Honeypot scams lure crypto investors into buying tokens they can’t sell, locking their funds through smart contract tricks. Honeypot scams lure investors with fake liquidity, price movement and hype, but the contracts are rigged to prevent exits, locking funds permanently. Modern honeypots include tampered cold wallets sold via platforms like TikTok, preloaded with private keys that scammers use to steal funds instantly. Variants like high sell tax honeypots and “honeypot-as-a-service” kits make it easier than ever for scammers to target even experienced users. Read more
Bitcoin ASIC maker Canaan has launched pilot production in the US and dropped its AI chip business, signaling a strategic pivot to core crypto operations. Bitcoin mining application-specific integrated circuit (ASIC) manufacturer Canaan has completed a pilot production run in the US and abandoned its AI hardware manufacturing efforts. In a statement sent to Cointelegraph on Monday, a Canaan representative said it “has successfully completed a pilot production run in the US,” replicating its Malaysia-based operations. Canaan also announced the discontinuation of its AI semiconductor business in what it said is “a strategic realignment aimed at sharpening its focus.” “I believe that doubling down on our core strengths in crypto infrastructure and Bitcoin mining is the most strategic path forward for Canaan,” said Nangeng Zhang, chairman and CEO of Canaan. Read more
Long-term Bitcoin holders now control a record 14.53 million BTC, tightening supply as institutional demand rises despite geopolitical tensions. Key takeaways: Bitcoin’s volatility has fallen below major US stock indexes, even amid escalating Iran–Israel tensions. Long-term holders now control a record 14.53 million BTC, reducing the circulating supply. Read more
Trezor warned of ongoing phishing attempts exploiting its support contact form. Hardware wallet producer Trezor warned users about an ongoing phishing campaign that mimics the company’s official customer support replies. In a Monday X post, Trezor warned that the firm is aware “attackers abused our contact form to send scam emails appearing as legitimate Trezor support replies.” The company reminded its customers not to share wallet backups, noting that they should always be kept “private and offline.” Trezor said it “will never ask for your wallet backup,” confirming that the emails may appear as legitimate but are not. Read more
The savvy Bitcoin investor made a 496-fold return on his initial $60,000 investment in 2013. A savvy Bitcoin holder has bagged nearly $30 million of profit after patiently holding their BTC holdings for over a decade, highlighting the long-term investment potential of the digital asset. The unknown investor sold 300 Bitcoin (BTC) for $29.8 million on Sunday after holding the coins for more than 11 years, according to Whale Alert. The investor reportedly purchased the coins for about $60,000 in 2013, meaning they made more than $29 million in profit. Read more