Social Media

Reports of a potential large-scale Instagram data leak triggered concern this week after cybersecurity firm Malwarebytes claimed that millions of user records were discovered for sale on underground forums

Uganda cut off public internet access during the presidential election, causing a surge in downloads of the encrypted messaging app Bitchat. The app allows people to communicate without the internet, and VPNs also saw high downloads as users sought ways to access information.

Viewership across YouTube and social media has sunk to bear-market lows, reflecting retail exhaustion, scam fatigue and a market increasingly driven by institutions.

Crypto YouTube viewership has dropped to its lowest level since January 2021 after a sharp three-month decline. The fall reflects wider retail fatigue, with scams, poor returns, and a shift toward traditional assets reducing engagement across social platforms.

CryptoQuant founder Ki Young Ju has launched a blistering critique of X, accusing the platform of suppressing legitimate crypto content while allowing bots to spam useless content online.

X is preparing to launch Smart Cashtags next month, letting users tap ticker symbols to see live prices, charts and related posts for stocks and cryptocurrencies. The feature may later support in-app trading, as concept images show buy and sell buttons, though X has not confirmed how or when this would work.

Elon Musk’s AI chatbot Grok has been accused of creating sexualised deepfake images without consent, including images involving minors, after users exploited its image editing feature on X. Governments in several countries have launched investigations and warned of legal action, raising pressure on X and xAI to tighten safety controls and stop illegal content from spreading.

A Canadian man called Haby is accused of stealing more than $2 million from Coinbase users by posing as customer support. He tricked people into sending crypto and spent the stolen funds on luxury items, social media accounts, and gambling.

Trust Wallet confirmed a security incident affecting version 2.68 of its Chrome extension after users reported unauthorised wallet drains following a recent update. The company told users to disable the extension and upgrade immediately, saying its mobile app and other versions were not affected while the investigation continues.

Seven companies ran fake crypto platforms and WhatsApp investment clubs, tricking US investors out of over $14 million with false trading claims and AI-driven tips. Victims were pressured to pay extra fees to withdraw funds, and the stolen money was sent through overseas bank accounts and crypto wallets.