In India, a victim of a collapsed cryptocurrency pyramid scheme kidnapped two of its employees and extorted money from them.
Indian authorities have arrested a suspect for kidnapping two employees of the collapsed cryptocurrency pyramid scheme BitConnect and extorting over $120 million in cryptocurrencies.
It is reported that he allegedly lost funds due to the pyramid's collapse and sought to recover his investments. Along with accomplices, he kidnapped two former BitConnect employees and demanded 2091 bitcoins, 11,000 Litecoin coins, and 145 million Indian rupees (approximately $1.7 million) for their release.
The financial pyramid scheme BitConnect operated from 2016 to 2018. As a result of its collapse, around 4,000 people worldwide collectively lost over $2 billion.
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The revenue of the PumpFun platform reached $95 million in the 8 months since its inception, with over 1.8 million meme coins launched on the Solana blockchain through it.
However, analysts calculated that only 3% of traders who traded these tokens managed to earn more than $1,000. And only 20% of them made any profit at all.
▪️ The 6 most successful traders collectively earned over $140 million.
▪️ 70 traders managed to earn over $1 million, which accounts for 0.0028% of all wallets on the platform.
▪️ 924 traders managed to earn over $100,000 — this group constitutes only 0.037% of all wallets trading tokens launched through PumpFun.
▪️ 80% of traders ended up at a loss.
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X (formerly Twitter)
Scam Sniffer | Web3 Anti-Scam (@realScamSniffer) on X
🚨 5 hours ago, a victim lost $55.43M in DAI after signing a phishing transaction targeting its DeFi Saver Proxy.
How did this happen? 👇
How did this happen? 👇
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Tether will launch a stablecoin pegged to the UAE dirham.
Reportedly, each token will be fully backed by liquid reserves. Tether intends to obtain a license from the UAE Central Bank.
The stablecoin is being touted as an effective tool for transactions in dirhams, including cross-border payments, trading, or simply diversifying digital assets.
The new asset will be launched in partnership with the tech conglomerate Phoenix Group and with support from Green Acorn Investments.
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🇷🇺 #crypto #ads
In Russia, a law on cryptocurrency mining and circulation has come into effect, which, among other things, includes a ban on advertising cryptocurrencies and various services built around their use.
▪️Participants of crypto conferences are now advised not to use images and symbols referring to cryptocurrencies or exchange services in their promotional materials, and speakers are not allowed to directly promote products related to cryptocurrency circulation.
▪️If advertisers do not want to attract unnecessary attention, they can, at their own discretion, ban the advertisement of objects not explicitly mentioned in the law.
▪️However, experts believe that the market will eventually adapt and find ways to circumvent the strict restrictions without formally violating them. Russian crypto services will have to operate more discreetly, without advertising and loud slogans. This will create more problems for new players in this sector.
In Russia, a law on cryptocurrency mining and circulation has come into effect, which, among other things, includes a ban on advertising cryptocurrencies and various services built around their use.
▪️Participants of crypto conferences are now advised not to use images and symbols referring to cryptocurrencies or exchange services in their promotional materials, and speakers are not allowed to directly promote products related to cryptocurrency circulation.
▪️If advertisers do not want to attract unnecessary attention, they can, at their own discretion, ban the advertisement of objects not explicitly mentioned in the law.
▪️However, experts believe that the market will eventually adapt and find ways to circumvent the strict restrictions without formally violating them. Russian crypto services will have to operate more discreetly, without advertising and loud slogans. This will create more problems for new players in this sector.
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Telegram
Web3 Pulse
🤑 #crypto #meme #tron
A platform for creating meme tokens called SunPump has been launched on the Tron blockchain.
The service is being touted as a competitor to Рumр_fun, a token generator on the Solana network.
A key drawback of such platforms is that…
A platform for creating meme tokens called SunPump has been launched on the Tron blockchain.
The service is being touted as a competitor to Рumр_fun, a token generator on the Solana network.
A key drawback of such platforms is that…
▪️The SunPump platform (yes, that one) has surpassed the famous PumpFun platform (yes, that one) in the number of meme coins created in a day (7,300 vs. 5,700 tokens). Traders are actively transitioning to Tron — Decrypt.
▪️Justin Sun predicts that within a 12-month horizon, the income of the TRON network could reach $3 billion and promises more significant announcements in the coming weeks.
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Tether will not launch its own blockchain.
The company's head, Paolo Ardoino, mentioned this in a comment to Bloomberg. According to him, as long as the necessary level of security and efficiency is ensured, it does not matter on which blockchain the USDT stablecoin operates.
Out of the 306 blockchain networks tracked by the Defillama service, the five largest account for 86% of total user assets (TVL).
Nearly half of the USDT supply is on the TRON blockchain (TRC-20 standard).
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Forwarded from All About TON
Notably, even after the official notice from the wallet, people continued to send coins to the "secure account."
Wallet announced that it would reimburse all affected users.
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Twitter has disabled displaying posts with the hashtag #telegram.
The API response returns:
BadRequest: Query is denylisted in Search Content Control tool.
Check here: x.com/search?q=%23Telegram&src=trend_click&vertical=trends
The API response returns:
BadRequest: Query is denylisted in Search Content Control tool.
Check here: x.com/search?q=%23Telegram&src=trend_click&vertical=trends
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Elon Musk reacted to Pavel Durov's detention:
▪️ Posted the hashtag #FreePavel
▪️ Wrote: "Europe. The year is 2030. You get executed for liking a meme."
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Vitalik Buterin (#ETH) criticized Pavel Durov's arrest.
Experts remind about the risks of investing in "centralized" crypto projects, whose founders can be subjected to persecution and arrests.
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The founder of Dogecoin (#DOGE), Shibetoshi Nakamoto: "France is a stupid country."
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X (formerly Twitter)
H.E. Justin Sun 孙宇晨(hiring) (@justinsuntron) on X
We should show the cryptocurrency industry's unity by organizing a #FreePavel DAO to help Telegram founder Pavel Durov legally gain freedom. I'll donate $1 million if it's created in a decentralized way with enough community support. @elonmusk @MarioNawfal
Justin Sun proposed to demonstrate unity within the crypto industry by organizing FreePavel DAO to help Durov legally regain his freedom.
He also stated that he would donate $1 million to this DAO if it is created and supported by the crypto community.
Additionally, he reached out to Musk (who, in turn, did not rule out taking measures against X in light of Durov's detention in France).
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Le Parisien
Arrestation de Pavel Durov : vague de cyberattaques et réactions publiques en soutien au patron de Telegram
Visé par une information judiciaire en France, le fondateur et PDG de Telegram peut compter sur le soutien de groupes de hackeurs prorusses.
French websites, including government ones, have been hit by a wave of DDoS attacks following the detention of Durov; the attacks were essentially carried out by pro-Russian groups — LeParisien
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