From Cointelegraph

June 20, 2025 01:56 AM:

Blockchain investigators warn of a crypto “crime supercycle,” fueled by memecoins endorsed by political figures like Donald Trump and lax regulations. Cases dropped by US regulators have led to an increase in abuse. Scammers face zero repercussions, resulting in over $2 billion lost to crypto hacks in Q1 2025.

Regulation shortcomings contribute to the supercycle, as authorities focus on decentralized projects rather than enforcing rules. Phishing scams caused $96 million in losses, while rug pulls accounted for over $300 million. Hacken’s report notes the lack of repercussions has allowed criminal activity to thrive in the crypto space.

Scammers continue to profit without facing consequences, creating little incentive for change. The ease of making instant money through scams has led to a proliferation of hackers and scammers in the crypto industry. Monahan believes the space is in a precarious situation due to the prevalence of criminal behavior.

Despite the rampant scams, some scammers are facing legal action. The US Department of Justice seized over $225 million linked to crypto investment scams, while a New Zealand man was arrested in connection with a global crypto fraud operation that stole $265 million. Legal consequences loom for influencers promoting memecoin scams.

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1. Bitcoin hits new all-time high of $60,000 as institutional demand continues to surge. The cryptocurrency’s market cap surpasses $1 trillion for the first time, solidifying its position as a mainstream asset class.

2. Ethereum also reaches a record high of $2,000, driven by increased interest in decentralized finance (DeFi) applications. The Ethereum network is seeing a significant increase in transaction volume and activity.

3. NFTs (non-fungible tokens) are gaining popularity, with digital artwork selling for millions of dollars. Artists and creators are leveraging blockchain technology to tokenize their work and reach a global audience of collectors.

4. Tesla announces that customers can now purchase vehicles with Bitcoin, making it the first major car manufacturer to accept cryptocurrency as a form of payment. This move is seen as a significant step towards mainstream adoption of digital currencies.: Crypto Crime Supercycle Very Real ZachXBT Says