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Phishing scammers have been spreading fake news of a $37 million dollar Uniswap exploit using a convincing fake Blockworks website. Phishing scammers have cloned the websites of crypto media outlet Blockworks and Ethereum blockchain scanner Etherscan to trick unsuspecting readers into interacting with a phishing site. A cloned Blockworks site displays a fake "BREAKING" news report of a supposed multimillion-dollar “approvals exploit” on the decentralized exchange Uniswap and encourages users to a faked Etherscan website to rescind approvals. The fake Blockworks website (left) shows a fake breaking news story of a Uniswap exploit compared to the legitimate website (right). The fake Etherscan website, displaying a purported token and smart contract approval checker, instead contains a smart contract that would likely drain a crypto wallet when connected. Related: 85% of crypto rug pulls in Q3 didn’t report audits: Hacken The phishing website (left) compared to the legitim...

Vodafone’s Digital Asset Broker (DAB) has demonstrated a proof of concept in collaboration with Chainlink Labs and others, targeting the complexities in the global trade ecosystem, valued at $32 trillion. Vodafone’s DAB has partnered with Sumitomo Corporation, Chainlink Labs, and InnoWave to demonstrate a proof of concept aimed at improving the exchange of trade documents across diverse platforms and blockchains, addressing inefficiencies in the $32 trillion global trade sector. The demonstration showcased the capability of seamlessly exchanging crucial trade documents across various platforms and blockchains, a process often hindered by fragmented and incompatible systems. The collaboration utilized Chainlink’s Cross-Chain Interoperability Protocol (CCIP) alongside DAB, enhancing security and interoperability across IoT devices and networks. This integration aims to provide a unified interface for secure data and token exchange across blockchain and IoT networks. You...

The stablecoin issuer freezes addresses containing $873,000 USDT linked to illicit activity in Israel and Ukraine. Stablecoin issuer Tether has moved to freeze 32 addresses linked to terrorist activity in Israel and Ukraine in collaboration with local law enforcement agencies. $873,118 worth of USDT linked to illicit activity in Israel and Ukraine have been frozen, according to announcement from the company. The action was taken in a collaboration with Israel’s National Bureau for Counter Terror Financing. Paolo Ardoino, who was appointed as Tether CEO in Oct. 2023, highlighted the fact that cryptocurrency transactions are easily traced on blockchain platforms which has enabled Tether to assist in blocking the use of USDT linked to terror ist funding. “Contrary to popular belief, cryptocurrency transactions are not anonymous; they are the most traceable and trackable assets." The CEO added that the stablecoin issuer is actively working with global law enforcement agencies to ...

Parity Technologies announces a strategic shift towards decentralization within the Polkadot ecosystem, dispelling rumors of laying off 300 employees.  Parity Technologies, a major blockchain infrastructure provider, has announced a strategic shift towards decentralization within the Polkadot ecosystem. This move is expected to result in organizational changes over the upcoming months. 1/ Reflecting on our journey with @Polkadot, Parity's role has been an exploration in contrasts. We are passionate advocates for decentralization, yet as we've expanded our mandate, we've had to navigate the risk of becoming a bottleneck for Polkadot’s growth. — Parity Technologies (@paritytech) October 10, 2023 Contrary to circulating rumors , Parity Technologies has refuted claims of laying off approximately 300 employees during a recent off-site gathering in Mallorca. The company emphasizes that any alterations to its workforce will be gradual and are directly linked to it...

Cointelegraph’s new Research Terminal offers a slick new look and more features to help retail and institutional investors navigate the crypto space. In a rapidly changing blockchain and crypto currency landscape, staying informed is crucial. Cointelegraph has launched its new Research Terminal — an all-in-one destination for comprehensive crypto insights, detailed report s and extensive data.  The revamped terminal offers an improved user experience with a user-friendly interface, making it effortless to explore our wealth of content, whether on a desktop or mobile device. Check out the new Cointelegraph Research Terminal here The updated Cointelegraph Research Terminal covers the crypto ecosystem like never before. Cointelegraph Research is still committed to free public reports An important part of the mission at Cointelegraph and Cointelegraph Research is to provide the most up-to-date information on the ever-changing blockchain industry and cryptocurrency landscape. This remains...

Sam Bankman-Fried trial reaches the third day in Manhattan with Adam Yedidia and Gary Wang as witnesses. A young entrepreneur who made mistakes while running a crypto empire or a liar who stole and used people's money to enrich himself? In the first hours of Sam Bankman-Fried's six-week trial, that was the tone between his defense counsel and the prosecution. The former FTX CEO is facing a total of seven charges related to fraud and conspiracy to commit fraud. He could spend over 100 years in prison if convicted of these charges. At trial, Bankman-Fried appeared to be focused on his defense strategy, constantly checking his laptop and attorneys' paperwork. As his defense counsel delivered an opening statement, he turned his focus towards the 12 jurors who will decide if Bankman-Fried intentionally misused its customers' money or if mistakes were made in good faith. Related: Sam Bankman-Fried FTX trial — 5 things you need to know Two witnesses testified on the first day...

SBI Holdings and TradeFinex have established a joint venture in Japan to promote their enterprise blockchain platform on the XDC Network. SBI Holdings, a Tokyo-based company that provides financial services, is the group’s primary holding firm for various businesses and branches.  TradeFinex operates a decentralized finance platform on the XDC Network. It connects trade finance originators with banks and lending institutions, offering blockchain -based products like letters of credit, invoicing, and supply chain finance. You might also like: Honda to launch NFTs at Japanese Formula 1 In the past, TradeFinex has partnered with institutions such as the International Chamber of Commerce and the World Trade Organization (WTO) to expand blockchain technology’s use and benefits.  Japan has been working on developing the crypto industry for several years, having legalized Bitcoin (BTC) as a payment method in 2017, making it one of the first jurisdictions ...

Russian Prime Minister Mikhail Mishustin announced on Sep. 28 that the country is developing a blockchain -based system for international settlements using digital financial assets (DFA), which are tokenized versions of traditional financial instruments. Speaking at the Moscow Financial Forum, the Prime Minister said that the Russian government alongside the Bank of Russia has prepared the law framework for the system , according to a report from TASS, Russia’s state news service. “We are currently working on launching cross-border payments based on blockchain technology using digital financial assets and utilitarian digital rights.” Mikhail Mishustin Mishustin neither explained when Russia plans to launch the new system nor how exactly it wants to attract new investments to ease capital flow. You might also like: Bank of Russia wants to ‘avoid super-close attention’ with CBDC His statement comes just a few months after he visited China for a two-da...

Busan, the second-largest city in South Korea, is embarking on an ambitious project to become a blockchain city. The project aims to integrate various blockchain -based services from different platforms into one unified platform that will power the city’s development. The development has a budget of $75 million and is led by the Busan Digital Asset Exchange Establishment Promotion Plan and Future Schedule Plan. The initiative will be compatible with leading blockchain platforms like Ethereum and Cosmos. Busan is working with the Blockchain Innovation Fund (BIF) to fund the project, which supports blockchain projects in the city. The BIF will raise funds from various financial institutions interested in investing in blockchain technology. You might also like: Crypto accounts for 70% of South Korea’s overseas assets South Korea’s Blockchain Vision Busan’s blockchain city project is part of South Korea’s broader vision to promote the adoption and d...

The unlicensed exchange allegedly solicited than $128 million from users before being reprimanded by the Hong Kong Securities and Futures Commission. Troubled Hong Kong crypto exchange JPEX has applied for deregistration in Australia. According to a filing seen by Cointelegraph on September 20, Jieyi Chen, director of JP-EX Crypto Asset Platform PTY LTD (JPEX), has filed a deregistration application with the Australian Securities and Investment Commission (ASIC). In the filing, JPEX claims that all members of the company agree to the deregistration , the company is no longer carrying business, its assets do not exceed $1000 Australian Dollars, and carries no liabilities. On September 13, during the Token2049 conference in Singapore, the JPEX team allegedly abandoned its corporate booth after Hong Kong police arrested six JPEX employees on charges of fraud for operating an unlicensed crypto exchange . The Hong Kong Securities and Futures Commission (SFC) said on the same day that it...

Sony and Startale Labs are entering into a joint venture agreement to develop a blockchain that could become the backbone of global web3 infrastructure . The joint venture company will be established under the name “Sony Network Communications Labs Pte. Ltd.” Collaborating more deeply According to the press release shared with crypto.news, the companies believe in the potential of web3 and plan to “create killer web3 use cases to drive” its adoption. This announcement comes after the capital partnership Startale Labs and Sony Network Communications established in June and will be, as Sota Watanabe, the CEO of Startale Labs highlights, a deeper collaboration.  You might also like: Web3 adoption would be impossible without intuitive UX and convenience | Opinion As a part of this new endeavor, both firms will share their respective assets and knowledge to co-develop leading blockchain s and their ecosystem while simultaneously discerning web3 trends a...

A CoinEx hot wallet transferred $27.8 million of various tokens to a wallet with no previous history, leading experts to suspect a cyberattack. On Sept. 12, crypto exchange CoinEx experienced abnormally large outflows to an address with no prior history, leading security experts to suspect the exchange was hacked . Blockchain security platform Cyvers Alerts has estimated the losses to be approximately $27 million. Red CodeOur AI-powered model detected suspicious transactions related to @coinexcom 2 hours ago The potentially stolen funds amount to $18.12M #Eth $8.5M #Tron and $291K in #Polygon Possible causes: access control violations, private key leakage, rug pulling, insider job https://t.co/Wzw84azM9M pic.twitter.com/2bqHmE18Sr — Cyvers Alerts (@CyversAlerts) September 12, 2023 At approximately 1:21 p.m. UTC on Sept. 12, a known CoinEx hot wallet transferred around 4,947 Ether (ETH), worth $7.9 million at the time, to Ethereum account 0x8bf8cd7F001D0584F98F53a3d82eD0...

Toyota continues its ongoing exploration into integrating blockchain technology within its corporate and developmental ecosystems. The Toyota GR Cup, a North American racing series held by Toyota Gazoo Racing, recently announced it will start awarding digital trophies and record driver performances on the Polygon block chain .  Image source: Toyota press release. Per a press release, the new on-chain awards system will include digital trophies for podium finishers (drivers who take first, second, or third place in a race). The ledger entries will also include statistics about the race and the drivers performance. According to Jack Irving, executive commercial director for Toyota Racing Development (TRD), the point of the program is to put driver’s accomplishments on chain so fans can interact with them: “Blockchain helps us keep a permanent digital record of drivers' achievements that they can share with their friends, family and fans. It also allows us to develop new opportuni...

As Web3 redefines digital interactions, the conventional legal system lags, underlining the need for a new on-chain legal mechanism. Web3 is poised to revolutionize digital interactions, but this innovation is moving faster than the conventional legal system can manage it. Unlike traditional infrastructures that rely on intermediaries, Web3 is powered by blockchain, and most rules are enforced by code. How should people build trust in decentralized, trustless systems without an on -chain legal system? While Web3 offers unprecedented opportunities, it also comes with unique challenges, one of which is Web3 conflict resolution. The legal challenges of Web3 Given the global and decentralized nature of Web3, conflicts could appear in many scenarios: criminal acts like hacks, scams, regulatory disputes and private law disagreements. These disputes can arise from interactions with centralized or decentralized exchanges, malfunctioning smart contracts or governance disagreements within de...

Web3 is struggling to shake off the connotations associated with Play to Earn. What needs to change in order to turn skeptics around? The world of crypto and Web3 is fast-moving, with new trends emerging all the time. However, the industry has a bit of a problem when it comes to public perception. Figures from Pew Research Center suggest that among Americans who have heard about cryptocurrencies, 75% are either not very or not at all confident in their safety and reliability. While there has been no shortage of innovation across this vibrant sector in recent years, some misconceptions have continued to stick. Nonfungible tokens (NFTs) hit headlines worldwide after rare pieces of digital art began changing hands for millions of dollars. This led to a narrative that all NFTs were expensive — but in actual fact, the average revenue per user stands at just $114.80. Away from eye-watering prices for CryptoPunks and Bored Apes, many crypto collectibles are being sold at far more affordable ...

This decision has implications for users who utilize bridged tokens on networks such as BNB Smart Chain, Fantom, Ethereum and Avalanche blockchains. Binance cryptocurrency exchange has announced it is ceasing its support of deposit and withdrawal services for a range of Multichain-bridged tokens, effective from July 7, 2023.  Binance has officially stated in its blog that the tokens impacted by the decision are Polkastarter (POLS) via BNB Smart Chain, Alchemy Pay (ACH) via BNB Smart Chain, Beefy.Finance (BIFI) via Fantom Network, SuperVerse (SUPER) via BNB Smart Chain, Travala (AVA) via Ethereum Network, Spell Token (SPELL) via Avalanche C-Chain, Alpaca Finance (ALPACA) via Fantom Network and Harvest Finance (FARM) via BNB Smart Chain. This news comes after deposits for various Multichain-bridged tokens were earlier suspended on May 25, 2023, following days of stalled transactions that sparked uncertainty surrounding the Multichain protocol. This decision to now cease support has impl...

Animoca Brands, a company responsible for advancing digital property rights for gaming and the metaverse, has announced its partnership with Celo, a carbon-negative blockchain ecosystem. By joining the Celo ecosystem, Animoca Brands aims to expand web3 gaming on Celo’s mobile-first infrastructure, with the intent to drive social impact and climate action through newer web3 tools. Development underway In a June 21 press release shared with crypto.news, Animoca Brands announced their partnership with Celo, a platform focused on mobile accessibility, catering to a broad user base of over 6.4 billion mobile phone users worldwide.  Having already facilitated more than 240 million transactions and boasting a market cap of $350 million, Celo has made notable strides in offsetting carbon emissions, with 4,104 tons of tCO2-eq being offset at the protocol layer since its mainnet launch on Earth Day 2020. You might also like: Chainlink releases Q2 2023 product update “Animoc...

The MULTI protocol's TVL remains largely unchanged at $1.6 billion despite a large selloff in the token price. On May 24, the token price of cross-chain router protocol Multichain (MULTI) fell by 30% over 24 hours to trade at $4.97 at the time of publication.  The selloff came after users reported that their multi-chain funds had not arrived due to a backend node upgrade "taking longer than expected." An admin in the Multichain Discord channel wrote: "Most routes are working as usual, as some routes (Kava, zkSync, Polygon zkEVM) are temporarily suspended. All affected transactions will arrive after the upgrade is complete. We sincerely apologize for the inconvenience caused." At the same time, a wallet address linked to layer-1 blockchain developer Fantom Foundation reportedly removed 449,740 MULTI ($2.4 million) from liquidity on decentralized exchange SushiSwap. Rumors also appear to have fueled the selloff. In a tweet viewed over 300,000 times since publ...

The Bitcoin Defense Legal Fund’s chief legal officer spoke out against an “extraordinarily dangerous” lawsuit initiated by Craig Wright, a person who claims to be Bitcoin creator Satoshi Nakamoto. Jessica Jonas, chief legal officer of the nonprofit Bitcoin Legal Defense Fund, discussed the potential legal ramifications of a high profile lawsuit against Bitcoin core developers during the Bitcoin 2023 event in Miami on May 18. The case in question is a UK legal action filed by Craig Wright, the owner/operator of Tulip Trading. Wright’s perhaps most well-known for his assertion that he is Bitcoin creator Satoshi Nakamoto — a claim driving another unrelated lawsuit . I would just want to say a quick reminder for BTC Core and Roger Inc. You are under litigation hold. Those telegram groups, the signal groups, the others that you think I don't know about are all discoverable evidence and spoliation is a criminal offence. pic.twitter.com/vtjFmeGrRd — Dr Craig S Wright (@Dr_CSWright) Fe...

The transparency of blockchain technology and the active involvement of crypto exchanges help law enforcement agencies combat criminal activity. Cryptocurrency is often associated with criminal activity, but this is mostly a myth, especially today. Bitcoin (BTC) and other cryptocurrencies don’t provide complete anonymity due to the Know-Your-Customer (KYC) policies implemented by most crypto exchanges. Even without KYC scanning, law enforcement agencies can easily track crypto transactions to identify criminal activity, as the blockchain is transparent and immutable. In 2019, United States Treasury Secretary Steven Mnuchin said that Bitcoin was a national security issue, since it had been used for illicit activities. To him, cryptocurrencies were dominated by illegal activities and speculation. But the facts say otherwise. Though illicit crypto volumes reached an all-time high at $20.6 billion in 2022 (primarily due to sanctioned entities), the share of all crypto activity linked wit...