Author: Simran Mishra

Abracadabra Raises Borrowing Costs and Halts Rewards as MIM Recovers From a 51% Price Crash Abracadabra has rolled out emergency measures after its Magic Internet Money (MIM) stablecoin suffered a sharp drop and lost its dollar peg. The DeFi lending platform is now taking several steps to bring the token back toward its intended value of $1. The trouble started earlier this month when the MIM stablecoin slipped to around $0.74. Although the token briefly recovered and traded close to $0.89, the improvement did not last. Selling pressure increased across the market, pushing MIM down to nearly $0.49. Abracadabra Launches…

CBI Probe Reveals Fake Supreme Court Website, Shell Firms and Mule Accounts Behind Digital Arrest Scams: CBI Launches 80+ and Raids in 16 States The Central Bureau of Investigation (CBI) carried out a massive operation across the country on Thursday as part of its investigation into a digital arrest scam network. Under Operation Chakra VI, the agency searched more than 80 locations across 16 states and formed 60 special teams to conduct the raids. The action comes as the CBI steps up efforts to break the network behind more than 200 digital arrest scam cases reported in different parts of…

GTA 6 Scam Warning: Fake Sites Mimic Rockstar as Crypto Payments and AI Tricks Target Millions Scammers have started new Fake GTA 6 crypto scams to target gamers before the preorder launch. These scams use the hype around Grand Theft Auto VI to trick people into sending cryptocurrency. Fake websites now copy the design and branding of Rockstar Games. These sites look real and show offers like early access or VIP game downloads. These offers sound exciting, but they are completely fake. How the GTA 6 Scam Works Rockstar Games has already confirmed that no early access program exists. The…

India to Track Real Owners in Crypto Deals as FIU Mandates Reporting, Tightening AML Checks from 2026 India has increased its oversight of crypto transactions as the Financial Intelligence Unit (FIU) of India asked exchanges to report large OTC deals. The rule applies to over-the-counter crypto trades above $10,000, which equals around Rs. 9.4 lakh. This step shows that regulators want better visibility into large crypto movements. Exchanges must now share details about who actually owns and controls the funds involved in these deals. Authorities focus on identifying the real people behind companies, intermediaries, and other entities. New Reporting Rules…

WinProFX Scam Probe Expands as Fake Profits, 1.93 Lakh Users and Global Links Come Under Scanner A major breakthrough for Indian police in the WinProFX scam investigation! They have arrested a 26-year-old engineer, linked to the Rs. 19 lakh fraud. The case shows how fast crypto fraud in India is spreading across the country. The case was first opened after a Gujarat investor reported a loss of more than Rs. 19 lakh. The victim invested money through a USDT investment scam after watching forex trading videos online. These videos promised high returns and easy profits. Fake Profits Used to Gain…

Bitcoin Struggles Near $65K as ETF Outflows Hit $4.6B and Liquidity Weakens Across Crypto Markets Crypto institutional flows have turned negative, showing a clear shift in market sentiment. Around $8 billion has left the market in the past 30 days. This large exit shows that big investors are becoming more cautious. The trend looks different from late 2025, when inflows only slowed down. The current situation shows real institutional outflows, which signals weaker confidence in the market. Analysts believe this shift could affect prices and liquidity in the near term. Institutional Investors Turn Cautious Bitcoin price has also reacted to…

Bengaluru Hacker Case Exposes Rs. 2 Crore Cyber Extortion Using Poker Hacking and Crypto Fraud: ED Tightens Action The Bengaluru hacker case has taken a serious turn as the Enforcement Directorate opposed the bail request of businessman Sunish Hegde. The agency said Hegde worked with hacker Srikrishna, also known as Sriki, in a Rs. 2 crore cyber extortion plan which also has a crypto link. Officials said Hegde asked Sriki to hack online poker websites and then use the data to demand money. The hacker reportedly broke into platforms like PokerSaint and PokerBaazi during the operation. After the hack, Hegde…

Ethereum Faces Upgrade Risks as Leadership Void Grows, Key Projects Like Danksharding Hang in Balance The leadership crisis at the Ethereum Foundation has grown stronger after Hsiao-Wei Wang resigned from her role. Her exit adds to a series of senior departures this year. Hsiao-Wei Wang worked as co-executive director and board member for almost ten years. She shared her decision after returning from a break, reflecting on her personal goals. Her resignation took effect immediately, leaving the organization without a permanent leader in that position. Leadership Vacuum Deepens Earlier this year, Tomasz Stańczak also stepped down from the same role.…

India Tightens Crypto OTC Rules, Flags Deals Above $10K for Transparency India has decided to closely monitor crypto OTC trading to strengthen control over shadow trading. The Financial Intelligence Unit has asked big crypto exchanges to share details of OTC deals above $10,000. OTC trading happens outside regular exchanges, where buyers and sellers deal directly. These trades help large investors avoid price changes in the open market. At the same time, these deals often hide important details about who owns the money. Regulators Seek More Transparency Regulators now want clear information on beneficial ownership, especially when private companies take part…

Indian Crypto Shift Deepens as 70% Limit Exposure, Small Cities Drive 40% of User Growth Indian crypto traders are showing more patience during market volatility, according to a new Mudrex survey. The report shows that most investors now think carefully before making any decision. The survey, conducted across India, found that 91% of Indian crypto traders do not panic when prices rise or fall sharply. Only a small group, around 9%, reacts quickly by selling or chasing trends. Investors Stay Calm During Market Swings Most investors now prefer to stay calm. They either adjust their investments slowly or wait before…