Cybercrime

AI tools are not enough without basic cybersecurity

At London Tech Week, Darktrace and UK officials warned that many firms are over-relying on AI tools while failing to implement basic cybersecurity practices.

Despite the hype around AI, essential measures like user access control and system segmentation remain missing in many organisations.

Cybercriminals are already exploiting AI to automate phishing and accelerate intrusions in the UK, while outdated infrastructure and short-term thinking leave companies vulnerable.

Boards often struggle to assess AI tools properly, buying into trends rather than addressing real threats.

Experts stressed that AI is not a silver bullet and must be used alongside human expertise and solid security foundations.

Domain-specific AI models, built with transparency and interpretability, are needed to avoid the dangers of overconfidence and misapplication in high-risk areas.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!

French police detain suspects in crypto ransom case

French police have arrested several suspects in connection with a series of violent kidnappings aimed at cryptocurrency executives and their families. The latest arrests, made on Tuesday, are part of a broader crackdown on what authorities describe as a highly organised extortion ring.

The group is believed to be behind the 1 May abduction of a crypto entrepreneur’s father, who was kidnapped in broad daylight in Paris by men disguised as delivery workers. The kidnappers reportedly cut off a finger to demand cryptocurrency before police rescued the victim days later.

Investigators suspect Badiss Mohamed Amide Bajjou, a 24-year-old dual French-Moroccan national, of orchestrating the attacks. Moroccan police arrested him in Tangier last week, seizing weapons, electronics, and illicit funds.

He is also linked to the January kidnapping of Ledger co-founder David Balland, with French authorities now seeking his extradition.

By the end of May, prosecutors had charged 25 people, mostly under 24, who were recruited online and promised financial rewards. Many were used as operatives in kidnapping attempts, including a failed effort to abduct the family of Paymium CEO Pierre Noizat.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot! 

INTERPOL cracks down on global cybercrime networks

Over 20,000 malicious IP addresses and domains linked to data-stealing malware have been taken down during Operation Secure, a coordinated cybercrime crackdown led by INTERPOL between January and April 2025.

Law enforcement agencies from 26 countries worked together to locate rogue servers and dismantle criminal networks instead of tackling threats in isolation.

The operation, supported by cybersecurity firms including Group-IB, Kaspersky and Trend Micro, led to the removal of nearly 80 per cent of the identified malicious infrastructure. Authorities seized 41 servers, confiscated over 100GB of stolen data and arrested 32 suspects.

More than 216,000 individuals and organisations were alerted, helping them act quickly by changing passwords, freezing accounts or blocking unauthorised access.

Vietnamese police arrested 18 people, including a group leader found with cash, SIM cards and business records linked to fraudulent schemes. Sri Lankan and Nauruan authorities carried out home raids, arresting 14 suspects and identifying 40 victims.

In Hong Kong, police traced 117 command-and-control servers across 89 internet providers. INTERPOL hailed the effort as proof of the impact of cross-border cooperation in dismantling cybercriminal infrastructure instead of allowing it to flourish undisturbed.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!

Diplo highlights cybersecurity at AfriSIG

The African School of Internet Governance (AfriSIG) convened in Dar Es Salaam, Tanzania, from 23 to 28 May 2025, bringing together a broad mix of African and international stakeholders for intensive internet, ICT, and data governance training. As a precursor to the African Internet Governance Forum (AfIGF), the school aimed to strengthen civil society, public, and private sector expertise in navigating Africa’s rapidly evolving digital landscape.

Representing Diplo, Dr Katherine Getao delivered a keynote on ‘Cybersecurity and Cybercrime in Africa,’ emphasising the continent’s urgent need to build strong digital defences amid rising cyber threats. While the challenges are pressing, she pointed out that they also open avenues for youth employment and entrepreneurship, especially in the cybersecurity sector.

Dr Getao also stressed the significance of African participation in global policy dialogues, such as the Geneva Dialogue, to ensure the continent’s digital priorities are heard and reflected in international frameworks. Drawing from her experience with the UN Group of Governmental Experts, she advocated for Africa to be more active in shaping responsible state behaviour in cyberspace.

The event’s panel discussions and workshops further explored how African voices can better leverage platforms like the Internet Governance Forum to influence global tech governance. For Diplo and initiatives like the Geneva Dialogue, AfriSIG was a key venue for aligning African digital development with international policy momentum.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!

Germany sees spike in suspicious crypto activity

Germany’s Financial Intelligence Unit (FIU) has recorded a record number of cryptocurrency-related suspicious activity reports (SARs) in 2024 despite an overall decline in total filings. The FIU reported 8,711 crypto-linked SARs, an 8.2% rise from the previous year.

Most flagged transactions involved Bitcoin, followed by Ethereum, Tether, and Litecoin. These were often tied to trading platforms, mixing services, or online gambling—tools frequently used to hide the origin of illicit funds. The agency said digital assets continue to play a growing role in money laundering operations.

Germany’s trend reflects broader international concerns. In the UK, the National Crime Agency said cryptocurrency exchanges were linked to 6.6% of all SARs during the 2023–24 period, as overall filings rose to around 872,000.

Authorities also observed a rise in counter-terrorism financing reports and account freezes. In the US, FinCEN received over 8,600 crypto-related SARs in fiscal year 2023.

Meanwhile, blockchain analytics firm Chainalysis reported laundered crypto volumes dropped from $31.5 billion in 2022 to $22.2 billion in 2023, though total criminal crypto usage remained stable at about $50 billion annually.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot! 

Meme coins: Fast gains or crypto gambling?

Meme coins have exploded in the crypto market, attracting investors with promises of fast profits and viral hype. These digital tokens, often inspired by internet memes and pop culture, like Dogecoin, Pepe, Dogwifhat and most recently Trump coin, do not usually offer clear utility. Instead, their value mostly depends on social media buzz, influencer endorsements, and community enthusiasm. In 2025, meme coins remain a controversial yet dominant trend in crypto trading. 

Viral but vulnerable: the rise of meme coins 

Meme coins are typically created for humour, social engagement, or to ride viral internet trends, rather than to solve real-world problems. Despite this, they are widely known for their popularity and massive online appeal. Many investors are drawn to meme coins because of the potential for quick, large returns. 

For example, Trump-themed meme coins saw explosive growth in early 2024, with MAGA meme coin (TRUMP) briefly surpassing a $500 million market cap, despite offering no real utility and being driven largely by political hype and social media buzz. 

Analysis reports indicate that in 2024, between 40,000 and 50,000 new meme tokens were launched daily, with numbers soaring to 100,000 during viral surges. Solana tops the list of blockchains for meme coin activity, generating 17,000 to 20,000 new tokens each day. 

Chainplay’s ‘State of Memecoin 2024’ report found that over half (55.24%) of the meme coins analysed were classified as ‘malicious’. 

A chaotic blend of internet culture, greed, and adrenaline, meme coins turn crypto investing into a thrilling game where hype rules and fortunes flip in seconds.

The risks of rug pulls and scams in meme coin projects 

Beneath the humour and viral appeal, meme coins often hide serious structural risks. Many are launched by developers with little to no accountability, and most operate with centralised liquidity pools controlled by a small number of wallets. The setup allows creators or early holders to pull liquidity or dump large token amounts without warning, leading to devastating price crashes—commonly referred to as ‘rug pulls.’ 

On-chain data regularly reveals that a handful of wallets control the vast majority of supply in newly launched meme tokens, making market manipulation easy and trust almost impossible. These coins are rarely audited, lack transparency, and often have no clear roadmap or long-term utility, which leaves retail investors highly exposed. 

The combination of hype-driven demand and opaque tokenomics makes meme coins a fertile ground for fraud and manipulation, further eroding public confidence in the broader crypto ecosystem. 

A chaotic blend of internet culture, greed, and adrenaline, meme coins turn crypto investing into a thrilling game where hype rules and fortunes flip in seconds.

Gambling disguised as investing: The adrenaline rush of meme coins 

Meme coins tap into a mindset that closely resembles gambling more than traditional investing. The entire culture around them thrives on adrenaline-fueled speculation, where every price spike feels like hitting a jackpot and every drop triggers a high-stakes rollercoaster of emotions. Known as the ‘degen’ culture, traders chase quick wins fuelled by FOMO, hype, and the explosive reach of social media.

The thrill-seeking mentality turns meme coin trading into a game of chance. Investors often make impulsive decisions based on hype rather than fundamentals, hoping to catch a sudden pump before the inevitable crash. 

It is all about momentum. The volatile swings create an addictive cycle: the excitement of rapid gains pulls traders back in, despite the constant risk of losing everything.

While early insiders and large holders strategically time their moves to cash out big, most retail investors face losses, much like gamblers betting in a casino. The meme coin market, therefore, functions less like a stable investment arena and more like a high-risk gambling environment where luck and timing often outweigh knowledge and strategy. 

A chaotic blend of internet culture, greed, and adrenaline, meme coins turn crypto investing into a thrilling game where hype rules and fortunes flip in seconds.

Is profit from meme coins possible? Yes, but…

While some investors have made substantial profits from meme coins, success requires expert knowledge, thorough research, and timing. Analysing tokenomics, community growth, and on-chain data is essential before investing. Although they can be entertaining, investing in meme coins is a risky gamble. Luck remains a big key factor, so meme coins are never considered safe or long-term investments.

Meme coins vs Bitcoin: A tale of two mindsets 

Many people assume that all cryptocurrencies share the same mindset, but the truth is quite different. Interestingly, cryptocurrencies like Bitcoin and meme coins are based on contrasting philosophies and psychological drivers.

Bitcoin embodies a philosophy of trust through transparency, decentralisation, and long-term resilience. It appeals to those seeking stability, security, and a store of value rooted in technology and community consensus—a digital gold that invites patience and conviction. In essence, Bitcoin calls for building and holding with reason and foresight. 

Meme coins, on the other hand, thrive on the psychology of instant gratification, social identity, and collective enthusiasm. They tap into our desire for excitement, quick wins, and belonging to a viral movement. Their value is less about utility and more about shared emotion— the hope, the hype, and the adrenaline rush of catching the next big wave. Meme coins beckon with the thrill of the moment, the gamble, and the social spectacle. It makes meme coins a reflection of the speculative and impulsive side of human nature, where the line between investing and gambling blurs.

Understanding these psychological underpinnings helps explain why the two coexist in the crypto world, yet appeal to vastly different types of investors and mindsets. 

A chaotic blend of internet culture, greed, and adrenaline, meme coins turn crypto investing into a thrilling game where hype rules and fortunes flip in seconds.

How meme coins affect the reputation of the entire crypto market

The rise and fall of meme coins do not just impact individual traders—they also cast a long shadow over the credibility of the entire crypto industry. 

High-profile scams, rug pulls, and pump-and-dump schemes associated with meme tokens erode public confidence and validate sceptics’ concerns. Many retail traders enter the meme coin space with high hopes and are quickly disillusioned by manipulation and sudden losses. 

This leads to a sense of betrayal, triggering risk aversion and a generalised mistrust toward all crypto assets, even those with strong fundamentals like Bitcoin or Ethereum. Such disillusionment does not stay contained. It spills over into mainstream sentiment, deterring new investors and slowing institutional adoption. 

As more people associate crypto with gambling and scams rather than innovation and decentralisation, the market’s growth potential suffers. In this way, meme coins—though intended as jokes—could have serious consequences for the future of blockchain credibility. 

Gold, Face, Head, Person

Trading thrills or ticking time bomb?

Meme coins may offer flashes of fortune, but their deeper role in the crypto ecosystem raises a provocative question: are they reshaping finance or just distorting it? In a market where jokes move millions and speculation overrides substance, the real gamble may not just be financial—it could be philosophical. 

Are we embracing innovation, or playing a dangerous game with digital dice? In the end, meme coins are not just a bet on price—they are a reflection of what kind of future we want to build in crypto. Is it sustainable value, or just viral chaos? The roulette wheel is still spinning. 

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot! 

Barcelona court investigates football stars in NFT scam

A Barcelona court has launched a criminal probe into Shirtum Europa SLU, a crypto firm accused of defrauding investors of $3.4 million through a failed NFT scheme. Several elite footballers, including World Cup winners and former Barcelona stars, are named in the case after promoting the venture.

The NFTs tied to footballer image rights and sold via the $SHI token were marketed as exclusive collectables but were never tradable or backed by a functioning platform.

Founders allegedly used a complex corporate structure to evade taxes and siphon funds, with footballers acting as public faces to boost credibility.

The footballers are ‘Papu’ Gómez, Lucas Ocampos, Ivan Rakitić, Javier Saviola, Nico Pareja, and Alberto Moreno. Reports suggest ‘Papu’ Gómez recruited others after presenting himself as a company founder before all promotional material was removed from social media.

The scandal exposes problems in Spanish football’s crypto partnerships, as a gambling ad ban left a sponsorship gap that crypto firms filled. Many clubs face unpaid fees, and experts warn big names may mislead investors.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!

Massive leak exposes data of millions in China

Cybersecurity researchers have uncovered a brief but significant leak of over 600 gigabytes of data, exposing information on millions of Chinese citizens.

The haul, containing WeChat, Alipay, banking, and residential records, is part of a centralised system, possibly aimed at large-scale surveillance instead of a random data breach.

According to research from Cybernews and cybersecurity consultant Bob Diachenko, the data was likely used to build individuals’ detailed behavioural, social and economic profiles.

They warned the information could be exploited for phishing, fraud, blackmail or even disinformation campaigns instead of remaining dormant. Although only 16 datasets were reviewed before the database vanished, they indicated a highly organised and purposeful collection effort.

The source of the leak remains unknown, but the scale and nature of the data suggest it may involve government-linked or state-backed entities rather than lone hackers.

The exposed information could allow malicious actors to track residence locations, financial activity and personal identifiers, placing millions at risk instead of keeping their lives private and secure.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!

NHS launches urgent blood donor appeal

The NHS is appealing for one million new blood donors during National Blood Week, following a significant cyberattack on London hospitals that severely impacted blood stocks.

This urgent plea comes after an analysis by NHS Blood and Transplant revealed a shortfall of 200,000 donors, with only two percent of the population currently sustaining the nation’s blood supply.

The ongoing shortage stems from a July 2024 cyberattack, linked to the Russian-based Qilin ransomware group, which crippled the networks of Synnovis, a major NHS lab partner.

This disruption affected crucial pathology services at hospitals including King’s College Hospital and Guy’s and St Thomas’ NHS Foundation Trust, leading to postponed operations and procedures. The incident prompted an Amber alert for severe blood shortages, declared a ‘critical incident’ by the NHS.

With blood stocks remaining low, exacerbated by recent bank holidays, the NHS is now facing a pressing need to prevent a ‘Red Alert,’ which would signify demand far exceeding capacity and threaten public safety.

A particular emphasis is being placed on finding more O-negative and Ro donors, urging the public to come forward and help replenish vital supplies.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!

M&S resumes online orders after cyberattack

Marks & Spencer has resumed online clothing orders following a 46-day pause triggered by a cyberattack. The retailer restarted standard home delivery across England, Scotland and Wales, focusing initially on best-selling and new items instead of the full range.

A spokesperson stated that additional products will be added daily, enabling customers to gradually access a wider selection. Services such as click and collect, next-day delivery, and international orders are expected to be reintroduced in the coming weeks, while deliveries to Northern Ireland will resume soon.

The disruption began on 25 April when M&S halted clothing and home orders after issues with contactless payments and app services during the Easter weekend. The company revealed that the breach was caused by hackers who deceived staff at a third-party contractor, bypassing security defences.

M&S had warned that the incident could reduce its 2025/26 operating profit by around £300 million, though it aims to limit losses through insurance and internal cost measures. Shares rose 3 per cent as the online service came back online.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!