Cryptocurrencies Archives | Page 86 of 174

Russian hackers exploit smart home devices for crypto mining and cyberattacks

The Russian Ministry of Internal Affairs has warned citizens that hackers are infecting smart home devices with crypto mining malware.

Officials claim cybercriminals aim to create networks of compromised devices that could also be used for DDoS attacks, surveillance, and even robbery.

To mitigate risks, the ministry advises regularly changing passwords, updating firmware, and purchasing devices from reputable manufacturers.

Crypto-related fraud is also rising in Russia, with criminals posing as brokerage employees to lure victims into fake exchanges.

Prosecutors in Yakutsk are investigating a case where a resident allegedly lost $4,600 to such a scheme. Authorities have launched a criminal case and a broader inquiry into fraudulent crypto operations.

Illegal crypto mining remains a pressing issue, particularly in regions like the North Caucasus and Siberia. Moscow has enforced seasonal bans on crypto mining until 2031, aiming to conserve electricity during peak winter months.

However, officials in Irkutsk report that while 308 MW of power was freed up, the unused capacity provided no tangible benefit to consumers.

Despite concerns, some government officials argue that mining bans are improving energy reliability. Transbaikal authorities claim no legal mining operations remain in the region and have found no evidence of illegal mining activity. Industry experts remain sceptical about the overall impact of these restrictions.

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Litecoin joins Telegram wallet for non-US users

Litecoin is now available in Telegram’s Wallet, expanding the app’s growing cryptocurrency ecosystem. Non-US users can buy, sell, and trade LTC within the wallet, alongside Bitcoin, Toncoin, and Tether.

With Telegram boasting nearly 1 billion monthly users, the integration could boost Litecoin’s adoption. However, external transfers are currently unavailable, meaning users cannot send LTC outside the wallet at this time.

Telegram continues expanding its cryptocurrency offerings, recently announcing plans to support more tokens, including meme coins. Passive rewards for holding TON and USDT will also be introduced.

To encourage adoption, Telegram is offering fee-free Litecoin purchases for the first seven days, making it easier for users to explore the new feature.

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USDC expands into Japan with new partnership and regulatory approval

Circle has announced a major move to introduce its stablecoin, USDC, to Japan through a partnership with SBI Holdings.

Starting 26 March, SBI VC Trade, a crypto exchange under SBI Holdings, will begin full-scale USDC trading. USDC has become the first international dollar-backed stablecoin to gain legal recognition under the country’s new stablecoin framework.

Jeremy Allaire, CEO of Circle, expressed excitement about the potential for cross-border transactions, digital payments, and financial innovation in Japan.

He cited the country’s transparent regulations as key to the successful integration of USDC into the market. With support from SBI Holdings, Circle Japan KK, and leading exchanges, the digital dollar is set to meet the needs of Japan’s evolving digital economy.

Circle is also gaining traction outside Japan, with the Philippines’ GCash wallet adding support for USDC. Stablecoins are growing in importance in the country’s remittance market.

Recently, USDC and Circle’s EURC stablecoin received regulatory approval in Dubai, becoming the first to be authorised under the Dubai Financial Services Authority’s framework.

With a market cap of $59.75 billion as of 25 March, USDC continues to grow, with $2.6 billion minted in the last 30 days.

Although Tether dominates the stablecoin market, Circle’s adherence to regulations positions it as a more widely accepted and regulated alternative.

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Strategy’s Bitcoin holdings surpass 500,000

Michael Saylor’s Strategy has surpassed 500,000 Bitcoin, acquiring 6,911 BTC for $584 million during the recent market dip.

The purchase, made between 17 March and 23 March, has boosted the company’s holdings to a total of 506,137 BTC. The average purchase price was approximately $84,529 per Bitcoin, marking a total acquisition value of around $33.7 billion.

The latest move comes shortly after the company announced the pricing of its preferred stock, which raised approximately $711 million.

Despite global concerns over trade wars and market uncertainty, Strategy remains confident in its Bitcoin investments. Analysts caution that market volatility, influenced by tariff concerns, could affect both traditional and digital assets until at least April.

Strategy’s continued accumulation of Bitcoin amid potential risks from global tariffs signals the company’s commitment to long-term cryptocurrency growth. The decision is made despite external market pressures.

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Visa-backed Rain secures funding for global growth

Rain, a global card issuing platform powered by stablecoins, has raised $24.5 million in a funding round led by Norwest Venture Partners.

Other investors include Galaxy Ventures, Goldcrest, Thayer, Hard Yaka, and existing backers such as Lightspeed Venture Partners and Coinbase Ventures.

The investment will help Rain enhance interoperability with traditional financial systems, expand internationally, and advance its stablecoin-based settlement infrastructure.

The company has grown significantly, reporting a 15-fold increase in transactions across more than 100 countries over the past year.

Rain has also secured principal membership with Visa, enabling it to issue cards in Europe, the US, and Latin America. Its platform allows businesses to create physical and virtual cards linked to both crypto wallets and fiat accounts. It also supports stablecoin settlements across multiple blockchain networks.

Norwest Venture Partners emphasised Rain’s role in bridging compliance with digital currencies, underscoring the growing interest in integrating stablecoins into mainstream financial services.

The latest funding positions Rain as a key player in the evolution of digital payments.

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IMF integrates Bitcoin into global economic reporting

The International Monetary Fund (IMF) has formally included Bitcoin and other digital assets in its latest Balance of Payments Manual (BPM7). However, it sets a global standard for tracking crypto-related financial activity.

Despite not recognising them as legal currency, the update provides a structured approach to classifying and reporting digital assets across borders.

Under the new framework, Bitcoin is a non-produced, non-financial asset, similar to land or natural resources. Stablecoins such as USDT and USDC are classified as financial instruments due to their backing by reserves and issuer liabilities.

The guidelines also cover crypto-related services, including staking and mining, ensuring greater transparency in international economic data.

The IMF’s decision coincides with increasing government involvement in Bitcoin. The US has established a strategic Bitcoin reserve, holding an estimated 200,000 BTC.

Meanwhile, El Salvador is accumulating Bitcoin despite IMF conditions tied to its financial aid package. These moves highlight Bitcoin’s growing role in national economic strategies, even as its legal status remains debated.

Reactions to the IMF’s update have been mixed. Some in the crypto community view it as a step toward Bitcoin’s mainstream acceptance.

Others argue it is merely a technical change in statistical reporting. Regardless, the new framework ensures that digital assets are officially accounted for in global financial data, potentially influencing future regulations and policies.

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Crypto scam victims to receive $7M in recovered funds

US authorities will return $7 million to victims of a crypto investment scam. Fraudsters tricked investors into sending money to fake platforms before funnelling funds through 75 bank accounts. The US Secret Service seized assets from a foreign bank in 2023 and settled.

Victims were misled into believing their investments were growing, only to face demands for more money. When they attempted withdrawals, scammers claimed additional tax payments were required. The recovered funds will now be distributed to affected investors.

The 2025 Crypto Crime Report highlights the rise of sophisticated cyber scams. Australian police recently warned about fraudulent messages mimicking major exchanges. Other scams have involved malware disguised as legitimate trading software.

Microsoft’s security team has identified a new trojan targeting crypto wallets in Chrome extensions. As cybercriminals refine their tactics, authorities urge investors to stay vigilant and verify platforms before transferring funds.

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Bitcoin giant Strategy plans another BTC shopping spree

Bitcoin-focused firm Strategy has announced a new $711 million preferred stock offering as part of its ongoing efforts to grow its massive BTC holdings. The shares, priced at $85 with a 10% coupon, are part of the company’s strategy to raise both equity and debt to fuel its treasury accumulation of Bitcoin.

The latest move follows Strategy’s smallest-ever BTC acquisition on 17 March, when it purchased 130 Bitcoin worth around $10.7 million. This brought its total stash to 499,226 BTC, valued at over $41.8 billion. Despite the modest scale of the recent buy, co-founder Michael Saylor has reaffirmed the company’s intention to aggressively raise further capital to keep adding to its reserves.

Earlier in March, Strategy launched its 8% Series A preferred stock programme, with plans to raise up to $21 billion for future Bitcoin purchases. The firm appears to be attracting investors with returns that outpace traditional bond yields, enticing them away from conventional debt markets.

While the company remains up roughly 26% on its Bitcoin investments overall, its shares have experienced sharp fluctuations, dropping 44% since their peak in late 2024. Nonetheless, a recent rebound saw shares rise to around $299 after dipping to $231. As part of the Nasdaq 100, Strategy is seeing increased exposure to both market gains and tech sector volatility.

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Monero surges as privacy coins gain momentum

Monero’s price has been climbing for three consecutive days, reaching its highest point since April 2022. The privacy-focused cryptocurrency surged to $216.3, marking a 110% gain from its lowest level in 2024 and outperforming major assets like Bitcoin and Ethereum.

The rally followed a key US court decision concerning Tornado Cash, a privacy tool previously sanctioned by the Treasury Department.

A judge ruled that smart contracts operating autonomously cannot be classified as property, leading to the lifting of sanctions. This decision fuelled optimism for privacy coins, which have faced regulatory scrutiny over concerns of illicit use.

Due to this scrutiny, major exchanges such as Binance, Kraken, and Coinbase delisted Monero in recent years. However, the Tornado Cash ruling may prompt some platforms to reconsider their stance, potentially restoring Monero and similar tokens like Dash, Zcash, and Horizen to wider markets.

Technical indicators suggest continued bullish momentum, with Monero trading above the 50-week Exponential Moving Average. If the price breaks above its current ascending channel, further gains towards $290—a key resistance level from April 2022—could be expected.

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$TRUMP meme coin jumps after Trump calls it ‘the greatest’

US President Donald Trump’s recent endorsement of the $TRUMP meme coin on Truth Social has led to a temporary price surge. Trump called the coin ‘the greatest of all,’ sharing his excitement with his 9.3 million followers.

The post sent the token’s price to a high of $12.17, before settling around $11.85. Despite the boost, the coin remains down by 84% from its all-time high of $73.4, reached shortly after its launch in January.

The Solana-based $TRUMP token was launched in January 2025, reaching a peak market value of over $14.5 billion just before Trump’s inauguration.

However, the coin has raised concerns about unregulated financial influence and potential risks to investors, especially with its connection to the President’s brand.

While Trump had previously expressed limited knowledge about the coin, his latest post has reignited interest.

Lawmakers, including Rep. Sam Liccardo, have also raised alarms, with some pushing for regulations such as the MEME Act to prevent federal officials and their families from profiting off meme coins.

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