India’s Enforcement Directorate (ED) has chosen CoinDCX to manage and store seized digital assets as part of a crackdown on cryptocurrency-related financial crimes.
The partnership follows high-profile fraud cases like GainBitcoin and BitConnect, which have raised concerns over investor protection. CoinDCX will offer secure custody services to safeguard these assets, implementing advanced security protocols to ensure their integrity.
In a recent case, the ED seized digital assets worth approximately $198 million linked to the BitConnect scam, which defrauded investors worldwide.
Earlier, the Central Bureau of Investigation (CBI) had seized $2.88 million in the GainBitcoin scam, uncovering evidence of financial misappropriation and cross-border transactions. These actions highlight the increasing efforts by authorities to tackle large-scale cryptocurrency fraud.
As cryptocurrency adoption rises in India, regulatory bodies are focusing on stronger enforcement to protect investors from fraudulent schemes.
The collaboration with CoinDCX is part of a broader strategy to ensure transparency in the handling of seized funds and to maintain the integrity of ongoing investigations.
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Britain’s media regulator, Ofcom, has set a 31 March deadline for social media and online platforms to submit a risk assessment on the likelihood of users encountering illegal content. This move follows new laws passed last year requiring companies such as Meta’s Facebook and Instagram, as well as ByteDance’s TikTok, to take action against criminal activities on their platforms. Under the Online Safety Act, these firms must assess and address the risks of offences like terrorism, hate crimes, child sexual exploitation, and financial fraud.
The risk assessment must evaluate how likely it is for users to come across illegal content, or how user-to-user services could facilitate criminal activities. Ofcom has warned that failure to meet the deadline could result in enforcement actions against the companies. The new regulations aim to make online platforms safer and hold them accountable for the content shared on their sites.
The deadline is part of the UK‘s broader push to regulate online content and enhance user safety. Social media giants are now facing stricter scrutiny to ensure they are addressing potential risks associated with their platforms and protecting users from harmful content.
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The Guardian reports on the shift in the USA digital diplomacy with a major impact on global cyber geopolitics. After rumours of dropping Russia as a cyber threat, the first public signal on this shift was the USA’s statement at the UN working group meeting on cybersecurity when Liesyl Franz, a US representative, did not indicate Russia as a cyber threat alongside China and Iran. It is a significant shift in the USA digital diplomacy and cyber geopolitics.
The US representative also omitted usual USA references to allies and partners in cyber politics. The Guardian reports on various concerns of this shift, including a view of James Lewis, USA cybersecurity veteran: ‘It’s incomprehensible to give a speech about threats in cyberspace and not mention Russia, and it’s delusional to think this will turn Russia and the FSB [the Russian security agency] into our friends.’
This repositioning aligns with ongoing efforts to improve US-Russia relations, contrasting starkly with European allies’ views on the threat posed by Russia. It remains to be seen if this shift relates only to cybersecurity or it the US will revisit other aspects related to AI and digital governance.
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Democratic lawmakers are calling for an explanation from the Pentagon after reports surfaced about an order to pause offensive cyber operations against Russia during sensitive negotiations aimed at ending the war in Ukraine.
The decision to halt such operations, which disrupt rival computer networks, is not unusual in the context of diplomatic efforts but has raised concerns among lawmakers. The order was first reported by The Record and later confirmed by two anonymous sources familiar with the matter.
Senate Minority Leader Chuck Schumer criticised the move, calling it a ‘critical strategic mistake’ and arguing that ‘the best defence is always a strong offence’, especially in cybersecurity.
Representative Adam Smith, the top Democrat on the House Armed Services Committee, also demanded that the Pentagon provide Congress with details regarding the scope of the pause and its potential impact on US allies. He further questioned whether a risk assessment was made before the decision.
The Pentagon declined to comment on the matter, citing operational security concerns. The pause in cyber operations comes amid rising tensions surrounding President Donald Trump’s recent dealings with Russia, including a public clash with Ukrainian President Volodymyr Zelenskiy.
Trump has shifted US policy by engaging in talks with Moscow and openly criticising Zelenskiy, suggesting that America could pull its support for Ukraine if the war does not end soon.
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US Defense Secretary Pete Hegseth has ordered a pause on all cyber operations against Russia, including offensive actions, as part of a broader reassessment of US operations related to Russia. The duration and specifics of the pause remain unclear, according to multiple US media reports. The Pentagon declined to comment on the matter, citing operational security concerns.
This move comes amid US President Donald Trump’s push for negotiations to end the war in Ukraine, as well as his recent criticism of Ukrainian President Volodymyr Zelensky. Trump has positioned himself as a mediator between Russian President Vladimir Putin and Zelensky, calling for less focus on Putin.
Despite media reports suggesting a shift in cyber strategy, US National Security Adviser Mike Waltz denied any policy change regarding cyber operations against Russia. He emphasised that efforts to end the war would continue with a range of diplomatic and strategic tools.
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The hacker behind the $1.4 billion Bybit exploit has already laundered more than half of the stolen Ethereum, primarily swapping it for Bitcoin via THORChain. Blockchain analysts report that over $614 million has been moved in just five days, pushing THORChain’s daily transaction volumes from an average of $80 million to an astonishing $580 million. On 26 February alone, swaps reached a record $859 million.
The US Federal Bureau of Investigation has officially linked the attack to North Korean state-sponsored hackers, identifying it as part of a wider cybercrime operation. Security experts confirmed that Bybit’s core infrastructure remained intact, with the breach traced back to a compromised developer machine that injected malicious code into the Gnosis Safe UI. While the attack targeted Bybit’s cold wallet, the platform’s smart contracts were not affected.
In response, Bybit has launched a dedicated website to track the movement of stolen funds and is offering a bounty to exchanges that assist in their recovery. The incident underscores a growing trend where hackers are shifting focus from exchanges themselves to the infrastructure providers that support them.
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Europol announced on Friday that two dozen people have been arrested for their involvement in a criminal network distributing AI-generated images of child sexual abuse. This operation marks one of the first of its kind, highlighting concerns over the use of AI in creating illegal content. Europol noted that there is currently a lack of national legislation addressing AI-generated child abuse material.
The primary suspect, a Danish national, operated an online platform where he distributed the AI-generated content he created. Users from around the world paid a ‘symbolic online payment’ to access the material. The platform has raised significant concerns about the potential misuse of AI tools for such criminal purposes.
The ongoing operation, which involves authorities from 19 countries, resulted in 25 arrests, with most occurring simultaneously on Wednesday under the leadership of Danish authorities. Europol indicated that more arrests are expected in the coming weeks as the investigation continues.
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North Korean hackers have recorded the largest cryptocurrency theft, stealing approximately $1.5bn from the Dubai-based exchange ByBit. According to the FBI, the stolen funds have already been converted into Bitcoin and spread across thousands of blockchain addresses. The attack highlights North Korea’s growing expertise in cybercrime, with proceeds believed to be funding its nuclear weapons programme.
The notorious Lazarus Group, linked to the regime, has been responsible for several high-profile hacks, including the theft of over $1.3bn in cryptocurrency last year. Experts say the group employs advanced malware and social engineering tactics to breach exchanges and launder stolen assets into fiat currency. These funds are critical for bypassing international sanctions and financing North Korea’s military ambitions.
Beyond cybercrime, Pyongyang has deepened its ties with Russia, allegedly supplying troops and weapons in exchange for financial backing and technological expertise. Meanwhile, the regime has recently reopened its borders to a limited number of international tourists, aiming to generate much-needed foreign income. As global scrutiny intensifies, concerns are growing over North Korea’s increasing reliance on illicit activities to prop up its economy and expand its military power.
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The UK government has introduced the Crime and Policing Bill, aiming to enhance its ability to recover proceeds from cryptocurrency-related crime. The bill sets out provisions for valuing cryptocurrency, establishes procedures for courts to recover illicit funds, and expands powers for the Crown Court to issue seizure orders. It addresses various criminal issues, including anti-social behaviour, sexual offences, and terrorism, with a specific focus on confiscating criminal assets tied to cryptocurrencies.
The legislation will grant the Crown Court additional authority to manage and confiscate money, cryptocurrency, and personal property in criminal cases. Provisions within the bill also introduce measures for the destruction of seized cryptocurrency, ensuring that the market value at the time of destruction is taken into account, with adjustments made for any changes in value.
The bill further amends existing laws, replacing magistrates’ courts with the Crown Court in handling cryptocurrency assets. These updates aim to streamline the management of confiscation orders, ensuring that cryptocurrencies can be more effectively seized, valued, and recovered in cases involving criminal activity.
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Blockchain security experts have uncovered a fake mobile app that stole over $1.8 million in cryptocurrency. The app, called BOM, targeted users by gaining access to their private wallet data, including mnemonic phrases and private keys. Once installed, BOM deceptively requested unnecessary permissions, such as access to photos and media, which raised suspicion among security experts. When granted, the app scanned the device’s storage, stole wallet data, and sent it to a remote server.
The first signs of unauthorised transactions were detected on 14 February, with further investigation revealing the scale of the theft. Over 13,000 victims had their funds stolen, with the hacker address traced across several blockchains, including Ethereum, BNB Chain, and Polygon. The stolen assets included Tether, Ethereum, Wrapped Bitcoin, and Dogecoin.
Though the identity of the attackers remains unclear, analysts from SlowMist noted that the app’s backend services had gone offline, indicating the perpetrators may already be attempting to cover their tracks. Some of the stolen funds were exchanged through decentralised platforms like PancakeSwap and OKX-DEX, making it harder to trace the movement of the assets.
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