Crypto crime is reportedly on the rise, with blockchain sleuths ZachXBT and Taylor Monahan highlighting that endorsements of memecoins by politicians, such as Donald Trump, along with the U.S. regulators dropping various court cases, have emboldened scammers within the crypto space. ZachXBT indicated that the environment has made it easier for scammers to operate without fear of repercussions, while reports noted over $2 billion lost to crypto hacks in early 2025, primarily from phishing scams and rug pulls. Monahan echoed these sentiments, noting that the lack of social, financial, or legal consequences for criminals continues to perpetuate the problem. Although some scammers are facing legal challenges, the regulatory landscape remains lenient. As criminal activities continue to thrive in this context, both experts warn that the current climate is favorable for illicit behavior, indicating a troubling trend in the cryptocurrency ecosystem.

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