Cryptocurrencies

Gemini Nano boosts scam detection on Chrome

Google has released a new report outlining how it is using AI to better protect users from online scams across its platforms.

The company says AI is now actively fighting scams in Chrome, Search and Android, with new tools able to detect and neutralise threats more effectively than before.

At the heart of these efforts is Gemini Nano, Google’s on-device AI model, which has been integrated into Chrome to help identify phishing and fraudulent websites.

The report claims the upgraded systems can now detect 20 times more harmful websites, many of which aim to deceive users by creating a false sense of urgency or offering fake promotions. These scams often involve phishing, cryptocurrency fraud, clone websites and misleading subscriptions.

Search has also seen major improvements. Google’s AI-powered classifiers are now better at spotting scam-related content before users encounter it. For example, the company says it has reduced scams involving fake airline customer service agents by over 80 per cent, thanks to its enhanced detection tools.

Meanwhile, Android users are beginning to see stronger safeguards as well. Chrome on Android now warns users about suspicious website notifications, offering the choice to unsubscribe or review them safely.

Google has confirmed plans to extend these protections even further in the coming months, aiming to cover a broader range of online threats.

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LockBit ransomware Bitcoin addresses exposed

Nearly 60,000 Bitcoin addresses linked to LockBit’s ransomware operations have been exposed following a major breach of the group’s dark web affiliate panel.

The leak, which included a MySQL database dump, was shared publicly online and could assist blockchain analysts in tracing LockBit’s financial activity instead of leaving such transactions untracked.

Despite the scale of the breach, no private keys were leaked. A LockBit representative reportedly confirmed the incident in a message, stating that no sensitive access data was compromised.

However, the exposed database included 20 tables, such as one labelled ‘builds’ that contained details about ransomware created by affiliates and their targeted companies.

Another table, ‘chats,’ revealed over 4,400 messages from negotiations between victims and LockBit operators, offering a rare glimpse into the inner workings of ransomware extortion tactics.

Analysts believe the hack may be connected to a separate breach of the Everest ransomware site, as both featured identical messages, hinting at a possible link.

The incident has again underscored the central role of cryptocurrency in the ransomware economy. Each victim is typically given a unique address for payments, making tracking difficult.

Instead of remaining hidden, these addresses now give law enforcement and blockchain experts a chance to trace payments and potentially link them to previously unidentified actors.

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Xapo Bank introduces Bitcoin-backed loans for long-term holders

Xapo Bank’s CEO, Seamus Rocca, sees Bitcoin-backed loans as the next logical step as investor confidence grows. As Bitcoin’s price hovers between $95,000 and $97,000, more investors are choosing to borrow against their BTC instead of selling it.

Xapo Bank’s lending product, launched in March, allows clients to borrow up to $1 million using Bitcoin as collateral.

The demand for such loans is fuelled by a shift in market sentiment, with investors moving from short-term speculation to a longer-term outlook.

Rocca highlighted that institutional adoption, including Bitcoin ETFs, is contributing to this change in attitude. The bank offers flexible loan-to-value (LTV) ratios, allowing borrowers to access liquidity while keeping their BTC.

With conservative LTV levels, Bitcoin prices would need to drop significantly for borrowers to face liquidation, making this an appealing option for long-term holders.

The product helps investors manage emergency expenses without selling their Bitcoin. It’s enabling them to continue benefiting from potential price appreciation while maintaining liquidity.

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Bitcoin scholarships launched at Lomond School

Lomond School has introduced the Satoshi Scholarships, offering 42 scholarships for students passionate about economics and innovation. These cover the prestigious International Baccalaureate (IB) programme, including 21 two-year day and 21 two-year boarding scholarships.

The initiative is backed by economist Dr. Saifedean Ammous, who will help develop a new Austrian economics curriculum. The curriculum will focus on sound money, decentralised finance, and the ethics of financial liberty.

Dr. Ammous expressed his enthusiasm for the project, emphasising the importance of teaching future generations about sound economics. In addition, students will engage with Bitcoin mining hardware and gain practical knowledge of monetary systems.

Lomond School is now seeking 43 founding benefactors to support the scholarships and help shape the next generation of economic thinkers. Interested parties can learn more by contacting the school directly.

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USD1 stablecoin becomes seventh-largest in just two months

The USD1 stablecoin, backed by Donald Trump’s World Liberty Financial (WLFI), has quickly become the seventh-largest stablecoin.

Launched just two months ago, it has grown from a market cap of $128 million to over $2 billion. The surge was boosted by Eric Trump’s announcement that MGX would use USD1 for a $2 billion investment in Binance.

Most of USD1’s issuance is on Binance’s BNB Chain, accounting for over 99% of its supply. A smaller portion is on Ethereum.

In late April, the coin’s market cap spiked 1,540%, growing from $128 million to $2.1 billion. The rapid rise led centralised exchanges, including HTX, to list USD1, with zero-fee withdrawals on the BEP-20 network.

Reports suggest that around 90% of USD1 investors are from outside the US, particularly Europe, Asia, and Latin America.

The coin’s growth aligns with Trump’s pro-stablecoin agenda, outlined in his January executive order to strengthen US leadership in digital financial technologies.

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US banks allowed to manage crypto on customers’ behalf

US banks are now allowed to manage crypto assets on behalf of their customers. The US Office of the Comptroller of the Currency (OCC) confirmed that banks can buy, sell, and hold crypto in custody. They can also outsource certain services, such as custody and execution, to third parties.

Acting Comptroller Rodney Hood stated that financial institutions could also provide tax reporting, record-keeping, and sub-custody services. These services must comply with legal and risk management guidelines.

The decision marks a shift towards integrating crypto into traditional banking systems, with over 50 million Americans now holding digital assets.

Industry experts have welcomed the OCC’s move. Katherine Kirkpatrick Bos of StarkWare said it signals a shift in the OCC’s stance, while Coinbase’s Faryar Shirzad praised the regulatory clarity.

The change comes amid the Trump administration’s more crypto-friendly approach, which includes reversing previous restrictions on banks’ crypto activities.

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G7 to address North Korea’s role in major crypto hacks

Leaders of the Group of Seven (G7) nations are set to tackle North Korea’s ongoing cyber threats, particularly its involvement in large-scale cryptocurrency hacks.

The agenda will reportedly focus on the regime’s use of stolen crypto funds to finance weapons programmes. The issue has raised international concern over global security risks.

The summit, hosted by Canadian Prime Minister Mark Carney from 15 to 17 June in Alberta, is expected to address geopolitical challenges, including North Korea’s tightening alliance with Russia. Such ties have further complicated attribution of attacks and enforcement of sanctions, experts warn.

Investigations have linked North Korean hackers, notably the Lazarus Group, to major crypto heists. These include the $622 million Axie Infinity breach and February’s $1.4 billion Bybit attack. Analysts believe other cyber units are also active, making digital asset protection a growing priority.

The G7, comprising France, Germany, Italy, Japan, the UK, the US and Canada, aims to strengthen coordination against cybercrime. It also seeks to limit the regime’s ability to exploit the crypto ecosystem for hostile purposes.

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Bitcoin advisor to Trump launches new investment company

David Bailey, the CEO of BTC Inc. and a senior crypto adviser to Donald Trump, has raised $300 million to launch a publicly traded Bitcoin investment firm.

The venture, called Nakamoto, is named after Bitcoin’s mysterious creator and will focus on acquiring and holding the cryptocurrency.

The funding includes $200 million in equity and $100 million in convertible debt. Plans for a merger with an already-listed Nasdaq firm are in place.

An official announcement is expected next week, and the public listing is likely to follow this summer. Nakamoto also plans to use Bitcoin as capital to invest in businesses worldwide, including Brazil, Thailand, and South Africa.

The approach mirrors moves by other crypto investment giants such as Michael Saylor’s Strategy and Jack Mallers’ Twenty One. The firm positions itself as offering institutional credibility with the potential for strong growth, appealing to investors seeking direct exposure to Bitcoin through the stock market.

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Long-dormant Bitcoin wallets awaken, moving $322M in BTC

Two long-inactive Bitcoin wallets, originally linked to the infamous Silk Road marketplace, have come back to life after nearly 11 years of silence. On 5 May 2025, blockchain monitoring platforms flagged two large transactions totalling 3,421 BTC, worth more than $322 million at the time of transfer.

The first wallet moved 2,343 BTC at block height 895,421. These funds were split into 31 outputs, with most redirected to a new Pay-to-Witness-Public-Key-Hash (P2WPKH) address. The second wallet, also created in July 2013, transferred 1,078 BTC at block height 895,433.

The transaction followed a similar pattern, moving funds to an unfamiliar destination address. Sani, the creator of timechainindex.com, confirmed that the Bitcoins originated from Silk Road activity, having been withdrawn in 2012.

The nature of the transfers was large and silent. The funds were redirected to fresh wallets, prompting speculation about the intent behind the moves. It is particularly intriguing due to its historic origins and potential regulatory implications.

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Bhutan launches first national crypto tourism payment system

Bhutan has launched the world’s first national-level crypto tourism payment system, in partnership with Binance Pay and DK Bank. Tourists can now pay for nearly everything, from flights to food, using over 100 cryptocurrencies like BTC, BNB, and USDC.

Payments are made via QR codes through the Binance app, with DK Bank converting crypto into Bhutan’s local currency instantly.

The new system offers benefits beyond convenience. Small businesses, especially in remote areas, can now accept crypto payments with just a smartphone. Local vendors, who previously lacked card payment infrastructure, now have new opportunities thanks to the system.

By eliminating cross-border payment issues, zero gas fees, and not relying on international card networks, the system makes transactions seamless. It sets a global precedent, potentially encouraging other countries to adopt similar models for tourism.

The Binance Pay Bhutan partnership is already making waves in the tourism sector, showing how crypto can connect cultures and improve travel experiences. Binance’s growing use case in tourism continues to build confidence in its token.

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