China News Official TheBitTimes.com

The web3 protocol said its decision followed legal guidance from the U.S. Treasury while debunking unverified reports of restrictions on non- sanction ed countries. Wallet Connect announced an update to which regions can access its open-source protocol used for linking blockchain wallets to decentralized apps. Russian users have been geo-blocked from the platform in line with sanction s from the Office of Foreign Assets Control  (OFAC). The sanction came into effect on Oct. 30 and that led to restrictions on two countries – Russia and certain areas of Ukraine. Ukrainian users in other parts of the country were temporarily affected but service was subsequently restored, according to Wallet Connect’s team. Reports making the rounds prior to the announcement said Wallet Connect also blocked a number of non- sanction ed countries. The protocol refuted such claims and apologized to general users for possible inconveniences.  Dear WalletConnect community, In light of the lat...

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...

Shytoshi Kusama, the co-founder of the SHIB token, said the bridge was fixed with the help of Polygon Labs co-founder Sandeep Nailwal. Shibarium, a new layer-2 blockchain for Shiba Inu (SHIB) has surpassed 100,000 wallet s on its platform with 35,000 coming within 24 hours of Shibarium's relaunch on Aug. 28. Shytoshi Kusama, the lead developer and co-founder of Shiba Inu, confirmed Shibarium was back up and running in an Aug. 28 blog post. At the time, Kusama noted that Shibarium tallied 65,000 wallet s across 350,000 transactions — however, those figures have rocketed upwards since, respectively increasing 55.8% and 20.2%, according to Shiariumscan.io. Shibarium’s block explorer shows that 101,277 wallets have now facilitated 420,897 transactions across 344,614 blocks, with an average block time of 5 seconds. The number of wallet addresses increased from 65,000 to over 100,000 within 24 hours of Shibarium re-opening. Source: Shiariumscan.io In a statement, Kusama said the relaun...

Trezor doesn’t plan to introduce any private key recovery tools as it has provided all possible tools to help users secure the seed phrase, CEO Matej Zak said. Amid the expanding trend toward self-custody, hardware wallet  Trezor's CEO Matej Zak has highlighted the most relevant development vector for the company so far - enhancing usability to significantly increase the number of users over the next few years. Speaking to Cointelegraph at the BTC Prague 2023 conference on June 9, Zak said: “Educate hard and build simply” is currently Trezor’s most relevant strategy in developing its hardware wallet s amid the growing demand for self-custody." “You need to explain what self-custody is because it’s still a different concept. It’s nothing that existed before Bitcoin, and Bitcoin has only been around since 2009,” he added. While allowing investors to be their own banks, the concept of self-custody also makes users the sole responsible entity for the safety of their Bitcoin. T...

1. ETH’s weekly summary a. Ethereum developer: Goerli will be shut down eventually link Ethereum developer @TimBeiko tweeted to disclose the current state and future plans of the Ethereum test network: Goerli will be shut down eventually, future testnets, incl. Sepolia, can mint more ETH, and hopefully ones after that can include more addresses in genesis files. b. Scroll releases testnet version of Ethereum L2 on Goerli testnet link Scroll has released a testnet version of its Ethereum L2 on the Goerli testnet, transitioning zk-EVM from pre-alpha (launched in August 2022) to the alpha testing stage, which will be the final phase before its mainnet launch. c. Vitalik discusses cryptocurrency payment failures and solutions in new article link Vitalik posted an article discussing the failure experience of cryptocurrency payments, long delays, the need for a better UI, and better forms of account abstraction to remove the need for centralized or even federated relays, and commoditize the ...

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...

The entire globe has been witnessing the ordeal of FTX and Alameda Research. The founders are pleading guilty to most of the charges put forth by the U.S. government. Now, wallets linked to Alameda Research are undergoing activity. Earlier today, it was brought to light that funds from Alameda wallets were moved. Afterward, the assets were swapped with certain ERC-20s for Ethereum [ETH]. These tokens were precisely being swapped for ETH/USDT. 1/ Lots of activity going on among Alameda wallet s in the past 6-7 hours Various tokens on ETH being consolidated into 2 main wallet s Swapped to ETH/USDT (USDC to USDT too) USDT thn swapped to ETH Sent to multiple wallet s and thn to FixedFloat/Changenow Source: @nansen_ai pic.twitter.com/NfTe9CoY9K — Martin Lee | Nansen 🧭 (@themlpx) December 28, 2022 As observed, a wallet address with the prefix 0x64e9 received more than 600 ETH from Alameda wallet s, with part of the transaction being converted to USDT and the oth...