Category: Cryptocurrency

DOJ Charges 2 NFT Scammers Over ‘Frosties’ Rug-Pull

The US Department of Justice has charged two 20-year-olds, Ethan Nguyen and Andre Llacuna, with conspiracy to commit wire fraud and conspiracy to commit money laundering due to their efforts to scam NFT collectors out of an estimated $2.5 million worth of cryptocurrency.

The department says(Opens in a new window) Nguyen and Llacuna allegedly stole $1 million worth of cryptocurrency through a rug-pull scam—reveal a new crypto project, accept people’s money, and then disappear without ever releasing a product—involving a collection of NFTs known as Frosties.

As the DOJ explains, “Frosties purchasers would be eligible for holder rewards, such

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Gaming-Focused Blockchain Provider Loses Over $622 Million in Hack

A gaming-focused blockchain is reporting what might be the new record holder for largest cryptocurrency hack in history. 

The incident involves the Ronin Network(Opens in a new window), an “Ethereum-linked sidechain” from Vietnamese developer Sky Mavis, which has been using the technology for a Pokemon-style game called Axie Infinity. The blockchain is now reporting(Opens in a new window) it’s lost over $620 million in Ethereum and USD Coin due to an apparent hack. 

The breach actually took place nearly a week ago, on March 23, but was only discovered today. In a blog post(Opens in a

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Hackers Hit Email Marketing Firm Mailchimp to Target Crypto Users

If you use Trezor’s cryptocurrency wallet, watch out: Hackers are exploiting a data breach at email marketing provider Mailchimp to send phishing emails to Trezor users. 

Trezor today sounded the alarm about the phishing messages, which tell recipients that Trezor experienced a “security incident” and ask them to download a new Trezor Suite app. But in reality, the app is a malicious program designed to loot the cryptocurrency funds of users, Trezor parent company SatoshiLabs warned(Opens in a new window) in a blog post.

“This attack is exceptional in its sophistication and was clearly planned to a high level

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Block Is Building a Solar-Powered Bitcoin Mining Facility With Blockstream

Block and Blockstream are building a solar-powered Bitcoin-mining facility.

Block(Opens in a new window) owns Square, Cash App, Tidal, and cryptocurrency-focused Spiral(Opens in a new window) and TBD(Opens in a new window). Blockstream, meanwhile, describes(Opens in a new window) its mission as building the “crypto-financial infrastructure based on Bitcoin.” It will lead the construction of this new mining facility.

Blockstream says(Opens in a new window) that a “3.8 Megawatt (MW) Tesla Solar PV array and 12 megawatt-hours (MWh) Tesla Megapack will power the open-source, solar-powered Bitcoin mining facility at a Blockstream Mining site in

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Nexo, Mastercard Launch World’s First Crypto-Backed Card

If you dabble in cryptocurrency, a new payment card has just launched with the support of Mastercard that allows you to spend the value of your crypto without actually selling it.

As Reuters reports(Opens in a new window), the card was created through a partnership between Mastercard and digital finance lending company Nexo. The so-called Nexo Card(Opens in a new window) is being touted as the world’s first “crypto-backed” payment card.

A physical Nexo Card is available, but a virtual card can be quickly activated by linking it to either an Apple Pay or Google Pay account.

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Cryptocurrency Developer Gets 5 Years in Prison for Aiding North Korea

A US court has sentenced a computer programmer to 63 months in prison for supplying North Korea with advice on how to use cryptocurrencies to evade US sanctions. 

On Tuesday, the US Justice Department announced(Opens in a new window) the sentencing for 39-year-old Virgil Griffith after he pleaded guilty to the charges. Back in 2019, federal agents arrested Griffith for giving a talk at a cryptocurrency conference in North Korea on blockchain technology.

Under federal law, any US citizen is prohibited from exporting services or technology to North Korea unless they receive a license from the US Treasury Department.

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