Day: August 23, 2022

AMM protocol SudoRare disappears from the internet with 519 ETH

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SudoRare, an automated market maker (AMM) protocol for ERC-721 to ERC-20 swaps, suddenly shut down its services and social media accounts after reportedly making away with 519 Ether (ETH), worth roughly $815,000.  A crypto community member, sungjae_han, was first to point out a suspicious transaction that drained substantial funds off SudoRare using LooksRare (LOOKS) and USD Coin (USDC) tokens. #PeckShieldAlert #rugpull Seems like @SudoRare rugged 519 $ETH (~$815k). SudoRare already deleted its social accounts/groups, sudorare[.]xyz is downStole funds already transferred to 3 new addresses (173 $ETH/address):0x75c3b2…39810x0498d1…80740xbFb784…7EAa https://t.co/mPC4bl4k6W pic.twitter.com/O5D7jThYvm — PeckShieldAlert…

How Did Deepfake Tech Drain a Brazilian Crypto Exchange Out of Liquidity?

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A sophisticated scam using deepfake tech managed to drain liquidity from a Brazilian crypto exchange. In June 2022, the FBI issued a warning that fraudulent investment scams on LinkedIn are rising. Take Advantage of the Biggest Financial Event in London. This year we have expanded to new verticals in Online Trading, Fintech, Digital Assets, Blockchain, and Payments. As LinkedIn is widely used for business networking, many find investment offers on the social media platform to be legitimate. Sean Ragan, the FBI’s special agent in charge of the San Francisco and…

Coinbase Faces Class Action Lawsuit Over Alleged Lapses in Security

“If that fails to resolve the customer’s dispute, only then can customers attempt to resolve disputes through arbitration. But Coinbase systemically fails to follow those pre-arbitration dispute resolution mechanisms as set forth in the User Agreement, thereby rendering the provision, including its delegation provision, void …,” the filing said. Source

7 Ways to Incorporate Cryptocurrency into Your Business

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As they are not subject to total regulation by any central banking authority, cryptocurrencies not only offer businesses a higher level of security, but also lower transaction costs. Apart from their intended use as payment methods, cryptocurrencies can also be used as investment vehicles to help businesses grow. Additionally, these technologies can be used to attract and retain particular target markets. For example, businesses that use crypto will be better able to attract tech-savvy, transnational, or entrepreneurially-minded individuals as customers or partners. How Can Your Business Get Started with Using…

AMAZY Takes Move&Earn to The Next Level

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AMAZY’s entry into the move-2-earn space had defined what the term really meant. Taking from the popular play-2-earn genre, the platform had redefined what it meant to get people to move while getting profit from it. The rewards from AMAZY were not the only thing that set it apart from the space, though. It boasts its own marketplace where users can trade non-fungible tokens (NFTs) with all operations based on the blockchain. This makes it a completely transparent platform. AMAZY decided that focusing on move-2-earn sphere only might limit the…

Ethereum community splits over solutions for transaction censorship

The Ethereum (ETH) community has been divided over how to best respond to the threat of protocol-level transaction censorship in the wake of the United States government sanctions on Tornado Cash-linked addresses.  Over the last week, Ethereum community members have proposed social slashing or even a user-activated soft fork (UASF) as possible responses to transaction-level censorship on Ethereum, with some calling it a “trap” that will do more harm than good and others stating its necessary to provide “credible neutrality and censorship resistance properties” on Ethereum. The heated debate comes…

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Iranian Association Calls for Stable Crypto Regulation as Government Plans Widespread Use of Crypto in Foreign Trade – Regulation Bitcoin News

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Iran’s association of importers has stressed the need for a stable regulatory framework for cryptocurrencies now that the Iranian government is officially using crypto to pay for imports. “By the end of September, the use of cryptocurrencies and smart contracts will be widespread in foreign trade with target countries,” a government official said. Imports Association: Iran Needs Stable Crypto Regulation Alireza Managhebi, the chairman of Iran’s Importers Group and Representatives of Foreign Companies (Imports Association), voiced concerns about the country’s crypto regulation Saturday, local media reported. He stressed that a…