Crypto scammers are switching from code to exploiting human vulnerabilities that don’t require breaking through complex cybersecurity guardrails. A cryptocurrency investor lost $3 million in a phishing scam after signing a malicious blockchain transaction without verifying the contract address, highlighting the risk posed by digital asset scams. A single wrong click was all it took to drain $3 million worth of USDt (USDT) from an investor who failed to verify the contract address before signing the blockchain transaction. “Someone fell victim to a phishing attack, signed a malicious transfer, and lost 3.05M $USDT,” according to a Wednesday X post from blockchain analytics platform Lookonchain. “Stay alert, stay safe. One wrong click can drain your wallet. Never sign a transaction you don’t fully understand.” Read more
The Payments Association’s Riccardo Tordera told Cointelegraph that lifting the ETN ban allowed individual investors to make their own choices at their own risk. The United Kingdom’s financial regulator lifted a ban on crypto exchange-traded notes (cETNs) for retail investors in a move welcomed by industry leaders as a step toward aligning the UK with global crypto markets as a digital asset hub. On Friday, the UK’s Financial Conduct Authority (FCA) reversed the ban on retail access to cETNs, with regulatory changes taking effect from Oct. 8. The ban was enforced in January 2021, citing extreme volatility and “lack of legitimate investment need.” Lifting the cETN ban reflects a change in the regulator’s approach to crypto assets. In a statement, an FCA executive said the decision reflected how the market had evolved and how crypto-related products are better understood. Read more
South Korea’s BDACS has rolled out institutional custody support for XRP, following its partnership with Ripple and integration with top South Korean exchanges. South Korean crypto custodian BDACS has launched institutional custody support for XRP following its February partnership agreement with Ripple. The move provides institutions with regulated access to one of the world’s most actively traded digital assets. The rollout, announced via BDACS’s X account on Tuesday, enables institutions to securely store and manage XRP (XRP) using Ripple Custody, Ripple’s enterprise-grade custody solution. “We’re thrilled to offer custody support for XRP, one of the most popular digital assets in Korea, to our institutional clients,” BDACS wrote. “This launch strengthens our long-standing partnership with Ripple and underscores our commitment to the Korean market.” Read more