The Wisconsin DFI has launched a scam tracker to combat rising crypto fraud, detailing deceptive practices based on consumer complaints. Over $3.5M lost from Jan 2022 to Jun 2024. Verify companies before investing. #CryptoFraud #Update
Cardano’s @InputOutputHK launched Alpha v1 on Aug 1, enhancing network security by integrating partner chains like Midnight. This update leverages Cardano’s SPOs to reduce validation costs and complexities, streamlining blockchain scalability efforts. #Blockchain #ADA
Terra Classic remains secure despite the recent hack on $LTC Phoenix-1 blockchain due to proactive updates by Genuine Labs. The incident highlights the importance of timely security patches and ecosystem-wide vigilance. #BlockchainSecurity #Update
? LI FI suffers $9.7M breach in stablecoins $USDC and $USDT. Hacker converting assets to $ETH. Users advised to revoke Infinite Approvals. Sharpe Bridge and Sharpe Refuel temporarily shut down amid investigations. #DeFiSecurity #Update
The Phoenix-1 blockchain was hacked due to an outdated IBC-go version. Terra Classic remained secure after a major upgrade by Genuine Labs, highlighting the importance of timely updates and minimizing forks for better security.
The SEC amended its complaint against Binance, removing Solana (SOL) and 10 other crypto assets from securities classification, sparking debate. Experts view this as a litigation tactic, leaving Solana’s legal status uncertain and impacting potential ETF launches.
Wisconsin launches a scam tracker to combat crypto and investment fraud, helping users identify deceptive practices. Over $3.5M lost to scams since 2022. DFI urges vigilance and warns against sharing financial info online. #CryptoFraud
Terra blockchain was exploited, losing $6.8M in assets due to a reentrancy vulnerability. The breach caused ASTRO’s price to drop by 60%. Terra halted the network for an emergency patch. #CryptoSecurity #Update
The SEC charged BitClout founder Nader Al-Naji with cryptocurrency fraud, alleging he misused $7M in investor funds for personal luxuries, including a mansion and gifts. Al-Naji raised $257M through unregistered sales since 2020.
North Korea is infiltrating the crypto sector via fake job applications, exploiting economic sanctions. Over 300 U.S. companies have been targeted, risking major financial and geopolitical consequences. Enhanced security measures are urgently needed.
The SEC has charged BitClout founder Nader Al-Naji with fraud, alleging he raised $257M through unregistered BTCLT tokens. Launched in 2021, BitClout faced backlash from unconsenting influencers and withdrawal issues. Legal challenges led to its decline.
Trust Wallet partners with The Open Network (TON) to integrate with Telegram, enhancing GameFi and dApps with token swaps, cross-chain exchanges, and NFT support. TonKeeper wallet integration and Bitcoin bridge launch planned for 2024.
Crypto investigator ZachXBT linked hacks of Sydney Sweeney and Bob Odenkirk’s accounts to convicted hacker Gurvinder Bhangu. The scams generated $530,000, highlighting the rising trend of targeting celebrities for crypto fraud.
Crypto chargebacks, especially friendly fraud, are challenging exchanges amid Visa’s new monitoring rules. The volatility of digital assets attracts fraud, increasing costs for platforms. Enhancing communication and using AI for detection are vital for long-term success in the crypto industry.
