The U.S. Justice Department has filed a grand jury superseding indictment against Malone Lam and co-defendants accused of carrying out one of the largest cryptocurrency thefts in U.S. history. According to the AP, the group of young men allegedly duped a victim out of bitcoin worth over $240 million in August 2024, laundered the proceeds through a sophisticated scheme, and then went on a lavish spending spree to celebrate the heist.

According to a Visa report, AI-powered scams have emerged as the largest threat in payment fraud, as enhanced network-level security measures have diminished chances for direct system breaches. This shift has led criminals to increasingly exploit human trust to carry out their fraudulent activities.

BitShop has launched the latest version of its digital finance app, which offers a fast cryptocurrency-to-Naira exchange and facilitates seamless bill payments. This update aims to enhance user experience in managing digital currencies and everyday transactions.

The Independent Police Investigative Directorate (IPID) is actively pursuing two suspects linked to a theft of precious metals valued at R14 million. The investigation is ongoing as authorities work to apprehend those responsible for the heist, according to SABC News.

Rand Water, South Africa's biggest water utility, has been hit by a cyberattack, TechCentral reports. According to the utility, operations continue as usual and there has been no impact to the country's water supply. Further details about the nature of the attack or who was responsible were not provided in the initial report.

South Africa's Financial Sector Conduct Authority says it has imposed R10-million in penalties and 20-year debarments against individuals accused of manipulating share trading linked to Africa Bitcoin in September 2022. According to the regulator, the enforcement action targets share manipulation, with the debarments barring those involved from the financial industry for two decades. The penalties stem from trading activity that took place during that month, though further details about the individuals or the specific trades involved were not disclosed in the report.