Nola Robert

Nola Robert is considered a thought leader in crypto industry, and her work is widely read and respected by industry professionals, investors, and enthusiasts alike. Nola is also known for her ability to explain complex topics in an easy-to-understand manner, making them accessible to a wider audience.

Articles by Nola Robert

Azuki NFT Project Hit by Twitter Hack, Loses $750K

1 year ago 1 min read

Hackers have taken over the Twitter account of the top non-fungible token (NFT) project, Azuki, and have stolen over $750,000 worth of crypto assets. The hackers posted a wallet-draining link disguised as an invitation for users to participate in a virtual land mint in The Garden, Azuki’s native metaverse platform. Wallet drainers are phishing mechanisms that trick victims into approving transactions that transfer crypto assets from their wallet to that of the hackers. The attackers made off with over $751,321 worth of USDC, 3.9 ETH, 11 NFTs, and $6,742.62 in USDC from other crypto wallets. Azuki has since reclaimed control

California DMV Implements Blockchain for Secure Record Management

1 year ago 1 min read

The Department of Motor Vehicles (DMV) in California is set to use blockchain technology for record keeping, including the issuance of car ownership and the simplification of transfers of such ownership. The DMV is working with a private fork of the Tezos blockchain, an open-source blockchain that can execute peer-to-peer transactions and serve as a platform for deploying smart contracts. The move is part of a collaboration between the California DMV, Tezos, and blockchain software firm Oxhead Alpha, which announced the successful completion of a proof-of-concept blockchain-based vehicle titling solution on January 25. Ajay Gupta, the chief digital officer at

Avraham Eisenberg is facing a legal battle with the Solana-based DEX

Mango Labs Takes Legal Action Against Alleged Hacker Eisenberg

1 year ago 1 min read

Avraham Eisenberg is facing a legal battle with the Solana-based decentralized exchange (DEX) Mango Markets over a “profitable trading strategy” he allegedly used to exploit a vulnerability on the platform and take advantage of the exchange’s users. In October 2022, the trading platform reported an anomaly and took precautionary measures to protect users’ funds. The hacker was identified as Avraham Eisenberg and the U.S. Department of Justice arrested him for carrying out a $110 million exploit of the exchange. The Securities Exchange Commission (SEC) has charged Eisenberg with securities manipulation, and the Federal Bureau of Investigation (FBI) and the Commodities

Mango Markets are planning to relaunch the project

Mango Markets to Continue Crypto Trading Despite SEC’s Objections

1 year ago 1 min read

The US Securities and Exchange Commission (SEC) has alleged that the native token of the decentralized crypto exchange, Mango Markets (MNGO), is a security. The SEC has not alleged any wrongdoing by Mango Markets, however, the agency has accused MNGO trader Avraham Eisenberg, who drained $116m from the exchange in October, of securities market manipulation. The SEC’s labeling of the token raises knotty problems about whether Mango Markets’ “version 4” can proceed without facing regulators’ wrath. The SEC might be laying the groundwork to bring a case against the exchange that issued MNGO to its investors when it launched in

Goldman Sachs has distanced itself from crypto exchange FTX

Goldman Sachs Denies Creditor Status in FTX Bankruptcy

1 year ago 1 min read

Goldman Sachs has distanced itself from crypto exchange FTX, which filed for Chapter 11 bankruptcy in November after a $6 billion bank run fueled by rumors of insolvency and allegations of commingling user funds with sister trading firm Alameda Research. Documents filed on Wednesday in Delaware’s US Bankruptcy Court list thousands of potential FTX creditors, including Goldman Sachs, JPMorgan Chase, HSBC, BNY Mellon and other financial services firms, as well as crypto firms, airlines and tech companies. However, a Goldman Sachs spokesperson said the bank is not an FTX creditor and that the document filed is not necessarily evidence of

China Implements 20% Tax on Crypto Transactions

1 year ago 1 min read

China has reportedly started to impose a 20% personal income tax on investment profits for individual crypto investors and many Bitcoin (BTC) miners after several major domestic exchanges handed the tax authorities extensive information about some of the whales’ transactions. This represents a shift in China’s policies towards crypto, which have previously ranged from a total ban to investigating the utility of blockchain. The Chinese government’s views on the legality of crypto have been complex, with tax authorities and financial authorities having differing opinions. In October 2021, China Tax News, a subsidiary of the State Administration of Taxation, published an

US prosecutors are investigating Sam Bankman-Fried

US Prosecutors Seeking Clarity on SBF’s Mysterious Investments

1 year ago 1 min read

Federal prosecutors are investigating Sam Bankman-Fried, the former CEO of FTX, over a $400 million investment he made in the hedge fund Modulo Capital. Prosecutors suspect that Bankman-Fried invested FTX customer funds into the hedge fund, which is located on the same compound as FTX, while Alameda Research was suffering from the collapse of other crypto firms. The Bahamian prosecutor revealed their knowledge of the hedge fund’s existence during Bankman-Fried’s bail hearing in Nassau, Bahamas, before the former FTX CEO was extradited to the US. Bankman-Fried is facing eight criminal charges in the United States, including wire fraud, conspiracy to

Binance has seen its BUSD stablecoin extend its recent declines

Binance USD Stablecoin Loses $2B in Value Due to Token Management Issues

1 year ago 1 min read

Binance, one of the largest crypto exchanges in the world, has seen its BUSD stablecoin extend its recent declines due to issues with mismanagement involving the exchange’s pegged tokens. The circulating supply of BUSD fell to $15.4 billion on Wednesday, a reduction of $1 billion over the past week and $2 billion in a month, according to CoinGecko. This decline comes after Binance botched a report about its digital asset reserves in December, causing users to withdraw funds from the exchange. BUSD is a dollar-pegged stablecoin issued by Paxos Trust under the Binance brand, and it is backed by cash

Arizona lawmakers propose tax-free status for crypto assets

1 year ago 1 min read

Lawmakers in the Arizona State Senate are considering a bill aimed at having voters decide whether virtual currency should be exempt from property taxation. In legislation introduced in the first session of the Arizona State Senate in 2023, Senators Wendy Rogers, Sonny Borrelli, and Justine Wadsack proposed having Arizona residents decide on amending the state’s constitution in regard to property taxes. Should the measure pass the legislature, voters could choose in November 2024 to make virtual currency, specifically tokens that are not “a representation of the United States dollar or a foreign currency” tax-exempt. The bill, SCR 1007, went through

BlockFi wants to pay employees retention bonuses

BlockFi Fights to Hold on to Staff in the Face of Bankruptcy

1 year ago 1 min read

BlockFi has been actively seeking court approval to pay retention bonuses to certain employees to prevent a mass exodus. The company filed a 14-page witness declaration with the U.S. Trustee and the creditors’ committee on Jan. 23, 2023, to support the petition. The proposed retention bonuses range from 10% to 50% of the employees’ salaries. The court’s decision is pending. In the meantime, BlockFi has experienced some personnel loss. Since the petition filing last November, 11 employees have left BlockFi. Meanwhile, rival crypto lender Celsius has been granted approval to pay staff assisting with the bankruptcy process. In December 2022,

Lazarus Hacker group stole $100 million in crypto

$100M Harmony hack linked to North Korea’s Lazarus Group, says FBI

1 year ago 1 min read

The FBI has confirmed that the North Korean hacker groups Lazarus Group and APT38 are responsible for the theft of $100 million worth of crypto from Harmony’s Horizon bridge. The attack took place in June 2022 and was the result of security holes in Harmony’s Ethereum bridge. The FBI stated that the North Korean hackers started shifting around $60 million worth of the stolen funds earlier this month via the Ethereum-based privacy protocol RAILGUN. Binance also detected that the hackers were trying to launder the funds through the Huobi crypto exchange, and promptly assisted in freezing and recovering the digital

South Africa Implements New Crypto Standards in Advertising Regulations

1 year ago 1 min read

The Advertising Regulatory Board (ARB) of South Africa has introduced a new clause for the cryptocurrency industry in its advertising code, aimed at protecting consumers from unethical advertising. Companies and individuals in the country must abide by certain advertising standards pertaining to the provision of cryptocurrency products and services in a new clause introduced to Section III of the country’s advertising code. The clause states that adverts must clearly state that investments may result in the loss of capital and must not contradict warnings about potential investment losses. Adverts must also give balanced messages around returns, features, benefits and risks