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• Terra temporarily freezes website to stop phishing scams amid security concerns

  TL;DR Breakdown Terra froze its domain to halt phishing scams after hackers compromised the website. Terra’s multichain wallet implemented security updates, and the community is working to revive the project. Description Layer-1 blockchain Terra took decisive action by temporarily shutting down its website to protect users from ongoing phishing scams on the platform.  The domain “terra(dot)money” was frozen to prevent further user phishing scams, with a full resolution still in progress. The move came after Terra’s website was compromised over the weekend by hackers attempting to … Read more Layer-1 blockchain Terra took decisive action by temporarily shutting down its website to protect users from ongoing phishing scams on the platform.  The domain “terra(dot)money” was frozen to prevent further user phishing scams, with a full resolution still in progress. The move came after Terra’s website was compromised over the weekend by hackers attempting to scam users through phishing attacks. Terra’s announcement on August 22 urged all users to avoid engaging with any sites under the aforementioned domain until an official “all-clear” notice is posted. The company stated, “Our team has…

  Article 2023年8月23日

• Binance CEO’s offshore trading accounts received billions in customer funds, US SEC declares

  TL;DR Breakdown Binance CEO CZ and Guangying Chen allegedly received billions of dollars in customer funds, according to the SEC. Funds were funneled through an intermediary holding company controlled by CZ, raising questions about the commingling of customer deposits and company funds. The SEC has filed a lawsuit and is seeking a temporary asset freeze on Binance.US, while Binance denies the allegations and pledges to defend its platform. The US Securities and Exchange Commission (SEC) has alleged that Binance CEO Changpeng Zhao, popularly known as CZ, and Guangying ‘Helina’ Chen, Binance‘s back office and financial manager, received billions of dollars of customer funds. According to new court documents filed by the SEC yesterday, the funds were funneled through an intermediary holding company called Key Vision Development Limited, controlled by Zhao. Binance’s financial network unveiled The SEC’s allegations are based on testimony provided by Sachin Verma, an accountant employed by the regulator. Verma’s forensic analysis of bank statements and web of companies connected to Binance and Zhao reportedly revealed that $12 billion was sent to Zhao. In comparison, $162 million was…

  Article 2023年6月13日

• Gnosis introduces visa-certified debit card for on-chain wallets

  TL;DR Breakdown Gnosis, a sidechain to Ethereum, has unveiled two new product offerings aimed at enabling consumers with crypto wallets to make online purchases using stablecoins and Visa’s payment system. The user’s wallet, specifically Safe wallets in this case, will function like a bank account, and each Gnosis Card will be associated with the user’s Safe account. By combining the convenience of a traditional Visa-powered debit card with the security and transparency of an on-chain self-custodial wallet, Gnosis aims to bridge the gap between the traditional financial system and the emerging world of cryptocurrencies. Description Gnosis, a sidechain to Ethereum, has unveiled two new product offerings aimed at enabling consumers with crypto wallets to make online purchases using stablecoins and Visa’s payment system. The company announced the launch of Gnosis Pay and Gnosis Card, which represent the first decentralized payment network integrating with a traditional payment processor and the first … Read more Gnosis, a sidechain to Ethereum, has unveiled two new product offerings aimed at enabling consumers with crypto wallets to make online purchases using stablecoins and Visa’s payment…

  Article 2023年7月18日

• ASIC Accuses eToro of Mismanagement Over High-Risk CFD Products

  TL;DR Breakdown ASIC has initiated legal proceedings against eToro, alleging that the company breached its design and distribution obligations by offering high-risk CFD products to an overly broad target market. Between October 2021 and June 2023, nearly 20,000 eToro clients reportedly lost money trading CFDs. ASIC criticizes eToro’s screening test for its ineffectiveness in identifying suitable customers for the CFD product. Description The Australian Securities and Investments Commission (ASIC) has initiated proceedings in the Federal Court against eToro Aus Capital Limited (eToro), the popular online investment platform. This legal action is driven by allegations regarding eToro’s handling of their Contract for Difference (CFD) product. This move represents ASIC’s initial legal action focusing on design and distribution responsibilities … Read more The Australian Securities and Investments Commission (ASIC) has initiated proceedings in the Federal Court against eToro Aus Capital Limited (eToro), the popular online investment platform. This legal action is driven by allegations regarding eToro’s handling of their Contract for Difference (CFD) product. This move represents ASIC’s initial legal action focusing on design and distribution responsibilities intended to safeguard consumers. Contents…

  Article 2023年8月3日

• Robert Kiyosaki says American banks will continue to crash

  TL;DR Breakdown Robert Kiyosaki warns of impending bank failures, with regional banks and mortgage companies being at high risk. Kiyosaki encourages independent thinking and skepticism towards the guidance of key figures like President Biden, Federal Reserve Chairman Powell, and Treasury Secretary Yellen. Economist Peter Schiff supports Kiyosaki’s view, attributing the looming banking crisis to fiscal and monetary policy errors.   Description With a perspective honed by years of financial education and authorship, Robert Kiyosaki, renowned for his best-selling book “Rich Dad Poor Dad,” has recently forewarned of the imminent collapse of more banks in the United States. Through his distinct lens, he paints an ominous picture of the country’s banking system, underpinned by an intensifying struggle … Read more With a perspective honed by years of financial education and authorship, Robert Kiyosaki, renowned for his best-selling book “Rich Dad Poor Dad,” has recently forewarned of the imminent collapse of more banks in the United States. Through his distinct lens, he paints an ominous picture of the country’s banking system, underpinned by an intensifying struggle faced by regional banks and mortgage…

  Article 2023年6月20日