A woman lost approximately $390,000 to a scammer who deceived her into investing in cryptocurrency. She encountered the scammer through a dating app, highlighting the latest method scammers use to target young individuals.

Millions upon millions of dollars were siphoned away by scams and exploits in the month of July alone. Forta Network, the blockchain security firm, has enhanced its scam detection service by incorporating malicious URL data, introducing novel threat classifications, and integrating smart contract scanners designed to counter the latest crypto attack vectors, according to a spokesperson speaking with CoinDesk.

On Thursday, employees at a Cheltenham bank alerted the authorities when a customer sought to transfer a substantial sum of money to what appeared to be a fraudulent account. It was subsequently revealed that multiple transactions had taken place, with the individual under the impression they were engaging in cryptocurrency investments.

A resident of the United Arab Emirates, who is also a Nigerian citizen, has been handed an eight-year federal prison sentence for masterminding a fraudulent scheme worth millions of dollars that targeted businesses across the United States. Illinois federal prosecutors made this announcement.

India Secures the Top Position in Chainalysis' 2023 Global Crypto Adoption Index, Despite Stringent Tax Regulations Chainalysis, a prominent global blockchain surveillance firm, has unveiled a preview of its annual crypto adoption report, providing insights into the adoption of digital currencies across different nations.

In a recent legal filing, the insolvent cryptocurrency exchange FTX has adjusted its proposed protocol for liquidating its substantial cryptocurrency assets in response to concerns raised by the U.S. Trustee. In light of objections raised by the U.S. Trustee in their prior submissions, FTX has made substantial alterations to its proposed procedure for handling creditor claims.

U.S. Congressman Tom Emmer, along with backing from 49 Republican lawmakers, has reintroduced the CBDC Anti-Surveillance State Act. This legislation aims to thwart the introduction of a retail central bank digital currency (CBDC) that, according to Congressman Emmer, could encroach upon the financial privacy rights of Americans.

The CEO of Binance.US, the American branch of the largest cryptocurrency exchange, Binance, has stepped down as the company reportedly undergoes a 33% reduction in its workforce. The cryptocurrency exchange intends to cut 100 positions, according to a statement from a company spokesperson.

After a 10-month tenure under Elon Musk's reign, cryptocurrency scams continue to proliferate on X (formerly Twitter). One of the most recent and prominent scams on the platform took the form of a deceptive 'GBTC' token giveaway. Scammers falsely claimed an affiliation with the Grayscale Bitcoin Trust, the world's largest Bitcoin fund, by misappropriating its GBTC ticker for a purported $25 million token distribution.

Zodia Custody, an offspring of Standard Chartered, has now formally introduced its digital asset custody services tailored for financial institutions in Singapore. This strategic move comes as a response to the increasing demand from institutions in the Asia-Pacific region seeking high-security custody solutions for digital assets, as reported by CNBC.

On September 7th, OKX, a leading global web3 technology company, and Circle Internet Financial, a fintech firm, introduced USDC features within the OKX Wallet and the OKX DEX aggregator. This collaboration's primary goal is to simplify USDC transactions by removing network fees and enabling cross-chain USDC swaps across multiple blockchain networks.

G20 Leaders Urgently Pledge to Implement Crypto Asset Reporting Framework (CARF) and Embrace IMF and FSB Synthesis Paper During the recent G20 summit, presided over by India, member nations reached a unanimous decision to swiftly implement a worldwide framework for the regulation of cryptocurrencies.

The supervisory team responsible for overseeing The Open Network (TON) blockchain has successfully completed its transformation into a Swiss non-profit entity. According to an official statement released by the TON Foundation, this development signifies a "new chapter for the TONcoin community" due to Switzerland's well-defined regulatory framework for the cryptocurrency industry and its track record of technological advancement.

The UK's Financial Conduct Authority (FCA) has announced an extension of the deadline for cryptoasset firms to implement specific regulatory changes in their cryptocurrency marketing processes. In a recent update, the regulatory authority revealed that key rules governing cryptocurrency marketing, such as the prohibition of incentives like referral bonuses, will now take effect on October 8. However, newly established firms will receive additional time to incorporate features that necessitate significant technical development.