Breaking Bad Star's X Account Hacked in $8M Meme Coin Scam

Hodl Topic, January 28th, 2025

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📈 Preview On Today’s News:

1. - Breaking Bad Star's X Account Hacked in $8M Meme Coin Scam

2. - Bybit Launches cmETH with Bonus APR for Ethereum Stakers

3. - DraftKings Reaches Settlement with NFL Players Union Over NFT Dispute

Keep reading below for more!

Today’s News:

1)

Breaking Bad Star's X Account Hacked in $8M Meme Coin Scam

Dean Norris, widely recognized for his role in Breaking Bad, fell victim to hackers who compromised his X (formerly Twitter) account to promote a fraudulent cryptocurrency named DEAN. The hackers used convincing tactics, including a fake token launch announcement, a photoshopped image, and a manipulated video created through the Cameo platform. The scam resulted in the token reaching a market cap of $8.4 million before its collapse to $53,000. Despite Norris reclaiming his account and addressing the hack, many victims had already acted on the fake promotion. This marks the second time his account has been targeted for similar scams, reflecting a troubling trend of cybercriminals exploiting celebrity accounts to deceive crypto investors.

• Hackers exploited Dean Norris' X account, using manipulated media to promote a fake token, DEAN, which briefly reached an $8.4M market cap before crashing.

• Despite Norris regaining control of his account, the incident highlights a recurring trend of scammers targeting celebrity profiles to execute crypto fraud schemes.

2)

Bybit Launches cmETH with Bonus APR for Ethereum Stakers

Bybit has introduced cmETH, a liquid restaking token developed by Mantle Network with the mETH Protocol, to enhance Ethereum staking opportunities. To celebrate its launch, Bybit is offering a limited-time 6% bonus APR for users minting and holding cmETH via its On-Chain Earn service. This innovative token allows users to earn rewards alongside Ethereum’s Proof-of-Stake yields while maintaining liquidity through features like an 80% collateral value ratio and zero fees for swapping between ETH-related tokens. Bybit also provides daily reward credits, streamlined staking with one-click minting, and bonus eligibility based on hourly snapshots of cmETH balances, capped at 50,000 cmETH. Joan Han, Bybit’s Sales and Marketing Director, highlighted cmETH as a transformative addition for greater flexibility and rewards in Ethereum staking.

Additionally, Bybit’s collaboration with Entravel now offers users luxury hotel discounts and crypto-based payment options, further demonstrating the exchange's commitment to integrating cryptocurrency into everyday life and expanding DeFi accessibility.

• Bybit launched cmETH, a liquid restaking token offering a 6% bonus APR, flexible liquidity, and seamless staking options to enhance Ethereum investments.

• Through a partnership with Entravel, Bybit users gain access to luxury hotel discounts and crypto payment options, reflecting its efforts to integrate crypto into daily life.

3)

DraftKings Reaches Settlement with NFL Players Union Over NFT Dispute

DraftKings, the U.S. sports betting platform, has reached a settlement with the National Football League Players Association (NFLPA) over a lawsuit alleging non-payment for using NFL player likenesses in non-fungible tokens (NFTs). The dispute originated from DraftKings ceasing payments under the contract after shutting down its NFT marketplace in July 2023. The parties have requested a 60-day stay to finalize the agreement, with the details of the settlement undisclosed. This development comes just weeks before the upcoming Super Bowl on February 9, 2025.

• DraftKings settled a lawsuit with the NFLPA over claims of non-payment for NFTs featuring NFL player likenesses, following the closure of its NFT marketplace in 2023.

• A 60-day stay was requested to finalize the settlement, with the announcement coming shortly before the February 9 Super Bowl.

4)

Fake Tokens Surge Following DeepSeek AI’s Viral Success

The recent viral success of Chinese AI firm DeepSeek has led to a sharp rise in scam tokens falsely linked to the company, with at least 75 fraudulent tokens created within 24 hours. Scammers have leveraged DeepSeek's popularity, which skyrocketed after its AI app topped the Apple App Store, to deceive investors by mimicking the company’s branding and website. Some fake tokens briefly reached market capitalizations as high as $48 million. DeepSeek has clarified that it has not issued any cryptocurrency, urging users to remain cautious.

• Scammers exploited DeepSeek AI's viral app launch to create at least 75 fake tokens, some reaching market caps of up to $48 million.

• DeepSeek warns it has not issued any tokens and urges vigilance to avoid scams targeting crypto and AI communities.

5)

Tuttle Capital Proposes 10 Leveraged Crypto ETFs Featuring XRP, Solana, and Memecoins

Tuttle Capital has filed with the SEC to launch 10 leveraged crypto ETFs, including 2X Long XRP, Solana, and Litecoin ETFs. These products aim to double the daily performance of their underlying assets, offering high-risk, high-reward opportunities. Notably, this move introduces ETFs for Cardano, Polkadot, and memecoins like TRUMP and BONK, signaling a broader inclusion of volatile assets into mainstream finance. However, regulatory challenges remain, as the SEC's crypto task force evaluates these proposals amidst ongoing scrutiny over market volatility and investor protection.

• Tuttle Capital's proposed leveraged ETFs target popular cryptocurrencies like XRP, Solana, and Litecoin, alongside introducing products for Cardano, Polkadot, and memecoins.

• Regulatory hurdles persist as the SEC's crypto task force reviews the filings, reflecting heightened interest in integrating volatile crypto assets into financial markets.

6)

KuCoin Admits Guilt in $4B Illegal Transactions, Settles for $300M

Crypto exchange KuCoin has pleaded guilty to operating as an unlicensed money transmitter in the United States, processing up to $4 billion in transactions linked to illegal activities. The case, filed by the DOJ in March 2024, culminated in KuCoin agreeing to a $300 million settlement, including fines and civil forfeitures, and ceasing operations in New York. The co-founders, Chun Gan and Ke Tang, will step down, each forfeiting $2.7 million as part of the settlement. This development highlights the growing regulatory scrutiny on crypto platforms under President Trump’s administration, which aims to establish stricter compliance and transparency in the industry.

• KuCoin admitted to unlicensed operations, processing $4 billion in illegal transactions, and agreed to a $300 million settlement, halting operations in New York.

• The co-founders will step down and forfeit $2.7 million each, as U.S. regulators increase efforts to enforce compliance in the crypto sector.

7)

Jupiter Exchange Executes $3 Billion JUP Token Burn

Jupiter Exchange has significantly impacted the crypto market by burning 3 billion JUP tokens, reducing the total supply by 30% and creating a $3 billion market shift. This strategic move, announced at Catstanbul 2025, boosted JUP's price by 6% to $0.97, with trading volumes surging 200% to $1.74 billion within 24 hours. As part of its bold plans, Jupiter also unveiled a buyback strategy funded by protocol fee revenue, with repurchased tokens locked in a reserve for long-term stability, signaling investor confidence. Analysts view this as a step toward enhancing JUP's fundamentals and providing a favorable buying opportunity.

• Jupiter burned 3 billion JUP tokens, cutting supply by 30% and boosting the token's price and trading volume significantly.

• Future plans include a buyback strategy with locked reserves, reinforcing long-term stability and investor confidence.

8)

Ripple CEO Advocates for a Diversified U.S. Digital Asset Reserve

Ripple Labs CEO Brad Garlinghouse has called for the creation of a U.S. digital asset reserve that includes a diverse range of cryptocurrencies rather than focusing solely on Bitcoin or XRP. Highlighting the importance of representing the entire crypto industry, Garlinghouse criticized the maximalist mindset that prioritizes one token over others. His comments follow President Trump's recent statement about evaluating the feasibility of a national digital asset reserve. Despite market speculation, betting platform Polymarket assigns only a 17% probability of Trump approving such a reserve within his first 100 days in office.

• Brad Garlinghouse advocates for a diverse U.S. digital asset reserve, representing multiple cryptocurrencies instead of prioritizing one token like BTC or XRP.

• Polymarket estimates a 17% chance of Trump approving the reserve within his first 100 days, despite growing market speculation.

9)

WazirX to Repay 80% of Stolen Funds After $234M Hack

A Singapore High Court has approved WazirX’s restructuring plan following a $234 million crypto hack in 2024, attributed to North Korea’s Lazarus Group. The plan includes repaying 75–80% of lost customer funds through a structured process, including issuing recovery tokens to affected users, which can be repurchased by the exchange over three years. WazirX has also recovered $3 million in Tether (USDT) and continues collaborating with global authorities to retrieve additional funds.

Despite these efforts, community trust remains low, with critics challenging the prolonged voting process for fund distribution. Many victims, organized in groups like "Justice for WazirX Users," are skeptical of the exchange's ability to deliver on its promises and restore its reputation.

• WazirX’s approved restructuring plan promises 75–80% recovery of stolen funds, including recovery tokens and asset repurchases over three years.

• Community backlash highlights mistrust in WazirX's ability to deliver, with concerns over the lengthy voting process and leadership credibility.

10)

Jim Cramer’s Bitcoin Stance Sparks Debate

Jim Cramer, host of CNBC's Mad Money and often regarded as a contrarian indicator in the crypto community, recently voiced his support for Bitcoin. He encouraged holding Bitcoin in portfolios but advised against investing in MicroStrategy, the largest publicly traded Bitcoin holder. This sparked reactions in the crypto community, with some speculating that Cramer’s endorsement could paradoxically benefit MicroStrategy bulls and Bitcoin bears, as his market predictions often trend opposite to reality.

• Jim Cramer, often seen as a contrarian indicator, endorsed Bitcoin as a portfolio asset while criticizing MicroStrategy as an investment option.

• The crypto community speculates that Cramer’s statements may lead to the opposite outcomes, given his track record of reversed predictions.