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The newly created fake APT token called “ClaimAPTGift.com” made its way to 400,000 Aptos wallets, and users found they were able to deposit and sell it on the exchange. South Korea cryptocurrency exchange Upbit has resumed Aptos (APT) deposits and withdrawals again after fixing an issue that saw a scam APT token incorrectly recognized as the real deal. On Sept. 24, Upbit abruptly halted Aptos token services after noting an “abnormal deposit attempt,” prompting an inspection of the wallet system. The problem appears to have originated from a newly created fake APT token called “ClaimAPTGift.com” which had made its way to 400,000 Aptos wallets after its creation on Sept. 21. The fake token was likely part of a typical token airdrop scam, in which users are airdropped tokens that contain links pointing unsuspecting users to phishing websites. However, a reported failure by Upbit to properly verify the source code of the scam tokens led to the exchange recognizing the fake tokens as re...

Paris Saint-Germain (PSG) has partnered with Drop co-founder and CEO Benjamin Benichou to create a series of non-fungible token (NFT) posters . The French soccer giant on Sept. 21 announced a partnership with Benichou, a Los Angeles-based artificial intelligence (AI) artist and co-founder of social commercial platform Drop, to create a series of matchday NFTs. Paris Saint-Germain continues to explore exciting new avenues in the fields of art and technology. This season the club is working with the artistic director Benjamin Benichou to create a unique collection of match posters using artificial intelligence.https://t.co/Ay8nza7nLK — Paris Saint-Germain (@PSG_English) September 21, 2023 The NFTs will take the form of match posters depicting many of PSG’s historic moments and will be available exclusively on Crypto.com’s NFT platform.  According to the club, the series will comprise 1,970 AI-assisted artworks, with seven set to become official match posters for seve...

FTX intensified its asset recovery operations under legal scrutiny as founder Sam Bankman-Fried prepares for his October trial in October.  Spearheaded by FTX Chief Executive and Restructuring Officer John J. Ray, the company aims to reclaim billions of dollars that were lost. In a recent development, the exchange initiated legal proceedings against the parents of Bankman-Fried. The litigation accused Allan Joseph Bankman and Barbara Fried of manipulatively siphoning off “millions of dollars” by exploiting their familial connection and influence within the company, thereby defrauding creditors and stakeholders.  FTX is chasing funds across borders Additionally, FTX Trading Ltd targeted former associates in Hong Kong with legal action. The company is seeking to claw back $153 million in asset s from four ex-employees of Salameda Ltd, an affiliated Hong Kong-based corporation. These individuals are alleged to have given preferential treatment to their own funds and digita...

Deep-pocketed crypto investors are moving hundreds of millions of dollars worth of digital assets as Bitcoin (BTC) dips below $27,000. New data from whale-surveying platform Whale Alert shows that high-net-worth traders have abruptly moved over $660 million worth of Bitcoin, Ethereum (ETH), and Chainlink (LINK). Nine of the 14 transactions moved digital assets to exchanges Binance, Coinbase, Gate.io and OKX. The combined $426.9 million worth of BTC transactions on Whale Alert’s radar include: 753 BTC worth $20,027,198 transferred from an unknown wallet to Coinbase. 4,000 BTC worth $108,809,426 transferred from Bitfinex to an unknown wallet. 1,062 BTC worth $28,965,043 transferred from an unknown wallet to Binance. 2,927 BTC worth $79,646,728 transferred from an unknown wallet to Coinbase. 3,999 BTC worth $109,277,857 transferred from an unknown wallet to an unknown new wallet. 2,925 BTC worth $80,258,506 transferred from unknown wallet to Coinbase. Bitco...

The broader equity market has been underperforming of late. A recent Analysis by Barchart revealed that the S&P 500 market breadth recently fell to its lowest level since June 1. At the moment, only 43% of companies listed on the SPX are trading above their 200-day moving averages. Source: Barchart Also Read: 95% of NFTs Have a Market Cap of 0 Ether In fact, the benchmark U.S. equity index also scripted another bearish record a few hours ago. Over the past 103 days, the SPX has not registered a decline of more than 1.5%. However, on Thursday, Sept. 22, it closed 1.64% lower, breaking the streak. Nevertheless, Barchart pointed out that its record of not declining more than 2% still remains intact. In fact, it just hit 147 straight days, the longest stretch of time since February 2018. Source: Barchart Also Read: 97.5% of New Bitcoin Investors Are at a Loss Crypto vs. Equities Bitcoin is in the midst of one of its most rough bear markets. From its all-time high pri...

Stader Labs has introduced a new Liquid Re staked Token (rsETH) on testnet that allows users to stake the same ETH on multiple networks simultaneously. The recently launched rsETH token builds on EigenLayer’s restaking protocol and is designed to boost staking rewards by leveraging liquid staking tokens like Lido’s stETH and Coinbase Wrapped Staked ETH (cbETH). Restaking enables users to earn staking rewards on ETH while retaining liquidity. During a recent interview with The Block, Stader Labs co-founder Dheeraj Borra explained the benefit of such a system. rsETH is more than just a token; it is an entry point to more rewards and opportunities in the crypto landscape, allowing users to aggregate rewards from various different sources to maximize their holdings Stader Labs co-founder Dheeraj Borra You might also like: How Does Ethereum Staking Work? A Beginner’s Guide The rsETH token works by letting users deposit liquid staked ETH token s and mint rsETH repre...

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...

A community member highlighted the drastic shift in mainstream media narrative, sharing a previous article promoting the BAYC NFT collection. Mainstream media outlet Rolling Stone has declared that nonfungible tokens (NFTs) are “finally totally worth less,” citing the results of a DappGambl study on the “evolving landscape” of NFTs. The study found that as many as 95% of NFTs (owned by more than 23 million investors) have no value at all. The response from the community has been varied, with some agreeing with the report and others linking previous reports from the outlet that supported the same NFTs they’ve now called out. In a Reddit thread, most of the comments agreed with the report. Some called NFTs the “worst things to emerge from crypto,” and others claimed that they were “ worth less ages ago.” Despite this, a community member believes that, while they may be worth less now, this may change in the future. “Some will make a comeback. Some will go up 1000% because bull. Peop...

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...

Bybit, one of the largest derivatives crypto exchanges in the world, announced on September 20 that PayPal’s (NASDAQ: PYPL) stablecoin named PYUSD will be available for trading on their platform. Spot trading will also be made available for Bybit’s users. Notably, the PayPal USD pair against Tether USD on Bybit (PYUSD/USDT) has already made over $26,617 of exchange volume in the last 24 hours of press time, as the order book is starting to get filled by crypto traders and market makers. According to renowned crypto reporter Colin Wu (@WuBlockchain), other known centralized exchanges like Coinbase, Kraken, Gate, Cryptocom, and Huobi had already listed PYUSD with multiple pairs. PayPal’s stablecoin is also one of the very few cryptocurrencies allowed to be offered by service providers in the state of New York, according to a very exclusive pre-approved greenlist by the NY regulators. This list got smaller on September 19, after the removal of Dogecoin (DOGE) and XRP. New York cr...

Amid his continuous warnings of the impending “end of the American Empire” through the demise of the United States dollar, Robert Kiyosaki has shared more advice for his followers for the upcoming crisis, such as not waiting to purchase (more) Bitcoin (BTC), gold, and silver. Indeed, the author of the best-selling personal finance book ‘Rich Dad Poor Dad’ stressed that people always ask him about his prognosis for the price of gold, silver, and Bitcoin in 2025, but that he finds it a “silly question” as he shared in his X post on September 19. ‘Buy Bitcoin today, not tomorrow’ Specifically, the reason why he considers this query silly is that, according to him, there are more important questions to ask oneself, such as the amount of the above assets in possession today , not tomorrow , because the time is running out to get on the Bitcoin, gold, and silver bandwagon.  As Kiyosaki explained, the above assets are still a relatively cheap investment for the time being but will no...

Hong Kong police arrested eight people in connection with a suspected $152 million fraud at beleaguered crypto exchange JPEX. The police have received 1,641 complaints from people who are unable to recover money from JPEX, according to a Sept. 19 press briefing. Twenty locations were raided across the city, including offices and over-the-counter (OTC) shops, with cash, jewellery, luxury handbags, computers, and phones worth about HK$8 million seized, the police said. Things began to unravel for JPEX on Friday, when Hong Kong’s Securities and Futures Exchange Commission (SFC) released a name-and-shame statement that said the exchange is not licenced to operate in Hong Kong. It also warned that JPEX had provided false information about obtaining licenses from foreign regulators, promoted business partnerships that never materialized, and was offering suspiciously high returns for its interest-bearing products. Hong Kong police held a press conference on Tuesday afternoon af...

Michael Sonnenshein has affirmed Grayscale’s willingness to work with the SEC. Sonnenshein said crypto in Washington has become a non-partisan issue. Grayscale is following the rules and looking forward to a constructive dialogue with the SEC. Grayscale CEO Michael Sonnenshein has affirmed his company’s willingness to work with the U.S. Securities and Exchange Commission (SEC) to actualize a spot Bitcoin ETF conversion. Speaking about his recent meeting with the lawmakers in Washington D.C., Sonnenshein said crypto in Washington has become a non-partisan issue, and the lawmakers have realized more than ever that crypto is here to stay. Grayscale CEO @Sonnenshein told @Jenniferisms about his meeting with lawmakers on Capitol Hill in the fight for new crypto legislation: pic.twitter.com/j8UeWdzX4E — Yahoo Finance (@YahooFinance) September 18, 2023 Sonnenshein’s affirmation was in response to the SEC’s claims of reviewing the case where the judge rule...

$26,500 level holds the potential to serve as a pivotal point for Bitcoin price. According to market analysts, Hifi Finance could hit the highest price of $1.0. At press time, one Shiba Memu (SHMU) coin was going for 0.028225 USDT. The crypto market is once again on a bull cycle after a brief bear market that saw Bitcoin briefly drop below $25,000. As the crypto market rallies a number of cryptocurrencies among them Hifi Finance, Bitcoin, and Shiba Memu are trending. Shiba Memu, a new cryptocurrency project is riding the meme coins and artificial intelligence wave. Alhough its first target is to contend the top position among meme coins, the coin will most likely be among the top cryptocurrencies by the end of 2023 going by the way investors are trooping to the project. Shiba Memu is currently in the presale phase and it has already raised $2,931,352.80. Besides using AI to market itself, the price of Shiba Memu (SHMU) beeps adjusting upwards every few hou...

JPEX suspended some operations after a warning by Hong Kong’s securities regulator triggered a liquidity squeeze at the crypto exchange. The squeeze followed a Sept. 13 statement by Hong Kong’s Securities and Futures Commission that said the exchange is not licenced to operate in Hong Kong. It also warned that it had provided false information about obtaining licenses from foreign regulators, promoted business partnerships that never materialized, and was offering suspiciously high returns for its interest-bearing products. The South China Morning Post reported that JPEX had been named in 83 complaints to Hong Kong police over virtual assets worth HK$34 million ($4.35 million), and that police commissioner Raymond Siu had urged other victims to come forward. JPEX Blames Regulators and Market Makers JPEX quickly blamed the SFC for its plight in a notice on its website. “Due to the unfair treatment by relevant institutions in Hong Kong towards JPEX, a cryptocurrenc...

The past month has brought forth a perplexing narrative for traders in the Shiba Inu (SHIB) community. Over the course of just 30 days, SHIB has endured a rather tumultuous journey, witnessing a significant dip of 13.18% in its value.  This stark decline has left traders scratching their heads, especially when juxtaposed with the resounding success of the Shibarium relaunch, which has facilitated over 2.85 million transactions since its triumphant return on August 20th. With the near future holding a shroud of uncertainty in terms of updates and developments, investors and enthusiasts have turned to sophisticated tools and machine learning algorithms to gain insights into SHIB’s price trajectory. Finbold has harnessed the power of predictive analytics to shed light on what October 1, 2023, might have in store for SHIB holders. As of September 18, 2023, the projections unveiled by Finbold’s data-driven models hint at SHIB poised to trade at $0.0000073 at the dawn ...

A layer-1 altcoin is outperforming the broader crypto markets after putting up a nearly 30% rally in the last week. Proof-of-work blockchain Kaspa (KAS) is trading for $0.0496 at time of writing, up from a low of about $0.0383 one week ago. The 44th-ranked crypto asset by market cap is up more than 3.6% in the past 24 hours. Kaspa’s price surge materialized amid multiple new integrations this week. On Wednesday, the crypto lender CoinRabbit made the project available on its platform for KAS-backed loans. Later that day, the crypto payment gateway NOWPayments integrated Kaspa onto its platform. Additionally, the cryptocurrency mining platform Antpool introduced a dedicated Kaspa mining pool last week. Kasps aims to deliver high block creation and transaction speed without the loss of security and decentralization that many higher-speed chains suffer from by using BlockDAG. The technology allows Kaspa to generate multiple blocks per second, giving the netwo...

Chainalysis’ latest Global Crypto Adoption Index does not contain any EU nations in the top 20. The top 10 list in the index is dominated by Central and South Asian nations, including India and Vietnam. The regulatory reform in the European Union appears to have had little impact on crypto adoption. Crypto intelligence firm Chainalysis recently published the 2023 Global Crypto Adoption Index, which showed that Central and South Asia topped the list in terms of crypto adoption. Meanwhile, nations from the European Union (EU) failed to break into the top 20 list, despite the recent regulatory reforms, including Markets in Crypto Assets (MiCA) regulations. According to Chainalysis’ latest crypto adoption report, India took the top spot with a global crypto adoption index score of 1. Nigeria came in at number 2, with an index score of 0.6, followed by Vietnam, which had an index score of 0.5. Other nations in the top 10 included the United States, Ukraine, Thaila...

One year ago, on September 15, Ethereum (ETH) went through a major update that changed the Ethereum Network in its roots by ultimately moving from a Proof of Work (PoW) to a Proof of Stake (PoS) system. This update was called ‘The Merge’, as it merged the Beacon Chain with Ethereum’s mainnet, resulting in the Ethereum 2.0 network, which is 99% less costly to keep than the old network with massive consumption of energy and electronic device waste. With a lower maintenance cost for validators, The Merge also decreased validators’ block rewards from supply inflation, dramatically impacting ETH’s tokenomics for what enthusiasts started calling “ultra-sound money”. Together with the London Upgrade — that happened one year before The Merge, in August 2021 — these changes can be seen in economic Analysis , such as the price ETH would trade at if Ethereum reaches its all-time high market cap. ETH tokenomics data since The Merge Cryptocurrency This historic Ethereum anomaly ...