Blockchain

On March 23, CNBC reported that a group of Binance angels shared techniques that allow users to bypass the platform’s KYC, residency, and verification systems. CNBC confirmed the information by reviewing hundreds of messages posted on a Discord server and a Telegram group controlled and operated by Binance, which apparently ran from 2021 to March 2023. Crypto is banned in China, but Binance employees and volunteers tell people how to bypass the ban https://t.co/ddssYTwimH — CNBC (@CNBC) March 24, 2023 KYC? What KYC? According to CNBC, a number of Binance employees and “angels” (volunteers trained by the exchange to promote … Read more

A study conducted by the cybersecurity company Kaspersky determined that approximately a third of the US crypto investors have had some portion of their stash stolen by hackers.  Bad actors usually con victims by luring them to enter a counterfeit website or urging them to join a dubious investment platform.  ‘People Need to Take Care to Protect Themselves’ Kaspersky surveyed 2,000 American adults to estimate that around 30% of those who have hopped on the crypto bandwagon had become victims of theft. The average value of the lost assets was nearly $100,000, while 15% of the respondents admitted parting with … Read more

A 60-year-old Indian woman lost nearly $30,000 in a crypto investment scam after she was approached on the matrimonial site where she had registered herself to look for a life partner. The con man told her that he was a US-based engineer and can make her earn quick profits through bitcoin investments.   Investment in Love Gone Wrong According to media reports, the Mumbai woman, who is a retired executive from a private company, registered on a matrimonial website in early 2022. Soon, she was approached by a person on the site, and the two exchanged their phone numbers and started calling … Read more

The hacker behind the largest DeFi exploit of 2023 continues to demonstrate controversial behavior, as this time, they returned the majority of the funds stolen from Euler Finance. In two separate transactions, the perpetrator sent back over $100 million worth of ETH to the protocol. CryptoPotato reported the flash loan attack, which took place earlier in March, that saw $198 million worth of USDC, staked ether, wrapped BTC, and DAI siphoned off the DeFi lending protocol. Later reports suggested that this vulnerability was evident for over eight months before the exploit. The team behind the project offered the attacker a … Read more

The trading volumes have gone down during the weekend, resulting in BTC failing to produce any significant moves in either direction. The altcoins have also stalled on a daily scale, while XRP has emerged as one of the best performers for the past seven days. Bitcoin Boring at $27.5K A lot happened in the cryptocurrency industry in the past few weeks, and bitcoin has somewhat expectedly taken a break now. The asset exploded from under $20,000 to over $28,000 during the US banking crisis, which actually expanded to Europe, with UBS having to acquire Credit Suisse and Deutsche Bank’s stocks … Read more

Greepeace’s latest marketing stunt in its campaign against the Bitcoin mining industry appears to have backfired, with BTC boosters welcoming its artistic fruit.  Meanwhile, Bitcoiners continue to blast the organization’s efforts to disparage the network as environmentally harmful, remaining committed to its proof of work consensus mechanism.  The Skull of Satoshi In a tweet on Friday, Greenpeace echoed previous claims that Bitcoin is causing “dangerous amounts of real-world pollution” through fossil fuel consumption incentivized by its “outdated code.” NEW: #Bitcoin is causing MASSIVE amounts of pollution and has become a major roadblock in our fight to phase out fossil fuels. … Read more

According to a recent Statista report, India’s crypto community could surge to more than 156 million members by the end of the year.  Most people expected to jump on the bandwagon are educated younger individuals with middle-income status who seek alternatives to the shaking banking system. Indians Could Flock to Crypto in the Near Future The survey estimated that over 11% of India’s population will have dived into the cryptocurrency sector by the end of 2023. The country’s crypto adoption rate is expected to surpass that of the United States, the United Kingdom, Japan, and Russia. Statista determined that most Indians who … Read more

After a 2-year investigation, Hindenburg concluded Block (previously known as Square) “systematically took advantage of the demographics it claims to be helping.” The report accused the firm of facilitating “fraud against consumers and the government” as well as “avoiding regulation.” It further called Block’s loans and fees to be “predatory” in nature and designed to “mislead investors with inflated metrics.” The US-based short seller said its research involved numerous interviews with former employees, partners, and industry experts, as well as an extensive review of regulatory and litigation records and FOIA and public records requests. Hindenburg Report on Block In a … Read more

Scammers adapt better than we can imagine and change depending on the market situation. This revelation was made in a recently hosted webinar by prominent blockchain analytics firm Chainalysis wherein it gauged crime trends in the industry market during the crypto winter. The data gathered by the firm revealed how scammers adapted to the developments and volatility of the crypto market. Not all scams behaved the same way in the context of the bear market. This time around, it was the free giveaway and romantic scams that managed to swipe money from victims’ pockets. Scammers Post Terra Collapse The data … Read more