Argentina’s President, Javier Milei, is under scrutiny after a cryptocurrency he endorsed on social media crashed, leading to significant losses for investors. On Friday night, Milei shared a tweet promoting a little-known coin, $LIBRA, claiming it would help stimulate the economy and support small businesses in Argentina.
The coin’s value skyrocketed almost instantly, reaching a market cap of $4.4 billion. However, within hours, the cryptocurrency’s value plummeted to under $1, causing heavy financial losses. Many investors, including, saw their investments dwindle by in just a few hours.
Milei quickly deleted the tweet and later explained that he was unaware of the details surrounding the coin before promoting it. He stated that once he became aware of the situation, he removed the post and distanced himself from the project.
The incident raised concerns about a potential “rug pull” scam, where developers artificially inflate the value of a coin before selling off their holdings, leaving investors with worthless tokens. Despite the crash, the coin still holds a market value of $250 million.
According to Reuters, opposition lawmakers in Argentina have suggested that Milei could face an impeachment trial in Congress over the incident, while the country’s fintech chamber acknowledged the possibility of foul play.
The case has drawn attention not only to Milei’s involvement but also to the broader risks of cryptocurrency investments, stressing how quickly the market can turn from hype to disaster.
#MileiMemeCoinControversy #Libratoken #SCAMalerts #scamriskwarning

India’s Enforcement Directorate (ED) has made a breakthrough in the BitConnect cryptocurrency fraud case, seizing $190 million worth of crypto assets. The crackdown comes years after BitConnect, a Ponzi scheme that started in 2016, defrauded investors worldwide, leading to the collapse of its token from $521 to just $1.
India’s ED Seized $190 Million In Crypto
On February 15, the ED in Ahmedabad released a statement confirming the seizure of digital assets worth approximately Rs 1,646 crore ($190 million). This action was taken under the Prevention of Money Laundering Act (PMLA) following First Information Reports (FIRs) filed by the CID Crime Police Station in Surat.
Along with cryptocurrency, authorities seized $15,582 in cash, a luxury SUV, and several digital devices during raids conducted in Gujarat.
The ED discovered that BitConnect’s operators had created a web of transactions using multiple crypto wallets. However, through advanced tracking techniques and intelligence gathering, investigators identified the key wallets and their controllers, leading to the recent crackdown.
Background of BitConnect Fraud
BitConnect, which operated as an unregistered entity, established a vast network of promoters who earned commissions by recruiting new investors. The platform’s founder, Satish Kumbhani, was charged by the U.S. Department of Justice in February 2022 for masterminding the fraud.
Under his leadership, BitConnect managed to collect a staggering $2.4 billion before shutting down in 2018, following cease-and-desist orders from U.S. regulators.
With the ED’s ongoing investigation and the recent seizure of assets, authorities are ramping up efforts to bring the culprits to justice.
#IndianCryptoTrends #write2earnonbinancesquare #Bitconnect #ScamAwareness #SCAMalerts

Hey everyone! 🧐 If you're in the crypto space, you know how important *security* is. Well, here’s something *serious* that’s been going around lately: *Crypto scammers* using *fake pop-ups* to steal your ### Wallet *seed phrases*! 😱

*What’s Happening?*

Scammers are getting *sneaky* with their tactics. They’re sending you *fake pop-ups* that appear to be official messages from ### Wallet, asking you to *enter your seed phrase* or *private key* for “security purposes” or “account verification.” 🚫 This is *NOT* legitimate! These pop-ups are designed to *trick you* into revealing your private keys so they can access your wallet and steal your crypto! 💸

*How Do You Stay Safe?*

1. *Never Share Your Seed Phrase* 🛑
- Your seed phrase is the key to your wallet. If someone asks you for it (even if they sound official), it’s a *scam*! *No legitimate service will ask for it.*

2. *Be Wary of Pop-Ups* 💥
- *Always check* the source of any pop-up or message you receive. Official wallets will *never* send you unsolicited pop-ups asking for sensitive information.

3. *Use Two-Factor Authentication (2FA)* 🔐
- Protect your crypto accounts with *2FA* to add an extra layer of security.
4. *Check Website URLs* 🕵️‍♂️
- Always double-check the website you’re visiting to ensure it’s *official*. A *scammer’s website* might look very similar to the real one, but there will usually be small differences.

5. *Don’t Click on Suspicious Links* ⚠️
- If you get a message or email with a *link*, *do not click it* unless you're absolutely sure it's from a trusted source.

---

*The Bottom Line*

*Crypto safety* should always be your *top priority*! These scammers are getting *smarter*, but with a little awareness, you can *avoid their tricks* and keep your ### Wallet and assets safe. 🚀💪

Stay safe out there and *don’t fall for the pop-up trap*! ⚡

$BTC
$ETH
$BNB

#CryptoSecurity #SCAMalerts #SeedPhraseSafety #cryptotipshop #StaySafeCryptoCommunity

In a major crackdown, Assam police have arrested 38 people across the state in connection with a massive ₹2,200 crore online trading scam that ran for nearly three years. The scam, masterminded by 22-year-old Bishal Phukan from Dibrugarh and his associate Swapnanil Das from Guwahati, lured investors by promising to double their money within 60 days.

The scam began by returning small profits to investors, with interest rates as high as 30-50%, but stopped once larger sums started pouring in. Many investors even took loans of ₹10-15 lakh to invest, only to be defrauded.

Assam's Chief Minister Himanta Biswa Sarma urged the public to avoid fraudulent schemes, advising them to stick to authorized stockbroking through demat accounts. "No one can offer 25-30% interest; these are traps," he said, urging vigilance.

Phukan and Das flaunted a lavish lifestyle, attracting police attention with high-end cars, luxury properties, and social media posts from foreign trips. The police are also investigating actor-choreographer Sumi Borah, who allegedly received expensive gifts from Phukan, including a grand wedding at a Rajasthan resort.

#BinanceLaunchpoolHMSTR #ScamAware #SCAMalerts t #BinanceLaunchpoolHMSTR #BinanceLaunchpoolCATI $DOGS
$SOL
$PEPE

The collapse of Terra ($LUNA ) stands as one of the most devastating events in cryptocurrency history. In a single day, over $40 billion was wiped from the market, leaving millions of investors reeling from unprecedented losses. What led to this catastrophic failure? Here’s a detailed breakdown of Terra’s downfall and the crucial lessons every crypto investor must understand.

The Rise of Terra and Its Algorithmic Stablecoin
The Terra blockchain aimed to revolutionize digital payments through its UST algorithmic stablecoin, which was designed to maintain a $1 peg. Unlike traditional stablecoins backed by reserves (such as USDT or USDC), UST relied on an algorithmic mechanism involving LUNA to stabilize its value.
The concept was simple:
1 UST could always be exchanged for $1 worth of LUNA, regardless of market conditions.
This dynamic arbitrage was supposed to ensure UST's stability while also supporting LUNA’s value.

The Death Spiral: How Terra Collapsed
1. A Fragile Mechanism
The interdependence of UST and LUNA created an inherently unstable system. When market stress emerged, the stabilization mechanism backfired, accelerating the crash instead of preventing it.
2. The Trigger
In May 2022, UST began losing its peg due to massive withdrawals from Anchor Protocol, a DeFi platform that promised high yields on UST deposits. This exodus sparked panic and intense selling pressure, leading to:
Depegging: UST fell below $1.
Minting Overdrive: The algorithm attempted to stabilize UST by minting enormous amounts of LUNA, flooding the market.
3. The Domino Effect
As LUNA’s supply ballooned, its price plummeted. UST’s value continued to collapse, eventually dropping to $0.10, while LUNA’s price plunged from $80 to $0.0001 within days.

The Aftermath: $40 Billion Vanishes
Market Impact: Terra’s combined market cap of $40 billion was wiped out almost overnight, as major exchanges delisted both tokens.
Investor Losses: Millions of retail and institutional investors suffered massive financial losses, with many left holding worthless tokens.
Do Kwon’s Response: Terra’s founder, Do Kwon, initially dismissed concerns with bold reassurances. However, his subsequent efforts to recover the project—such as forking the blockchain—failed to regain trust.

Legal Fallout and Arrest of Do Kwon
The collapse triggered:
Regulatory Scrutiny: Governments and regulators launched investigations into possible fraud and market manipulation.
Lawsuits: Class-action lawsuits against TerraForm Labs and Do Kwon piled up.
Arrest: After months on the run, Do Kwon was arrested in March 2023 in Montenegro, carrying a forged passport. His detention marked a significant moment in the legal reckoning surrounding Terra’s collapse.

Lessons for Crypto Investors
1. Beware of Overly Complex Mechanisms
Algorithmic stablecoins, while innovative, come with significant risks. Terra’s reliance on arbitrage and minting mechanisms proved to be its undoing.
2. Diversify and Manage Risk
Never put all your investments in a single project, no matter how promising it seems. Diversification is key to mitigating risk in volatile markets.
3. Monitor Red Flags
High-yield platforms like Anchor Protocol should be approached with caution. Unrealistic returns often come with hidden risks.
4. Stay Updated on Regulations
The Terra collapse highlights the importance of regulatory oversight in protecting investors from systemic risks and fraudulent schemes.

Conclusion: A Defining Moment for Crypto
The Terra (LUNA) collapse was a watershed moment for the cryptocurrency industry, exposing vulnerabilities in algorithmic stablecoins and high-risk DeFi platforms. While the industry has learned hard lessons, the incident also underscored the need for transparency, regulation, and investor education.
As the crypto landscape evolves, understanding events like Terra’s downfall is essential for navigating this volatile market responsibly. Stay informed, diversify wisely, and never ignore the warning signs.