Crypto News on 03 Oct, 2024

     Catch up on all the key developments in the cryptocurrency world from October 2, 2024. On this day, the crypto market saw significant movements, regulatory updates, and breakthrough announcements from leading blockchain projects. Explore in-depth analyses, price fluctuations, and expert commentary on trending coins and tokens. Whether you're tracking Bitcoin's latest performance or the rise of altcoins, our detailed coverage ensures you're always informed about the latest in crypto.

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Team Ireland gets ready to capture title at European Cyber Security Challenge

A team from Ireland will be competing at the annual European Cyber Security Challenge in Turin from 7-11 October. The event brings together teams of 10 from 31 countries from European and six invited nations to compete in on-site in Capture The Flag (CTF) style competitions. Each team’s players are aged under 25, and at least half must be aged 20 or under. Team manager and lecturer in cyber security at TU Dublin Mark Lane spoke to TechCentral about the process of putting the team together. How was the team assembled? It’s a long and varied process in fact and continues to evolve as we grow interest in CTFs/Team Ireland and grow the number of participants. For this year’s competition we actually started the process last year as soon as we returned from the 2023 European Cyber Security Challenge in Hamar, Norway. We held large CTF events for schools with UCD’s Cyberwise, and with TU Dublin late last year. We also ran several smaller CTFs for colleges and companies earlier this year, and our flagship CTF, ZeroDays CTF was held in Croke Park in March. Any students who engaged in these events and scored well were invited to try out more CTF challenges at our website. That website is up and running year-round so anyone that does well there can be invited to join us for some online CTFs and training. If they engage online and show promise they are invited to join our squad of candidates for the Irish CTF team. From this process we emerged with around 35 candidates in May. Over the summer we held several in-person bootcamps and training sessions for the squad and eventually picked the final 10 players (plus two reserves) in late August. Next year we will tweak the process again as we’re hoping to have more regional CTFs as part of a national CTF competition for schools and colleges. Was there any concern about how you would work as a team over having individual skills? We are very conscious of the team dynamic and making sure we have a harmonious camp, where everyone feels included and part of something. Because we meet in-person regularly over the summer, we do get to know the candidates well. We have an excellent team spirit, and one of the things I love to see is the players becoming friends outside of the CTFs. We are very inclusive and recognise that diversity is really important to a strong team. Also, most CTFs are team-based, and feature challenges across a range of fairly standard categories these days. As the ECSC continues to mature, we know the categories involved, so we can choose the final team based on having a balance of skills to compliment the categories of the challenges. Is it important to be an all-island team? Absolutely. If we look at sport as an example, most sports are now all-island teams, and that has obviously been beneficial in terms of success and in terms of cross-community bridge building too. We are a small island, and we are competing against some European powerhouses in terms of population bases and resourcing. So, the bigger the base of players we can have the better. It would be a shame to miss out on all of those potential players, and a shame to not give them the opportunity to participate in what has become a massive annual event, in terms of scope, size and importance. This year two of our 10 are from Belfast, and hopefully they are just the first of many from the North. This year we truly are an all-island team with players from Dublin, Belfast, Cork and Donegal, and everywhere in between. We’re also a very diverse team in terms of different ethnic and cultural backgrounds, gender, LGBTQ+ and neurodiversity. We are a team for everyone, and that diversity really does make us stronger in terms of skills, outlook and team spirit. Players want to stay involved afterwards, and it’s great to be able to draw on their experience now to help coach the next generation. In fact, our previous two captains, Emmet Leahy and Daniel Cahill, are now coaching the team. How does the competition work? The ECSC has been running since 2016 in it’s current guise. We actually took part that year along with nine other teams, in Dusseldorf, Germany. It has grown year-on-year (apart from two years when it didn’t run due to Covid). This year is the biggest so far, with 31 EU/EFTA (European Free Trade Agreement) countries competing, along with six guest countries including Australia, Kosovo and Singapore. The two days of competition are gruelling. The first day is a traditional ‘jeopardy’ style CTF, where teams will complete challenges across a range of categories such as cryptography (crypto), binary exploitation (pwn), web exploitation (web), reverse engineering (rev), forensics, hardware and miscellaneous (misc, which basically covers everything else including OSINT). As the teams solve challenges they find flags, which they submit to earn points on the scoreboard. The second day of competition is an attack/defence (A/D) CTF. In this type of CTF each team is given a bunch (usually between six and eight) deliberately vulnerable servers/services. They have to keep their services running to gain points, patch their own vulnerabilities and exploit those of other teams. The points across the two days are averaged to decide the winners. To make things more exciting the scoreboard is made invisible for the final two hours each day, so the teams don’t know who’s leading. This makes the awards quite tense and exciting. Germany are the current holders, and hosts Italy are favoured, though every year there are dark horses that surprise everyone. Another evolution of this competition is the International Cybersecurity Challenge (ICC) which is in it’s third year, to be held in Chile at the end of October. It’s a pan-continental CTF, which Team Europe has won for the first two years. This year our Irish team captain Cillian Collins became the first Irish player to make Team Europe, so that’s a sign of the progress we are making. Our team is run entirely by volunteers, and we have made significant progress with very little resources. Resourcing is an ongoing issue; if we want to keep growing and building we really need drastic increases in resourcing and full-time staffing. This year we received grant funding from the NCSC, which was a big help. We also received sponsorship from hot Irish threat-intelligence start-up Cytidel and security service provider ReliaQuest, as well as support from ZeroDays and TU Dublin. We wouldn’t be able to do it without that support, and we’re really hoping to increase the funding substantially going forward. It’s good for everyone from the players, to industry, to government, academia and the country for us to continue to build on what we have achieved so far. As a lecturer how important do you think events like this are for fostering young talent? Incredibly important, to be honest. There are lost of cyber security initiatives happening aimed at young people. However, most of them are more focussed on cyber security awareness. I genuinely believe that CTFs are the best way of finding, encouraging and fostering young talent. I have been running ZeroDays CTF since 2015, but it was only in 2022 that we had our first schools section in the competition. Having the schools involved was amazing right from the start. Firstly we had 50% girls taking part, which was way about the norm for STEM related activities. Secondly we found some incredible raw talent. 2023 was our second year with schools taking part in ZeroDays Cyber Schools category, and two 16-year-old participants from that ended up making the Irish team for the ECSC in Norway last year. This year we had players as young as 14 making our squad of candidates, with three under-18s (one as a reserve) making the team for Turin. This has been from a still relatively small number of schools participating. In TU Dublin we have seen record numbers of first year students choose cyber security on the CAO, and a substantial percentage of them chose the course only after participating in our ZeroDays schools CTFs. We have also seen a related increase in the number of female students joining. We have around 25% female cyber security students in the past two years, which I’m told is (by a fair margin) the highest percentage in the country. Next year we are hoping to announce a new all-Ireland CTF competition for schools and colleges, as well as an accompanying course and online resources. Still a lot of work to do on that, but it’s something my team is passionate about making happen, and we are currently in talks to make it happen. TechCentral Reporters Read More: cyber security security

 2024-10-03 15:45:38

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XRP slides 9% after SEC appeals decision in landmark Ripple case

The price of the XRP token tumbled Thursday, a day after the Securities and Exchange Commission filed to appeal a 2023 court ruling that determined XRP is not considered a security when sold to retail investors on exchanges. XRP was last lower by more than 9% at 52 cents a coin, according to Coin Metrics. Ripple, the largest holder of XRP coins, scored a partial victory last summer after a three-year battle with the SEC. U.S. District Judge Analisa Torres handed down the decision, which was hailed as a landmark win for the crypto industry. Still, while XRP isn't considered a security when sold to retail investors on exchanges, it is considered an unregistered security offering if sold to institutional investors. Ripple declined to comment but referred to Wednesday evening posts on X by CEO Brad Garlinghouse and chief legal officer Stuart Alderoty. Alderoty said the company is evaluating whether to file a cross appeal, and called the SEC's decision to appeal "disappointing, but not surprising." The SEC, under Chair Gary Gensler, has become notorious for its refusal to provide clear guidance for crypto businesses, instead opting to regulate by enforcement actions. "XRP's status as a non-security is the law of the land today - and that does not change even in the face of this misguided - and infuriating - appeal," Garlinghouse said on X. Earlier on Wednesday, Bitwise Asset Management, an issuer of ETFs tracking bitcoin (BITB) and ether (ETHW), submitted a registration filing for what would be the first XRP ETF – two days after registering an XRP trust product in Delaware. Grayscale, which also has bitcoin (GBTC) and ether (ETHE) ETFs, introduced a similar trust product in September. XRP, which was created by the founders of Ripple, is the native token of the open source XRP Ledger, which Ripple uses in its cross-border payments business. It is the fifth-largest coin by market cap, excluding stablecoins Tether (USDT) and USD Coin (USDC). Elsewhere in the crypto market, bitcoin hovered above the flat line at $60,210.29, while ether fell more than 2% to $2,320.20. Crypto stocks Coinbase and MicroStrategy were lower by about 1% and 2%, respectively.

 2024-10-03 15:08:40

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BBVA eyes stablecoin launch backed by Visa collaboration for 2025

BBVA, one of Spain’s leading financial institutions, is pushing ahead with plans to introduce its own stablecoin next year in a collaboration with Visa. This initiative is part of Visa’s sandbox program designed to assist companies in developing tokenized assets. BBVA’s new stablecoin aims to streamline digital transactions, focusing on providing a secure settlement layer for asset tokenization, particularly in areas like real estate and private credit funds. The project is still in its early phase, with BBVA navigating regulatory frameworks and fine-tuning technical requirements for stablecoin issuance. The bank has yet to decide on the backing of the currency, considering options like deposits, money market funds, or fiat currencies such as the euro and U.S. dollar. The flexibility around its backing will likely allow BBVA to adapt to evolving market demands, especially as regulations around digital currencies continue to be clarified. Visa’s sandbox has been instrumental in BBVA’s progress, offering a safe testing environment to explore the potential of tokenized assets. The program, which has helped several firms launch digital financial products, is seen as a crucial step in providing the bank with the tools and guidance needed for a successful stablecoin rollout. While many other financial institutions are still exploring the possibilities of blockchain and tokenization, BBVA’s decision to move forward with a stablecoin is seen as a bold move. By 2025, the bank aims to enter live testing, allowing for the currency’s use in various exchange settings. This is part of a broader strategy by the bank to integrate more digital solutions into its operations, reflecting the financial industry’s growing interest in blockchain technology. BBVA’s stablecoin is expected to play a pivotal role in transforming the way large transactions are settled. By tokenizing assets, the bank hopes to reduce transaction costs and improve efficiency, particularly in traditionally cumbersome processes like real estate purchases and private lending. It also aligns with broader trends in the financial sector where tokenization is increasingly being used to streamline asset management and trading. The stablecoin could also help BBVA tap into a growing demand for digital currencies, especially as businesses and investors seek faster, more transparent ways of handling large transactions. As part of this effort, BBVA has been working with regulators to ensure that its stablecoin will meet all necessary compliance requirements, a key step in gaining broader market acceptance. BBVA’s collaboration with Visa is not an isolated venture. Visa has been heavily involved in developing digital currency frameworks, helping banks and financial institutions innovate in the crypto space. Visa’s experience in handling global payments and building scalable digital platforms is seen as a valuable asset in helping BBVA bring its stablecoin to market. While it is still early days for BBVA’s stablecoin initiative, the bank’s decision to move forward is an indicator of how seriously major financial institutions are taking the future of digital currencies. By focusing on tokenized assets and stablecoins, BBVA is positioning itself as a leader in the digital transformation of the financial sector. This is particularly crucial as the banking industry faces increased pressure to modernize its operations and offer more digital solutions to its customers. Analysts expect BBVA’s stablecoin to be a game-changer, particularly in markets where digital payments and blockchain-based solutions are gaining traction. However, there are challenges ahead, especially as the bank finalizes its decision on the currency’s backing and navigates complex regulatory landscapes. The success of the project will depend on a combination of technological innovation, regulatory approval, and market adoption.

 2024-10-03 13:57:00

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CoinSwitch launches crypto futures trading; offers 25x leverage to traders

CoinSwitch, one of India’s largest crypto trading platforms, has announced crypto futures trading on its PRO platform. This new feature offers a versatile trading experience for selected users, allowing them to maximise their trading potential with leverage of up to 25x. With CoinSwitch futures, users can trade in over 350 contracts, including BTC, ETH, SOL, MATIC, and XRP. CoinSwitch Futures enables users to take long (buy) or short (sell) positions on perpetual futures contracts and can also hedge their spot holdings. According to the company, the platform has competitive commission rates and ensures users benefit, with the lowest fees in the market. Additionally, new users can avail 100% commission rebate for the first 15 days. “The launch of CoinSwitch Futures aligns with our mission to provide a comprehensive suite of crypto investment and trading options to our users. By offering leveraged futures contracts, we aim to cater to the needs of sophisticated traders seeking to capitalise on price movements in the dynamic crypto market,” said Balaji Srihari, Business Head, CoinSwitch. Last month, the company also announced specialised crypto investment services tailored for high networth Individuals (HNIs) and institutional investors to provide users secure and customised solutions. The platform has over two crore registered users and has raised $260 million in Series C funding from Coinbase Ventures and Andreessen Horowitz (a16z) in September 2021 to become a crypto Unicorn at a valuation of $1.9 billion.

 2024-10-03 13:25:14

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How to Play Online Slots with Cryptocurrency? - The Baltic Times

Online slots with cryptocurrency are becoming popular as more casinos adopt Bitcoin, Ethereum, and Litecoin. Crypto offers faster transactions, enhanced privacy, and lower fees than traditional payment methods, naturally becoming a favorite of gaming enthusiasts. This guide will walk you through playing online slots using cryptocurrency, from selecting a trustworthy platform to making secure deposits and withdrawals. You'll also learn the benefits of using crypto and how to choose the right online slots to play. Irrespective of your experience level with crypto, this guide ensures you understand the steps for smooth and fun gaming. Are you ready to play exciting online slots with cryptocurrency? Let’s learn how to maximize your enjoyment and security while spinning the reels with your favorite digital currency. Tips for Playing Crypto Slots Online for the First Time Playing slots online for the first time can be both exciting and challenging. Here are some practical tips to help you get started smoothly and increase your chances of a rewarding experience: 1. Understand the Basics of Cryptocurrency: If you haven't already, familiarize yourself with buying, storing, and using cryptocurrency. Set up a secure crypto wallet for your transactions. 2. Start Small: When you’re new, it’s wise to start with smaller bets until you get a feel for the games and understand how the crypto transactions work within the casino. 3. Avail of Bonuses: Many crypto casino games to play online offer welcome bonuses, free spins, or no-deposit bonuses. These can provide extra value but read the terms and conditions for any wagering requirements. 4. Check the RTP and Volatility: Check its Return to Player (RTP) percentage and volatility before playing a slot game. Higher RTP games offer better long-term returns, while volatility indicates how often you can expect to win. 5. Set a Budget: Effective bankroll management is crucial. Decide beforehand how much cryptocurrency you are willing to risk and stick to that budget to avoid potentially losing more than you can afford. 6. Learn the Game Features: Familiarize yourself with the slot game’s features, such as paylines, bonuses, and wild symbols, which can affect gameplay and enhance your chances of winning. 7. Play for Fun First: If available, try playing the slots in demo mode first. This will help you understand the game mechanics without risking your crypto. 8. Stay Informed: Cryptocurrency values can fluctuate wildly. To manage your funds better, stay informed about the current value of the crypto you are using to play and win slots. 9. Practice Responsible Gambling: Remember that gambling should be done for entertainment, not to make money. Know when to stop, and do not chase losses. Can You Win Real Money Playing Slots Online? Yes, you can indeed win real money playing slots online. Reputable online casinos are regulated and use Random Number Generators (RNGs) to ensure fair gameplay, mirroring the randomness of physical slot machines. Players deposit real money into their casino accounts to bet on these games, and winnings are genuine monetary gains that can be withdrawn according to each casino's rules. Online slots often offer a more comprehensive selection than physical casinos, including games with high Return to Player (RTP) percentages, which can improve winning chances. Additionally, many online casinos offer free spins or no-deposit bonuses that increase your chances of winning without additional risk. Particularly lucrative are the progressive jackpots, which can grow to be worth millions of dollars. However, it’s essential to approach online slots cautiously, as they are games of chance. Responsible gaming practices, such as setting spending limits and knowing when to quit, are crucial to ensuring a safe and enjoyable gaming experience. How Do You Play Online Slots with Cryptocurrency? Playing online slots with cryptocurrency is a straightforward process combining the excitement of online gaming with the convenience and security of digital currency. Here’s how you can get started: 1. Choose a Crypto Casino: First, select an online casino that accepts cryptocurrency. Look for reputable platforms that support your preferred cryptocurrency, such as Bitcoin, Ethereum, or Litecoin. 2. Set Up a Cryptocurrency Wallet: You need a cryptocurrency wallet like TrustWallet, MetaMask, or others before depositing cryptocurrency into the casino. This digital wallet stores your cryptocurrency and sends and receives funds. 3. Deposit Funds: Once your wallet is set up, you can deposit cryptocurrency into your casino account. Navigate to the casino’s banking or cashier section, select the deposit option, choose your cryptocurrency, and then transfer funds from your wallet to the casino using the provided address. 4. Claim Any Bonuses: Many crypto casinos offer welcome bonuses or promotions for new players. Check for any deposit bonuses you can claim when you add funds. 5. Choose Your Slot Game: Browse the casino’s slot game selection with funds in your account. Crypto casinos often offer various slots, including classic, video, and progressive jackpot slots. 6. Adjust Your Bet Size: Adjust the bet size to suit your budget before spinning the reels. Cryptocurrency casinos typically show bets in their crypto equivalent, so watch how much you’re wagering. 7. Play the Game: Now, you’re ready to play. Hit the spin button and watch the reels go. The rules and payouts for crypto slots are similar to traditional online slots, so that the experience will be familiar. 8. Withdraw Winnings: If you win and want to withdraw your earnings, return to the cashier section, select withdraw, and transfer the winnings back to your cryptocurrency wallet. Conclusion: Can You Win A Lot Of Money On Online Slots? Playing online slots, which blend engaging entertainment with the chance to earn monetary rewards, can result in significant wins. These online versions of traditional slot machines offer a broad array of themes, cutting-edge features, and the flexibility to play from anywhere at any time. Choosing a reputable, licensed online casino that guarantees fairness and security is crucial to maximizing your chances of winning. Players can make more informed decisions by understanding essential game mechanics such as paytables, RTP rates, and the role of random number generators. Although online slots are primarily games of chance determined by RNGs, opting for games with higher RTPs and strategically using bonuses can improve your odds. Above all, adhering to responsible gambling practices is essential to ensuring that the excitement of the game does not negatively impact personal well-being. With the right approach, playing online slots can be rewarding and enjoyable. Advertising and Marketing by: This content was marketed by 747mediahouse.com on behalf of their client. For queries, reach out at [email protected].

 2024-10-03 12:46:35

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The Most Important Difference Between Bitcoin And Crypto

Share to Facebook Share to Twitter Share to Linkedin Representation of Bitcoin and Ethereum cryptocurrencies are seen in this illustration photo taken in ... [+] Krakow, Poland on September 18, 2022. (Photo by Jakub Porzycki/NurPhoto via Getty Images) NurPhoto via Getty Images Bitcoin is the first, most popular, and biggest cryptocurrency by market cap. However, many Bitcoin advocates draw a sharp contrast between bitcoin and the broader “crypto” space. Michael Saylor, founder of MicroStrategy and a bitcoin bull, voiced this on CNBC's "Squawk on the Street." He said, "Speaking for all the bitcoiners, we feel trapped in a bad relationship with crypto, and we want out." Why such a stark divide between terms that appear closely related both linguistically and technologically? After all, every cryptocurrency is built on blockchain — a technology that allows transferring digital assets through a decentralized network, which maintains and updates the ever-growing transactions ledger. The essence of “bitcoin, not crypto” lies in the concept of decentralization. So far, no blockchain can compete with Bitcoin in this respect. However, we may still reconcile this perspective with the existence of other blockchains by recognizing the different purposes they serve. Decentralization Is A Spectrum Decentralization is a solution to avoiding central authority flaws. Bitcoin is revolutionary in achieving a truly decentralized value transfer system, based on cryptology and economic incentive — new bitcoin and transaction fees paid to the miners. In return, miners invest in specialized hardware and spend a lot of electricity. They do this to find proof-of-work for each block, thus securing the blockchain. Miners are motivated to keep Bitcoin safe, operating, and most importantly, censorship-resistant. An alternative to PoW is proof-of-stake, which requires validators to stake the blockchain’s currency to prove their good intentions. This consensus and its variations are now the most popular among blockchains, as they allow for higher scalability. However, PoS can create an oligarchic system. The more coins you stake, the higher your chances of adding a block and earning a reward. This makes you wealthier, allowing you to stake more coins. Unlike bitcoin miners, whose power remains unchanged after mining a block, PoS validators can grow their influence. MORE FOR YOU Today’s NYT Mini Crossword Clues And Answers For Thursday, October 3 NYT ‘Strands’ Today: Hints, Spangram And Answers For Thursday, October 3rd Federal Judge Halts California’s New Anti-Deepfakes Law—Musk Says Its ‘Score One’ For Free Speech Furthermore, centralization concerns extend beyond the PoS consensus. A small number of nodes, liquid staking protocols pooling user funds, nodes hosted by centralized services, high hardware requirements, and centralization risks related to MEV (maximal extractable value) practices are just some of the problems that most blockchains must face. On Ethereum, one of the most decentralized blockchains other than Bitcoin, nearly 35% of staked coins come from the top three decentralized liquid staking services, according to Dune Analytics. Another 20% come from the top three centralized services. Additionally, 69% of Ethereum nodes are hosted by three centralized providers, and 90% of the blocks are ordered by just three MEV-optimizing builders. With 1.16 TB, Ethereum blockchain weighs almost twice as much as Bitcoin (604 GB), making participation harder for average users. Yes, most blockchains are much less decentralized and therefore less censorship-resistant than Bitcoin. Moreover, unlike Bitcoin, which Satoshi Nakamoto handed to the community less than two years after its launch, most other blockchains are still tied to their founders. This group of insiders, including early investors, often retains significant control, notably through pre-minted coins. This further concentrates their wealth and power. Does this mean that the whole “crypto” space is useless? It may be too early to say that. Decentralization is a spectrum, and even less decentralized platforms still offer users more freedom and control than traditional web services. This gives them the potential to serve various use cases beyond money. Not All Cryptocurrencies Are Currencies Bitcoin’s primary goal is to create and sustain independent money. As more people place their trust in bitcoin as an alternative to traditional currencies, its value grows accordingly. In contrast, most other blockchains, like Ethereum or Solana, were designed as multi-purpose smart contract platforms. Their goal is to enable the development of decentralized applications, called dapps. Using these blockchains, the next phase of the internet, known as Web3, could enable innovative use cases ranging from gaming and social media to finance, commerce, and beyond. In this perspective, ether, the native coin of Ethereum, is not a cryptocurrency. While it can be invested in or traded, ether is more of a utility asset for Web3 than general-purpose money. Its primary role is to power the Ethereum blockchain, functioning as payment for transactions and an incentive for validators. As Ethereum-based dapps gain popularity, demand for ether increases to cover transaction costs. Also, smart contract platforms’ founding teams often operate much like traditional companies. They deal with issues like finding investment, solving technical problems, building communities, and marketing their products. The value of these blockchains' native coins reflects the quality of this work, distancing them from the notion of independent currency. In the Web3 space, many consider such an organization necessary to innovate, and it’s hard to disagree. However, efficiency at the expense of decentralization goes against the cypherpunk ethos. This further increases the divide between Bitcoin and crypto. Web3 is buzzing with activity. Yet, according to DappRadar, the top 15 blockchains collectively register only 165 million unique active wallets per month. The future of the space will likely hinge on finding the right balance between decentralization and innovation. It will also depend on the teams’ ability to pass on their projects to the community when the time comes. Blockchain-Based Tokens Beyond native coins like bitcoin and ether, blockchains host a wide array of tokens, each with different functions and levels of decentralization. These tokens include stablecoins, memecoins, protocol tokens, and all sorts of digital units that anyone can easily create using a smart contract. The tokens share the blockchain environment with native coins, but their value depends on the project that issued them. For years, the tokens fueled bitcoin maximalists’ disdain for all crypto but bitcoin. Numerous crypto scams, mostly involving such tokens, have caused significant reputational damage to the crypto space. They have even tarnished bitcoin in the process. With the introduction of Ordinals and Runes, some bitcoiners have reconsidered their stance on tokens. These protocols, which assign value to satoshis (bitcoin’s smallest units) or create tokens on Bitcoin, have sparked discussions about new use cases for the blockchain. However, following the initial hype, both protocols now see only modest usage. Since their peak in 2023, daily Ordinals inscriptions have dropped from over 400,000 to around 40,000. Runes etchings have fallen from over 35,000 in April to fewer than 400. So far, bitcoin's role as a better form of money is its main use, overshadowing any other. In short, bitcoin remains unmatched in its decentralization and primary role as an alternative form of money. Meanwhile, the broader crypto space is willing to compromise decentralization for innovation and new use cases. As a result, bitcoin and crypto are growing increasingly distinct. Follow me on Twitter or LinkedIn. Check out my website. Marie Poteriaieva Following Editorial Standards Forbes Accolades

 2024-10-03 12:22:55

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Everything you need to know about Moodeng Meme Coin

Moo Deng, a charming two-month-old pygmy hippo known for her playful antics and adorable expressions, has become the inspiration for a new meme coin.A cryptocurrency enthusiast recently reported turning their investment of 1 lakh into a multimillion-dollar fortune in just 17 days after investing in the newly launched Moo Deng meme coin. The user, known as Lookonchain, shared a screenshot on X, revealing their investment of 1,300 dollars (approximately 1 lakh) in Moodeng coins on September 10. Shortly after, as the price of the meme coin skyrocketed, their investment reportedly surged to over 12 million dollars. This means the crypto user's initial investment of 1 lakh grew to more than 100 crore in just 17 days, according to the post.Meme CoinMeme coins are cryptocurrencies named after popular memes and viral content, often featuring animals. Moodeng coinThe Moodeng coin was inspired by a baby hippo in Thailand that became viral on social media sensation for her small size and playful videos. Like other meme coins, such as Dogecoin, Moodeng coin isn't backed by any real asset. However, it’s leading the pack among wildlife-themed meme coins, reportedly trading at nearly twice the price of Dogecoin. According to Fortune, Moodeng's price has surged by more than 1,400% since its launch on September 10, though some investors warn the value could drop suddenly.Moo Deng, whose name means "bouncy pork" in Thai, has quickly become an internet sensation. The two-month-old pygmy hippo went viral on TikTok and Instagram with her playful antics, inspiring a wave of merch, memes, and even DIY tutorials on crocheting or baking Moo Deng-themed creations. Fans from around the globe have flocked to see her in person, leading keepers to limit her viewing time to just five minutes per visitor due to overwhelming demand.Her caretaker and social media manager credit short-form videos for skyrocketing the baby hippo's fame, hoping it will raise awareness for biodiversity conservation.According to the International Union for Conservation of Nature, pygmy hippos are the natives of West Africa. They are facing threats due to human activities like logging, mining, and poaching, and only 2,000 to 2,500 remain in the wild today.

 2024-10-03 12:17:10

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BBVA plans Visa-backed stablecoin launch in 2025

BBVA has not yet decided whether the stablecoin will be backed by deposits, money market funds, or fiat currencies such as the euro or U.S. dollar, said Maroto, who added the company plans for it to be used for the settlement layer on exchanges. BBVA has been working in the digital asset space since 2014, and Maroto hopes that the latest project will let the bank benefit from the growing trend of the tokenization of assets such as real estate and private credit funds. “We realized that blockchain could transform the way we exchange value digitally, and consequently affect the way the financial system works,” Maroto said. Stablecoin wars Stablecoins constitute a broad category in the crypto space, describing any asset intended to maintain a specific price and backed by reserves such as fiat currencies, commodities, or even other cryptocurrencies. While the sector has existed for a decade, dollar-backed stablecoins such as USDC and Tether have exploded in popularity over the past few years, with their backing companies earning hefty profits through the yields on the underlying assets, which typically include U.S. Treasuries and other dollar equivalents. Competitors from the traditional finance space have recently entered the race, including PayPal, which launched its PYUSD stablecoin in August 2023, as well as a bevy of overseas offerings that provide yield to their customers—an option restricted in the U.S. due to regulatory uncertainty. Last week, Visa announced a new product that would allow financial institutions such as banks to launch their own stablecoins, which Visa is calling fiat-backed tokens. While the use cases would vary, the idea would be for banks to choose the type of asset held as the reserve, which could vary from fiat currencies to deposits. While the tokens would initially work only within the bank’s own ecosystem, Visa head of crypto Cuy Sheffield told Fortune in April that the long-term plan would be to facilitate interoperability between different institutions, which is an advantage of more universal stablecoins such as USDC that can work across blockchains. Maroto said that BBVA wanted to work with Visa, rather than choosing an existing stablecoin option, because of Visa’s established brand and regulatory compliance. As one of the first financial institutions to experiment with the new product, BBVA also has the edge of operating mainly in Europe, which recently enacted stablecoin oversight. Maroto said that BBVA will likely build its stablecoin around the euro, given its European presence, and that it could be used for settlement on exchanges that offer tokenized assets, with BBVA handling the mint and burn mechanism that converts fiat into crypto ecosystems. Despite the goal of launching live testing next year, Maroto said that the U.S. is not on its short-term time horizon. BBVA currently offers the custody and trading of Bitcoin, Ethereum, and USDC in Switzerland for private banking and institutional customers and is launching in Turkey.

 2024-10-03 11:45:00

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What Are Crypto Futures? - The Baltic Times

Financial contracts called crypto futures let traders gamble on the future value of a cryptocurrency, say Bitcoin or Ethereum. Futures trading is not spot trading, in which you purchase and sell the actual commodity. It is rather anticipating whether the price of a cryptocurrency will climb or decline. Traders merely trade depending on price swings, they do not own the underlying item. Long (buy) and short (sell) positions are made possible by this, therefore enabling traders to profit from both rising and declining markets. Futures trading is special in that it lets you use leverage, hence enabling you to hold a bigger position with a smaller starting-out investment. But as losses can be magnified in the same manner, this also raises the danger. Important Terminology in Futures Trading in Cryptocurrencies Familiarize oneself with certain fundamental phrases before delving into futures trading: - Leverage lets you trade a bigger position than your real capital would let, so raising either possible gains or losses. - Margin: Usually stated as a percentage of the total trade value, the margin is the amount of money required to open a futures contract. - Long Position: Assuming future increases in the value of a bitcoin. - Short Position: Assuming the future price of a bitcoin will be lower. - Liquidation: Should the market turn against you and your losses beyond your margin, the exchange may liquidate your position to pay for those losses. Any novice should understand these words since they form the basis of future trading techniques. Starting With Crypto Futures Trading You will first need to pick a reliable exchange that provides futures contracts before starting. You can try trading crypto futures on PrimeXBT, for example. The following outlines how to begin going: Select a Futures Exchange When choosing a crypto futures exchange take into account elements including costs, leverage choices, security measures, and trading range of cryptocurrencies. Although some exchanges give up to 100x leverage, which might be alluring but also quite dangerous for newbies. Open and Fund Your Account You will have to open an account and make deposits following the choice of your favorite exchange. Most exchanges let you make deposits in stablecoins like USDT or big cryptocurrencies like Bitcoin. Some others might also embrace fiat money. Discover the Trade Interface Learn the trading interface once your account is set up. This will comprise order forms, price charts, and leverage levels. If the exchange provides a demo account, it's a good idea to practice using one so you may trade without running actual danger. Decide Your Leverage Starting low leverage, such 2x or 3x, as a novice helps you to lower your risk. Particularly in the erratic crypto market, high leverage can cause major losses even as it can yield fast profits. Risk Control in Futures Trading Trading crypto futures is naturally dangerous, hence long-term success depends on careful risk management. Following these guidelines will help you to properly manage risks: - Create stop-loss orders. A stop-loss order stops more losses by automatically closing your position at a designated level. - Moderate Your Leverage: High leverage raises the danger of liquidation even while it can boost earnings. Until they have more experience, beginners should keep to minimal leverage. - Never trade with more than your means to lose. Investing money only when you are ready to lose is crucial as the crypto market is somewhat erratic. Effective futures trading mostly depends on risk management, particularly in a market as erratic as cryptocurrencies. Investigating the Market Effective trading futures depends on a strong foundation in market analysis. Technical analysis and fundamental analysis are two basic forms of study applied in futures trading. Technical Review Examining price charts, trends, and technical indicators helps one to project future price changes in technical analysis. Common uses in crypto futures trading are indicators including the Moving Average (MA), Relative Strength Index (RSI), and Bollinger Bands. Basic Analysis More general elements influencing bitcoin prices—such as regulatory news, technical advancements, or market demand—are examined via fundamental analysis. Maintaining knowledge of significant events in the cryptocurrency space helps one to better forecast market swings and guide trading decisions. Typical Mistakes to Avoid Crypto futures trading can have a sharp learning curve for beginners, hence mistakes are unavoidable. Still, knowledge of frequent mistakes will help you reduce losses. Among typical errors are: - Leverage too much and you run the danger of liquidation. Stay with low leverage, particularly in the beginning stages. - Emotional trading—making snap decisions motivated by greed or fear—may result in bad trades. Stay to your trading plan and try to avoid emotional responses. - Ignoring Risk Control: Ignorance of stop-loss orders or lack of a risk management plan could result in large losses. Avoiding these errors can help you to trade more boldly and raise your chances of success. Keeping Track of Your Transactions Regular review of their transactions and strategy modification depending on performance help successful futures traders. Over time, keeping a trading diary in which you record the specifics of every trade—including entry and exit points, trade justification, and outcome—can allow you to hone your abilities. Essential also is keeping an eye on your open positions and modifying your stop-loss orders when the market moves. This helps you maximize gains or reduce losses should the market go erratic.

 2024-10-03 11:21:35

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Indonesia lauds its best cybersecurity warriors at the most prestigious IndoSec Awards 2024

The IndoSec Awards 2024 in Jakarta celebrated leaders in cybersecurity, honoring pioneers across seven categories amid a vibrant gala atmosphere. JAKARTA, INDONESIA, October 3, 2024 /EINPresswire.com/ -- IndoSec Awards 2024 took centre stage at Jakarta Convention Center on 25 September and recognized the leading pioneers, innovators and leaders who’re spearheading the digital security landscape. As Indonesia’s most desired award show, the platform attracted a huge number of attendees comprising renowned cybersecurity professionals, top government officials, and most senior industry experts from across the country, as well as influential global personalities. IndoSec Awards 2024 not only brought the sharpest minds from the industry in the limelight but also emphasized on the growing need for robust security measures in the face of escalating cyber threats. The award show honoured the remarkable achievements of individuals across seven exclusive categories for their exceptional leadership, innovation, and resilience. Below are the names of the category winners: • CYBER WOMAN OF THE YEAR - Elni Enita Manurung, Cybersecurity Lead, National Cyber and Crypto Agency (BSSN) • DIGITAL LEADER OF THE YEAR - Yusron Anas, CIO, Home Credit Indonesia • GRC LEADER OF THE YEAR - Krisna Kurniawan, VP Compliance and Risk Management for SHINE/NGBS, Bank KB Bukopin • GOVCYBER INNOVATOR OF THE YEAR - Samsu Sempena, Director – Technology, PMO Prakerja • ENTERPRISE SECURITY LEADER OF THE YEAR - Irvan Bastian Arief, VP of Data Science, ML Engineering, Tech Infrastructure & Information Security, Tiket.com • DEVSECOPS LEADER OF THE YEAR, Lioe Yanto Haryono, Vice President of Digital Information Technology, MODENA • CISO OF THE YEAR - Dr Freddie Low, CITO & CISO, PT Mitra Adiperkasa (MAP) • CISO OF THE YEAR - Johansen Sidabutar, CISO, Citibank Indonesia The jury at IndoSec Awards 2024 had a very tough time deciding the winners as they received over 250 nominations from across Indonesia. The jury itself comprised some of the most influential names from the industry including Dr Pratama Persadha, Chairman, CISSReC (Communication & Information System Security Research Center); Budi Rahardjo, Founder & Head, ID-CERT; Arif Ilham Adnan, Chairman of Permanent Committee, The Jakarta Chamber of Commerce and Industry; Jenny Tan, President, ISACA SG Chapter; Andang Nugroho, Task Force Head - Cybersecurity & Digital Sovereignty, MASTEL (Masyarakat Telekomunikasi Indonesia); Fanky Christian, Secretary General, APTIKNAS; and Rendy Maulana Akbar, Chairman, Asosiasi Cloud Dan Hosting Indonesia. Apart from rewarding the country’s finest talents in cybersecurity amidst a large gathering of key industry players, the platform also delivered a fine space for a fun-filled evening. It set a glamorous tone right from the word go and had the renowned Indonesian news anchor, Karina Basrewan, who is also a beauty pageant titleholder, as the master of ceremonies. The Takupaz Dance Crew gave an electrifying performance at the platform and created a lively atmosphere along with Forever Dance Crew and DJ T-Sha. Furthermore, to break the ice and allow space for great unwinding sessions, the evening ended on a high note with one of the most extravagant gala dinners that presented a scrumptious spread of dishes and a fine range of cocktails. All in all, it was a fulfilling show that gave Indonesia’s cybersecurity community a chance to unwind, feel appreciated for their hard work, and a moment to rejoice. For more information about the event, log on to: https://indosecsummit.com/ Media contact: Shrinkhal Sharad PR & Communication Lead shrinkhals@tradepassglobal.com + (91) 80 6166 4401 Tradepass About Tradepass Providing access to the global emerging markets, Tradepass brings together people, products and solutions to power events for unparalleled business and networking opportunities. Being the most accredited event company, it helps organizations: enter new markets, grow sales pipeline, close prospects, raise capital and identify the right solution-providers. As a deal facilitator, Tradepass is always determined about exposing the most agile liquid growth markets, to enable all-round scalability and growth.Riya Jain Tradepass +91 78298 01946 email us here Visit us on social media: Facebook X LinkedIn Instagram Legal Disclaimer: EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.

 2024-10-03 11:20:26

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Swiss Blockchain Awards Honor Ethereum Founders at CV Summit 2024

ZUG, SWITZERLAND, October 3, 2024 /EINPresswire.com/ -- At CV Summit, the inaugural Swiss Blockchain Awards recognised co-founders of Ethereum, including Vitalik Buterin, Mihai Alisie, Gavid Wood, Charles Hoskinson and Anthony Di Iorio with a Lifetime Achievement Award. This event marked 10 years of Ethereum’s global contributions and for igniting a flourishing, world leading blockchain ecosystem, celebrated by Swiss authorities, the Canton, and the City of Zug. In her address, Karin Keller-Sutter, Vice President of the Federal Council and Finance Minister, shared a powerful message, welcoming founders to Switzerland, she said: "You are in the right place at the right time. Blockchain technology is at a critical juncture, and so is the ecosystem here. Will blockchain be the core infrastructure of the future financial system, and will Switzerland be at the heart of it?" She emphasised Switzerland’s role in fostering innovation, adding, "As finance minister, I'm not only the guardian of the treasury, but also responsible for a stable, sound, and innovative financial market. In blockchain technology, we see a new technology that has immense potential to change how financial services are delivered and by whom." Keller-Sutter praised Switzerland’s approach to regulation: "Switzerland has always followed this approach: create excellent framework conditions, treat technologies equally—same risks, same rules—and adapt regulations quickly where necessary to enable innovation and address risks." She concluded by inspiring the blockchain community to continue driving progress: "Above all, it is up to you to fill in the frame, to create, test, succeed, or fail and try again." Mathias Ruch, CEO and Founder of CV VC, host of CV Summit, concluded “Over two days, each year for the past decade 1000 global and Swiss Web3 industry players, gather here at CV Summit to set the agenda, test out mindset and plan for driving innovation forward. It is an honour for us to celebrate Ethereum’s co-founders for their visionary work and the pivotal role they play in building a technology ecosystem with global impact, from the heart of Crypto Valley. The founders’ contributions have set the foundation for a flourishing sector that continues to position Switzerland as a world leader in blockchain innovation.” The event was attended by former Swiss presidents, Ueli Maurer and Joahann Schneider Amman, Andre Wicki - Mayor, City of Zug and Heinz Tännler - Finance Director of the Canton Zug and President Swiss Blockchain Federation. Karin Keller-Sutter, Vice President of the Federal Council and Finance Minister, "You are in the right place at the right time.” Vitalik Buterein, Co - Founder of Ethereum - “Thank you very much for the kind award. I really appreciate everything that you guys have done in Zug, to create this environment that has made it possible for Ethereum to be born and to grow.” Gavin Wood, Co - Founder of Ethereum - “It's gratifying to see projects which are really trying to push the boundaries in this sort of socio technological political space, thank you very much for your continuing support.” Charles Hoskinson, Co - Founder of Ethereum - "Thank you to Switzerland for taking a chance on us." Photo Gallery for downloads: https://www.picdrop.com/cvlabsag/3nGUE8vVPu For further information: Triona@ignitecomms.com ENDS.Triona McHale CV Summit +353 87-2651473 email us here Legal Disclaimer: EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.

 2024-10-03 11:11:55

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Tesla Billionaire Elon Musk Issues $35 Trillion U.S. ‘Bankruptcy’ Warning—Predicted To Trigger A Bitcoin Price Boom

Share to Facebook Share to Twitter Share to Linkedin Bitcoin Bitcoin and crypto prices have crashed this week after BlackRock's chief executive a "crazy" Federal Reserve warning. The bitcoin price has dropped to almost $60,000 per bitcoin, wiping away much of the gains it made following China's bombshell. Now, after Elon Musk revealed the details of his secret meeting with El Salvador's bitcoin-backing president Nayib Bukele, the Tesla billionaire has warned the U.S. heading for bankruptcy after U.S. debt jumped $204 billion in one day. Sign up now for the free CryptoCodex—A daily five-minute newsletter for traders, investors and the crypto-curious that will get you up to date and keep you ahead of the bitcoin and crypto market bull run ForbesDonald Trump’s ‘Crucial’ China Nightmare Is Suddenly Coming TrueBy Billy Bambrough MORE FOR YOU Today’s NYT Mini Crossword Clues And Answers For Thursday, October 3 NYT ‘Strands’ Today: Hints, Spangram And Answers For Thursday, October 3rd Federal Judge Halts California’s New Anti-Deepfakes Law—Musk Says Its ‘Score One’ For Free Speech Tesla billionaire Elon Musk has warned the U.S.'s could collapse into "bankruptcy" due to its debt ... [+] spiraling out of control—something some think could turbo-charge the bitcoin price. Copyright 2020 The Associated Press. All rights reserved. "America is headed for bankruptcy," Musk posted to X, the social media platform he bought and rebranded from Twitter, linking to a report of U.S. debt surging on October 1. "Federal debt explodes on 1st day of the new fiscal year, jumping $204 billion to new record of $35.669 trillion, but it gets worse: Treasury also had to draw down its cash balance by $72 billion—that's over $275 billion in the red for just one day," EJ Antoni, an economist with the conservative Heritage Foundation, posted. Last month, Musk met with El Salvador's bitcoin-backing president Nayib Bukele, who made history when he adopted bitcoin as legal tender in El Salvador in 2021, with Bukele predicting the U.S.'s days could be numbered. U.S. debt interest payments are forecast to hit $870 billion this year, according to an analysis by the Congressional Budget Office earlier this year after runaway inflation pushed the Federal Reserve to hike interest rates at a never-before-seen clip in the aftermath of huge Covid-era spending and money-printing. U.S. national debt has skyrocketed in recent years, crossing the $34 trillion mark at the beginning of 2024, largely due to Covid and lockdown stimulus measures. Earlier this year, Bank of America analysts warned the U.S. debt load is about to ramp up to add $1 trillion every 100 days—potentially fueling a bitcoin price surge—and could reach $36 trillion by the end of 2024. Last month, the Fed kicked off its interest rate cutting cycle, taking the market somewhat by surprise with a 50 basis point reduction and fueling expectations of a similar sized cut in November—described as "crazy" by BlackRock's chief executive. Sign up now for CryptoCodex—A free, daily newsletter for the crypto-curious Forbes‘Strap In’—Serious $40,000 Bitcoin Price Crash Warning Issued As The Fed Suddenly Braces For A U.S. Dollar ‘Crisis’ That’s Predicted To Spark ‘Total Collapse’By Billy Bambrough The bitcoin price has dropped back from its all-time high reached earlier this year as Tesla ... [+] billionaire Elon Musk and others warn over the huge U.S. debt pile and fears swirl of U.S. dollar collapse. Forbes Digital Assets Bitcoin price swings this week come as tensions rise in the Middle East between Israel and its neighbors, with fears growing the regional conflict could spiral to a wider war—highlighting bitcoin's role as a U.S. dollar and debt hedge. "Observers of bitcoin prices this week would once again note that it is not a safe haven against geopolitical concerns," Geoff Kendrick, head of crypto research at Standard Chartered Bank, wrote in an emailed note. "I think this is normal. Gold is a geopolitical hedge. bitcoin is a hedge against [traditional finance] issues such as bank collapses ... or de-dollarisation/U.S. Treasury sustainability issues." Follow me on Twitter. Billy Bambrough Following Editorial Standards Forbes Accolades

 2024-10-03 10:15:06

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Ultrapro Exchange Announces the Final 6 days for the 25 USDT Bonanza Offer

Ultrapro Exchange Announces the Final 6 days for the 25 USDT Bonanza Offer DUBAI, DUBAI, UNITED ARAB EMIRATES, October 3, 2024 /EINPresswire.com/ -- Ultrapro Exchange is currently running a limited-time 25 USDT bonanza, with only 6 days remaining for participants to take advantage of this exciting opportunity. Understanding the details of this offer is crucial for crypto enthusiasts aiming to maximize their engagement and potential rewards on the platform. Understanding the 25 USDT Bonanza The 25 USDT bonanza is designed to encourage participation and reward users for their engagement on the Ultrapro Exchange platform. This offer allows registered users to receive 25 USDT, which can be used for trading various cryptocurrencies, making it an attractive proposition for both new and seasoned traders. Why This Offer Matters Incentivizing New Users: This bonanza serves as an incentive for individuals who are new to cryptocurrency trading. By lowering the entry barrier, it encourages newcomers to explore the world of digital assets without significant financial commitment. Promoting Active Participation: The bonanza is not just a giveaway; it requires users to engage actively on the platform. Completing certain tasks or trading activities to qualify for the USDT can help foster a more interactive community of traders who share knowledge and strategies. Building Community Trust: Initiatives like the 25 USDT bonanza can help build trust within the community. As users see real rewards for their participation, they are more likely to engage further, contributing to a vibrant trading environment. This is particularly important in the cryptocurrency sector, where trust and transparency are paramount. What to Know Before Participating With the deadline approaching rapidly, it's crucial for users to familiarize themselves with the rules and requirements associated with the bonanza: Registration Process: Interested participants must complete the registration process on the Ultrapro Exchange. This includes setting up an account and completing any necessary verification steps, such as KYC (Know Your Customer). Eligibility Criteria: To qualify for the bonanza, users may need to complete specific tasks, such as trading a certain volume of cryptocurrencies or referring friends to the platform. Understanding these criteria is vital to ensure you don't miss out on the opportunity. Withdrawal Conditions: While receiving 25 USDT is an exciting prospect, participants should also be aware of any withdrawal conditions or limitations associated with the bonanza. It's important to read the terms and conditions to fully understand how and when the rewards can be accessed. The Importance of Timing With only 6 days left in the promotional period, timing is critical. Potential participants should act swiftly to ensure they meet the eligibility criteria before the offer ends. This countdown serves as a reminder that opportunities in the fast-paced world of cryptocurrency are often fleeting, and prompt action can lead to significant rewards. Final Words: As the Ultrapro Exchange's 25 USDT bonanza draws to a close, it presents a unique chance for both newcomers and seasoned traders to engage with the platform and explore the diverse opportunities within the cryptocurrency space. By understanding the intricacies of the offer and acting quickly, participants can enhance their trading experience and potentially unlock new avenues for financial growth.Mr. Nagarajan Narayanasamy Ultrapro Blockchain email us here Visit us on social media: Facebook X LinkedIn Instagram YouTube Other Legal Disclaimer: EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.

 2024-10-03 09:30:56

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Ethereum price forecast: Why ETH Whales are going nuts for this other coin under $0.10

The cryptocurrency landscape continues to change, and amid this development, Ethereum (ETH) remains one of the dominant platforms with significant growth prospects. Owing to the recent ETH price changes and its great community support, many investors are predicting its developments and state the price will reach $4000 by the year 2025.The hype isn’t only about Ethereum staying one step ahead of its competitor, Rexas Finance (RXS) is catching the attention of ETH whales. This paper seeks to explain why Rexas is getting increasing interest, especially when it has not grown over the $0.10 range, and how it considers itself a worthy investment with Ethereum. Ethereum’s growth trajectory Several factors affect the ongoing price development of Ethereum such as the growing disenchanted financial (DeFi) niches and theizing Ethereum 2.0. The more projects that carry out their activities on the Ethereum blockchain, so is the demand for ETH which is likely to lift the price to the projected $4,000 level. The rise of Rexas Finance (RXS) Despite Ethereum’s advantages, investors are now looking for more juicy ventures that require a start-up cost that is not high. Currently trading at less than $0.10, Rexas Finance (RXS) is seeking to venture into a relatively new aspect of DeFI which is real estate tokenization.This unique method enables investors to participate in real estate investment without incurring the cost that is usually associated with assets like these. Therefore, ETH whales are grabbing the limelight by expanding their investment in Rexas besides holding Ethereum. Investment potential of Rexas Finance It is not only the technological innovation that differentiates Rexas Finance (RXS), the prospects for growth are equally appealing. Investors see an opportunity to buy an attractive asset at a presale price which is currently at $0.05 against the expected listings of $0.20 Several experts foretell that Rexas Finance (RXS) may witness an astonishing spike of 2,500% within a time frame of six months. The prospect of such large profits makes Rexas an excellent investment opportunity for those aiming for maximum returns during the rise of the Ethereum price. Community and market interest The community supporting Rexas Finance (RXS) is growing tremendously and people talk about it on social and crypto platforms and forums showing its potential. ETH whales do not only look for gains immediately, they are looking for the growth of this market in the long-term horizons.With Rexas Finance (RXS) in the mix, it is a wager on the future where real estate will be heavily dominated through tokenization, and the property investment sectors are bound to shift. This is quite a revolutionary trend that coincides well with the the-based ideology of Ethereum, and thus Rexas Finance (RXS) issue in their inclusion as the asset. Diversification strategies for investors With Ethereum inching closer to the $4,000 mark, its players are fully aware of the changing nature of cryptocurrencies. They have come to the understanding that investing in assets from different sources will reduce their risks and improve their returns. Hence, by including Rexas in their holdings, ETH whales are in a position to maximize the growth of both Ethereum and the new real estate tokenization market. The upcoming bull run and market dynamics Additionally, with a predicted listing price of $0.20, it is worth buying Rexas before the October 2024 bull run. As ETH whales are already targeting this low-cost option, Rexas could be fueled with the necessary factors leading to explosive growth thereby strengthening its position in the cryptocurrency space. Conclusion It seems that not only are the predictions of ETH reaching $4000 promising but Rexas Finance (RXS) also poses a good investment opportunity below 0.10. The increase of interest from the ETH whales is likely to shift some focus towards emerging cryptocurrencies with significant returns.In shaping the future of money, both Ethereum and Rexas Finance (RXS) will attract the attention of investors. The investors need to turn their heads, as there is certainly the next big advancement in the crypto-currency space, and how benefits of investment in cryptocurrencies will be up for an exciting variation in the coming months. For more information about Rexas Finance (RXS) visit the links below: Website: https://rexas.com Win $1 Million Giveaway: https://bit.ly/Rexas1M Whitepaper: https://rexas.com/rexas-whitepaper.pdf Twitter/X: https://x.com/rexasfinance Telegram: https://t.me/rexasfinance DISCLAIMER – “Views Expressed Disclaimer: Views and opinions expressed are those of the authors and do not reflect the official position of any other author, agency, organization, employer or company, including NEO CYMED PUBLISHING LIMITED, which is the publishing company performing under the name Cyprus-Mail…more

 2024-10-03 08:55:34

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Nigeria’s FX crisis fuels crypto usage as transactions hit $59bn

Cryptocurrency usage continues to rise in Nigeria, driven by a weakening currency and soaring inflation, according to a report by New York-based blockchain research firm Chainalysis. The report, released Wednesday, revealed that Africa’s most populous country ranked second on the firm’s Global Adoption Index and received approximately $59 billion in cryptocurrency value between July 2023 and June 2024, a 4.06 per cent increase from the $56.7 billion recorded during the same period of 2023. Like many African nations, Nigeria faces a foreign exchange crisis, spurring crypto adoption. “About 70 percent of African countries are facing an FX shortage, and businesses are struggling to get access to the dollars they need to operate,” Chris Maurice, CEO and Co-Founder of Yellow Card said. The report highlighted that with banks running out of dollars, many Nigerians are turning to stablecoins. “The banks don’t have dollars, the government doesn’t have dollars, and even if they did, they wouldn’t give them to you,” Maurice added. Across Sub-Saharan Africa, crypto transactions totalled $125 billion during the same period. Chainalysis pointed out that Africans are using cryptocurrency for business payments, as a hedge against inflation, and for frequent, smaller retail-sized transfers. In Nigeria, crypto activity is largely driven by smaller, retail, and professional-sized transactions, with around 85 per cent of the value of transfers under $1 million. Moyo Sodipo, chief operating officer and co-founder of Busha noted, “People are starting to see the real-world utility of cryptocurrency, especially in day-to-day transactions, which is a shift from the earlier view of crypto as just a get-rich-quick scheme.” Stablecoins are a major part of Nigeria’s crypto economy, accounting for approximately 40 per cent of all stablecoin inflows in the region. Nigerians are increasingly relying on stablecoins to send money across borders due to the inefficiencies and high costs associated with traditional remittance channels. “Cross-border remittances are a major use case for stablecoins in Nigeria,” Sodipo noted. “It’s much faster and more affordable.” This surge in cryptocurrency activity comes despite the Nigerian government’s crackdown on crypto transactions in 2024, even after the Central Bank of Nigeria (CBN) lifted restrictions on digital currency usage in 2023. Using Binance as a scapegoat, the country asked telecommunication firms to restrict access to crypto platforms and directed operators to delist naira transactions. The government accused these platforms of encouraging the manipulation of the naira to dollar rates and aiding illicit flows. Despite these, crypto adoption has refused to wane, with peer-to-peer transactions playing a role in sustaining its growth. However, the government’s stance on cryptocurrency appears to be evolving because of the industry’s continued growth. Zacch Adedeji, chairman of the Federal Inland Revenue Service (FIRS), recently said, “We cannot run away from the cryptocurrency ecosystem because it is the in-thing. But as it stands in Nigeria today, there is no law that regulates cryptocurrency operations. We need a law that regulates that area of our economy.” In a positive step towards regulatory clarity, the Securities Exchange Commission has also begun approving principles for crypto operators. “The industry is bullish on Accelerated Regulation Incubation Program (one of SEC’s regulatory frameworks); it’s a shift away from uncertainty and a positive move towards regulatory clarity,” added Sodipo of Busha.

 2024-10-03 08:17:19

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Top Crypto ICO To Invest In: How ETFSwap (ETFS) Can Help You Maximize Profits From Spot Bitcoin ETFs

As the crypto market evolves, Spot Bitcoin ETFs are gaining traction, presenting lucrative opportunities for savvy investors. One standout player in this arena is ETFSwap (ETFS), a promising ICO poised to help investors leverage this growing trend. ETFSwap (ETFS) ICO: The Top ICO For Spot Bitcoin ETF Investors As the third and final round of the ICO intensifies, well-known cryptocurrency investors are switching to the ETFSwap (ETFS) ICO because they think it offers superior utilities that will allow them to maximize their profits from Spot Bitcoin ETFs. These crypto investors have jumped on the opportunity and put a lot of money into the ongoing initial coin offering (ICO). The price of a token is $0.03846, and there’s a 50% bonus on every acquisition, with the phase concluding in a few days. Maximize Spot Bitcoin ETF Gains With ETFSwap (ETFS) The cutting-edge DeFi platform ETFSwap (ETFS) connects traditional finance and DeFi through tokenized ETF trading. Spot Bitcoin ETFs trade well on ETFSwap (ETFS) due to its greater tokenization goal and ecosystem which offers a powerful Spot Bitcoin ETF exchange. The Ethereum-based platform tokenizes a wide variety of assets, including commodities, Spot ETFs, and fixed-income securities. Tokenization boosts Spot Bitcoin ETFs’ trading and portfolio diversification possibilities which enables crypto investors maximize on their potential. ETFSwap (ETFS) also allows market-making and unlimited trading with no time constraints and asset exchange in the crypto landscape. This technology facilitates trading methods and results while giving traders more control over their Spot Bitcoin ETFs. Additionally, the Spot Bitcoin ETF market is stimulated by the Ethereum network and ETFS token, which further advance security and liquidity while enhancing trader confidence. Furthermore, the ETFSwap (ETFS) is dynamic, adapting to trader demands and input. This is because the platform gives holders of ETFS tokens a voice in ecosystem choices, giving cryptocurrency traders a sense of control and ownership. The DeFi platform also makes use of blockchain technology, which enables trustless transactions alongside decentralized governance to make trading efficient, secure, and transparent. In addition, CyberScope has audited ETFSwap’s (ETFS) smart contracts, guaranteeing that traders of Spot Bitcoin ETFs can use the platform to its full potential and profit. Before its launch, ETFSwap (ETFS) diligently secured the rights necessary to run this revolutionary DeFi platform. Once the KYC verification procedure was successfully completed, SOLIDProof issued a compliance certificate to the ETFSwap (ETFS) team, which increased the utilization of ETFSwap (ETFS). As a result, investors have been drawn to its ICO in order to trade Spot Bitcoin ETFs and confidently manage their holdings, maximizing their potential. After extensive user interface testing, the Phase 1 beta platform’s elegant backend will soon be made public. Investors will soon have access to this DeFi platform to take part in different staking strategies and liquidity pools for commodities such as Spot Bitcoin ETFs. Phase 2 will see the release of an AI-powered ETF screener on the ETFSwap (ETFS) platform. These technologies deliver accurate financial advice by utilizing sentiment analysis, prediction algorithms, and big data. Artificial intelligence (AI) can handle and analyze huge volumes of data, recognize patterns, and create accurate forecasts to keep investors informed, making it easier to trade and maximize on Spot Bitcoin ETFs. Furthermore, ETFSwap (ETFS) works with MiCa-compliant licensed investment banks to easily integrate blockchain technology with ETFs, ensuring that tokenized assets are backed by traditional financial market instruments. Conclusion With ETFSwap (ETFS) and crypto ETFs becoming more popular, DeFi could make financial goods easier to access. Investors are looking for safe platforms due to the large increase in Spot Bitcoin ETF inflows in recent months. To fully benefit from the unique features that make trading these assets easier, investors are opting to use ETFSwap (ETFS). Investors can maximize Spot Bitcoin ETF potential. With nearly 13 million ETFS tokens sold in a few days at $0.03846 during the current ICO, it’s clear that cryptocurrency investors are already interested in the potential of ETFSwap (ETFS). Investors are hurrying to buy tokens before the current ICO finishes to maximize earnings Spot Bitcoin ETFs and prospects of an early sell out. For more information about the ETFS Presale: Visit ETFSwap Presale

 2024-10-03 08:03:05

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DMCC Partners with CV VC to Accelerate Web3 Ecosystem Growth

DMCC and CV VC sign collaboration agreement to pioneer regional Web3 ecosystem growth • Agreement signed during CV Summit, Switzerland’s premier Web3 and blockchain event, which gathered thousands of entrepreneurs and industry leaders in Zug, Switzerland • DMCC and CV VC will bridge two of the world’s most vibrant blockchain ecosystems, providing cross-border ecosystem development through joint educational drives, events and workspace exchanges DMCC – the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise – and CV VC, one of Switzerland’s leading early-stage blockchain venture capital firms, have entered into a new strategic collaboration to connect and mutually support the Web3 ecosystems in Dubai and Switzerland. The agreement was signed during the annual CV Summit 2024, Switzerland’s premier blockchain and Web3 event, which gathered thousands of industry leaders and entrepreneurs in Zug, Switzerland this week. The collaboration agreement between DMCC Crypto Centre and CV VC, one of the founder’s of the Swiss Crypto Valley and which operates the international blockchain ecosystem builder CV Labs, marks a significant step in bolstering ties between two of the world’s most significant Web3 ecosystems. Together both sides aim to accelerate Web3 entrepreneurship between Dubai and Switzerland to create the next vibrant innovation corridor. As a strategic regional alliance, DMCC’s and CV VC’s ecosystems will be scaled up through mutual and cross-border collaboration, including educational initiatives such as workshops and seminars, the exchange of resources and workspaces, and joint events including the Web3 Hub during the World Economic Forum in Davos, Switzerland, in January 2025. CV VC will also partner in the upcoming DMCC-Bybit Hackathon, underscoring a shared commitment to foster and drive blockchain technology innovation in the region. Feryal Ahmadi, Chief Operating Officer, DMCC, said: "We are delighted to announce this latest strategic alliance between CV VC and DMCC Crypto Centre, which will not only provide our members with a range of unique benefits but scale up Web3 innovation between Dubai and Switzerland. We recognise the immense value that greater collaboration, knowledge exchange, and resource-sharing can bring to unlocking the potential of Web3. By connecting our ecosystems, we can drive the next phase of global Web3 adoption and pave the way for a more interconnected and innovative future for businesses worldwide.” Mathias Ruch, Founder & CEO, CV VC, said: “This alliance is an opportunity to exchange knowledge and resources, supporting the growth of the blockchain space in both the Middle East and Switzerland.” Olaf Hannemann, Co-Founder & CIO of CV VC, added: “From an investment perspective, we feel the Middle Eastern Ecosystem has significantly matured over the last few years, driven by a long-term vision and a deeply rooted motivation to invest in future technologies”. With over 600 members, the DMCC Crypto Centre is a comprehensive ecosystem for companies that develop Web3 and blockchain technologies and associated value-added services. Providing everything that crypto businesses and entrepreneurs need to set up and scale their operations, it has become the largest concentration of crypto and Web3 firms in the region. CV VC is an early-stage venture capital firm based in Switzerland, focusing primarily on global start-ups that offer solutions using blockchain technologies. As a founder of the Swiss Crypto Valley, CV VC has the essential resources and network to identify, incubate and accelerate the journey of blockchain start-ups. Email Facebook Twitter Linkedin Linkedin Linkedin

 2024-10-03 07:33:50

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YouthMeta seeks to leverage Japan's crypto enthusiasm

South Korea-based crypto data aggregator YouthMeta is seeking a bigger footing in Japan, a country which has been showing a stronger interest in the investment tool recently, according to the company. YouthMeta provides a cryptocurrency price prediction service through its Goya Premium Chart, suggesting the best time to buy and sell more than 200 crypto assets listed on Binance. With the company having over 30,000 users across 27 countries, Japan stands out as a particularly vibrant market with surging interest in cryptocurrency, it explained. In March, the Government Pension Investment Fund of Japan, the world's largest pension fund by assets under management, said it is exploring the potential of bitcoin as part of its investment portfolio. “The growth (of interest in bitcoin) in Japan is substantial. Seminars are consistently full of enthusiastic participants. Many have formed small groups to communicate and share strategies, fostering a community that motivates each other,” an official from YouthMeta's Japanese unit said. After a well-received debut in the Japanese market, YouthMeta further plans to strengthen its presence in other countries such as Indonesia and Vietnam, which are rapidly embracing cryptocurrency, according to the company. Furthermore, YouthMeta has recently updated features that allow users to identify suitable coins to trade. The company highlighted it can ensure accurate and relevant information for Goya Premium Chart subscribers through continuous enhancements on its technology. "These enhancements streamline the trading process, allowing users to make smarter, data-driven decisions," it said. The company touts its Goya Premium Chart to be useful in times of escalated market volatility. "By providing AI-based insights on optimal trading timings, the Goya chart assists investors in identifying stable buying and selling points. This support is particularly crucial in times of high market volatility, which could lead to substantial losses for traders," it explained.

 2024-10-03 06:32:52

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How did thieves get into my Binance app... and why won't it pay me back £11k of stolen crypto? CRANE ON THE CASE

Home News Royals U.S. Sport TV Showbiz Femail Health Science Money Travel Podcasts Shopping Best Buys Discounts My Profile Logout Login Money Home Business Saving & banking Investing Cost of living & bills Cars Cards & loans Pensions Mortgages Buy-to-let My Profile Logout Login Privacy Policy Feedback Thursday, Oct 3rd 2024 10AM 8°C 1PM 10°C 5-Day Forecast Advertisement How did thieves get into my Binance app... and why won't it pay me back £11k of stolen crypto? CRANE ON THE CASE Reader thought he had good security, so how did the thief bypass it? By Crane on the Case Updated:06:00 BST, 3 October 2024 e-mail 11 View comments In July, I had my phone snatched while waiting for a taxi in central London at around 1am. A man on foot grabbed it and sprinted off. The phone was unlocked when he took it, because I was tracking the taxi. Once I got home, I was able to lock the phone remotely at 2:17am using the 'find my iPhone' app on my wife's phone. When I logged into my emails on my iPad, I saw that the thief had got into my Binance cryptocurrency account and transferred out 5.16 ethereum at 1:43am. This was worth approximately $15,000 or £11,300. Snatched: Our reader had his mobile phone stolen while waiting for a taxi in London I don't understand how anyone was able to get into it. My phone and Binance app were both protected by a password and Face ID, and the Binance account required me to use Google Authenticator for verification, as well as entering a passkey I set to transfer anything out of the app. I've complained to Binance, but it says it can't recover my money and therefore won't reimburse. N.C, London RELATED ARTICLES Previous 1 Next How is YOUR bank protecting you from rising tide of AI voice...Scam victim payouts watered down from proposed £415,000...EXPOSED: How AI chatbots are being used to teach crooks how...O2 is chasing my 86-year-old dad for £169 debt after he was... Share this article Share Helen Crane of This is Money replies: The phone snatchers terrorising the streets show no signs of giving up, and I am sorry to hear you have been a victim. Binance is a cryptocurrency trading platform, where investors can buy and sell coins or tokens and track the value of their holdings. The ethereum coins stolen from you were transferred out of your Binance 'wallet' to an account held by the thief on a different trading platform. The thieves also stole £13,000 from your bank account with Revolut. However, that money was returned to you. It has left you wondering why one financial institution would agree to reimburse you, and another would not. You are also concerned about how the thieves got into your Binance account, which you thought was a digital Fort Knox. CRANE ON THE CASE Our weekly column sees This is Money consumer expert Helen Crane tackle reader problems and shine the light on companies doing both good and bad. Want her to investigate a problem, or do you want to praise a firm for going that extra mile? Get in touch: helen.crane@thisismoney.co.uk When you first got in touch with Binance, it said that there was nothing it could do because, while you had reported the theft to police, a named officer had not been assigned to the case. However, an officer from the City of London police was later assigned - and still, Binance did nothing. You were ultimately told that, once crypto leaves the Binance platform, there is nothing Binance can do to recover it. That is true, but in many cases where scam or theft victims get their money back from a bank - or another financial service like Binance - the cash itself is never actually recovered. Banks often decide to pay back the victim anyway, unless they have been negligent by for example giving away their Pin number. And other cryptocurrency platforms have avenues to get reimbursed too, including Coinbase's account guarantee pilot which I covered in a previous column and which provides one-off protection of up to £150,000 for its customers. The issue with all of this is that none of it is enshrined in law. If your money is stolen, it is still ultimately up to the bank or platform to decide whether you'll get it back. Big changes are coming next week - but only for banks, and only for certain types of theft. The Payment Systems Regulator has new rules which force banks to refund customers up to £85,000 if they fall for an authorised push payment (APP) scam, which is where they are tricked in to transferring money to a criminal. Into the ether: The cryptocurrency - worth more than £11,000 - was transferred out of N.C's Binance 'wallet' to an account held by the thief on a different trading platform As your money was held in an investment account, and this was not an APP scam, the new rules don't apply. Nonetheless, I got in touch with Binance to ask whether it would reconsider. Unfortunately, it decided to stand firm. It told me that it will only reimburse customers in cases where Binance itself is found to be at fault for the loss. A spokesman said: 'If Binance is notified about a stolen device, we take immediate steps to protect the associated account and restrict further activity until it is secured. 'Unfortunately, it appears that the attacker acted quickly on this occasion and before our user was able to contact us.' In better news, it did tell me that it had gathered some information about the transaction which could potentially help identify the person that took your phone, and that it is willing to share this with police. Binance also addressed your question about how the thief had managed to access your account, despite you having Face ID and two-factor authentication activated, and setting a passkey for Binance. It confirmed that the thief entered your passkey when the Ethereum was transferred. The spokesman said: 'The attacker may have been able to pass security if they had obtained the passcode, were able to guess the passcode on the device, or had observed the victim entering the passcode prior to stealing the phone.' You admitted that your phone passcode was the same as your Binance passkey, but you think it is unlikely the thief saw you enter it when they stole the phone, as it all happened so fast. Another possibility is that the thief saw the passcode earlier in the evening. I have heard reports of thieves hanging around bars and waiting until they see someone open their phone, for example to buy a drink, and then noting down the passcode and targeting them for the phone later. Refusal: The crypto platform said it will only reimburse fraud victims in cases where Binance itself is found to be at fault for the loss It is something This is Money columnist Dave Fishwick observed, when he spent time with the City of London police chasing down the mobile-stealing criminals. It is a good idea not to have the same password for your phone, as well as your money apps - as this leaves you exposed. As for Face ID, Apple allows users to use the passcode for the phone as a 'fall back' option when the face isn't recognised - in most circumstances. Users can stop this happening by opting in to a new feature called stolen device protection, which Apple introduced in March. I would really recommend that every iPhone user activates this - it can be found under 'Settings' and then 'Face ID and passcode'. Read More Bank of Dave on what you MUST do to keep your phone safe - as he goes 'catching baddies' with London police It means that when the phone is in an unfamiliar location (not the owner's home or work) their credit cards can only be accessed using Face ID or Touch ID, and the user won't be able to enter a password as a 'fall back' option. An hour delay is also placed on certain actions such as changing the phone's password, to give them time to report it as stolen. Binance said: 'As this is a device security failure, which is not the fault of Binance, we are unfortunately not able to offer reimbursement.' It also recommended that users enable a feature called 'IP and wallet address whitelisting'. This allows them to set a list of accounts which their crypto can be sent to - and if there is an attempt to send it elsewhere, it won't work. I do think it is a little disappointing that you are being penalised for Apple's security shortcomings. While Binance is entitled to make its own rules on reimbursements, it has been less generous than most banks - and even some other crypto platforms - would be in the same circumstances. You told me you continue to work with the police to find the culprit, which is admirable. Catching those responsible is the best way to cut the number of phones being nicked. But there are also things we can do to protect ourselves - and I hope others can learn from your experience. If you haven't yet beefed up the security on your bank accounts and crypto wallets, this is your signal to do so. CRANE ON THE CASE I'm still paying Amex fees for a card I cancelled 17 YEARS ago Our pushchair was broken on a Ryanair flight - and I can't claim O2 is chasing my 86-year-old dad for £169 debt after he was scammed My Evri parcel went AWOL: Can I make the firm keep looking for it? My mother-in-law's debit card was stolen and thieves took out cash NCP charged me £300 for losing my car park ticket Share or comment on this article: How did thieves get into my Binance app... and why won't it pay me back £11k of stolen crypto? CRANE ON THE CASE e-mail Add comment Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence. Toggle Search POPULAR MONEY SECTIONS Take me to… Best savings rates tables Find the best mortgage calculator Power Portfolio investment tracker Stock market data and share prices This is Money's podcast This is Money's newsletter The best DIY investing platforms The best bank accounts The best cash Isas The best credit cards Save on energy bills Compare broadband and TV deals How to find cheaper car insurance Investing Show videos Financial calculators Search Enter search term Search Search within All articles Share prices Beat the scammers See all our help, advice and horror stories on the latest scams and frauds to avoid SAVE MONEY, MAKE MONEY Credit cards Best balance transfers, reward cards and more Life insurance See the lowest rates on the market Savings accounts Cash Isas, easy access, fixed rates and more Current accounts Earn interest and rewards on your money Best mortgages Expert advice on the right deal for you DIY investing Best and cheapest ways to invest in shares and funds Advertisement BEAT THE SCAMMERS Scams in 2024: Stay one step ahead and remember - you're always susceptible, says LEE BOYCE I lost £100k to 'safe account' scam... Tide admitted failings but will only pay me back half The five scams you've never heard of... but could get caught out by in 2024 The bible for scammers: Nigerian conman who fleeced fifty lonely women reveals his cruel tactics Warning over Booking.com scam where fraudsters pose as hotels on its official message system Scammers stole £370 of my Nectar points: How did it happen? Most scammed items on Facebook Marketplace revealed by fraud sleuths From Taylor Swift tickets to Uggs... major bank lists hot scam trends for 2024 I'm a retired businessman and fell for an online bitcoin scam... now I have to sell my house to pay back £30k VICTORY! Social media giants finally promise to crack down on scammers - after our Campaign Online Fraud Charter: Tech firms pledge to stop fraud under new government measures EXCLUSIVEMore than 100,000 car adverts on Facebook are SCAMS, warns Santander I was scammed of £16k in new Whatsapp job ruse: We reveal the recruitment scam that has arrived from the US... How fraudsters are stealing 'BILLIONS' using chip and pin hack... because banks refuse to admit the scam exists Households warned of increase in 'loan fee' fraud - how to spot warning signs How to spot a social media scam: The five warning signs you are their next target Rental fraud surges as students and young professional battle for homes - here's how to avoid falling victim Nearly a third of adults have been targeted by romance scams as number of cases soars Car scams surge 74% in the first six months thanks to fake ads - here's the motors most likely to be targeted Are your children at risk of being lured into a money mule scam? How criminals are targeting pupils as young as nine to launder cash in alarming numbers Advertisement DON'T MISS Why we invest in one of the world's most valuable drinks brands that you may never have heard of Ad Feature My seven step action plan to stop the Chancellor raiding your family's inheritance, by JEFF PRESTRIDGE Neighbour's tree is making our house dark - can I force them to prune it? DEAN DUNHAM replies The world has built resilience to another oil supply shock, says ALEX BRUMMER We own two homes and want to put them in separate names - will we pay capital gains tax? An affordable ski holiday? Experts pick four French resorts where good skiing meets great value Ad Feature Paul and Anne shared a home for 35 years but he was thrown out after she died I'm moving to a new area: Will I pay more tax if I don't sell my old house before buying a new one? Do you need financial planning or financial advice - and is it worth it? What is the VIX? How you can profit from stock market volatility with Wall Street's 'fear index' Universal Credit warning from police as DWP launch investigation into fake app I have £30,000 of investments that aren't in an Isa, how can I protect them from capital gains tax? Sponsored Can you afford a bigger home? Everything upsizers need to know Save £1,200 from your energy bills with the experts' ultimate guide: The new clever tricks and gadgets to winterproof your home revealed How to protect your finances before the Budget (and what to avoid): This is Money podcast ANSWERS FROM THE Experts Neighbour's tree is making our house dark - can I force them to prune it? DEAN DUNHAM replies My insurer won't cover flood damage after heavy rain - what can I do? DEAN DUNHAM replies Can I ignore my father's will if he is insisting that his dog is put down? Can I stop neighbour's teenage son kicking a ball against their fence? DEAN DUNHAM replies Nutshell gave me the lowest car insurance quote - who are they and should I trust it? A WW2 bomb boat sank near the house I bought in Kent - does insurance pay out if it blows up? Bid to land honour for timeshare claims boss beggars belief, says TONY HETHERINGTON Neighbour is having fibre broadband installed under my driveway. Can I stop it being dug up? DEAN DUNHAM replies TONY HETHERINGTON: Debt collectors Lowell back to haunt reader after four years Ball from the golf club next door broke my son's window. Who should pay? DEAN DUNHAM replies MORE HEADLINES Back to top Home News Royals U.S. Sport TV Showbiz Femail Health Science Money Travel Podcasts Shopping Sitemap Archive Video Archive Authors Topics Index Mobile Apps Screensaver RSS Text-based site Reader Prints Our Papers Top of page Daily Mail Mail on Sunday This is Money Metro Jobsite Mail Travel Published by Associated Newspapers Ltd Part of the Daily Mail, The Mail on Sunday & Metro Media Group dmg media Contact us How to complain Leadership Team Advertise with us Contributors Terms Subscription Terms & Conditions Do not sell or share my personal information About MailOnline Privacy Settings Privacy policy & cookies Advertisement Advertisement

 2024-10-03 05:00:49

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How did thieves get into my Binance app... and why won't it pay me back £11k of stolen crypto? CRANE ON THE CASE

Home News Royals U.S. Sport TV Showbiz Femail Health Science Money Travel Podcasts Shopping Best Buys Discounts My Profile Logout Login Money Home Business Saving & banking Investing Cost of living & bills Cars Cards & loans Pensions Mortgages Buy-to-let My Profile Logout Login Privacy Policy Feedback Thursday, Oct 3rd 2024 10AM 8°C 1PM 10°C 5-Day Forecast Advertisement How did thieves get into my Binance app... and why won't it pay me back £11k of stolen crypto? CRANE ON THE CASE Reader thought he had good security, so how did the thief bypass it? By Crane on the Case Updated:06:00 BST, 3 October 2024 e-mail 11 View comments In July, I had my phone snatched while waiting for a taxi in central London at around 1am. A man on foot grabbed it and sprinted off. The phone was unlocked when he took it, because I was tracking the taxi. Once I got home, I was able to lock the phone remotely at 2:17am using the 'find my iPhone' app on my wife's phone. When I logged into my emails on my iPad, I saw that the thief had got into my Binance cryptocurrency account and transferred out 5.16 ethereum at 1:43am. This was worth approximately $15,000 or £11,300. Snatched: Our reader had his mobile phone stolen while waiting for a taxi in London I don't understand how anyone was able to get into it. My phone and Binance app were both protected by a password and Face ID, and the Binance account required me to use Google Authenticator for verification, as well as entering a passkey I set to transfer anything out of the app. I've complained to Binance, but it says it can't recover my money and therefore won't reimburse. N.C, London RELATED ARTICLES Previous 1 Next How is YOUR bank protecting you from rising tide of AI voice...Scam victim payouts watered down from proposed £415,000...EXPOSED: How AI chatbots are being used to teach crooks how...O2 is chasing my 86-year-old dad for £169 debt after he was... Share this article Share Helen Crane of This is Money replies: The phone snatchers terrorising the streets show no signs of giving up, and I am sorry to hear you have been a victim. Binance is a cryptocurrency trading platform, where investors can buy and sell coins or tokens and track the value of their holdings. The ethereum coins stolen from you were transferred out of your Binance 'wallet' to an account held by the thief on a different trading platform. The thieves also stole £13,000 from your bank account with Revolut. However, that money was returned to you. It has left you wondering why one financial institution would agree to reimburse you, and another would not. You are also concerned about how the thieves got into your Binance account, which you thought was a digital Fort Knox. CRANE ON THE CASE Our weekly column sees This is Money consumer expert Helen Crane tackle reader problems and shine the light on companies doing both good and bad. Want her to investigate a problem, or do you want to praise a firm for going that extra mile? Get in touch: helen.crane@thisismoney.co.uk When you first got in touch with Binance, it said that there was nothing it could do because, while you had reported the theft to police, a named officer had not been assigned to the case. However, an officer from the City of London police was later assigned - and still, Binance did nothing. You were ultimately told that, once crypto leaves the Binance platform, there is nothing Binance can do to recover it. That is true, but in many cases where scam or theft victims get their money back from a bank - or another financial service like Binance - the cash itself is never actually recovered. Banks often decide to pay back the victim anyway, unless they have been negligent by for example giving away their Pin number. And other cryptocurrency platforms have avenues to get reimbursed too, including Coinbase's account guarantee pilot which I covered in a previous column and which provides one-off protection of up to £150,000 for its customers. The issue with all of this is that none of it is enshrined in law. If your money is stolen, it is still ultimately up to the bank or platform to decide whether you'll get it back. Big changes are coming next week - but only for banks, and only for certain types of theft. The Payment Systems Regulator has new rules which force banks to refund customers up to £85,000 if they fall for an authorised push payment (APP) scam, which is where they are tricked in to transferring money to a criminal. Into the ether: The cryptocurrency - worth more than £11,000 - was transferred out of N.C's Binance 'wallet' to an account held by the thief on a different trading platform As your money was held in an investment account, and this was not an APP scam, the new rules don't apply. Nonetheless, I got in touch with Binance to ask whether it would reconsider. Unfortunately, it decided to stand firm. It told me that it will only reimburse customers in cases where Binance itself is found to be at fault for the loss. A spokesman said: 'If Binance is notified about a stolen device, we take immediate steps to protect the associated account and restrict further activity until it is secured. 'Unfortunately, it appears that the attacker acted quickly on this occasion and before our user was able to contact us.' In better news, it did tell me that it had gathered some information about the transaction which could potentially help identify the person that took your phone, and that it is willing to share this with police. Binance also addressed your question about how the thief had managed to access your account, despite you having Face ID and two-factor authentication activated, and setting a passkey for Binance. It confirmed that the thief entered your passkey when the Ethereum was transferred. The spokesman said: 'The attacker may have been able to pass security if they had obtained the passcode, were able to guess the passcode on the device, or had observed the victim entering the passcode prior to stealing the phone.' You admitted that your phone passcode was the same as your Binance passkey, but you think it is unlikely the thief saw you enter it when they stole the phone, as it all happened so fast. Another possibility is that the thief saw the passcode earlier in the evening. I have heard reports of thieves hanging around bars and waiting until they see someone open their phone, for example to buy a drink, and then noting down the passcode and targeting them for the phone later. Refusal: The crypto platform said it will only reimburse fraud victims in cases where Binance itself is found to be at fault for the loss It is something This is Money columnist Dave Fishwick observed, when he spent time with the City of London police chasing down the mobile-stealing criminals. It is a good idea not to have the same password for your phone, as well as your money apps - as this leaves you exposed. As for Face ID, Apple allows users to use the passcode for the phone as a 'fall back' option when the face isn't recognised - in most circumstances. Users can stop this happening by opting in to a new feature called stolen device protection, which Apple introduced in March. I would really recommend that every iPhone user activates this - it can be found under 'Settings' and then 'Face ID and passcode'. Read More Bank of Dave on what you MUST do to keep your phone safe - as he goes 'catching baddies' with London police It means that when the phone is in an unfamiliar location (not the owner's home or work) their credit cards can only be accessed using Face ID or Touch ID, and the user won't be able to enter a password as a 'fall back' option. An hour delay is also placed on certain actions such as changing the phone's password, to give them time to report it as stolen. Binance said: 'As this is a device security failure, which is not the fault of Binance, we are unfortunately not able to offer reimbursement.' It also recommended that users enable a feature called 'IP and wallet address whitelisting'. This allows them to set a list of accounts which their crypto can be sent to - and if there is an attempt to send it elsewhere, it won't work. I do think it is a little disappointing that you are being penalised for Apple's security shortcomings. While Binance is entitled to make its own rules on reimbursements, it has been less generous than most banks - and even some other crypto platforms - would be in the same circumstances. You told me you continue to work with the police to find the culprit, which is admirable. Catching those responsible is the best way to cut the number of phones being nicked. But there are also things we can do to protect ourselves - and I hope others can learn from your experience. If you haven't yet beefed up the security on your bank accounts and crypto wallets, this is your signal to do so. CRANE ON THE CASE I'm still paying Amex fees for a card I cancelled 17 YEARS ago Our pushchair was broken on a Ryanair flight - and I can't claim O2 is chasing my 86-year-old dad for £169 debt after he was scammed My Evri parcel went AWOL: Can I make the firm keep looking for it? My mother-in-law's debit card was stolen and thieves took out cash NCP charged me £300 for losing my car park ticket Share or comment on this article: How did thieves get into my Binance app... and why won't it pay me back £11k of stolen crypto? CRANE ON THE CASE e-mail Add comment Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence. Toggle Search POPULAR MONEY SECTIONS Take me to… Best savings rates tables Find the best mortgage calculator Power Portfolio investment tracker Stock market data and share prices This is Money's podcast This is Money's newsletter The best DIY investing platforms The best bank accounts The best cash Isas The best credit cards Save on energy bills Compare broadband and TV deals How to find cheaper car insurance Investing Show videos Financial calculators Search Enter search term Search Search within All articles Share prices Beat the scammers See all our help, advice and horror stories on the latest scams and frauds to avoid SAVE MONEY, MAKE MONEY Credit cards Best balance transfers, reward cards and more Life insurance See the lowest rates on the market Savings accounts Cash Isas, easy access, fixed rates and more Current accounts Earn interest and rewards on your money Best mortgages Expert advice on the right deal for you DIY investing Best and cheapest ways to invest in shares and funds Advertisement BEAT THE SCAMMERS Scams in 2024: Stay one step ahead and remember - you're always susceptible, says LEE BOYCE I lost £100k to 'safe account' scam... Tide admitted failings but will only pay me back half The five scams you've never heard of... but could get caught out by in 2024 The bible for scammers: Nigerian conman who fleeced fifty lonely women reveals his cruel tactics Warning over Booking.com scam where fraudsters pose as hotels on its official message system Scammers stole £370 of my Nectar points: How did it happen? Most scammed items on Facebook Marketplace revealed by fraud sleuths From Taylor Swift tickets to Uggs... major bank lists hot scam trends for 2024 I'm a retired businessman and fell for an online bitcoin scam... now I have to sell my house to pay back £30k VICTORY! Social media giants finally promise to crack down on scammers - after our Campaign Online Fraud Charter: Tech firms pledge to stop fraud under new government measures EXCLUSIVEMore than 100,000 car adverts on Facebook are SCAMS, warns Santander I was scammed of £16k in new Whatsapp job ruse: We reveal the recruitment scam that has arrived from the US... How fraudsters are stealing 'BILLIONS' using chip and pin hack... because banks refuse to admit the scam exists Households warned of increase in 'loan fee' fraud - how to spot warning signs How to spot a social media scam: The five warning signs you are their next target Rental fraud surges as students and young professional battle for homes - here's how to avoid falling victim Nearly a third of adults have been targeted by romance scams as number of cases soars Car scams surge 74% in the first six months thanks to fake ads - here's the motors most likely to be targeted Are your children at risk of being lured into a money mule scam? How criminals are targeting pupils as young as nine to launder cash in alarming numbers Advertisement DON'T MISS Why we invest in one of the world's most valuable drinks brands that you may never have heard of Ad Feature My seven step action plan to stop the Chancellor raiding your family's inheritance, by JEFF PRESTRIDGE Neighbour's tree is making our house dark - can I force them to prune it? DEAN DUNHAM replies The world has built resilience to another oil supply shock, says ALEX BRUMMER We own two homes and want to put them in separate names - will we pay capital gains tax? An affordable ski holiday? Experts pick four French resorts where good skiing meets great value Ad Feature Paul and Anne shared a home for 35 years but he was thrown out after she died I'm moving to a new area: Will I pay more tax if I don't sell my old house before buying a new one? Do you need financial planning or financial advice - and is it worth it? What is the VIX? How you can profit from stock market volatility with Wall Street's 'fear index' Universal Credit warning from police as DWP launch investigation into fake app I have £30,000 of investments that aren't in an Isa, how can I protect them from capital gains tax? Sponsored Can you afford a bigger home? Everything upsizers need to know Save £1,200 from your energy bills with the experts' ultimate guide: The new clever tricks and gadgets to winterproof your home revealed How to protect your finances before the Budget (and what to avoid): This is Money podcast ANSWERS FROM THE Experts Neighbour's tree is making our house dark - can I force them to prune it? DEAN DUNHAM replies My insurer won't cover flood damage after heavy rain - what can I do? DEAN DUNHAM replies Can I ignore my father's will if he is insisting that his dog is put down? Can I stop neighbour's teenage son kicking a ball against their fence? DEAN DUNHAM replies Nutshell gave me the lowest car insurance quote - who are they and should I trust it? A WW2 bomb boat sank near the house I bought in Kent - does insurance pay out if it blows up? Bid to land honour for timeshare claims boss beggars belief, says TONY HETHERINGTON Neighbour is having fibre broadband installed under my driveway. Can I stop it being dug up? DEAN DUNHAM replies TONY HETHERINGTON: Debt collectors Lowell back to haunt reader after four years Ball from the golf club next door broke my son's window. Who should pay? DEAN DUNHAM replies MORE HEADLINES Back to top Home News Royals U.S. Sport TV Showbiz Femail Health Science Money Travel Podcasts Shopping Sitemap Archive Video Archive Authors Topics Index Mobile Apps Screensaver RSS Text-based site Reader Prints Our Papers Top of page Daily Mail Mail on Sunday This is Money Metro Jobsite Mail Travel Published by Associated Newspapers Ltd Part of the Daily Mail, The Mail on Sunday & Metro Media Group dmg media Contact us How to complain Leadership Team Advertise with us Contributors Terms Subscription Terms & Conditions Do not sell or share my personal information About MailOnline Privacy Settings Privacy policy & cookies Advertisement Advertisement

 2024-10-03 05:00:49

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19 family members dupe Maharashtra brothers of Rs 1 crore in crypto scam

Police in Maharashtra have booked 19 members of the same family for allegedly duping two siblings of over Rs 1 crore in a cryptocurrency scam. The incident occurred in Thane district, where a man and his brother were lured into the scheme with promises of multi-fold returns on their investments.After realising they had been scammed, the 42-year-old victim lodged a complaint at Rabodi police station on Wednesday. The total value of the siblings' combined investment was Rs 1.17 crore.Accused promised 12 times return on investmentThe police have booked individuals identified as Sabir Yakub Ghachi (50), Shakir Yakub Ghachi (45), Ruhiha Shakir Ghachi (39), and several other family members. They are accused of convincing the victims to invest in the scheme by promising them returns of up to 12 times.In hopes of securing large gains, the siblings invested Rs 91.53 lakh and Rs 25.69 lakh starting in March 2022. However, the scam came to light after the accused failed to return the investments. According to the complaint, the victims received evasive responses and were issued threats. The accused also intimidated them by claiming they had connections with influential individuals.The victim then approached the police, an official said.A case has been registered under various sections of the Bharatiya Nyay Sanhita (BNS) and the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999, police said. No arrests have been made so far.For those unfamiliar, cryptocurrency is a digital currency secured by cryptography, operating on decentralised networks using blockchain technology. Bitcoin, created in 2009, is one of the most well-known cryptocurrencies in the world..storycontent div {margin:10px 0;}

 2024-10-03 04:44:30

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Top 10 Cryptocurrencies by Market Cap

by Vivek , 08 Aug, 2024

Top 10 CryptoCurrencies

Market capitalization, or market cap, is calculated by multiplying the current price of a cryptocurrency by the total number of coins or tokens that are in circulation.
As of August 2024, the top 10 cryptocurrencies by market cap represent a diverse array of digital assets, each with unique features and applications. Bitcoin (BTC) leads the market as the first and most valuable cryptocurrency, often regarded as digital gold. Ethereum (ETH) follows