Hong Kong police have arrested 100 individuals in a significant crackdown on fraud and money-laundering syndicates, recovering over HK$180 million (US$24.2 million) from 295 victims. In a two-week operation code-named “Widepeak,” which concluded on Monday, 75 men and 25 women were detained on suspicion of money laundering and obtaining property by deception. Cryptocurrency Scam Amongst…
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The crypto technology provider Taurus announces the opening of its Vancouver office, marking tis expansion into the North American market. According to a press release shared with Cryptonews.com, the new office will cater to the growing interest in North America as financial institutions aim to launch more crypto services. Taurus provides crypto infrastructure services to…
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Hong Kong police arrested on Tuesday three individuals linked to a fraud syndicate that allegedly defrauded at least 10 residents out of HK$5.1 million (US$653,900) through fake virtual investment talk tickets. Authorities revealed that the victims were deceived into bidding for fake tickets to a virtual investment talk show with the intention of reselling them for…
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Gala Games, a prominent blockchain gaming platform, experienced a significant security breach that resulted in the unauthorized sale of 600 million GALA tokens, valued at $23 million. CEO Eric Schiermeyer confirmed that the incident was attributed to inadequate internal controls. The exploit occurred on May 20 at 7:32 pm UTC when a hacker accessed a Gala…
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South Korean analysts think new challenges await the “next generation” of stablecoins, as the industry continues to develop. The use of algorithms in stablecoin development, they say, will present new “risks” for token holders. And experts are still unconvinced by their algorithmic designs. The claims came in a report from researchers at the South Korean…
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XLink announced a partnership with cybersecurity firm Kaamel Technology on May 20. The collaboration will thoroughly investigate the ‘root cause’ of a data breach on May 15 that involved nearly $10 million of user funds. XLink stated that Kaamel Technology would conduct a ‘deep investigation’ and take measures to ‘eliminate vulnerabilities and prevent future misconduct.’…
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To foster a healthier and more sustainable crypto ecosystem, Binance, the world’s largest cryptocurrency exchange, urged small and medium-sized crypto projects to address the prevalent trend of low float and high fully diluted valuations (FDV) on Monday. The exchange invites these projects to apply for its listing programs, emphasizing the importance of solid fundamentals and…
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BounceBit, a new Bitcoin restaking startup, has announced a detailed roadmap for 2024 aimed at democratizing high-yield Bitcoin investing by merging centralized and decentralized finance (CeDeFi). Backed by Binance, the startup’s ambitious plan involves enhancing infrastructure and introducing new products while maintaining Bitcoin’s core technology. BounceBit Unveils Plans for Bitcoin Democracy By Blending Centralized and…
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Ripple’s recent report highlights Professor Massimiliano Sala’s call for new cryptographic systems to protect blockchain from quantum computing threats. In an interview with Ripple, the mathematics professor at University of Trento explained that current encryption methods might be vulnerable to quantum computers as they evolve. He emphasized the importance of developing “quantum-resistant” cryptographic systems. Ripple…
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Japanese Manga-inspired game Captain Tsubasahas launched on the gaming blockchain Oasys offering 5,000 non-fungible tokens (NFTs) to players. In a blog post, Oasys Blockchain said the Captain Tsubasahas game is developed by Mint Town, Co., Ltd. and BLOCKSMITH&Co., a subsidiary of mobile gaming giant KLab Inc., in Japan, which develops and distributes products such as…
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