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The post Fake Delivery Driver Steals $11 Million Crypto In San Francisco Home Robbery ⋆ ZyCrypto appeared on BitcoinEthereumNews.com. Advertisement &nbsp &nbsp A crypto thief disguised as a deliveryman stole $11 million worth of digital assets from a San Francisco resident. This adds to the growing number of bad actors drawn to virtual assets amid soaring prices and anonymous transactions. Crypto Theft Cases Hit New Highs  The crypto community was struck with another infamous incident over the weekend after a man was robbed of his assets. The thief posed as a delivery driver to gain access to his victim’s front door before pulling a gun on the crypto owner.  A police report cited by the San Francisco Chronicle revealed the victim was restrained with duct tape before being forced to hand over his crypto wallet alongside credentials, laptops, and mobile phones. According to the report, the incident occurred in the Mission Dolores neighborhood, but it didn’t give any recent details on arrests. This marks another major crypto theft this year as figures continue to rise. When bad actors steal assets, they often create a complex cycle by moving funds through several wallets. Mixers and related services are also deployed to mask transactions, making it harder for authorities to recover the funds. Advertisement &nbsp In certain cases, assets are transferred across borders, prompting collaboration among global authorities. It should be noted that as cases of crypto fraud escalate, authorities have also beefed up measures to trace funds. This year, United States prosecutors have arraigned multiple suspects in high-profile crypto criminal networks to deter criminals. Global authorities have also followed the same path, launching inter-agency groups.  Despite these efforts, users remain cautious because some bad actors prefer crypto transactions over fiat. Cybercrime expert David Baek explained that identifying suspects is more achievable than recovering assets.  “Authorities move on all three fronts at once: devices, blockchain, and victim profiling, rather…

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The post US Bank Is Testing a Stablecoin on Stellar Network appeared on BitcoinEthereumNews.com. In brief U.S. Bank is testing its own stablecoin on the Stellar blockchain. The firm is working with the Stellar Development Foundation and PwC on the project. U.S. Bank joins Citi, Goldman Sachs, Bank of America, and others as traditional banks now experimenting with stablecoins and crypto rails. Publicly traded bank U.S. Bank is testing a stablecoin on the Stellar blockchain, the firm announced on Tuesday.  The Minneapolis-based bank is collaborating with consulting firm PwC and the Stellar Development Foundation on the project.  “It’s another way to move money on a blockchain, and we look at blockchain as an alternative payment rail,” said Mike Villano, senior VP and head of digital asset products at US Bank, on the Future of Finance podcast. “We’re very interested to see what use cases are going to manifest from that and what customers are going to be most interested in.”  The firm joins a growing list of banks nationwide that are considering diving into the stablecoin waters, as institutional appetites grow following the signing of the GENIUS Act, which regulates the issuance and trading of the tokens.  Last month, Citi, Goldman Sachs, Barclays, and Bank of America, among others, were included in a list of banks that are considering a joint stablecoin venture. Prior to that, both Citi and Bank of America had individually showcased their interest in stablecoins earlier this year.  “The primary objective was to demonstrate the promise of blockchain in a trusted, bank-grade environment,” Kurt Fields, a Blockchain leader at PwC, said of U.S. Bank’s engagement.  The firm’s work alongside Stellar is in part because of the layer-1 network’s underlying architecture, which allows for freezing or undoing transactions at the blockchain level.  “One of the great things about the Stellar platform, as we did some more research and development on…