Jan 31 2024
The dramatic fall in overall thefts is attributed to a drop in attacks against Decentralized Finance (DeFi) tools. DeFi tools cut out regulated institutions, such as the banking industry, from financial transactions. Of the $1.7 billion stolen in 2023, almost two-thirds stemmed from hacks that targeted DeFi protocols. One explanation behind the drop in money …
Jan 31 2024
The cryptocurrency market seems to have been cooling off throughout the past seven days, decreasing to its current capitalization of $1.69 trillion. This comes a week after the United States Securities and Exchange Commission approved a spot Bitcoin ETF. In general, BTC dropped by 8.4%, SOL – by 6.1%, XRP – by 9.1, ADA – …
Jan 31 2024
Zero-transfer phishing scams have continued to plague the crypto space. Market participants have lost more than 451 million Tether (USDT) on the Tron network. Scammers often use addresses similar to the ones the victim has sent tokens to, beginning and ending with the same set of characters. They do not need the user’s private key; …
Jan 31 2024
Unstoppable Domains has become the first player in the industry to offer both traditional .com domains and third-party Web3 domain names for use in web3. The decision to enter the world’s most popular type of traditional web2 top-level domain (TLD), which boasts over 157 million registrations through its website, aligns with its recent expansion efforts. …
Jan 30 2024
The Fantom Foundation has been drained of hundreds of millions of dollars from its crypto wallets by a phishing scammer. Fantom is a smart contract and Dapp platform focused on enhanced speed, making transactions more efficient than other layer-one blockchains like Ethereum. The foundation, which oversees development for the Fantom blockchain, lost at least $470,000 …
Jan 30 2024
New York Attorney General Letitia James has taken decisive action against major players in the cryptocurrency industry. James filed a lawsuit against Gemini Trust, Genesis Global Capital, and Digital Currency Group (DCG) The legal action centers around Gemini Earn, a joint effort between Genesis and Gemini that offered investors significant returns on their cryptocurrency deposits. …
Jan 30 2024
Horst Jicha, 64, founder and CEO of USI Tech, is alleged to have defrauded investors of approximately US$150 million. He departed the U.S. in early 2018 and did not return until December 2023 when he attempted to go on vacation in Miami, Florida, where he was promptly arrested. According to the indictment, USI tech advertised …
Jan 30 2024
Florida and Alaska authorities have instructed Binance.US to cease its services in the regions. The move follows the guilty plea of Changpeng Zhao (CZ), founder and former CEO of crypto exchange Binance, in November 2023. CZ pleaded guilty to failing to implement a strong anti-money laundering (AML) program on the platform, accepting to pay a …
Jan 30 2024
Ripple’s CEO and co-founder Brad Garlinghouse is fearless against the SEC, as he and his legal team are ready to take the case to the Supreme Court. “I think that definitely could happen. I mean, certainly. And we’ve said this publicly —we are in it till the end,” he said. He revealed that the company …
Jan 30 2024
The report highlights a growing nexus of online unregulated casinos and cryptocurrencies in the region. Together, these tools have allowed criminals to transfer their ill-gotten gains around the world faster than authorities can track or freeze them. For instance, the cryptocurrency Tether Stable Coin (USDT), which is backed by the U.S. dollar, was named by …