Crypto Turmoil: $91M Bitcoin Scam, Protocol Growth, New Partnerships, and Landmark US Regulation

Mumbai, August 22 (TNA) The cryptocurrency sector witnessed a series of major developments this week, underscoring both its vulnerabilities and rapid evolution. In a staggering case of fraud, a victim lost 783 BTC—worth nearly $91.4 million—after falling prey to a social engineering scam.

The attacker impersonated a hardware wallet support agent, highlighting the persistent risks investors face in a year where global crypto losses have already reached $3.1 billion in the first half of 2025.

Amid these challenges, the Osmosis protocol reported surpassing $20 million in cumulative revenue, funds that will directly support stakers and strengthen community-driven initiatives. On the innovation front, Optimism announced a collaboration with Flashbots to integrate advanced transaction sequencing into its OP Stack ecosystem.

This partnership promises faster, more efficient, and customizable user experiences, aiming to make high-level blockchain infrastructure accessible to a wider range of projects.

Meanwhile, in the U.S., the enactment of the GENIUS Act marked a historic milestone for stablecoins, laying the foundation for clearer rules governing dollar-backed digital assets. Kristin Smith of the Solana Policy Institute noted the shift of crypto from a fragmented movement into a unified political force pushing for fairer financial systems.