Seventh Impressions Addresses ‘Nailong’ IP Misuse in Crypto Scam

Key Points:

Seventh Impressions addresses ‘Nailong’ misuse in illegal Bitcoin activities.
Company firmly denies any involvement with cryptocurrencies.
Seventh Impressions to pursue legal action against impersonators.

Seventh Impressions issued a statement on October 21st addressing recent illegal activities involving the ‘Nailong’ name in false Bitcoin promotions, clarifying their non-involvement.

The statement highlights the risks of brand misuse in cryptocurrency, urging public vigilance and emphasizing Seventh Impressions’ legal action to protect its IP.

Seventh Impressions Takes Legal Action Against Crypto Fraud

The company has reiterated its commitment to legal and regulatory frameworks since its establishment. It opposes any unauthorized cryptocurrency activity and is actively pursuing steps to protect its customers and brand. The public has been urged to be alert to any fraudulent schemes and report suspected illegal activities to authorities.

Community responses reflect concerns about potential market damage, although no major financial or institutional remarks on the issue. Prominent industry voices have yet to weigh in publicly, maintaining a cautious stance on the unfolding legal actions. However, Seventh Impressions’ swift response underscores the pervasive challenge of brand misappropriation in the digital currency market.

Current State of Bitcoin and Regulatory Insights

Did you know? IP misuse has been a recurring issue, exemplified by past incidents like the infamous “Squid Game” token scam, highlighting the vulnerabilities in digital asset identity protection.

As of October 21, 2025, Bitcoin (BTC) is trading at $108,610.18, experiencing a 2.19% decline over the last 24 hours based on data from CoinMarketCap. The cryptocurrency’s market dominance stands at 58.96%, with trading volumes reaching $61.24 billion, reflecting a 6.08% shift.

Bitcoin(BTC), daily chart, screenshot on CoinMarketCap at 11:56 UTC on October 21, 2025. Source: CoinMarketCap

The Coincu research team suggests the current legal challenges faced by digital brands may demand robust regulatory actions and tech advances to shield intellectual properties. This reflects industry-wide efforts to bolster security and stricter oversight mechanisms.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Source: https://coincu.com/scam-alert/seventh-impressions-addresses-nailong-misuse/

Highlights: The BNB price is down 2% to $1111.46, despite the trading volume spiking 26%. The BNB on-chain demand has slipped, with the open interest plummeting 3% showing a drop in demand. The technical outlook shows a tight tug-of-war, with the bulls attempting to overcome resistance zones. The BNB price is down 2% today, to trade at $1111.46. Despite the plunge, the daily trading volume has soared 26% showing increased market activity among traders. However, BNB Chain has seen declining network activity, with the open interest plummeting, signaling a drop in demand. On Chain Demand on BNB Cools Off The BNB Chain is in a state of cooldown of network activity, which indicates low on-chain demand. In most instances, when a network fails to ensure large volumes or revenues, it means that there is low demand or outflows to other networks. BNB DeFi Data: DeFiLlama According to DeFiLlama data, the volume of the Decentralized Exchanges (DEXs) is down to at least $2.12 billion in comparison to the high of $6.313 billion on October 8, which also means low on-chain liquidity. On the other hand, Coinglass data shows that the volume of BNB has grown by 3.97% to reach $4.95 billion. However, the open interest in BNB futures has dropped by 3.36% to reach $1.74 billion. This reduction in open interest is an indication of a conservative stance by investors since the number of new positions being opened is low. This could be an indication that investors are not so sure about the short-term price outlook. BNB Derivatives Data: CoinGlass Meanwhile, the long-to-short ratio is sitting at 0.9091. This shows that the traders are undecided on BNB price’s next move, as it sits below 1. BNB Price Moves Into Consolidation The chart displays the BNB/USD price action on a 4-hour timeframe, with the token currently hovering around $1111.46. The 50-day Simple Moving Average (SMA) is at $1113, while the 200-day SMA sits at $1129, cushioning the bulls against upside movement. The price has mostly been trending below both SMAs, indicating that the bears are having the upper hand. The BNB trading volume is up, soaring 26%, signaling the momentum is real. On the 4-hour chart, BNB is trading within a consolidation channel. In such a case, this pattern may act as an accumulation period, giving the bulls hind wings to break above resistance zones. BNB/USD 4-hour chart: TradingView Zooming in, the Relative Strength Index (RSI) sits at 44.15, below the 50 level. This shows weakening momentum in the BNB market, and might lead to the RSI plunging to the oversold region if the bulls don’t regain control. In the short term, the BNB price could move up to $1113 resistance and flip it into support. A close above this zone will see the bulls target $1126 resistance, giving the bulls strength to reclaim the $1230 mark. Conversely, if the resistance zones prove too strong, a dip towards $1012 could be plausible. In such a case, this could be a prime buy zone for the risk-takers. In the long term, if the token keeps the hype alive, the bulls may reclaim the $1375 high or higher. eToro Platform Best Crypto Exchange Over 90 top cryptos to trade Regulated by top-tier entities User-friendly trading app 30+ million users 9.9 Visit eToro eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.