Author: John Smith
The Economic and Financial Crimes Commission in Nigeria arrested 792 individuals allegedly involved in crypto investment and romance scams. The suspects, including 148 Chinese nationals, 40 Filipinos, and others from various countries, were apprehended on December 10, 2024, during a raid on the Big Leaf Building in Victoria Island, Lagos. EFCC Chairman Ola Olukoyede, speaking through the agency’s Director of Public Affairs, Wilson Uwujaren, revealed that the suspects used the seven-story facility to train Nigerian accomplices in fraudulent activities. Investigators recovered over 500 SIM cards and high-end computer equipment used to target victims across North America, Europe, and other regions.…
Bitcoin price rallied to a record high of $108,000 on Dec. 17, continuing a bull run that began in 2023. Bitcoin (BTC) has surged by nearly 150% this year, driven by rising demand and decreasing supply growth. The unwinding of high interest rates by the Federal Reserve and other central banks has also contributed to this upward momentum. Data from SoSoValue shows that spot Bitcoin ETFs have accumulated over $36 billion in assets, bringing their combined total to more than $120 billion. This growth indicates that Bitcoin is increasingly competing with gold for investor attention. People asking me about this.…
The 2022 LastPass data breach has allowed threat actors to steal 12.38 million from users in a new attack. According to blockchain sleuth ZachXBT, the LastPass hackers stole millions in Ethereum (ETH) from over 100 wallet addresses between Dec. 16 and Dec. 17. The criminals quickly swapped the ill-gotten wealth from ETH to Bitcoin (BTC), using multiple instant exchanges. A list of affected addresses may be found here. LastPass is a password management service for securing cryptocurrency wallets. The startup suffered two hacks in 2022 – once in August and again in October – resulting in unauthorized access to customer keys,…
The U.S. Department of Justice is set to reimburse victims of a wire fraud scheme, aided by the tripling value of Bitcoin since the cryptocurrency was seized. The scheme, which targeted real estate transactions, resulted in millions of dollars in losses for businesses and individuals. In December 2023, fraudsters infiltrated systems used in real estate transactions, sending fake wire transfer instructions to divert funds intended for mortgages and other payments. One company reported losing over $1 million. Investigators later uncovered at least ten additional victims, with individual losses ranging from $75,000 to $425,000, according to the DOJ. The stolen funds…
Tether, the company behind the USDT stablecoin, made an investment in the European firm StablR. The investment comes as the European Union prepares to implement the Markets in Crypto-Assets regulatory framework on December 30, 2024. MiCA sets clear compliance standards for stablecoin issuers, providing legal certainty in a previously fragmented regulatory environment. StablR has introduced two stablecoins, EURR and USDR, designed to streamline transactions and offer cost savings for users. Stablecoins are digital currencies pegged to a fiat currency, like the euro or dollar, to minimize price volatility. These tokens play a critical role in facilitating cross-border payments and improving liquidity…
Centralized exchange tokens are doing well as most experienced a strong surge in volume amid the ongoing bull run. Bitget Token (BGB) has emerged as the best-performing CEX token as it jumped to a record high of $3.9672. It has soared by more than 545% from its lowest level this year, giving it a market cap of over $5.2 billion. Cronos (CRO), which is associated with Crypto.com, rose by over 20% on Dec. 17, valuing it at over $5.1 billion. Binance Coin (BNB) token, on the other hand, has remained in a consolidation phase at its all-time high in the…
Ethereum price has stalled at the resistance level of $4,000, but on-chain metrics and other external factors points to more gains. Ethereum (ETH), the second-largest cryptocurrency by market capitalization, was trading at $4,008. But the momentum failed to continue as it has faced resistance over the past three consecutive weeks. Still, ETH has positive catalysts that could push its price higher in the near term. The first main catalyst is that Bitcoin (BTC) has continued rising and moved to a record high this week. Altcoins like Ether often follow the price of Bitcoin. Spot Ethereum ETFs are also seeing strong…
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Blockchain and tokenomics are changing gaming, merging crypto economics with GameDev for decentralized ecosystems. The gaming industry has been characterized by fast evolution for its entire life cycle. Still, it seems like there’s yet another transformation that is ushering with the advent of blockchain technology and cryptocurrencies. Once we cross over to 2025, incorporating tokenomics into game development (GameDev) will change how we engage with them, own them, and make money off of them. The combination of gaming and…
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Shiba Inu coin shines with DeFi growth and Shibarium launch, while Lightchain AI Presale attracts early investors. The cryptocurrency landscape is constantly evolving, and Shiba Inu Coin (SHIB) has emerged as a standout player in recent months. Since its launch in 2020, SHIB has built a massive following with its meme-inspired branding, community-driven approach, and ambitious ecosystem developments, including decentralized finance (DeFi) applications and its upcoming Layer 2 solution, Shibarium. Alongside SHIB’s rise, exciting new projects like Lightchain AI…
Nuffle Labs, a universal restaking platform, and Wormhole, an interoperability protocol, have announced a new solution to connect different blockchain networks through native cross-chain restaking. This solution hopes to allow users to restake their assets without relying on token bridges, a process that often carries security risks. The integration uses Wormhole’s (W) messaging system and Nuffle Labs’ new Fast Finality AVS to enable secure interactions across various blockchain networks, according to a note shared with crypto.news from Nuffle Labs. Restaking assets By incorporating EigenLayer’s restaking infrastructure, the system allows users to restake assets on any blockchain that supports Layer 1…