Browsing:Crypto

Dark Web Drug Lord's $150 Million Crypto Empire Unveiled
3 months ago 2 mins read

Dark Web Drug Lord’s $150 Million Crypto Empire Unveiled: A Digital Age Drug Trafficking Saga

Banmeet Singh, a 40-year-old Indian national, has admitted to orchestrating a massive narcotics enterprise across continents. His admission comes after the largest crypto and cash seizure in the history of the United States Drug Enforcement Administration (DEA), totaling a staggering $150 million in forfeited crypto assets. Singh’s criminal enterprise, which features sophisticated use of the dark web and crypto, sheds light on the changing landscape of criminal networks in the digital age. Singh’s digital storefronts, which operated on notorious marketplaces such as Silk Road 1 and 2, Alpha Bay, Hansa, and others, sold controlled substances such as fentanyl, LSD, ecstasy,

A report indicates a significant 27.78% decrease in cyber theft in the crypto space in 2023
3 months ago 1 min read

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

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.

Web3 Gaming Solution Immutable zkEVM Launches On The QuickNode Platform
3 months ago 3 mins read

Web3 Gaming Solution Immutable zkEVM Launches On The QuickNode Platform

Miami, USA, January 30th, 2024 QuickNode, a blockchain infrastructure platform that helps scale DApps and provides high-performance access to blockchains, announced the launch of Immutable zkEVM, a Layer 2 blockchain designed for gaming projects. Immutable zkEVM will provide Web 3 gaming developers with seamless building tools, combining the compatibility of Ethereum Virtual Machine (EVM) with high scalability and Ethereum-grade security for web3 games.  By incorporating Immutable zkEVM into QuickNode’s ecosystem, the team aims to elevate the gaming experience for developers and players alike, pushing the boundaries of web3 gaming with robust, scalable, and secure blockchain solutions. This first-of-its-kind technology is a step

Bitcoin to surge to over $170,000 after the upcoming halving
3 months ago 1 min read

Bitcoin to surge to over $170,000 after the upcoming halving, SkyBridge Capital founder

Anthony Scaramucci, founder of SkyBridge Capital, is optimistic about Bitcoin’s future, predicting a surge to $170,000 per coin after the upcoming halving event. The halving, occurring around every four years, halves the rate at which new Bitcoin is produced. Scaramucci, known for endorsing Bitcoin as a superior store of value compared to gold, draws parallels between Bitcoin’s halving cycles and its subsequent remarkable price increases. Reflecting on past patterns, he emphasizes the uncanny consistency in Bitcoin reaching new highs about 18 months after each halving event. The last halving in May 2020 saw Bitcoin closing at $9,670 and hitting its

Jupiter DEX on Solana hits $480 million in trades, beating Uniswap
3 months ago 1 min read

Jupiter DEX on Solana hits $480 million in trades, beating Uniswap

Jupiter, a decentralized exchange (DEX) operating on the Solana blockchain, has made waves by achieving an impressive $480 million in trading volume within 24 hours. Notably, the surge in activity propelled Jupiter ahead of Ethereum’s Uniswap, surpassing its trading volume by $10 million, according to data reports. A significant catalyst for this surge was the introduction of “Wen,” a new memecoin distributed via an airdrop on the Jupiter platform. The airdrop was aimed at Solana users who had interacted with Jupiter DEX within the previous six months, as well as owners of Solana Saga phones. Wen’s creation serves as an

FTX Exchange Struggles to Settle Debts
3 months ago 1 min read

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

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

Bahamut Foundation unveils its Bahamut Grants program with a $10 million $FTN coin fund.
3 months ago 2 mins read

Bahamut Foundation Announces Launch of 10 Million $FTN Bahamut Grants Program for Ecosystem Development

Dubai, UAE, January 24th, 2024 Aiming to drive forward the development of Web3, the Bahamut Foundation unveils its Bahamut Grants program with a $10 million $FTN coin fund. This initiative marks a strategic effort to foster the expansion of the Bahamut blockchain, an innovative EVM-based, layer 1 public blockchain distinguished by its unique Proof of Stake and Activity (POSA) consensus. The Bahamut Grants program provides milestone-based financial support to a wide range of projects. Taking into account the current needs of the Blockchain infrastructure, a dedicated priority list of funding initiatives has been announced by the Foundation on the official grants portal,

Traders Pick BlockDAG Network Over AltLayer and Polkadot 2.0
3 months ago 3 mins read

Blockchain Advancements: Traders Pick BlockDAG Network Over AltLayer and Polkadot 2.0

The blockchain industry is constantly progressing, with innovative projects emerging to address scalability, interoperability, and investment opportunities. This article delves into the latest developments in the blockchain space, highlighting three projects with significant potential: AltLayer (ALT), Polkadot 2.0 (DOT), and BlockDAG (BDAG). Among these projects, BDAG offers unique solutions and exciting prospects, attracting investor interest and paving the way for future advancements. Binance Unveils AltLayer with Scalability in Mind In a significant move for the blockchain industry, Binance, the world’s leading cryptocurrency exchange, has launched AltLayer (ALT), the 45th project on its Launchpool platform. AltLayer aims to revolutionize how projects

Global crypto ownership increased by 34% in 2023
3 months ago 1 min read

Over 580 million people now own crypto globally

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)

Vector Reserve Launches Innovative vETH LPD in Upcoming Public Sale LBP
3 months ago 2 mins read

Vector Reserve Launches Innovative vETH LPD in Upcoming Public Sale LBP

London, United Kingdom, January 22nd, 2024 Vector Reserve has announced the launch of its forthcoming Public Sale LBP. Vector is introducing vETH, DeFi’s first Liquidity Position Derivative (LPD), which represents the next evolution of the liquid restaking market. LPDs combine the benefits of liquid restaking with Superfluid Staking on Eigenlayer to create an entirely novel asset class “LPDs are a novel asset class, capturing the full LST & LRT market in a low-risk, diversified way that can offer higher returns than the underlying assets,” said the Vector Reserve team. “We’re excited to be first-to-market with our LPD, vETH, and look forward to welcoming

Sui Foundation and Mysten Labs Debut Sui Basecamp, the First Ever Global Conference for Sui
3 months ago 3 mins read

Sui Foundation and Mysten Labs Debut Sui Basecamp, the First Ever Global Conference for Sui

Palo Alto, USA, January 23rd, 2024 Inaugural Sui ecosystem event comes to Paris April 10-11, 2024 Today, Sui Foundation and Mysten Labs announced Sui Basecamp, the first global conference dedicated to the Sui ecosystem, and a celebration of the builders and entrepreneurs building on Sui, the Layer 1 blockchain and smart contract platform the initial contributors of which are the technology team that emerged from Diem, Meta’s blockchain project. A premier event for the broader web3 ecosystem, Sui Basecamp will take place in Paris on Wednesday, April 10th and Thursday, April 11th 2024, and will feature builders and partners from

CFTC Takes Legal Action Against Debiex in $2.3 Million Romance Scam
4 months ago 1 min read

US CFTC Takes Legal Action Against Debiex in $2.3 Million Romance Scam

The US Commodity Futures Trading Commission (CFTC) has filed a lawsuit against crypto exchange Debiex, accusing the platform of orchestrating a $2.3 million fraud scheme disguised as a romance plot. The legal action began on January 19 in Arizona. According to the lawsuit, Debiex marketed itself as a crypto exchange for US citizens. However, the CFTC claims that the exchange participated in a deceptive scheme to steal funds from Asian Americans via a romance scam. The elaborate scam involved three key groups: “The solicitors,” who established connections on social media, gaining victims’ trust and convincing them to open trading accounts

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