Hong Kong police arrested a 67-year-old woman for allegedly swindling two property owners out of HK$4.3 million using a virtual currency investment scam disguised as a rental agreement.
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.
Louisiana's Act 482, effective August 1, allows users to demand full refunds for virtual currency kiosk transactions if the operator was unlicensed at the time. Operators must respond within 10 business days and complete refunds within 90 calendar days.
Chinese authorities are warning the public about increasingly sophisticated illegal financial activities, including virtual currency and RWA tokenization scams. These schemes often promise high returns but lead to fraud, pyramid schemes, and money laundering, causing significant financial losses and disrupting the financial order. Investors are urged to be vigilant, avoid participating in such activities, and report suspicious schemes.
Tyler Buchanan, 24, of Dundee, Scotland, has pleaded guilty to conspiracy to commit wire fraud and aggravated identity theft for his role in a phishing scheme that targeted 12 US companies. Between September 2021 and April 2023, Buchanan and co-conspirators sent hundreds of text messages impersonating companies and suppliers to steal employee login credentials, planning to steal at least $8m in virtual currency. He faces up to 22 years in US federal prison and is scheduled for sentencing on 21 August.
Tyler Buchanan, 24, from Dundee, Scotland, has pleaded guilty to conspiring to hack computers of at least 12 companies and stealing at least $8m in virtual currency from victims in the US. The SMS phishing scheme targeted employees of entertainment, telecommunications, technology and virtual currency companies between September 2021 and April 2023. Buchanan, in US custody since April 2025, faces up to 22 years in prison at sentencing on 21 August.
