Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
Crypto Scam
Azuki Airdrop: Scammers Use Hijacked Verified Twitter Accounts to Steal NFTs
Scammers posing as Azuki creators are taking over verified Twitter handles to promote a fake NFT airdrop. Twitter accounts affected include those belonging to several journalists and media professionals. After hijacking an account, the scammer edits the profile text and images, disguising the handle as one belonging to a co-creator of Azuki. Afterward, the scammer proceeds to make a tweet promising a “secret airdrop” of Beanz, a collection of 20,000 NFTs that airdropped for free to Azuki holders on March…
3 years ago
How Do Crypto Anti-Dumping Policies Work?
Scammers use social media platforms to impersonate celebrities or acquaintances and persuade victims to make fake investments. The rise of cryptocurrencies and the lack of regulations gave new tools to these criminals. We'll look at how the market is attempting to safeguard investors today. For example, crypto commentators frequently emphasize anti-dumping regulations to deter online fraudsters. What Are Pump and Dump Operations? Before dwelling on anti-dumping policies, we must understand what a “pump and dump” operation is. A pump and…
3 years ago
Hackers Targeting MetaMask Users with Novel Phishing Scam
Guardio, a young cyber security company, has detected a sophisticated chain of attacks on non-custodian wallets. Major attack methods employ social engineering techniques and renewed phishing methods to trick wallet owners. The security company's research team explained an ongoing attack on the popular crypto wallet, MetaMask. In effect, Guardio suggests several wallets have been compromised, in what is a grand-scale operation. In the cybersecurity team's opinion, the recent wave of attacks could set the tone for more vicious ones. While…
3 years ago
Honeypot Crypto Scams – What are They and How do They Work?
The growth in popularity of cryptocurrencies is now evident to everyone, enthusiasts, and skeptics. However, among the many consequences of this phenomenon are aspects related to criminal activity. Several reports demonstrate the increase in crypto-related criminal activity in 2022. Among the many operations criminals use, the so-called "honey pot" is one of the most widespread. After a necessary premise on smart contracts, this article will explain how a honeypot works. But, more importantly, we will see how the world is…
3 years ago
Sneaky New Scam Robs Crypto Startups Of $300k+ Using Bitcoin
Small crypto startups are being duped for hundreds of thousands of dollars worth of Bitcoin by figures posing as VCs. Victims reportedly include RematicEGC (RMTX), Taboo token (TABOO), and InstantXRP (INSTANT XRP) – all of which recently suffered massive price dumps. Rematic Gets Robbed Mike Pazuki – CEO of RMTX – recently spoke with CryptoAdventure to share details regarding the scam. He recalled being contacted by two individuals through LinkedIn that claimed to be investors. They both expressed initial interest…
3 years ago
Another Scam: Squid Game Token Plunges to Zero After Rugpull
While cryptocurrencies present tremendous opportunities for multiplying one’s wealth, the space is also rife with scams. The latest came in the form of the Squid Game (SQUID) token, which abruptly lost 99.9999% of its value early this morning. Over $2 billion of buyers’ token value was effectively torched, leaving the founders with over $2 million in profit. Rise and Fall of “Squid Game” Token As displayed on CoinMarketCap, the token saw hyperbolic growth shortly after its inception last week. While…
4 years ago
Bitcoin.org Site Compromised, Hackers Falsely Promise Bitcoin Earnings
Earlier today, hackers compromised the popular open-source Bitcoin.org website. The site was inaccessible as of 05:44 UTC Thursday. A message obstructed the homepage screen, persuading the users to send money to a bitcoin wallet. The notice claims it is doing so since the Bitcoin Foundation is “giving back to the community.” The message says only the first 10,000 users can benefit from the offer. The message has a QR code for the wallet and its address too. All other site…
4 years ago
7 Major Crypto Scams Events and What We Can Learn From Them
Crypto scams have been around ever since Bitcoin came out in 2009. Crypto researchers found that from 2020 to 2022, cybercriminals stole almost $9 billion online. The growth rate of cryptocurrencies has increased over time, with most coins, such as Bitcoin, hitting an all-time high of over $65,000. Unfortunately, while intelligent minds have come up with coins and companies backed by blockchain, scammers have also upped their game to target unsuspecting investors. Major Crypto Scams of All-Time As much as cryptocurrencies have…
4 years ago
Vitae Coin Founders Arrested Over Alleged Crypto Scam
Belgium authorities have arrested Vitae executives suspected of an alleged crypto scam that saw over 220,000 investors lose their money. Seven properties were raided across East and West Flanders and Limburg. In addition, virtue currency totaling more than 1 million in Euros and luxury cars have allegedly been seized by Mendy Z. and Shrage P., the executives. The Rise of Vitae Token Fraud In early 2018 Vitae Token started as Vitae Coin. It was rapidly renamed and promoted by the…
4 years ago