Altcoins

The Doge community has warned about scam projects claiming to have links to Dogecoin and its Dogechain.info explorer. Mired by allegations of bans and monopoly, several Doge users are raising alarms and dissociating themselves from the new Dogechain token. Alerts Across the Doge Community A project dubbed “Dogechain” emerged in crypto circles some weeks ago. Dogechain claims to supply the Doge community with offerings such as non-fungible tokens and decentralized finance. According to the creators, the project achieves this by…

Tobias Adrian – Director of Monetary and Capital Markets for the IMF – thinks crypto may still have blood left to lose. He recently warned that crypto markets may continue to decline while more coin offerings, such as stablecoins, fail like Terra. No Stablecoin is Safe Speaking in an interview with Yahoo Finance published on Wednesday, Adrian said selloffs across both crypto and equities may continue. The dropoff would be even harder in the event of a recession. “There could…

Tether – the entity backing the world’s largest stablecoin – is once again firing back against those spreading doubt about its reserves. The company claimed that it holds no Chinese commercial paper, and will soon eliminate its commercial paper exposure altogether. Misinformation: Crypto’s Biggest Threat In an announcement on Wednesday, Tether stated that the crypto industry’s biggest current threat is the spreading of false information. The firm put it in the same league as hacks, scams, and cyberattacks, threatening the…

Binance – the world’s largest cryptocurrency exchange – recently announced the removal of almost 2 million BNB from circulation. That’s over $470 million worth of tokens that will never return to the market. As explained on Wednesday, exactly 1,959,595.29 BNB were removed in the 20th quarterly BNB token burn. At a current price of $224 each, that’s $478,141,250 in BNB that were burned. Of those tokens, 4,181.77 were burned as part of the Pioneer Burn program. The program decreases the…

Galaxy Digital CEO Mike Novogratz revealed that he hasn’t removed his LUNA tattoo following the Terra protocol’s demise and fallout. Speaking with Squawk Box on Thursday, the CEO said the tattoo makes for a “good reminder that you’re not always right.” Novogratz had a tattoo of a howling wolf with the world ‘LUNA’ above it emblazoned across his arm in January. Both LUNA and the TerraUSD stablecoin have since collapsed to worthlessness. Terra’s downfall had a contagious impact on the…

California resident Mark Young has filed a class-action lawsuit against big players in the Solana ecosystem and Multicoin Capital. Young filed the complaint in the US District Court for the Northern District of California in the past week. He claims several Solana parties illegally profited from the sale of Solana (SOL), the native token of the Solana blockchain. The filing names Solana Labs, the Solana Foundation, Solana co-founder Anatoly Yakovenko, crypto VC giant Multicoin Capital, Multicoin co-founder Kyle Samani, and…

In a Twitter post last night, the team behind the crypto-based social media platform, the Chingari App announced that they had not fallen victim to any hacks. Rumors of a rug pull or possible hack began after the Gari token lost more than 80% within 24 hours. Hacking Speculations Fuel Decline Last night, the short video platform moved quickly to assuage claims that its network had been hacked, attributing GARI’s sharp descent to a “market event”. Initially, the network’s native…

Anonymous – the infamous global hacking collective – recently posted a video message targeted at Terra ecosystem co-founder Do Kwon. The group promised to work with worldwide governments in exposing the founders’ entire criminal history since entering the industry. Terra’s Meltdown In Sunday’s message, Anonymous began by acknowledging the poor present state of the crypto market, and the broader economy. “We were likely going to experience some pain in the crypto industry because of the macro environment, regardless of what…

Devotees of the reactionary conspiracy theorist group, QAnon, have fallen victim to multiple crypto scams by influencers. According to reports, influencers PatriotQakes and Whiplash347 scammed thousands of investors by promoting fake cryptos on their Telegram channels. Logically, a tech fact-finding company, unearthed a massive fraudulent scheme run by QAnon thought leaders PatriotQakes and their partner. The duo had built Telegram communities of about 300,000 followers combined, named Whiplash347 and Quantum Stellar Initiative (QSI.) In these groups, the fraudsters allegedly promoted…