The Three Address Protocol offers a structured strategy to safeguard non-fungible tokens (NFTs), dividing activities across three specialized addresses to combat digital asset theft. TAP: Candidate For The New Standard in NFT Security The NFT community has long been plagued by NFT thefts, with high-profile cases often involving losses of digital assets worth hundreds of…
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While non-fungible tokens (NFTs) are generally believed to represent the link between an owner and an asset, without platforms acting as “digital notaries” there can be no effective way of stopping scammers from minting and selling plagiarized works, Shaban Shaame, the co-founder of Wakweli protocol has argued. Tokenizing Real-World Assets According to Shaame, the ease…
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Falling crypto prices caused crypto scam revenue to plummet in 2022, though two scam types managed to persist. Crypto scam revenue was slashed by almost half in 2022 due mainly to falling crypto asset prices, but two scam types managed to stay immune. Crypto scam revenue in 2022, which includes investment scams, NFT scams and…
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The U.S. government has arrested and charged the creator of “Mutant Ape Planet” non-fungible tokens (NFTs) for allegedly defrauding crypto investors. “The purchasers were ‘rug pulled,’” the Department of Justice (DOJ) described, adding that millions of dollars in cryptocurrency were diverted for the NFT creator’s personal benefits. DOJ Takes Action Against NFT Rug Pull Scheme…
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Hackers had access to multiple official social media accounts of the British Army for nearly four hours, when they posted crypto phishing links and scams. The British Army’s official Twitter, Facebook and YouTube accounts were breached on Sunday for almost four hours, with scammers promoting rip-off nonfungible token (NFT) collections and cryptocurrency scams. Just after…
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The U.S. Department of Justice (DOJ) has charged two people allegedly behind a million-dollar non-fungible token (NFT) “rug pull” scheme. They abandoned the NFT project within hours after selling out, deactivated the website, and transferred over $1 million in crypto to the wallets they controlled, the justice department explained. NFT Purchasers Defrauded in a Rug…
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“You can’t solicit funds for a business opportunity, abandon that business and abscond with money investors provided you,” stressed IRS-CI special agent-in-charge Thomas Fattorusso. The Department of Justice (DOJ) has taken action against an alleged nonfungible token (NFT) rug pull after it slapped the founders of the “Frosties” project with charges relating to fraud and…
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The account of a moderator from the non-fungible token project was compromised in the attack, posting a phishing link that drained user wallets. Recently launched NFT project, Rare Bears, was hit with an attack, after a hacker posted a phishing link in the project’s Discord channel, stealing nearly $800,000 in NFTs. Analysis from blockchain security…
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