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CFTC Wins Summary Judgment in $228M Crypto Ponzi Case

by admin August 20, 2025



In brief

  • A federal judge ordered Eddy Alexandre and EminiFX to pay $228.5 million in restitution to victims of a crypto Ponzi scheme that promised fake weekly returns of 5% to 9.99% using nonexistent “AI trading technology.”
  • Alexandre exploited his position of trust within Long Island’s Haitian community and his own church congregation to recruit over 25,000 investors between September 2021 and May 2022.
  • The CFTC’s civil victory follows Alexandre’s July 2023 criminal sentencing to nine years in prison, with court-appointed receivers already distributing recovered funds to defrauded investors since January 2025.

A federal judge has ordered Eddy Alexandre and his company EminiFX to pay $228.5 million in restitution to investors who lost money in what authorities called a ‘brazen’ crypto Ponzi scheme that bilked over 25,000 people out of more than $248 million.

U.S. District Judge Valerie Caproni granted summary judgment Tuesday in favor of the Commodity Futures Trading Commission in its civil enforcement action against Alexandre. 

The ruling comes after Alexandre was already sentenced to nine years in federal prison last July for his role in operating the fraudulent EminiFX trading platform.

Alexandre, who represented himself, opposed the CFTC’s motion but failed to present evidence disputing the fraud claims.



The CFTC set restitution based on investor contributions minus withdrawals, with Judge Caproni adding $15 million in disgorgement, offset by restitution payments.

“Fraud persists, now often cloaked in high-tech buzzwords like AI and crypto,” Even Alex Chandra, partner at IGNOS Law Alliance, told Decrypt, adding how “rigorous verification is essential” for ventures promising outsized returns.

“Groups with limited financial literacy are prime targets,” he added, making investor education crucial for community protection. “No matter how trendy the technology, labels like AI or crypto do not prevent fraudulent activity.”

U.S. Attorney Damian Williams previously called Alexandre’s conduct “brazen,” noting he exploited trust in his church and Haitian community to draw in investors.

A history of fraud

Federal prosecutors first brought charges three years back, when Alexandre was arrested for commodities and wire fraud after soliciting $59 million from early investors.

Alexandre operated EminiFX from September 2021 through May 2022, promising investors “guaranteed” weekly returns of 5% to 9.99% through automated crypto and forex trading using what he called a “trade secret” technology dubbed “Robo-Advisor Assisted Account (RA3).”

EminiFX lost money during 24 of its 30 weeks of operation, and even in its best week, when Alexandre reported returns of 9.98%, the actual return was just 2.28%.

“The weekly figures [he] provided were not based on investment returns,” Alexandre admitted in a criminal sentencing letter.

Prosecutors said Alexandre diverted at least $15 million to personal accounts, spending on luxury cars, including a BMW and a Mercedes-Benz.

“Alexandre’s guilty plea in the Criminal Action prevents him from denying liability,” the court determined, applying the doctrine of collateral estoppel, which prevents defendants from re-litigating issues already decided in prior proceedings.

An equity receiver appointed by the court has been overseeing asset recovery efforts, with distributions to defrauded investors already underway since January 2025. 

The case remains open as recovery efforts continue.

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August 20, 2025 0 comments
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Corsair introduces cheaper PC case fans with 'reverse rotors' which help those LEDs shine without obstruction
Product Reviews

Corsair introduces cheaper PC case fans with ‘reverse rotors’ which help those LEDs shine without obstruction

by admin June 26, 2025



RS-R ARGB Fans – Elevate Your PC’s Cooling and Style – YouTube

Watch On

RGB lighting and PC gaming are kind of synonymous, and I for one think it’s pretty cool. Sure, it can often be a lot but I love a hot rig with some sick coloured lights pulsing away inside. Some of the first decorative lights I ever got for my machine were by the way of cooling fans, and I distinctly remember feeling a weird swelling of PC gamer pride the first time I installed them.

Case lighting has come a long way since those dark ages, and that includes fans, with Corsair bringing out its new RS-R Series fans that are built differently with lighting needs in mind.

The new RS-R Series fans are touted as being a great solution for both aesthetic lighting and functional cooling. They feature eight addressable RGB LEDs in each fan, and boast controllable PWM cooling that can up to 65.8 CFM. Both of which can be controlled straight from the software on your motherboard, which they attach to using a single 4-pin PWM connector and one +5V ARGB header.


Related articles

You can also daisy chain a bunch of these to run in series, so it should be a relatively easy cabling operation to kit out a case full of these fans. This setup also means you should be able to get the full force of these windmakers without requiring any additional installations or controllers.

Corsair’s iCue Link fans are our top picks when it comes to airflow that looks good while keeping your PC cool, but these may be a step up. Not having to delve into the iCue software to get these 120mm round bois just how you like them will be a godsend.

The headline feature for these new fans, however, is their reverse rotor. This means they can be oriented within your chassis as an intake without having the fan casing obsructing the lighting and making your funky fishbowl build look too industrial. The standard design for case fans means that is you’re using one as an exhaust then from the inside of the case you will just see the fan itself, in all its RGB glory. Turn it around to bring air in, however, and the plastic struts which give the fan housing its rigidity get it in the way of the pretties.

These reverse rotor fans, then, are designed for your intakes when you’re organising the airflow of your chassis. These aren’t the first fans from Corsair to sport the reverse rotor advantage, but they are much cheaper than what was on offer before. They’re also not the only fans to offer the feature; we used Phanteks’ reverse fans when we built The Rig for the PC Gaming Show this year.

Keep up to date with the most important stories and the best deals, as picked by the PC Gamer team.

That fine control, and even the ability to run at Zero RPM for ultra quiet standby computing do make for an appealing argument. They also feature magnetic dome bearings for minimal friction, and should have a fair amount of longevity for it. Corsair seems to think so to, offering a five-year warranty on the RS-Rs, which is always great for peace of mind.

The new RS-Rs case fans come in packs of three, in both black and white frame colours to help match your case aesthetics. Naturally you can pick the LED colours when you get them installed to help do the rest. They’re available now, and look to be going for around $60 USD a pack.

Best PC fans 2025

All our current recommendations



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June 26, 2025 0 comments
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NFT Gaming

Anthropic Scores Partial Victory in Copyright Case Over AI Training Data

by admin June 25, 2025



In brief

  • A U.S. District Judge has ruled that Anthropic’s AI training on copyrighted books is “exceedingly transformative” and qualifies as fair use.
  • However, storing millions of pirated books in a permanent library violated copyright law, the court said.
  • OpenAI and Meta face similar author-led lawsuits over the use of copyrighted works to train AI models.

AI firm Anthropic has won a key legal victory in a copyright battle over how artificial intelligence companies use copyrighted material to train their models, but the fight is far from over.

U.S. District Judge William Alsup found that Anthropic’s use of copyrighted books to train its AI chatbot Claude qualifies as “fair use” under U.S. copyright law, in a ruling late Monday.

“Like any reader aspiring to be a writer, Anthropic’s LLMs trained upon works not to race ahead and replicate or supplant them — but to turn a hard corner and create something different,” U.S. District Judge William Alsup said in his ruling.

But the judge also faulted the Amazon and Google-backed firm for building and maintaining a massive “central library” of pirated books, calling that part of its operations a clear copyright violation.

“No carveout” from Copyright Act

The case, brought last August by authors Andrea Bartz, Charles Graeber, and Kirk Wallace Johnson, accused Anthropic of building Claude using millions of pirated books downloaded from notorious sites like Library Genesis and Pirate Library Mirror.

The lawsuit, which seeks damages and a permanent injunction, alleges Anthropic “built a multibillion-dollar business by stealing hundreds of thousands of copyrighted books,” to train Claude, its family of AI models.

Alsup said that AI training can be “exceedingly transformative,” noting how Claude’s outputs do not reproduce or regurgitate authors’ works but generate new text “orthogonal” to the originals.

Court records reveal that Anthropic downloaded at least seven million pirated books, including copies of each author’s works, to assemble its library.

Internal emails revealed that Anthropic co-founders sought to avoid the “legal/practice/business slog” of licensing books, while employees described the goal as creating a digital collection of “all the books in the world” to be kept “forever.”

“There is no carveout, however, from the Copyright Act for AI companies,” Alsup said, noting that maintaining a permanent library of stolen works — even if only some were used for training — “destroy the academic publishing market” if allowed.

Judge William Alsup’s ruling is the first substantive decision by a U.S. federal court that directly analyzes and applies the doctrine of fair use specifically to the use of copyrighted material for training generative AI models.

The court distinguished between copies used directly for AI training, which were deemed fair use, and the retained pirated copies, which will now be subject to further legal proceedings, including potential damages.

AI copyright cases

While several lawsuits have been filed—including high-profile cases against OpenAI, Meta, and others—those cases are still in early stages, with motions to dismiss pending or discovery ongoing.

OpenAI and Meta both face lawsuits from groups of authors alleging their copyrighted works were exploited without consent to train large language models such as ChatGPT and LLaMA.

The New York Times sued OpenAI and Microsoft in 2023, accusing them of using millions of Times articles without permission to develop AI tools.

Reddit also recently sued Anthropic, alleging it scraped Reddit’s platform over 100,000 times to train Claude, despite claiming to have stopped.

Generally Intelligent Newsletter

A weekly AI journey narrated by Gen, a generative AI model.



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June 25, 2025 0 comments
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Popular third-party Switch 2 case suffers manufacturing defect in small number of orders, producer promises it's "working on it"
Game Updates

Popular third-party Switch 2 case suffers manufacturing defect in small number of orders, producer promises it’s “working on it”

by admin June 24, 2025


Popular gaming peripheral manufacturer Dbrand has acknowledged a defect affecting a small number of its Project Killswitch Nintendo Switch 2 cases.

This defect impacts the lip attaching the joycons to the Switch 2 screen, disconnecting when the console is held up by a singular joycon. Speaking to influencer Nintendo Prime, the company has stated it’s in the process of fixing the issue.

“Yep, we’re definitely working on it. Ultimately, this is a manufacturing tolerance issue on the small lip keeping the Joy-Con Grips attached to the Joy-Cons (some were a hair too thick),” Dbrand told Nintendo Prime. “We’ve got a replacement program set up already, where anyone who is affected is able to email robots@dbrand.com with ‘July Joy-Cons’ in the subject to be added to the list for replacement stock in July.”

Check out our video review of the Nintendo Switch 2!Watch on YouTube

According to Nintendo Prime, Dbrand also acknowledged this problem was replicable among a “small number of units from their run”. Nintendo Prime didn’t share the exact number he was told, but reemphasised any defective Killswitch cases could be replaced for free in July.

There are plenty of great third-party accessories for the Nintendo Switch 2 – Dbrand’s Killswitch included! These enhance the play experience on what is already a pretty rad console. The only real negative being the battery life, which can drain fairly quickly.

The Switch 2 has proven so tempting, one bloke pilfered over $10,000 worth of Switch games from libraries, one can only assume because he was so excited to play them all on more powerful hardware. It’s not like third-party publishers couldn’t do with the help, as their games struggle to ship in spite of record breaking console sales.



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June 24, 2025 0 comments
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This Case Forced Me to Completely Rethink How I Handle the Switch 2
Product Reviews

This Case Forced Me to Completely Rethink How I Handle the Switch 2

by admin June 21, 2025


The Nintendo Switch 2 is currently the featherweight champion of gaming handhelds—though largely because nobody can enter its weight class. No other device of its size—whether it’s a handheld PC or another retro device—can slip so easily into a backpack without weighing you down, like you’re lugging a sack of bricks around through every train station and airport terminal.

That slim design comes with its own heap of drawbacks. The Switch 2 is a thin device with narrow edges that tends to dig into your palms. I’ve tried a smorgasbord of various cases with the Switch 2, but only Dbrand’s Killswitch case has reinvented the console’s ergonomics and kept it usable. The case tacks on extra bulk to Nintendo’s design, making it extra comfortable and extra heavy. Until better alternatives come along, the Killswitch is how I plan to game with my Switch 2 going forward, even if my arms and back will complain later.

Dbrand Killswitch Case for Switch 2

The Killswitch case is the best we’ve used to change the Switch 2 ergonomics, but at the expense of easy docking to a TV.

Pros

  • Makes the Switch 2 more comfortable to hold
  • Travel cover feels secure
  • Magnetic game card holder is a great touch

Cons

  • Dock attachment makes playing on TV harder
  • Switch 2 becomes heavier with the slip-on Joy-Con covers

Dbrand’s Killswitch was one of the more popular covers for devices like Steam Deck. Valve’s handheld is a more ergonomic device than Nintendo’s, and the Killswitch merely extends the grips for larger hands while protecting the device’s back and side plates. The version made for Switch 2 upends the look, weight, and feel of Nintendo’s new handheld. Once you wrap the case around the Switch 2’s screen and each individual Joy-Con 2, the handheld suddenly feels like something you’ll actually want to hold. The case lets your ring fingers sit on a shelf while your pointer digits handle the trigger and bumper buttons. The texture for each rubberized Joy-Con 2 cover keeps your hands from slipping off. With the Joy-Con 2 controllers detached, I didn’t need to wrap my finger lengthwise around the SR button or mouse sensor like I typically do without the case.

The only downside is that the Joy-Con 2 covers don’t sit completely flush with the controllers. Since the controllers are more side-heavy, you’ll want the covers to make easy use of mouse controls. The Joy-Con 2’s slim design doesn’t allow for a comfortable, ergonomic feel in mouse mode. With the grips on the Killswitch, my fingers found a much more amenable position whether I was swiping on my couch’s armrest or the end table in front of me.

The extra Traveler add-on Dbrand Killswitch case for Switch 2 includes a case that attaches via a bungee cord. © Adriano Contreras / Gizmodo

By itself, the $60 Killswitch case makes the Switch 2 much bulkier than it is normally. It’s so big, it won’t fit into the official dock. The kit comes with an extra dock adapter you slip over the dock’s USB-C port. To hook the Switch 2 up to a TV, you need to hover the handheld’s exposed USB port over the male USB-C end and eyeball your unit until you can line it up correctly. It’s an awkward way to fix a problem created by the case itself. You can keep the main plate off the Switch 2 if you intend to dock as you would normally. If you do, make sure you don’t adhere the kickstand protector to the handheld. Even that small piece of plastic makes the Switch 2 too thick to fit into the dock.

That also means if you plan to be traveling with the dock to a friend’s house, you need to take the dock adapter, too. If you are going to be running around with the Switch 2, you’ll also want to opt for the $80 Travel version of the case that comes with a large plastic cover and magnetically attached game card holder. The cover uses a bungee cord to wrap around the Killswitch case to hold everything in place, though you’ll need to unlatch it to access the Switch 2’s bottom USB-C port. The game card bandolier held onto my cards no matter how much it tumbled around in my backpack, though the magnets may be almost too strong, as it takes finger-straining force to remove it from the cover.

The Dbrand Killswitch case includes an adhesive cover to the kickstand. © Adriano Contreras / Gizmodo You can remove the game card holder from the cover, though it takes a little more effort than you may think. © Adriano Contreras / Gizmodo

All together, the Killswitch case makes the Switch 2 feel more comfortable to hold for longer. It also makes the device feel heavier, more than if you had merely stuck your device into a slim, felt-lined case. I haven’t had the opportunity to check out Nintendo’s official $40 Carry Case & Screen Protector or the company’s $85 All-In-One case. As of writing this page, in order to get one, you have to register your interest with Nintendo, then hope you get called up to be the first to go hands-on. Thankfully, you have so many options if you would prefer something lighter. I’ve received $20 cases from both Snakebyte and Power-A for testing. If you can find them in stock, either one will serve you well with sturdy covers. Each has enough space for 10 game cards apiece.

If it weren’t for the need for a dock adapter, the Killswitch would be an easy case to recommend. The dock has caused havoc with other accessory makers’ case designs. Genki also sent me its $50 Attack Vector case and grips, which could have made Nintendo’s new console more ergonomic without needing a case. In that time, both I and other early users quickly identified an issue where the Attack Vector fits too snug inside the dock. This could potentially damage the screen if you force it down too hard into the slot. In an email, Genki related this to “production-related issues” and said it was working on a new version to address those problems. We’ll have to revisit Genki’s alternative another time.

The Dbrand Killswitch case alongside other slim cases from Snakebyte and Power-A. © Adriano Contreras / Gizmodo

If you’re truly keen to protect your device, you’ll also need a screen cover. Nintendo’s Switch 2 comes stock with a thin plastic film over the glass screen. While this is designed to prevent your Switch 2’s display from shattering into a thousand tiny pieces, it also leaves the device more scratch-prone than other, similar devices. It was the same problem with the display on the Switch OLED, which also used this plastic film. You’re better off finding a screen protector for your Switch 2, and I’ve already tried several so you can get an idea which one is best.

Genki sent along its $20 Aegis Shield protector, while Dbrand provided us with its $35 Prism 2.0 ($20 if you buy it alongside the Killswitch). Both offer very similar plastic plates to help you line up the screen protector with the Switch 2 display. You only need to clean the screen with a microfiber cloth and alcohol wipes, plant the plastic piece over the console, and then pull the slip of plastic film back to reveal the actual screen protector. Both work well enough, but depending on how straight you pull back on the internal protector, you may still be left with air bubbles you need to manually squeegee out.

High-end accessories inevitably make the $450 Switch 2 cost more. Just remember, cheaper cases aren’t necessarily worse. If you want a lightweight console, you’ll want a case that’s more mundane.



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June 21, 2025 0 comments
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Dbrand’s Killswitch Switch 2 review: the best case scenario
Product Reviews

Dbrand’s Killswitch Switch 2 review: the best case scenario

by admin June 14, 2025


I’ve been checking out a lot of new Switch 2 accessories recently, almost all of which were produced before the companies that made them ever touched a real Switch 2. Even a millimeter’s difference in dimensions could completely throw off a design, and some products I’ve tried lack a perfect fit. For example, Genki’s Attack Vector has problems, which the company is now reworking. It’s probably not the only one. However, Dbrand’s Killswitch kit offers the best fit and best protection right out of the gate.

I adored the kit when I tested it on my Steam Deck, and this one doesn’t mess with the winning formula. Dbrand had to engineer its own USB-C dock adapter since a Killswitch-equipped console doesn’t fit in Nintendo’s dock. Its adapter is included, with no cutbacks to visual fidelity in docked mode. It’s a little clunky, but I’m mainly just happy that it works, so I don’t have to take the Killswitch off every time I want to dock the Switch 2.

The most basic “Essentials” kit is $59.95 and includes a grippy, form-fitting shell that latches around the Switch 2’s back, slightly latching around the front. It can be secured to your console with some small adhesive strips. A separate, adhesive-backed strip of protection for the kickstand comes with the kit, too. Dbrand includes two Joy-Con 2 shells that have thick, textured grips that make them significantly more comfortable to use without adding too much weight. Unlike Joy-Con shells from other accessory makers, these were as easy to install as I hoped they would be, sliding securely into place thanks to the Killswitch’s tough, but just-malleable-enough materials.

The $79.85 “Travel” option adds a tough latch-on cover that protects the front of your Switch 2, and a tray that fits within it for storing up to 10 game cartridges. Of the cases I’ve tried so far, I have the fewest reservations about putting my Switch 2 in this one. With the front cover on, it provides hard case protection. When detached, it offers solid protection with an understated look for the parts of the Switch 2 that are most vulnerable to damage.

The most expensive $99.80 “Ultra” kit includes everything mentioned above, plus additional stick grips and two glass screen protectors. The added cost isn’t outrageous if you still need a screen protector.

The Killswitch is great. I often forget that it’s installed. I thought I’d miss the console’s slim design, arguably one of its biggest selling points compared to chunkier handhelds like the Steam Deck. But, after mainly using a Deck instead of the aging Switch, I’m spoiled by big grips, and the Killswitch turns the Switch 2 into something that I want to use in handheld mode.



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June 14, 2025 0 comments
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Thai Police Arrest Chinese Suspect in $6.1 Million Bitcoin Fraud Case

by admin June 13, 2025



In brief

  • Thai police arrested Chinese national Tianwei at Don Mueang Airport on June 12 for allegedly stealing $6.15 million in Bitcoin.
  • The arrest followed an April complaint and a May 16 warrant after Tianwei vanished from a business deal in Chiang Rai.
  • It’s the latest in a series of Asian crypto fraud busts, including major cases in Vietnam and India.

Thai immigration police arrested a Chinese fugitive at Don Mueang Airport Thursday morning as he attempted to flee to Singapore, ending a manhunt connected to millions in stolen Bitcoin.

The man, Tianwei, was arrested at 6 a.m. local time (7 p.m. ET) on Thursday at the international departure terminal as he attempted to board Lion Air flight SL100, according to a report by local news outlet Khaosod English.

The airport intercept ended a month-long manhunt that began when two Chinese victims reported losing $6.15 million (200 million baht) in Bitcoin to the suspect after a business meeting in Mae Sai district.

Chiang Rai Provincial Court issued the arrest warrant on May 16. Intelligence reports indicated Tianwei would attempt to flee the country, prompting authorities to alert Don Mueang immigration officers.

The suspect reportedly communicated in English during his arrest. Sergeant Suwaphan Utsaha, commander of the Don Mueang Immigration checkpoint, served as an interpreter to inform him of his rights and the charges against him. 

Tianwei confirmed his identity and told officers he had never been arrested in this case before.



Thailand’s notoriously tough stance on foreign fraud suspects means Tianwei faces a grim future, according to Archer Wolfe, founder of the crypto consultancy firm MohrWolfe and a former resident of Thailand.

“It’s no surprise that Thai immigration continues cracking down on fraud amongst foreigners—they’re famous for their hardcore measures,” Wolfe told Decrypt. “However, once they’re suspicious of you, and you get caught, they will dissect your entire life, starting with your smartphone and every conversation you have in it.”

Wolfe predicted harsh consequences, saying that the suspect “is going to be extradited back to China” and “the Thai government is then going to keep that Bitcoin unless an exorbitant fee is paid and simply close the book.”

Crypto crackdown in Asia

The arrest comes amid a regional crackdown on crypto fraud that has netted hundreds of millions in seized assets across Asia.

India’s Central Bureau of Investigation arrested Delhi resident Rahul Arora on Tuesday and seized over $327,000 in crypto from a cybercrime operation targeting U.S. and Canadian victims through caller ID spoofing and social engineering.

Last month, Vietnamese authorities dismantled the Matrix Chain pyramid scheme after a 200-day investigation, arresting five suspects accused of defrauding 185,000 victims out of nearly $400 million.

In February, Thai and Chinese police teamed up to arrest two Chinese nationals and seize $2.5 million worth of Tether’s USDT stablecoin from a large-scale scam operation.

Edited by Sebastian Sinclair

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June 13, 2025 0 comments
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Crypto Kidnapping Case Widens As French Police Make New Arrests

by admin June 13, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Based on reports, French police have stepped up their efforts after a crypto entrepreneur’s father was brutally kidnapped and had a finger severed to force a ransom. It’s a crime that has rattled the industry and raises tough questions about personal safety.

Growing Number Of Crypto Kidnappings

According to a GitHub list by Jameson Lopp, there have been almost 30 in-person crypto attacks so far in 2025. That pace puts this year on track to top the 35 attacks recorded in 2024 and the 24 attacks in 2023. Many cases fly under the radar, since victims often fear coming forward.

Based on reports from France 24, the victim was held for several days in a secluded property. The kidnappers demanded up to 7 million euros ($8 million) in ransom.

They even cut off one of his fingers to show they meant business. A police raid on May 3 freed him and led to five arrests at the scene.

The number of crypto-related attacks have been up in 2025. Image: Quinnipiac University

Cross Border Arrests

According to state media, investigators also nabbed a suspect in Morocco on June 4 suspected of orchestrating several of these crypto-related kidnappings.

Back home in France, more than 12 people linked to high-profile cases were held on May 26. Under French law, suspects can be held for up to 96 hours without charges.

Total crypto market cap currently at $3.32 trillion. Chart: TradingView

Calls For Tighter Security

The wave of attacks has prompted crypto firms to boost their own protection measures. Interior Minister Bruno Retailleau called a meeting to tackle the rise in violence.

Chainalysis CEO Jonathan Levin told attendees at the 2025 Consensus conference on May 15 that criminals still believe digital money is untraceable. And on June 5, Kraken’s security chief Nick Percoco warned in a blog post that many crypto users lack basic situational awareness at events.

A Wider Pattern Of Underreporting

Experts warn these “wrench attacks” might be even more common than numbers show. A University of Cambridge study in September found that victims worry about being targeted again, or about public shame.

The study also noted that attackers range from organized crime syndicates to people known to their victims, like friends or family.

Industry leaders now face a stark choice: leave personal safety up to chance, or treat security as a top priority. For many in crypto, that means using hardware wallets, keeping travel plans private, and working with vetted security teams.

The brutal nature of these crimes shows that simply relying on code won’t be enough to keep people safe.

Featured image from Public Discourse, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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June 13, 2025 0 comments
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Xrp Price To $15 As Ripple Vs. Sec Case Nears June 16 Conclusion
Crypto Trends

XRP Price to $15 as Ripple vs. SEC Case Nears June 16 Conclusion

by admin June 12, 2025



Ripple’s XRP price is back under the radar of the crypto community despite its consolidated price action. This comes after the recent developments of XRP tokens in various aspects.

Notably, the Ripple vs. SEC lawsuit is expected to conclude on June 16 as the parties are now gearing up to file a new motion for injunctive ruling under Rule 60, lawyers say. It could hype up the XRP price toward a new high during the upcoming time.

Let us now understand how this could impact the XRP price in a positive way in the longer time frames.

Historically, XRP price had displayed over 860% rally during the bull run of 2021. However, the altcoin recorded a major pullback, resulting in it losing most of its value. After recording a stable action for a period of approximately 1337 days. As the market witnessed a major reversal, it displayed another rally of over 575%.

This raises a speculation about a similar price action for the XRP price in the upcoming time. Further, this has led in the investors and whales realistically considering the price target of $15.

The Simple Moving Average (SMA) acts as a major support to the XRP price chart in the daily time frame. This type of trend highlights a strong bullish sentiment in the market, suggesting a sustained positive action in the upcoming months.

The Relative Strength Index (RSI) displays a strong support around the neutral point and is currently valued at 52.53. A successful retest could result in it rising toward its oversold range. This hints at an increasing positive influence in the longer time frame.

How High Can XRP Realistically Go?

While the immediate retest zone still stays strong around the $3 mark, the upper price target for this altcoin is $3.50. However, considering the historic market sentiments, the value could potentially record a 500% rally as it has recorded such giant rallies twice since its inception. This could lead the value of XRP price toward the $15 mark over a course of 4 to 7 years.

On the contrary, this altcoin displays a strong support around the $2 mark, making it the extreme low level for future price action.

Also Read: US Declares Ripple’s XRP will Replace the Dollar: Fact Check



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June 12, 2025 0 comments
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Elite Footballers Named in $3.4 Million Crypto Fraud Case

by admin June 11, 2025



In brief

  • Six professional footballers, including World Cup winners, are under investigation for allegedly promoting a crypto project that defrauded investors of at least $3.4 million.
  • Spanish prosecutors allege the Shirtum platform used player endorsements to sell NFTs tied to image rights, but never delivered a working product.
  • Victims say funds were siphoned for personal use while the platform was quietly abandoned, prompting a criminal probe in Barcelona.

Six elite footballers, including World Cup winners and former Barcelona and Sevilla stars, are facing fraud allegations after a crypto company they promoted vanished with millions in investor funds, leaving thousands holding worthless digital tokens.

Barcelona’s Fifth District Court has launched a criminal investigation into a crypto and NFT scheme allegedly fronted by a group of Spanish and Argentine businessmen, with promotional help from the players, according to an El Periodico report.

Filed by 12 victims earlier this year, the case accuses Shirtum Europa SLU and its promoters of defrauding investors out of at least $3.4 million (€3 million) through the sale of non-functional NFTs tied to footballer image rights, purchased with the company’s in-house token, $SHI. 

Among those named in the complaint are World Cup winners “Papu” Gómez and Lucas Ocampos, ex-Barca players Ivan Rakitić and Javier Saviola, as well as Nico Pareja and Alberto Moreno.

The alleged masterminds, Argentine businessman David Rozencwaig and Catalan entrepreneurs Manel Ángel Torras, his son Marc Alberto Torras, and Manuel Morillas, are accused of creating a “complex corporate structure” in Spain and Andorra, designed to evade taxes and avoid personal liability.

The complaint includes 13 expert reports and a financial analysis by top economics professor Prosper Lamothe, who describes the company’s structure as deliberately opaque and tax-evasive.

The NFTs were marketed as exclusive digital collectibles, some priced at over $513 (€450), but were never made tradable or supported by a functioning platform.

Shirtum allegedly used players’ reputations to build credibility, presenting them as “founders” and public ambassadors, according to the complaint cited by local reports. 

In March 2022, Shirtum claimed it had suffered two massive crypto thefts and was the victim of a hack, yet no police report was ever filed. 

Meanwhile, investigators say funds were siphoned for personal use, and the Shirtum platform was quietly abandoned. 

The footballers served as promotional faces for the venture, with “Papu” Gómez—a close friend of alleged ringleader David Rozencwaig—allegedly recruiting other players after promoting himself as a company “founder” before systematically erasing all Shirtum evidence from social media alongside his fellow players.

Big names, big losses

“This Shirtum Europa case really shows how tricky things can get with crypto and NFTs,” Mohith Agadi, founder of decentralized fact-checking system Fact Protocol, told Decrypt. “People see big names like football stars and think it’s a safe bet, but that trust can be exploited.”

The Shirtum scandal points to the volatile relationship between Spanish football and crypto partnerships. 

A ban on gambling advertising implemented in 2021 prevents La Liga teams from agreeing such deals with betting companies, creating a sponsorship vacuum that crypto firms rushed to fill.

However, this crypto embrace has proven problematic. 

Many La Liga clubs have been left with “defaults, complaints, and an experience to forget” after partnerships with crypto sponsors soured, with several Spanish clubs now suing their crypto partners for unpaid sponsorship fees.

As Agadi noted, “Blockchain’s great for tracking transactions, but scammers use it to fake legitimacy too.”

Edited by Sebastian Sinclair

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