StormGain Launches StormGain DEX for User-Friendly Decentralized Crypto Trading
3 days ago 2 mins read

StormGain Launches StormGain DEX for User-Friendly Decentralized Crypto Trading

London, United Kingdom, 23rd March, 2023, StormGain, the all-in-one crypto platform, has announced the launch of StormGain DEX, a new platform for decentralized trading. Following several weeks of successful trials, the DEX has exited beta and is open to the public. StormGain DEX supports decentralized trading of digital assets with no custodial risk. Users retain control of their keys and thus their coins at all times. Smart contracts facilitate crypto trading, allowing orders to be executed promptly and efficiently. To trade on StormGain DEX, a user connects their own non-custodial wallet and trades directly, with all orders settled onchain. Thus,

Upland’s 2023 Hackathon To Showcase The Future Of Web3 Metaverse Super Apps
3 days ago 6 mins read

Upland’s 2023 Hackathon To Showcase The Future Of Web3 Metaverse Super Apps

PALO ALTO, California, 23rd March, 2023, Chainwire Upland, the metaverse super app mapped to the real world, is partnering with the EOS Network Foundation, a community-led, not-for-profit organization that coordinates public-goods funding and support to encourage the growth of the EOS Network, to launch Upland’s second hackathon where web2 and web3 developers are invited to bring new games and experiences leveraging Upland assets.  As the only metaverse mapped to the real world, developers are able to create experiences that leverage unique characteristics of the Upland ecosystem, which include geo-specific context and assets like FIFA Women’s World Cup Australia and New Zealand

Founder of Terraform Labs Arrested in Montenegro
3 days ago 1 min read

Do Kwon Arrested While Traveling in Montenegro

Do Kwon, the co-founder and former CEO of Terraform Labs, has been arrested by the Montenegrin police after a prolonged manhunt. According to the Montenegrin Minister of Interior, Filip Adzic, Kwon was apprehended at the Podgorica airport with falsified documents. He is sought after by South Korea, the US, and Singapore for his alleged role in a multi-billion dollar crypto asset securities fraud involving an algorithmic stablecoin and other crypto asset securities. The collapse of the Terra (LUNA) ecosystem has been linked to Do Kwon and Terraform Labs, which have been accused by the United States Securities and Exchange Commission

Users of Bitzlato Crypto Exchange Can Now Withdraw Funds Despite Temporary Closure
3 days ago 1 min read

Bitzlato Crypto Exchange Resumes Withdrawals for Users Following Shutdown

The Bitzlato crypto exchange was recently shut down by the US Department of Justice for allegedly engaging in illegal activities. The exchange was accused of facilitating the transfer of over $700 million in illegally obtained cryptocurrencies, as well as assisting in ransomware attacks. However, in a recent development, Bitzlato has restored access for its customers to withdraw their Bitcoin from the platform. The exchange conveyed the message through Telegram, directing users to use the ‘bz_phoenix_bot’ to access 50% of their frozen funds on the platform. While some users have confirmed withdrawing their holdings, others have opted to transfer to other

SEC Urges Investors to Consider Risks Before Investing in Crypto Securities
3 days ago 1 min read

SEC Issues Warning to Investors Regarding the Risks of Crypto Securities

The U.S. Securities and Exchange Commission (SEC) is urging investors to exercise caution when investing in cryptoasset securities. The agency’s Office of Investors Education and Advocacy has warned that platforms offering crypto trading may not be complying with federal securities statutes. In a bulletin issued on Thursday, the SEC emphasized that the law requires securities broker-dealers, investment advisers, and exchanges to register with the SEC, a state regulator, or a self-regulatory organization. Entities and platforms involved in lending or staking crypto assets may also be subject to federal securities laws. This warning follows the SEC’s previous attempts to demonstrate that

eToro Refocuses Strategy, Secures $250M in Funding After SPAC Fallout
3 days ago 1 min read

eToro secures $250 million in funding following SPAC Breakup

Trading platform eToro has secured $250 million in funding from investors including SoftBank Vision Fund 2, Velvet Sea Ventures, and ION Group at a valuation of $3.5 billion. This marks the first time the Israel-based firm has raised capital since 2018, after failing to go public through a special purpose acquisition company (SPAC) merger last year. The funding comes as part of an Advance Investment Agreement (AIA) entered into by eToro earlier this year as part of its proposed SPAC transaction. The AIA is a legal agreement between an investor and a company under which the investor commits to investing

$4 Billion OneCoin Scandal
3 days ago 1 min read

Fraud Charges Filed Against Woman Linked to $4 Billion OneCoin Scam

The U.S. Department of Justice (DOJ) has announced that it is charging Bulgarian national Irina Dilkinksa with fraud for her alleged role in a multibillion-dollar crypto scheme. Dilkinksa is believed to have been the head of the legal and compliance department of OneCoin, a $4 billion pyramid scheme that marketed itself as a cryptocurrency firm. According to the DOJ, Dilkinksa helped OneCoin launder millions of dollars of illegal proceeds through shell companies, despite her supposed role in the company as head of legal and compliance. The pyramid scheme, which was started by “cryptoqueen” Ruga Ignatova in 2014, was found to

Celebrities Face SEC Charges Over Cryptocurrency Promotion Scheme
4 days ago 1 min read

SEC Brings Charges Against Lindsay Lohan, Jake Paul, Soulja Boy, and Akon in Crypto Scam

The Securities and Exchange Commission (SEC) has announced charges against a group of celebrities, including actor Lindsay Lohan and boxer Jake Paul, in connection with a cryptocurrency promotion scheme. Also included in the charges are a group of rappers and R&B stars, including Soulja Boy, Akon, and Lil Yachty. The SEC alleges that the celebrities promoted the cryptocurrency offering without disclosing that they were paid to do so. The SEC claims that the group received millions of dollars in exchange for promoting the cryptocurrency offering on their social media accounts. According to the SEC, the celebrities violated securities laws by

Coinbase Receives Wells Notice from SEC Over Undisclosed Digital Assets
4 days ago 1 min read

Coinbase Receives Wells Notice from SEC, Could Face Enforcement Action

Coinbase crypto exchange has announced that it has received a Wells Notice from the US Securities and Exchange Commission (SEC). The notice warns that the regulatory body may take enforcement action against the exchange after conducting a brief investigation into undisclosed digital assets listed on Coinbase and its staking services. Despite the notice, Coinbase’s products and services will continue to operate as usual, and the company claims that the SEC has provided little information on the potential violations of securities laws. Coinbase states that it has repeatedly asked the SEC to clarify which assets on its platform may be considered

FTX Goes After Bankman-Fried-Backed VC Firm for $460M
4 days ago 1 min read

FTX Aims to Recover $460M from VC Firm with Ties to Bankman-Fried

The bankrupt cryptocurrency exchange, FTX, is seeking to recover $460 million in allegedly misappropriated customer funds from venture capital firm Modulo Capital. The venture capital firm received a sizeable investment from Alameda Research last year, which is understood to have been at the direction of FTX’s CEO, Sam Bankman-Fried. FTX claimed that Alameda Research invested $475 million in Modulo in a series of transfers beginning in May 2022. According to a filing made on March 22, Alameda entered into a limited partnership agreement with Modulo on June 16, resulting in the transfer of the aforementioned funds to Modulo in exchange

Chainalysis research shows that scammers are not static and are constantly adapting
4 days ago 1 min read

Chainalysis Reveals How Scammers are Adapting in a Bear Market to Stay Ahead

The crypto winter has been a harsh reality for many investors in the cryptocurrency market, but it seems that scammers are not immune to its effects either. As the bear market takes hold, scam revenue has dropped by a staggering 46%, according to recent data from blockchain analysis firm Chainalysis. Despite this, however, scammers are still finding ways to adapt and thrive in these difficult times. During a recent webinar focused on crypto crimes that affect consumers, Eric Jardine, cybercrimes research lead at Chainalysis, shed light on how scammers shift their tactics as market conditions change. He noted that not

Crypto Market Wipes Out Over $250M as Fed Hikes Interest Rates and Regulators Clamp Down
4 days ago 1 min read

Fed Rate Hikes and Regulatory Actions Lead to Over $250M in Crypto Liquidations

On a single day, crypto traders saw nearly $258 million in liquidations as over 68,000 positions were closed within 24 hours. Coinglass data revealed that Bitcoin, Ethereum, and XRP were the most affected currencies. Bitcoin liquidations stood at $132 million, while Ethereum traders lost $51 million. The U.S. Federal Reserve’s rate hike and the SEC’s regulatory actions against crypto businesses may have played a role in the turbulence. Despite the dip, the global cryptocurrency market cap still surpassed the $1 trillion mark, with Bitcoin hovering above $27,000. However, CoinShares reported outflows for six consecutive weeks, indicating that traders were withdrawing