#crypto

Data from security service provider Immunefi reveals that since the start of 2024, cryptocurrency projects have suffered $473 million in losses (108 incidents) from hacker attacks and rug pulls. Last month, the industry lost $52 million, a decrease of 20% from April 2024 and 12% from May of the previous year.

President Joe Biden's administration is engaging with key figures in the cryptocurrency sector, seeking insights to better understand the community's sentiment, as reported by The Block, citing anonymous sources.

On May 26, a new scandal erupted on the X platform, involving the loss of control over a popular account. A post suddenly appeared on the channel of the renowned trader and analyst @GiganticRebirth (GCR) claiming that the ORDI token would soon “moon” and advising followers to invest immediately.

Match Group, the developer of popular dating services, has joined forces with the crypto exchanges Coinbase, Kraken, Gemini, and Meta (Facebook and Instagram) in a new initiative called Tech Against Scams. Together, they aim to combat the Pig Butchering scam, which involves building fake online relationships to steal assets.

Mastercard has rolled out its new Crypto Credentials system for P2P transactions, initially available to a limited audience on exchanges like Bit2Me, Lirium, and Mercado Bitcoin.

The Turkish Parliament will soon review a bill aimed at regulating the cryptocurrency sector. The discussions are scheduled to take place this week.

Normie, one of the largest meme coins on Base, has suffered a security breach. The project's developers quickly initiated negotiations with the responsible hacker.

A new product named Ether․fi Cash is designed as an alternative to the often complex and costly off-ramp process of converting cryptocurrency to fiat money. The developers hope that this innovation will allow cryptocurrency holders to operate entirely within the blockchain ecosystem.

Attorneys for Ryan Salame, a former top executive of the bankrupt crypto exchange FTX, are seeking a sentence of no more than 18 months in prison. They assert that their client had no involvement in the fraudulent activities orchestrated by former CEO Sam Bankman-Fried.