Purported white-hat hackers have taken nearly 4,000 Bitcoin worth over $300 million from the wallet that backs the Liquid Network.

Liquid is a Bitcoin sidechain that allows users to move BTC onto a separate network for faster transfers, with the original coins held in a shared wallet.

The platform says the withdrawal occurred through the SideSwap Peg-out Authorization Key, though that key and others remained uncompromised.

Other assets on the network, including USDT, DePix, and RWAs, are unaffected.

Exchanges have been notified and are pausing or have already paused LBTC deposits and withdrawals.

Bridge nodes were temporarily disabled, effectively pausing the Liquid sidechain until the issue is resolved.

The Blockstream team is contacting the actors on-chain using a signed message.

“We are aware of a security incident on @Liquid_BTC. Purported white-hat hackers have withdrawn ~4,000 BTC (~$320 million) from the Liquid Federation wallet. The @Blockstream team is working on contacting them on-chain with a signed message…

What we know so far is that the funds were withdrawn via the SideSwap PAK (Peg-out Authorization Key), but that key was not compromised, nor were any others.”

Liquid wallets are impacted, but the federation is working to restore normal operations.

Bitcoin transactions continue to function normally on related services.

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Traders betting against Bitcoin are getting liquidated as BTC’s price pushes through $81,000.

CoinGlass shows $544.85 million in leveraged crypto bets closed out in the last 24 hours, says CoinGlass.

Most of that is shorts. Long liquidations hit $88.42 million, with short liquidations at $456.44 million.

Bitcoin’s rally coincides with a sharp decline in the US Dollar Index, which fell to 99.001, down 0.58% on Thursday.

USD/JPY is also plunging nearly 2.5% over 24 hours, a move widely viewed as evidence of major intervention by Japanese authorities.

BTC is priced at $80,879 at time of publishing, up 3.98% in the last 24 hours.

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A New York bank and a credit union are taking losses from fake checks totaling about $66,000.

The deposits were made at FourLeaf Federal Credit Union in Baldwin, in Nassau County, and at a Capital One branch in Plandome Manor, reports the LI Herald.

Nassau County police say the fake checks went in on January 7th and January 29th, and detectives with the department’s Electronics Squad made an arrest on September 1st.

Richard Almonte, 37, of Copiague, is accused in the case. Police say one Nassau County resident was harmed along with the credit union.

Almonte faces two counts of third-degree grand larceny, one count of attempted second-degree grand larceny and one count of second-degree criminal possession of a forged instrument. Arraignment is at First District Court in Hempstead on September 2nd.

FourLeaf is a credit union that serves members on Long Island and beyond.

Police say people who think they were targeted can call Nassau County Crime Stoppers at 1-800-244-TIPS or 911. Those calls stay anonymous.

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Security researchers have found malware hidden in 19 Chrome and Edge extensions that drained cryptocurrency from digital wallets and collected passwords and personal details.

The tools targeted Solana, Tron, and EVM wallets and also pulled data from Facebook and LinkedIn, plus browser history and login details, reports Socket.

Five of the extensions started as legitimate products, and attackers later bought them and added malware.

The other 14 were built by the attackers. They went up clean first, then got a bad update after people installed them.

The list includes Enable Right Click & Copy, RapidLens, QuickLens, Private Crypto News Reader and DeFi Pulse Tracker.

Google has pulled the Chrome listings. People who installed any of these should treat their data as exposed and change their passwords.

Socket is a software security firm that watches open-source code and browser add-ons for hidden malware.

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A group of 21 banks and financial firms including Bank of America, Wells Fargo, Citigroup and Goldman Sachs are preparing to launch a dollar stablecoin for business payments across borders.

The firms say they will form a new company in the second half of 2026 and aim to have the token live in the first half of 2027, reports the Wall Street Journal.

Stablecoin are digital tokens meant to stay pegged to a currency, in this case the U.S. dollar.

The first customers are meant to be companies sending money overseas. Some regions may later offer it to regular customers. After the dollar version, the group wants tokens tied to other Group of Seven currencies, with the euro first.

Deutsche Bank, Santander, UBS and Fidelity are also in the group, along with banks in Canada, Japan, the Middle East and Africa.

Banks are treating this as a defense against independent stablecoins that could pull deposits and payment fees away from them.

JPMorgan Chase has looked at launching its own stablecoin. Those talks are early, and it has no product in the works. Banks have also worked together on tokenized deposits, which are regular bank deposits represented as digital tokens.

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A Pennsylvania resident has admitted to defrauding investors and a credit union in a scheme powered by fake companies and unauthorized borrowing.

47-year-old James Addy of Lancaster County has admitted to numerous fraud counts and identity theft offenses, reports Local21News.

Prosecutors say he posed as a high-net-worth entrepreneur running a Beverly Hills consulting firm called the Yarah Group worth roughly $200 million.

One victim was persuaded to hire him to manage a business and fund investments, after which he secured loans totaling about $722,000 in that victim’s name without permission.

A second person provided a short-term advance to another entity he controlled, expecting quick repayment that never materialized.

He also passed a bad check at a Pennsylvania federal credit union and withdrew the proceeds before the item bounced.

Court records show the total losses reached $755,995, leading to orders for full restitution plus fines and supervised release after prison.

Addy has pleaded guilty to 13 counts of wire fraud, one count of bank fraud and two counts of aggravated identity theft.

Investigators from the FBI’s Philadelphia office handled the case that spanned roughly two and a half years.

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A Central New York post office employee has admitted to stealing more than $118,000 from the U.S. Postal Service through a scheme involving fake money orders.

Morrisville postmaster Delos Thurston says he created 179 fraudulent money orders without collecting payment between April 2025 and January 2026, reports Syracuse.com.

The 28-year-old has committed to repaying the full amount stolen from postal operations.

Senior U.S. District Judge Glenn T. Suddaby imposed three years of probation as the sentence following the guilty plea to money order fraud.

Authorities say he worked alone with no accomplices identified in the case.

The U.S. Postal Service Office of Inspector General investigated the internal theft at the small-town location in Madison County.

The scheme exploited refund processes typically reserved for customers at the facility.

Similar fraud cases involving postal employees issuing unauthorized money orders have appeared in other parts of New York in recent years.

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A pharmaceutical distributor is confirming unauthorized access to its cloud systems that resulted in data exfiltration.

McKesson says it discovered the incident on August 25th, involving unauthorized access to third-party applications.

The company says the affected data relates to a subset of customers in its oncology and multispecialty division as well as its medical-surgical unit.

The extortion group ShinyHunters claims it obtained access through vishing calls that tricked employees into revealing Okta single sign-on credentials, then pivoted to Salesforce and Snowflake platforms.

The group alleges roughly 284 million patient-record lines and about one terabyte of data were taken between August 21st and 25th, and has set a September 1st deadline for a $55 million payment to avoid publication.

McKesson says it has reasonable assurance of no ongoing unauthorized activity and continues to operate all lines of business.

McKesson has not confirmed the record count, full data types, or ransom details.

The company filed an SEC Form 8-K and plans to offer credit monitoring and identity protection services to impacted individuals.

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A South Carolina home care nurse allegedly took ownership of her elderly patient’s house for $5 before he died.

Robert Rowland, 75, had Parkinson’s and a brain injury. His daughter drove in from out of state to check on him, reports Law & Crime.

That’s when the nurse, Sarah Smalls, answered the video doorbell and told her he was dead and the house was now hers.

Records show Smalls became his power of attorney in April. Weeks later, on April 17, a quitclaim deed transferred the Conway house to her for $5.

Bank statements show money moving from his account to Smalls, including after he died in June.

Nora said she walked into a remodeled house with fresh paint and photos of people she did not know.

A neighbor had already called senior services after seeing furniture hauled out and noticing Robert was not himself.

Police came on a trespassing call, briefly handcuffed Nora and her partner and then dropped the charges.

Griswold Home Care says it did not know about the deed or the transfers. County deed officials say they record paperwork that meets basic legal rules and do not check whether a deal is fair.

Conway police are investigating possible exploitation of a vulnerable adult, and no arrests have been reported.

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An Alabama house cleaner is accused of stealing $400,000 in cash hidden at an elderly couple’s home, taking small amounts repeatedly while working there.

The victims reported the theft after noticing the money missing and pointed to their cleaner as the suspect, reports Fox 10.

Authorities executed a search warrant at 28-year-old Tabitha White’s property after she admitted during an interview to removing “handfuls of cash” over several months.

Investigators recovered the funds along with numerous items purchased using the stolen money, including multiple vehicles, four-wheelers, electronics, lawn equipment and construction supplies.

Additional purchases uncovered during the probe included a mini-excavator, a large television and various unopened appliances still in packaging.

White now faces one felony count of financial exploitation of the elderly, with officials indicating more charges could follow as the investigation continues.

A sheriff’s lieutenant described the theft as shameful, noting how such crimes target vulnerable people living on fixed incomes who rely on what they have saved.

The couple kept the large sum of cash at their residence rather than in a bank, though details on its exact storage location remain unclear from official reports.

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A fraud ring has diverted at least $5.8 million from Miami-Dade County condominium and homeowners associations through falsified invoices and affiliated vendors.

The operation relied on property management companies to siphon funds intended for roofing, security, landscaping and other upkeep, reports CBS News Miami.

Investigators describe the ringleader as a 60-year-old man who leveraged relationships with elderly, mostly Spanish-speaking board volunteers to gain control of association finances and operations.

Authorities say board members often signed documents without realizing the full implications, allowing the group to transfer money into personal accounts instead of paying legitimate expenses.

The probe, called Operation Sundown, uncovered involvement from multiple companies and led to arrests on charges including racketeering, money laundering, organized fraud and grand theft.

Affected properties include several in the Hialeah area such as Los Sueños Condominiums, where residents report broken gates, nonfunctional cameras and vandalism despite ongoing fees and assessments.

Officials say the total losses likely exceed the identified amount and emphasize that the investigation remains active with additional details emerging.

Similar HOA fraud cases have surfaced elsewhere in Florida, highlighting vulnerabilities in association governance and vendor oversight across the state.

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A U.S. regulator is ordering a former federal employee to pay $172,000 after misappropriating confidential access to presidential speeches to profit from bets on prediction market event contracts.

The Commodity Futures Trading Commission says the individual breached his duties of trust and confidence while working as a White House teleprompter operator.

He traded presidential mention market contracts reflecting words or phrases the president might use during speeches.

The CFTC details the misconduct in its enforcement order.

“The Commodity Futures Trading Commission today announced an order filing and settling charges against Gabriel Perez for misappropriating material, nonpublic information obtained through his federal government employment in order to trade event contracts (i.e., swaps) on a prediction market platform for his personal benefit.”

The order finds that between December 2025 and February 2026 Perez had access to presidential speeches prior to delivery and used that information to generate over $107,500 in unlawful profits.

“while working as a teleprompter operator for the White House, Perez traded presidential mention market contracts, which are event contracts reflecting words or phrases the President may use during his speeches. In his position, Perez had access to presidential speeches prior to those speeches being delivered and Perez misappropriated that information—in breach of his duty of trust and confidence—to trade presidential mention market contracts, generating over $107,500 in profits.”

The settlement requires disgorgement of $107,539.02 plus a $65,000 civil monetary penalty discounted for cooperation.

Perez must also cease and desist from further violations and faces a three-year trading ban.

The CFTC acknowledged assistance from KalshiEX in the matter.

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Blockchain sleuths are tracking a major transfer of Official Trump meme coin tokens to a leading cryptocurrency exchange.

The firm Lookonchain says that the team behind the token transferred 2.62 million TRUMP tokens valued at $6.21 million over the weekend, with the tokens then deposited into OKX.

According to Arkham Intelligence data, the Official Trump Meme entity controls 15 addresses holding 751.799 million TRUMP tokens priced at $2.71. That totals about $2.04 billion.

The entity’s overall portfolio stands at $2,037,000,000, reflecting an 11.81% gain.

This is not the first transfer from the team behind the token.

The same wallets previously deposited more than 8 million TRUMP tokens worth over $23 million to OKX in April and have moved large amounts to major exchanges on multiple occasions throughout 2026.

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Traders betting against Bitcoin and the crypto markets are getting liquidated as BTC’s price pushes higher.

In the last 24 hours, a total of $1.93 billion in leveraged crypto bets have been liquidated, according to the market data tracker CoinGlass.

The vast majority of the liquidations hit traders going short, coming in at $1.75 billion. Long positions accounted for just $179.28 million.

Bitcoin led the wipeouts with roughly $1.15 billion liquidated, nearly all from short positions. Ethereum followed at about $516 million, also dominated by shorts.

Over 127,000 traders were forced out in total.

Bitcoin is now trading at approximately $68,344, up more than 5.6% in the last 24 hours.

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Researchers say ordinary mistakes involving testnet addresses, reused contracts and exposed private keys have triggered hundreds of millions in losses on Ethereum and BNB Chain.

The USENIX Association says on-chain analysis of millions of addresses identified 65,340 high-risk instances tied to contract and externally owned account misuse.

The term “address misuse” essentially refers to people accidentally sending their crypto to the wrong wallet, whether it’s a test-network address that doesn’t work on the real chain, an old or reused smart-contract address or an account whose private key was already exposed.

“Despite their importance, addresses also constitute a potential vector for security risks. Due to negligence, misoperation, or lack of knowledge, users may interact with unsafe or unintended addresses, even directly transferring tokens to these addresses.

Such incorrect address interactions, collectively referred to as Address Misuses in this paper, have caused prevalent and high-volume loss of assets in the real world.”

Sending crypto to the wrong type of contract address caused losses of 22,738 ETH and 8,681 BNB, while sending it to regular wallets whose private keys had already been leaked caused much larger losses of 104,245 ETH and 9,045 BNB.

The report was led by researchers from Sun Yat-sen University, Peking University and Zhejiang University.

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A crypto hardware wallet provider is disclosing an authorization flaw in its order-tracking plug-in that exposed sensitive customer order details.

SafePal says the flaw allowed unauthorized external access to names, email addresses, shipping addresses, phone numbers, and purchase details for approximately 39,798 customers who placed orders from March 2nd, 2025, to April 11th, 2026.

Information including name, email address, shipping address, phone number, and purchase details, was accessed externally without authorization due to the flaw.”

The company says no wallet credentials or financial data were involved or stored.

SafePal says it fixed the flaw upon discovery, implemented additional security measures, engaged a third-party auditor, and tightened data retention to 90 days.

All affected customers received individual email notifications from security@safepal.com on August 16th.

The company has also taken down more than 30 fraudulent websites and phishing links while opening a dedicated support channel.

Customers can verify their status on a dedicated webpage using their order ID and shipping country.

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A crypto analytics firm says large investors are boosting their stakes in Bitcoin, Ethereum and XRP, hinting that the prolonged market downturn could soon be over.

CryptoQuant’s new report, “Buying the Bear: A Signal of the Bear Market’s Final Stage” examines the recent accumulation by the largest wallets.

The firm says whales have stepped up positions across the key crypto assets, displaying buying activity that often marks the final phase of a bear market.

“Smart money is positioning across the majors.

Bitcoin whales are accumulating. Bitcoin whale holdings (excluding exchanges and mining pools) have risen through 2026 to roughly 3.06M BTC, with whales adding aggressively as price dipped below $60K in June — though still below the 2025 bull-cycle peak near 3.23M.

XRP whales are quietly positioning. Spot order sizes remain in “big whale” territory while price holds the $1.0–$1.2 range, yet 90-day taker CVD sits in a neutral phase — accumulation by absorption rather than aggressive market buying.

Large ETH holders are accumulating the bear market. The 10k–100k balance cohort has climbed to record highs near 19.6M ETH and the 100k+ balance mega-whales have added roughly 1.8M ETH since mid-2025 (about +70%), even as the smaller 1k–10k cohort keeps distributing — down ~2.7M ETH since January. Valuations are approaching the undervalued zone across the board. Bitcoin (~$64K) and XRP (~$1.1) trade near their realized prices ($52.9K and ~$0.75), while ETH (~$1,900) trades below its realized price of ~$2,450, near the lower band — historically late-bear-market zones.”

Although the firm believes the risk-reward in crypto markets has improved markedly, CryptoQuant warns further downside is always possible before a confirmed floor is reached.

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A contract employee at Iowa Workforce Development has been sentenced to more than a year in federal prison for submitting dozens of fraudulent unemployment claims.

The scheme allowed the worker to obtain nearly $30,000 in benefits through false filings, reports KIMT.

Victoria Tomeatre Green, 29, of Des Moines, has admitted to using her access to file 25 false claims under her own name.

She also submitted 27 additional false claims by misusing another person’s identity.

The fraudulent activity happened between March of 2020 and December of 2020 and resulted in $29,459 in improper payments.

Says Anthony P. D’Esposito, Inspector General for the U.S. Department of Labor,

“By exploiting the identities of innocent individuals, Green brazenly stole funds intended to support unemployed American workers.” 

Green received a sentence of 12 months and one day in federal prison. She must also complete three years of supervised release after prison.

Full repayment of the stolen amount is also required as part of the sentence.

The U.S. Department of Labor’s Office of Inspector General and the FBI conducted the investigation.

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An artificial intelligence company is preparing to pay $3.2 million to resolve federal allegations of discriminating against American workers during recruitment for certain roles.

OpenAI OpCo LLC and its subsidiary Statsig Inc. reached the combined settlement with the Justice Department over claims they violated the Immigration and Nationality Act by preferring temporary visa holders in the Permanent Labor Certification process, says the U.S. Department of Justice.

The companies allegedly discouraged U.S. applicants by requiring paper mail submissions, airing late-night radio ads, and skipping public job postings for fewer than 10 positions. Assistant Attorney General Harmeet K. Dhillon of the Justice Department’s Civil Rights Division says,

“It is illegal to discriminate against U.S. workers by preferring temporary visa holders for jobs. This substantial settlement ensures that OpenAI redresses harm and changes its recruitment practices so that U.S. workers receive a fair opportunity for highly sought-after technology positions.”

The settlement allocates $1.2 million in civil penalties to the government and $2 million into a fund for compensating affected workers.

OpenAI and Statsig must update hiring policies, provide staff training on immigration rules, and submit to three years of Justice Department monitoring with semiannual reports.

The firms deny any wrongdoing but agreed to the terms to avoid prolonged litigation and ensure future compliance with federal protections for domestic workers.

Statsig operates as a software development firm based in Bellevue, Washington, while OpenAI maintains its headquarters in San Francisco, California.

This resolution highlights ongoing federal scrutiny of tech companies’ use of visa sponsorship programs and their obligations to prioritize qualified U.S. candidates first.

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Authorities are asking crypto exchanges to add new withdrawal restrictions to combat rising fraud.

Japan’s Financial Services Agency and the National Police Agency are jointly urging the Japan Cryptocurrency Exchange Association to strengthen safeguards against fraud involving cryptocurrencies.

The request comes amid increasing complexity of criminal methods, expanding damage to exchange customers, and cases in which funds from special frauds are transferred into cryptocurrency exchange accounts.

The agencies direct the association to require its members to impose restrictions on cryptocurrency withdrawals for a certain period after customers deposit fiat currency or purchase crypto assets.

Exchanges must also introduce a pre-registration system for withdrawal destinations, with further restrictions on withdrawals for a set period after registration, and set appropriate withdrawal limits.

Additional measures include stronger checks to prevent irregularities at account opening, clear confirmations and warnings to customers, intensifying transaction and access-environment monitoring, and faster action on customer confirmations, transaction restrictions, and account freezes when suspicious activity is detected.

Exchanges are further asked to strengthen authentication in cases of suspected impersonation, confirm consistency between bank remitter names and crypto account holders, improve information sharing to detect fraud and unauthorized use, and enhance information provision and collaboration with police.

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Hackers siphoned a record $1.1 billion from cryptocurrency protocols in 212 onchain exploits during the first half of the year, according to a new report.

North Korea-linked groups account for $609 million or 55% of those losses, reports the blockchain security firm Blockaid.

Ethereum and Solana protocols suffered the heaviest network-level hits at approximately $332 million and $326 million respectively.

Major breaches hit KelpDAO for $292 million and Drift Protocol for $285 million, both tied to the same North Korea cluster.

The firm says the attack frequency climbs sharply from 18 in January to 57 in June, with April alone seeing $635 million stolen.

Zooming out, Blockaid verified more high-threshold exploits in this period than across all of 2025, signaling a sharp escalation in attacker scale and sophistication.

Operational security failures such as privileged key misuse drove roughly $790 million in damages, far outpacing code vulnerabilities.

Emerging risks include prompt injection attacks targeting AI agents and novel wallet delegation exploits that bypass traditional defenses.

Some vulnerabilities allow partial fund freezes or recoveries through code mechanisms, though outcomes vary widely across cases.

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Crypto researchers say Bitcoin investors have now lost more than $88 million to an exploit in the Coldcard hardware wallet.

Researchers at Galaxy say BTC is being drained from addresses by bad actors in waves, due to a firmware bug that dramatically reduced the randomness of how the wallet creates its secret recovery phrase.

“A 3rd wave in what we suspect are hacks of Coldcard-generated addresses has been identified in which 207.7294 BTC has been drained. Our estimated observed size of the Coldcard hack is now 1,367.05 BTC (~$88.6m) across 4,585 addresses…

Waves 1 and 2 followed similar patterns: the same funnel topology into a handful of shared collectors, the same P2WPKH destinations, the same mix of derivation paths, 27 hours apart. Treating them as one operator is reasonable, but it rests on resemblance, not on proof, and they already differ in two respects — the fee constant, and whether the sweeps signal replace-by-fee.

Even if we can assume Waves 1 and 2 are the same attacker, Wave 3 should not be assumed to be the same operator. It differs from both earlier waves on every behavioural axis we can measure: it abandons the shared collector for one destination per victim, it holds in P2WSH rather than P2WPKH, it batches an average of 6.37 victims into each sweep where wave 1 took exactly one, and it scans only the default derivation path.

It may be the same actor with rebuilt tooling — the anti-clustering design is exactly the evolution one would predict after waves 1 and 2 were enumerated — or it may be a second actor working the same vulnerable key space independently, which the published disclosures make entirely feasible. The chain does not distinguish these, nor can we…

The loss profile is dominated by sub-1 BTC addresses in count, but by larger addresses in value. This appears to be the shape of individual self-custody, not institutional holdings.

The vulnerable Coldcard firmware shipped on March 17, 2021 around block 674,951. Not one of the coins we have identified in Waves 1-3 taken was created before that block.”

The theft has triggered a scramble among Coldcard users to protect their funds.

Galaxy researchers say some initial addresses came from victim reports on X and were used to map the on-chain patterns.

They warn that this data is derived solely from analyzing Bitcoin block data and the unspent-output set, and they have not used compute to confirm whether the addresses identified as possible victims were actually generated with low entropy.

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Researchers at Galaxy Digital say about $70 million has been stolen due to an exploit in the popular Bitcoin wallet Coldcard.

The attack was enabled by a firmware bug that dramatically reduced the randomness of how the wallet creates its secret recovery phrase.

According to Galaxy, the vast majority of the funds were stolen in less than an hour.

“While new attacks are likely to occur if users do not migrate their funds out of affected Coldcard-generated addresses, the initial attack is identifiable onchain. Note that this analysis may not be complete, but it represents our best-efforts attempt at scoping the initial impact…

The full event spans six blocks and 41 minutes. Three intervening blocks contain no sweep activity at all, suggesting the transactions were broadcast in batches rather than streamed…

The loss profile is dominated by sub-1 BTC addresses in count, but by 1-50 BTC addresses in value. This is the shape of individual self-custody, not institutional or exchange holdings.”

Coinkite, the company behind Coldcard, says it takes full accountability for the firmware bug and has apologized to affected users.

The company has released emergency firmware updates for all affected models: version 4.2.0 or later for Mk3, 5.6.0 or later for Mk4 and Mk5, and 1.5.0Q or later for the Coldcard Q.

These updates remove the vulnerable software fallback path and ensure new seeds use the intended hardware true random number generator.

Critically, a firmware update alone does not secure existing seeds. Users must generate an entirely new recovery phrase on the fixed firmware and migrate their BTC.

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Americans continue to grapple with tight budgets that push some toward shoplifting basic goods.

A LendingTree survey of 2,000 adults shows 30% admitted to shoplifting in the past year.

That’s an increase from 24% in 2024.

Ninety percent of those who stole pointed to cost concerns and wider economic conditions as the main drivers.

Participants most often took food and nonalcoholic drinks, followed by clothing and hygiene items, with some also grabbing toys, electronics or school supplies.

Many viewed large chains as easier targets, with nearly half naming Walmart as the simplest option, ahead of Family Dollar, Amazon Fresh, and Kroger.

Says LendingTree chief consumer finance analyst Matt Schulz,

“These findings are concerning because they suggest many people aren’t shoplifting for thrills or resale, but because they feel squeezed by basic affordability challenges.

That doesn’t excuse shoplifting, but it does highlight how financially vulnerable many consumers are.

When people are risking arrest or fines to obtain food, hygiene products or other essentials, it suggests inflation and stagnant cash flow may push some households toward desperate choices.”

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A leading industry group is taking legal action against a state tax law that singles out blockchain-based assets for special treatment.

The Digital Chamber alleges the Digital Asset Tax Act in Illinois imposes a 0.2% levy on exchanges, transfers and storage of digital assets without equivalent burdens on economically identical activities involving cash, stocks, or bonds.

It further contends the tax applies repeatedly to routine operations and reaches transactions with insufficient ties to the state via broad presumptions.

The Act taxes mere custody and treats each exchange, transfer and storage as a separate taxable occurrence.

Plaintiffs are seeking declaratory and injunctive relief, asserting violations of Illinois and U.S. constitutional provisions on equal protection, commerce, and federal internet tax rules.

Plaintiff’s members include digital asset exchanges, custodians, financial institutions, payment companies, stablecoin issuers, tokenization platforms, and blockchain infrastructure providers.

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North Korean security forces have reportedly detained a network of elite hackers who turned their government-honed skills against the nation’s own financial systems.

The operatives targeted key government banking institutions to divert state assets and move proceeds through digital channels, reports Daily NK.

Former members of a military cyber unit reportedly joined forces with graduates from prominent technical schools to construct the underground operation.

“The ring converted stolen state trade funds into cryptocurrency and smuggled large amounts of foreign currency in border regions, the source said…

The breach struck at the core of North Korea’s financial system. It came from within, carried out by the country’s own IT workforce.”

Participants relied on imported wireless devices and secure messaging applications to avoid scrutiny while shifting funds across borders.

Daily NK says news of the scheme has generated widespread alarm among high-ranking officials, military personnel and academic communities across the country.

“Senior officials in the Reconnaissance and Intelligence General Bureau and in the country’s science and technology education sector are reportedly staying cautious. They worry that responsibility for the scandal could spread to them as well.”

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The FBI says it stopped more than half a billion dollars from reaching fraudsters last year by acting swiftly on reports from scam victims.

The agency says victims reported roughly $1.2 billion in qualifying cases last year, and agents froze $679 million of it for a 58% success rate.

The bureau’s recovery team collaborates with banks to block funds in fraudulent wire transfers before scammers access them.

Recovery works best when victims notify their bank immediately and file a complaint at IC3.gov within 48 hours.

Overall cybercrime complaints exceeded 1 million last year with total losses nearing $21 billion, according to the FBI’s 2025 Internet Crime Report.

Cryptocurrency schemes drove the highest individual losses at over $11 billion, while investment fraud accounted for nearly half of all scam-related damages.

The agency says victims should contact their bank first, then local FBI offices and avoid delays due to embarrassment that let funds cross borders or multiple accounts.

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Crypto is now a driving force behind the expansion of the US economy, according to a new report

The sector is expected to generate $55 billion in total economic output this year while sustaining 232,000 positions nationwide, including 34,000 direct roles at crypto companies, reports the National Cryptocurrency Association (NCA).

The figures indicate that crypto directly employs more people than benchmark industries such as coffee and tea manufacturing, aerospace and robotics, cement manufacturing and tobacco manufacturing.

Direct positions average $133,000 in annual pay, which is more than twice the national median wage of $64,000.

The analysis relies on input-output modeling from the Bureau of Economic Analysis and Bureau of Labor Statistics data.

The NCA says crypto’s economic contribution impacts a wide array of industries across the country. Crypto investments in securities and commodity contracts receive the largest share at $9.7 billion, followed by housing and real estate at $4.8 billion.

Employment concentrates are in California, New York, Texas, Washington, and North Carolina, with notable increases in Colorado and North Dakota tied to favorable regulations and energy resources.

Broader industry context shows 67 million Americans hold crypto assets, and the US ranks second globally in adoption rates. Additionally, 60% of Fortune 500 firms pursue related blockchain projects.

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A Pennsylvania healthcare services company has agreed to a $3 million class-action settlement stemming from a major cybersecurity incident.

Healthcare Services Group reached the agreement in Williamson et al. v. Healthcare Services Group, Inc., reports HIPAA Journal.

The firm supplies environmental, dining, and nutritional support services across thousands of long-term care and healthcare facilities in 48 states.

Unauthorized access to company systems reportedly allowed the theft of names, Social Security numbers, driver’s licenses, financial account records, login credentials and protected health information. Other information that was impacted include state identification numbers and health insurance information.

The data breach was identified on or around October 7th of 2024, and impacted the personal and protected data of 624,496 people.

Among the allegations leveled against Healthcare Services Group in the class action lawsuit that led to the settlement included negligence, breach of fiduciary duty, unjust enrichment and violations of consumer protection laws.

The settlement fund will cover legal costs and provide class members with three years of credit monitoring plus identity theft protection.

Eligible individuals can also seek reimbursement for out-of-pocket losses up to $5,000 each along with possible additional cash distributions.

The company denies any liability yet chose to resolve the claims and avoid prolonged court proceedings.

Claims must be submitted by October 1st of 2026, ahead of a final fairness hearing scheduled for September 24th of 2026.

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Two bank insiders have admitted to assisting a money laundering ring connected to illegal drug sales.

The pair helped power a money-laundering network by moving nearly half a billion dollars through accounts mainly in New York and New Jersey, says the U.S. Department of Justice.

One employee, Wilfredo Aquino, who worked as a TD Bank assistant store manager, processed over 1,600 official checks worth $92 million for the money laundering ring in exchange for gift cards valued at roughly $11,000. Aquino, who had pleaded guilty to charges of facilitating money laundering, was sentenced to 46 months in prison.

The other, Edward Low, also known as “Mang Wah Low” and “Eddie Low,” who worked as a TD Bank retail employee, accepted bribes totaling more than $26,000 and shared private customer details that enabled nearly $485,000 in fraud. Low, who had pleaded guilty in February, was sentenced to 24 months in prison for conspiring to commit wire fraud.

Prosecutors tied the operation to fentanyl trafficking and noted it prompted a wide probe into the bank’s monitoring lapses.

That investigation resulted in the lender agreeing to pay over $3 billion in penalties while facing limits on its U.S. retail assets.

The bank states that fixing its anti-money laundering systems remains its top focus and that it fully cooperated with authorities during the case.

Officials add that the institution has invested heavily in staff, training, procedures, and technology to strengthen those controls.

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Indiana’s Medicaid program has lost millions of dollars in an alleged scheme involving nonexistent home care services.

A for-profit agency billed the state for attendant care, community assistance and transportation that never took place, says the Indiana Attorney General’s Office.

Officials have filed charges against six people connected to Senior Home Care Agency, which operated from a Mooresville location after an earlier start in Indianapolis.

One defendant faces 50 fraud counts tied to the full $10.9 million loss while others face fewer counts and smaller alleged amounts.

An anonymous tip filed with the Indiana Department of Health in April 2025 prompted the probe into the agency’s billing practices and ownership structure.

Since 2021, the state’s Medicaid Fraud Control Unit has recovered more than $100 million through nearly 100 cases involving provider fraud.

The unit operates with 75% federal funding and 25% state support while working alongside other law enforcement agencies.

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One of crypto’s pioneering derivatives platforms is closing its doors after more than a decade.

BitMEX, the exchange that invented perpetual futures contracts, has notified users it will end all operations by September 23rd after an 11-year run in the industry.

“With immediate effect, we have stopped all new account registrations. Following a strategic review of the business and the broader crypto industry, the board of HDR Global Trading Limited, owner and operator of BitMEX, has decided to close the exchange. This comes with a heavy heart for all of us at the company and has not been taken lightly…

The BitMEX platform has always remained grounded to the true ethos of Bitcoin – neutrality, transparency, and decentralisation, which is evident through our peer-to-peer operations and a top priority focus on user fund safety. While this news is a difficult one to share, we are proud of everything that has been built at the company since its launch as a pioneer of crypto derivatives.”

The shutdown signals further consolidation among crypto derivatives providers, and users are advised to take necessary steps ahead of the final closure date.

No exact reasons beyond the announcement are provided in the initial notice.

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A politician in New Jersey is accused of stealing more than $914,000 from an 80-year-old businesswoman he considered a close friend.

Police say 50-year-old James Donio, the former president of the independent group Hammonton First, used fake leases, an improper mortgage discharge and unauthorized checks from the woman’s personal and business accounts between 2019 and 2025, reports NJ.com.

The woman, a lifelong Hammonton resident, had reportedly trusted Donio for years.

People close to the victim alerted authorities after spotting unusual activity in her financial records.

Donio was arrested over the weekend, and a pre-indictment conference is set for September 2nd.

He faces five theft counts along with charges for falsifying records and money laundering.

Authorities are asking anyone with information to call Hammonton police at 609-561-4000.

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Wealth concentration in the United States has reached extremes not witnessed in 100 years.

The richest 0.00001% of Americans now own 12% of national income, triple the Gilded Age peak, reports Moneywise.

Economist Gabriel Zucman highlights that in 1910 the figure stood at just 4%, but today it has soared dramatically.

“The focus is on the really narrow, very, very top of the distribution, the top 0.0001% that’s really a tiny number of individuals. That’s about 19 households today. It was four households in 1913. But this is where a lot of the action is taking place today.”

According to Zucman, the rate of income disparity has surged in the last 50 years to favor the top 1%. The economist adds that if the 19 wealthiest individuals decided to spend all of their fortunes, they could purchase about 10% of the value of all the goods and services produced in the US in a given year.

The United States now boasts 979 billionaires with combined assets of $5.7 trillion, the highest in the world. Forbes data shows that 15 of the 20 wealthiest people on the planet live in the US.

Zucman also notes that the ultra-wealthy are not spending their wealth in a way that could benefit lower-income individuals.

“It’s just an illustration of the overwhelming economic power that the rich have and the power that they have to buy elections, to buy media, to buy influence, to buy competitors.”

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A major cannabis company is preparing to dole out millions of dollars to customers affected by a significant data breach.

STIIIZY agreed to a proposed $2.95 million class action settlement resolving claims that it failed to prevent an October 2024 data breach that compromised the personally identifiable information or health records of customers.

The lawsuit was launched because the company allegedly maintained inadequate security measures that allowed unauthorized access to sensitive customer data.

“The Class includes all persons whose personally identifiable information or private health information (collectively ‘Private Information’) was accessed, compromised, or stolen in the Data Security Incident announced by Defendant on January 7, 2025. There is also a subclass that includes all persons who were residents of California when doing business with Defendant, whose Private Information was accessed, compromised, or stolen in the Data Security Incident announced by Defendant on January 7, 2025.”

Individuals whose information was stolen may claim cash payments or reimbursements for related losses on a pro-rata basis. California residents are entitled to receive twice the pro rata cash payments of other class members. Meanwhile, class members with documented losses can receive awards of up to $7,500.

Free credit monitoring services are also included for all participants as part of the resolution.

Eligible class members can submit a claim on or before September 10th using the settlement portal. The deadline to opt out or object is August 26th.

The final approval hearing is slated for October 19th.

The company denies all wrongdoing but agreed to the resolution to avoid further litigation.

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AI data center infrastructure firm Super Micro Computer (SMCI) says it received tens of billions of dollars in new orders in the last three months.

The massive orders point to explosive demand in artificial intelligence infrastructure, as SMCI shares explode close to 20% on the news, reports The Kobeissi Letter.

Revenue is now expected to nearly quintuple compared to the same period last year as the order surge underscores rapid expansion in the sector.

While SMCI is generating massive investor interest, The Kobeissi Letter warns that more investors are turning bearish on the US stock market.

“Bearish bets on US stocks are surging:

Short interest in the S&P 500 is up to ~3.7% of its free float, near the highest in data going back to 2010.

Short interest in the Russell 3000 is up to ~6.1%, also near an all-time high.

Both metrics have steadily increased since the start of 2025.

Furthermore, short interest across all NYSE-listed stocks rose to a record 9.0% of shares outstanding in late June.

By comparison, this metric peaked at ~5.0% during the 2008 Financial Crisis and ~6.0% during the 2020 pandemic.”

According to The Kobeissi Letter, the surging short interest suggests that the market is primed for a short squeeze.

A short squeeze happens when stock prices abruptly surge, forcing those who made bearish bets to buy back shares simultaneously to close their positions, fueling further rallies.

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US regulators have targeted an alleged investment scheme that promised guaranteed returns from crypto mining but delivered far less than advertised.

The Securities and Exchange Commission (SEC) is suing Mining Automatic and founder Zan Shaikh, alleging the Massachusetts-based operation raised $22 million from hundreds of investors between 2023 and 2025.

“Mining Automatic’s website represented that it offered investors the opportunity to obtain recurring passive income by relying on its expertise in crypto asset mining. The website claimed that its ‘advanced operations,’ ‘cutting edge technology,’ and ‘exclusively sourced, low-cost energy’ enabled it to ‘deliver consistent returns’ in a ‘future proof’ and ‘secure’ manner. The website also claimed that Mining Automatic had obtained ‘annual returns’ of 51.5% in 2021, 46.2% in 2022 and 51.8% in 2023.”

The regulator claims that only about 13% of funds went toward actual mining operations, which generated roughly $1.1 million while paying out $1.8 million to investors, creating Ponzi-like characteristics.

The SEC alleges that investor money was spent on marketing and Shaikh splurged the funds on real estate, vehicles and personal accounts.

“Despite promising to use investors’ funds to engage in crypto asset mining, Defendants spent approximately $7 million of the $22 million in Mining Automatic investments on marketing and advertising efforts to attract new investors. Defendants also spent about $500,000 of investors’ money on Shaikh’s unrelated business ventures.

In addition, Defendants spent significant sums from the investor funds through bank accounts and on credit cards on personal expenses for Shaikh, including real estate charges ($375,575), entertainment ($76,547), a car dealership ($151,750), and cash withdrawals ($118,585). Defendants also transferred $778,550 to bank accounts owned by Shaikh.”

The SEC alleges that payments stopped by March 2025 and that no one from the pool of 380 investors got their original investment back, leaving more than $20 million in principal unpaid.

The SEC seeks disgorgement, penalties and bans on Shaikh from securities activities or corporate roles.

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US technology stocks are facing intense selling pressure from hedge funds.

Hedge funds have offloaded information technology positions in six of the past eight weeks, marking the largest eight-week sales in at least a decade, reports Barchart, citing data from Goldman Sachs.

Technology ranks as the most-sold US sector among hedge funds in the last week alone.

The hedge funds’ overall tech exposure as a percentage of total market exposure has now declined to its lowest level since February 2026. At the current pace, the hedge funds’ tech exposure could reach its lowest point in at least five years as early as next week.

The sustained outflows reflect shifting risk appetites amid elevated valuations and broader market uncertainties.

Portfolio managers appear to be reallocating away from high-growth sectors toward more defensive areas.

The trend signals heightened caution among sophisticated investors regarding near-term technology performance.

Such moves could influence broader market dynamics in the coming weeks.

Goldman Sachs strategists led by Ben Snider says the “painful volatility in popular AI infrastructure stocks” has investors looking to invest in other sectors, reports Bloomberg.

“History, positioning, and lack of a favorable catalyst point to continued near-term challenges for the AI
infrastructure momentum trade despite solid fundamentals.”

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Overseas private investors are flooding US equity markets with unprecedented capital, according to analysts at the capital markets newsletter The Kobeissi Letter.

Foreign private sector net purchases of US stocks rose $35.2 billion month-over-month in May to reach $121 billion, the second-largest inflow on record, reports The Kobeissi Letter, citing data from Reuters.

“Everyone wants US stocks.”

This marks the second consecutive monthly increase. Year-to-date foreign private investors have purchased approximately $270 billion of US stocks. The record monthly inflow stands at around $130 billion in November 2024.

In contrast, foreign investors recorded large outflows from South Korean and Taiwanese stocks during the same period.

“Foreign investors dumped -$31 billion and -$28 billion of South Korean stocks in June and May, respectively, the two largest monthly outflows on record. Furthermore, foreign investors also sold -$18 billion of Taiwanese stocks in June, the 2nd-largest sale on record. Global capital continues to favor US equities over the rest of the world.”

Such sustained buying from abroad provides a powerful tailwind for US stock prices and liquidity.

The inflows demonstrate strong global confidence in American companies despite domestic market swings.

Analysts view the data as a key indicator of international appetite for US assets.

Global capital continues to favor US equities over other markets.

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Artificial intelligence is driving explosive growth in American entrepreneurship, according to a new report.

Data from the U.S. Census Bureau shows business formations in professional, scientific and technical services have surged about 45% since the launch of ChatGPT, reports Bloomberg.

Meanwhile, the number of construction businesses has increased by only about 10% over the same period.

Georgia Tech grad Alberto Flores, who is building an AI-powered law firm in Mexico, says he believes fears over AI-related job losses are getting people to move.

“AI is increasing pressure to get ahead. I see that a lot of people feel like, ‘AI is going to come for my job, so I have to do something.’”

The US Census Bureau now expects 29,700 new businesses to form each month for a year straight, based on paperwork filed with the IRS.

That number is 17% higher than projections from one year.

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A US bank employee has admitted to falsifying a loan application and handing $50,000 to himself.

The DOJ says 38 year-old Jordan Andrew Hennessy was responsible for negotiating the counteroffer to his own loan request at First Interstate Bank in Montana.

“His position allowed him to be on both sides of the transaction, negotiating with himself. Once the $50,000 line of credit was funded, Hennessy transferred the Stillwater Group funds from the joint account he created with his father’s name into his personal checking account.

Hennessy then used the funds to finance several transactions with an internet-based investment company and eventually defaulted on the $50,000 line of credit.”

The incident happened on March 11, 2022, when Hennessy was working as the commercial relationship manager.

Hennessy has pleaded guilty to one count of bank fraud and faces up to 30 years in prison, a $1 million fine, five years of supervised release and a $100 special assessment.

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A man in Maryland is accused of stealing a kitten and bringing it with him to rob a bank.

Police say the suspect is on camera walking into a pet supplies store and grabbing the black-and-white kitten, reports NBC4 Washington.

According to witnesses, he then ran inside a nearby PNC Bank, handed the cat to a bank teller and demanded cash.

Prince George’s County police managed to arrest the suspect while the bank took care of the cat.

Beltsville Community Cats rescue released a statement on what happened and says the kitten is safe.

“Catnapper’s Bank Robbery Attempt Foiled!

Magnolia, our sweet 3.5-month-old tuxedo kitten, had quite the adventure today after being stolen from her adoption habitat at Pet Supplies Plus in Beltsville.

The man who took her walked across the parking lot to a nearby PNC Bank branch and tried to use her as an accessory in his attempted robbery. He asked the bank manager to hold the kitten while he wrote a note, then handed the note to a teller demanding all the cash.

Thankfully, the robbery was unsuccessful, the suspect was arrested, and Magnolia was found safe and sound in the bank manager’s office, where the two had bonded over their shared ordeal.

Now that her brief “life of crime” is behind her, Magnolia is back to doing what she does best: stealing hearts.
She’s still looking for her forever home, where the only things she’ll be stealing are treats, toys, and cuddles.”

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A top crypto critic is pressing for more transparency on cryptocurrency profits tied to the White House as lawmakers weigh new market rules.

Senator Elizabeth Warren’s request follows a disclosure showing President Trump earned roughly $1.4 billion in crypto-related income in 2025.

That’s more than double the prior year and now accounts for the vast majority of his income.

The report also details significant family involvement including a 30% ownership stake by “Trump Family Members” in DT Marks Defi LLC, which alone generated over $590 million in 2025 and holds a major interest in World Liberty Financial, the crypto company founded by Trump and his sons.

Warren’s letter calls for voluntary updated filings through mid-2026 by late July to inform ongoing Senate discussions on the Clarity Act, which would establish a comprehensive regulatory framework for digital asset markets by clarifying the respective roles of the SEC and CFTC.

Says Warren,

“Your financial disclosure raises key questions about the appropriateness of Presidents, Vice Presidents, senior administration officials, members of Congress, and their families profiting off the crypto industry, just as the U.S. Senate debates crypto market structure legislation that has the potential to increase the value of your crypto holdings. Unfortunately, it is not an up-to-date reflection of your finances: it does not account for any changes that have taken place in recent months…

It is essential that Congress have access to the most accurate information possible while debating this legislation and considering ethics safeguards to prevent federal officials from inappropriately profiting from the very industries they are responsible for regulating.

I therefore ask that you voluntarily release an updated and comprehensive financial disclosure report that incorporates information through July 15, 2026. Given the timeliness of my request, please release this updated disclosure by July 23, 2026.”

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A major US crypto exchange is introducing streamlined options contracts aimed at unlocking broader adoption in the derivatives space.

Kraken says it has launched European-style, USD-settled Bitcoin (BTC) and Ethereum (ETH) options on its Pro platform, starting with request-for-quote functionality for eligible international clients.

Expansion to a public order book, Europe,and more assets are planned next.

The new offering integrates into existing accounts with portfolio margin and supports collateral in over 30 currencies to lower barriers for retail traders.

Kraken says the simplified structure aims to make derivatives more accessible without requiring complex setups.

“Crypto options activity is still a fraction of what it is in traditional markets but the gap is closing as professional and institutional capital continues to move into digital assets.

The existing options market in crypto has been built for a narrow slice of the trader base. Our offering broadens access through a straightforward, dollar-settled contract design that tracks the underlying asset directly, in the same account clients already use for spot and futures.”

Kraken says future phases will broaden availability and add liquidity through order books.

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A long-dormant Bitcoin (BTC) wallet has moved a massive sum after remaining inactive for eight years, according to Arkham.

Data from the blockchain analytics platform shows that the whale address received 5,908 BTC when prices hovered near $16,000 in 2017.

At the time, the Bitcoin stack was worth $99.63 million.

The whale held on to the massive Bitcoin stack even after BTC dropped to around $3,000 in 2018 and even after the largest digital asset by market cap soared to a cycle high of about $69,000 in 2021. The entity still kept the BTC wallet inactive despite Bitcoin’s drop to $15,500 in November of 2022, which briefly placed the position underwater.

The wallet remained inactive after Bitcoin surged to an all-time high of $126,000 in October of 2025. But on Thursday, the whale abruptly moved the massive BTC trove, now valued at roughly $383 million, into a fresh address.

No immediate sale appears to have occurred as the transfer went to an unmarked wallet rather than an exchange.

The move to a newer address format suggests possible custody updates or preparation for private transactions.

Such movements by large holders often signal strategic shifts without triggering immediate selling pressure on public markets.

At time of writing, Bitcoin is trading at $63,800, down more than 1% in the last 24 hours.

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Household debt levels for residents of one major state show a modest decline in the latest annual figures.

The average person in Illinois owed $54,100 in debt in 2025, says USAFacts.

According to USAFacts, the figure represents the total amount owed by individuals with a credit score for obligations such as mortgages, student loans, credit cards and auto loans. USAFacts highlights that on a national level, 80% of individuals have a credit score.

This figure is $745 less than the previous year after adjusting for inflation. Data also shows that the average person in Illinois owed $9,200 less in debt than the average American in 2025.

Zooming in, USAFacts says mortgage debt accounted for about 67.5% of all household debt in Illinois in 2025.

“Mortgages, typically loans taken to purchase homes, are often the largest and longest-term financial commitments for many households. The high cost of housing combined with extended repayment periods (usually five to 30 years) contributes to mortgage debt’s outsized share of overall household debt.”

Looking at the debt-to-income ratio of Illinois residents by county, USAFacts says that Kendall County had the highest debt-to-income ratio in the state of 5.31, indicating that for every $1 of income earned, the average resident in Kendall County would have $5.31 in debt.

Meanwhile, Brown County residents had around $0.26 in debt for every $1 of income, the lowest of any county in the state.

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Corporate insiders have offloaded a massive volume of shares to the tune of tens of billions of dollars in the first six months of the year.

Corporate insiders dumped a total of $77.6 billion in the first half of the year, representing a 20% increase from the same period in 2025, reports The Kobeissi Letter.

This figure ranks as the second-largest in over two decades.

Insider selling outpaced buying by an 11-to-1 ratio, totaling just $6.9 billion over the same period, amid concerns over valuations, geopolitical factors and the sustainability of the massive AI spending.

Say The Kobeissi Letter,

“Corporate insiders are locking in historic gains.”

Despite the massive corporate insider selling, The Kobeissi Letter says Big Tech’s market dominance remains undisputed, as the Technology, Media, and Telecom (TMT) sector now accounts for a record 49% of the S&P 500’s market value.

“This is ~9 percentage points above the 2000 Dot-Com Bubble peak and ~20 percentage points above the late-1960s high.

The tech sector now carries a larger weight than the financials, cyclicals, and defensives sectors combined.

By comparison, TMT accounted for just ~19% of the S&P 500 during the 2008 Financial Crisis.

The US stock market has never been this reliant on tech.”

As of Friday’s close, the S&P 500 is trading at 7,457.

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California YouTube TV subscribers who experienced automatic renewals are poised to have a share in a multimillion-dollar settlement addressing claims the service failed to follow state disclosure rules.

Google LLC and YouTube LLC agreed to the proposed $7.5 million settlement resolving allegations of not fully complying with California’s automatic renewal law.

The lawsuit was launched because the companies allegedly failed to provide required disclosures for the sales of automatically renewing subscriptions for YouTube TV

The complaint claims the violations occurred through YouTube billing for subscriptions renewed between February 1st, 2017, and October 29th, 2021, while class members lived in California.

Excluded from the settlement are subscribers who paid for YouTube TV through iOS-based mobile applications from Apple’s App Store, YouTube TV subscriptions that were cancelled during a free trial and YouTube TV subscriptions that were fully refunded.

Eligible class members enrolled and paid for at least one renewal term during that period may receive an estimated $92.26 on a pro rata basis.

Claims must be filed by August 30th, 2026, and the final approval hearing is set for October 15th, 2026. Those who wish to exclude themselves from the settlement can do so by 11:59 p.m. Pacific Time on or before August 30, 2026.

Payments will be issued approximately 105 days after final approval.

Google and YouTube deny the allegations but agreed to settle to resolve the claims “to avoid burdensome and costly litigation.”

File a claim at the official settlement portal here.

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Scammers have developed a real-time FaceTime bank scam that aims to extract passwords and drain accounts while victims watch helplessly.

The scheme involves contacting targets via video call while scammers masquerade as bank representatives, reports McAfee.

Scammers first contact victims by text or phone, pretending to be from their bank or credit card company and claiming suspicious activity, then switch to FaceTime to watch victims share screens and log in to accounts in real time.

The scheme allows fraudsters to see account numbers, passwords and one-time security codes as they are entered.

McAfee security experts warn that the method allows fraudsters to act quickly before victims realize the deception, with the visual and interactive nature of FaceTime making the ploy especially convincing.

Users are advised never to share screens during unexpected calls and to verify any bank communications through official apps or websites.

Says McAfee:

“Your bank should never ask you to share your screen or reveal one-time authentication codes. If you receive an unexpected call, hang up and contact your bank using the number on the back of your card or through its official app.”

This evolving tactic highlights the need for heightened caution with video-based requests, as banks never ask customers to reveal codes or share screens.

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