Terra’s Meltdown and the Humbling of Do Kwon

Amid the bloodbath suffered by all of crypto on Monday, one digital asset collapsed hilariously harder than the rest: Terra. Yes, that includes everything – from the Terra (LUNA) governance token, to its so-called “stablecoin” TerraUSD (UST). The former is down over 75% on the week, while the latter collapsed below $0.7 despite intended $1.00 price peg. The token’s absolute meltdown has nearly removed it from the top 20 cryptocurrencies, despite being top 10 mere days ago. The ordeal has…

Ripple CEO Blames Bitcoin Maximalists for Stifling Crypto Industry

Ripple CEO Brad Garlinghouse recently called out “tribalism” within certain crypto communities for fracturing industry representation. Narrowing in on Bitcoiners, he claimed that polarization from the community “isn’t healthy” and that “all boats can rise” within the space. Ripple’s Regulatory Troubles Garlinghouse made his comments during a CNBC-hosted chat at Paris Blockchain Week Summit last week. He clarified his belief that the entire industry can thrive and that he owns multiple cryptocurrencies including Bitcoin and Ethereum. Ripple is the company behind…

US Treasury Targets Russian Bitcoin Mining Companies With New Sanctions

One day after the IMF’s warning, the US treasury has hit multiple Russian Bitcoin mining companies with secondary sanctions. The increased restrictions should prevent Russia from monetizing its energy resources using proof-of-work crypto networks. Cutting Off Mining Resources As reported by CNBC, this marks the first time the Treasury has ever placed trade restrictions on virtual currency miners. Last month, President Biden announced that America would no longer accept Russian oil, with other jurisdictions following suit. Gas prices in the…

Apple Store Gunman Demanding €200 Million in Crypto Confirmed Dead

The robber caused a stir when it started a hostage situation in an Amsterdam-based Apple store, before demanding more than 200 million euros in crypto.  Robber Takes Hostage, Demands Crypto Ransom An armed man, dressed in camouflage, reportedly took over an Apple store in Leidseplein and held one person at gunpoint. The armed man afterward gave an ultimatum of 200 million euros to be paid in crypto or the hostage's life. The suspect, only later identified by a local newspaper…

Magic Eden Implements Stringent KYC Procedures Following Scams

NFT creators on Solana marketplace Magic Eden will now be subject to stricter procedures. The company announced a new doxing policy for creators who want to drop their collections on the marketplace. This policy would ensure stringent safety and project quality checks that would protect the interest of minters. The recent development unfolds against a backdrop of rug pull scams that saw minters lose thousands of dollars on Magic Eden. Minters lost $58,000 (645 SOL) in the first scam because…

Canadian Trucker Gets $8000 in BTC During Livestreamed Protest

A live recording of the ongoing protest against Canadian Corona protocols caught a Canadian trucker benefiting from a crypto fundraiser.  Donors are turning to non-custodian crypto exchanges to fund the ongoing trucker protests.   Amidst the recent events in Canada, a moment of joy prevailed when a Canadian trucker received $8000 in Bitcoin out of the +$900,000 raised for the Freedom Convoy 2022 campaign. A witness revealed how the incident unfolded play-by-play. According to Tim Pastoor, the trucker received an…

1inch Introduces “Spot Price Aggregator” Tool To Fetch Price Data For Display In DApps

The popular decentralized exchange aggregator “1inch” has dropped another useful tool for Web 3 and Defi developers. This time, it's the “spot price aggregator” – a tool that extracts price data for tokens traded on multiple DEXs right from the blockchain. This data can be incorporated right into any person’s project, using publicly available smart contract addresses and source code on Github. What is the Spot Price Aggregator? According to a press release shared with CryptoAdventure, the new tool works…

Monero Could Be in Danger of a 51% Attack

Monero (XMR) faces the risk of a majority attack shortly. Despite being a reputable alternative to altcoins for incognito transactions, the privacy coin could soon compromise its integrity. In light of recent efforts to kick out ASIC miners, new metrics continue to expose the susceptibility of Monero’s blockchain to a 51% takeover. A majority attack means a user (or a group of users) has pooled resources to usurp a blockchain by possessing more than 50% of its computing power.  Miners…

North Korea Accused of Funding Nuclear Programs with Crypto-focused Cyberattacks

According to reports, the United Nations claims North Korea might funnel crypto obtained via coordinated cyberattacks on exchange platforms towards its weapons programs. North Korea’s military is suspected of having generated about $2 billion from crypto hacks since 2019. UN Reports on Attacks By DPRK Cyberactors The information was initially sourced from a UN report where a member state alleged that cyber actors from the Democratic People’s Republic of Korea (DPRK) had made off with virtual currency worth over $50m.…

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