Category: Cryptocurrency News

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When ETH2.0 come and become a PoS network, miners will become unneeded. Yet their mining rigs won't disappear, reselling sounds unlikely too. This means they will have to switch which crypto they mine. What do you think they will switch to ? Would they mostly go bitcoin ? Making it jump its hashrate. Another particular…
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There is reason to be confident in the BTC uptrend resuming at $49,000, says Decentrader’s filbfilb.

Cryptocurrency has been the center of attention since the beginning of the pandemic, even reaching the point where Google searches for Bitcoin out weighed the searches of COVID-19. At the same time, world-class scammers have taken note of the increased interest in the sector. With the growing popularity of the crypto and blockchain industries, there has been an unprecedented rise in scammers in this space. The high-tech nature of the crypto industry combined with the limited knowledge that most possess is the perfect combination for scammers. It makes it an easy environment to pull off scams worth millions of dollars. However, there are those working to stop scammers from invading the space. Here is a breakdown of some of the tools and firms working on solutions to fight back the scammers from the budding crypto sector. SpyWolf SpyWolf is a project whose stated mission is to hunt down crypto scammers. They have a goal of eliminating all monetary fraud in the crypto space. To achieve this goal, SpyWolf uses a utility token and advanced auditing services. Every project in the crypto space is welcome to request an audit by the SpyWolf team. The team will then publish easy-to-read audit reviews of the project’s code, team, website, and social media channels. They will then provide a promotional NFT as part of the audit, which can be shared with the project’s community. This NFT acts as a “Certificate of Trust”, which proves to the community that a project is SAFU. The SpyWolf project also offers KYC services that are meant to protect the crypto industry against fraud, money laundering, corruption, and terror financing. Additionally, they offer consultancy services on how to launch a project from the idea stage. SpyWolf experts will guide project creators throughout the process to ensure they possess a strong foundation. As part of the consultancy, SpyWolf works with a team of lawyers to ensure projects comply with law. To ensure that it successfully combats fraud in the crypto space, SpyWolf runs a unique bounty program that rewards those that help identify fraudulent projects in the space. The net effect of the SpyWolf project is the creation of a safer crypto space for all. It ensures that when people try to join the space, they are not scammed, which could put them off technology and ecosystem that could revolutionize all aspects of modern life. CertiK CertiK is another project that is leading the effort to clean up the crypto space. It is a security blockchain with numerous uses. The primary use of CertiK is as a Formal Verification technology for performing security audits on crypto projects. It also runs a leaderboard page where projects are rated by their level of trust. It performs security audits on blockchain protocols, DApps, Wallets, and smart contracts. To date, CertiK has partnered with leading players in the sector such as Huobi, Binance, and IBM. The goal of CertiK is to uncover exploits and other security vulnerabilities in the code of projects in the crypto space. Besides performing audits, CertiK has a secure programming language within its native blockchain. Using this native language, users can create verified smart contracts on the blockchain using DeepSEA. Escrow Protocol Escrow Protocol is another project worth talking about. It operates as a decentralized trust fund, which combines traditional crowdfunding with blockchain technology via smart contracts. Startups seeking funds can create roadmap milestones and timelines. These are based on their actual capacity and realistic performance targets. Via Escrow Protocol, they establish measurable achievement for the delivery of funds once promises have been fulfilled. With Escrow Protocol, project designers can build trust with investors by allowing ICO funds to be managed post-raise using milestone-triggered micropayments. It gives investors unprecedented oversight over a project, which protects them from rug-pulls that have become common in the crypto space. Summary While the crypto space is still young and attractive to scammers, experts within the space are taking them on and succeeding. As the use of the tools above continues to grow, it will help to deter scammers while also helping to build trust amongst potential investors. The result will be a healthier ecosystem, whose growth is not hampered by a lack of trust.

Crypto scams are increasingly prevalent as the surge in DeFi and NFT projects increases. From Discord server bots to imitation NFT projects on OpenSea, new ways of stealing cryptocurrencies through deceit continue to crop up. Most in the space are familiar with a typical rug pull scenario in which many invest in a new blockchain project, only for the project to later disappear and the owner to make off with all the investors’ funds. Others may have fallen victim to “pump and dump” schemes, in which wealthy holders of vast amounts of a cryptocurrency (a.k.a. “whales”) have been known to buy mountains of it cheap to drive up the price and increase its scarcity (thus creating FOMO), only then to sell it immediately, sending the price crashing down and then pocketing the profits. Here are a few ways you can protect yourself from scams. Watch Out For Community-Owned, Renounced Projects One way to avoid suffering the classic rug pull scenario is for the contract owners to renounce their ownership over to the community. Although this prevents a single entity from making an exit with all of a project’s capital, renounced projects can also come with a catch. If there is an issue with the contract after launch, they will not be able to fix the issues and will have to re-initiate the project entirely. Take Advantage of New Security Tools Tech companies in the blockchain space have begun remedying some of these security issues. EverRise’s solution to rug pulls is its EverOwn platform, which maintains the ownership of a decentralized project’s contract instead of the owners themselves. So, if something needs to be altered, the owner can then reclaim ownership with the acceptance of the community. It may be harder to find projects using a tool such as this to decentralize themselves, but knowing if they are would bring additional peace of mind. Many scams have taken place on the Binance Smart Chain (BSC), and a company called RiseUpV2 has developed a BSC token and a technology called “Rug Screener” to bring safety and security to the world of cryptocurrencies. Rug Screener provides investors with the information they need to know about a project to identify crypto scams. RiseUpV2 has collated research tools from various platforms to quickly provide potential investors with information on any smart contract such as contract details, who the creator of the contract is, the project’s liquidity and more. Rug Screener even has a scoring system that provides the user with a warning if it deems a project as unsafe. Do Your Own Research As with any type of investment, it is imperative to do in-depth research before making a final decision. In the world of crypto, a dedicated project channel, whether it is on Telegram or Discord, usually is a great place to start to gather information. In addition to the team members, other users contribute by reporting questionable activities and scams to admins. Twitter, crypto’s go-to social media platform, is also a great place to stay up to date with project developments and news. As the industry continues to grow, investors are able to gather information from traditional and crypto-focused media. There is no doubt that investors in the DeFi space need to continue being vigilant and careful with their choices. It does bring hope, however, that more and more projects and communities are coming up with solutions to make the crypto industry a safer place.        

The plaintiff in the case demanded 217.7 BTC in compensation for his Bitcoin mining infrastructure investment.

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On the 4th anniversary of the exchange, CoinEx has also hosted offline anniversary celebrations around the world with its global partners as a gesture to thank and give back to users. On the morning of December 11, 2021, CoinEx’s Partners in India held the“Meet the CoinEx Team”meet-up to celebrate its 4th anniversary, which attracted many local users. At the meetup, CoinEx’s Indian Partners gave their blessings to CoinEx for its 4th anniversary, and Bonnie, CoinEx’s CMO, greeted the local users through a video call. The event also arranged Quiz and Lottery sessions and wrapped surprise gifts for winners and all local users present. The Indian Partners also got a birthday cake to celebrate the exchange’s 4th anniversary together with the local CoinEx users. Apart from the meetup in India, there will be more fascinating offline events hosted by CoinEx in December. For instance, CoinEx will hold two more meetup events, one in Muntinlupa, the Philippines on December 15, and the other at Minneapolis MOA, US on December 21. Additionally, the “Love Storm” Charitable Program will be held in Nigeria on December 20. Since its inception in 2017, CoinEx has remained committed to its goal of globalization. Over the past two years, it has invested more manpower and funds to expand its international recognition and influence. As a key component of the exchange’s globalization strategy, the CoinEx Partner Program has introduced the CoinEx brand to a wider audience. By working with local KOLs and building localized promotion channels, CoinEx has leveraged the combined strength of Partners and localized operation. CoinEx’s global presence is inseparable from the support and trust of partners and loyal users. The anniversary meetup in India not only showed that the CoinEx is well received among local users but also conveyed CoinEx’s gratitude towards its Partners and users in India. Targeting the country’s market environment and user demands, CoinEx has said that it will recruit more partners for its internationalization and localization in India and conduct more refined, India-specific operations and promotions. In the future, CoinEx will keep offering more user-friendly, more stable trading environments and services for its Indian users in a world fraught with both opportunities and challenges.

Along with the growing popularity of cryptocurrencies, Ukrainians are enjoying an expanding range of related services and products. Besides new options to buy and trade coins, crypto users in the country will be offered two cards that will allow them to spend their digital currencies in stores and online. Wirex Gives Ukrainians Access to Over […]