Crypto
Binance Founder CZ Calls for Industry-Wide Action After $50 Million Address Poisoning Scam
Binance co-founder Changpeng Zhao has urged the crypto industry to adopt unified defenses against address poisoning scams following a $50 million theft involving a single mistaken transaction. The incident, which occurred on December 20, highlights how even experienced traders remain vulnerable to increasingly sophisticated wallet manipulation tactics.
Address poisoning is a form of phishing that exploits how crypto wallets display shortened addresses. By mimicking the first and last characters of a legitimate address, attackers trick users into sending funds to fraudulent destinations that appear familiar at a glance.
How the $50 Million Scam Unfolded
According to on-chain data, the victim began with a standard precaution: a small test transfer. On December 20, the trader sent 50 USDT to what they believed was the correct address. Twenty-six minutes later, confident the destination was verified, they transferred 49,999,950 USDT.
Unbeknownst to the sender, the second transaction went to a scammer-controlled address. The fraudulent address matched the first five and last four characters of the intended destination, differing only in the middle portion—exactly the segment most wallets hide behind ellipses.
This visual similarity allowed the attacker to exploit common user behavior, where traders confirm only the beginning and end of an address rather than the full string.
After receiving the funds, the attacker quickly converted the stolen USDT into DAI, then swapped it for approximately 16,690 ETH. The ETH was later deposited into Tornado Cash, a privacy protocol frequently used to obscure transaction trails. The victim subsequently offered a $1 million on-chain bounty in an attempt to recover the funds.
CZ’s Proposal to Stop Address Poisoning
In response to the incident, Changpeng Zhao proposed three industry-wide countermeasures designed to reduce address poisoning risk across wallets and platforms.
First, Zhao called for automatic detection of suspected poison addresses within wallets. These systems would flag addresses that closely resemble previously used destinations and warn users before transactions are signed.
Second, he suggested real-time sharing of blacklisted scam addresses across the industry. A coordinated database could allow wallets and exchanges to instantly recognize known malicious addresses and alert users.
Third, Zhao recommended filtering spam transactions from wallet histories. Since attackers often seed wallet activity with fake transactions to create misleading address records, hiding or isolating these entries could significantly reduce the effectiveness of poisoning attempts.
Binance Wallet already implements warnings for suspected poison addresses, but Zhao emphasized that isolated solutions are not enough. Address poisoning, he argued, requires a collective response across the crypto ecosystem.
Why Address Poisoning Is a Growing Threat
The incident underscores a broader trend in crypto-related crime. Phishing attacks were the most costly category of crypto theft in 2024, according to blockchain security firm CertiK. Attackers stole more than $1 billion across 296 phishing incidents that year alone.
In 2025, address poisoning accounted for over 10% of wallet drain incidents, reflecting both its effectiveness and ease of execution. The technique does not rely on smart contract vulnerabilities or malware, making it harder to detect with traditional security tools.
One notable case in May 2024 involved a victim who lost $68 million worth of wrapped Bitcoin through address poisoning. In that instance, the attacker eventually returned the funds after pressure from investigators, but such outcomes remain rare.
The Bigger Picture for Crypto Security
Total cryptocurrency theft reached an estimated $3.4 billion in 2025, reinforcing the urgency of improving user-level protections. As self-custody adoption grows, so does the responsibility placed on individuals to verify transactions accurately.
Address poisoning highlights a fundamental usability issue in crypto wallets: human-readable shortcuts can create dangerous blind spots. Without better safeguards, even cautious users can make irreversible mistakes in seconds.
Changpeng Zhao’s call for industry-wide standards reflects a growing consensus that security must evolve alongside adoption. Preventing address poisoning will likely depend not only on better tools, but on collaboration across wallets, exchanges, and blockchain infrastructure providers.
As crypto continues to move toward mainstream usage, reducing preventable losses may prove just as important as advancing new technologies.
Crypto
ChimpX AI Announces Final Pre-Sale of SuperApp on BNB Chain: Grab $CHIMP at $0.25 Before February Listing
As the broader cryptocurrency market begins its much-anticipated structural recovery, the window is rapidly closing for investors to gain early-stage exposure to one of the year’s most significant “DefAI” projects. ChimpX AI has officially entered its final pre-sale phase on the AlphaMind launchpad, offering the global community a final chance to acquire the $CHIMP token at a strategic valuation before it transitions to public trading on PancakeSwap later this month.
The timing of this launch is critical. Following a turbulent start to 2026, Bitcoin and BNB are signaling a definitive reversal. As capital rotates back into utility-driven ecosystems, ChimpX AI is positioning itself as the premier “SuperApp” for the BNB Chain. This final pre-sale round on AlphaMind is not merely a fundraising event; it is the final gate before the protocol enters the open market with a functional product and a rapidly growing user base.
The AlphaMind Advantage: A Strategic Entry Point
The AlphaMind round is specifically structured to reward early conviction. Following sold-out IDOs on premier platforms like SPORES and Poolz Finance, ChimpX AI has reserved this final allocation for retail participants at a price point of $0.25 per token. With a $4 million Fully Diluted Valuation (FDV) at the pre-sale level, $CHIMP represents a rare opportunity to enter a high-utility infrastructure project before the typical “listing volatility” associated with top-tier DEX launches.
Furthermore, the round features a 25% unlock at the Token Generation Event (TGE). For participants, this provides a significant liquidity advantage, allowing them to benefit from the initial market momentum immediately upon the PancakeSwap listing.
Mojo: The Tech Driving the Hype
The frenzy surrounding the $CHIMP pre-sale is driven by the successful launch of the Mojo SuperApp (available at app.chimpx.ai). Unlike many speculative AI projects that offer “vaporware,” ChimpX AI has delivered a working product that addresses the biggest barrier to DeFi: Gas Fees.
By integrating Account Abstraction on the BNB Chain, Mojo allows users to trade, lend, and manage assets without ever needing to hold gas tokens. This “invisible blockchain” experience—where the complexity of Gwei and gas limits is abstracted away by AI—is widely considered the “Holy Grail” for retail onboarding in 2026.
Countdown to PancakeSwap
The urgency for the AlphaMind round is high, as the project prepares for its primary listing on PancakeSwap in February. Market analysts note that similar AI-driven DeFi projects on the BNB Chain have seen massive price discovery post-listing, especially when backed by a functional product.
Investors can participate by visiting https://app.alphamind.co/ido/6989a7df51f2ab92207ec335?invite=rmzD-2dY
The process is streamlined to allow for quick commitments with a maximum ticket size of $15,000 per wallet.
Official Ecosystem Links:
- SuperApp: app.chimpx.ai
- Website: www.chimpx.ai
- Telegram: https://t.me/chimpxofficial.
Crypto
What Drives XRP Price? Ripple Insider Highlights Liquidity Over Hype
Greg Kidd, an early executive at Ripple and a long-time figure in the cryptocurrency space, has shared fresh insights into what truly drives XRP’s long-term relevance. Rather than focusing on short-term price fluctuations, Kidd argues that liquidity and supply dynamics are the most critical factors determining XRP’s role and sustainability within the global financial system.
According to Kidd, XRP’s value proposition lies in its ability to function efficiently within payment infrastructure, not in speculative price movements. He believes that without deep and reliable liquidity, XRP cannot fully perform its intended purpose, regardless of how high its market price may rise.
Early XRP Investment Reflects Long-Term Conviction
Kidd revealed in a past interview that he still holds a substantial XRP position, having acquired roughly 1% of the total XRP supply more than five years ago. This investment predates the wave of institutional adoption and modern crypto market infrastructure, underscoring his long-standing confidence in XRP as a financial utility rather than a speculative asset.
His early involvement gives him a rare, long-term perspective on how real value is created within blockchain ecosystems. Kidd views XRP as a tool designed to solve liquidity challenges in global finance, not simply as a vehicle for price appreciation.
XRP’s Role as a Bridge Asset in Ripple’s Ecosystem
Kidd emphasized that XRP’s primary function is to act as a bridge asset within Ripple’s payment network. While Ripple builds enterprise-grade systems for cross-border transfers, XRP enables seamless movement of value between different fiat currencies.
He noted that XRP’s effectiveness is independent of Ripple’s corporate performance. Instead, the token’s strength lies in its ability to provide fast, cost-efficient liquidity across markets, making it suitable for large-scale transactional use.
Liquidity Matters More Than Price
A key takeaway from Kidd’s commentary is that liquidity outweighs price when it comes to XRP’s utility. High liquidity allows participants to move in and out of positions quickly, with minimal slippage—an essential requirement for institutional and cross-border payment use cases.
Kidd explained that even if XRP’s price increases, a lack of deep and efficient markets would limit its usefulness. In contrast, strong liquidity enables XRP to function as a reliable transactional instrument within the global payments ecosystem.
Supply, Demand, and Long-Term Price Potential
While liquidity is central to XRP’s role, Kidd acknowledged that supply constraints and rising demand naturally influence price over time. As adoption grows and markets mature, increased demand relative to available supply could support long-term price appreciation.
However, he stressed that any meaningful upside would be driven by real usage and sustained participation rather than speculation. In his view, price growth should be a byproduct of utility, not the primary objective.
Ripple’s Vision for Blockchain-Based Banking
Beyond XRP, Kidd has shared a broader vision for Ripple’s role in transforming traditional finance. Speaking at the XRP Las Vegas conference in June 2025, he suggested that blockchain technology could modernize legacy banking systems and integrate traditional institutions into decentralized networks.
In his current role as CEO of Vast Bank, Kidd is working on issuing FDIC-insured U.S. dollar tokens on the XRP Ledger. These tokens operate under a fractional-reserve model and aim to deliver capital efficiency, interest generation, regulatory protection, and 24/7 cross-border payment capabilities. He also plans to expand this framework to other currencies, including the British pound and the euro.
Conclusion
Greg Kidd’s perspective reinforces the idea that XRP’s long-term success depends far more on liquidity, structured adoption, and real-world utility than on short-term price action. While price appreciation may follow as markets deepen, Kidd believes XRP’s true value lies in its ability to function as a reliable bridge asset within a modernized global financial system.
Crypto
Supreme Court Decision Expands Crypto Seizure Powers in South Korea
South Korea’s Supreme Court has delivered a landmark ruling that significantly reshapes how cryptocurrency is treated under criminal law. In a historic decision dated December 11, 2025, and made public in early 2026, the court ruled that Bitcoin held on domestic cryptocurrency exchanges can be legally seized during criminal investigations under the Criminal Procedure Act.
The ruling brings long-awaited clarity after years of legal uncertainty surrounding whether digital assets qualify as seizable property in criminal cases. The case stemmed from a police investigation into alleged money laundering, during which authorities seized 55.6 Bitcoin from an individual’s account on a local cryptocurrency exchange. The defense argued that Bitcoin, being intangible, could not be classified as property subject to seizure. However, the Supreme Court firmly rejected this argument.
In its reasoning, the court explained that “seizable property” under the Criminal Procedure Act is not limited to physical assets. Instead, it also includes electronic data and other forms of property that hold economic value. The justices concluded that Bitcoin meets these criteria, describing it as an electronic asset that can be independently managed, traded, and economically controlled. As a result, it can be confiscated when legal conditions are satisfied.
The ruling further confirmed that digital assets stored in custodial exchange wallets—such as those operated by major Korean platforms—fall within the scope of lawful seizure. This interpretation aligns with previous judicial views in South Korea, which have already recognized virtual assets as non-tangible property with real economic value.
Implications for Law Enforcement and Crypto Exchanges
This decision is expected to significantly strengthen prosecutorial powers in crypto-related criminal cases, particularly those involving money laundering, fraud, or the concealment of illegal proceeds through digital assets. By resolving a long-standing legal debate, the ruling removes a major obstacle that previously complicated enforcement actions involving exchange-held cryptocurrencies.
Legal experts note that the decision is consistent with South Korea’s broader regulatory stance on digital assets. Over the past year, authorities have increased scrutiny of the crypto sector and imposed penalties on several exchanges for violations related to anti-money laundering compliance.
While the ruling does not directly impact lawful users of cryptocurrency, it is likely to encourage exchanges to enhance their cooperation with law enforcement agencies. This may include faster response mechanisms, improved asset-freezing procedures, and stronger internal compliance systems to meet legal obligations.
Overall, the Supreme Court’s decision marks a major step forward in the legal treatment of virtual assets in South Korea. By clearly stating that Bitcoin held on exchanges is subject to seizure under criminal law, the ruling provides much-needed guidance for investigators and prosecutors. As the crypto landscape continues to evolve, this precedent is expected to play a critical role in shaping future enforcement practices within South Korea’s digital asset ecosystem.
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