Good morning troops,Feeling fresh and ready for whatever this week throws at us?Or are you wondering what happened to the weekend?

Well, regardless, it’s Monday; let’s get cracking!

• ⛏️ KuCoin’s Twitter Account Hacked

• 🇨🇳 Full Steam Ahead for China’s Digital Yuan

• 🏠 Scottish Woman Forced to Sell Her House After Crypto Scam

⛏️ KuCoin’s Twitter Account Hacked

The Official KuCoin Twitter account was compromised for about 45 minutes in the early hours of April 24th.

The hacker published a malicious post for a giveaway with a link to a phishing site using KuCoin’s official Twitter account. 

The exchange identified 22 transactions where users lost funds after interacting with the phishing site. KuCoin users lost a total of 22,628 Tether (USDT). 💸

The exchange has promised to:“fully reimburse all verified asset losses caused by the social media breach and the fake activity.”As they should!

The exchange also assured users that the hack was limited to the social media account and that all funds on the exchange were safe. 💪

Hacking official Twitter accounts to promote fake giveaways and airdrops has become much more common over the past few years.

Just remember, kids, if you see something that seems too good to be true, it probably is!

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🇨🇳 Full Steam Ahead for China’s Digital Yuan

According to a report by the Chinese Communist Party’s publication People’s Daily, civil servants in Changshu, a city in Jiangsu Province, will receive their salaries in digital yuan from May. 💰

The plan will extend to employees of government agencies and state-owned and public institutions, such as state-run schools, hospitals, and media outlets.

While central banks and governments worldwide are looking into CBDCs, there is some trepidation about how much control they could give the aforementioned entities. 😡

Some concerns include:

• Freezing or seizing assets: CBDCs could make it easier and faster for governments to freeze or seize resources, potentially leading to the exclusion of certain individuals from society.

• Negative interest rates: People may lose money due to negative interest rates. As individuals cannot hoard real cash, it’s much easier to drive interest rates well below zero. 

• Programmable spending: CBDCs could limit or prohibit certain purchases, such as alcohol, for individuals with alcohol-related offenses.

🏠 Scottish Woman Forced to Sell Her House After Crypto Scam

A Scottish citizen was left with a £150,000 debt (almost $190,000) after falling victim to cryptocurrency fraud. 😢

She is now forced to sell her home to avoid additional financial issues.

The woman sought support from Advice Direct Scotland and the local police, but the entities could not help her retrieve the funds.

The woman, known only as Jennifer, decided to invest her money into a crypto scheme after seeing a dubious advert on Facebook featuring the advice expert Martin Lewis.

Lewis is a British journalist who created a trusted website that advises money-saving techniques. 

Jennifer said: “Martin Lewis was exactly why I looked at investing.”

She believes she had been the perfect target for the criminals since she was “a very vulnerable person.” 

Sadly, criminals continue to prey on the vulnerable. In this case, “vulnerable” seems to include those who are new to crypto. 

It really paints crypto in a bad light and gives ammo to the FUDsters.

Be safe out there.

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