News – Page 37

Spain Arrests Group That Used Truck Cranes to Steal ATM Machines

Four suspects have been arrested in Madrid and Guadalajara. They stole crane trucks and obtained reflective vests so they can pose as construction workers doing road maintenance. In fact they used the crane arm to knock down walls, unhook the ATM machines, load them on the trucks and drive off without witnesses paying much attention to what they were doing. Authorities launched an investigation in September last year following the robbery of an ATM at a bank branch in Guadaljara, in eastern-central Spain.

Source: Written by Lieth Carrillo, 2024-02-21; https://www.occrp.org/en/daily//en/daily/18484-spain-arrests-group-that-used-truck-cranes-to-steal-atm-machines

Worldcoin’s WLD Token Soars Over 180% to ATH as User Count Hits 1 Million

The Worldcoin token, co-founded by OpenAI CEO Sam Altman, has experienced a significant increase of over 186% in the past week. Despite rising controversial views on its methods and regulatory issues, the project has had major growth recently and has attracted a lot of users. On February 18, Worldcoin shared an update on X, revealing that its cryptocurrency wallet application, known as “World App,” has achieved a milestone by attracting more than a million users. Comparatively, there were just 100,000 daily active users in November last year.

Source: Wayne Jones, 2024-02-20; https://cryptopotato.com/worldcoins-wld-token-soars-over-180-to-ath-as-user-count-hits-1-million/

Gemini Settles With New York DFS, Commits to Return $1.1 Billion to Earn Customers

Gemini agrees to return a minimum of $1.1 billion to customers of its defunct Gemini Earn Program as part of its settlement deal with New York regulators. Gemini launched the Earn program in 2021, with Genesis, an arm of Digital Currency Group (DCG), as its partner. FTX’s crash in 2022 subsequently caused Genesis to halt withdrawals, thereby affecting Gemini Earn users. The lender later filed for Chapter 11 bankruptcy in January 2023. According to the DFS, Genesis defaulted on loans valued at about $1 billion.

Source: Anthonia Isichei, 2024-03-01; https://cryptopotato.com/gemini-settles-with-new-york-dfs-commits-to-return-1-1-billion-to-earn-customers/

Manta Network Faces Allegations of Money Laundering Following Bithumb Listing

Manta Network (MANTA) has found itself entangled in a controversy surrounding allegations of money laundering. The controversy emerged when DeFi enthusiast Definalist took to Twitter, suggesting potential misconduct by Manta Network on the day of its Bithumb listing. Two million MANTA tokens were transferred to the personal wallet of Manta’s Korean Business Development (BD) representative. They were then deposited into BithUM’S wallet, representing over 75% of the total circulation volume.

Source: Wayne Jones, 2024-01-20; https://cryptopotato.com/manta-network-faces-allegations-of-money-laundering-following-bithumb-listing/

This Network Had as Many Users as Ethereum in 2023: Flipside Data

Polygon acquired 15.24 million users that year, coming close to Ethereum’s 15.4 million, with a difference of around 160,000 wallets. Flipside defines an “acquired” user as someone who engaged in at least two transactions on a specific blockchain, with at least one occurring in 2023. In January, achieved a remarkable milestone with 2.8 million acquired users, constituting over 40% of the total number for 2023, according to Flipside.

Source: Wayne Jones, 2024-01-28; https://cryptopotato.com/this-network-had-as-many-users-as-ethereum-in-2023-flipside-data/

Life Imprisonment for Korean Crypto Criminals Who Steal More than This Amount?

The South Korean government is taking extra steps to ensure the protection of crypto investors from unfair market activities and criminals. The new measures are part of the Virtual Asset User Protection Act, which is expected to be effective on July 19, 2024. The law protects the assets of crypto users and investors, tasking crypto business operators with the burden of protecting users’ deposits. These deposits are to be managed by institutions with public trust, like banks, due to their regulatory compliance, stability, and specific management systems.

Source: Mandy Williams, 2024-02-12; https://cryptopotato.com/life-imprisonment-for-korean-crypto-criminals-who-steal-more-than-this-amount/

Why is the Ethereum (ETH) Price Up Today?

Ether is up in double digits this week and appears to be just heating up. Buyers are coming in strong, and they have already taken the price above $2,700 at the time of this post. This rally is being driven by Bitcoin’s in the past three days. The recent bullish cross on the 3-day MACD confirms that ETH buyers may only be starting to show their strength. ETH’s biggest target is $3,000 if this rally continues.

Source: Duo Nine, 2024-02-15; https://cryptopotato.com/why-is-the-ethereum-eth-price-up-today/

Crypto Price Analysis Feb-23: ETH, XRP, ADA, SOL, and BNB

Einsteinium briefly broke above $3,000 this week and booked a 4% price increase. Since tapping $3K, ETH entered into a correction, which could see the price re-test the key support at $2860. XRP successfully broke above the 54 cents resistance, the price fell, and a 5.6% loss was booked this week. If buyers manage to hold at 54 cents, then XRP can have a clear way towards its next major target at 68 cents.

Source: Duo Nine, 2024-02-24; https://cryptopotato.com/crypto-price-analysis-feb-23-eth-xrp-ada-sol-and-bnb/

Former BitMEX CEO Arthur Hayes Champions ‘Points’ Over ICOs in Crypto Fundraising

Former BitMEX CEO Arthur Hayes made a compelling case for the emergence of ‘points’ as a superior alternative to traditional initial coin offerings (ICOs) Hayes argued that points combine the best aspects of ICOs and yield farming while addressing their respective limitations. Unlike ICOs, there is no direct exchange of money for tokens, mitigating regulatory concerns. Unlike yield farming, points offer more flexibility in token emissions and timing, allowing projects to adapt to the needs of their users and investors.

Source: Chayanika Deka, 2024-02-10; https://cryptopotato.com/former-bitmex-ceo-arthur-hayes-champions-points-over-icos-in-crypto-fundraising/

Spanish Authorities Arrest 5 Suspected of Fake Banknote Scheme

Five people have been arrested in Spain in a so-called “wash wash scam” They sold pieces of blank paper shaped like banknotes and convinced victims that washing them with special chemicals would transform them into real money. In this type of scam, also known as the “black money scam,” perpetrators claim to possess cash that has been blackened or dyed to evade customs controls. The arrested individuals, two in Barcelona and three in Madrid, were selling the blank paper, either online or in person with the promise that it could be converted back into money.

Source: Written by Erika Di Benedetto, 2024-01-26; https://www.occrp.org/en/daily//en/daily/18405-spanish-authorities-arrest-5-suspected-of-fake-banknote-scheme

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