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Two fraudsters in the UK have been jailed for six years following ‘Operation Curry,’ a police investigation into a scam that used cold-calling to trick victims into investing in a completely fictitious Crypto currency called Telecoin.  Ross Jay, 33, and Michael Freckleton, 37, were charged with conspiracy to defraud and sentenced in Southwark Crown Court last Friday, according to City of London Police.   The pair invented Telecoin and a fake company called ‘Digi Ex.’ They then sold shares in the made-up Crypto , luring victims with talk of a lucrative emerging market. Chief Inspector Lee Parish from City of London Police’s fraud team said: “ Jay and Freckleton exploited this mindset and knowingly chose to simply take the victims’ money for their own financial gain, with no intention whatsoever of providing a service that even resembled a credible investment.” Drug gang used Coinbase to launder crypto from prison Read more: Worldcoin eyed by...

Brian Armstrong claimed SEC staff said all cryptocurrencies but Bitcoin are securities and requested the exchange delist all other cryptocurrencies. Crypto exchange Coinbase was once told by the United State securities regulator to delist all cryptocurrencies on its platform except for Bitcoin (BTC), according to CEO Brian Armstrong. In a July 31 interview with the Financial Times, Armstrong revealed that the U.S. Securities and Exchange Commission wanted the exchange to delist the nearly 250 tokens on its platform prior to it filing a lawsuit against the exchange. At the time, the SEC reportedly said it believes “every asset other than Bitcoin is a security,” said Armstrong. “We said, well how are you coming to that conclusion? Because that’s not our interpretation of the law,” Armstrong added. He recounted that the regulator said “we’re not going to explain it to you, you need to delist every asset other than Bitcoin.” It’s a similar view held by SEC chair Gary Gensler who claime...

Both Avalanche (AVAX) and Cardano (ADA) have been moving super slowly this month. What’s worse, Avalanche (AVAX) broke its bullish run by dropping in price recently, while analysts worry that Cardano (ADA) is on its way to repeating its 2019 downward trend. Luckily, VC Spectra (SPCT) is here to save the day with its massive potential and upcoming 900% gains , which it will realize once its PR esale ends.  BUY SPCT TOKENS NOW VC Spectra (SPCT) To Make Early Investors 10x Richer Nowadays, there aren’t many crypto projects that offer as much real-life utility and high-return potential as VC Spectra (SPCT). VC Spectra (SPCT) is a decentralized hedge fund that works as a regular hedge fund, offering people the chance to invest in different investment portfolios, but the difference is that it invests in Web3 and blockchain projects and tokens.  Also, VC Spectra (SPCT) is completely transparent in the way it works and offers VC Spectra (SPCT) holders full control over their a...

Security firm SlowMist reveals the alarming rise of fake deposit attacks targeting crypto exchanges. Attackers exploit system errors to deceive exchanges, obtaining crypto for free. The tactics include fabricating events, zero confirmation, and fake coins. In a recent blog, blockchain security firm SlowMist revealed the alarming prevalence of fake deposit attacks targeting crypto exchanges. These attacks exploit system errors in exchanges’ deposit operations, allowing attackers to deceive the exchanges into crediting digital assets to their accounts without any actual payment. The security firm outlined the typical deposit process in exchanges and noted that the decentralized architecture of blockchain prevents security measures from blocking such malicious transactions from scammers. SlowMist clarifies that fake deposit attacks are not inherent blockchain vulnerabilities; instead, attackers exploit specific blockchain characteristics to create decep...

At the recent AWS Web3/Blockchain Summit in New York City, Amazon said it would expand its AMB services to include Access and Query functions to enhance their support for web3 develop ers. Amazon Web Services (AWS) has been progressively integrating web3 infrastructure into its offerings since the launch of Amazon Managed Blockchain (AMB) in 2019. Amazon catering for developers in web3 These services enhance AMB’s capabilities, allowing develop ers to engage with public blockchains and develop scalable applications securely and rapidly.  You might also like: Total crypto market cap is still worth more than Amazon With the introduction of AMB Access, develop ers can utilize standard remote procedure calls (RPCs) to interact with digital assets and distributed applications across multiple blockchains, beginning with Bitcoin, without needing specialized infrastructure.  AMB Query allows develop ers to retrieve data from the mainnet of popular blockchains such as...

ICHI: YIELD IQ LIVE ON ARBITRUM! This launch presents an incredible opportunity for token holders, DAOs, and other DeFi projects in the Arbitrum ecosystem to unlock new income streams and maximize earnings through Yield IQ’s innovative strategy. Yield IQ’s innovative solution for liquidity provision has already gained significant traction in the DeFi space with some projects deciding to put their ARB tokens to work. Traditionally, liquidity providers have faced challenges in generating consistent profits due to capital inefficiencies and a lack of expertise in liquidity provision strategies. Yield IQ addresses these challenges head-on with its fully automated, on-chain liquidity provision strategy. The Power of Yield IQ Yield IQ efficiently deploys liquidity to Uniswap V3 concentrated liquidity pools. With a single token deposit, token holders can passively earn returns while the algorithm actively manages their preferred token and generates trading fees from liquidity pools. What sets...

“Impermanent loss is usually permanent loss,” said Binance CEO Changpeng Zhao in his latest tweet. Zhao asked his followers to stay safe and added that stablecoins were not always stable. However, some of his critics called him out for listing fraudulent stablecoins such as First Digital USD (FDUSD). Changpeng Zhao, the CEO of Binance, took to Twitter to inform his followers that loss termed “im permanent loss” is usually permanent loss, irrespective of the name used. “Don’t let a term fool you,” said Zhao in his latest Tweet. Im permanent loss is a term used in DeFi when the price of users’ deposited assets changes compared to when they deposited them. Unpopular x: "Im permanent loss" is usually " permanent loss". Don't let a term fool you. And "stable" coins… are not always stable. Learn risk management. Stay #SAFU. — CZ Binance (@cz_binance) July 25, 2023 Zhao also added that “stab...

US House To Markup Crypto Bills The US House Financial Services Committee to markup H.R. 4763, the “Financial Innovation and Technology for the 21st Century Act”, H.R. 1747, the “Blockchain Regulatory Certainty Act” and H.R. 2969, the “Financial Technology Protection Act of 2023.” advertisement The bills define when a crypto is a security or a commodity, establish a regime for stablecoins regulation, and clarity over US SEC and CFTC jurisdiction and oversight. It will follow a full vote by the House of Representatives and forward to the Democrats-led Senate for approval of a regulatory framework for crypto in the US. This will be another milestone for the crypto industry after Ripple’s partial win against the US SEC. Kristin Smith, CEO of the Blockchain Association, said: “Obviously we’ve had some important decisions come from the courts in the past, but this is by far the most significant legislative moment ...

Spain’s leading private bank A&G has launch ed a crypto investment fund, indicating a rise in adoption in the European nation. According to a report by Europress, the bank has already registered the fund’s brochure with the regulatory National Securities Market Commission (CNMV). A&G is set to offer this investment product to interested clients. The decision came as A&G observed a surge in interest from investors seeking cryptocurrency exposure.  The bank believes that investing in crypto assets can be safer and more efficient with proper risk management and regulation. You might also like: Spain ends notorious crypto scam with over $110m lost to hackers A&G further emphasized its forged partnerships with respected financial institutions to guarantee the fund’s security and compliance. CACEIS Bank, the joint asset servicing arm of Crédit Agricole and Santander, will act as the fund’s depositary, while the well-known auditing firm...

Binance, its CEO Changpeng Zhao (CZ), and the company’s former compliance chief Samuel Lim seek to dismiss the complaint filed by the US CFTC. On March 27, 2023, the Commodity Futures Trading Commission took legal action against Binance for violating the Commodity Exchange Act and offering futures trades without registering as a futures commission merchant (FCM). You might also like: US CFTC takes legal action against Binance, crypto markets fall Moreover, according to the motion , the defendants seek to file two separate motion s to dismiss CFTC’s lawsuit . Binance and CZ file a joint motion while Lim goes independent. The defendants requested the court to allow them to respond with a 50-page motion while currently limited to only 15 pages. Per the document, the defendants’ response against the CFTC needs to be submitted by July 27 to the US District Court for the Northern District of Illinois. Last month, the US Securities and Exchange Commission (SEC) sued Binan...

Blockchain security firm PeckShield has detected multiple fake Worldcoin token s amid the recent launch of OpenAI CEO’s cryptocurrency.  PeckShield identified two fake Worldcoin tokens circulating on the Ethereum network. The first demonstrated a staggering 100% price drop, indicating its dubious nature. It quickly became evident that it was a rug pull, posing severe risks to unsuspecting investors. #PeckShieldAlert PeckShield has detected that a fake #Worldcoin rugged. https://t.co/TOhOpZc3Wn The fake #WorldCoin has dropped -100%. The Deployer 0x477aF2 has interacted with #SimpleSwap and #MEXC , and originally funded 161.6 $ETH from #MEXC https://t.co/4idBsxtSrm pic.twitter.com/wY8QZcyWdV — PeckShieldAlert (@PeckShieldAlert) July 24, 2023 The deployer address 0x477aF2 was involved with well-known crypto platforms SimpleSwap and MEXC. Further investigation revealed that the perpetrator had initially funded the fake Worldcoin with a substantial amount of 161.6 ETH, ori...

This week, the United States Securities and Exchange Commission (SEC) hinted at exploring other legal avenues after Judge Torres ruled that XRP is not a security. Meanwhile, the FTX saga had some surprising revelations. Despite this, regulatory efforts remained in the spotlight amid increasing crypto adoption. SEC may appeal the XRP court’s ruling Following Ripple’s win against the SEC, lawyer Marc Fargel expressed skepticism about the court’s ruling. In his view, the ruling could question the watchdog’s arguments on secondary market trading of assets, including crypto. He predicted possible appeal s from both parties, with the regulator having an advantage in overturning the ruling on “programmatic sales.” He noted that if the SEC does not appeal , it could affect the cases it has with other crypto -focused entities such as Binance and Coinbase. Following Judge Torres’ ruling, which declared XRP as not falling under the definition of a se...

Investing involves understanding and leveraging that knowledge to identify discrepancies between an asset’s value and its current price. Google has embraced digital assets by updating the Google Play Store Policy, now allowing non-fungible tokens (NFTs) and other blockchain-based application content. This aligns with a recent US court ruling declaring XRP as not a security and major American money managers expressing a positive stance on Bitcoin. A clear directional shift is underway in the crypto market, and savvy investors who are watching recent developments have likely taken note. Notably, a substantial disparity exists between the current valuations of top altcoins and their intrinsic value. The demand for Polkadot, Cardano, and DigiToads is soaring as experienced market actors seek to profit from this inefficiency.  DigiToads emerging as market leader DigiToads and several other new decentralized finance (DeFi) projects are perceived to offer signific...

Note that this move comes after the exchange laid off over 1000 in response to an ongoing Justice Department investigation that will probably result in a consent decree or settlement. advertisement The New Crypto Enforcement Team The National Cryptocurrency Enforcement Team, or NCET, would be a permanent fixture of a branch inside the department’s criminal division that handles a variety of computer-related investigations, according to a speech given by top Justice Department official Nicole Argentieri on Thursday. After Eun Young Choi , the team’s current director, leaves, Claudia Quiroz will take over as acting director, according to Argentieri. According to a department official, Choi will be moving on to a new post inside the Justice Department. In 2021, the Justice Department established NCET. Since then, a slump in the sector and the demise of the cryptocurrency exchange FTX have increased the team’s output and profile. Sam Bankm...

The fast-paced realm of digital currencies can be intimidating, with its intricate workings and ever-changing dynamics. However, fear not! This article aims to simplify the subject for you, whether you’re a novice or an experienced enthusiast. We’ll delve into the exciting world of cryptocurrencies and unveil the numerous ways you can turn them into PR ofitable ventures in 2023. So, gear up to explore the potential of crypto and discover how you can make money in this thriving industry. Seizing Opportunities in the Crypto Market One of the PR imary avenues for making money with cryptocurrency is through trading. By purchasing cryptocurrencies and patiently holding onto them until their value increases, you can sell them for a PR ofit. Alternatively, for those seeking quicker returns, day trading offers a compelling option. Day traders take advantage of short-term PR ice fluctuations to generate income. However, it’s crucial to approach trading with caution...