Cryptocurrency fraud story - why do we keep hearing them?
Hong Kong police arrest 4 people suspected of defrauding a businessman by giving him fake banknotes in exchange for digital currency. Why is this a cryptocurrency fraud?
It seems that hardly a day goes by without some cryptocurrency fraud or other hitting the headlines. Today, it’s a “cryptocurrency fraud syndicate” that entailed a con equivalent to $200,000.
According to the South China Morning Post, a businessman was duped into transferring $200,000 in USD Tether stablecoins to an e-wallet account last month.
The swindlers allegedly set up a meeting with the 27 year-old businessman through WhatsApp. During the meeting two bundles of HK dollars wrapped in clingfilm were placed in front of the victim as payment for the stablecoin transaction.
The man representing the swindlers then left, making the excuse that he was going off to fetch a cash-counting machine. When he didn’t return, the businessman checked the currency bills and found that besides the top two bills of every pile, the rest were bogus bills.
Now, the Hong Kong police say that they have detained 4 suspects connected to the fraud, and Tang Chun, Senior Inspector of the Kowloon City district crime squad, appealed to the public to “stay alert” citing a “recent string of cryptocurrency scams.”
Opinion
Just to highlight this recent case, it has to be mentioned after reading the story that the actual bogus currency being used in this particular scam was in fact the Hong Kong dollar.
Here the bogus currency was being used as one half of the transaction, while the other half contained the perfectly legitimate crypto stablecoins. This begs the question: “Why was the title and the thrust of the story all built around a cryptocurrency scam?”
The South China Morning Post article was also punctuated with two links to other stories that had “cryptocurrency scam” in the titles.
It can only be imagined that the phrase “cryptocurrency scam” is what sells the news in these times. Mainstream media is always full of these types of stories, and the average Joe or Jane who reads them is probably suitably horrified and will probably not touch crypto with the proverbial barge pole.
If however, the crypto scams were put against the fiat currency scams, it would likely be that the fiat scams would win by a landslide. Our world is dominated by large media outlets that have absolutely no incentive to rock the boat and print anything that runs counter to the system-backed narrative, so stand by for more of the same.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
+35 leading Tron & Bittorrent chain projects and Partners launch the sTRONger Together Challenge, an ecosystem initiative
Paris, France, 15th August, 2022, ChainwiresTRONger Together Challenge, an initiative highlighting the best projects within the TRON and BitTorrent Chain ecosystem, has launched its first season. The month-long showcase led by Visions of Blockchain will feature close to 40 decentralized projects focused on such verticals as GameFi, NFTs, DeFi, and Esports and not only. Over $10,000 USDT will be given away to the TRON & BitTorrent Chain communities during the course of the challenge.
sTRONger Together Challenge has been conceived as a direct way to give back to the TRON & BitTorrent Chain communities while encouraging them to support TRON and BitTorrent projects. It’s an opportunity to shine a light on the thriving ecosystem, and demonstrate the many ways in which TRON and BitTorrent are evolving in tandem. In addition, the challenge will emphasize the spate of building that has been continuing apace all year on TRON, despite market conditions.
Starting on Monday August 15, sTRONger Together Challenge will feature one social media post per day for 30 days. Each post will highlight the work of one TRON or BitTorrent Chain project and include an invitation to interact with its platform and community. TRON and BitTorrent projects and their communities will be invited to participate by sharing, liking, reposting, and engaging in other social activities that will spread the word.
For each day that the challenge runs, a community airdrop will be conducted, with a total of over $10,000 USDT to be given away during the course of the campaign.
Welcome to #theSTRONgerTogetherChallenge
be tuned for more updates in our official channel - https://t.me/Challenge_Tron_sTRONgerTogether
Projects that will participate in the sTRONger Together Challenge include the following:
4thTech
Adshares
AhoyConnect
Allbridge
APR Marketing
Arabian Camels
BabyTuru
Capitol Lion
Carpe Diem Savings
Crypto Challengers
Coinmarketleague
Crystl Finance
Cubie
dCloud
Deba's Wulf Pack
Elk Finance
HUMAN Protocol
Indacoin
InterCrone World
JustMoney
Kattana
Legends of Elysium
MasterBlox
Neotech Finance
NFTmall
RUA Games
RUA Legends
SaTT
T-Rex Punks
ThanX Finance
Tokenomeme
Tron Web3 Domains
Tronbies
TronNinjas
Tronbakery
USTX
VersacBrickSquad
Visions of Blockchain
XDAO
About Visions of Blockchain - META MULTIVERSE CORP S.R.L
Visions of Blockchain is an advisory agency dedicated to supporting web3 projects with a focus on the social and financial impact the technology can bring to everyday lives. sTRONger Together Challenge is its latest initiative to engage the Tron DAO and BitTorrent Chain communities, united by an ethos of mutual support, solidarity and inclusiveness. We don't forget that behind every innovation, there are humans building for humans.
ContactsVoB Founder & sTRONgerTogetherChallenge InitiatorLaurent [email protected]
Zoomex, Villarreal CF's new Official Crypto Exchange Partner
Great news for Zoomex in terms of new partnerships. Recently, Zoomex has teamed with Villarreal CF, where they have achieved a deal for the cryptocurrency trading platform to become the Official Crypto Exchange Partner for the Yellow Submarine for the rest of the season. In other words, the Zoomex logo will be prominently displayed throughout the 2022-2023 season, including on the back of the men's first team's uniforms.
What did Zoomex plan for its community
Because Zoomex has teamed with Villarreal CF, the company is giving away over 200 more tickets to fans so they may see Villarreal CF play live in Spain. A teaser campaign has recently been introduced, and people may participate by making guesses to win tickets.
Later this week, the winners will be announced on the company's Twitter page. The most recent promotion is the International Beer Festival Campaign, and consumers may submit a claim for their weekly allotment of $8 in beer cash. In addition, a significant marketing initiative titled "Sharing $100,000 Cash" will be rolled out to celebrate the collaboration. Simply sign in to your Zoomex account and keep up with the most recent happenings!
What is Zoomex?
The Zoomex exchange is a cryptocurrency trading platform that uses cutting-edge blockchain technology.
Zoomex wants to set itself apart from the competition by being known as a company that prioritizes its consumers and offers the highest possible level of protection for their possessions. Zoomex was established in 2021 and has since catered to more than a million crypto customers. The company has had great development over the course of the last year and is now ranked among the top derivatives exchanges on the CoinMarketCap.
"As a young and fast-growing company, we are more than thrilled to partner with Villarreal CF in this special season to celebrate the club's centenary. Zoomex and Villarreal CF share the same passion for being a benchmark in the industry. This deal brings us an opportunity to narrate the future of the crypto ecosystem to world football fans who never settle for the status quo and believe in faith," said Amos.Z, founder of Zoomex.
The Zoomex advantages
Zoomex ensures that its clients' assets will remain secure by developing a trading environment with a one-of-a-kind security mechanism. The confidence of the platform's users is put first, and the platform itself assures that the exchange will always operate honestly and openly. In addition, it protects the clients' funds by using the most advanced multi-signature security system and cold and hot wallet systems.
Even when the market shifts, Zoomex maintains its position as the industry leader in the financial sector. Trading in perpetual contracts for USDT as well as perpetual inverse contracts is supported. Customers have access to a wide range of trading settings thanks to the company's support for over 50 different trading pairs for alternative cryptocurrencies, among which are trading pairs for USDT and BTC.
Depositing and withdrawing funds is possible around the clock on the Zoomex platform, contributing to the trading environment's user-friendliness. Trading conditions are improved as a result of the fact that they are able to deposit and withdraw their assets at any time they want.
Stay up-to-date on everything Zoomex has planned and follow them on social media platforms: Kakaotalkopenchat, Telegram, Blog.naver, Twitter, and Medium.
Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice
Crypto Weekly Roundup: BlackRock Launches Bitcoin Trust, Eth’s Goerli Testnet Live, Curve Hack, And More
The week has been momentous as Ethereum finally completed its final testnet before going live with the PoS system on its mainnet. The developer team has also set a soft launch date for the mainnet merge. Therefore we might be getting the upgrade sooner than expected. Let’s dig deeper.
Bitcoin
The investment management company, BlackRock, has launched a private trust, which will be its first product offering direct Bitcoin exposure.
President Nayib Bukele has been gushing about the positive effects of El Salvador’s Bitcoin policies on its tourism industry.
Ethereum
Ethereum has completed the final scheduled test before The Merge, moving it closer to adopting the Proof-of-Stake model.
Ethereum developers have agreed to a tentative date for the mainnet merge, which could be sooner than expected.
DeFi
Curve Finance reported that an exploit on the site’s nameserver and front end resulted in a loss of over $573,000.
The co-founder of MakerDAO has expressed that he plans to sell $3.5 billion worth of USDC for ETH, which puts the DAI token at the risk of losing its dollar peg.
Altcoins
Crypto solutions company Ripple has just published a new report on crypto trends in business, highlighting the blockchain-driven Internet of Value.
Technology
According to a report, up to a third of stolen crypto funds (over $50 million) are being used to fund the North Korean missile program.
Days after the U.S. government announced sanctions against crypto mixing platform Tornado Cash, Ethereum co-founder Vitalik Buterin defended the platform's use case for legitimate contexts.
Business
The parent company behind the Ripple network has expressed interest in purchasing assets belonging to the bankrupt Celsius Network.
Reddit has partnered with FTX to enhance the user experience on the Community Points project for over 400 million monthly active users.
Hodlnaut has become the latest crypto lending platform to halt withdrawals, token swaps, and deposits, citing difficult market conditions.
Regulation
Newsletter and email marketing firm Mailchimp has suspended the accounts of several crypto platforms this week.
An anonymous user has been sending small amounts of Ethereum via Tornado Cash to hundreds of public wallets in the U.S., including popular celebrities.
Crypto.com has secured access to the South Korean crypto market after acquiring two local companies providing it with EFTA and VASP registration in the country.
NFT
After welcoming USDT into its fold, the blazing fast, energy-friendly Tezos blockchain network is enjoying rapid traction in both the NFT and the DeFi spaces.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Bitfinex May Face Criminal Investigations in U.S.
The sister company of stablecoin Tether, crypto exchange Bitfinex, is facing the possibility of criminal investigations in the United States according to the Department of Justice (DOJ) in a reply to a Freedom of Information Act (FOIA) request shared on Twitter earlier this week. Bitfinex has for a long time been under scrutiny for its actions, and if reports are to be believed, it will be subject to investigations yet again.
The DOJ has since denied a request for information regarding Tether Holdings Limited, its parent company iFinex Inc. and other subsidiaries, including Bitfinex, citing Exemption 7(A) of the FOAI Guide. The exemption precludes the disclosure of:
Records or information compiled for law enforcement purposes, but only to the extent that production of such law enforcement records or information ... could reasonably be expected to interfere with enforcement proceedings.
The individual who filed the request in February 2022 is Twitter user oleh86, and according to it, the request itself asked:
Dear Sirs, Pursuant to Freedom of Information Act (FOIA), 5 U.S.C. § 552, I am hereby requesting any and all information in the possession of the US Department of Justice on jointly and severally TETHER HOLDINGS LIMITED, TETHER LIMITED, TETHER INTERNATIONAL LIMITED, TETHER OPERATIONS LIMITED, IFINEX INC., BFXNA INC., and BFXWW INC.
The denial of the request read as follows:
Looks like #Bitfinex is in legal proceedings in the US - the DOJ denied my FOIA request on grounds of Section b(7)(A) aimed at preventing pretrial publicity that could impair a court proceeding.
The exemption essentially prevents the public from getting information about the legal enforcement of the company. It is done to ensure that people with information do not try and tamper with evidence or try anything that would unduly influence the proceedings.
Bitfinex’s Legal Woes
Bitfinex and sister company Tether has been facing heavy scrutiny from legal entities for a long time. In 2021, Bitfinex and Tether had to pay $42.5 million in fines to the U.S. Commodity Futures Trading Commission (CFTC) in civil monetary penalties.
Bitfinex has also faced multiple investigations from civil and criminal entities in the U.S. regarding whether stablecoin issues Tether, was being truthful about the state of its reserves.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Tezos Is Gaining Traction In DeFI, NFTs & More
Following a busy summer that saw Tezos host its annual developer conference in Paris shortly after welcoming USDT into its fold, the blazing fast, energy friendly blockchain network is enjoying rapid traction in both the NFT and the DeFi spaces.
The TEZ/DEV conference, which wrapped up on July 23, provided us with an in-depth look at the reasons why an increasing number of projects are looking to build on the Tezos blockchain. Tezos is well known for being one of the most environmentally-friendly blockchains around with an incredibly low carbon footprint, but few are aware of its blazing-fast transaction speed.
Tezos can currently process an already impressive 40 transactions per second but it has ambitions to go far faster than that. At TEZ/DEV, it announced plans for a coming update due next year that will see it accelerate to an incredible 1 million transactions per second - making it by far and away the fastest decentralized network on the planet. To get an idea of how much faster that is than anyone else, Visa itself can only process around 65,000 transactions per second.
This incredible speed target of Tezos is one of the reasons why some analysts believe Tezos could eventually become the gold standard for blockchain-based finance. A report by the Bank of America last year noted that Tezos is being explored by dozens of organizations that are looking at ways to make their business processes run faster and more efficiently. The report added that in terms of developer interest, Tezos is one of the most popular of all blockchains.
In his keynote speech at TEZ/DEV, Tezos co-founder Arthur Breitman discussed his vision of the kinds of organizations he sees building on Tezos, highlighting his belief that it will become the platform of choice for financial services firms.
DeFi on Tezos is already growing fast, thanks in part to the recent launch of Tether USD on its blockchain. With USDT now available on Tezos, it vastly simplifies the on-ramp and off-ramp into Tezos's DeFi ecosystem as it provides users with the safe-haven of a stable asset from which they can move into, and out of, positions.
The DeFi community on Tezos has moved quickly to embrace USDT. Within hours of its launch, the Youves DEX voted to create USDT trading pools, and currently offers USDT holders with long-term farming rewards of up to 15% APR. Another DeFi protocol to accept USDT is Plenty, which offers incredible long-term annual yields of 40% and 34%, respectively, in its kUSD/USDt and uUSD/USDt farms. Meanwhile at QuipuSwap, users have created a tez/USDt pool with similarly enticing rewards. Moreover, the Atomex Wallet has introduced atomic swaps with USDt on Tezos.
The potential of Tether USD on Tezos was not lost by major cryptocurrency exchanges either, with both Binance and Bitfinex announcing they'll support trading almost immediately after its launch. The support of Binance is interesting because it opens the door to other stablecoins potentially looking at Tezos. Bitfinex has been especially accommodating, making it possible to deposit and withdraw USDT. What's more, all types of USDTs are unified for trading purposes, meaning users have the flexibility to deposit ERC-20 USDT, trade with it, then withdraw it on Tezos.
Tezos Chief Technology Officer Paolo Ardoino said at the time that Tether USD was sure to aid Tezos's future ambitions. "Tezos is coming fast onto the scene and we believe that this integration will be essential to its long-term growth," he added.
Elsewhere, Tezos continues to make rapid inroads in the NFT space. NFTs have been one of the biggest success stories for Tezos, due in part to its low carbon impact. Artists tends to be more environmentally conscientious than most and the appeal of Tezos's "clean NFTs" has made a big impact. Numerous high-profile artists have launched collections on its blockchain, among them Doja Cat. More recently, there have been rumors that Spotify is looking at using Tezos for its own music NFT projects. To give you an idea of where this might be headed, check out the OneOf music NFT marketplace on Tezos, where users can trade digital assets without even realizing that everything is based on blockchain technology.
There are other reasons to believe in Tezos too, with recent partnerships and sponsorships with sports teams like Manchester United, the New York Mets, Red Bull Racing and McLaren providing tons of optimism for its future. These sponsorships will ensure Tezos benefits from greater visibility beyond its immediate audience and help it to continue to expand its horizons.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
Metaverse Memecoin Tamadoge Raises $1 Million Midway Through Its Beta Sale
London, UK, 10th August, 2022, ChainwireTamadoge, the P2E metaverse meme coin, has raised $1 million after just 12 days of its beta sale. The beta sale began on July 25 and is scheduled to run until August 31, but will finish before then when the $2 million hard cap is reached. Once the presale has concluded, the TAMA token will be listed on LBank exchange.
Unlike most so-called memecoins, Tamadoge has been designed to have real utility. It serves as the native currency of a games platform populated by virtual Tamadoge pets. Owners can mint, breed, and battle Tamadoges to level up. A mobile “battle” beta version of the app is scheduled for release in Q4 2022.
Tamadoge ultimately aims to raise $10 million to build out its play-to-earn GameFi ecosystem, with $2 million coming from the ongoing beta sale in which 1 TAMA can be bought for 0.01 USDT. ETH and fiat currency are also accepted for the beta sale. From September, the token price will rise by 25% as the second phase of the public sale commences. The current beta sale is effectively an open private sale, sometimes referred to as a “fair sale” because ordinary investors can take part with a minimum purchase of just $10 and no maximum. Half of the total supply of 2 billion TAMA tokens is available for purchase in the presale. Adding to Tamadoge’s fairness credentials, there is no vesting period for presale buyers and there is no private sale.
Tamadoge utilizes NFTs, each of which represents a virtual pet. Owners are tasked with nurturing their pets from birth to adulthood. As the Tamadoge grows, it develops greater strength and skills and as it moves up the leaderboard it can participate in battles with other pets. In the Tamadoge Store players can buy food, clothing, and cosmetic items for their pets. The more they look after their pet the more Dogepoint rewards they’ll earn.
Because of the use of NFTs, in-game assets are easily tradable as uniquely valued assets. Transaction fees from store sales go towards funding the Dogepoint rewards system. In addition, TAMA is deflationary which supports token price and the rewards pool is not dependent on speculation.
Tamadoge has been designed to make Play-to-Earn fun, having drawn lessons from the mistakes of early P2E games. Many of these were criticized for tedious and skill-less gameplay, which made earning rewards arduous and boring. Early next year Tamadoge will be looking to explore partnerships with existing metaverse platforms with a view to onboarding its virtual reality vision. It is envisaged that each pet will have a 3D avatar version that can be plugged into virtual worlds on a variety of existing platforms. Tamadoge believes that interoperability and extensibility are essential for metaverse success and the team is therefore developing an ecosystem that is platform-agnostic.
TAMA buyers can connect their wallet at https://bitesly.io/box_5a66b923931a8851e48a252348c79bc5 to participate in the beta sale.
The TamaDoge contract address is: 0x12b6893cE26Ea6341919FE289212ef77e51688c8
For more information, visit:
Website: Tamadoge.io/
Whitepaper: Whitepaper
Social Channels: https://t.co/bAE0la22Rx
Security audited: https://tamadoge.io/wp-content/uploads/2022/07/SolidProof-TamaDoge.pdf
Not for general publication, press only – for more information contact Gary McFarlane at 07472 703 288
ContactsHead of [email protected]
DeFiChain Community Brings Attractive Rewards For DFI ERC-20 Pairs on Uniswap
Singapore, Singapore, 7th August, 2022, ChainwireDeFiChain, the world’s leading blockchain on the Bitcoin network dedicated to bringing decentralized financial applications and services to everyone, is thrilled to announce that its community has voted to offer lucrative liquidity mining rewards for the ERC-20 format of its native DFI token pairs on Uniswap. The proposal put forth by DeFiChain’s Lead Researcher received more than 96% votes in favor.
DeFiChain has allocated one million DFI tokens from the Community Fund to incentivize liquidity mining for the DFI-ETH, DFI-USDT, and the new DFI-USDC pairs on Uniswap.
The Community Fund receives a small percentage of the block rewards and has accumulated over 27,092,291 DFI tokens, which are available to anyone interested in developing on the DeFiChain blockchain. However, funds are only released if more than 51% of the nodes agree to the proposal. Masternodes are eligible to sign a message to either agree or deny a proposal.
With leading exchanges like Bybit and KuCoin now supporting DFI in ERC-20, the DeFiChain community voted to increase the token’s utility in the ERC-20 format. The incentives are aimed at increasing the trading volume of the ERC-20 format of DFI, and boosting the visibility and awareness of DFI in the wider DeFi ecosystem. The increased trading volume should also encourage more adoption of DFI by other exchanges and services.
Santiago Sabater, the CEO of DeFiChain Accelerator said, “With the new liquidity pools and the various upcoming projects to increase the utility of DFI on ERC-20, DeFiChain’s adoption is growing massively. DeFiChain is opening the gates to offer its decentralized assets such as decentralized stocks, commodities and ETFs to the whole DeFi community on the Ethereum blockchain. This will result in massive capital inflows, pleasuring DeFiChain’s investors while creating new use cases for Ethereum users.”
The liquidity mining rewards will be distributed in the following manner:
DFI-ETH pair at 0.5 DFI per Ethereum block
DFI-USDT pair at 0.25 DFI per Ethereum block
DFI-USDC pair at 0.25 DFI per Ethereum block
In total, one DFI token will be distributed per Ethereum block. Just like DFI emission rate on DeFiChain mainnet, block reward is scheduled to reduce by 4% every 7 days (in blocks) starting 9AM UTC on August 22. Before that, rewards will only be distributed at a constant rate of 1% of the above rates. It is estimated to allow the reward to sustain well over a year.
A smart contract will be published on Ethereum mainnet that allows the rewards to be paid out in accordance to the schedule. Upon publishing of the smart contract, DFI will be placed in the smart contract in tranches, for safety reasons.
An accompanying decentralized app will be launched for liquidity providers to take part in the liquidity mining program.
About DeFiChain
DeFiChain is a decentralized Proof-of-Stake blockchain created as a hard fork of the Bitcoin network to enable advanced DeFi applications. It is dedicated to enabling fast, intelligent, and transparent decentralized financial services. DeFiChain offers liquidity mining, staking, decentralized assets, and decentralized loans. The DeFiChain Foundation's mission is to bring DeFi to the Bitcoin ecosystem.
ContactsBenjamin [email protected]
TRON Grand Hackathon Season 2 Closes out Submission with over 1800 Participants
Geneva, Switzerland, 4th August, 2022, Chainwire–Season 2 of The TRON Grand Hackathon 2022 has seen a wave of submissions receiving over 1800 participants since it kicked off on May 16, a staggering increase from Season 1 of the Grand Hackathon earlier this year. Similar to the first season, TRON DAO and BitTorrent Chain (BTTC) aim to inspire developers to achieve their project goals.
The second season of the TRON Grand Hackathon consisted of over 30 major partners, nearly 40 different judges, and a community voting system. TRON DAO participants could take part in helping move the needle for their favorite projects building on TRON and BTTC across all four tracks: DeFi, Web3, GameFi, and NFT. Within these four tracks, there are 74 submissions for Web3, 48 for DeFi, 50 for NFT, and 30 for GameFi. Project submissions came across 64 different countries, and total participants from 104 countries. The diversity in participant submissions further highlights the growth of TRON’s global audience.
The increase in applicants is not the only area of growth in the TRON Grand Hackathon. The prize pool has also doubled from $500,000 in Season1 to $1,000,000 in Season 2, this increase in the prize pool is due to the increasing number of successful projects being built on the TRON and BTTC networks. The number of winners has also increased from five per track, to eight. The prize pool for each track is as follows:
1st Prize - $60,000
2nd Prize - $40,000
3rd Prize - $30,000
4th Prize - $25,000
5th Prize - $20,000
1st Runner Up - $5,000
2nd Runner Up - $5,000
3rd Runner Up - $5,000
What Are Judges Looking For?
The judges have already started the vetting process to find the next big project. Across the four tracks, there are different qualities that judges are looking for. In the Web3 track, TRON DAO is looking for projects that are helping provide sustainable solutions that Web2 products could not create efficiently. In the NFT track, we are looking to find projects that take advantage of blockchain technology in order to help grow the creator economy. In the DeFi track, a big goal is to find projects focused on democratizing finance. Lastly, GameFi projects are aimed at creating enjoyable video games with native utility given to gamers.
Judging Timeline:
The judging began on August 1 at 9 a.m. EDT and will end on August 11 at 5 p.m. EDT. As mentioned earlier, TRON DAO users can take part in the voting process to help award the community favorite prize. Check out TRON DAO Forum to learn more about how to vote. The forum Hackathon poll is also live for everyone to view here.
Future Hackathons:
With the growing demand and success of our Hackathons, we intend on creating many more in the near future. An increase in applicants, prizes, partners, and judges are all a major goal for TRON DAO. TRON believes in creating incentives for projects to attain, as that inspires future pioneers to utilize our trusted network. TRON also believes in a virtuous cycle of supporting developers and projects to innovate on our blockchain as it helps onboard more users to the ever expanding TRON ecosystem.
For eligibility, rules, criteria, and further details, please visit TRONDAO.org/hackathon, the TRON DAO Forum, and TRON.Devpost.com/rules.
About TRON DAO
TRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of July 2022, it has over 104 million total user accounts on the blockchain, more than 3.6 billion total transactions, and over $11 billion in total value locked (TVL), as reported on TRONSCAN. In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. Most recently, the over-collateralized decentralized stablecoin USDD was launched on the TRON blockchain, backed by the first-ever crypto reserve for the blockchain industry - TRON DAO Reserve, marking TRON’s official entry into decentralized stablecoins.
TRONNetwork | TRONDAO | Twitter | YouTube | Telegram | Discord | Reddit | GitHub | Medium | Forum
ContactsFeroz [email protected]
Ethical Hackers Return $9 Million To Nomad Following Exploit
“White hat” or ethical hackers that safeguarded the funds on behalf of Nomad during the attack on the cross-chain bridge have begun returning the funds to a wallet address belonging to the company according to a report by blockchain security firm PeckShield. Thus far, about $9 million has been returned, amounting to 4.75% of the total loss.
Following an attack on the cross-chain token bridge Nomad that saw more than $190 million in funds stolen, the company published a wallet address on Wednesday for the recovery of the tokens. Data from Etherscan shows that almost $9 million of the total funds have been returned. Tokens returned so far include $3.75 million in USD coins, $2 million in Tether, $1.4 million in Covalent Query tokens, and $1.2 million in Frax.
The majority of the funds have come from known Ethereum Name Service domain wallet addresses, and these individuals are among the 300 wallets that took part in the hack. However, unlike the hackers, ethical hackers took swift action to ensure the safety of Nomad’s funds during the incident after the protocol requested that they return funds in a Tweet following the attack. The Tweet reads,
Dear white hat hackers and ethical researcher friends who have been safeguarding ETH/ERC-20 tokens, Please send the funds to the following wallet address on Ethereum: 0x94A84433101A10aEda762968f6995c574D1bF154.
In a statement included in the Tweet, it said,
We are actively working with a leading chain analysis firm and law enforcement to trace funds. All involved are prepared to take necessary action in the coming days. If you took ETH/ERC-20 tokens with the intention of returning them, we now have a process for you to do so.
Cryptocurrency custodian Anchorage Digital has been tasked to handle and safeguard the returned tokens.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
