Hong Kong romance scams netted $9M in a week; crypto fraud cases rise. Malaysia withdraws support for Blockchain Week over OnlyFans controversy. China warns of Bitcoin extortion using its name. FalconX cuts Singapore staff. South Korea plans stablecoin rules; Japan Bitget exits market.
Minnesota has enacted a law prohibiting virtual currency kiosks, effective August 1, following Governor Tim Walz's signing of SF 3868 in May. The ban aims to curb scams, which caused residents $1 million in losses from 2023-2025, disproportionately targeting seniors.
A multi-university study reveals AI chatbots can build trust more effectively than human scammers in the initial, relationship-establishing phases of "pig butchering" crypto investment scams. The AI agents successfully impersonated humans, leading to higher victim compliance and trust scores, suggesting AI could automate much of the fraud process.
Texans lost $56.8 million to cryptocurrency kiosk scams in 2025, the highest in the U.S., according to FBI figures. Lawmakers on the House Committee on Homeland Security, Public Safety and Veterans' Affairs discussed the issue, with some states already banning or regulating the machines.
A Consumer Federation of America report estimates $80.7 billion in scam and cybercrime losses in the US, with cryptocurrency scams accounting for over half, at $61.4 billion estimated loss, based on FBI-reported $11.37 billion, a 22% increase from 2024.
India proposes legal amendments to define punishments for deepfakes and digital impersonation scams, aiming to curb misinformation and financial fraud amid geopolitical tensions.
Young men and boys in Australia are increasingly targeted by sextortion scams, with 2,206 complaints from July to December 2025. Advances in AI facilitate the creation of deep-fake sexualised images, making the problem worse. Authorities urge victims not to pay and to report incidents immediately.
The US has implemented a new global visa restriction policy targeting individuals involved in cybercrime, including online investment scams and sextortion. The policy, announced by Secretary of State Marco Rubio, also applies to immediate family members and aims to combat international cybercrime networks, particularly those defrauding US citizens.
FBI Director Kash Patel met Cambodian PM Hun Manet to discuss joint efforts against international online scam operations, which caused estimated losses of $114 billion in Asia-Pacific by 2025. The U.S. prioritizes combating these scams, linked to human trafficking.
After China's 2023 crackdown on online scams in Southeast Asia, criminal syndicates shifted their primary targets from Chinese nationals to Americans, leading to significant financial losses for US victims and creating a global "whack-a-mole" challenge.
U.S. prosecutors seized over $25 million in cryptocurrency linked to international romance and investment scams that defrauded thousands in the U.S. and Canada. The Justice Department's Scam Center Strike Force, launched in November 2025, recovered the funds.
The US Department of Justice filed five civil forfeiture complaints seeking over $25 million in crypto linked to international investment, romance, and recovery scams. Investigations by the Cyber Fraud Task Force identified thousands of victims in the US and Canada, with launderers primarily in Southeast Asia.
A new UNODC report reveals online scams, primarily investment fraud, cost victims an estimated US$88.3 billion to US$114.1 billion last year, a significant increase from 2023. Authorities in an unspecified region are reportedly cracking down on this illicit industry under pressure from the United States, Britain, and China.
Scammers are sending sophisticated fake X (formerly Twitter) login notification emails that closely mimic legitimate alerts to trick users into revealing their passwords or granting malicious app access. Cybersecurity experts advise users to avoid clicking links and instead check the official app for security issues.
Chris Mufarrige, director of the FTC's consumer protection bureau, asserts his agency's strong record despite criticisms regarding political interference and staff cuts. He highlights recent settlements and ongoing investigations into deceptive practices, particularly concerning online scams and AI's impact on children.
A crypto wallet tied to romance scam money laundering handled over $122.5M in 10 months. Interpol-coordinated Operation First Light 2026 involved 97 countries, leading to 5,811 arrests and $293M in seized assets.
Financial expert Nunn emphasizes automating savings by setting up direct debits or using round-up tools. He also advises building an emergency fund of 1-3 months' salary and warns about online financial influencers promoting risky products, especially crypto.
Amazon, eBay, and Etsy face a surge in scams using AI-generated images to sell non-existent flower seeds. Scammers create convincing visuals of unique flowers like bird-shaped or rainbow roses, leading to customer dissatisfaction and potential environmental risks.
India's Ministry of Home Affairs warns citizens about rising online investment scams. Cybercriminals use WhatsApp and Telegram to lure victims with fake high returns, fraudulent trading apps via private links, and blocked withdrawals. A retired scientist lost money in such a scam.
A widespread crypto scam on Meta's Threads app uses fake Mr Beast news screenshots and obscure URLs to promote over 10,000 malicious crypto casino websites. Security researchers Zach Edwards and Mark Beare note the scam's unusual tactics, designed to evade Meta's detection systems and exploit the Threads algorithm for visibility, raising questions about the platform's enforcement effectiveness.
WhatsApp issued clarifications on its upcoming 'Username' feature, addressing privacy, safety, and impersonation concerns. The feature, designed to allow connections without sharing phone numbers, will be optional. The Indian government has directed Meta not to roll out the feature until consultations are complete, citing potential for fraud and impersonation.
Online stores are selling fraudulent "Made in the USA" products, including patriotic apparel and commemorative coins, ahead of America's 250th anniversary. The Better Business Bureau warns consumers to be vigilant against scams, citing examples like a T-shirt advertised as American-made but shipped from China.
India's government has issued a notice to Meta-owned WhatsApp, demanding a halt to its proposed username feature until consultations are complete. Concerns over impersonation, phishing, and financial fraud are cited, with WhatsApp asked to provide a detailed explanation within three days.
Chinese police have published a detailed technical report revealing their sophisticated forensic tools and methods for tracking, seizing, and freezing illicit cryptocurrencies like Bitcoin and Ethereum, which are banned in China but favored by criminals for scams and money laundering.
