In February alone, hackers drained around $1.5 billion from the exchange Bybit, accounting for nearly half of all funds stolen this year. This incident highlighted how one breach can now dominate the industry’s annual losses.

Behind much of the damage sits North Korea. Despite carrying out fewer confirmed attacks, hackers linked to the Democratic People ’s Republic of Korea stole at least $2.02 billion in 2025 — a 51% jump from the year before and the highest annual total ever recorded.

North Korean groups were responsible for about 76% of all major service compromises this year. Overall, estimates suggest the country has now stolen at least $6.75 billion in cryptocurrency over time.

Investigators say Pyongyang’s success increasingly relies on deception. Operatives infiltrate crypto firms by posing as IT workers, recruiters, or even investors, using fake job offers and business meetings to gain access. 

Evolving method

While eye-catching exchange hacks grab headlines, the pattern of theft is shifting. Attacks on individual users’ personal wallets have risen sharply in recent years, reflecting how everyday investors are increasingly being targeted alongside large firms.

At the same time, centralised crypto services continue to suffer devastating blows. Even with professional security teams, exchanges and custodians remain vulnerable when private keys are compromised. These incidents are rare, but when they happen the losses are enormous.

As a result, crypto crime is becoming more extreme. In 2025, the three biggest hacks alone made up 69% of all losses suffered by services. The gap between a “typical” theft and the largest attacks has never been wider.

This year marked a grim milestone. For the first time, the biggest single hack was more than 1,000 times larger than the median theft, surpassing even the peaks seen during the 2021 crypto boom.

Metropolitan Police seized more than 61,000 bitcoin from her, concluding a probe that began when she fled China for Britain on falsified documents.

Prosecutors said Qian masterminded a vast investment scam between 2014 and 2017 that defrauded more than 128,000 people in China. She converted much of the money into bitcoin and sought to launder the funds through luxury property purchases in the UK.

Qian first made a blip on authorities’ radar in 2018 following a tip about suspicious cryptocurrency transfers. She was arrested after five years on the run.

"Bitcoin and other cryptocurrencies are increasingly being used by organised criminals to disguise and transfer assets, so that fraudsters may enjoy the benefits of their criminal conduct," said Deputy Chief Crown Prosecutor Robin Weyell.

"This case, involving the largest cryptocurrency seizure in the UK, illustrates the scale of criminal proceeds available to those fraudsters."

Her accomplice, Jian Wen, was sentenced earlier this year to six years and eight months for money laundering. 

Wen moved from a flat above a restaurant to a multimillion-pound rented home in north London during the scheme. Police also seized bitcoin worth $400 million from her.

Qian’s conviction comes amid growing concern over large-scale scams across Asia. 

The United Nations has warned that countries such as Thailand are emerging as hubs for transnational fraud, with some groups using artificial intelligence to target victims.

 These steps are meant to support innovation while protecting users and keeping financial systems safe.

Cabinet Secretary Eliud Owalo said the country’s approach is shifting.

“We’re pivoting from apprehension to leadership,” he posted on X , formerly Twitter, calling digital assets “the future of finance.”

Kenya’s decision marks a big change from its previous cautious stance.

Until recently, most financial regulators in the country had warned citizens against cryptocurrencies, calling them risky and unregulated.

However, that tone is changing, driven by rising use of blockchain technology and crypto trading at the grassroots level.

The government says more than $500 million is now traded every month in Kenya through digital platforms, showing how mainstream these technologies have become despite the lack of clear laws.

The move also follows the launch of the Kenya Digital Token (KDT), a civic-led token built on the Solana blockchain.

Although not issued by the government, the token has gained attention and was welcomed by the ministry earlier this month. Officials say it reflects the kind of innovation they want to see.

The government says blockchain and crypto tools could open global markets to young Kenyans, giving people in rural areas a way to raise money, invest or access services without traditional banks.

The timeline for passing the bill and implementing the new rules has not yet been made public.

Kenya’s push comes as other African nations also explore digital finance.

Nigeria has already launched a central bank digital currency, while countries like South Africa and Ghana are testing blockchain projects.

Police in Istanbul on Sunday detained more than 50 individuals attempting to participate in a banned LGBTQ+ Pride march, according to activists and an opposition lawmaker. The Istanbul Governor’s Office had prohibited the event, citing concerns over “social peace, family structure, and moral values.” Authorities deployed a heavy police presence across central areas, effectively blocking large gatherings. Officers reportedly clashed with activists displaying rainbow flags. Pride marches have been officially banned in Istanbul every year since 2015.

Turkish authorities detain 109 in Izmir as opposition crackdown widens

Turkish police detained 109 people, including opposition politicians and a former mayor, in the western city of Izmir on Tuesday as part of a corruption investigation, according to state-run Anadolu Agency . The operation, ordered by the Izmir prosecutor, targeted 157 individuals over alleged corruption, tender rigging, and fraud. Authorities are still searching for the remaining 48 suspects. Among those detained are senior members of the opposition Republican People's Party (CHP), including former Izmir Mayor Tunc Soyer and a provincial party chairman. CHP lawmaker Murat Bakan likened the operation to earlier arrests in Istanbul, stating on social media that the judiciary appeared to be "acting on instructions."

Turkey enforces new crypto rules

Turkey has introduced strict new regulations on cryptocurrency transactions to enhance transparency and combat illicit activity, the Financial Crime Investigation Board (MASAK) announced on June 28. Published in the Official Gazette, the measures fall under Law No. 5549 and apply to Crypto Asset Service Providers (CASPs). Key changes include mandatory waiting periods, transfer limits, and enhanced anti-money laundering (AML) obligations. Under the new rules, (1) Crypto transfers face a minimum 48-hour delay, and first-time withdrawals from storage accounts require a 72-hour waiting period, (2) All transactions must include verified user identification and a minimum 20-character description. (3) Transfers are capped at $3,000 per transaction and $50,000 daily between platforms. (4) CASPs must implement internal risk management systems, undergo independent AML audits, and report suspicious activity.

Turkey-Libya maritime deal amid Greek opposition

Eastern Libyan authorities signalled support over the weekend for the controversial Turkey-Libya maritime memorandum , as tensions between Greece and Turkey escalated further. Benghazi-based “Prime Minister” Osama Hamad publicly backed the agreement, while lawmakers in Tobruk announced plans to hold a parliamentary vote on ratification within the week. The European Union has condemned the memorandum as illegal. Greece, which has opposed the deal since its signing in 2019, sees it as a direct threat to its maritime interests and a longstanding obstacle in its strained relations with Turkey.

Turkey urges continued Iran-Israel ceasefire in talks with UK foreign secretary

Turkish Foreign Minister Hakan Fidan met with British Foreign Secretary David Lammy in Ankara on Monday, calling for sustained efforts to uphold the ceasefire between Iran and Israel following their recent 12-day conflict. The meeting, part of Lammy’s first official visit to Turkey since taking office, also included talks with President Recep Tayyip Erdoğan. Fidan stated that one of Turkey’s current strategic priorities is to ensure the ceasefire is maintained and to work toward lasting regional peace.

It does not treat them as digital currency or conventional investment tools but classifies them as distinct digital assets.

While the law stops short of setting out a full regulatory system, it is being seen as a crucial first step towards clear crypto governance.

Officials say the new law aims to bring transparency to the crypto sector and promote responsible innovation.

The legislation also supports the use of blockchain technology and artificial intelligence , part of Vietnam’s goal to become a digital-first economy.

Authorities believe this legal move could improve the country’s relationship with the Financial Action Task Force and help Vietnam meet international anti-money laundering standards.

FIS Director Muluken Amare confirmed that while crypto trading remains illegal, preparations are underway to build the technical and legal capacity to respond to potential violations.

Ethiopia is currently investing in technology and human resources to detect and monitor virtual transactions.

Officials stress that even in the absence of full legalisation, there is a need for a regulatory framework to deter misuse and prevent cryptocurrencies from being exploited for crimes such as money laundering and terrorism financing.

Other countries are also making strides in the regulation of crypto transactions. All over the world, countries including the United States and the United Kingdom are putting in place measures to ensure that crypto trading is regulated.

Within the global south, these other countries are also in the race to ensure regularised crypto transactions.  While their strategies differ, the trend is clear: crypto is no longer on the sidelines, and governments are racing to shape its future within their borders.

China

China has taken one of the toughest positions globally on cryptocurrencies.

The country banned Bitcoin mining in 2021, prompting the closure or relocation of mining operations. Later that year, it declared all cryptocurrency transactions illegal, effectively outlawing crypto trading and related businesses.

The People’s Bank of China stated that crypto enterprises had been facilitating unregulated public financing, leading to risks for investors and threats to financial stability.

Despite the ban, China continues to explore blockchain technology and has advanced its central bank digital currency (CBDC), the digital yuan, as a government-backed alternative to decentralised cryptocurrencies.

Singapore

Singapore has taken a more structured approach by recognising cryptocurrencies as property, though not legal tender.

The Monetary Authority of Singapore (MAS) regulates exchanges under the Payment Services Act and has issued multiple guidelines to limit public advertising by digital payment token providers.

In 2023, MAS launched a framework for stablecoins, requiring issuers to meet strict conditions to be recognised as “MAS-regulated.”

While the country does not tax long-term capital gains on crypto, it does tax companies that actively trade in digital assets.

This regulatory clarity, combined with low taxes and investor protections, has positioned Singapore as a hub for crypto innovation and governance in the region.

India

India remains undecided on whether to fully legalise or ban cryptocurrency.

While a bill to prohibit private cryptocurrencies has been circulated, it is yet to be passed into law. Instead, India has implemented one of the highest crypto tax rates globally, imposing a 30% tax on gains and a 1% tax deducted at source on all trades.

In its 2022 Finance Bill, the Indian government defined virtual digital assets as property and introduced tax reporting obligations, signalling a step toward formal regulation even without full legal clarity.

Despite mixed signals, India continues to participate in global crypto conversations and has supported calls for international regulation.

Brazil

Brazil has passed a legal framework that formally recognises cryptocurrencies as valid forms of payment.

Although Bitcoin is not considered legal tender, the government enacted Law No. 14,478 in 2023 , which sets out rules for virtual asset service providers.

Under the law, the Central Bank of Brazil was designated as the authority to regulate and supervise crypto activities. Brazil’s approach is aimed at promoting adoption while ensuring financial security and transparency. With regulatory infrastructure now in place, the country has taken a leading role in Latin America’s push for responsible crypto integration into the mainstream economy.

The proposal was announced by Deputy Prime Minister and Finance Minister Pichai Chunhavajira during a finance forum in Bangkok.

According to him, officials are looking at how other countries have made similar systems work and are now in talks with the Bank of Thailand to test the idea before launching it more widely.

“In some foreign countries, it's already possible to use crypto for purchases by linking it to credit cards. When something is bought, the vendor receives payment in local currency as normal, often not even realising the buyer used crypto,” Pichai was quoted by The Nation .

The finance minister also said the government wants to update existing laws so that the stock market and the digital asset market are no longer regulated separately.

This would allow investors to move money more easily between stocks and crypto, and give financial institutions greater flexibility.

Pichai added that some rules, especially those limiting where large funds like insurance companies can invest, are outdated and may soon be changed to boost activity in the Thai stock market.

These reforms, he said, will support long-term investments and help local businesses, especially those focused on clean energy and sustainability, grow in line with global trends.

Esta baja en las acciones ha sido provocada por el aumento de tensión entre Trump y Powell, y por el impacto de los aranceles comerciales. El 21 de abril, Trump utilizó su plataforma Truth Social para abogar por "Recortes Preventivos" en las tasas de interés, argumentando que "los costos de energía están en baja, los precios de los alimentos son sustancialmente más bajos, y otros aspectos están tendiendo a la baja, no hay inflación". Por su parte, Powell ha mantenido altas las tasas de interés en un 4.5%, a pesar de las críticas del presidente, quien se refirió a él como "Mr. Too Late" y un "gran perdedor".

Trump también ha defendido su posición pidiendo el despido de Powell, sugiriendo que su "terminación no puede llegar pronto suficiente". Se anticipa que la Reserva Federal mantendrá su política de espera en la reunión del 7 de mayo, con un 13% de probabilidad de un recorte de tasas, según el CME Fed Watch. Simultáneamente, el índice del dólar estadounidense (DXY) ha descendido un 10% este año, cayendo por debajo de 98, su nivel más bajo en tres años.

Raoul Pal, fundador y director de Real Vision, comentó que "todos necesitan y quieren un dólar más débil para hacer frente a sus deudas en dólares", añadiendo que esta forma de liquidez global es actualmente el mayor impulsor de la oferta monetaria global M2. En contrapartida, los mercados de criptomonedas han mantenido su capitalización total en $2.83 billones, con Bitcoin (BTC) alcanzando un máximo de cuatro semanas de $88,500 el 22 de abril. Los analistas de Bitfinex destacaron que "en medio de uno de los períodos más turbulentos para los mercados globales en años, Bitcoin está mostrando una impresionante resiliencia".

As of April 21, 2025, Gerovich updated that the firm's total investment in Bitcoin reaches approximately $414.5 million, with an average purchase price of $85,386 per Bitcoin. The recent acquisition marked the firm’s third purchase of Bitcoin within the month, amid a backdrop of market turbulence characterized by US tariffs and broader pessimism regarding price movements.

Metaplanet financed the latest purchase by raising $13.3 million through bonds. The firm's ambitious aim is to amass 21,000 Bitcoin by the year 2026, reflecting an increasing demand for Bitcoin in Japan. CEO Gerovich also indicated that Metaplanet has achieved a Bitcoin yield of 119.3% year-to-date in 2025, signifying a successful investment strategy.

Despite prevailing market challenges, Bitcoin has been noted for outperforming U.S. equities, with a realized volatility of 43.86 in early April 2025, in comparison to the S&P 500's 47.29 and the Nasdaq 100's 51.26. This performance is propelling companies, including Metaplanet, to consider Bitcoin as both a strategic asset and a hedge against fiat currency depreciation.

In addition to Metaplanet, Remixpoint—another Japanese firm—has also begun accumulating Bitcoin to mitigate the effects of the yen’s depreciation, holding a total of 333.19 BTC. This reflects a broader trend among Japanese companies recognizing Bitcoin's potential as a robust asset amid a fluctuating financial landscape.

Venezuelan authorities are investigating claims by Colombian paramilitaries that they were approached to destabilise the government of President Nicolás Maduro. The paramilitaries alleged that Venezuelan far-right groups had contacted them to carry out attacks and create chaos during the country’s presidential election. The investigation is focused on possible criminal activity and is being carried out under the supervision of the Public Prosecutor’s Office. This is not the first time Maduro has accused the opposition of similar plots.

US authorisation of LPG exports to Venezuela

The US authorisation of LPG exports to Venezuela has no impact, as Venezuela does not import liquefied gas and meets national demand through its own production, according to the Venezuelan Anti-Blockade Observatory. The Observatory said in a statement that the US Treasury Department's extension of "General License 40C" does not affect Venezuela's oil industry progress. The authorisation does not allow for payment-in-kind or transactions prohibited by Venezuela Sanctions Regulations. Caracas plans to monetise its gas reserves to supplement revenues from crude oil and fuel exports. In October, the US eased sanctions on Venezuela, but in April 2024, some sanctions were reinstated.

Pride Day celebration

Thousands of Venezuelans went on the streets on July 7 to celebrate Pride Day in the Latin nation’s capital Caracas with rainbow flags, flashy costumes, and motorised caravans. This event included demonstrations in support of the LGBTQ+ community, AP News reported.

Crypto remittances

Venezuelans remitted $461 million worth of crypto in 2023 despite the government crackdown. Data shows that crypto remittances reached a record 9% of all money sent to Venezuela, with $9 out of every $100 remitted in the form of tokens like Bitcoin. Over 7.7 million people have left Venezuela in the past 10 years, with more than $5.4 billion in remittances received in 2023, constituting at least 6% of the country's GDP. Peer-to-peer platforms have become popular among Venezuelans, allowing them to exchange cryptocurrencies at market rates and bypass official exchange controls.

Freedom chants at opposition rallies

The Venezuelan opposition is rallying for "Freedom!" ahead of the July 28 presidential election, seeking an end to 25 years of socialist rule under President Nicolás Maduro. The opposition's candidate, Edmundo González Urrutia, has support from a divided and disenchanted base, including those seeking economic freedom and the ability to criticize the government without fear. The ruling party, despite its control, faces a significant challenge in the upcoming election, VOA News reports.

SEC endorsed One Asset Management (ONEAM) as the first company to launch the fund. The

The ONE Bitcoin ETF Fund of Funds Unhedged and not for Retail Investors (ONE-BTCETFOF-UI) is restricted to ultra-high net-worth individuals (UHNWI) and wealthy institutional investors.

According to the Bangkok Post , the fund has a policy to allocate its investments across 11 prominent global funds, ensuring both liquidity and safety. It adheres to rigorous international standards for secure coin storage and has been reviewed by regulatory agencies in the United States and Hong Kong.

ONE-BTCETFOF-UI is scheduled to be distributed between May 31 and June 6 with an investment risk level of eight.

A spot bitcoin ETF is an exchange-traded fund that tracks the current price of bitcoin. It offers investors a way to invest directly without having to buy or hold the assets.

Simsek explained the only remaining issue within the scope of technical compliance is the work related to crypto assets.

"We will submit a law proposal on crypto-assets to the parliament as soon as possible. After that, there will be no reason for Turkey to stay on that grey list, if there are no other political considerations."

Simsek did not provide further details about the proposed legal changes.

The FATF, established by the G7 group of advanced economies to safeguard the global financial system, had previously cautioned Turkey about "serious shortcomings," including the need to enhance measures for freezing assets associated with terrorism and the proliferation of weapons of mass destruction in 2019.