Author: Mahamat Ashraf

Profile picture of Mahamat Ashraf

Mahamat Ashraf

Passionate and creative gaming content writer with 3 of experience in the gaming industry. I specialize in crafting captivating narratives, game reviews, and engaging content that resonates with gamers of all genres. A dedicated lore enthusiast, I excel in exploring and expanding upon the rich stories that games have to offer. As a gamer myself, I bring an authentic and enthusiastic voice to my work, connecting with the gaming community on a personal level. Let's level up your gaming content together!

Articles by Mahamat Ashraf

FTX exchange’s secret bank deal to profit from Tether revealed in court

2 days ago 1 min read

Bloomberg published the lawsuit on February 17. The lawsuit says that the FTX crypto exchange allegedly profited from Tether (USDT) by using a covert agreement with Deltec Bank. As per Caroline Ellison, the former CEO of Alameda Research, the company could produce USDT on credit and sell it for a profit through an unauthorized line of credit with Deltec without having to pay for it right away. Alameda generated billions of dollars in USDT through the arrangement in 2020 and 2021 by selling the crypto for a profit and then paying for the expenses. By using this strategy, referred to

Stacks (STX) token surges by over 30% in the past 24 hours, reaching 22-month high

7 days ago 1 min read

Stacks (STX) is the crypto that has gained the most out of the top 100. The price increase coincides with a 22-month high in the global crypto market capitalization. As of this writing, STX is trading at $2.67, up 27% over the last 24 hours. Earlier today, the asset briefly reached a 26-month high of $2.8, a price last seen in December 2021. After the price increase, STX became the 29th-largest crypto when its market cap surpassed the $3.8 billion threshold. The increase occurs as the value of the entire crypto market exceeds $2 trillion, with Bitcoin (BTC), the most

FTX’s FTT token falls by over 40% as the exchange relaunch denied

3 weeks ago 1 min read

FTX exchange of Sam Bankman-Fried has pledged to fully reimburse customers and creditors affected by its current bankruptcy proceedings. The company assured the overseeing judge that affected individuals, if they could prove their losses, would receive their entire investment. However, the promise of complete asset recovery is not without caveats. The reimbursement values are linked to the official declaration of bankruptcy by FTX, which occurred during a period of turbulent market conditions. This condition has been approved by US Bankruptcy Judge John Dorsey, emphasizing the situation’s complexities. There’s no indication of an FTX 2.0 on the horizon. Andrew Dietderich, a

German authorities reportedly seized 50,000 bitcoins, worth around $2.17 billion

3 weeks ago 1 min read

German authorities reportedly seized 50,000 bitcoins, worth around $2.17 billion. This is the largest crypto seizure in Germany, and it marks a significant development in the ongoing fight against cybercrime. The seizure is linked to the operation of a piracy website in 2013, which flagrantly violated the Copyright Act. The illicit proceeds from this operation were later converted into bitcoin. According to an official police statement, one of the two suspects in the case voluntarily transferred the entire Bitcoin value of $2.17 billion to the Federal Criminal Police Office (BKA). While the suspects are currently being investigated for possible commercial

Cyber Theft in Crypto Sees Significant Drop in 2023, With $674 Million Recovered: PeckShield Report

3 weeks ago 1 min read

Blockchain security firm PeckShield has released a report indicating a significant 27.78% decrease in cyber theft in the crypto space in 2023, with losses totaling $2.61 billion. This represents a significant improvement over the previous year, when cyber theft totaled more than $3.6 billion. Interestingly, the report highlights a significant recovery effort, with more than $674 million recovered from stolen funds. This represents a 25% recovery rate, a significant increase over 2022, when only $133 million was successfully recovered. Negotiations with hackers and the implementation of bug bounty programs by the affected crypto firms were credited with accelerating the recovery.

FTX Exchange Struggles to Settle Debts, Raises $4.4 Billion Amid Uncertainty

3 weeks ago 1 min read

The embattled crypto exchange FTX is facing challenges as it attempts to repay customers following a significant downturn. To raise funds for this purpose, FTX has sold off its crypto holdings. In the turbulent events of 2022, FTX’s collapse had a profound impact on the crypto market, resulting in significant debts owed to customers. In the aftermath, FTX has been diligently investigating ways to keep its promises to users. In August 2023, they presented a proposal to settle debts in cash and relaunch the platform for international users using the domain FTX.com. According to Bloomberg, FTX is on track to

Solana- based Dogwifhat (WIF) token surges over 70% in the last 24 hours

4 weeks ago 1 min read

A new player in the meme coin arena has piqued the market’s interest amid recent turbulence affecting major crypto such as Bitcoin and Ethereum. The Dogwifhat (WIF) token, created less than two months ago on the Solana blockchain, has seen an astonishing increase of more than 70% in the last 24 hours, outperforming more established names. Following in the footsteps of meme coin predecessors like Dogecoin and Shiba Inu, the animal-themed WIF token has grown in popularity since its inception, thanks partly to its whimsical nature. The WIF phenomenon has created a devoted community that enthusiastically promotes the token on

This play-and-own mobile gaming platform GAMEE loses over $14 million to hackers

4 weeks ago 1 min read

The play-and-own mobile gaming platform GAMEE suffered a security breach in its GMEE token contracts on the Polygon network. The exploit resulted in the theft of 600 million GMEE tokens, worth around $14 million. As the crypto community awaits further developments, GAMEE has provided preliminary insights into the incident and outlined its plans for dealing with the fallout. On January 22, the X (formerly Twitter) account of GAMEE Token advised users to avoid interacting with the GMEE token while the team investigated a security compromise. Users had already reported a sudden price drop, raising suspicions of a possible exploit. GAMEE’s

Over 580 million people now own crypto globally

4 weeks ago 1 min read

According to a recent report from Crypto.com, global crypto ownership increased by 34% in 2023, rising from 432 million to an impressive 580 million. This surge in crypto adoption coincides with economic challenges, geopolitical tensions, and the pandemic’s ongoing effects. Bitcoin and Ethereum led the charge in the crypto adoption race, with growth rates of 33% and 39%, respectively. Bitcoin now controls 51% of the global market, with Ethereum accounting for a sizable 21%. The report identifies the Bitcoin Ordinals protocol as a key driver of Bitcoin’s adoption surge in April and May. Furthermore, advancements in Bitcoin exchange-traded funds (ETFs)

Terraform Labs, the company known for the failed TerraUSD stablecoin declares bankruptcy

1 month ago 1 min read

Terraform Labs Pte. filed for Chapter 11 bankruptcy in Delaware on January 21, according to court documents. The company, best known for its involvement in the ill-fated TerraUSD stablecoin, has revealed financial details, including assets and liabilities valued between $100 million and $500 million. The collapse of TerraUSD and Terra’s LUNA token in May 2022 resulted in significant losses for investors, ushering in a difficult period in the crypto world. Terraform Labs’ bankruptcy filing sheds light on the firm’s current financial situation, citing assets and liabilities valued between $100 million and $500 million. The parity of reported values emphasizes the

Manta Network Faces DDoS Attack Shortly After Token Issuance, $MANTA Prices Surge

1 month ago 1 min read

Manta Network, a well-known layer-2 blockchain, experienced a distributed denial-of-service (DDoS) attack shortly after the issuance of its governance token, $MANTA. Despite the disruption, $MANTA prices rose by 25%, bringing Manta’s market capitalization above $550 million. The DDoS attack on Manta Network occurred on Thursday, resulting in network delays and slower withdrawals. Manta developers acknowledged the incident in an X post, explaining the network impact and assuring users that they are actively working to resolve the issues. At the time of writing, no specific information about the identity of the threat actor behind the DDoS attack was disclosed. Kenny Li,

Ethereum Developer Praises EIP-1559 as “The Great Equalizer”

1 month ago 2 mins read

Péter Szilágyi, an Ethereum (ETH) developer, recently praised Ethereum Improvement Proposal 1559 (EIP-1559), describing it as “the great equalizer.” In a post published on January 16, Szilágyi praised the protocol’s ability to level the playing field between validators and regular Ethereum network users. EIP-1559, implemented to improve Ethereum’s gas fee mechanism, introduced the concept of a “base fee” that users could bid for transactions. The base fee is then burned off or transferred to an irretrievable wallet. According to Ultrasound Money data, over 3.9 million ETH have been burned since the introduction of EIP-1559. In the last week alone, the