Crypto.com accidentally transfers $10.5m to woman instead of $100
It took crypto.com more than seven months to realise the error.
The company accidentally entered an account number in the payment field instead of the $100 refund.
It happened in May last year, but the mistake was only discovered in a company audit just before Christmas.
When crypto.com tried to recover the money, the cash had already been moved and used to buy a multi-million dollar mansion.
But now a judge has ordered the property be sold, and the remaining money to be returned
It took crypto.com more than seven months to realise the error.
The company accidentally entered an account number in the payment field instead of the $100 refund.
It happened in May last year, but the mistake was only discovered in a company audit just before Christmas.
When crypto.com tried to recover the money, the cash had already been moved and used to buy a multi-million dollar mansion.
But now a judge has ordered the property be sold, and the remaining money to be returned
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OpenSea Trading Volume Down 99% From All-Time High
Think the cryptocurrency market has it rough? Take a look at what happened to non-fungible tokens β aka NFTs. Data from DappRadar shows that trading volume at OpenSea β the worldβs largest NFT marketplace β has fallen by 99% in less than four months. While the company contested the figure to some degree, it admitted that the substantial slowdown in activity is both real and expected. According to DappRadarβs statistics page, the daily trading volume of ETH at OpenSea peaked above $400 million on May 1st. By comparison, the platform only generated $5 million in ETH volume on August 28th.
Think the cryptocurrency market has it rough? Take a look at what happened to non-fungible tokens β aka NFTs. Data from DappRadar shows that trading volume at OpenSea β the worldβs largest NFT marketplace β has fallen by 99% in less than four months. While the company contested the figure to some degree, it admitted that the substantial slowdown in activity is both real and expected. According to DappRadarβs statistics page, the daily trading volume of ETH at OpenSea peaked above $400 million on May 1st. By comparison, the platform only generated $5 million in ETH volume on August 28th.
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Ticketmaster Chooses Dapper Labs' Flow Blockchain for NFT Tickets
Event ticketing behemoth Ticketmaster announced today that it will adopt the Flow blockchain from Dapper Labs for minting tickets as NFTs for select events. The NFTsβunique blockchain tokens that signify ownershipβwill function primarily as collectible digital memorabilia, but also as a shareable βproof of attendance.β Over the past six months, Dapper Labs and Ticketmaster quietly launched an NFT pilot program. In it, Ticketmaster automatically issued ticket NFTs as memorabilia to attendees of specific events like the Super Bowl LVI this year. In the pilot program, more than five million Flow NFTs were minted in a six month period, according to Dapper.
Event ticketing behemoth Ticketmaster announced today that it will adopt the Flow blockchain from Dapper Labs for minting tickets as NFTs for select events. The NFTsβunique blockchain tokens that signify ownershipβwill function primarily as collectible digital memorabilia, but also as a shareable βproof of attendance.β Over the past six months, Dapper Labs and Ticketmaster quietly launched an NFT pilot program. In it, Ticketmaster automatically issued ticket NFTs as memorabilia to attendees of specific events like the Super Bowl LVI this year. In the pilot program, more than five million Flow NFTs were minted in a six month period, according to Dapper.
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Beijing announced a two-year Metaverse innovation and development plan.
The Beijing municipal government announced a two-year (2022β2024) Metaverse innovation and development plan that would require all districts to adhere to the newly released Web3 innovation plan.
The development action plan refers to the Metaverse as a new generation of information technology integration and innovation that would drive the growth of the internet toward Web3.
The innovation plan focuses on promoting the development of Metaverse-related industries and helping Beijing build a benchmark city for the digital economy.
The Beijing municipal government announced a two-year (2022β2024) Metaverse innovation and development plan that would require all districts to adhere to the newly released Web3 innovation plan.
The development action plan refers to the Metaverse as a new generation of information technology integration and innovation that would drive the growth of the internet toward Web3.
The innovation plan focuses on promoting the development of Metaverse-related industries and helping Beijing build a benchmark city for the digital economy.
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The action effectively removes the world's second biggest stablecoin USDC as a tradeable asset on Binance's platform.
Seems like the stablecoin wars has started.
Source
Seems like the stablecoin wars has started.
Source
Bellatrix upgrade goes live, sets stage for Ethereumβs Merge
The Bellatrix hard fork has just been activate on the Beacon chain and now only the Paris event remains before Ethereum's switch to proof-of-stake. The Bellatrix upgrade was activated at epoch 144896 on the Beacon Chain and is now live. The Paris upgrade is next, and once activated, it will complete the Ethereum networkβs transition to the proof-of-stake system. Earlier in the day, Ethereum co-founder Vitalik Buterin announced on Twitter that the Merge will be triggered between Sept. 13 to Sept. 15. Each Ethereum node is run on two layers, the consensus layer (βC layerβ) and the proof-of-work (PoS) layer β currently the main network β which communicates via an Application Programming Interface.
The Bellatrix hard fork has just been activate on the Beacon chain and now only the Paris event remains before Ethereum's switch to proof-of-stake. The Bellatrix upgrade was activated at epoch 144896 on the Beacon Chain and is now live. The Paris upgrade is next, and once activated, it will complete the Ethereum networkβs transition to the proof-of-stake system. Earlier in the day, Ethereum co-founder Vitalik Buterin announced on Twitter that the Merge will be triggered between Sept. 13 to Sept. 15. Each Ethereum node is run on two layers, the consensus layer (βC layerβ) and the proof-of-work (PoS) layer β currently the main network β which communicates via an Application Programming Interface.
βοΈTornado Cash used to launder $500,000 stolen from DAO Maker last year.
An Ethereum address connected with an exploit last year of DAO Maker has laundered 500,000 DAI stablecoins through Tornado Cash, security firms PeckShield and CertiK said today.
DAO Maker (not to be confused with stablecoin project Maker DAO) is a crowd fundraising platform that suffered a hack in August 2021. Because of a bug in DAO Makerβs smart contract, a hacker was able to steal more than $7 million in stablecoins. These funds were then scattered across different addresses controlled by the hacker.
A year after the incident, one of the addresses, which was labeled by Etherscan as the exploiter of DAO Maker, has transferred $500,000 worth of DAI stablecoins through Tornado Cash. Hackers often funnel stolen assets through Tornado Cash because it allows them to obscure the transactional activity.
An Ethereum address connected with an exploit last year of DAO Maker has laundered 500,000 DAI stablecoins through Tornado Cash, security firms PeckShield and CertiK said today.
DAO Maker (not to be confused with stablecoin project Maker DAO) is a crowd fundraising platform that suffered a hack in August 2021. Because of a bug in DAO Makerβs smart contract, a hacker was able to steal more than $7 million in stablecoins. These funds were then scattered across different addresses controlled by the hacker.
A year after the incident, one of the addresses, which was labeled by Etherscan as the exploiter of DAO Maker, has transferred $500,000 worth of DAI stablecoins through Tornado Cash. Hackers often funnel stolen assets through Tornado Cash because it allows them to obscure the transactional activity.
πͺπΊ European Union is working on a project to fight counterfeiting and forgery by using NFTs
The European Union has recently announced that is working on a system that will use blockchain and NFTs as part of its fight against the counterfeiting of physical goods.
The system proposed will be designed by the European Union Intellectual Property Office, and is the product of more than five years of work.
The European Union has recently announced that is working on a system that will use blockchain and NFTs as part of its fight against the counterfeiting of physical goods.
The system proposed will be designed by the European Union Intellectual Property Office, and is the product of more than five years of work.
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ApeCoin Treasury Set to Unlock 25 Million APE Tokens for Launch Contributors
ApeCoin, the Ethereum-based token built for the Bored Ape Yacht Club NFT ecosystem, launched to immense hype (and significant paydays for BAYC holders) in March. Now some of the projectβs backers are set to reap over $115 million worth of APE tokens as a reward.
ApeCoin, the Ethereum-based token built for the Bored Ape Yacht Club NFT ecosystem, launched to immense hype (and significant paydays for BAYC holders) in March. Now some of the projectβs backers are set to reap over $115 million worth of APE tokens as a reward.
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π£ Crypto market maker Wintermute hacked for $160 million.
Crypto market making firm Wintermute has been hacked for $160 million but the firm remains solvent, according to founder and CEO Evgeny Gaevoy.
Gaevoy said today on Twitter that the money was related to its DeFi operations and that it's centralized exchange and over-the-counter offerings were not affected.
Crypto market making firm Wintermute has been hacked for $160 million but the firm remains solvent, according to founder and CEO Evgeny Gaevoy.
Gaevoy said today on Twitter that the money was related to its DeFi operations and that it's centralized exchange and over-the-counter offerings were not affected.
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ββCrypto app downloads fall 55% as bear market vibes hit the market
Due to the fact that the cryptocurrency market has been in the throes of a protracted bear market for the bulk of the last year, cryptocurrency applications have also witnessed a fall in interest, as seen by a considerable reduction in the number of app downloads. Although cash advance apps have grown 69% year-over-year (YoY), more than other fintech sectors, the performance of crypto and retail investing apps was trending downward.
Due to the fact that the cryptocurrency market has been in the throes of a protracted bear market for the bulk of the last year, cryptocurrency applications have also witnessed a fall in interest, as seen by a considerable reduction in the number of app downloads. Although cash advance apps have grown 69% year-over-year (YoY), more than other fintech sectors, the performance of crypto and retail investing apps was trending downward.
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