Altcoins

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…

South Korean prosecutors have prohibited current and former Terraform Labs employees from leaving the country. Bloomberg reported earlier today, citing an official with the prosecutor’s office in Seoul. The travel restrictions seek to ensure the employees are readily available for questioning. The official, however, failed to disclose the number of Terraform employees that have received travel restrictions. Additionally, the source did not share details about the status of the investigation, which started last month. The probe seeks to determine whether…

Celsius Network’s lead investor BnkToTheFuture and its co-founder Simon Dixon have proposed a recovery plan for the beleaguered crypto lender. In a June 18 statement, Dixon - also BnkToTheFuture’s CEO - said the solution involves security tokens, debt, and equity. To prove the recovery plan works, he noted that Bitfinex previously used a similar strategy. According to Dixon, BnkToTheFuture helped save Bitfinex from liquidation in 2016 after the exchange suffered a high-profile hack. He did not specify how security tokens,…

MakerDAO, the organization behind the DAI stablecoin, has temporarily suspended the depositing and minting of DAI on the crypto lending platform Aave. The suspension came after Maker (MKR) holders voted to disable the Aave DAI Direct Deposit Module (D3M) on June 16. The proposal got a 64% approval rate, allowing Maker to implement the change on June 17. According to Maker, [embed]https://twitter.com/MakerDAO/status/1537217119913484288[/embed] By disabling Aave’s D3M, Maker stopped Aave traders from borrowing DAI against staked Ethereum (stETH), which lost its…

The complainant labeled the now-struggling meme token Dogecoin a pyramid scheme.   The richest man in the world is facing a lawsuit filed after Dogecoin, the meme crypto he promoted, dropped to a nadir. The claimant, a certain Keith Johnson is demanding a settlement of almost $258 billion in damages. Johnson claims the defendant advertised Dogecoin as a legitimate investment when it was just "a pyramid scheme". He also desires that New York law bans the defendant from promoting the…

1inch – the leading decentralized exchange (DEX) aggregator platform – has announced an integration with the defi derivative platform Opium. The integration will allow 1inch users to access Opium’s derivatives pools directly from within the 1inch app. In a press release shared by 1inch, the company stated that all derivative pool transactions will be conducted through Opium’s smart contract. Opium facilitates the trading, creation, and settlement of decentralized derivatives. It’s based on open-source smart contracts within the Ethereum network. The…

Payment service provider Checkout.com has partnered with crypto security firm Fireblocks to launch a stablecoin settlement solution for merchants. The company unveiled this news earlier today through a press release. This product currently supports USD Coin (USDC), but Checkout.com plans to add more assets in the future. According to the press release, the solution leverages Fireblocks’ new crypto payment technology. Checkout.com is the first payment service provider to embrace this technology. The company is also the first to roll out…

The US Securities Exchange Commission (SEC) is investigating leading crypto exchange Binance and its token Binance Coin (BNB). A Bloomberg report unveiled this news on June 6, citing sources familiar with the matter. The sources requested anonymity to reveal details of the confidential investigation. According to the report, the SEC is looking into whether Binance violated securities laws. Specifically, the securities regulator seeks to determine whether Binance’s Initial Coin Offering (ICO) involved the sale of an unregistered security. This ICO…

Defi Yield Protocol (DYP) – a yield farming aggregator platform – has opened its GameFi adventure experience “CAWS Adventures” to its users. NFT holders may now connect their wallets and begin playing right away. According to an announcement from DYP on Tuesday, users must hold a CAWS NFT if they wish to play. The game’s site already features 10 levels for CAWS holders to play in, and a leaderboard of the highest-scoring wallet addresses. CAWS (Cats and Watches Society) is…