A British hacker who hijacked celebrity social media accounts to steal cryptocurrency has been ordered to repay over $5.4 million. Joseph James O’Connor used SIM swapping attacks to compromise accounts belonging to Barack Obama, Elon Musk, and other high-profile figures. The repayment amount reflects the substantial appreciation of the stolen digital assets since the 2020 theft.
about SIM Swapper Ordered to Repay $5.4M in Stolen CryptoBarack Obama
0 posts last weekJudge Rules Bored Ape NFTs Are Not Securities
In a landmark decision that provides crucial legal clarity for the digital asset industry, a California federal judge has dismissed a class-action lawsuit against Yuga Labs, ruling that Bored Ape Yacht Club NFTs do not qualify as securities. The ruling by Judge Fernando M. Olguin represents a significant victory for the embattled crypto company and establishes important distinctions between NFTs sold through third-party marketplaces versus proprietary platforms, contrasting sharply with previous cases where other NFT collections were deemed securities.
about Judge Rules Bored Ape NFTs Are Not SecuritiesUS Shutdown Threatens XRP ETF Approvals & Price Momentum
A potential US government shutdown threatens to derail critical regulatory approvals for XRP-based financial products. With prediction markets indicating a 73% chance of funding lapse, crypto ETFs and Ripple’s banking ambitions face significant delays. The timing couldn’t be worse for XRP’s institutional adoption trajectory.
about US Shutdown Threatens XRP ETF Approvals & Price MomentumX Sues Banned Crypto Scammers Over Employee Bribery Scheme
Social media platform X has launched legal proceedings against banned users who attempted to bribe employees to regain access, revealing that crypto scammers were central to a bribery network linked to wider criminal organizations. The company, cooperating with law enforcement, underscores a persistent security challenge that echoes past breaches involving high-profile account takeovers and cryptocurrency fraud.
about X Sues Banned Crypto Scammers Over Employee Bribery SchemeCoinbase Adds Obama Strategist Plouffe to Advisory Council
Coinbase has strengthened its political influence by adding David Plouffe, a key architect of Barack Obama’s 2008 campaign, to its Global Advisory Council. Plouffe joins other high-profile figures, including Trump’s former campaign manager Chris LaCivita, as the crypto industry ramps up lobbying efforts ahead of critical regulatory decisions. Speaking at Coinbase’s summit, Plouffe described crypto holders as politically competitive swing voters, emphasizing the industry’s growing impact on elections. The appointment comes as Congress advances crypto-friendly legislation, including stablecoin regulation and market structure bills. Coinbase’s Chief Policy Officer highlighted Plouffe’s ability to build coalitions and drive policy, while Plouffe and LaCivita discussed targeting ‘crypto voters’ in the 2024 election. The industry has already spent over $130 million on congressional races, signaling its rising political clout.
about Coinbase Adds Obama Strategist Plouffe to Advisory CouncilDavid Plouffe Joins Coinbase Advisory Council
David Plouffe, known for his advisory roles in political campaigns and crypto firms like Alchemy Pay and Binance, has been appointed to Coinbase’s Global Advisory Council. The move highlights Coinbase’s efforts to navigate regulatory landscapes and enhance its influence in future elections. Plouffe emphasized at Coinbase’s State of Crypto Summit that crypto ownership may not be a voter’s top priority, underscoring the need for strategic policy engagement. His inclusion marks a significant step in bridging politics and cryptocurrency advocacy.
about David Plouffe Joins Coinbase Advisory CouncilParaguay Denies Bitcoin Reserve Announcement as Hack
The Paraguayan government quickly refuted a tweet from President Santiago Peña’s X account announcing Bitcoin as legal tender and a $5 million reserve, labeling it a hack. The post included a Bitcoin address, likely part of a scam to lure investors. This incident follows a pattern of high-profile account hacks promoting crypto scams, including past breaches involving Indian Supreme Court’s YouTube and X accounts of celebrities like Elon Musk. While Paraguay is Bitcoin-friendly with crypto mining operations, only El Salvador in the region has adopted Bitcoin as legal tender, despite IMF objections.
about Paraguay Denies Bitcoin Reserve Announcement as HackNetflix’s FTX Drama: Obama-Produced Series on Crypto Collapse
Netflix has greenlit *The Altruists*, a dramatization of the FTX collapse and Sam Bankman-Fried’s downfall, produced by the Obamas’ Higher Ground. The series stars Julia Garner as Caroline Ellison and Anthony Boyle as Bankman-Fried, tracing FTX’s rise to a $32B valuation, its fraud-driven collapse, and the legal consequences. The narrative will delve into the duo’s relationship and their ‘effective altruism’ philosophy, while also addressing Bankman-Fried’s bipartisan political ties. Directed by James Ponsoldt and written by Oscar-winner Graham Moore, the show aims to balance corporate intrigue with personal drama. Filming begins in Vancouver in 2025, with a likely 2026 release. Key figures include $8B in misused funds, Bankman-Fried’s 25-year sentence, and Ellison’s 2-year plea deal.
about Netflix's FTX Drama: Obama-Produced Series on Crypto CollapseHackers Hijack UK Politician’s X Account to Push Fake Crypto
Cybercriminals hijacked British politician Lucy Powell’s verified X account to promote a fake cryptocurrency, ‘House of Commons Coin (HCC),’ falsely claiming it was a community-driven digital asset. The breach, swiftly addressed by Powell’s office, underscores a rising pattern of hackers leveraging trusted public figures to legitimize scam tokens. Similar incidents have occurred globally, including in Argentina and the Philippines, where politicians’ accounts were compromised to push dubious crypto projects. These attacks exploit the credibility of officials to manipulate investors, often leading to financial losses. The trend echoes past high-profile breaches, such as the 2020 Twitter hack involving Barack Obama and Elon Musk, where fraudulent Bitcoin doubling schemes were promoted.
about Hackers Hijack UK Politician's X Account to Push Fake CryptoBitcoin Surges Past $80K Amid Trump’s Bullish Comments
Bitcoin is trading above $80,000 after a brief rally to $83,000, though still 25% below its all-time high. Former President Donald Trump’s recent comments, ‘This is a great time to buy,’ coincided with a market surge, with Bitcoin jumping 10% and traditional indices like the S&P 500 and NASDAQ also posting significant gains. Analysts draw parallels to Obama’s 2009 market-boosting remarks, suggesting potential for a prolonged bullish cycle. Additionally, Bitcoin’s network fundamentals remain robust, with record-high hashrate and mining difficulty signaling strong miner confidence. CryptoQuant analysts highlight Bitcoin’s growing macroeconomic influence and potential for further upside, with some projecting a market cap as high as $5 trillion.
about Bitcoin Surges Past $80K Amid Trump's Bullish CommentsTrump’s Second Term: Historical Patterns and Economic Concerns Ahead
President Trump’s return to the White House has sparked optimism on Wall Street, with major indices seeing significant gains. However, historical data indicates a troubling correlation between Republican presidencies and recessions, suggesting potential economic challenges ahead. The current high valuations in the stock market, particularly the S&P 500’s Shiller P/E ratio nearing record levels, further heighten concerns about a possible downturn during Trump’s second term.
about Trump's Second Term: Historical Patterns and Economic Concerns AheadHester Peirce Advocates for Looser Crypto Regulations as SEC Commissioner
Hester Peirce, known as “crypto mom,” has been appointed head of President Trump’s Crypto Task Force, advocating for looser regulations on digital assets. A commissioner at the [SEC](https://www.sec.gov) since 2017, she emphasizes free markets and has criticized the agency’s handling of cryptocurrencies, calling for regulatory clarity and self-determination for individuals in the crypto space.
about Hester Peirce Advocates for Looser Crypto Regulations as SEC Commissioner