CRYPTOCURRENCY
Crypto News
The definition of a cryptocurrency is a digital asset containing cryptographic protocols that make transactions secure and immutable. Cryptocurrencies are built on top of distributed ledger technology, blockchain — which allows it to be decentralized and immune to government control and interference. Transactions involving cryptocurrencies involve public and private keys, enabling minimal processing fees, allowing users to be able to make transfers without traditional third-party institutions.
The definition of a cryptocurrency is a digital asset containing cryptographic protocols that make transactions secure and immutable. Cryptocurrencies are built on top of distributed ledger technology, blockchain — which allows it to be decentralized and immune to government control and interference. Transactions involving cryptocurrencies involve public and private keys, enabling minimal processing fees, allowing users to be able to make transfers without traditional third-party institutions.
WEF Promotes Eco-Friendly Crypto Mining Firm Crusoe Energy
The World Economic Forum (WEF) featured a video showcasing Crusoe Energy Systems, a cryptocurrency mining firm that uses waste energy sources to power their modular data centers. Although the video never directly mentions cryptocurrency mining, several crypto industry figures praised Crusoe's efforts in reducing flaring and utilizing stranded energy sources to generate ultra-low-cost computing infrastructure.
Former US Secret Service Officer Warns of FTX Customer Targeting Risk
Former US Secret Service officer Jeremy Sheridan has cautioned that the release of personal information of FTX customers could make them potential targets for identity and asset theft. Sheridan supported a motion from FTX debtors to withhold the confidential information of customers associated with the failed crypto exchange.
Turkish Crypto Exchange Founder Arrested
Thodex founder, Faruk Fatih Ozer, has been arrested upon his arrival at Istanbul airport after two years on the run. Ozer faces charges of fraud and money laundering, relating to allegations of an exit scam involving at least $2 billion worth of cryptocurrency stolen from Thodex.
Bitget Registers as a Service Provider in Lithuania
Bitget has registered as a service provider in Lithuania after meeting compliance standards with regional laws and regulations. Lithuania is an emerging digital asset market and a popular location for cryptocurrency and blockchain projects.
MetaMask Denies Involvement in Massive Wallet-Draining Exploit
MetaMask has denied claims that its wallet was exploited in a recent massive wallet-draining operation that resulted in the loss of over 5,000 ETH. The company has confirmed that the funds were stolen from various addresses across 11 blockchains, and that the exploit was not specific to MetaMask.
Gate Pay and CityPay.io Partner to Bring Cryptocurrency Payments to Georgia
Gate Pay has partnered with CityPay.io to offer cryptocurrency payment alternatives to over 600 merchants in Georgia, including restaurant chain Wendy’s. The collaboration aims to bridge the gap between Web3 and people’s daily lives.
Zipmex Requests Moratorium Extension in Singapore
Cryptocurrency exchange Zipmex has requested an extension of its moratorium on debt in Singapore due to liquidity issues. The company plans to use the extra time to reopen withdrawals on its Z Wallet platform.
Paxful Unfreezes Majority of Accounts
Paxful, a peer-to-peer cryptocurrency marketplace, has unfrozen 88% of previously frozen user accounts after suspending operations. The remaining $4.4 million in frozen funds is in the hands of US financial regulators.
Cryptocurrency Phishing Attacks Rise by 40% Year-on-Year in 2022
Kaspersky, a Russian cybersecurity and anti-virus provider, has reported a 40% year-on-year increase in cryptocurrency phishing attacks in 2022. The attacks involve reaching out to investors through fake websites and communication channels that mimic official companies, prompting users to share personal information such as private keys. Attackers are evolving their strategies to lure unwary crypto investors. Recently, hardware cryptocurrency wallet provider Trezor warned against attempts to steal users' crypto through fake Trezor sites. In a survey, one out of seven respondents admitted to being affected by cryptocurrency phishing.
Cryptocurrency Phishing Attacks Surge in 2022
Kaspersky reports a 40% YoY increase in cryptocurrency phishing attacks in 2022. These attacks involve fake websites and communication channels that mimic official companies to trick users into sharing private information such as private keys. Kaspersky warns that scammers continue to evolve their techniques and stories to lure in unsuspecting crypto investors.