Hardware wallet maker Ledger has regained control of its Discord server after a moderator’s compromised account was used to spread phishing links targeting users&#8217; seed phrases. According to an announcement on the official Discord server, the breach occurred on May…

Crypto wallet maker Ledger regains control of Discord after phishing attack

In its Q1 2025 report, blockchain intelligence company Messari highlights 
significant developments in Rootstock, a bitcoin sidechain, including a 
record-high merged mining participation rate of 81%, up from 56.4% in the 
previous quarter. This came following the integration of Foundry, the largest 
bitcoin mining pool. Transaction costs on the network dropped by 60% due to 
[…]

Rootstock Achieved Record Merged Mining Participation Despite Declining User Activity in Q1

Ether&#8217;s market capitalization surged 42% in five days following the successful 
launch of Ethereum&#8217;s Pectra upgrade on its mainnet.
On May 12, the company data tracker 8marketcap showed that Ether (ETH) 
surpassing Coca-Cola and Alibaba, ranking as the world&#8217;s 39th-largest asset by 
market capitalization. At publication time, ETH was trading at approximately 
$2,550, with a market cap exceeding $308 billion.
By comparison, Coca-Cola stock trades at around $70, giving it a market cap of 
$303.53 billion. Alibaba stock trades at about $125, with a market 
capitalization of $303.72 billion.
ETH&#8217;s recent price action comes on the heels of a network upgrade that 
improves the storage of layer-2 scaling data, validator user experience and 
smart account wallet user experience features.
_Ether surpasses Coca-Cola and Alibaba in market capitalization. Source: 
8marketcap_
## Ethereum implements the Pectra upgrade on mainnet
Originally scheduled for March 2025, Pectra faced delays after technical 
challenges arose during testing.
On Feb. 24, the upgrade was deployed on Ethereum&#8217;s Holesky testnet. Following 
the deployment, the upgrade failed to finalize on the network, leading the 
developers to investigate and address the issues. On March 5, Pectra was 
rolled out to the Sepolia testnet, but the developers encountered errors made 
worse by an attacker who caused the mining of empty blocks.
To further prepare for the deployment, Ethereum core developers created a new 
testnet called &#8220;Hoodi&#8221; before deploying the upgrade to the mainnet on May 7.
With the upgrade, externally owned accounts (EOAs) can act as smart contracts 
to cover gas fees and payments using tokens that are not ETH. In addition, 
validator staking limits were increased from 32 ETH to 2,048 ETH, simplifying 
operations for large stakers. The upgrade also increases the number of data 
blobs per block, allowing better scalability for layer-2 networks.
Since the upgrade, ETH&#8217;s price has started to skyrocket. On May 7, Ether 
traded at about $1,786, according to CoinGecko. On May 12, Ether went as high 
as $2,550, representing a 42% increase in value.
_Ether&#8217;s seven-day price chart. Source: CoinGecko_
 _**Related:**__**Vitalik Buterin outlines vision as Ethereum ecosystem 
addresses hit new high**_
## Security professionals warn of risks post Pectra upgrade
However, the upgrade introduced potential security risks. Post upgrade, 
cybersecurity experts warned that attackers could exploit a new transaction 
type to control EOAs without users signing onchain transactions.
Solidity smart contract auditor Arda Usman previously cautioned in comments to 
Cointelegraph that these vulnerabilities could allow attackers to drain funds 
through offchain signed messages.
_**Magazine:**__**12 minutes of nail-biting tension when Ethereum &#8216;s Pectra 
fork goes live**_

Ethereum flips Coca-Cola and Alibaba as ETH gains 42% in 5 days

## Social engineering in crypto, explained
_In the world of cryptocurrency, security goes beyond just protecting your 
wallet with a password or private key. One of the most deceptive and 
increasingly dangerous threats to crypto users today is social engineering._
While you might think of cyberattacks as highly technical affairs, social 
engineering manipulates the most vulnerable aspect of security: human nature.
At its core, social engineering refers to the act of manipulating people into 
divulging confidential information or granting unauthorized access to systems.
Unlike traditional hacking, which typically exploits technological 
vulnerabilities, social engineering targets the human element. Attackers rely 
on deception, psychological manipulation and trust-building tactics to deceive 
their victims. By exploiting psychological weaknesses, attackers can trick 
individuals into giving up their private information, credentials or funds.
In the world of crypto, this kind of manipulation is especially dangerous 
because transactions are irreversible, and the decentralized nature of 
cryptocurrencies can make it even harder to recover lost funds. Once funds are 
transferred or access is granted, it&#8217;s almost impossible to reverse the 
action. This makes crypto users a prime target for social engineering attacks.
_**Did you know?** In 2024, phishing and spoofing topped the US Federal Bureau 
of Investigation&#8217;s list of reported cybercrimes, with victims also losing over 
$6.5 billion to crypto-related investment fraud, according to the Internet 
Crime Complaint Center._
## Anatomy of a social engineering attack: Step by step
_Social engineering attacks trick crypto users by gaining trust, creating 
urgency, and then stealing sensitive info to drain their wallets._
### Step 1: The setup &#8212; Scouting for targets
Scammers start by lurking on social media platforms such as X, Discord, 
Telegram and Reddit.
They look for:
 * Newbies asking for help 
 * People showing off their gains or NFTs 
 * Users who accidentally leak wallet addresses or emails.
The more info they gather, the easier it is to craft a personalized attack.
### Step 2: The approach &#8212; Gaining trust
Next, they reach out, pretending to be:
 * A helpful support agent (e.g., from MetaMask, Binance) 
 * A famous crypto influencer 
 * A friend or community manager.
They copy profile pictures, usernames (sometimes with slight changes), and 
even fake verification badges to seem real. This is all about lowering your 
guard.
### Step 3: The hook &#8212; Creating urgency or fear
Now they trigger your emotions with urgent, scary or tempting messages:
 * &#8220;Your wallet is at risk &#8212; act now!&#8221; 
 * &#8220;Exclusive airdrop ending in 5 minutes!&#8221; 
 * &#8220;We detected suspicious activity &#8212; please verify your account!&#8221; 
 * They use fear, excitement and time pressure to force you into quick action without thinking.
### Step 4: The ask &#8212; Extracting sensitive info
This is where the real trap springs. They ask you to:
 * Share your private key or seed phrase (a big red flag) 
 * Click a link to a phishing site that looks like MetaMask, Phantom or OpenSea 
 * Approve a suspicious smart contract that drains your wallet 
 * Send a small amount of crypto to &#8220;verify your account&#8221; or &#8220;unlock&#8221; funds.
If you fall for this step &#8212; game over.
### Step 5: The heist &#8212; Draining your crypto
Once they get your sensitive info or get you to sign a malicious transaction, 
they:
 * Instantly drain your wallet of coins and tokens 
 * Swap your assets into privacy coins (e.g., Monero) to hide the trail 
 * Launder the funds through mixers or exchanges.
Victims usually realize the theft too late; sadly, funds are gone forever in 
most cases.
_**Did you know?** Onchain analyst ZachXBT uncovered an additional $45 million 
stolen from Coinbase users in early May 2025 through social engineering scams 
&#8212; a tactic he says is uniquely prevalent on the platform compared to other 
crypto exchanges._
__
## Common types of social engineering scams in crypto
Scammers target crypto users via phishing, impersonation, giveaway and romance 
scams, and fake investment platforms.
### Phishing
Phishing remains one of the most prevalent forms of social engineering in the 
crypto world. This can take several forms but typically involves fake 
websites, apps or emails designed to look legitimate.
 * **Fake wallet apps:** Scammers create fake versions of popular wallet apps like MetaMask or Trust Wallet. They trick users into downloading these apps, which then steal the private keys and funds stored within them. 
 * **Fake exchanges:** Similarly, attackers might impersonate well-known cryptocurrency exchanges. Victims are sent a link to a phishing site that looks identical to a legitimate platform, such as Binance or Coinbase. Once users log in and input their details, the attacker gains access to their funds. 
 * **Fake MetaMask pop-ups:** One common trick involves fake pop-ups that prompt MetaMask users to enter their seed phrase or private keys, thereby giving scammers control over their wallets.
### Impersonation
Impersonation scams occur when attackers pose as legitimate figures &#8212; whether 
that&#8217;s support staff, crypto influencers or even friends &#8212; to convince 
victims to hand over their information or funds.
 * **Fake support staff:** In many cases, scammers will impersonate customer support agents for popular crypto wallets or exchanges. They might reach out to users claiming there&#8217;s an issue with their account and ask for sensitive information, such as a password or seed phrase. 
 * **Influencers and friends:** Attackers might pretend to be well-known crypto influencers or friends, asking for funds or convincing victims to participate in a scam. In some cases, attackers even go as far as to hijack a social media account of a crypto personality, offering fake giveaways or investment opportunities.
### Giveaway scams
&#8220;Send 1 ETH, get 2 ETH back&#8221; &#8212; this is the classic giveaway scam that has 
made its rounds throughout the crypto community. Scammers pose as trusted 
entities, often mimicking celebrities like Elon Musk or official crypto 
exchanges, claiming they&#8217;re running a giveaway.
The catch? The scammer asks you to send cryptocurrency to a specified wallet 
address in exchange for a larger amount of crypto that you&#8217;ll receive &#8220;later.&#8221; 
Once the funds are sent, they disappear.
### Romance and friendship scams
Romance and friendship scams, often known as pig butchering, occur when an 
attacker builds an emotional connection with the victim through messaging 
platforms like Telegram or even dating apps. Over time, the scammer gains the 
victim&#8217;s trust and then lures them into a fake investment opportunity, often 
involving cryptocurrency.
Victims are manipulated into sending funds to what they believe is a secure 
investment, only to lose all their money when the scammer disappears.
### Fake investment platforms
Fake investment platforms promise extremely high returns with minimal risk &#8212; 
too good to be true. These scams might mimic legitimate crypto investment 
platforms, promising high returns on crypto investments or passive income 
streams.
Once users deposit their funds, the platform either disappears or the scammer 
stops responding to communication.
## Why social engineering works so well in crypto
Social engineering attacks thrive in the cryptocurrency world because they 
take advantage of certain vulnerabilities that are unique to the space. The 
combination of psychological manipulation, technical complexity and the 
irreversible nature of crypto transactions makes crypto users particularly 
susceptible to these types of scams.
Below are the key factors that explain why social engineering is so effective 
in the crypto environment:
 * **Fear and urgency:** Crypto scams often create a sense of urgency to pressure victims into acting quickly. Common examples include emails or messages stating, &#8220;Your account is locked!&#8221; or &#8220;You need to verify your identity to avoid losing access to your funds!&#8221; These messages push users to make impulsive decisions that they later regret. 
 * **Greed:** Social engineering tactics often prey on a person&#8217;s desire to make quick, easy money. Scammers might promise users huge returns on investment or offer &#8220;exclusive&#8221; crypto deals that seem too good to pass up. This appeals to the greed of crypto investors, making them more likely to act impulsively.
 * **Lack of crypto security knowledge:** Many crypto users, especially beginners, may not fully understand how crypto security works. This makes them more susceptible to attacks like phishing, where they might unknowingly give up their private keys or passwords. Scammers take advantage of this lack of knowledge to manipulate and deceive.
## How to protect yourself from social engineering attacks
_While social engineering is hard to prevent entirely, staying vigilant, using 
2FA, verifying links and practicing strong security habits can significantly 
reduce your risk._
Several steps you can take to minimize your risk include:
 * **Be skeptical of unsolicited messages:** Always be cautious when you receive unsolicited messages, whether by email, SMS or social media. If someone contacts you out of the blue asking for sensitive information or money, verify the authenticity of the message before acting. 
 * **Enable two-factor authentication (2FA):** Always use 2FA whenever possible. This adds an extra layer of security to your accounts, making it harder for attackers to gain access &#8212; even if they manage to obtain your password. 
 * **Verify links and URLs:** Before clicking on any link, hover your cursor over it to see where it leads. If the URL looks suspicious or doesn&#8217;t match the official site, don&#8217;t click it. Always double-check URLs for legitimacy, especially when dealing with crypto transactions. 
 * **Educate yourself and others:** The best defense against social engineering is knowledge. Stay informed about common scams and share this knowledge with others. The more you know, the less likely you are to fall for a scam. 
 * **Use strong security practices:** Consider using hardware wallets for storing your crypto assets, as these are considered much safer than keeping them on exchange platforms or software wallets. Always keep your private keys and seed phrases secure and never share them with anyone.
In a crypto world full of scammers, your best defense is vigilance, education 
and strong security practices &#8212; because even the smartest tech can&#8217;t protect 
you from a well-crafted con.

What is social engineering in crypto (and how to protect yourself)?

As the cryptocurrency market continues its rollercoaster journey, investors 
and enthusiasts are keenly watching Bitcoin’s trajectory. With whispers of a 
$200,000 price tag circulating, many are wondering if this bold milestone is 
within reach in 2025. Toobit experts, known for their data-driven insights and 
deep understanding of market dynamics, have weighed in on this pressing 
question. Here’s what we predict: Why is Bitcoin Going Up? Toobit experts 
attribute the recent surge in Bitcoin’s price to several factors. First, the 
ongoing expansion of the crypto strategic reserve by major financial 
institutions has provided a solid foundation for BTC’s long-term growth. This 
move signals increased institutional confidence, which often triggers broader 
market optimism. Additionally, the 2024 Bitcoin halving event, which 
significantly reduces the rate at which new coins are mined, is expected to 
cut supply and increase scarcity, further pushing the price upward. Bitcoin 
Dominance and Market Influence Another critical factor driving this potential 
rise is Bitcoin’s dominance. Historically, Bitcoin dominance – the measure of 
BTC’s share of the total cryptocurrency market – tends to climb during bull 
runs. This dominance is seen as a marker of overall market confidence, often 
leading to new Bitcoin all-time highs as investors flock to the most trusted 
digital asset during times of economic uncertainty. Why Toobit Experts Believe 
BTC Will Hit 200k in Late 2025 Toobit experts anticipate that the convergence 
of multiple macroeconomic and crypto-specific trends will drive BTC toward the 
$200,000 mark. Key factors include the continued institutional accumulation of 
Bitcoin as a strategic reserve asset, the maturation of the broader crypto 
market, and a potential influx of retail investors seeking refuge from 
inflation and economic instability. This combination of reduced supply, 
increased demand, and heightened global interest sets a strong foundation for 
Bitcoin to potentially break past its previous all-time high and reach this 
ambitious target. Path to $200,000: The Key Catalysts Institutional Adoption: 
With companies adding BTC to their balance sheets and the rise of Bitcoin 
ETFs, institutional participation is expected to skyrocket. Regulatory 
Clarity: Clearer regulatory frameworks in major economies could reduce market 
fear and attract more traditional investors. Geopolitical Instability: 
Bitcoin’s role as a digital store of value and hedge against inflation 
continues to grow amid global economic tensions. Final Verdict: When Will 
Bitcoin Really Hit 200k in 2025? Toobit experts remain cautiously optimistic. 
They believe that if macroeconomic conditions align, and the crypto market 
maintains its upward momentum, Bitcoin reaching $200,000 by late 2025 is not 
just possible, but probable. However, they caution that such a price surge 
would require sustained adoption and a continued narrative of digital gold, 
coupled with market maturity to withstand external shocks. As always, 
potential investors should approach this market with a long-term perspective 
and a solid risk management strategy. About Toobit To stay updated on the 
latest crypto news and happenings, make sure to follow Toobit. Toobit Exchange 
has emerged as a leading platform for crypto trading, offering a seamless 
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potential profits through leverage trading. Traders can explore a wide range 
of assets, including BTC and ETH, taking advantage of advanced tools and risk 
management features. With live coin updates, where you can get the latest news 
on XLM price, coin updates on Futures such as BTC price and ETH price, and 
even PEPE price, Toobit does it all! Create an account with Toobit today and 
find out how we&#8217;re more than just a little crypto.

Toobit Experts Predict: When Will Bitcoin Hit 200k in 2025?

Three Florida teenagers are facing charges of kidnapping, robbery, and 
extortion after allegedly abducting a man at gunpoint and stealing $4 million 
in crypto and non-fungible tokens. According to local media, two of the 
suspects, both 16 years old from…