Viral footage of a YouTuber’s crypto scam hub expose stunt in the Philippines notches 2.7M views, Kakao uncovers 70K scam apps. Asia Express. The Philippines’ Cybercrime Investigation and Coordinating Center (CICC) has launched an official investigation into a suspected scam operation based in the island city of Cebu, following a viral expos by YouTube content creator mrwn. In a 23-minute video that has garnered over 2.7 million views on YouTube and is spreading rapidly across social media, mrwn reveals how he hacked into the scam centers computers and CCTV system, exposing what appears to be a fraud ring operating out of a call center-style office. According to mrwn, the operation is estimated to earn $800,000 annually, with agents defrauding victims overseas through various methods, including stealing credit card data and coercing victims to transfer cryptocurrency via Bitcoin ATMs. Read more
Jacob Irwin-Cline said that he doubts he will ever recover the stolen crypto, which represents his life savings. An American tourist in the United Kingdom was reportedly drugged by an individual posing as a taxi driver, who stole the tourist's $123,000 in Bitcoin stored on a cell phone. According to a report from My London, Jacob Irwin-Cline went out to a London bar and had several drinks before calling an Uber to take him home. Cline said that he did not thoroughly check the details of the Uber ride on his phone and left with a random private cab driver resembling the Uber driver at first glance, but driving a different vehicle — a detail Cline would only discover after the incident. Read more
Senate Minority Leader Chuck Schumer will reportedly back efforts to amend the stablecoin bill to add guardrails against Trump crypto ties. Though a majority of members of the US Senate voted to advance a bill to regulate payment stablecoins on May 20, high-ranking Democrats are planning to propose an amendment to the legislation to address President Donald Trump’s connections to the cryptocurrency industry. According to a May 22 Axios report, Senate Minority Leader Chuck Schumer and Senators Elizabeth Warren and Jeff Merkley will file an amendment to the Guiding and Establishing National Innovation for US Stablecoins Act, or GENIUS Act, to block a US president from profiting from stablecoins. The proposed amendment would come after 18 Democrats sided with Republicans in the Senate in voting to advance the bill on May 20 after it failed a procedural vote on May 8. “Passing the GENIUS Act without our anti-corruption amendment stamps a Congressional seal of approval on Trump selling access and influence to the ...
An increase in leverage use and favorable regulatory changes could trigger an XRP rally to $3.50 and above. Key takeaways: The SEC’s decision on a spot XRP ETF could ignite a significant rally. The current $2.2 billion in XRP futures hints at growing institutional investor demand. Read more