Financial technology middlemen reportedly sent investment banking giant JPMorgan Chase 1.89 billion data requests in the month of June.

In an internal company memo reviewed by CNBC, a JPMorgan systems employee noted that only 13% of those requests were initiated by a customer for transactions.

“Aggregators are accessing customer data multiple times daily, even when the customer is not actively using the app. These access requests are massively taxing our systems.”

An anonymous source with knowledge of the memo tells CNBC that the requests often involve helping fintech companies bolster their products or stop fraud.

Earlier this month, JPMorgan informed fintech companies such as PayPal, Venmo and Coinbase that they will need to begin paying to access their customers’ bank account information, a move that sparked controversy in the digital asset sector.

Gemini co-founder Tyler Winklevoss claims the investment bank is attempting to sabotage fintech and crypto firms, accusing JPMorgan chief executive Jamie Dimon of trying to wreck President Donald Trump’s attempts to embrace digital assets.

“This will bankrupt fintechs that help you link your bank accounts to crypto companies like Gemini, Coinbase, and Kraken so you can easily fund your account with fiat to buy Bitcoin and crypto…

Jamie Dimon and his cronies are trying to undercut President Trump’s mandate to make America the pro-innovation and the crypto capital of the world. We must fight back!”

Dimon, however, defended the fee proposal during the bank’s second-quarter earnings call.

“So, this is very important. So forget pricing for a second, we are in favor of the customer, but we think the customer has the right to if they want to share their information. What we ask people to do is, what do they – do they actually know what’s being shared? What is actually being shared? It shouldn’t be everything. It should be what their customer wants. It should have a time limit because some of these things went on for years. It should not be re-marketed or resold to third parties. And so, we’re kind of in favor of all that, done properly.

And then the payment, it just costs a lot of money to set up the APIs (application programming interfaces) and stuff like that to run the system’s protection. So, we just think it should be done and done right. And that’s the main part. It’s not like you can’t do it.”

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Large volumes of Pudgy Penguin’s PENGU tokens are flowing from the project’s deployment address to centralized exchanges (CEXs), raising questions amid a strong market rally.

On July 28, blockchain analyst EmberCN, citing Arkham Intelligence data, reported that more than 206.9 million PENGU tokens, valued at approximately $8.91 million, were transferred to various CEXs within the past 24 hours.

He said this is part of a broader transfer pattern observed from the project’s team during the past month.

EmberCN pointed out that the PENGU team has transferred over 2 billion tokens, valued at around $66.6 million, to CEXs during the past month.

Token transfers to exchanges are commonly seen as a sign that holders might be preparing to sell. As a result, the recent PENGU team movements could be viewed as a potential step toward liquidation.

This surge in token movements coincides with a notable price increase. According to CryptoSlate’s market data, PENGU is trading at $0.04278 at the time of writing. The token has climbed 3.3% over the past day, gained over 17% in the past week, and jumped roughly 230% over the last month.

PENGU scam warnings

Meanwhile, the PENGU token rally appears to have drawn attention from scammers who have initiated a new wave of phishing scams targeting the NFT project token holders.

On July 27, Beau, the security expert at Pudgy Penguin, explained that the new scam involves sending small amounts of PENGU tokens, known as “dust,” to random wallets. These tokens use vanity address names that double as fake website URLs.

The security chief pointed out that this scam is designed to manipulate users into searching for these vanity names via Solscan.

From there, victims may unknowingly click phishing links that mimic Pudgy Penguins’ branding. If users connect their wallets, they are prompted to sign malicious transactions that drain their assets.

Beau clarified that no legitimate PENGU airdrop or claim is currently active.

He also highlighted another scam involving counterfeit PENGU tokens engineered to act as honeypots. These fake tokens can trap users during swaps and steal their funds.

These events reflect the growing sophistication of crypto scams, especially during market rallies. As PENGU gains momentum, users are urged to stay alert, verify token sources, and avoid interacting with unsolicited airdrops.

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