USDScams and Hacks Weekly Recap Exposes Crypto Chaos in Iran, France, US
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Iran Limits Crypto Exchange Hours After $90M Nobitex Hack by Pro-Israel Group
Iran's Central Bank has limited domestic crypto exchanges to operating hours from 10 AM to 9 PM following a cyberattack on Nobitex, the country’s largest crypto platform, which resulted in over $90 million lost in digital assets. The attack was claimed by the pro-Israel group Predatory Sparrow, linking it to rising tensions between Iran and Israel. Nobitex, processing over $11 billion in total inflows, is crucial for connecting Iran's economy to global crypto markets. The exchange has implemented security measures, including transferring Bitcoin to cold storage, amid increasing scrutiny of its operations related to sanctioned entities.
Crypto User Loses $6.9M to Compromised Cold Wallet Bought on Douyin
A crypto user lost nearly $7 million after purchasing a compromised cold wallet through Douyin, the Chinese version of TikTok. Blockchain security firm SlowMist revealed that the wallet's private key was compromised at creation, leading to funds being drained within hours. The incident highlights the dangers of discounted wallets, often tampered with to lure victims. An associate of the victim described the wallet as a “hot trap,” and funds were quickly laundered through the Huiwang network. SlowMist emphasized the importance of buying wallets from reliable sources to avoid similar scams, warning that stolen funds are usually unrecoverable.
Ohio Man Sentenced to Nearly 5 Years for $547,455 Email Fraud Scheme
Gabriel Waters, a 54-year-old from Ohio, received a 57-month prison sentence for masterminding a $547,455 email spoofing scheme that defrauded U.S. companies. The fraudsters imitated corporate email accounts to deceive victims into redirecting funds to bank accounts they controlled. Waters facilitated the operation by setting up U.S. bank accounts, receiving victim payments, and laundering the money into cryptocurrency for fraudsters abroad. U.S. District Judge Sharion Aycock also imposed five years of supervised release and ordered Waters to pay restitution of $547,455.80. This case follows another instance where an accountant laundered $800,000 in proceeds from a related scheme.
Alex Mashinsky Barred from Celsius Bankruptcy Assets Following 12-Year Prison Sentence
Alex Mashinsky, founder of the collapsed crypto lending platform Celsius, has been barred from receiving any assets from the company's bankruptcy claims following his criminal sentencing. Celsius filed for bankruptcy in July 2022 after its token, CEL, lost 99% of its value and was unable to process withdrawals. Mashinsky, arrested in 2023, pleaded guilty to commodities and securities fraud. In May 2025, he was sentenced to 12 years in prison by a US district judge. The DOJ criticized Mashinsky for misleading retail investors, misusing customer funds, and profiting while customers suffered significant losses, totaling billions.
Texas Governor Signs Bill Safeguarding Proposed Bitcoin Reserve from Dissolution
Texas Governor Greg Abbott has signed House Bill 4488, which safeguards certain state funds, including a proposed Bitcoin reserve, from being absorbed into general revenue. This bill protects dedicated funds from automatic dissolution in 2025. Meanwhile, Senate Bill 21, which would allow Texas to invest in Bitcoin and crypto assets with a market cap of at least $500 billion, awaits Abbott's decision by June 22. Currently, only Bitcoin meets this criterion. If SB21 is enacted, the Texas Strategic Bitcoin Reserve would receive legal protection under HB4488’s framework, pending the bill's passage.
DOJ Seizes $225 Million Linked to "Pig Butchering" Crypto Scams, Aims to Compensate Victims
On June 19, 2025, the U.S. Department of Justice (DOJ) announced the seizure of over $225 million in cryptocurrency linked to "pig butchering" scams, where fraudsters deceive victims into increasing investments until total loss occurs. This action, part of a broader crackdown on crypto frauds that cost Americans $5.8 billion in 2024, aims to restore victims' funds. Jeanine Pirro emphasized the DOJ's commitment to combating these crimes, while legislative efforts like the GENIUS Act seek to regulate stablecoins and enhance investor protection, reflecting the government's growing commitment to tackling crypto-related scams and restoring hope for recovery.
North Korean Hackers Target Crypto Professionals with New "PylangGhost" Malware via Fake Job Sites
North Korean threat group "Famous Chollima" is deploying new Python-based malware, "PylangGhost," targeting crypto professionals, particularly in India. Cisco Talos reported that attackers create fake job sites impersonating companies like Coinbase and Robinhood, luring victims through social engineering tactics. Once engaged, job seekers execute malicious commands under the guise of video interviews, compromising their devices. PylangGhost steals credentials from over 80 browser extensions, including popular crypto wallets and password managers. The malware also allows remote control of infected systems, enabling data theft and system control. This tactic follows earlier schemes involving fake jobs to target crypto developers.
France Reports 10th Wrench Attack of 2025 Amid Rising Violence Against Crypto Holders
In 2025, France experienced its 10th confirmed "wrench attack," with a 23-year-old crypto investor kidnapped near Paris. The assailants demanded a Ledger hardware wallet and €5,000 before releasing him. This incident contributes to 32 total wrench attacks globally this year, which is poised to be the most violent on record for crypto holders, surpassing the 36 incidents noted in 2021. Following a surge in attacks, including the kidnapping of Ledger co-founder David Balland earlier in January, French authorities are intensifying discussions with the crypto industry to enhance security and address these alarming trends.
This article has been refined and enhanced by ChatGPT.
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