Crypto Space Sees String of Incidents, from Data Breaches to Impersonation Scams, as Japan Signals Support for Regulated Exchanges

The cryptocurrency space has been hit with a string of incidents in recent days, highlighting the ongoing risks and challenges facing the industry. From data breaches to impersonation scams, the incidents have left users and investors on high alert.

One of the most recent incidents involved Global-e, a payment platform integrated by Ledger in 2023. According to reports, Global-e suffered a data breach affecting some of Ledger's customers. However, Ledger has since confirmed that the incident did not compromise any crypto wallets.

In a separate incident, a Coinbase impersonation scam was exposed by onchain investigator ZachXBT. The scam, which resulted in losses of over $2 million, was linked to a series of phishing attacks that used social engineering tactics to trick users into revealing their login credentials. The incident highlights the ongoing risk of social engineering and phishing attacks in the cryptocurrency space.

Starknet, an Ethereum ZK-rollup network used for decentralized finance and gaming, has also been hit with downtime. The incident is the latest in a series of outages to affect the network, which has faced previous downtime in 2025.

Meanwhile, Japan's finance minister has signaled support for regulated exchanges as a gateway for digital assets. The move is part of a broader effort by the Japanese government to advance tax, disclosure, and market reforms in the cryptocurrency space.

In a statement, the finance minister emphasized the importance of regulated exchanges in providing a safe and secure environment for users to buy and sell digital assets. The move is seen as a positive development for the industry, which has long been plagued by concerns over regulation and oversight.

However, experts warn that the risk of social engineering and phishing attacks remains a major concern. A recent report by SlowMist highlighted the growing threat of fake MetaMask 2FA security checks, which aim to steal users' secret recovery phrases.

According to the report, attackers are impersonating MetaMask and using phishing tactics to trick users into revealing their recovery phrases. The incident highlights the ongoing risk of social engineering and phishing attacks in the cryptocurrency space.

In light of these incidents, experts are urging users to remain vigilant and take steps to protect themselves from potential threats. This includes using strong passwords, enabling two-factor authentication, and being cautious when clicking on links or providing sensitive information online.

As the cryptocurrency space continues to evolve and mature, it is clear that the risk of incidents and attacks will remain a major concern. However, with the support of regulated exchanges and the ongoing efforts of experts and investigators, the industry is well-positioned to address these challenges and provide a safe and secure environment for users.

Sources:

• Ledger says Global-e incident did not compromise crypto wallets
• How ZachXBT exposed a Coinbase impersonation scam using onchain clues
• Starknet mainnet hit by fresh downtime as team probes cause
• Japan’s finance minister backs exchanges as gateway for digital assets
• Fake MetaMask 2FA security checks lure users into sharing recovery phrases