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Massive Crypto Hack Falls Flat: Scammers Net Just $8K in Bold Heist Gone Wrong
In the rapidly evolving world of digital finance, security breaches have become a common conundrum, particularly on a platform designated as “X.” It came to light recently that attackers infiltrated a multitude of X accounts with the intention of promoting a particular memecoin. Interestingly, despite the breadth of their intrusion, the total proceeds from their…
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Exclusive Club Slapped with $750K Fine for NFT Securities Sale – What Went Wrong?
In a recent noteworthy development, the U.S. Securities and Exchange Commission (SEC) has imposed a significant $750,000 fine on Flyfish Club for the sale of what is deemed unregistered crypto asset securities. This decision highlights the SEC’s ongoing scrutiny of digital assets, particularly Non-Fungible tokens (NFTs), and emphasizes the complex regulatory landscape surrounding them. Understanding…
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Friend.tech Team Dumps Project: What Went Wrong?
Friend.tech Team Abandons Project – SocialFi Leader’s Uncertain Future The future of friend.tech, a Base project once hailed as the pioneer of the “SocialFi” crypto sector, now hangs in the balance after the friend.tech team seemingly walked away from the project, transferring control to a burn address. In a recent post, the friend.tech team clarified…
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Discover Why 33 Million Gamers in the GCC Can’t Be Wrong
In the ever-evolving world of digital entertainment, the gaming industry in the Gulf Cooperation Council (GCC) region stands at the cusp of a significant transformation. This shift is championed by the increasing number of gamers and the rising demand for games that not only entertain but also resonate with the local culture. Gaming Market in…
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2024 Losses Spiral Beyond $1.2 Billion Despite August’s Dip – What Went Wrong?
In an era where digital currencies are increasingly interwoven with our daily transactions, the year 2024 has unfolded with a staggering $1.2 billion in crypto losses, marking a 15.5% surge from the preceding year despite a significant decline in thefts during August. This year’s tumultuous journey through cyber vulnerabilities and hacker ingenuity underscores the persistent…
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BlackRock’s IBIT Suffers First Net Outflows Since May: What Went Wrong?
bitcoin spot exchange-traded funds (ETFs) in the U.S. experienced a rough patch with $71.73 million in net outflows on Thursday, extending the downward trend for the third consecutive day. The largest spot bitcoin ETF, BlackRock’s IBIT, observed its first net outflows since May 1, with $13.51 million exiting the fund, as per data from SosoValue.…
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Learning From Flamingo Finance’s $5M Poly Network Crisis & Recovery: What Went Wrong?
Flamingo Finance Addresses Poly Network Exploit: $5 Million in Stolen Funds In the wake of a significant security breach, Flamingo Finance has published a comprehensive post-mortem report regarding the recent exploitation of the Poly Network cross-chain CMCC bridge contract. The breach, occurring on August 12, 2024, resulted in the misappropriation of roughly $5 million in…
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Crypto Fund Hit with $150K Fine for Unauthorized Bitcoin Loan – What Went Wrong?
In the ever-evolving landscape of cryptocurrency, the recent industry-wide liquidity crunch, significantly influenced by the events surrounding FTX in 2022, has catapulted discussions surrounding the robustness and sustainability of digital currencies and their regulatory frameworks into the limelight. This situation has provided a unique lens through which the intricacies of crypto regulation and the market’s…
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$123 Million Crypto Bet Gone Wrong: Tim Walz Surprises as Kamala’s VP Choice
In the ever-evolving landscape of crypto-backed prediction markets, a recent unprecedented development has captured the attention of both participants and observers. The prediction market Polymarket, a platform where users can stake cryptocurrencies on the outcomes of various events, experienced a remarkable turn of events with the selection of a vice-presidential candidate for the upcoming elections.…
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16 Shocking July Crypto Heists: $266M Vanished – What Went Wrong?
crypto Hacks Skyrocket Alongside Market Boom Oh, it’s true, folks. When the crypto market starts to soar, it attracts more than just investors and enthusiasts. July was a month of fireworks with bitcoin almost kissing the $70,000 mark, barely missing by $50. Then comes the big news, the United States SEC lighting the green signal…
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Ronin’s Unstoppable Surge: 2M Daily Users Can’t Be Wrong! #Winning
**Exploring the Surge in Ronin Blockchain’s Daily Active Wallets: What’s Behind the Phenomenal Growth?** Recently, Sky Mavis’ Ronin blockchain achieved a remarkable milestone by surpassing both TRON and Solana in terms of daily active wallets, with its peak reaching over 2 million on July 26th and the total lifetime wallets soaring past 23 million. This…