Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. VC Partner Hit by Zoom Scam: Mehdi Farooq of Hypersphere lost six wallets and years of savings in a phishing attack via a fake Zoom call.

2. Nobitex Source Code Leaked: Hacker group Gonjeshke Darande leaked the full source code of Iranian exchange Nobitex after a $100M exploit.

3. CZ Pushes for Crypto Wills: Binance founder CZ urged exchanges to implement inheritance tools so users can pass crypto to heirs.

4. 💡Feature of the Day - Trump Urges Stablecoin Bill Passage: Trump called for immediate passage of the GENIUS Act, a stablecoin regulation bill ensuring full-reserve backing, AML compliance, and licensing.

   
   All this and more in today’s headlines!

📰 News Highlights:

VC Partner Scammed [Source][Source][Source][Source]

Mehdi Farooq, a partner at crypto VC firm Hypersphere, lost six wallets and what he called “years of savings” during a phishing attack via a fake Zoom call.

The scam started with a Telegram message from someone impersonating Alex Lin, a known contact.

After switching to a Zoom link “for compliance reasons,” Farooq was instructed to update Zoom due to audio issues.

That update led to his laptop being compromised and his wallets drained. The attacker even continued chatting on Telegram during the theft.

Farooq later discovered Lin’s account was hijacked and attributed the attack to the North Korean group “dangrouspassword.”

🎁Freebie:

Download your free ebook now and take the first step toward mastering CRYPTO IN UNDER 60 MINS!

Nobitex Code Leaked [Source][Source][Source][Source]

The hacking group “Gonjeshke Darande,” claiming to support Israel, released the full source code of Iranian crypto exchange Nobitex after exploiting the platform for $100 million.

The attackers, who alleged Nobitex had ties to Iran’s government and violations of international sanctions, posted the platform’s internal files and privacy settings.

The exploit occurred during escalating conflict between Israel and Iran, with stolen funds distributed to burner addresses — effectively destroying most of them.

Security experts believe the hack was politically motivated rather than financially.

Nobitex confirmed the leak but stated that no further funds had been lost and services should be restored within five days.

CZ Pushes Crypto Wills [Source][Source][Source][Source]

Binance founder Changpeng “CZ” Zhao has urged crypto platforms to implement a “will function” to let users designate heirs for their assets.

In a recent X post, CZ emphasized that platforms must prepare for user deaths by enabling automatic inheritance mechanisms.

Binance has already rolled out an emergency contact and inheritance feature, notifying emergency contacts after prolonged account inactivity.

The crypto community largely welcomed the update, with some pointing out that unclaimed crypto assets exceed $1 billion annually.

💡 Feature of the Day: 

Trump Backs Stablecoin Bill [Source][Source]

President Donald Trump has called for the rapid passage of the GENIUS Act, a stablecoin regulation bill, urging the House to send it to his desk “ASAP.”

The Senate passed the bill with bipartisan support in a 68–30 vote.

If enacted, the bill would establish strict guidelines for USD-pegged stablecoins, including full reserve backing, anti-money laundering compliance, and federal or state licensing.

😂 Crypto Meme of the Day: 

Meme of the day provided by @finance_god

And that’s it for this today.

See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com