Opinion: The promotion of Meme coins by American politicians and the abandonment of cryptocurrency lawsuits by regulatory agencies have fueled crypto crime activities.
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 fueled cryptocurrency crime activities. Data shows that losses due to hacking attacks, phishing scams, and Rug Pulls exceeded $2 billion in the first quarter of 2025. ZachXBT criticized the regulatory direction as being unfocused and failing to effectively combat undisclosed paid promotions and other behaviors. Monahan believes that the current cost of crime is extremely low and profits are substantial, leading to a continuous influx of hackers and scammers into the field. Experts warn that without effective regulatory measures, this "criminal Supercycle" could continue to worsen.