A New Jersey man has sued Xfinity and the cryptocurrency platform, eXch, alleging the defendants are liable for $650,000 in stolen cryptocurrency after his email account was hacked. The plaintiff, Robert Gilliam, alleges the defendants were negligent and failed to follow proper authorization protocol.
Takeaway: Threats to crypto transactions have increased in recent years as the digital currency becomes more commonplace. The TRM Labs 2025 Crypto Crime Report released in February highlighted a dual trend for attorneys: a decline in illicit crypto transactions in the last year, but a rise in hacks and use by bad actors. TRM, which as a company detects and monitors fraud and financial claims for financial crimes in digital assets, also saw fraudsters use artificial intelligence in multiple ways in 2024. For instance, financial groomers and other scammers used large language models to send more and better-quality phishing messages, created pornographic images of individuals to extort them and created fake personas to bypass verification requirements.