New Cryptocurrency Scam Uses Phishing to Steal $6 Million from Crypto Investors
1 week ago 2 mins read

Crypto-Raptors Lose $6 Million to New Scam

A new crypto scam has been uncovered that has resulted in the theft of over $5.9 million from unsuspecting victims. The scam, which utilizes a phishing exploit known as Permit2, has been linked to over 689 phishing websites created since March 27. The scam was discovered after a Twitter user who goes by the name of 0xSaiyanGod, also known for their interest in security matters, stumbled upon a promoter of the scam service while browsing the Scam Sniffer Telegram channel. Upon reporting the scammer to the channel, the security service initiated an investigation. Scam Sniffer then uncovered a screenshot evidencing

Biden Says No to Debt Deal That Would Shield Crypto Traders
1 week ago 1 min read

President Biden Says He Will Not Sign Debt Deal That Protects Crypto Traders

U.S. President Joe Biden has rejected a debt ceiling agreement with Republican leaders that would allegedly benefit crypto traders. In a press conference on May 21, Biden called the Republicans’ proposed terms “unacceptable.” He said that he would not agree to a deal that “protects wealthy tax cheats and crypto traders while putting food assistance at risk for nearly 1 million Americans.” The alleged protections for crypto traders refer to tax-loss harvesting. Tax-loss harvesting is a strategy that investors use to reduce their overall tax liabilities. It involves selling a cryptocurrency at a loss to offset capital gains from crypto

Internal emails from the U.S. SEC suggest that the regulator knew that XRP did not fully meet the definition of a security
1 week ago 2 mins read

Internal Emails from the U.S. SEC Could Be Ripple’s Key to Winning the Lawsuit

Internal emails from the U.S. Securities and Exchange Commission (SEC) suggest that the regulator knew that XRP did not fully meet the definition of security. The emails, which were filed by Ripple in court, argue that there are reasonable grounds not to consider XRP as a security because it does not satisfy the Howey test. The Howey test is a legal framework used to determine whether an investment is a security. To meet the Howey test, an investment must meet the following criteria: XRP does not meet the Howey test because it is not an investment of money. XRP is

Cardano is set to offer a robust infrastructure and foster innovation in the decentralized ecosystem
1 week ago 2 mins read

Cardano’s DeFi Ecosystem Grows, Fueling Speculation for $1 ADA Price

Cardano is set to experience significant growth following notable developments within its network. Several key advancements were highlighted in the latest weekly development report released Friday, May 19. Hydra Upgrade In scaling efforts, the Hydra team achieved significant milestones with the release of the first mainnet-compatible Hydra node version. These advancements address critical issues that need resolution before integrating Hydra Head with real ADA, ensuring users’ smooth and secure experience. Voltaire Workshops Voltaire workshops also commenced, providing opportunities for collaboration and networking among local Cardano communities. Voltaire is a big upgrade for Cardano in the future. As per the Cardano

South Korean lawmakers have proposed a bill that would require public officials to disclose their cryptocurrency holdings.
1 week ago 1 min read

South Korean lawmakers propose a bill that would require public officials to disclose their crypto holdings

South Korean lawmakers have proposed a bill that would require public officials to disclose their cryptocurrency holdings. The bill, which was introduced by lawmakers from the ruling Democratic Party, would require all public officials, including members of parliament, government officials, and judges, to disclose their cryptocurrency holdings on an annual basis. The bill is being proposed in response to concerns about the potential for cryptocurrency to be used for corruption and insider trading. Cryptocurrencies are often traded anonymously, which makes it difficult to track the flow of money and identify potential conflicts of interest. If the bill is passed, it

A 57-year-old Las Vegas resident was charged to commit wire fraud and money laundering in connection with a $45 million crypto scam.
1 week ago 1 min read

Las Vegas Man Charged in $45M CoinDeal Crypto Scam

A 57-year-old Las Vegas resident, Bryan Lee, was charged on May 19, 2023, with conspiring to commit wire fraud and money laundering in connection with a $45 million cryptocurrency scam. According to the U.S. Department of Justice, Lee conspired with the main culprit behind the scam, identified as 44-year-old Ukrainian national Dmitrii Dudchenko, to defraud investors by falsely claiming that CoinDeal was a legitimate cryptocurrency exchange. Dudchenko, who is currently at large, allegedly created CoinDeal in 2017 and used it to lure investors with promises of high returns. However, the exchange was actually a Ponzi scheme, and Dudchenko used investors’

the native token of the Tornado Cash privacy protocol dropped by over 50% after an attacker exploited a vulnerability
1 week ago 1 min read

Tornado Cash Attack Drains $2 Million Worth of TORN Tokens, Price Dropped by Over 50%

The price of TORN, the native token of the Tornado Cash privacy protocol, plummeted by more than 50% on May 20 after an attacker exploited a vulnerability in the protocol’s governance contract to drain over $2 million worth of TORN tokens. The attacker was able to exploit the vulnerability by submitting a malicious proposal to the Tornado Cash governance contract that allowed them to withdraw all of the TORN tokens that had been staked in the contract. The Tornado Cash team has since patched the vulnerability and is working to recover the stolen TORN tokens. However, it is unclear if

Wormhole Ventures Launches $50M Fund to Support Cross-Chain Projects
1 week ago 1 min read

Polygon, Solana, and Algorand Launch $50M Cross-Chain Investment Fund

Leading blockchains Polygon, Solana, and Algorand have announced a joint $50 million investment fund to support cross-chain projects. The fund, called the Wormhole Fund, will be used to invest in projects that are built on multiple blockchains. The Wormhole Fund is a significant development in the cross-chain space. By investing in projects that are built on multiple blockchains, the fund will help to accelerate the adoption of cross-chain technology. Cross-chain technology allows users to transfer assets and data between different blockchains. This can be a major benefit for users, as it allows them to access a wider range of dApps

The European Commission has approved a new tax directive that will require crypto companies
1 week ago 2 mins read

EU Approves New Tax Rules for Crypto Companies

The European Commission has approved a new tax directive that will require crypto companies to report certain information to tax authorities. The directive is part of a broader effort by the European Union to regulate the cryptocurrency industry and curb crypto crime. The directive requires crypto companies to report information on transactions, including the identity of the parties involved, the value of the transaction, and the date of the transaction. The information must be reported to tax authorities in the European Union where the transaction takes place. The directive also requires crypto companies to keep records of transactions for at

Tether has partnered with KriptonMarket
1 week ago 1 min read

Tether and KriptonMarket Partner to Bring USDT to Argentina

Tether, the world’s largest stablecoin issuer, has partnered with KriptonMarket, a leading cryptocurrency exchange in Argentina, to support the acceptance of USDT in the country. The partnership will allow KriptonMarket users to deposit, withdraw, and trade USDT on the exchange. It will also make it possible for Argentinians to use USDT to buy and sell goods and services on the KriptonMarket platform. Tether’s USDT is a stablecoin, which means that it is pegged to the U.S. dollar. This makes it a popular option for investors who are looking for a way to store their value in a cryptocurrency that is

Swaprum DEX Rug Pull Wipes Out $3M in Customer Funds
1 week ago 1 min read

$3M in Crypto Funds Stolen in Swaprum Rug Pull

An alleged rug pull on the decentralized exchange (DEX) Swaprum has wiped out $3 million worth of customer funds. The rug pull, which is a type of cryptocurrency scam, occurs when developers abandon a project and steal the funds that have been deposited into it. In the case of Swaprum, the developers allegedly shut down the platform and disappeared with the funds. The rug pull has affected a number of users who had deposited funds into Swaprum. Some users have lost tens of thousands of dollars, and others have lost their entire life savings. The rug pull has raised concerns

The MEME token
1 week ago 1 min read

MEME Token Surges Over 500%

The MEME token has surged over 500% in the past 24 hours, reaching a new all-time high of $0.000000013. The surge in price is likely due to a number of factors, including the recent listing of MEME on the MEXC exchange. MEME token is a meme inspired by the fee mechanism of $babydoge. The team said, “$MEME IS INSPIRED BY THE FEE MECHANISM OF $BABYDOGE – A SUSTAINABLE PROJECT WITH 5% FOR DIAMOND HANDS AND 4% ADD LIQUIDITY WILL MAKE THE PROJECT SUSTAINABLE AND ALWAYS ATTRACT MANY BIG SHARKS. 1% IS USED TO LIST 50 MAJOR EXCHANGES, AND WHEN ACHIEVED,