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The UK’s National Crime Agency (NCA) is forming a special team to investigate crypto crimes to prevent virtual asset fraud. According to a vacancy posted by the NCA, the agency is looking for six people to create a new team that will investigate crypto crimes. The working group will be part of the National Cyber Crime Unit (NCCU) or the Digital Assets Unit. Salary varies from £42,109 to £45,605. Requirements for candidates include analyzing various materials and suspicious cryptocurrency transactions, monitoring blockchains, and interacting with law enforcement and regulatory authorities. The NCA has stressed that it intends to form a dedicated team of “cryptocurrency investigators” amid rising cyber threats. The move demonstrates the UK’s intention to become a crypto hub as local authorities continue to debate the creation of a regulated environment that protects the interests of users. You might also like: UK legislation on confiscating illegal crypto assets of...

The Seychelles-based exchange known as Bitget is adding the KYC process for its new users starting Sept. 1.  The company said in a statement that all the new users will have to complete the level one KYC verification for making deposits and trades on the platform. Users who signed up before Sept. 1 must meet the level one KYC standards before October 1. If they failed to meet the new KYC requirements, they won’t be able to trade, make deposits, or withdraws. You might also like: Bitget creates AI-powered crypto trading tool The users must provide a government-issued identity document and proceed with facial authentication. The process will have an average duration of 20 minutes. The new KYC process comes in when the company plans to expand its global presence. Last April, Bitget announced a $100 million global venture capital fund, focusing mainly on the Asian market. In July, the company announced the launch of some new products, such as crypto loans. The KYC proc...

Hinman risked contradicting himself over the statement Ether isn’t a security, unsealed SEC internal discussion documents show. Newly released documents showing edits that were made to a 2018 speech given by former director of the Security and Exchange Commission’s (SEC) corporate finance division Bill Hinman suggest the editors were concerned his statement might undermine the idea that Ether (ETH) is a security .  This could risk locking the agency into a position it would find hard to change at a later date, the SEC comments warn. “Even with the caveats in the sentence, it seems that it would be difficult for the agency to take a different position on Ether in the future,” the edits to the documents read. “Further, the rest of the paragraph strongly implies that the thinking applies to Ether.” The Hinman documents refer to internal SEC messages concerning a 2018 speech given by Hinman in which he said that while cryptocurrencies such as Bitcoin (BTC) and Ether may start off as sec...

Euler Labs CEO Michael Bentley stated he will “never forgive” the hacker as the exploit caused him to lose time with his newborn son. Ten separate audits conducted over a two-year period of the Ethereum-based lending protocol Euler Finance deemed it to be “nothing higher than low risk” and having “no outstanding issues” prior to it suffering from a $196 million attack. In a series of tweets on March 17 Euler Labs CEO, Michael Bentley described the “hardest days” of his life after Euler’s $196 million flash loan attack on March 13. He retweeted one user sharing information that Euler had 10 audits from 6 different firms, and commented that the platform “has always been a security-minded project.” Euler has always been a security-minded project. The Euler smart contracts, including the vulnerable lines of code, were audited.https://t.co/SvNeoKEGuY — Michael Bentley (@euler_mab) March 16, 2023 Blockchain Security firms including Halborn, Solidified, ZK Labs, Certora, Sherlock and ...

A better insight into wallet permissions and transaction flow can protect crypto users from phishing scams. This year was a turbulent one for the whole crypto space. From NFTs to DeFi and exchanges, all areas of the industry felt the cold blows of crypto winter. Unfortunately, such an unfavorable climate is the perfect breeding ground for scammers to exploit distressed investors’ crypto wallets. The most recent examples of crypto Scams include hackers stealing NFTs through over 500 fake Phishing domains, while robocallers started targeting FTX customers in the aftermath of the exchange’s crash. Such malicious attacks have become an everyday occurrence in the space, and the crypto community is actively working on protective measures. On one hand, investors are becoming wearier when interacting with Web3 domains and signing off access to their crypto wallets. On the other hand, up-and-coming teams are developing tools to give investors more ways to protect themselves against malicious...