USDT Investor Loses $2.6 Million in Sophisticated Phishing Scam

A cryptocurrency investor suffered a significant loss of $2.6 million in USDT due to a phishing scam involving address poisoning tactics. The incident, reported by blockchain compliance firm Cyvers, highlights the growing sophistication of crypto scams and the importance of security measures in digital asset transactions.

Crypto Investor Loses $2.6 Million in Phishing Scam Involving USDT

A cryptocurrency investor was duped out of $2.6 million in stablecoins through a phishing scam, with two transactions occurring within three hours. Blockchain compliance firm Cyvers reported the incident on May 26, detailing how the victim first transferred $843,000 in Tether (USDT) to a fraudulent address, followed by a second transfer of $1.75 million to the same scammer.

The attack involved an address poisoning tactic, where the scammer used zero-value transfers to deceive the victim. Cyvers’ alert highlighted the repeated targeting of the same individual, underscoring the sophistication of the scheme. Such incidents serve as a stark reminder of the persistent risks in the crypto ecosystem, despite advancements in security protocols.

BitMEX Launches Multi-Asset Margining with XRP and RLUSD Support

BitMEX has rolled out Multi-Asset Margining, a feature enabling traders to collateralize derivatives positions with multiple cryptocurrencies. The update integrates XRP as an approved margin asset alongside RLUSD, USDT, USDC, ETH, and BTC (XBT).

The expansion of margin options reflects growing demand for flexible trading infrastructure. By accommodating diverse collateral types, BitMEX reduces friction for institutional and retail participants alike.

Derivatives markets continue evolving as exchanges compete on product depth. BitMEX’s MOVE follows industry-wide efforts to capture market share through enhanced capital efficiency.

TRON (TRX) Network Hits $600B USDT Transaction Milestone Amid Ethereum Competition

TRON’s blockchain has cemented its position as a dominant force in stablecoin transfers, processing a record $600 billion in USDT transactions—surpassing Ethereum’s volume since January 2022. The network’s lower fees and faster settlements continue to attract users migrating from higher-cost alternatives.

Whale activity suggests growing institutional interest, with large holders accumulating TRX NEAR the $0.27 price level. Despite the launch of SunPump’s CEX Alliance to bolster TRON-based meme coins, adoption remains tepid with just 98,300 tokens created to date.

Technically, TRX shows consolidation between $0.256 support and $0.274 resistance as momentum indicators flatten. The network’s fundamental strength contrasts with muted price action, setting the stage for a potential breakout if demand catches up to on-chain activity.