Apple Sued Over Fake Bitcoin Wallet App That Stole $1.8M

Apple is facing fresh legal scrutiny after three cryptocurrency investors accused the company of allowing a fraudulent Bitcoin wallet onto the App Store. The lawsuit claims the fake application tricked users into revealing sensitive wallet recovery phrases, leading to losses totaling $1.8 million.  The case adds to growing concerns about crypto-related scams targeting trusted digital marketplaces. Moreover, it raises new questions about how technology companies review applications before making them available to millions of users. The complaint argues that users relied on Apples reputation when downloading the application.  Investors Blame App Store Security  The lawsuit, filed in a federal court in California, claims Apple failed to properly screen and monitor applications distributed through its App Store. The disputed app reportedly copied the identity of Sparrow Wallet, although the legitimate Bitcoin wallet does not offer an iOS version.  Consequently, victims entered their 12-word or 24-word recovery phrases, allowing scammers to access and transfer their Bitcoin holdings. James Ramirez, Christopher Ellis, and Jalen Delgado reportedly lost about $875,000, $840,000, and $120,000 between May and August 2025.  Lawsuit Raises Consumer Protection Questions  Besides seeking damages, the plaintiffs argue Apple violated California consumer protection laws by failing to maintain adequate safeguards. Additionally, they contend Apples long-standing emphasis on App Store

07-29انڈسٹری

134 Bank Leaders Sound Alarm Over CLARITY Act — They Want a Key Crypto Rule Changed

Key Takeaways134 bank leaders urged Senate lawmakers to strengthen stablecoin interest and yield restrictions in the CLARITY Act.Bankers warned incentives tied to stablecoin holdings could weaken the deposit base supporting local lending.The dispute centers on whether payment stablecoins should function only as transaction tools.  Bank Leaders Push Senate to Rewrite Stablecoin Provision  The bank leaders CLARITY Act letter urged U.S. Senator John Thune (R-SD), Majority Leader of the U.S. Senate, and U.S. Senator Charles Schumer (D-NY), Minority Leader of the U.S. Senate, to revise Section 10404 of the CLARITY Act.  Section 10404 of the crypto legislation establishes restrictions on paying interest or yield on payment stablecoins. The banking executives want lawmakers to strengthen the provision so companies cannot bypass the prohibition through rewards, incentives, or other arrangements that create similar economic benefits for holding stablecoins.  The bank leaders stated:  “We therefore urge the Senate to incorporate the targeted Section 10404 changes recommended by our state bankers associations before final passage.”  “If stablecoin products are permitted to attract and retain balances through interest-like rewards or other holding-based incentives, the local funding base that supports this lending could be weakened by hundreds of billions,” the group warned.  The letter argues that deposits provide the foundation for lending to families,

07-29انڈسٹری

Flare makes XRPFi accessible in a single signature with smart accounts v1.3

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.  Flare launches Flare Smart Accounts v1.3, enabling XRP holders to access DeFi vaults with a single XRPL wallet signature.  Flare today announced the release of Flare Smart Accounts (FSA) v1.3, making it possible for XRP holders to mint FXRP and deposit it into yield-generating vaults with a single XRPL signature.  For XRP holders, accessing DeFi has often meant creating new wallets, bridging assets between chains, and managing gas tokens before earning a single dollar in yield. Flare Smart Accounts v1.3 removes much of that complexity. Users can now choose a vault, sign once using the XRPL wallet they already use, and Flare completes the rest automatically. No separate EVM wallet, gas token, or manual bridging is required.  The update builds on growing momentum for XRPFi. Since February 2026, the amount of FXRP deployed in DeFi has grown by nearly 75%, increasing from 82 million to 144 million FXRP. More than 40 million XRP is currently earning yield through Flare Smart Accounts, while nearly 24,000 Smart Accounts have already been created.  “Millions of XRP holders have wanted access to DeFi, but the experience has been

07-29انڈسٹری

Thailand SEC Accuses Bitkub Executives of Hiding $50M Hack Losses From Regulators

Key TakeawaysThailand SEC accused Bitkub over 2021 reports tied to a $50M hack and filed a criminal complaint.Bitkub said co-founders replaced $50M in stolen assets, keeping customer funds fully intact in 2021.ECD will investigate before prosecutors decide whether to indict Bitkub and 2 former directors.  SEC Allegations and Reporting Breaches  Thailands Securities and Exchange Commission has filed a criminal complaint against Bitkub Online Co. Ltd. and two former directors for allegedly submitting false financial reports following a 2021 cyberattack that resulted in the theft of over $50 million (1.7 billion baht) in digital assets.  The complaint, lodged with Thailands Economic Crime Suppression Division (ECD), names the cryptocurrency exchange alongside former company directors Sakolkorn Sakavee and Thaweesap Rawan.  According to the SEC, Bitkub suffered a cyberattack in May 2021 that breached 16 types of digital assets. Regulator investigations revealed that from May 10 to Oct. 30, 2021, the exchange failed to reflect the loss in its daily net capital reports, known as Form DA 1. The SEC alleges the executives intentionally made false entries in official company documents to mislead regulators into believing customer assets were intact and that the firm had suffered no financial damage.  The regulator noted that while Bitkub eventually procured replacement assets

07-28انڈسٹری

Markets eye Bank of Japan meeting on Friday as yen repeats 40-year US dollar lows

Japans central bank is in focus this week as its next interest-rate meeting comes amid new 40-year yen lows against the US dollar.  Key points: The Japanese yen is approaching new 40-year lows against the US dollar, nearly beating its latest record from last week.The Bank of Japan will decide on interest-rate changes on July 31, with rates already at 1%, their highest since September 1995.Analysts have been warning that the yen carry trade could unwind again, repeating a major crypto headwind from 2024.  Dollar-yen seeks to reclaim 40-year record  Data from TradingView showed USD/JPY approaching 164 on Tuesday, just a fraction below new 40-year highs seen last week.USD/JPY 12-month chart. Source: Cointelegraph/TradingView  The yen‘s status as a funding currency is making BoJ monetary policy have an outsized influence on global markets. Japan’s currency markets are characterized by minimal capital controls and unmatched liquidity among non-dollar currencies.  Japans persistent current account and trade surpluses in earlier decades along with systemically low interest rates have made JPY the most important global funding currency. However, since Japanese inflation picked up in 2022, this has created the risk of carry trade unwinds accompanied by a liquidity crunch.  On Thursday and Friday, the Bank of Japan (BoJ) will decide on

07-28انڈسٹری

The Euro finally gets cheaper energy, and that is the problem

The Euro trades just under 1.1400 on Tuesday, around 0.15% firmer, after a session that ran from a shade above 1.1350 to a fraction over 1.1400. Behind that half-cent range sits a third consecutive session of falling Crude Oil, with Brent near $84.00 and West Texas Intermediate near $79.00 as the American and Iranian stand-down runs into a fourth day.  For the developed world‘s largest net energy importer, roughly 16% off last Thursday’s peak is the cleanest fundamental improvement on offer, and it has bought this currency a sixth of a cent. That failure is not a market oversight. It is the correct reading of what falling energy actually does to the rate differential.  Cheaper energy is a rate cut in disguise  The European Central Bank held its deposit rate at 2.25% last week and framed the hold hawkishly enough to move markets toward a quarter-point hike in September. Every part of that stance is energy-derived. Euro-area inflation ran at 2.8% YoY in June against 3.2% in May, and staff projections put the 2026 average near 3.0% almost entirely on the energy line.  Strip out the war premium and the projection falls with it, which takes the September hike along for the ride. A

07-28انڈسٹری

Why Is Lido Moving $16B in Staked ETH to Pectra-Era Validators?

Operators have to lock up their own ETH as collateral now.  Liquid staking app Lido has started moving the bulk of its staked ETH onto Ethereums larger post-Pectra validators, and the operators running them are now putting up their own capital for the first time.  The main idea is that Lidos curated node operators stop running thousands of identical 32 ETH validators and collapse them into far fewer, much larger ones.  $16B in ETH Moved  Moreover, Ethereums Pectra hardfork, activated in May 2025, raised the maximum effective balance per validator to 2,048 tokens through what are known as 0x02 credentials. Curated Module v2 is the piece of Lido Core that now supports them natively (Phase 1 went live on Monday).  The scope is the Curated Module itself, the permissioned operator layer that has handled well over 90% of Lidos staked ETH since the protocol launched in 2020. That covers more than 265,000 existing validators and more than 8 million ETH, worth about $16 billion.  Its worth knowing Lido is doing this in a tighter market. As CryptoPotato reported, its revenue fell roughly 25% last year, and its share of all staked ETH slid from more than 28% in 2024 to just over 24% in December 2025.  No

07-28انڈسٹری

FET drops 12% – Can $47.3M in investor demand overcome whale selling?

Artificial Superintelligence Alliance [FET] was not excluded from the broader crypto markets decline over the past day.  At the time of writing, FETs decline amounted to roughly 12%, and the intensity of the bears clearly continued to pressure the market in ways that show a likely tendency toward more downtrend.  However, there is still spot involvement, which could impact the outlook and skew it away from the bears.  FETs perpetual market bleeds capital  A clear capital outflow in FETs perpetual market has sparked the decline witnessed recently.  The outflow saw a roughly 5% decline that brought Open Interest (OI) down to roughly $71 million, putting the market at major risk.  Source: CoinGlass  Strong market momentum is clearly driving the selloff, with volume spiking 97% from the previous day to $162 million.  The rise in volume at a time when price and open interest are simultaneously declining for an asset often suggests there will be more capital outflow ahead, as the bears continue to dominate the market.  Spot buyers keep accumulating FET   Spot traders in the market are not letting go easily, as the group of investors has continued to accumulate the token over the past day. At press time, spot market activity shows there was more buying than selling

07-28انڈسٹری

Dragonflys Haseeb Qureshi Warns Crypto VC May End by 2030 as Active Investors Drop by 87% From 2022 Peak

Key TakeawaysHaseeb Qureshi warned that crypto VC may face a last vintage as platforms dominate.Cryptorank counted 150 active investors in July, down from 1,177 in May 2022, signaling consolidation.Dragonfly says 2030 may leave few startups, favoring founders who control distribution and economics.  Cryptorank Counts Just 150 Active Venture Firms, Fewest Since November 2020  Crypto venture capital may be approaching a structural turning point, even if bitcoin, ethereum and stablecoins continue to expand.  Haseeb Qureshi, managing partner at Dragonfly, said the sector could eventually reach a “last vintage” as established networks become harder for startups to challenge.  “At some point, crypto VC might just be over,” Qureshi said in a July 21 interview. “There might just be a last vintage.”  His warning is not a prediction that crypto will disappear. Instead, it reflects a market where scale, liquidity and network effects increasingly favor a small group of mature platforms.  Social Media Offers a Warning  Qureshi compared crypto with social media, which grew rapidly during the 2010s even though most of its leading platforms had been built years earlier. Facebook, WhatsApp, Instagram and LinkedIn kept expanding, while Bytedances TikTok became the rare major challenger.  Crypto could follow a similar path.  “Maybe by the year 2030, pretty much every important company is

07-28انڈسٹری

Kalshi Wins as Judge Blocks Minnesota Prediction Markets Ban

Key InsightsKalshi secured temporary relief against Minnesotas prediction market ban.The court found federal law likely preempted parts of the statute.Polymarket retained Minnesota access while the broader lawsuit continued.  Kalshi secured temporary relief on July 27 after a federal judge blocked Minnesota‘s prediction market ban. U.S. District Judge Katherine Menendez found federal commodities law likely preempted parts of the state statute. The ruling kept Kalshi and Polymarket operating before the law’s Aug. 1 effective date.  The order preserved existing market access while the court considered the broader jurisdictional dispute. It also tested how far states can regulate event contracts listed on federally supervised exchanges. That question carried direct consequences for prediction market operators, trading firms, and crypto-linked platforms.  Kalshi Wins Temporary Relief From Minnesota Ban  Menendez granted preliminary injunctions sought by the Commodity Futures Trading Commission, Kalshi, and Polymarket. Reuters reported that she viewed several challenged contracts as swaps under federal law. That classification placed those contracts within the federal regulators exclusive jurisdiction.  Source: X  The Commodity Futures Trading Commission filed its lawsuit on May 19. The agency said Minnesotas statute conflicted with the Commodity Exchange Act. Its complaint sought an injunction before the ban started on Aug. 1.  Minnesota‘s legislation prohibited creating, operating, managing, or supporting a

07-28انڈسٹری
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