Monat: Juni 2025

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Crypto scams spike as meme coins, weak laws fuel $2.1B crime wave

  • Over 50% of some crypto protocol volumes involve stolen funds.
  • $2.1 billion stolen via crypto hacks so far in 2025.
  • Tron blockchain “Black U” market worth up to $10 billion.

The crypto industry is facing a fresh wave of crime, driven by a rise in politically backed meme coins and legal loopholes that continue to shield malicious actors.

Blockchain investigator ZachXBT, known for tracking on-chain fraud, warned in a recent post on X that crypto-related crimes have entered a “supercycle”, with fraudulent activities becoming more sophisticated and widespread.

His comments come amid a broader industry reckoning, as high-value hacks, phishing schemes, and the misuse of decentralised protocols threaten to undermine trust in the space.

Outdated court rulings and unchecked influencers add to the problem

According to ZachXBT, one of the major reasons behind the crime surge is the way courts continue to side with exploiters of smart contracts due to obsolete legal frameworks.

In many cases, those who manipulate decentralised systems walk free because judges interpret code-based exploits as fair use rather than theft.

He also highlighted the role of influencers and key opinion leaders (KOLs) who promote fraudulent crypto projects without facing any consequences.

In jurisdictions where failing to disclose paid advertisements is illegal, enforcement remains weak or non-existent.

ZachXBT estimated that regulators could have made between $50 million and $100 million in fines over the years by holding such individuals and projects accountable.

In a tweet, he remarked that “if you ever wanted the opportunity to extract from the industry, there’s not been much of a better time,” referencing the sense of lawlessness currently dominating the ecosystem.

He added that over half of all transaction volume in certain protocols involves stolen funds, and yet teams continue to collect fees without scrutiny.

Criminals exploit blockchain transparency and weak oversight

While blockchain technology allows for full transaction transparency, which helps trace illicit funds, ZachXBT said that it also enables crime by giving bad actors insight into network activity and vulnerabilities.

North Korean-linked groups such as Lazarus have allegedly taken advantage of this.

ZachXBT suggested that laundering groups and OTC brokers have successfully processed stolen funds from platforms like Bybit, DMM Bitcoin, and WazirX.

These operations often go undetected for extended periods due to the volume and complexity of transactions involved.

He also claimed that a shadow market, dubbed “Black U,” has emerged on the Tron blockchain, with an estimated value between $5 billion and $10 billion.

Much of this activity is suspected to involve laundering operations that are difficult to track despite blockchain records.

Losses continue to mount across the industry in 2025

ZachXBT’s warning coincides with mounting evidence of damage. According to blockchain security firm CertiK, more than $2.1 billion has been lost to crypto attacks in 2025 so far.

In May alone, cybersecurity company PeckShield reported 20 significant crypto hacks amounting to $244.1 million in stolen assets.

Although this marks a 39.29% decrease from April, the scale of ongoing theft remains alarming.

The recent rise in data leaks has further exposed user vulnerabilities, highlighting the need for stronger protections.

ZachXBT concluded his remarks by questioning whether systemic change would only occur after large-scale losses force regulators to act.

For now, the combination of speculative mania, regulatory gaps, and unchecked promotion continues to create a fertile environment for crypto-related crime.

The post Crypto scams spike as meme coins, weak laws fuel $2.1B crime wave appeared first on CoinJournal.

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SUI price prediction amid fears of an extended correction

  • SUI has broken below a key support as bearish sentiment intensifies.
  • Derivatives data shows declining interest and rising short positions.
  • Network activity has dropped sharply, signalling weak fundamental support.

The price of Sui (SUI) has come under intense pressure in recent days, stirring concerns among traders and investors about the possibility of a deeper correction in the near term.

After what appeared to be a promising rally above the $4 mark, SUI has since reversed its gains and now flirts with a crucial support zone that could decide the token’s next major move.

Notably, SUI opened the week on a bearish note, and it has continued to drop, shedding over 5% in the last 24 hours to trade around $2.75. This marks a significant pullback from its recent high of $3.51.

Although the token still maintains an impressive 255% gain over the past year, its short-term momentum has notably weakened.

SUI price analysis signals caution

SUI recently broke down from a triangle pattern, triggering a wave of selling that has pulled the token back to a familiar support level at $2.78, which acted as a floor in late March.

SUI price analysis

A failure to hold this zone on a daily close could trigger a steep drop toward the $2.24 level, which aligns with the 23.6% Fibonacci retracement level from the all-time high of $5.35 and the year-to-date low of $1.71.

Adding to the concern, momentum indicators are flashing mixed but generally negative signals.

While the Relative Strength Index (RSI) is nearing oversold levels at 33.64, it has also formed a bullish divergence that some traders believe could signal a reversal.

However, the Moving Average Convergence Divergence (MACD) remains in bearish territory, showing no clear sign of upward momentum just yet.

SUI derivatives market shows a bearish market sentiment

Data from Coinglass highlights a significant drop in Open Interest (OI) for SUI, which currently stands at $1.15 billion — the lowest in nearly two months.

Sui open interest

This marks a 43% decline from its peak of $2.05 billion recorded in May, indicating a clear outflow of capital from the derivatives market.

The declining OI is accompanied by a falling OI-weighted funding rate, currently at 0.0060%, further suggesting reduced bullish enthusiasm.

Additionally, the taker buy/sell volume reveals that short positions now dominate, accounting for 55% of volume, compared to 45% for longs.

These figures point to a decisive shift in trader sentiment, with the long/short ratio at 0.8195 indicating a prevailing bearish bias.

Unless sentiment improves, the pressure on spot prices is likely to persist.

Head-and-shoulders pattern points to a $2.20 target

Technical analysts have noted the emergence of a head-and-shoulders pattern on SUI’s daily chart, adding weight to the bearish narrative.

According to market analyst NebraskanGooner, this classic reversal setup could push SUI down to the $2.20 region by early July.

The breakdown from the right shoulder coincided with a rejection at the 99-day simple moving average, highlighting a failure to maintain key technical levels.

The $3.00–$3.10 region, which previously served as support, now acts as a significant resistance barrier.

If bulls fail to reclaim this area in the coming sessions, the bearish pattern may continue to play out, putting further pressure on price action in the short term.

Fading network activity fuels more doubt

On-chain metrics also paint a bleak picture for SUI’s near-term prospects.

Daily transaction volumes on the network have plummeted from over 19 million to just 9 million, while daily active accounts have dropped from 1.66 million to around 320,000 according to data from SuiVision.

This sharp decline in network activity reflects waning interest and suggests that the earlier rally may have been driven more by speculation than sustained demand.

The loss of momentum in both price and usage underscores the difficulty SUI may face in mounting a swift recovery.

Despite a slight rebound in futures market exposure, with open interest still hovering around $1.2 billion, the broader outlook remains cautious.

Market participants appear to be waiting for clearer signals before committing to new positions.

What to look out for going forward

All eyes are now on the $2.78 support level. A successful bounce from this area could open the door for a move back to the psychological $3 level and possibly toward the monthly high of $3.55.

However, a breakdown followed by a failed retest could pave the way for a drop to $2.20 or even lower.

Looking further ahead, analysts like CoinLore forecast a potential price range of $3.77 to $5.80 by the end of 2025.

However, while this suggests room for long-term growth, the near-term path remains clouded by technical weakness and shrinking on-chain activity.

For now, until bulls reclaim key resistance levels and network fundamentals stabilise, SUI’s short-term outlook will likely remain fragile.

Traders should closely monitor both technical support zones and broader market sentiment before making high-conviction moves.

The post SUI price prediction amid fears of an extended correction appeared first on CoinJournal.