Chinese Authority Warns of Fake Digital Yuan App Scam
Cryptonews
by Hongji Feng
4m ago
The Chinese Ministry of Industry and Information Technology (MIIT) has issued a warning about new fraudulent schemes involving counterfeit digital yuan applications. According to a recent social media post by the MIIT, these fake apps are designed to look like the official digital yuan platform, deceiving users into downloading and interacting with them by offering various “promotions.” The counterfeit app, named “Digital Yuan Test Version,” has a logo similar to the official app’s and a slightly different user interface. However, one can differentiate the forged from the authentic by checking ..read more
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Texas Miners’ Lawsuit Spurs EIA to Temporarily Halt Bitcoin Miner Survey
Cryptonews
by Shalini Nagarajan
4m ago
A US judge has temporarily halted the Energy Information Administration’s (EIA) attempt to enforce a mandatory survey on Bitcoin miners. Judge Alan Albright said on Friday that the EIA cannot compel the Texas Blockchain Council or its members to answer the survey. The order also blocks the agency from any data collection or sharing, even of information already received, for four weeks. While the restraining order was issued, EIA Administrator Joseph DeCarolis indicated the agency would voluntarily halt the survey. He outlined the agency’s decision to willingly suspend enforcement of the Bitcoi ..read more
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Philadelphia Tech Professional Falls Victim to $450,000 Cryptocurrency Romance Scam
Cryptonews
by Ruholamin Haqshanas
4m ago
Shreya Datta, a 37-year-old tech professional from Philadelphia, has fallen victim to a cryptocurrency romance scam that left her financially ruined.  The scam, commonly known as “pig butchering,” involves fraudsters using deceitful tactics to gain victims’ trust and trick them into investing in fake cryptocurrencies.  The scam targeting Datta began on the dating app Hinge, where she encountered “Ancel,” a charming French wine trader supposedly based in Philadelphia, she told France24.  The conversation quickly moved to WhatsApp, where the pair exchanged selfies, flirt ..read more
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Australian Vanishes After Receiving Half a Million Dollars in Crypto Account Error: Report
Cryptonews
by Tanzeel Akhtar
4m ago
An Australian man has vanished after allegedly pocketing about half a million dollars when cryptocurrency trading platform Rhino Trading Pty Ltd accidentally added an extra zero to his account, according to an ABC report. The man who has been named as, Kow Seng Chai, has allegedly pocketed hundreds of thousands of dollars after a cryptocurrency trading platform mistakenly credited his account with AUD $995,000 in (US $652,316) instead of AUD $99,500 (US $65,237.) Rhino Trading Pty Ltd said Chai has failed to respond to requests to return the money. By the time the trading firm picked up the er ..read more
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Circle and NFT-Driven Game ‘Overdare’ Collaborate on Web3 Wallets and USDC Payouts
Cryptonews
by Shalini Nagarajan
4m ago
Stablecoin issuer Circle and South Korean NFT-driven metaverse ‘Overdare’ are teaming up to allow game developers to build in-game Web3 wallets within the platform. The collaboration will also empower game creators to facilitate direct USDC payouts on the platform, as per a Monday announcement. Developed by Krafton, the studio behind PUBG, Overdare is a create-to-earn metaverse game slated for a global launch in the second half of 2024. The partnership with Circle extends beyond in-game wallet functionality. Overdare aims to transform intellectual property (IP) and income management for creato ..read more
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Brokerage Oanda to Launch Crypto Trading in the UK: Report
Cryptonews
by Tanzeel Akhtar
1h ago
Brokerage firm OANDA is launching crypto trading in the UK and will be based in London, and the new business will be dubbed, “OANDA Crypto,” according to a CoinDesk report by Ian Allison. The brokerage has registered with the UK regulator, the Financial Conduct Authority (FCA). Following the acquisition of London-based crypto exchange Coinpass in 2023, the firm has a FCA registration. OANDA is a global brokerage and already has regulated entities in New York, Toronto, London, Warsaw, Singapore, Tokyo, and Sydney, according to the broker’s website. UK Crypto Market Active and ‘Well Educated ..read more
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$30 Billion RIA Platform Carson Group Approves Only 4 Bitcoin ETFs
Cryptonews
by Hongji Feng
1h ago
Carson Group, the registered investment advisor (RIA) platform managing $30 billion in assets, has selected just four spot Bitcoin exchange-traded funds (ETFs) for its users. According to a recent report by Bloomberg, the four out of 10 SEC-approved ETFs included BlackRock’s iShares Bitcoin Trust (IBIT), Fidelity’s Wise Origin Bitcoin Fund (FBTC), Bitwise’s BITB, and Franklin Templeton’s EZBC. Carson Group’s Selected Bitcoin ETFs The platform’s selection of the four Bitcoin ETFs was initially driven by a focus on funds that have demonstrated outstanding growth and popularity. For instance, Ca ..read more
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Microstrategy’s X Account Hacked, Promotes Airdrop Scam
Cryptonews
by Tanzeel Akhtar
3h ago
MicroStrategy’s X account was compromised on Monday Asia time with followers being directed to a phishing website under the domain name “Microstralegy” promoting an airdrop of “MSTR token.” The posts have been deleted. A spokesperson from Microstrategy was unavailable to comment further on the hack. It is estimated that around half a million could have been stolen from MicroStrategy’s X account being  compromised. 0xe7645b8672b28a17dd0d650a5bf89539c9aa28da ~$440K stolen from the compromise so far — ZachXBT (@zachxbt) February 26, 2024 SEC X Account Hacked in Bitcoin ETF Scam This lates ..read more
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Russian Parliament Set to Approve Use of ‘Digital Assets’ in International Payments
Cryptonews
by Tim Alper
3h ago
Russian parliament members could this week approve legislation that will allow firms in the nation to use “digital financial assets” in the international payments space. Per RBC, the draft law excludes crypto – although many Russian firms are already using tokens like Bitcoin (BTC) to trade with overseas partners. Russian Parliament ‘Could Vote on Law as Early as Feb 27’ The State Duma Committee on the Financial Markets approved new amendments to the draft law on February 21. The bill has already passed a first reading in the lower parliamentary house and requires a second reading before ..read more
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Is Crypto a Security? South Korean Courts Can’t Decide – and It’s Causing Legal Backlogs
Cryptonews
by Tim Alper
7h ago
“Is crypto a security?”– South Korean courts cannot seem to decide on the answer, and a new report claims the conundrum is causing a legal backlog. Per Newsis, individual judges at the Seoul Southern District Court are finding themselves drawn into debates about whether certain coins can be considered to have “security properties.” ‘Is Crypto a Security?’ – Judges Forced to Make Difficult Decisions The Seoul Southern District Court is handling two of the highest-profile altcoin “price manipulation” cases in South Korean legal history. The court is now handling various cases relating to t ..read more
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