PayPal expands crypto support with MetaMask integration

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  Article 2023年9月13日

• Twitter hacker and crypto scammer receives 5-year prison sentence

  TL;DR Breakdown The hacker used a SIM swap attack on an executive to steal crypto worth $794,000 on Twitter. He did not hide his trails properly. In July 2021, Spain arrested O’Connor, who was extradited to the U.S. on April 26, 2023. He pleaded guilty in May to conspiracy to commit computer breaches, wire fraud, and money laundering, among other offenses. Blockchain sleuth ZachXBT earlier this month discovered a group of scammers who SIM-swapped at least eight accounts belonging to well-known figures in the crypto industry, including DJ and NFT collector Steve Aoki, Puddy Penguins creator Cole Willeman, and Bitcoin Magazine editor Pete Rizzo.   Description On Friday, Joseph James O’Conner was given a five-year prison term for his role in the 2020 Twitter hack by a federal court. The 24-year-old man, who goes by the online moniker “PlugwalkJoe,” pleaded guilty last month to a number of cybercrimes, including a SIM-swapping attack against a TikTok account with millions of followers.  In … Read more On Friday, Joseph James O’Conner was given a five-year prison term for his role in the…

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• Japan’s new crypto regulations, what you need to know before June 1st

  TL;DR Breakdown The Japanese parliament has recently decided to implement stricter Anti-Money Laundering (AML) measures starting from June 1st. The G7 Committee, which met in Japan in mid-May, expressed support for the Travel Rule and emphasized the importance of global standards for cryptocurrencies. The Travel Rule requires financial institutions processing cryptocurrency transfers exceeding $3,000 to provide recipient exchanges or institutions with customer information. The Japanese parliament has recently decided to implement stricter Anti-Money Laundering (AML) measures starting from June 1st. This move comes as a response to the international financial watchdog, the Financial Action Task Force (FATF), deeming Japan’s previous AML legislation insufficient. The aim is to align Japan’s legal framework with global cryptocurrency regulations. One of the key features of the new measures is the enforcement of the “Travel Rule” in order to enhance the tracking of criminal proceeds. The Travel Rule requires financial institutions processing cryptocurrency transfers exceeding $3,000 to provide recipient exchanges or institutions with customer information. This information includes the name, address, and account details of both the sender and recipient. The G7 Committee, which met…

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• Base unleashes noncustodial liquidity markets with Aave v3 fork

  TL;DR Breakdown Base launches non-custodial liquidity markets on its layer-2 network. This move is backed by major names like Seashell, RNG Labs, and Loreum Labs, among others. The initiative has birthed the Seamless Protocol, a version of Aave v3. Description In an audacious move, Base, the layer-2 network, is stepping into the future by launching non-custodial liquidity markets. This launch signifies a pivotal turn in decentralized finance, bringing with it a blend of innovation and automation. It offers a new way to use trustless smart contracts, which will enable the seamless connection of liquidity pools … Read more In an audacious move, Base, the layer-2 network, is stepping into the future by launching non-custodial liquidity markets. This launch signifies a pivotal turn in decentralized finance, bringing with it a blend of innovation and automation. It offers a new way to use trustless smart contracts, which will enable the seamless connection of liquidity pools with their borrowing counterparts. The Powerhouses Behind the Revolution Joining hands for this ground-breaking initiative are big names like Seashell, RNG Labs, and Loreum Labs. Additionally, the…

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• IMF tips eNaira for improvement in its assessment

  TL;DR Breakdown The IMF has tipped the Nigerian CBDC for improvement following its first development anniversary. The agency talks about the CBDC’s flaws. Nigeria’s eNaira, the country’s central bank digital currency (CBDC), recently celebrated its first year in operation, and the International Monetary Fund (IMF) has released a working paper analyzing its performance during this period. While the IMF researchers commended the eNaira’s debut year, they also provided suggestions for improvement. IMF suggests improvements to the eNaira As the second CBDC in the world after the Bahamian Sand Dollar, the eNaira made its debut in October 2021. The IMF paper revealed that the retail side of the eNaira showed no latency issues. However, its adoption remained limited to initial users, failing to achieve its primary goals of extending financial inclusion to the unbanked population and facilitating remittances, as envisioned by the Central Bank of Nigeria. The paper highlighted that only around 1.5% of eNaira wallets were active weekly, with a total of 802,000 transactions recorded during the observed period. These figures indicate minimal usage, with less than one transaction per…

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