PANews reported on June 20 that blockchain security experts ZachXBT and Taylor Monahan pointed out that the promotion of memes by American politicians and the abandonment of some encryption lawsuits by regulatory agencies have contributed to the rise of crypto crime activities. Data shows that in the first quarter of 2025, losses due to hacker attacks, phishing scams, and rug pulls exceeded $2 billion. ZachXBT criticized the regulatory focus as misguided and ineffective in combating undisclosed paid promotions and other behaviors. Monahan believes that the current cost of crime is extremely low while profits are substantial, leading to a continuous influx of hackers and scammers into the field. Experts warn that without effective regulatory measures, this “crime supercycle” could continue to worsen.
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