Summary of this article
Global raid shuts down BlackSuit ransomware, seizes $1 million crypto.
Wisconsin Senate proposes bill to curb cryptocurrency ATM scams.
NFT market cap hits $9.30 billion following Ethereum price rally.
Law enforcement authorities in the US along with their counterparts from seven other nations have carried out a global crackdown on the BlackSuit ransomware group, shutting down servers and domains tied to the group. They also seized about $1 million in cryptocurrency. The action took place in late July this year.
The multinational effort was led by the US Department of Homeland Security’s Homeland Security Investigations, and included support from the US Secret Service, the US’ Internal Revenue Service (IRS), the Federal Bureau of Investigation (FBI), and law enforcement agencies from the UK, Germany, Ireland, France, Canada, Ukraine, and Lithuania.
BlackSuit is a branch of the Royal ransomware gang. It has been active since at least 2023 and has targeted critical infrastructure, including attacks on hospitals, government sites, factories, and commercial facilities. Victims were forced to pay ransoms in Bitcoin using darknet sites.
Since 2022, BlackSuit has victimised over 450 known victims in the US, gathering over $370 million in ransoms. The group employed double-extortion tactics. It encrypted data as well as threatened to leak the stolen data to coerce victims into paying ransoms.
In one instance, a victim paid 49.30 Bitcoins, worth about $1.40 million at the time, to restore their data. Part of that payment, approximately $1 million, was seized when it passed through a crypto exchange in early 2024. Ransom demands from BlackSuit have ranged from $1 million to $10 million. The highest demand was $60 million.
Wisconsin Senate Brings Bill To Tackle Crypto ATM Scams
The US state of Wisconsin has brought forth a bill to target scams around cryptocurrency ATMs. The bill, Senate Bill 386, is a companion to the Assembly Bill 384. Both aim to create strict rules for operators of these machines. Wisconsin Senator Kelda Roys and six other Democrats sponsored the Senate version. The goal is to make transactions safer and reduce fraud, reports Cointelegraph.
If passed, the law will require crypto ATM operators to hold a money-transmitting license. Operators will have to collect key user details, including full name, date of birth, address, phone number, and email and a scan of a government-issued ID. The user’s photo will be taken, and identity has to be verified for every transaction. The bill also limits transactions to $1,000 per day for each person.
The proposal requires warnings about fraud to be placed clearly on each machine. Fees will be capped at either $5 or 3 per cent of the transaction amount, whichever is higher. If a transaction is confirmed as part of a scam, the operator must return the full amount to the user within 30 days of confirmation by law enforcement.
Crypto ATMs have been linked to various fraud schemes. Elderly people are often targeted by scammers posing as officials. By introducing matching bills in both chambers, legislators hope to pass the new rules more quickly and reduce the risk of such crimes.
NFT Market Cap Soars To $9.30 Billion As Ethereum Rallies
The total value of non-fungible tokens (NFTs) has reached $9.30 billion, a gain of 40 per cent since July 2025, on the back of a rally in Ethereum prices recently. Ethereum-based NFT collections also gained the most from this rally, as many NFTs are built on the Ethereum Blockchain. As the price of ETH climbed above $4,600, the value of NFT collections also increased sharply, driving the market cap higher.
CryptoPunks is the most expensive NFT collection. Its market capitalisation has been estimated at over 526,900 ETH, or $2.40 billion. Last week, CryptoPunks sold close to 4,200 ETH worth approximately $20 million, with the selling price averaging around $217,331. The second most valuable collection is Bored Ape Yacht Club, valued at about $602 million. Pudgy Penguins is next with a valuation near $591 million. Pudgy Penguins led in weekly transaction volume, generating about $8.7 million. The Bored Ape Yacht Club saw $6.30 million in the same period.
Other top collections are Chromie Squiggle, Autoglyphs, Fidenza, Lil Pudgys, Mutant Ape Yacht Club, Moonbirds, and Milady Maker. Collectively, these bluechip NFTs are assisting in maintaining momentum within the NFT market.
