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US Crypto Startup Loses $900,000 to North Korean Operatives

In a striking example of cybercrime intersecting with international espionage, four North Korean nationals have been indicted for defrauding an Atlanta-based cryptocurrency startup of nearly $1 million. Announced by the US Department of Justice on July 1, 2025, as part of its DPRK RevGen: Domestic Enabler Initiative, this case highlights the sophisticated tactics used by state-sponsored actors to exploit the rapidly growing cryptocurrency industry. This article explores the details of the scheme, its broader context, other tactics employed by North Korean hackers, and the implications for the crypto sector.

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[Marketexchange]

China Issues Fresh Warning on Stablecoin Scams as Hype Peaks

Shenzhen authorities have sounded the alarm over a wave of illegal fundraising schemes masquerading as stablecoin investments, underscoring Beijing’s zero-tolerance stance even as the rest of the world accelerates regulation of dollar-pegged digital assets. The city’s task force for combating illicit finance published an advisory on 7 July urging residents to “stay rational” when approached with high-yield pitches linked to so-called “virtual dollars.”

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[Marketexchange]

UK to Impose £300 Fines for Concealing Crypto Holdings

The United Kingdom is preparing to slap crypto investors and service-providers with fixed financial penalties if they fail to hand over key user data to the tax office. A draft regulation published by HM Treasury confirms that anyone who withholds required personal details—such as name, address and tax ID—could face an immediate £300 fine (about US $408) and additional daily charges until the information is supplied. The measure implements the Crypto-Asset Reporting Framework (CARF) drawn up by the OECD and is scheduled to take effect on 1 January 2026.

“These regulations will close a critical transparency gap and give HMRC the tools to detect and deter offshore tax evasion involving cryptoassets,” the Treasury said in the explanatory note to Parliament.

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