Co-Founder of Russia’s Largest Crypto Pyramid Finiko Arrested in UAE
One of the founders of Russia’s most notorious Ponzi scheme in recent times, Finiko, is in detention in the United Arab Emirates, according to a Russian media report. The close associate of the crypto pyramid’s mastermind left the Russian Federation as the scam collapsed last summer.
BC.GAME’s World Cup Carnival Offers $2.1M and a Tesla in Prizes
To mark the FIFA World Cup 2022, online gaming platform BC.GAME is offering multi-million dollar prizes via its Coco’s Carnival portal. Crypto Casino BC.GAME is a major World Cup advocate thanks to its sponsorship of the Argentine Football Association.
HK Crypto Over-the-Counter Service Genesis Block To End Trading: Reuters
Genesis Block, a cryptocurrency over-the-counter trading service in Hong Kong, will close its trading portal on Dec. 10, Reuters reported on Friday citing an email the company sent to clients.
Binance Sees Record 138K BTC Inflows As Opinions Differ on What Bitcoin Price Will Do Next
Bitcoin (BTC) inflows to largest exchange Binance just saw a giant spike reminiscent of the 2018 bear market capitulation.
Crypto Exchange Bullish Says It Has No Exposure to FTX
Crypto exchange Bullish has said it does not have any exposure to now-bankrupt FTX and Alameda Research, and expects FTX’s bankruptcy to have no impact on Bullish’s operations. The exchange is operated by Bullish (GI) Limited and regulated by the Gibraltar Financial Services Commission.
Crypto Scammers Are Buying Fake Identities on the Black Market for As Little as $8 – Here’s What You Need To Know
A vast underground ring of know-your-customer (KYC) actors for hire is being increasingly used by rogue developers with the aim to scam Web3 communities, according to a recent analysis by security-focused ranking platform CertiK.
Bitstamp Gets a Crypto License From the Bank of Spain
Crypto exchange Bitstamp reported obtaining a license for operations with crypto in Spain. It marks approval in yet another European jurisdiction for an exchange, which has been focusing on the EU market since its launch in 2011.
Sony Files Patent to Use NFT Tech for Keeping Track of in-Game Digital Assets; Introduces Moments Market
Electronics giant Sony has filed a patent that describes the usage of NFT (non-fungible token) and blockchain technology to track the history of in-game digital assets. The filing describes the usage of this tech in order to record the story of modifications and ownership of the digital assets from a given game.
Bank of America Says Crypto Exchanges' Proof of Reserves Have Too Many Shortcomings
The bank notes that many exchanges have already reported, or are planning to report, their assets through proof of reserves using Merkle Trees. These are efficient data structures called “hash trees” that can be securely verified. They behave as a map of customers' funds and work even when reserves become complicated.
Crypto Scammers Can Use ‘Professional KYC Actors’ to Avoid Getting Caught
Blockchain security firm CertiK raises red flags over the rise of 'professional KYC actors.' The cost of a KYC actor can be as low as $8 if the requirements are low. Hackers stole over $2 billion in crypto assets in H1 of 2022 alone.
