Day: March 16, 2023

ChipMixer, Cryptocurrency Mixer Shut Down for Allegedly Laundering Over $3 Billion in Illicit Transactions

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Cryptocurrency service ChipMixer has been shut down by authorities in the US and Germany for its alleged involvement in laundering over $3 billion in illicit transactions since 2017. The platform was reportedly used by ransomware groups, suspected North Korean hackers, and darknet market users to obfuscate the source of stolen cryptocurrency. Europol revealed that up to $46.3 million in crypto had been seized from ChipMixer. One North Korean cyberattack alone, against the online game Axie Infinity and Horizon Bridge, saw $700 million in stolen funds processed by the mixer, according…

FTX influencers face $1 Billion class-action lawsuit over alleged crypto fraud promotion

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A class-action suit led by Edwin Garrison has been filed against “FTX influencers,” mostly on YouTuber, seeking $1 billion because they “promoted FTX crypto fraud without disclosing compensation.” The suit was filed March 15 in the Southern District of Florida Miami Division. Kevin Paffrath, Graham Stephan, Andrei Jikh, Jaspreet Singh, Brian Jung, Jeremy Lefebvre, Tom Nash, Ben Armstrong, Erika Kullberg and Creators Agency LLC were named as respondents. The Moskowitz Law Firm is representing the plaintiffs. The suit is a consolidation of several class actions suits, according to the law…

The Banking Crisis Has Been Good for Stablecoin Experimentation

If you balk at the idea of a crypto-based tool like stablecoins essentially functioning like a “proxy” central bank digital currency (CBDC), as host Ryan Sean Adams suggested, making Allaire smile, then you’re likely not alone. Stablecoins may be the bridge between crypto and the real economy, but they should also retain some of the aspects that make crypto crypto, beyond 24-hour access and a different transaction settlement mechanism. Censorship resistance is all but impossible if crypto nuzzles close to the banking system. Source

Shiba Inu community divided over allegations of code, chain ID plagiarism

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A series of events erupted in the official Shiba Inu (SHIB) Discord on Mar. 17, when a top-ranked community member, Steve, alleged identical chain IDs between that of the Shibarium layer-2 beta testnet ID and the Rinia testnet ID, an existing blockchain. “So why is it that it looks like shibarium test net has taken rinia testnet genesis file Changed the name from renia But forgot to change the chain ID Rinia has been live and owned that chain Id since Feb. And was planned in December.” Steve also alleged…

Crypto Exchange Orca to Block US Traders From Website

CryptoX – Cryptocurrency Analysis and News Portal In a notice published to its website Thursday, Orca said it is “adding the United States to the regions and countries which are restricted from trading on orca.so,” its website. The notice did not provide a reason for the move or why it was coming now. Orca co-founder Grace Kwan did not immediately respond to a request for comment. Source The post Crypto Exchange Orca to Block US Traders From Website appeared first on CryptoX. CryptoX Portal

ARB Token Trending on Twitter After Arbitrum’s Airdrop Announcement

CryptoX – Cryptocurrency Analysis and News Portal Currently, ARB is the sixth trending twitter topic in the United States with more than 10,000 tweets. Arbitrum posted a 93-second short movie that ends with Ed Felten, co-founder of Offchain Labs saying, “Let’s build Arbitrum together. 3.23.” The tweet has 1.4 million views. Original Source The post ARB Token Trending on Twitter After Arbitrum’s Airdrop Announcement appeared first on CryptoX. CryptoX Portal

Blockchain Association seeks info from Fed, FDIC and OCC on ‘de-banking’ crypto firms

The United States-based crypto advocacy group Blockchain Association called on financial regulators to provide information related to the potential “de-banking of crypto firms” in the wake of the failures of the Signature, Silicon Valley Bank and Silvergate banks. In a March 16 notice, the Blockchain Association said it had submitted Freedom of Information Act requests to the Federal Deposit Insurance Corporation, the board of governors of the Federal Reserve System and the Office of the Comptroller of the Currency for documents and communications that could potentially show regulators’ actions “improperly…