Tag: Report

‘Inferno Drainer’ scam as a service has stolen $5.9M since March: Report

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A new scam as a service called “Inferno Drainer” has reportedly stolen nearly $6 million from unsuspecting crypto users, according to Web3 scam-detecting firm Scam Sniffer. Inferno Drainer reportedly advertises that it provides ready-to-go code to scammers, allowing them to steal crypto in exchange for a 20% cut of the scammer’s crypto “loot.” 1/ Inferno Drainer, a scam vendor specializing in multi-chain scams, has stolen $5.9 million in assets from nearly 4,888 victims through over 689 phishing websites targeting popular projects.https://t.co/OEjdzHm2Ls — Scam Sniffer (@realScamSniffer) May 19, 2023 The scam…

Australian stock exchange officially abandons blockchain plans: Report

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Australia’s stock market operator has decided to abandon its plans of rebuilding its software platform using blockchain technology, marking a significant rejection of the once-celebrated concept that gained prominence through its association with cryptocurrencies. The Australian Securities Exchange (ASX) caused frustration among market participants in November when it decided to “pause” the rebuild of its comprehensive trading, settlement and clearing software based on decentralized computing. An external review concluded that after seven years of development, significant rework was necessary. Following the initial pause, the company has indicated that it is…

Report: Well Known Crypto Firms Still Not Adhering to Basic Governance Standards

Many of the most well-known crypto firms are not adhering to basic governance standards, the findings of a Bloomberg survey have shown. Only 31 out of the 60 polled firms “currently procure a full financial audit or reserve attestations from an independent auditor.” Industry participants have said many crypto firms are not audited because the “Big Four” accounting firms are not willing to have them as clients. Many Crypto Firms Lack Independent Boards Some of the most influential cryptocurrency firms are not adhering to established corporate governance standards and many…

Korean lawmakers rally towards crypto rules in May after grisly murder case: Report

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Lawmakers from South Korea are pushing to enshrine stricter regulation of digital assets in the wake of a gruesome murder case involving digital assets.  According to a May 18 Bloomberg report, a Korean woman was abducted on March 29 and later murdered in a dispute believed to have stemmed from a disagreement over cryptocurrency-related losses — adding to a string of digital-asset-related scandals including Do Kwon’s Terra Money ecosystem collapse in May last year. The recent murder case has reportedly added urgency for lawmakers to expedite the nation’s first standalone crypto…

New survey says Bitcoin is safer than the US dollar — Watch The Market Report

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On May 17’s episode of The Market Report, analyst and writer Marcel Pechman discusses whether Bitcoin (BTC) is safer than the United States dollar, considering the risk of the U.S. government defaulting on its debt. He also covers why Bitcoin’s $28,000 resistance will not be a walk in the park and, finally, what is happening between Celsius, Ethereum and Lido staking. The show airs every Tuesday on the Cointelegraph Markets & Research YouTube channel. The first news article covered discusses a Bloomberg Markets survey showing Bitcoin as a top three…

US Government Will Come Down Hard on Crypto Exchanges and Mixers To Send a Message to Industry: Report

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The Department of Justice (DOJ)  is about to initiate a crackdown on the crypto industry in a purported effort to prevent the flow of illicit funds. According to a report from the Financial Times (FT), the DOJ’s top crypto enforcement tsar Eun Young Choi is promising a new wave of scrutiny over crypto exchanges and mixing services. Choi says that the government is now digging its heels deeper into the industry as she says that the scale of crime within it has grown “significantly.” She says the platforms that commit…

OpenAI preps release of open source AI model: Report

An open-source artificial intelligence (AI) model is reportedly being prepared for public release by OpenAI, the firm behind the AI chatbot ChatGPT. In a May 16 report in The Information citing a person with knowledge of the plan, OpenAI is undertaking the move as pressure mounts from competing open-sourced AI models, such as those from Meta released in February. The timeline of when the model would be released was not reported. If OpenAI release a truly open-source model it would send progress stratospheric — Alex MacCaw (@maccaw) May 15, 2023…

ChatGPT creator OpenAI is releasing an open-source AI model: Report

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An open-source artificial intelligence (AI) model is reportedly being prepared for public release by OpenAI, the firm behind the AI chatbot ChatGPT. In a May 16 report in The Information citing a person with knowledge of the plan, OpenAI is undertaking the move as pressure mounts from competing open-sourced AI models, such as those leaked from Meta in February. The timeline of when the model would be released was not reported. If OpenAI release a truly open-source model it would send progress stratospheric — Alex MacCaw (@maccaw) May 15, 2023…

Japan leads world in losses from North Korean crypto hacking with 30% of total: Report

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Japan is the biggest loser of cryptocurrency to North Korean hackers, according to a study by blockchain analyst Elliptic. Asian countries make up three of the four top targets for the so-called Hermit Kingdom’s hackers, Elliptic found. The study, commissioned and reported on by Japanese financial publication Nikkei, looked at losses of cryptocurrency from cyberattacks originating in North Korea from 2017 through 2022. The study took into account both hacking and ransomware attacks. It described the attacks as a “national strategy.” Related: Binance to reenter Japan via acquired regulated exchange…

Rakuten Shares Drops 9% on Report of Possible $2.2B Public Offering

Rakuten shares gained approximately 7.9 percent YTD despite dropping about 20 percent last year. Shares of Rakuten Group Inc (Tokyo: 4745) closed Monday trading at ¥643, down 9.05 percent from the day’s opening price. The sudden drop in Rakuten shares was attributed to the announcement by Reuters that the company is in the final stages of issuing new shares in a bid to raise approximately $2.2 billion. According to the media outlet, Rakuten plans to issue shares to founder and CEO Hiroshi Mikitani and a fund controlled by the entrepreneur.…