A new fraud tactic is emerging, with con artists posing as lawyers to target cryptocurrency scam victims. They exploit desperation by promising to recover lost funds, using elaborate ruses like fabricated government partnerships and forged documents.
Sophisticated tactics, including fake websites and staged WhatsApp chats, pressure people into paying additional fees.
The US Federal Bureau of Investigation has issued a warning about the scam. Fake law firms use detailed knowledge of a victim’s prior losses to appear credible, knowing the exact amounts and dates of fraudulent transactions.
The scheme often escalates when victims are directed to deposit money into what appear to be foreign bank accounts, which are sophisticated facades designed to steal more funds.
The FBI recommends a ‘Zero Trust’ approach to combat fraud. Any unsolicited recovery offer should be met with immediate scepticism. A major red flag is if a representative refuses to appear on camera or provide their licensing details.
The bureau also advises keeping detailed records of all interactions, like emails and video calls, as documentation could prove invaluable for investigators.
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Norway’s sovereign wealth fund has significantly increased its indirect Bitcoin exposure. The world’s largest fund’s holdings in Bitcoin proxies have surged by 192% over the past year.
Unable to hold cryptocurrencies directly due to investment restrictions, the fund gains exposure through shares in companies like Coinbase and Strategy.
A broader trend is emerging among sovereign and state wealth funds. Due to legal mandates, managers are often limited to specific asset classes.
To invest in cryptocurrency, funds are turning to alternative routes like exchange-traded funds and companies that hold Bitcoin. The ‘side door’ approach allows them to participate in the crypto market while following regulations.
Kazakhstan’s sovereign wealth fund also announced plans to convert some of its assets to crypto, showing a growing global trend towards integrating the asset into traditional financial portfolios.
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Google Play is introducing new policies for cryptocurrency wallet applications. The new rules will require them to be licensed in more than fifteen countries, including the United States and the European Union.
The changes, which come into effect on 29 October, will require providers in the US to register as a money services business or money transmitter. Those in the EU, meanwhile, must register as a crypto-asset service provider.
The updated rules, which aim to ensure compliance with industry standards, will not apply to non-custodial wallets. Following initial concerns from the crypto community, Google clarified the policy on X, stating that non-custodial apps are not in scope.
The new regulations could lead to a broader adoption of Know Your Customer checks and other anti-money laundering measures for the affected apps.
Google Play has a mixed history with cryptocurrency, having previously banned crypto mining apps in 2018 and removed several crypto news and video games. In 2021, the company removed several deceptive apps for allegedly tricking users into paying for an illegitimate cloud service.
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Bitcoin has secured a new all-time high, with its price momentarily climbing above USD 124,000 and capturing headlines again. The milestone has solidified its upward trajectory, even with modest daily gains.
At the same time, Ethereum has also experienced a stellar month. It is now positioned less than two percent away from breaking its previous all-time high for the first time in nearly four years.
The broader cryptocurrency market is thriving alongside these two giants. Many of the top 100 digital assets are basking in double-digit weekly gains, with Solana up by 23 percent and Ethereum’s rise of 30 percent particularly noteworthy.
A combination of positive regulatory shifts and economic optimism in the United States drives the robust market momentum.
A return to high-growth investments is the primary theme, with institutional investors increasingly flocking to Ethereum as a treasury asset.
Following favourable inflation data, the shift is fuelled by expectations of a September interest rate cut in the US. The anticipated monetary easing has encouraged a move toward ‘risk-on’ assets within the cryptocurrency sector.
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Coinbase development staff realise that autonomous AI agents will become Ethereum’s most significant user base, leveraging a long-dormant web standard to make real-world payments in cryptocurrency.
The programme is powered by the HTTP 402 ‘Payment Required’ status, a web standard that was defined thirty years ago. It has now been combined with Ethereum Improvement Proposal 3009 to enable automated stablecoin transfers.
Developers are already experimenting, proving the programme is moving from a theoretical possibility to a practical reality.
The shift could be transformative, as it allows AI agents to autonomously pay for services, eliminating the need for human oversight of API calls or data storage. Potential applications range from self-driving taxis covering their own costs to AI models creating content on demand.
Ethereum’s trustless settlement layer makes it the ideal blockchain for this new payment protocol.
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Google has introduced a new ‘Preferred Sources’ feature that allows users to curate their search results by selecting favourite websites. Once added, stories from these sites will appear more prominently in the ‘Top Stories’ section and a dedicated ‘From your sources’ section on the search results page.
Now rolling out in India and the US, the feature aims to improve search quality by helping users avoid low-value content. There is no limit to the number of sources that can be chosen, and early testers typically added more than four.
While preferred outlets will appear more often, search results will still include content from other websites.
To set preferred sources, users can click the icon next to the ‘Top Stories’ section when searching for a trending topic, find the outlet they want, and reload results.
Google says the change may also benefit publishers, offering them more visibility when AI-driven search engines sharply reduce traffic to news websites.
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OpenAI has introduced updates to its GPT-5 model following user feedback. CEO Sam Altman announced that users can now choose between Auto, Fast, and Thinking modes, along with an updated personality for the AI.
The changes aim to enhance user experience by providing greater control over the model’s behaviour. Altman noted that while more users work with reasoning-focused models, they still represent a relatively small portion of the total user base.
The update reflects OpenAI’s ongoing commitment to tailoring AI interactions based on user preferences and feedback, ensuring the flagship model remains adaptable and responsive to diverse needs.
GPT-5 faced a rocky launch as users found it surprisingly less capable than GPT-4o, due to a malfunctioning real-time router that misrouted queries. Sam Altman acknowledged the issue, restoring GPT-4o access and doubling rate limits for Plus subscribers.
The episode has also sparked debate in the AI community about balancing innovation with emotional resonance, as some users note GPT-5’s colder tone despite its safer, more aligned behaviour.
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Perplexity AI has made a surprise US$34.5 billion offer to acquire Google’s Chrome browser, which could align with antitrust measures under consideration in the US.
The San Francisco-based startup submitted the proposal in a letter of intent, claiming it would keep Chrome independent while prioritising openness and consumer protection.
The bid arrives as Google awaits a court ruling on potential remedies after being found to have maintained an illegal monopoly in online search.
US government lawyers have suggested Chrome’s divestment instead of allowing Google to strengthen its dominance through AI. Google has urged the court to reject such a move, warning that a sale could harm innovation and reduce quality.
Analysts at Baird Equity Research said Perplexity’s offer undervalues Chrome and may be intended to prompt rival bids or influence the judge’s decision. They added that Perplexity, which already operates its browser, could gain an advantage if Chrome became independent.
Google argues that most Chrome users are outside the US, meaning a forced sale would have global implications. The ruling is expected by the end of August, with the outcome likely to reshape the competitive landscape for browsers as AI increasingly shapes how users access the internet.
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Zenity Labs warned at Black Hat USA that widely used AI agents can be hijacked without interaction. Attacks could exfiltrate data, manipulate workflows, impersonate users, and persist via agent memory. Researchers said knowledge sources and instructions could be poisoned.
Demos showed risks across major platforms. ChatGPT was tricked into accessing a linked Google Drive via email prompt injection. Microsoft Copilot Studio agents leaked CRM data. Salesforce Einstein rerouted customer emails. Gemini and Microsoft 365 Copilot were steered into insider-style attacks.
Vendors were notified under coordinated disclosure. Microsoft stated that ongoing platform updates have stopped the reported behaviour and highlighted built-in safeguards. OpenAI confirmed a patch and a bug bounty programme. Salesforce said its issue was fixed. Google pointed to newly deployed, layered defences.
Enterprise adoption of AI agents is accelerating, raising the stakes for governance and security. Aim Labs, which had previously flagged similar zero-click risks, said frameworks often lack guardrails. Responsibility frequently falls on organisations deploying agents, noted Aim Labs’ Itay Ravia.
Researchers and vendors emphasise layered defence against prompt injection and misuse. Strong access controls, careful tool exposure, and monitoring of agent memory and connectors remain priorities as agent capabilities expand in production.
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YouTube’s new AI age check, launched on 13 August 2025, flags suspected minors based on their viewing habits. Over 50,000 creators petitioned against it, calling it ‘AI spying’. The backlash reveals deep tensions between child safety and online anonymity.
Flagged users must verify their age with ID, credit card, or a facial scan. Creators say the policy risks normalising surveillance and shrinking digital freedoms.
SpyCloud’s 2025 report found a 22% jump in stolen identities, raising alarm over data uploads. Critics fear YouTube’s tool could invite hackers. Past scandals over AI-generated content have already hurt creator trust.
Users refer to it on X as a ‘digital ID dragnet’. Many are switching platforms or tweaking content to avoid flags. WebProNews says creators demand opt-outs, transparency, and stronger human oversight of AI systems.
As global regulation tightens, YouTube could shape new norms. Experts urge a balance between safety and privacy. Creators push for deletion rules to avoid identity risks in an increasingly surveilled online world.
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