The NFT Platform famous for minting Jack Dorsey’s first tweet has halted NFT operations amidst counterfeiting and illicit activity calls. “Rampant” issues relating to minting counterfeit nonfungible tokens, or NFTs, have forced popular platform Cent to halt some operations. Founded in 2017, Cent kicked off as a “social network and informal platform for creative experimentation.”…
Read more
The U.S. Federal Trade Commission (FTC) has warned about romance scams using cryptocurrency. Scammers use romance as a hook to lure people into bogus investments, especially crypto, the federal agency explained. “2021 numbers are nearly five times those reported in 2020, and more than 25 times those reported in 2019,” said the FTC. FTC Warns…
Read more
The Netflix documentary will be about a New York-based couple and their link to laundering nearly 120,000 BTC tied to the crime. Streaming and production giant Netflix will soon produce a documentary series on the infamous Bitfinex hack — one of the biggest financial crimes from 2016 stealing 119,756 Bitcoin (BTC) — worth $72 million…
Read more
In 2021 alone, victims within the FBI San Francisco division’s territory lost more than $64 million to romance scams, compared to just over $35 million in 2020. The United States Federal Bureau of Investigation (FBI) has issued a warning against the rise in romance scams in the San Francisco Bay Area, with the latest trend…
Read more
The controversy around Wonderland DAO has brought back focus on the “not-so” decentralized nature of some DAO projects. The Wonderland protocol became the talk of the decentralized finance (DeFi) world after the platform was found at the center of a brewing controversy. On Jan. 27, DeFi analyst zachxbt revealed that one of the anonymous co-founders…
Read more
Findings from Chainalysis shows the NFT space to be prone to wash trading, but most traders are not profiting. Nonfungible tokens (NFT) have taken the world by storm, resulting in mainstream interest and greater adoption of cryptocurrency. According to blockchain analysis firm Chainalysis, NFT popularity skyrocketed in 2021. Chainalysis’ “NFT Market Report” shows a minimum…
Read more
While sporting a questionable name, the coin’s project says it wants to enable a “social and ethical” payment method. The cryptocurrency community has raised concerns about Mari Coin, a new token supposedly related to the LGBT+ community, with some people even suspecting the project to be a scam. Launched in December 2021, MariCoin promises to…
Read more
The attacker launched a public poll on Mirror’s official website, which falsely proposes a freeze on the community pool in case of a scam. If executed as planned, the attacker would receive 25 million MIR tokens. Public blockchain network Terra has confirmed an ongoing scam attack via an official governance poll on Mirror, an in-house…
Read more
The year 2021 has seen an increase in “rug pulls,” a new scam capable of luring both early adopters and new crypto investors. This year has been monumental for the cryptocurrency sector in terms of mainstream adoption. A recent report published by Grayscale Investments found that more than one-quarter of United States investors (26%) surveyed…
Read more
Soon after Modi’s Twitter account with over 73.4 million followers got hacked, attackers shared misleading information about the mainstream adoption of Bitcoin and a 500 BTC giveaway. The official Twitter account of Indian Prime Minister Narendra Modi got compromised earlier today, which was then used to share misleading information about the mainstream adoption of Bitcoin…
Read more
