Editor's Choice
Telegram plans to implement blockchain-based collectible NFTs for the new "Gifts" feature on the TON cryptocurrency in 2024 🎁
Telegram plans to introduce NFT support for the new "Gifts" feature this year, as announced by CEO Pavel Durov. This feature will allow users to convert animated gifts sent to friends into NFTs based on the TON blockchain.On October 5th, Telegram introduced a new "Gifts" feature, which includes the ability to send animated images with greetings. These images can be displayed on the recipient's profile in a special "Gifts" tab. In addition, users will be able to convert such gifts into Telegram's currency called "Stars."According to Durov, some gifts will be released in limited quantities, and in the future, they can be converted into NFTs. This will allow users to sell and trade gifts on third-party platforms with ownership recorded on the blockchain.
The Hong Kong SFC plans to issue licenses to 11 crypto platforms by the end of the year, with Hong Kong Virtual Asset Exchange, OSL, and HashKey already approved 📃
The Hong Kong Securities and Futures Commission (SFC) plans to approve a new batch of licenses for crypto platforms by the end of this year. Currently, 11 platforms are being considered for such licenses.China's Securities Regulatory Commission Head, Liang Fengyi, stated in an interview with the news outlet Hong Kong 01 that licenses would be issued in batches for virtual asset trading platforms (VATP). Recently, the SFC has already issued licenses to three crypto exchanges, including the Hong Kong Virtual Asset Exchange, OSL Exchange, and HashKey Exchange.In addition to the already licensed platforms, 11 more platforms have applied for licenses and are awaiting approval. Liang Fengyi noted that regulators have conducted the first stage of on-site inspections and required applicants to make necessary adjustments.Liang emphasized that by the end of the year, regulators plan to significantly advance the regulation of virtual assets by issuing new licenses for VATPs. "Applicants that do not meet the requirements will lose the opportunity to obtain a license, while companies that meet the requirements will receive a license under conditions," she added.
Hackers stole more than 116 million USD from cryptocurrency exchanges in September 2024, BingX lost over 44 million USD, total exchange losses for the year exceeded 1.3 billion USD 💰
In September 2024, according to a Binance report, hackers stole more than 116 million USD in cryptocurrency, which is eight times the losses incurred in August. Centralized exchanges were the main targets, suffering more than 20 breaches.The biggest losses were suffered by the exchange BingX, which lost over 44 million USD. The attack occurred on September 19, after which the company temporarily suspended operations for "wallet maintenance." Despite significant losses, BingX representatives assured users that the damage was minimal and compensation would be provided.Other victims included the decentralized exchange PenPie, which lost 27 million USD, and the platform Indodax, with losses of 21 million USD. The DeFi platform Delta Prime lost almost 6 million USD.Some platforms, such as Shezmu, managed to partially recover lost funds through negotiations with the hackers. Nevertheless, since the beginning of the year, total losses from breaches across cryptocurrency exchanges have exceeded 1.3 billion USD.
The Lazarus Group from North Korea has stolen $900 million in cryptocurrencies through cross-chain schemes, with the total laundered funds exceeding $7 billion 💰
According to data from the analytics company Elliptic, the Lazarus hacker group, linked to North Korea, has stolen approximately $900 million in cryptocurrency between July 2022 and July 2023, using cross-chain crime schemes. In total, more than $7 billion has been laundered through such schemes.Cross-chain crimes involve transferring cryptocurrency from one token or blockchain to another in quick succession to obscure the source of funds. This method has become a popular way to launder stolen assets, providing an alternative to traditional mixers, which increasingly face seizures and sanctions.According to Elliptic's report, the use of cross-chain bridges by Lazarus has been a key factor in a 111% increase in the volume of funds transferred through such services. Since June 2023 alone, the Lazarus group has stolen approximately $240 million as a result of attacks on Atomic Wallet, CoinsPaid, Alphapo, Stake.com, and CoinEx.Experts note that the Lazarus group employs both traditional methods of cyber espionage and sabotage as well as schemes for financial gain. Cross-chain bridges, such as Avalanche Bridge, allow criminals to process significant amounts of bitcoin and other assets while hiding their origins.Elliptic emphasizes that "hopping" between blockchains for obfuscation has become a recognized method of money laundering in cryptocurrency crimes.
The Central Bank of Russia is preparing to launch the digital ruble in July 2025 and is considering using XRP for international payments 🌍
Vitalik Buterin Donates 100 Ethereum 💰 to Defend Tornado Cash Developer 🌪️ Roman Storm, Who Faces Up to 45 Years in Prison ⛓️
Donald Trump improves his odds on Polymarket to 51% after Elon Musk's public endorsement at a rally in Pennsylvania against Democrats for threatening free speech 🗽📈
The Moscow Arbitration Court froze $372 million 💰 in the accounts of The Bank of New York Mellon and JP Morgan Chase in the Russian branches of Citibank and Morgan Chase Bank 🇷🇺 as part of a lawsuit by the Prosecutor General’s Office of the Russian Federation in the MR Bank case 🏦
The UAE is fully abolishing taxes on cryptocurrency transactions from November 15 💸 — A Stimulus for Accelerated Adoption of Digital Assets 🚀
Litecoin (LTC) dominates with 37% of cryptocurrency payments on the BitPay platform, outpacing Bitcoin (BTC) and Ethereum (ETH) thanks to low fees and transaction speed 🚀
Magic Eden and Ubisoft launch an exclusive NFT collection on the Arbitrum blockchain: with early access and dynamic metadata 🎮🚀
Elon Musk to participate in Donald Trump's rally in Butler: Possible catalyst for Bitcoin and other cryptocurrencies' growth in October 🚀💰
President of El Salvador Nayib Bukele and Vice President of Argentina Victoria Villarruel discuss Bitcoin integration and Bitcoin bonds in Argentina's economy 💰
El Salvador and Argentina discuss cryptocurrency policyPresident of El Salvador Nayib Bukele met with Vice President of Argentina Victoria Villarruel to discuss Bitcoin-related policies. During an official visit to Argentina, Villarruel expressed interest in El Salvador's Bitcoin bonds, which gained international recognition after the adoption of Bitcoin as legal tender in 2021.During the meeting, measures to integrate Bitcoin into El Salvador's economy were discussed, including fundraising projects through Bitcoin bonds. Villarruel showed interest in these bonds and their economic implications, as well as the National Digital Assets Commission, which regulates the digital assets market in El Salvador.These discussions are part of a broader dialogue on cryptocurrencies in Latin America.
Founder of Cryptocurrency Ponzi Scheme IcomTech David Carmona Sentenced to 10 Years in Prison for $8.4 Million Fraud 💰
David Carmona, the founder of the cryptocurrency Ponzi scheme called IcomTech, has been sentenced to 10 years in prison for participating in a conspiracy to commit wire fraud. According to the U.S. Attorney's Office, Carmona was the "mastermind" behind the scheme, which lured people into parting with their hard-earned money under the pretext of investing in cryptocurrency trading and mining.IcomTech promised its investors a doubling of profits every six months, but in reality, no trading or mining activities were carried out. The prosecution claims that Carmona exploited the trust of his victims, promising them financial freedom, while in fact, the company failed to deliver on its promises. As a result, many investors lost all of their investments.The total losses amounted to approximately $8.4 million, and the scheme operated from mid-2018 to late 2019. Carmona and other promoters held lavish events in the U.S. and abroad, showcasing expensive cars and luxury clothing to convince potential investors of the success of their investments. When investors began demanding their "profits," they were often denied, with various excuses being given, along with the introduction of additional hidden fees.In an attempt to raise more funds, IcomTech launched a token called "Icoms," claiming it would be accepted by various companies, but the token turned out to be practically useless, leading investors to incur even greater losses.Carmona pleaded guilty to conspiracy to commit fraud in December 2023.
Tether holds around $98 billion in U.S. Treasury bonds 💵🇺🇸, strengthening its cooperation with the U.S. government 🤝 and collaborating with the FBI 🕵️♂️, notes CEO Paolo Ardoino 🎙️
Paolo Ardoino, CEO of Tether, shared his views on the company's significant growth and its collaboration with the U.S. government. Tether holds around $98 billion in U.S. Treasury bonds, making the company one of the largest holders of U.S. Treasury securities in the world.Ardoino pointed out that Tether's success is largely due to its simple and understandable model. He emphasized that Tether has built good relations with the U.S. by complying with regulatory norms and making efforts to ensure compliance. According to Ardoino, Tether has become a "friend" of the U.S. government, closely collaborating with the Federal Bureau of Investigation (FBI) and the U.S. Secret Service.Ardoino also stated that Tether plays an important role in decentralizing U.S. debt, making the country's economy more resilient.
COPA and Unified Patents Launch Blockchain Zone Initiative to Protect Blockchain Developers from Patent Trolls 🛡️ 58% of US Court Cases Involve NPEs
The Cryptocurrency Open Patent Alliance (COPA) and Unified Patents have launched the Blockchain Zone initiative to protect blockchain developers from "patent trolls." This campaign is aimed at combating non-practicing entities (NPEs), which hold patents without creating products and often use expensive lawsuits to pressure companies into costly settlements.Protection of InnovationsNPEs account for 58% of court cases in the US. The Blockchain Zone brings together over 300 companies to protect blockchain technologies from unfounded lawsuits. COPA also provides participants with protection against unnecessary litigation, which is important for smaller developers. Unified Patents has a successful track record in fighting patent claims, and the new initiative aims to protect blockchain from similar threats.
Best news of the last 10 days
Institutional investors are switching from Ethereum (ETH) to Solana (SOL) due to high scalability and low transaction costs 🚀
Lejilex filed a federal lawsuit in Texas against the SEC seeking a preventive decision to protect cryptocurrency transactions and token listings before the launch of the exchange at the end of 2024 💼⚖️
Coinbase will remove all unauthorized stablecoins in the European Economic Area by the end of 2024 in accordance with MiCA regulations 🌍: Tether (USDT) and others will be blocked, users will be offered to switch to USD Coin (USDC) 💱
Vietnamese police have arrested five participants in a cryptocurrency scam, stealing over 17.6 billion Vietnamese dong through the “Biconomynft” platform 💰
Ethereum plans to reduce the solo staking threshold from 32 ETH to 16 ETH while increasing the network's bandwidth requirements.💻
Ethereum is considering lowering the staking threshold to decentralize the networkEthereum co-founder Vitalik Buterin stated that lowering the staking requirements would make the network more decentralized and accessible. In a recent community discussion, it was mentioned that lowering the minimum deposit for staking could contribute to the "true decentralization" of the network.Currently, solo staking requires 32 ETH, which creates significant financial barriers for users. At the current market price, 32 ETH is about $73,600. Buterin suggested reducing this threshold to 16 or 24 ETH, which he believes would increase accessibility without compromising the network's security level. To achieve this, the network's bandwidth requirements are expected to be increased.In the future, there is a consideration to reduce the minimum staking threshold to 1 ETH with the implementation of the orbit SSF (single slot finality) mechanism. This mechanism would accelerate transaction finalization and improve validator set management, increasing the network's economic security.As of the time of publication, the total amount locked in staking is 34,456,696 ETH from 1,077,689 validators.
Nischal Shetty rejects WazirX creditors' request to choose a single representative in the Committee of Creditors (COC) at a meeting dedicated to restructuring after a four-month moratorium 📊
During the third meeting on October 4, WazirX founder Nischal Shetty rejected a creditor's request to choose only one member of the Committee of Creditors (COC).The meeting was dedicated to the formation of the Committee of Creditors after a Singapore court approved a four-month moratorium on September 24. The Committee will allow ten selected creditors to interact with the WazirX team and provide recommendations on the restructuring process.One of the creditors proposed electing only one representative to the COC through voting, expressing concern about the current selection process. Among the proposed candidates were well-known figures in the Indian crypto industry, such as Sonu Jain and Aditya Singh.In response, Shetty stated that with 4.8 million creditors, it is impossible to consider each proposal individually. He emphasized that implementing such a mechanism could significantly delay the formation of the COC. However, he assured that this comment would be taken into account for future procedures, and his priority remains the quickest possible formation of the committee.
The FBI warns of large-scale fraud involving ICHCoin cryptocurrency: $30 million stolen, some victims lost all their savings 💸
The FBI is raising alarms about cryptocurrency fraud that has robbed some Americans of their savings.According to ABC13, the bureau states that the ICHCoin project, which attracted victims under the pretext of cryptocurrency investment education, actually turned out to be a fraudulent scheme that siphoned millions of dollars from the wallets of U.S. citizens.As FBI agent Amanda Culver explained, scammers have been deceiving people since December 2023 using the ICHCoin app, and have stolen around $30 million. Some victims have lost all their savings.The scheme works as follows: the perpetrators reach out to potential victims through social media, offering cryptocurrency investment education and promising big profits. Then, the victims move to messaging apps, where they start receiving advice from so-called "professors." The victims are shown a fake ICHCoin trading platform that displays fictitious income data. When people try to withdraw their money, the accounts are blocked or the scammers stop responding.The FBI is continuing the investigation and urges all victims to contact the bureau to provide information about the ICHCoin fraud.
Bybit Expands MetaTrader 5 Platform: Users Can Trade Global Indexes with USDT, Including China A50, Hang Seng, and Dow Jones 📈
Dubai, UAE, October 3, 2024. Bybit, the second-largest cryptocurrency exchange by trading volume, has expanded the capabilities of its MetaTrader 5 (MT5) platform by adding index trading. Now Bybit users can access global markets, including key indexes from Hong Kong and China.With Bybit MT5, crypto investors can use USDT to trade traditional assets such as commodities, currencies, and now major indexes in CFD format. This allows crypto traders to diversify their portfolios and apply complex cross-asset trading strategies. Thus, Bybit users can achieve their trading goals through cryptocurrency mechanisms.The new platform features provide access to global indexes such as China A50 Index Cash CFD (USD), Hang Seng Index Cash CFD (HKD), Dow Jones Index Cash CFD (USD), NAS100 Cash, and Nikkei Index Cash CFD (JPY), as well as other major indexes.According to Joan Han, Sales and Marketing Director of Bybit, the new addition demonstrates the company’s commitment to supporting its traders' needs and offering more opportunities for cross-asset trading through the MT5 platform.