Alabama’s Securities Commission (ASC) has reclaimed $125,000 in crypto for two residents who lost a combined $580,000 to ‘pig butchering’ scams—a form of romance fraud where victims are lured into fake crypto investments. The Baldwin County victim lost $185,000 after meeting a scammer on Bumble, while the Etowah County victim was defrauded of $395,310 via a WhatsApp ad impersonating Charles Schwab. Pig butchering scams now account for 33.2% of global crypto fraud ($9.9 billion in 2024), with criminals shifting to shorter cons to target more victims. The ASC warns that delays in reporting drastically reduce recovery chances, as most scams originate overseas with irreversible transactions. Federal authorities have sanctioned entities like Philippines-based Funnull Technology for enabling such schemes.
about Alabama Recovers $125K in Crypto from Pig Butchering ScamsCryptoSlam
0 in Finance and 0 in Crypto last weekAI Deepfakes Drive 40% of High-Value Crypto Scams in 2024
A Bitget report reveals that AI deepfakes of celebrities and officials drove 40% of high-value crypto scams in 2024, contributing to $4.6 billion in losses—a 24% annual increase. Scammers are leveraging advanced AI tools to impersonate figures like Elon Musk, bypass KYC checks, and conduct fake Zoom calls to steal data or crypto keys. Social engineering (e.g., pig butchering scams) and digitally evolved Ponzi schemes (disguised as DeFi or NFTs) rounded out the top threats. The report warns that AI has made scams more personalized and harder to detect, urging users to question even what they see. Regulatory gaps persist, as deepfakes remain largely unregulated despite their growing misuse.
about AI Deepfakes Drive 40% of High-Value Crypto Scams in 2024$4.6B Lost to Crypto Scams in 2024: AI Deepfakes Surge
A collaborative report by Bitget, SlowMist, and Elliptic highlights a 24% increase in crypto scams in 2024, totaling $4.6 billion in losses. Deepfake AI impersonations, social engineering schemes, and modern Ponzi scams are the top threats, with nearly 40% of high-value frauds involving AI-generated videos of public figures like Elon Musk. Scammers are also exploiting KYC procedures, forging customer service interactions, and using fake platform dashboards. Social engineering tactics include AI-powered arbitrage bot scams and phishing links, while modern Ponzi schemes disguise themselves as legitimate DeFi, NFT, or GameFi projects. The report cites the JPEX scandal in Hong Kong, where $213 million was lost, and exposes rug pulls like Leaper Finance. To combat this, Bitget and partners launched an Anti-Scam Hub and a $300 million protection fund to trace illicit funds and disrupt phishing networks.
about $4.6B Lost to Crypto Scams in 2024: AI Deepfakes SurgeYouTuber Exposes $800K Crypto Scam in Cebu
A YouTuber infiltrated and exposed an $800,000 crypto scam operating from the Skyrise building in Cebu IT Park, Philippines. The fraudulent call center used fake investment products such as Quantum AI and Bitcoin Code to lure victims from South Africa, Nigeria, and Gulf countries, previously targeting Canada, the UK, and Europe. The scammers operated under multiple aliases, including BMJ Data Processing Services and Virtual Wealth Exchange, exploiting the Philippines’ low labor costs and English proficiency to run their global fraud scheme. The YouTuber’s live confrontation and CCTV hack revealed the operation’s scale and methods.
about YouTuber Exposes $800K Crypto Scam in CebuMoonbirds NFT Sales Spike After IP Acquisition by Orange Cap Games
The Moonbirds NFT collection, originally created by Yuga Labs, has experienced a dramatic resurgence in sales following the acquisition of its intellectual property by blockchain game developer Orange Cap Games. According to CryptoSlam data, weekly sales volume surged by 2,525% to over $2 million, while monthly figures for June already surpassed May’s total of $900,000. Transaction activity also spiked, with over 1,000 sales in the past week—an 877% increase. This deal highlights how strategic IP acquisitions can breathe new life into NFT projects and drive renewed investor interest.
about Moonbirds NFT Sales Spike After IP Acquisition by Orange Cap GamesPolygon NFTs Hit $2B Sales, Courtyard Rivals DraftKings
Polygon’s NFT ecosystem has achieved a major milestone, surpassing $2 billion in all-time sales volume, with Courtyard emerging as a key player rivaling DraftKings. CryptoSlam data reveals steady monthly growth, starting at $16.3 million in November 2024 and climbing to $37 million by February 2025. This upward trend underscores increasing interest and adoption of Polygon-based digital collectibles, positioning the network as a strong contender in the NFT space.
about Polygon NFTs Hit $2B Sales, Courtyard Rivals DraftKingsNFT Buyers Surge 50% in May as Sales Rebound
After months of decline, the NFT market is experiencing a resurgence, with unique buyers jumping 50% in May to 936,000, according to CryptoSlam. Sales volume rose to $430 million, a 15% increase from April, signaling renewed interest in digital collectibles. This marks the first monthly sales growth in 2025, following a five-month slump since the December 2024 peak of over $900 million. May also recorded the highest number of transactions this year, totaling 5.5 million, indicating a potential market recovery.
about NFT Buyers Surge 50% in May as Sales ReboundDoodles NFT Sales Surge 97% Ahead of Token Airdrop
Doodles NFT sales skyrocketed by 97% in 24 hours, reaching over $1.1 million as traders positioned themselves ahead of the project’s token generation event and airdrop. According to CryptoSlam, this spike placed Doodles third in daily NFT sales, trailing only DMarket and Courtyard NFTs. Weekly sales volume also surged by 368% to $2.6 million, ranking fifth among all NFT collections. The anticipation of new tokenomics, including a memecoin launch, appears to be driving the renewed demand for Doodles’ digital collectibles.
about Doodles NFT Sales Surge 97% Ahead of Token AirdropZed Champions Launches on Base: A New Era for Digital Horse Racing
Virtually Human Studios has unveiled Zed Champions, a revamped digital horse racing game launching on Base, Coinbase’s Ethereum layer-2 network. Unlike its predecessor, Zed Run, the new game features automated racing and a deeper integration of the ZED token, used for entering races, breeding horses, and purchasing power-ups. Horses in Zed Champions have internal ZED token balances that fluctuate based on performance, adding a strategic layer to gameplay. Legacy Zed Run horses won’t transfer, but previous players were rewarded with in-game assets. The original Zed Run, once a leading NFT game, saw declining interest before its shutdown earlier this year. Zed Champions aims to revitalize the franchise with a sustainable model and fresh mechanics.
about Zed Champions Launches on Base: A New Era for Digital Horse Racing