Crypto Guides, Knowledge & Insights

The US is retaliating against North Korean cyber strikes.

According to the statement, state-sponsored North Korean hackers used a new strain of ransomware named “Maui” to lock the systems of two hospitals in Kansas and Colorado in May 2021 and April 2022. To restore access to their computers, the medical centers had to pay ransoms of about $100,000 and $120,000 in Bitcoin to the cyber criminals.　　The Kansas hospital notified the FBI, who was then able to trace the cryptocurrency ransom to money launderers in China. The FBI was able to acquire access to the receiving accounts, seize the assets, and eventually restore the money to the victim institutions in May 2022.　　“Reporting cyber events to law enforcement and helping with investigations not only protects the United States, but its also smart business,” Assistant Attorney General Matthew G. Olsen added. “Reimbursement to ransom victims demonstrates why it pays to collaborate with law enforcement.”　　It is unclear where the extra $280,000 seized came from, or how Bitcoin price fluctuations affected the final amount collected. In addition, no arrests were mentioned in the announcement.　　North Korean hackers have been a significant presence in the bitcoin world. The state-sponsored cyber group Lazarus Group abused the Ronin bridge for about $551.8 million at the start of the

2022-07-21Deep Dive

Remooz.com, a Hyperledger Fabric-based Platform, has launched an NFT Marketplace.

A rising number of celebrities, including artists, athletes, and movie stars, have taken an interest in the digital token, generating and selling their own series of NFTs.　　The most recent NFT platform will be a marketplace that will allow collectors, artists, and regular people who are unfamiliar with NFT technology to make, purchase, and resell NFTs via blockchain-backed transactions.　　The networks digital assets are traded in US dollars, providing a significant opportunity for businesses, investors, users, and ordinary people to establish a user-friendly, highly accessible, and socially involved platform.　　The Remooz NFT marketplace platforms strength is its Hyperledger Fabric blockchain.　　The Linux Foundation launched Hyperledger Fabric in 2015 as an open, proven, enterprise-grade distributed ledger platform.　　It employs a modular, general-purpose framework with distinct identity management and access control capabilities, making it ideal for a wide range of industry applications such as supply chain tracking and tracking, trade finance, loyalty and rewards, financial asset management, clearing and settlement, and so on.　　Remooz, based on this blockchain, can become a partner and collaborate to boost the companys business development.　　Marwan Salem, Remoozs Co-founder and CEO, commented, “Whether serving the business-to-consumer (B2C) or business-to-business (B2B) segments, Remooz is revolutionizing the blockchain architecture and making NFTs accessible to all.”　　GameStop Corp,

2022-07-20Deep Dive

What Will Happen If Crypto Markets Surge Above $1 Trillion in Value?

At the time of writing, the total crypto market cap was $1,065,628,469,022.754, owing to the significant rise in the prices of Bitcoin (BTC) and Ethereum (ETH), respectively. While Bitcoin has risen by more than 6% to $23,385 in the last 24 hours, Ethereum has risen by more than 3% to $1,561 in the same period.　　Market bulls, particularly those holding onto their bags, would be relieved by this trend because it indicates that the digital currency ecosystem may be revitalized even in the absence of any noteworthy factor fueling the positive emotions.　　With Bitcoin reaching its highest level in a month after falling as low as its 18-month performance last month, suspicions are developing about the market pausing and easing out of the threatening crypto winter.　　Worst Days Could Still Be Ahead. Without sounding too pessimistic, the current spike in crypto prices is most likely a natural bullish corrective following the several-week-long market collapse.　　Some of the most important events are still to come, such as the US Federal Open Market Committee (FOMC) meeting at the end of this month. With inflation significantly higher than expected, the Feds may be obliged to hike interest rates again, most likely by more than the 75 basis

2022-07-20Deep Dive

Su Zhu, among others, files a $5 million claim against his own company, according to sources.

Su Zhu, among others, files a $5 million claim against his own company, according to sources.　　Su Zhu, the co-founder and CEO of bankrupt Three Arrows Capital (3AC), is said to be one of the creditors who filed claims against the beleaguered crypto hedge fund.　　This information was given by a Twitter account known as Soldman Gachs, who also claimed to be one of Three Arrows Capitals creditors.　　“I just saw the list of creditors to #3AC and noted that @zhusu has filed a $5 million claim.” “While on the run, he has found the time to methodically and mercilessly fill out documents in order to pursue a claim against his own Fund,” he claimed in a tweet.　　While Su Zhus claim against his own firm may appear strange, Soldman Gachs also stated that ThreeAC Limited, 3ACs investment manager, filed a $25 million lawsuit against Three Arrows Capital. The creditor also revealed a list of the companys other creditors, including Digital Currency Group (DCG), Algorand, CoinList, and the MoonBeamNetwork, among others.　　Teneo Restructuring disclosed the list of creditors for the first time after being appointed by a British Virgin Islands (BVI) court to manage 3ACs liquidation procedure. These creditors were apparently scheduled to meet on

2022-07-20Deep Dive

Another Twitter Hack Hits the NFT Community

Another phishing scam has hit the non-fungible token (NFT) community, with the latest target being the social media accounts of NFT influencer Zeneca.　　The compromised Twitter and Discord accounts linked to a fake airdrop for the influencers “Zen Academy Founders Pass,” tricking unsuspecting users into connecting their wallets. The damage from the attack remains unknown.　　Hey everyone wanted to do something special for the community so here I go!　　I would like to announce the official release of the Zen Academy Founders Pass airdrop.　　There will be 333 of these passes to start off. The lucky few that manage to get one (1/2)　　— - (@Zeneca_33) July 19, 2022　　The hack is believed to be a part of a widespread threat against the NFT community, first alluded to on Monday in a tweet by the Bored Ape Yacht Club creator Yuga Labs.　　Users began flagging Zeneca‘s account as compromised within minutes of the tweet being sent. Justin Tayler, Twitter’s head of consumer product marketing, locked down the account 40 minutes after the hack took place. 　　The hack is far from the first of its kind targeting the NFT community, with Discord scams and impersonations becoming increasingly common. The last significant hack came in early June, when a

2022-07-20Deep Dive

Voyager Digital asks the court to grant its withdrawal request.

The Federal Bankruptcy Court has granted Voyager Digital permission to execute user withdrawals.　　According to a recent court filing, Voyager is demanding a judicial permit to approve users withdrawal petitions. The sum is in excess of $350 million. The monies are held in a For Benefit of Customers (FBO) account at New Yorks Metropolitan Commercial Bank.　　This line is being pursued by the company in order to alleviate customer concerns and restore investor trust. According to the company, “failing to honor consumer withdrawals any longer could materially impair customer morale.”　　Recall that on July 4, Voyager Digital halted withdrawals on its platform due to a market collapse. The company stated at the time that the move would give it time to consider potential solutions to the issues caused by the current negative run.　　Shortly after, the ailing firm filed for chapter 11 bankruptcy protection in order to retain its assets and maximize consumer value.　　The failing company claims to have $1.3 billion in crypto assets on its platform and over $350 in its FBO account with Metropolitan Commercial Bank.　　In addition, Voyager claims to have claims in excess of $650 million with Singapore-based Three Arrows Capital.　　Along with its appeal for authorization to honor withdrawals, Voyager also

2022-07-19Deep Dive

Lines, a cryptocurrency messaging platform, raises $4 million in a seed round.

Lines, the cryptocurrency messaging platform, has raised $4 million in a seed round, according to co-founder Shail Handa.　　Former Twitter VP Elad Gil led the funding round. Hash3, Scalar Capital, Volt Capital, Caffeinated Capital, Ethereal Ventures, Whimsy, Naval Ravikant, Balaji Srinivasan, and Gokul Rajaram were also present.　　“A rapidly growing number of people are using crypto pseudonyms to buy digital currency, swap NFTs, vote on proposals, and manage treasuries,” The Block reported. “The issue is that when someone attempts to communicate with another person in this network, there is no way of knowing whether or not they are speaking to the correct person.”　　Former Twitter VP Elad Gil led the funding round. Hash3, Scalar Capital, Volt Capital, Caffeinated Capital, Ethereal Ventures, Whimsy, Naval Ravikant, Balaji Srinivasan, and Gokul Rajaram were also present.　　“A rapidly growing number of people are using crypto pseudonyms to buy digital currency, swap NFTs, vote on proposals, and manage treasuries,” The Block reported. “The issue is that when someone attempts to communicate with another person in this network, there is no way of knowing whether or not they are speaking to the correct person.”　　Handa went on to say that this could be one of the reasons for hacks and scams

2022-07-19Deep Dive

Globant Survey: Most Gamers Believe Metaverse Will Change the Gaming Industry Positively

Metaverse Tech Might Change the Gaming Industry, Globant Survey Finds　　The sentiment of gamers toward metaverse tech and its influence on the future of the industry is changing to a more positive light. A new survey, titled “Metaverse Awareness Survey,” published by Globant, a software and tech company in partnership with Yougov, found out that gamers believe that the buzz around the metaverse is justified.　　The survey, which touched on other metaverse-related subjects like NFTs, consulted 1,000 gamers about the importance of the metaverse for the interactive entertainment industry. More than half of the surveyed believe that metaverse and its tech will impact the sector, with 41% of this group stating it will do it in a positive way, with 25% disagreeing about this issue.　　Advertising is also still seen badly by gamers in the metaverse, with only 35% being comfortable with advertising in these spaces. Only 44% would accept advertising in the metaverse if there was some kind of reward associated, like access to apps.　　Nicolas Avila, CTO for Globant in North America stated:　　Through this survey, we see that although the development of the metaverse is still in its early stages, U.S. gamers already see the technology as capable of expanding the realm

2022-07-19Deep Dive

In the first half of 2018, crypto investments fell by nearly 25% to around $9.3 billion.

Venture capital firms investment in the crypto space has dropped nearly 25% from a record $12.5 billion in the first half of last year to around $9.3 billion in the first six months of this year.　　Despite the fact that deal value has decreased, deal volume has increased, with 534 deals announced in the first half of this year compared to 456 in the same period last year.　　In the second quarter, investment data remained stable. More than $4.2 billion was invested in venture-backed crypto startups, a slight increase over the same period last year.　　Although this is a $1 billion decrease from the previous quarter and well below the record high of $6.1 billion set in the fourth quarter of last year, it is still a good result in the cryptocurrency markets winter.　　Six rounds of $400 million or more were completed in the first quarter. Under the alias Negentropic, Glassnode co-founders explained:　　“$17 billion in VC crypto investments and 1,000 deals in 2022.” The median deal size this year has been $4.5 million. Capital is pouring into BTC and altcoins, laying the groundwork for a strong recovery.　　Following Bitcoins 1,300 percent gains in 2018, venture capital funding nearly quadrupled to its previous high of

2022-07-19Deep Dive

300+ NFTs Stolen, $400K in Ethereum Taken In Premint Hack

On Sunday, hackers infiltrated popular NFT registration platform Premint and made away with 320 stolen NFTs and more than $400,000 in profit in one of the biggest such hacks this year.　　According to analysis by blockchain security firm CertiK, the hackers compromised the Premint website on Sunday with malicious JavaScript code. They then created a pop-up within the site that prompted users to verify their wallet ownership, ostensibly as an additional security measure.　　Multiple users quickly realized the pop-up was illegitimate and immediately took to Twitter and Discord to warn others not to follow its instructions. Even so, within minutes, the hackers had already duped several Premint customers.　　The pilfered NFTs included those from popular collections Bored Ape Yacht Club, Otherside, Moonbirds Oddities, and Goblintown. After securing these NFTs, the hackers immediately began flipping them on marketplaces like OpenSea; one stolen Bored Ape nabbed a price of 89 ETH, or around $132,000.　　Over the course of Sunday, the hackers collected 275 ETH, or just over $400,000, in sales of all 320 stolen NFTs. 　　The hackers then sent the funds to Tornado Cash, a service that pools together the cryptocurrency deposits of many users and mixes them, effectively wiping out the digital trail typically left

2022-07-19Deep Dive

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