Blockchain Security Guide

ChainCatcher news, recently, the Haidian Court, in conjunction with the China Internet Association, released the "White Paper on Corruption Crimes by Internal Personnel of Internet Enterprises" and published typical cases.In one case, a user manager of a certain network technology company introduced a supplier to cooperate on virtual currency business, accepted bribes, and embezzled virtual currency for cashing out. Ultimately, the court sentenced him to nine years in prison for bribery and six years for embezzlement, deciding to execute a total of twelve years in prison.

ChainCatcher news, according to Cryptoslate, Spanish law enforcement has teamed up with Europol to crack a large-scale transnational cryptocurrency money laundering case. The criminal organization laundered money for criminal groups in China and the Arab region through cryptocurrency transactions, with an amount involved exceeding 20 million euros.It is reported that the operation searched 14 locations and arrested 17 suspects, of which 15 have been detained pending trial. Law enforcement seized over 205,000 euros in cash, digital assets worth 183,000 euros, 18 luxury cars, and properties valued at approximately 2.5 million euros.

ChainCatcher news, according to Cointelegraph, blockchain security company Elliptic disclosed that a company registered in Colorado in 2022, Xinbi Co. Ltd, is associated with an illegal online marketplace called "Xinbi Guarantee."This marketplace is based on the Telegram platform and is a Chinese illegal market primarily serving Southeast Asian scammers, having received $8.4 billion in funds to date, mainly in the form of USDT transactions. Merchants on the market provide scammers with technology, personal data, and money laundering services, assisting them in carrying out "pig butchering" scams. Xinbi Guarantee claims to be an "investment and capital guarantee group company," but its status was updated to "delinquent" in January 2025 for failing to submit periodic reports on time. The black market's money laundering service has the largest transaction share and also offers Starlink devices, stolen personal data, and fake IDs.Elliptic states that Xinbi Guarantee is the second-largest illegal online marketplace, with transaction volumes exceeding $1 billion in the fourth quarter of 2024, and is linked to North Korean hacker money laundering. The $8.4 billion transaction volume may only be the tip of the iceberg of actual trading volume. The platform has 233,000 users and operates under a "guarantee model," yet remains a hotbed for illegal activities. Records from the Colorado state government show that Xinbi Co. Ltd was listed as "in violation" in January 2025 for failing to submit its annual report on time.

ChainCatcher news, according to the Ping An Xianning official account, recently, the police discovered a criminal gang led by Tang Moumou that set up multiple network devices to illegally access the international internet through unauthorized channels, using foreign software to engage in illegal virtual currency and foreign exchange transactions. Five individuals involved were apprehended on the spot, and all equipment used in the crime was seized. The public security authorities have imposed administrative penalties on Tang Moumou and six others, and the case is currently under further investigation.In October 2023, the Xianning police arrested individuals in a similar case, issuing a warning and imposing a fine of 15,000 yuan, along with the confiscation of illegal gains amounting to 90,000 yuan.

ChainCatcher news, according to the official WeChat account of Sunwu County People's Court, the Sunwu Court is hearing a case involving fraud and money laundering through over-the-counter trading of virtual currency. The individuals involved used two wallets to transact 30,396,278.76 U coins, engaging in nearly 10,000 U coin transactions with multiple parties, involving nearly 10,000 receiving accounts, with a total transaction amount reaching 120 million yuan. The virtual currency funds they handled were used in 7 telecom network fraud cases to gain the victims' trust, transferring funds back to the victims, or directly or indirectly receiving accounts of the fraud proceeds.The Sunwu Court lawfully sentenced the individuals involved for concealing and disguising criminal proceeds, imposing corresponding penalties and fines, and confiscating all their illegal gains.

ChainCatcher news, according to a report by Reuters, the North Korean hacker group Lazarus Group has registered multiple companies in the United States for cyber attacks targeting cryptocurrency developers. According to a report by cybersecurity firm Silent Push, the hackers registered companies such as Blocknovas LLC and Softglide LLC in New Mexico and New York, using false identities and addresses to distribute malware through fake job opportunities. The FBI has seized the Blocknovas domain, stating that it was used to deceive individuals and spread malicious programs. This behavior violates the sanctions imposed by the U.S. Treasury and the United Nations against North Korea.

ChainCatcher News, the FBI's Internet Crime Complaint Center (IC3) reported that in 2024, "the population aged 60 and above suffered the most losses in cryptocurrency-related scams," with a total of 33,369 complaints and losses amounting to $2.84 billion. The "40 to 49 age group" is the second largest victim group, with losses of $1.46 billion. Throughout the year, IC3 received "149,686 complaints related to cryptocurrency, with total losses reaching $9.3 billion," a year-on-year increase of 66%. The FBI warns that the public should "immediately report suspected cyber crimes to the FBI."

ChainCatcher news, according to a report by Cointelegraph, based on the latest report from the blockchain analysis platform DappRadar, there were 21 "Rug Pull" incidents at the beginning of 2024, while there have only been 7 incidents so far in 2025, indicating a yearly decline in their frequency. However, since the beginning of 2025, the Web3 ecosystem has lost nearly $6 billion due to such incidents, with 92% attributed to the collapse of Mantra's OM token (the token's founder denies this was a "Rug Pull"). In contrast, the total losses from "Rug Pull" incidents during the same period in 2024 were $90 million.DappRadar analyst Sara Gherghelas pointed out that although the frequency of such incidents has decreased, their destructiveness has increased, and the scams have become more complex, often orchestrated by professional teams. The nature of these incidents is also evolving; in the first quarter of 2024, many originated from DeFi protocols, NFT projects, and Meme coins, while in the same period of 2025, they mostly occurred in the Meme coin sector. Gherghelas also warned that a sudden surge in the number of unique active wallets, high transaction volumes but low user activity, unverified smart contracts, limited GitHub activity, anonymous developer teams, or projects with sudden spikes in DApp activity could all be warning signs of a "Rug Pull."