A Manhattan-based crypto investor has been charged with kidnapping an Italian man. He allegedly tortured the victim in an attempt to gain access to his Bitcoin wallet.
John Woeltz, 37, was arrested on 24 May and later appeared in court, where he pleaded not guilty to four felony charges, including kidnapping for ransom.
Police said the 28-year-old victim was held inside a rented townhouse in Soho after arriving in the US on 6 May. He was allegedly beaten, electroshocked, and threatened with a firearm when he refused to give up his wallet credentials.
The man eventually escaped and contacted the authorities. Photographs found at the scene appeared to show signs of ongoing abuse.
A woman was also taken into custody, although no charges were filed against her. Investigators have not confirmed whether any cryptocurrency was taken or what the relationship between the parties may have been.
The case comes as more crypto executives and investors seek private security due to a rise in ransom threats. In France, authorities have introduced extra protections for those in the crypto industry.
These measures follow several kidnapping incidents, including the abduction of Ledger co-founder David Balland earlier this year.
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AI agents are becoming common in crypto, embedded in wallets, trading bots and onchain assistants that automate decisions and tasks. At the core of many AI agents lies the Model Context Protocol (MCP), which controls their behaviour and interactions.
While MCP offers flexibility, it also opens up multiple security risks.
Security researchers at SlowMist have identified four main ways attackers could exploit AI agents via malicious plugins. These include data poisoning, JSON injection, function overrides, and cross-MCP calls, all of which can manipulate or disrupt an agent’s operations.
Unlike poisoning AI models during training, these attacks target real-time interactions and plugin behaviour.
The number of AI agents in crypto is growing rapidly, expected to reach over one million in 2025. Experts warn that failing to secure the AI layer early could expose crypto assets to serious threats, such as private key leaks or unauthorised access.
Developers are urged to enforce strict plugin verification, sanitise inputs, and apply least privilege access to prevent these vulnerabilities.
Building AI agents quickly without security measures risks costly breaches. While adding protections may be tedious, experts agree it is essential to protect crypto wallets and funds as AI agents become more widespread.
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Most top holders of the TRUMP meme coin sold or moved their tokens before attending Donald Trump’s exclusive crypto dinner on Thursday.
Only eight of the 25 wallets that earned VIP access still held TRUMP tokens the next day, data from Solscan shows.
Tron founder Justin Sun was among those who retained his holdings, keeping nearly all of the 1.43 million TRUMP tokens that secured his top spot on the leaderboard.
The wallet linked to MemeCore, a meme coin blockchain, also kept its full balance. However, most other wallets sent their tokens to centralised exchanges like Coinbase, Binance, or Wintermute.
The combined average holdings of the VIP group have dropped to roughly $2.11 million from around $4.78 million. The top two wallets now make up the bulk of the value, holding nearly $37.3 million combined.
Those who sold or transferred their coins will no longer qualify for the limited edition ‘diamond hand’ NFT, which was reserved for loyal holders.
The timing of the sales has raised concerns about potential ‘pay-to-play’ tactics. Some lawmakers say these investments aimed to buy access to Trump, leading to protests and a proposed bill to block his crypto profits.
Senators had already requested an ethics probe ahead of the dinner. Meanwhile, the TRUMP token has fallen 14% in the past 24 hours and is now down over 80% from its January peak.
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Staying safe from cybercriminals can be surprisingly simple. While AI-powered scams grow more realistic, some signs are still painfully obvious.
If you spot the letters ‘.TOP’ in any message link, it’s best to stop reading and hit delete. That single clue is often enough to expose a scam in progress.
Most malicious texts pose as alerts about road tolls, deliveries or account issues, using trusted brand names to lure victims into clicking fake links.
These links often lead to freshly created domains designed to look convincing, yet they typically vanish within hours. Millions of such messages are sent monthly, and they’re powered by a constant churn of throwaway domains.
The worst of these is the ‘.TOP’ top-level domain (TLD), which has become infamous for its role in phishing and scam operations. Although launched in 2014 for premium business use, its low cost and lack of oversight quickly made it a favourite among cyber gangs, especially those based in China.
Today, nearly one-third of all .TOP domains are linked to cybercrime — far surpassing the criminal activity seen on mainstream domains like ‘.com’.
Despite repeated warnings and an unresolved compliance notice from internet regulator ICANN, abuse linked to .TOP has only worsened.
Experts warn that it is highly unlikely any legitimate Western organisation would ever use a .TOP domain. If one appears in your messages, the safest option is to delete it without clicking.
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Islamabad plans to dedicate 2,000 megawatts of surplus electricity to support Bitcoin mining and AI data centres. The initiative aims to turn excess power into a driver for technology growth, as part of Pakistan’s wider digital infrastructure strategy.
Officials see the move as a way to boost tech industries and attract foreign investment.
The Pakistan Crypto Council, established earlier this year, leads the project. The country’s energy sector faces challenges from high tariffs and surplus generation, partly due to rapid solar power expansion.
Using excess electricity for crypto mining and AI data centres offers a productive solution to these issues.
Finance Minister Muhammad Aurangzeb recently approved the Pakistan Digital Assets Authority to regulate the growing crypto industry. He emphasised that regulation should help Pakistan not only catch up but take a leading role in the sector.
The PCC’s CEO Bilal Bin Saqib has engaged with the Power Minister to attract global crypto miners, describing Pakistan as a low-cost, high-growth market ready to compete.
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As AI-generated images grow increasingly lifelike, a cyber security expert has warned that families should create secret passwords to guard against deepfake scams.
Cody Barrow, chief executive of EclecticIQ and a former US government adviser, says AI is making it far easier for criminals to impersonate others using fabricated videos or images.
Mr Barrow and his wife now use a private code to confirm each other’s identity if either receives a suspicious message or video.
He believes this precaution, simple enough for anyone regardless of age or digital skills, could soon become essential. ‘It may sound dramatic here in May 2025,’ he said, ‘but I’m quite confident that in a few years, if not months, people will say: I should have done that.’
The warning comes the same week Google launched Veo 3, its AI video generator capable of producing hyper-realistic footage and lifelike dialogue. Its public release has raised concerns about how easily deepfakes could be misused for scams or manipulation.
Meanwhile, President Trump signed the ‘Take It Down Act’ into law, making the creation of deepfake pornography a criminal offence. The bipartisan measure will see prison terms for anyone producing or uploading such content, with First Lady Melania Trump stating it will ‘prioritise people over politics’
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FIFA has picked Avalanche to power its own blockchain network, ending its partnership with Algorand. The move signals a major step in expanding FIFA’s Web3 ambitions and digital asset strategy.
The new platform, a custom Avalanche Layer-1 blockchain, offers faster transaction speeds, lower fees, and simple wallet access. FIFA Collect will migrate to the new network, with support for EVM wallets like MetaMask, starting after 20 May.
Ava Labs, which developed Avalanche, said the deal was secured thanks to the network’s 6,500+ transactions per second and enterprise-grade reliability. Modex CEO Francesco Abbate confirmed that FIFA chose Avalanche after a full review of scalability, costs, and performance.
FIFA’s NFT marketplace is not the only project in the works. The football body is exploring other digital products, including immersive fan experiences. Meanwhile, AVAX, Avalanche’s native token, saw a surge in trading volume following the announcement.
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Tether plans to launch a separate stablecoin for the US market while keeping USDT focused on unbanked users in emerging economies. CEO Paolo Ardoino said the new coin would be tailored to meet domestic needs, with features different from USDT.
He noted the company is becoming more comfortable with the proposed GENIUS Act and aims to comply. Ardoino also said the act is more practical than Europe’s MiCA rules, which Tether believes place unnecessary pressure on dollar-based reserves.
Tether’s main mission remains supporting the 1.4 billion unbanked adults worldwide, especially in regions like Sub-Saharan Africa and Asia. Ardoino said USDT is often used for remittances and savings, with many relying on its stability during economic crises.
The GENIUS Act, now advancing through the US Senate, distinguishes between domestic and foreign stablecoin issuers. Tether supports the act and wants clarity before launching a stablecoin tied to the US market.
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Authorities across Europe, North America and the UK have dismantled a major global malware network by taking down over 300 servers and seizing millions in cryptocurrency. The operation, led by Eurojust, marks a significant phase of the ongoing Operation Endgame.
Law enforcement agencies from Germany, France, the Netherlands, Denmark, the UK, the US and Canada collaborated to target some of the world’s most dangerous malware variants and the cybercriminals responsible for them.
The takedown also resulted in international arrest warrants for 20 suspects and the identification of more than 36 individuals involved.
The latest move follows similar action in May 2024, which had been the largest coordinated effort against botnets. Since the start of the operation, over €21 million has been seized, including €3.5 million in cryptocurrency.
The malware disrupted in this crackdown, known as ‘initial access malware’, is used to gain a foothold in victims’ systems before further attacks like ransomware are launched.
Authorities have warned that Operation Endgame will continue, with further actions announced through the coalition’s website. Eighteen prime suspects will be added to the EU Most Wanted list.
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Five major US banking groups have asked the Securities and Exchange Commission (SEC) to drop its cyber security disclosure rule. The rule requires public companies to report incidents, such as data breaches, within four days.
The American Bankers Association and others said in a letter that the rule conflicts with systems built to protect critical infrastructure. They warned it may hurt law enforcement and cause market confusion.
The rule, introduced in July 2023, also affects crypto firms like Coinbase. However, the exchange recently reported a breach where hackers bribed staff for user data. Coinbase rejected a $20 million ransom but now faces at least seven lawsuits.
Banking groups want the SEC to remove Item 1.05 from Form 8-K rules. They argue investors would still be protected under existing rules for material information, without the risks of rushed public reporting.
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