Author: Ocrypto

Donations and crowdfunding play an important role in the cryptocurrency space, which leads to a great deal of activity and participation. But what happens when you start a social experiment and ask backers to send you crypto, without promising anything in return? You receive up to $1.1 million worth of Ethereum (ETH) in just 24 hours, apparently, as shown by the example of Pauly, the anonymous co-founder of the community-created NFT marketplace NotLarvaLabs. Unlike initiatives that promise shareholder tokens, participation in future gains, or any other type of tangible or intangible gain, Polley has made it clear in his call…

31-year-old social media influencer Danish Sahadeva has pleaded guilty to a series of criminal charges related to money laundering using cryptocurrency. US prosecutors accused Sahadeva of fraudulently obtaining more than $1.2 million in government aid loans. A three-year criminal empire has collapsed On May 31, the US Department of Justice (DOJ) issued a press release declaring TikTok influencer Danish Sahadeva guilty of multiple criminal offenses. These crimes include wire fraud, aggravated identity theft, and money laundering. According to the plaintiffs, an extended search of the defendant’s Potomac property led to the discovery of the fraudulent activity after three years of…

While many celebrate the slew of new implementations for Bitcoin (BTC) connected to the new “Ordinals” protocol, the developers who maintain the network’s source code are in a state of confusion. Critics say that new types of transactions beyond simple Bitcoin transactions are trying to use the blockchain for its intended purpose. One such critic is Ali Sharif, who told Bloomberg that he believes the Bitcoin system has been “misused.” The developer advised to introduce a Bitcoin update in early March that would cancel all transactions related to the new protocol. “The valueless tokens threaten the smooth and normal use…

Cybil cultivation became popular in the cellar before airdrops. At the first shout of a new token, wallet addresses are used by many people to generate loyalty tokens and randomly interact with a new project in the nascent cryptocurrency. Airdrops usually reward the “most loyal users” in the community. But loyalty can mean many different things. Is it measured by the number of transactions using a protocol? Is it a dollar amount that you are transferring? Or is it something completely different? Called sybil farming, such attacks are great for people making five-figure sums with the touch of a few…

UVL Studio’s flagship Axis Mundi project launches the first installment of a narrative Bandernach-esque NFT. Beyond making money, this week design studio UVL is releasing a special “Choose Your Own Adventure” NFT project. The ‘Axis Mundi’ journey consists of three main components and will begin on June 6 in an unlocked 72-hour edition where users will be able to access so-called power-ups. The open version of mint implies an unlimited number of NFTs in the pool. Created by new media artist Jason Ting and sound designer Pelican Sound, these elements appear as 20-second video loops of light and fluid. Objects…

Major decentralized lending protocol Aave has “temporarily” suspended lending services in 17 markets, citing excessive volatility that could pave the way for attempts to manipulate the market. Yesterday Duffy Protocol approved the referee’s vote on the matter, with nearly all members voting in favor of the motion. Notably, less than 0.01% of AAVE holders opposed the proposal, while nearly 100% supported it. The protocol stopped lending of 17 cryptocurrencies, including five stablecoins. Banned stablecoins include SSD, USDP, LUSD, GUSD, and RAI. Other affected assets are Yearn Finance (YFI), Decentraland 1 inch (1 inch), Curve Finance (CRV), 0x (ZRX), Basic Attention…

Security News Tender.fi, a whitewashing hacker targeting a decentralized finance (DeFi) protocol, received a $1.6 million error bounty of stolen ETH 62.15 on Tuesday. According to the group’s report, the borrower was able to borrow $1.59 million worth of the property on March 7, 2010, even though the borrower had only deposited 1 GMX. of loans” minus error reward. The Hedera Network core team recently discovered a vulnerability on the network where hackers could steal funds through user accounts on decentralized exchanges (DEXs). “Today, attackers used the Hedera Mainnet’s smart contract service token to transfer Hedera Token Service tokens held…

Ethereum equity provider Lido introduced its native LDO token in an effort to increase the utility and financial sustainability of the token. According to a proposal posted on Lido’s governance forum on May 17, the staking program would allow token holders to take an estimated 20-50% share of Lido’s future earnings to replace the LDO. The proposal was written by a member of the Lido community named Lidomaxi. Source: research.lido.fi Under the proposal, stock awards would be paid out on a weekly basis, but this does not mean that recipients are free to use their awards immediately. Instead, the resulting…

Binance has seen its market share drop by 25% in the past three months as it faces mounting regulatory pressure from US regulators. The world’s largest cryptocurrency exchange accounted for 57.5% of the average monthly volume of all crypto transactions in February, the Financial Times reports, citing research provider CCData, but its market share has now fallen to 43%. Increased regulatory scrutiny in the US and the end of introducing no-fee trading are among the main reasons for the downturn in the Binance stock market. Earlier this year, regulators in New York stopped issuing BUSD, a Binance-branded stablecoin that accounts…

In the ever-expanding arena of cryptocurrency markets, the rules of the game have evolved beyond recognition – and no longer guarantee longevity in market dominance or profit. Today, the winners are those who successfully navigate the wave of a rapidly changing market and ride the latest innovations. At the forefront of this digital revolution is yPredict.ai, an AI-driven cryptocurrency trading platform, following the latest fundraising breakthrough in the industry. With a promise to bring venture capital analytics levels to the retailer, yPredict is not just about breaking records, it’s about creating new records. With their native token, YPRED, they have…