£155.5m stolen from crypto firm Nomad August 2, 2022 Crypto firm Nomad had $190m (£155.5m) in crypto stolen from it in a heist today. Hackers targeted Nomad’s “bridge” which allows crypto transfers between blockchains and stole £155.5m worth of users’ cryptocurrencies, crypto analytics firm PeckShield said, according to Reuters. Nomad tweeted it was “aware of the incident involving the Nomad token bridge” and that [...]
SEC charges 11 in international £254.6m crypto fraud scheme August 2, 2022 The US Securities and Exchange Commission charged 11 people in a $300m (£254.6m) crypto fraud scheme that spanned multiple countries. The individuals were charged for being involved in creating and promoting the fraudulent crypto pyramid and Ponzi scheme which was called Forsage. The scheme netted more than £254.6m from millions of retail investors in the [...]
Metropolis – Rania and Rashid Ajami August 2, 2022 From the Andrews Sisters to the Jackson Brothers, sibling harmonies are well known and respected. In business too, family run operations head some of the best known ABC & Son/Daughter combinations – but what happens when you take two artistic siblings and merge them into one business? Metropolis World is the answer. Metropolis World, a [...]
Ethereum’s Merge Approaches as Crypto Adoption Surges in Brazil August 2, 2022 Data from CryptoCompare shows that the price of Bitcoin initially moved down at the start of last week, dropping from $22,000 to $21,000. BTC then quickly surged to retest the $25,000 resistance, and has since corrected to $23,200. Ethereum’s ether, the second-largest cryptocurrency by market capitalization, started the week at $1,500 and after an initial [...]
NFT cyber attacks on Discord have led to $22m losses since May August 1, 2022 Hackers have increasingly targeted NFT projects on social media platform Discord since May, causing $22m in losses. Research by blockchain intelligence company TRM Labs found more than 100 reports of Discord channel hacks, with phishing attacks linked to NFT mining scams via compromised channels increasing. Almost a dozen attacks to compromise accounts occurred in the [...]
Low-income crypto investors sold off holdings during crash August 1, 2022 Low-income crypto investors sold off their holdings as the crypto crash swept across the industry, while wealthier investors held on to their portfolios. 46 per cent of crypto investors sold their holdings, with lower income individuals the most likely to do so, a survey by US-based intelligence company Civic Science found in a survey of [...]
Law Commission Breaks New Ground on Crypto August 1, 2022 The consultation on digital assets by the Law Commission is a seminal work and examines fundamental questions. The consultation, together with the Law Commission’s response, will likely serve as a legal textbook for the foreseeable future. In the last few years, we have only had semi-official guidance and a handful of superficial court decisions to [...]
The Metaversal evolution will not be centralised July 28, 2022 Web3 is Metavolutionary Some have questioned whether Web3 offers much in the way of utility. Web3 is the build-out platform for evolutionary economic and governance models. For a Web3 company to succeed, it not only needs a great product, an established userbase, but also an attack-resistant system of governance. While there will be plenty of [...]
GlobalBlock Launches New Upgraded Trading App July 28, 2022 GlobalBlock Europe, UAB (“GBE“), a subsidiary of publicly listed GlobalBlock Digital Asset Trading Limited (TSXV: BLOK) (OTC Pink: BLVDF) (FSE: BD4) (the “Company” or “GlobalBlock“), is pleased to announce that GBE has successfully launched its new mobile trading app. The enhanced technology and feature rich app complements GBE’s service led provision of digital asset services, [...]
UK courts could grant damages in cryptocurrency, Law Commission argues July 28, 2022 British courts could award remedies like damages in cryptocurrencies, the Law Commission said in its Digital Assets Consultation paper today. “There is an arguable case for law reform to provide courts in England and Wales with the discretion to award a remedy (where traditionally denominated in money) denominated in certain crypto-tokens in appropriate cases,” the [...]