crypto blog
Nifty News: Fake Pokémon NFT game spreads malware, ‘Jai Ho’ singer to launch metaverse and more
Hackers hide malware in fake NFT game A phishing website purporting to offer a Pokémon-branded nonfungible token (NFT) card game has been spreading malware to unsuspecting gamers, a cybersecurity firm has warned. The website, which at the time of writing was still online, also claims to offer an NFT marketplace, with a link to buy tokens, and even an area to stake NFTs — all based on the popular Japanese media franchise. However, an arm of the South Korean cybersecurity firm AhnLab warned the public about the website on Jan. 6, noting that instead of downloading agame, users were actually downloading a remote access tool that allows hackers to take control of their device. A screenshot of the phishing website. The “Play on PC” link at the bottom of the image downloads the malware. The...
DeFi-type projects received the highest number of attacks in 2022: Report
It’s no secret that in 2022 the world of Web3 and decentralized finance (DeFi) experienced a slew of major exploits and attacks. From the Ronin bridge attack to the Nomad hack, the top 10 exploits alone saw over $2 billion lost. In the Beosin Global Web3 Security Report 2022, it revealed that of 167 major security incidents over the last year those rooted in DeFi were the most vulnerable. DeFi projects were attacked 113 times, which accounted for approx. 67.6% of recorded attacks. This is followed by attacks on exchanges, nonfungible token (NFT) projects, cross-chain bridges and wallets in that order. According to the report, DeFi projects came in second in terms of monetary losses with a total of $950 million in losses. This follows the $1.89 billion lost in cross-chain bridge exploits in...
Touch, smell become the next big thing for the metaverse at CES 2023
The sense of smell has been added to the virtual reality (VR) experience as showcased by metaverse-focused companies at the Consumer Electronics Show (CES) 2023. A recent report from consulting firm McKinsey & Company predicted that the metaverse could potentially generate $5 trillion in value by 2030. However, the report noted that metaverse success would need a more developed human aspect that delivers positive experiences to its users. One of these catalysts may be the integration of the sense of smell and touch into VR experiences which were showcased at the recent CES. As reported by Fortune, one of the firms called OVR Technology showed a headset with a container for eight aromas that can be mixed together, creating various scents. The VR headset is reportedly scheduled to be rel...
BTC price 3-week highs greet US CPI — 5 things to know in Bitcoin this week
Bitcoin (BTC) starts a new week on a promising footing with BTC price action near one-month highs — can it last? In a new year’s boost to bulls, BTC/USD is currently surfing levels not seen since mid-December, with the weekly close providing cause for optimism. The move precedes a conspicuous macroeconomic week for crypto markets, with the December 2022 Consumer Price Index (CPI) print due from the United States. Jerome Powell, Chair of the Federal Reserve, will also deliver a speech on the economy, with inflation on everyone’s radar. Inside the crypto sphere, FTX contagion continues, with Digital Currency Group (DCG) at odds with institutional clients over its handling of solvency problems at subsidiary Genesis Trading. At the same time, under the hood, Bitcoin still shows signs of recove...
Huobi net outflows crossed over 60M within the past 24 hours: Report
Cryptocurrency exchange Huobi has seen over $94.2 million dollars in net outflows within the past week. Within the past 24 hours alone, approximately $60 million has flowed out of the exchange, according to crypto analytics company Nansen. In the past 24 hours, Huobi has seen a significant increase in net outflows $60.9M* of the $94.2M* net outflow in the past week occurred in the past day alone *Contains Ethereum, Avalanche, BNB Chain, Fantom, & Polygon flows pic.twitter.com/JV1Tg13QMY — Nansen (@nansen_ai) January 6, 2023 Nansen also reported that a significant portion of withdrawals were in Tether (USDT), USD Coin (USDC), and Ether (ETH), from wallets with high balances. The significant increase in outflows from the exchange was allegedly triggered by rumors circulating on Twi...
US authorities launch page to notify FTX’s alleged victims about SBF’s case
The United States Attorney’s Office for the Southern District of New York has launched a page on its website appealing to Sam Bankman-Fried’s alleged victims of fraud at FTX to come forward and informing them about court proceedings. In a Jan. 6 filing, Assistant U.S. Attorney Danielle Sassoon requested the federal court allow her office to take “reasonable, accurate, and timely notice” to inform alleged fraud victims from crypto exchange FTX while under the leadership of Bankman-Fried. According to Sassoon, the government proposed an “alternative plan” for notifying victims in the FTX case through an online notice which went live on Jan. 6. According to the court filing, the number of victims in the FTX case — more than one million creditors — made it “impractical” to rely on more traditi...
Mexico’s digital peso delayed, launch date unclear
More than a year after it was announced, Mexico’s proposed central bank digital currency (CBDC) is still in the initial phase and unlikely to meet its 2024 launch date. According to local media reports, Mexico’s central bank, known as Banxico, is working on legal, administrative and technological requirements for the peso’s digital version. In December 2021, the local government announced its plan to introduce a national digital currency, noting in a tweet that the “new technologies and next-generation payment infrastructure” would improve Mexico’s financial inclusion. While that tweet mentioned a launch in 2024, a year later, authorities are avoiding predicting a launch date. “The result of this initial phase entails the preparation of a budget that is currentl...
Why DeFi should expect more hacks this year: Blockchain security execs
Decentralized finance (DeFi) investors should buckle themselves up for another big year of exploits and attacks as new projects enter the market and hackers become more sophisticated. Executives from blockchain security and auditing firms HashEx, Beosin and Apostro were interviewed for Drofa’s An Overview of DeFi Security In 2022 report shared exclusively with Cointelegraph. The executives were asked about the reason behind a significant increase in DeFi hacks last year, and were asked whether this will continue through 2023. Tommy Deng, managing director of blockchain security firm Beosin, said while DeFi protocols will continue to strengthen and improve security, he also admitted that “there is no absolute security,” stating: “As long as there is interest in the crypto market, the number...
Price analysis 1/6: BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, DOT, LTC, UNI
The United States December nonfarm payrolls report showed a growth of 223,000 jobs, above the market’s expectation of an increase of 200,000 jobs. While this shows that the economy remains strong, market observers shifted their focus to the slower wage growth of 0.3% for the month, below economists’ expectation of 0.4%. In addition, the euro zone’s headline inflation dropped from 10.1% in November to 9.2% in December. Both economic data boosted hopes that the central bank’s aggressive rate tightening may slow down. This triggered a rally in the U.S. and European stock markets. Daily cryptocurrency market performance. Source: Coin360 However, the reaction in the cryptocurrency space remains muted, with Bitcoin (BTC) continuing to trade inside a narrow range. The crypto investors...
December DeFi exploits were the lowest in 2022: Finance Redefined
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. The end of 2022 saw the least value of stolen funds from DeFi, with $62 million worth of exploits in December. While the figure might seem a relief given the multiple bridge hacks and hundreds of millions of dollars stolen this year, cybersecurity experts have warned that the ecosystem would see no decrease in exploits, flash loans or exit scams in 2023. Lido protocol overtook MakerDAO to have the highest total value locked (TVL) in the DeFi ecosystem. In other news, Mango Markets hacker Avraham Eisenberg was detained pending trial. The start of the new year saw a GMX whale hacked for $3.5 million worth of GMX tok...
Bitcoin, Sango Coin and the Central African Republic
In the spring of 2022, the Central African Republic (CAR) became the first African country to adopt Bitcoin (BTC) as a legal tender. As the second country globally to recognize Bitcoin in such a fashion, the CAR followed in El Salvador’s footsteps. El Salvador has since boasted surging tourism numbers, a resilient economy and a healthy amount of free PR since allowing its citizens to make everyday purchases with the seminal cryptocurrency. The CAR, a substantially less economically developed economy than its Central American counterpart, would hope to emulate El Salvador’s success. Despite the nation’s vast natural resource wealth, the CAR is plagued by economic mismanagement, meager private and foreign investment, and systemic governmental issues. It is one of the poorest countries on the...
Digital Currency Group under investigation by U.S. authorities: Report
Crypto conglomerate Digital Currency Group, or DCG, are under investigation by the United States Department of Justice’s Eastern District of New York (EDNY) and the Securities and Exchange Commission (SEC), according to a Bloomberg report. The authorities are digging into internal transfers between DCG and its subsidiary crypto lending firm Genesis Global Capital, noted the report citing people familiar with the matter. Prosecutors have already requested interviews and documents from both the companies, while the SEC is running an early-stage similar inquiry. As of yet, no indictment has been brought against DCG, nor have both U.S. authorities provided any information about the case. According to a spokesperson for DCG, the company was unaware of the investigation. “DCG h...
