Bitcoin ATMs, once viewed as a convenient way to buy or sell cryptocurrency, are increasingly becoming prime targets for cybercriminals. The machines, often placed in gas stations and convenience stores across the United States, are susceptible to both digital and physical attacks, according to cybersecurity experts. A recent report from the Federal Trade Commission (FTC)...
Singapore authorities are conducting an investigation into the unauthorized sale of Worldcoin accounts, raising concerns about potential data misuse and criminal activities such as money laundering and terrorism financing. The controversial cryptocurrency project, known for its use of iris biometric data, has come under scrutiny from regulators worldwide. On Sept. 9, Deputy Prime Minister Gan...
In a stark reversal from previous weeks of inflows, US-listed spot Bitcoin exchange-traded funds (ETFs) experienced a substantial outflow of $287 million on September 3, leading to a price drop with Bitcoin trading around the $56,000 mark. This trend mirrors the recent performance of Ethereum-linked ETFs, which also saw consecutive days of outflows, with ETH...
The FBI has issued a new warning about North Korean hackers targeting employees at decentralized finance (DeFi) and cryptocurrency firms. According to the alert dated September 3, these cybercriminals are using sophisticated social engineering techniques to steal funds from these companies. The tactics include posing as reputable figures or offering fictitious job or investment opportunities...
Elon Musk and Tesla have successfully defeated a lawsuit accusing them of manipulating the price of Dogecoin, leading to $258 billion in alleged damages. On August 29, 2024, U.S. District Court Judge Alvin Hellerstein dismissed the case, asserting that no reasonable investor could rely on Musk’s tweets as sound investment advice. The lawsuit, filed in...
While crypto investors faced significant losses during the wave of bankruptcies in 2022, law firms have profited substantially, earning a collective $751 million in fees from the Chapter 11 cases. As of August 2024, four major law firms—Sullivan & Cromwell, Kirkland & Ellis, White & Case, and Cleary Gottlieb—dominated the earnings, taking home $484 million,...
India is advancing its efforts to simplify cross-border payments by developing a plug-and-play system. The initiative aims to create a flexible and scalable framework that can be easily adapted by different countries, thereby making international money transfers as straightforward as domestic transactions. This move is part of a broader strategy centered on Digital Public Infrastructure...
Representative Mike Collins, who serves Georgia’s 10th Congressional District in the U.S. House of Representatives, has disclosed investments in three altcoins during his time in office. According to financial disclosure reports filed between July and August 2024, Collins revealed purchasing up to $15,000 in Velodrome (VELO), up to $15,000 in The Graph (GRT), and up...
Launched in 2023, PayPal USD (PYUSD) is a dollar-backed stablecoin issued by Paxos Trust Company, a US-regulated crypto custodian. As an Ethereum-compatible ERC-20 token, PYUSD competes in the stablecoin market alongside industry giants such as Tether (USDT) and Circle’s USD Coin (USDC). However, despite PayPal’s significant efforts to broaden PYUSD’s accessibility, the stablecoin remains far...
Tether, the issuer behind the world’s largest stablecoin, USDT, has decided against launching its own blockchain, citing market saturation and strategic concerns. Paolo Ardoino, Tether’s CEO, shared in an interview with Bloomberg News that the company’s decision stems from an analysis of the current blockchain landscape, where numerous platforms already offer similar functionalities. Ardoino explained...
