In a comprehensive review of recent crypto-related developments, Singapore has taken decisive action to block access to Polymarket, a cryptocurrency-based prediction market. This move is part of a broader initiative to regulate unlicensed gambling platforms, aligning with the Gambling Control Act 2022. Under this legislation, Singaporeans accessing such sites risk facing fines and potential imprisonment, with Singapore Pools currently remaining the sole licensed operator in the region.
Meanwhile, in the United States, New York Attorney General Letitia James has filed a lawsuit aiming to recover over $2 million in cryptocurrency defrauded from victims. These individuals were lured by scammers with promises of high-paying remote jobs, only to have their funds stolen through deceptive crypto transactions. The AG’s office, with support from the US Secret Service, has succeeded in freezing the stolen assets.
In another notable incident, Litecoin’s X social media account was compromised. The hack led to the promotion of a fake Litecoin token on the Solana network, involving fraudulent links and token contract addresses. Although the Litecoin team has regained control of the account, the breach represents an ongoing vulnerability trend within social media platforms associated with crypto projects.