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Today's Top Crypto Headlines:
Fake Trump Token | Coinbase Agent Breach | $263M Crypto Heist and more...
King Fatrick Gil Añasco
May 16, 2025
Good Morning Crypto Enthusiasts!
Glad to have you back for another edition of the UseTheBitcoin.com newsletter.
Fake Trump Token Raises Red Flags: A memecoin themed after Eric Trump spiked 6,200% to a $140M market cap on Solana’s Pump.fun, but analysts flagged suspicious wallet concentration.
Coinbase Agents Breached by Scammers: Coinbase fired Indian contractors accused of leaking user data to cybercriminals, aiding phishing scams.
💡Feature of the Day - DOJ Charges 12 in $263M Crypto Heist: The DOJ indicted 12 people in a $263M crypto theft ring that stole 4,100 BTC from one victim.
All this and more in today’s headlines!
📰 News Highlights:
A memecoin named after Eric Trump surged 6,200% in a single day after launching on Solana’s Pump.fun platform, reaching a $140M market cap.
a rug in the making
#ERICTRUMP is currently trending on most platforms. avoid it.
— Bubblemaps (@bubblemaps)
10:47 AM • May 16, 2025
However, blockchain analysts and Bubblemaps flagged suspicious activity, noting that 10 major crypto wallets held most of the supply, which resembles past rug-pull patterns.
and... it's gone
— Bubblemaps (@bubblemaps)
1:49 PM • May 16, 2025
Bubblemaps warned that this memecoin is a “rug in the making,” citing previous failed tokens created by the same deployer on Pump.fun.
🎁Freebie:
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Coinbase has reportedly fired a group of Indian-based customer service contractors who were allegedly bribed by cybercriminals to gain access to user data.
was likely victim of this data breach. got a number of calls from scammers pretending to be coinbase. the scam roughly goes like this
1) they text/call u to tell u ur coinbase account got compromised
2) pretend to do a bunch of a personal info verification, including how much— qw (@QwQiao)
12:22 PM • May 15, 2025
These compromised agents contributed to phishing attacks, where scammers posed as Coinbase reps and requested fund transfers.
Cyber criminals bribed and recruited rogue overseas support agents to pull personal data on <1% of Coinbase MTUs. No passwords, private keys, or funds were exposed. Prime accounts are untouched. We will reimburse impacted customers. More here: coinbase.com/blog/protectin…
— Coinbase 🛡️ (@coinbase)
10:49 AM • May 15, 2025
Victims like Qiao Wang were nearly tricked into draining their wallets, showing how severe the internal breach became.
We will pursue the harshest penalties possible and will not pay the $20 million ransom demand we received. Instead we are establishing a $20 million reward fund for information leading to the arrest and conviction of the criminals responsible for this attack.
— Coinbase 🛡️ (@coinbase)
10:49 AM • May 15, 2025
Coinbase’s chief security officer stated that this incident could cost the company up to $400 million.
@coinbase@brian_armstrong i know u r going to reimburse customers who lost money to these scams, but i hope u understand that if info like address and photo id is indeed leaked, personal security is worth way than loss of funds.
— qw (@QwQiao)
1:10 PM • May 15, 2025
💡 Feature of the Day:
Twelve additional suspects have been charged by the DOJ in a cybercrime ring responsible for stealing over $263 million in cryptocurrency, including 4,100 Bitcoin from one victim.
The group, mostly young Californians aged 18–22, allegedly began as gamers before forming a hacking syndicate involved in database breaches, phishing, and physical thefts targeting crypto wallets.
The operation included hacking iCloud accounts, surveilling victims, and breaking into homes to steal hardware wallets.
😂 Crypto Meme of the Day:
Meme of the day provided by @Thethrillq
And that’s it for this today.
See you all tomorrow’s edition!
Jonathan Gibson
UseTheBitcoin.com