A blockchain linked to Binance, the world’s largest crypto exchange, has been hit by a $570 million hack, a Binance spokesperson said on Friday, the latest in a series of hacks to hit the crypto sector this year.
Binance CEO Changpeng Zhao said in a tweet that tokens were stolen from a blockchain “bridge” used in the BNB Chain, known until February as Binance Smart Chain.
Blockchain bridges are tools used to transfer cryptocurrencies between different applications. Criminals have increasingly targeted them, with some $2 billion stolen in 13 different hacks, mostly this year, researcher Chainalysis said in August.
The hackers stole around $100 million worth of crypto, Zhao said in his tweet. BNB Chain later said in a blog post that a total of 2 million of the BNB cryptocurrency – worth around $570 million – was withdrawn by the hacker.
The majority of the BNB remained in the hacker’s digital wallet address, while about $100 million worth was “unrecovered,” the Binance spokesperson said by email.
BNB Chain supports BNB, formerly known as Binance Coin, which is the world’s fifth-largest token with a market value of over $45 billion, according to data site CoinGecko.
Elliptic, a London-based crypto blockchain researcher, told Reuters that the hacker had minted 2 million new BNB tokens before transferring most of the funds to other cryptocurrencies including Tether and USD Coin.
BNB Chain suspended its blockchain for several hours before resuming at around 0630 GMT, it said in a tweet.
BNB Chain was “able to stop the incident from spreading” by contacting the blockchain’s “validators,” – entities or individuals who verify blockchain transactions, it said in its blog post. There are 44 validators across several different time zones, it added without elaborating.
BNB Chain, described by Binance as a “community-driven, open-sourced and decentralized ecosystem,” said it would introduce a new “governance mechanism” to counter future hacks, as well as expand the number of validators.
In March, hackers stole around $615 million from a blockchain bridge called Ronin Bridge, in one of the largest crypto heists on record, linked by the United States to North Korean hackers.
Willemstad, Curaçao, 6th October, 2022, Chainwire
Today, BC.GAME announces the launch of its newly redesigned website with more and better features for its players. This is one of the many efforts of BC.GAME in order to continue giving the best experience and satisfaction to its players around the world.
BC.GAME Introduces a Newly Redesigned Website
The main website showcases a new UI layout with a cleaner and slicker design compared to the old version. Players can also select different languages if they want to translate the descriptions written on the site. Languages such as Portuguese, Indonesian, Russian, Vietnamese, Korean, and Spanish are now available for players.
Recently, BC.GAME formed partnerships with two of the most recognized names in football and eSports—AFA and Cloud9. The new website features a dedicated page for sponsorships to keep the community updated about the latest events involving the casino’s partners.
Bold and Better Features for BC.GAME Players
As part of the new design, players will now be able to access helpful content—from game recommendations for each user, details of the game providers, and game descriptions.
Game interactions are now also available. Players can rate games, like, comment, share, and provide feedback on the games they play.
More security features are added, such as new additional Official Staff Verification page feature and an updated KYC feedback feature.
All players will have access to these bold and better features on the new BC.GAME website.
Chris, Chief Operating Officer at BC.GAME shares, “The iGaming industry moves fast. Keeping up with it is no small feat. As industry trailblazers, we pride ourselves on doing more than just staying ahead of the curve. Our goal is to create the curve. The only way to accomplish this is by keeping the communication channels with our community open. On behalf of the BC.GAME team, I would like to thank our loyal community for all the feedback and suggestions they have given by presenting this latest upgrade.”
About BC.GAME
BC.GAME is a community-based crypto casino that offers players the best online casino experience. Launched in 2017, BC.GAME is among the first casinos to support Lightning Network, not only revolutionizing the casino industry but also the blockchain space. With the recent addition of sports betting, users can enjoy more than 8,000 games, including sports, slots, live table games and even the famous Bitcoin (BTC) crash game. BC.GAME has won multiple industry awards, making it the Crypto Casino of the Year 2022. The platform accepts many leading cryptocurrencies and recently started accepting fiat payments.
Learn more: http://bc.game
Contact
PR
- Issay Domingo
- BC Game
- [email protected]
Celsius Network’s co-founder and chief strategy officer Daniel Leon has stepped down, the bankrupt crypto lender said on Tuesday, joining a wave of executive departures from beleaguered digital asset companies.
The announcement comes a week after chief executive officer Alex Mashinsky’s resignation. Leon’s departure was first reported by CNBC.
Hoboken, New Jersey-based Celsius filed for Chapter 11 bankruptcy in July, a month after freezing withdrawals citing extreme market conditions.
Lenders such as Celsius boomed in lockstep with the surge in popularity of major cryptocurrencies like Bitcoin, as they offered interest rates much higher than traditional banks and easy access to loans.
However, the collapse of digital tokens terraUSD and luna, coupled with a tough macroeconomic environment, tested their business model and eroded customers’ optimism.
Voyager Digital Ltd, another major U.S. crypto lender, also filed for bankruptcy in July.
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Groundbreaking memecoin project Tamadoge has been making waves this week, as the token’s price surged over 200% following several significant listings.
Crypto-hungry investors can now buy TAMA through leading centralized exchanges (CEXs) like OKX and BitMart, with the token also available on decentralized exchange (DEX) Uniswap.
All eyes will be on Tamadoge’s price in the coming weeks as this momentum shows no signs of slowing, generating much-needed returns for investors during the ongoing crypto winter.
Major exchange listings prompt huge price momentum
OKX was the first major CEX to list Tamadoge last week, allowing traders to benefit from the tremendous hype surrounding the project. According to CoinMarketCap, OKX has over 1.4 million weekly visitors and regularly handles more than $1.3 billion in daily trading volume, ensuring TAMA has a massive audience of potential investors. TAMA is also available on the OKX DEX.
The popularity of the OKX exchange has certainly helped Tamadoge grow, as the token’s price is up over 200% since it was listed last week, leading many to consider TAMA as one of the best cryptocurrencies to buy. Notably, presale investors have experienced gains of more than 700%, given the discounted price point that they could buy TAMA at.
Tamadoge’s OKX listing was swiftly followed by a listing on BitMart, another widely used CEX. The awareness raised by these listings, combined with the increased accessibility, has helped boost demand even further, leading to the triple-digit returns that investors are experiencing.
Although these returns are impressive, it seems like Tamadoge is just getting started. As noted on the Tamadoge Telegram group, the development team has also filed an application to be listed on Binance, the world’s largest cryptocurrency exchange.
Tamadoge’s team has also lined up listings on LBank and MEXC this week, with the token going live on Oct. 5. Not only do these listings boost accessibility even further, but they also help increase the token’s standing within the market, providing hope that a Binance listing could be a real possibility.
Why are investors buzzing about TAMA?
According to CoinGecko, the price of Tamadoge is hovering around the $0.0726 region at the time of writing, giving the token a market capitalization of over $75 million — highly impressive for such a new listing. But why is TAMA attracting so much attention?
For those unaware, Tamadoge’s presale phase sold out in mid-September, raising a remarkable $19 million in Tether (USDT$1.00) for the project. The presale was originally expected to end in Q4 2022, yet record-breaking demand from investors meant that the token allocation was gobbled up ahead of time.
Much of this demand is driven by Tamadoge’s revolutionary platform, which includes play-to-earn (P2E) mechanics integrated into an ecosystem with a memecoin aesthetic. Tamadoge looks to combine the appeal of these memecoins with valuable utility, a feat that hasn’t been accomplished in the market thus far.
Although the Tamadoge project is still in development, the development team has already noted some impressive plans for the future, including Tamadoge-themed arcade games and even an augmented-reality mobile app.
Tamadoge’s team has even announced its intention to integrate with various industry-leading metaverse projects, providing an immersive way for market participants to get involved with TAMA.
Tamadoge NFTs — A catalyst for further price momentum?
Another reason investors have been clamoring to acquire TAMA tokens is the upcoming release of Tamadoge nonfungible tokens (NFTs). These NFTs are vital for those looking to participate in Tamadoge’s ecosystem, as they will inform the stats and attributes of each user’s Tamadoge Pet.
Tamadoge Pets form the foundation of Tamadoge’s P2E mechanics, enabling players to battle against others to earn “Dogepoints” and climb the monthly leaderboard. Naturally, those users who own Tamadoge Pets with better attributes will have a higher chance of winning battles and obtaining Dogepoints.
This is where Tamadoge NFTs come in, as a total of 21,100 will be available to investors. The collection will be split into three distinct classifications: Ultra-Rare, Rare and Common, which inform their strength level.
Although the Common and Rare NFTs do not have a specific release date, early investors can get their hands on Tamadoge’s Ultra-Rare NFTs from Oct. 6. Only 100 of these NFTs will be minted, ensuring an air of exclusivity around this exciting drop.
The release of these NFTs, combined with the upcoming launch of Tamadoge’s player-versus-player battle mechanic, has helped the project surge into the limelight during a challenging period in the crypto market. Thanks to this, all eyes will be on TAMA in the coming weeks as demand for the token continues to ramp up.
- Website: https://tamadoge.io/
- Twitter: https://twitter.com/Tamadogecoin
- Telegram: https://t.me/TamadogeOfficial
- Discord: https://discord.com/invite/Z2PqFvsXJa
- Instagram: https://www.instagram.com/tamadogecoin/
The Middle East and North Africa are the world’s fastest-growing cryptocurrency markets, with the volume of crypto received in the region jumping 48% in the year to June, blockchain researcher Chainalysis said in a report on Wednesday.
While the MENA region is one of the smallest crypto markets, its growth to $566 billion received in cryptocurrency between July 2021 and June 2022 shows adoption is rising rapidly.
Latin America saw the second biggest growth in the same period, at 40%. North America was next at 36% growth, followed closely by Central and Southern Asia and Oceania at 35% growth, Chainalysis said.
Three MENA countries are among the top 30 in Chainalysis’ 2022 Global Crypto Adoption Index, with Turkey in 12th place, Egypt taking the 14th spot and Morocco 24th.
“In Turkey and Egypt, fluctuating cryptocurrency prices have coincided with rapid fiat (traditional) currency devaluations, strengthening the appeal of crypto for savings preservation,” Chainalysis said.
The Turkish lira has weakened nearly 30% this year to new record-lows, after losing 44% of its value last year amid a currency crisis triggered by rate cuts.
Turkey tops the MENA region in terms of value of crypto received by far, having received $192 billion worth of crypto in the year to end-June, though only saw 10.5% year-on-year growth.
Egypt’s currency has also lost about a quarter of its value against the dollar at the start of the year.
“Remittance payments account for about 8% of Egypt’s GDP, and the country’s national bank has already begun a project to build a crypto-based remittance corridor between Egypt and the UAE, where many Egyptian natives work,” Chainalysis said.
The six countries of the Gulf Cooperation Council “seldom make it to the top of our grassroots crypto adoption index, as it weighs countries by purchasing power parity per capita, which favours poorer nations,” Chainalysis said.
“Nevertheless, their role in the crypto ecosystem should not be underestimated. Saudi Arabia, for example, is the third-largest crypto market in all of MENA, and UAE is fifth.”
Afghanistan, which was 20th in Chainalysis’ adoption index last year, has tumbled to the bottom of the list as Taliban authorities have “equated crypto to gambling,” which is forbidden in Islam, Chainalysis said.
From November 2021 to now, Afghanistan-based users received less than $80,000 in crypto a month on average from $68 million a month on average before the Taliban’s takeover, Chainalysis said.
Dubai will transform into the ultimate digital epicenter of the world next month as the UAE hosts the world’s largest tech show, converging the most advanced companies and best minds to deep-dive into the making of the Web3 economy.
From Oct. 10 to 14, 2022 at the Dubai World Trade Center, Gitex Global returns for its largest-ever edition, featuring 5,000 companies spanning 26 halls and 2 million square feet of exhibition space. The size difference is an extraordinary 25% year-on-year increase, pushing its capacity limit at the venue.
The Gitex 3.0 edition in its 42nd year presents the most empowering curation ever with seven multi-tech themes experimenting in the Metaverse, a decentralized future of the internet, and a sustainable global digital economy. Gitex sets to wow with the year’s biggest and most immersive Metaverse experience across multiple sectors, from music, fashion and sports to lifestyle and business
Gitex Global 2022’s scale reflects digital ambitions of UAE and the region
The five-day event’s record size and continued expansion mirrors the ambitions of the UAE and region’s digital transformation movement, as government initiatives such as the National Program for Coders, the Dubai Metaverse Strategy and Next GenFDI propels the UAE to the forefront of the global digital economy.
This is amplified by Gitex Global 2022’s new launches of X-Verse sponsored by TMRW Foundation in collaboration with Decentraland — one of the world’s most immersive Metaverse journeys featuring 28 experiential brands — and Global DevSlam, the Middle East’s largest-ever coder and developer meetup, both of which sold out to a global audience within two months.
UAE companies also held the lion’s share of a record-breaking $2.6 billion in startup funding across the Middle East and North Africa in 2021, figures that underscore an additional hall and 30% increase to 1,000 exhibitors at Gitex Global’s startup event, North Star.
His Excellency Omar Al Olama, Minister of State for AI, Digital Economy and Remote Work Applications, who delivered the welcome note at the official Gitex Global 2022 press conference today, said: “Gitex this year is bigger than ever. It spans 2 million square feet with over 5,000 exhibitors from more than 90 countries, which makes this truly the biggest tech show in the world. This year, my office has partnered with Gitex to ensure that we’re not just showcasing technology, but actually inventing and developing technology.”
In his speech, Al Olama also highlighted that the Global DevSlam event is poised to be one of the biggest developer events in the world. He concluded by thanking each and every single person that has believed in the UAE’s mission and who has supported the UAE.
Global interest accelerates UAE and region as a rising tech hub of the world
Gitex Global 2022 will welcome an unprecedented 52% new exhibitors this year choosing the show and the UAE as the first-choice partner in their market access strategies.
The influx of global interest will see North Star hosting the biggest Unicorn meetup of the year in Dubai, with 35 Unicorns from 15 countries looking to explore new opportunities and expand in one of the world’s fastest-growing markets.
Influential UAE entities inspire R&D in transformative technologies
UAE companies are shaking up the global tech scene with their bold undertakings and commitments in tech R&D and inventions, including Technology Innovation Institute (TII) a leading global scientific institution and the applied research pillar of Abu Dhabi’s Advanced Technology Research Council. TII will have a significant presence at Gitex Global showcasing AI and Digital Science, Directed Energy and Autonomous Robotics Research.
Gitex also unifies the participation of 250 government entities leading strategic digital projects and public-private partnerships, with Digital Dubai Authority and Abu Dhabi Digital Authority among the UAE government bodies advancing smart city and digital projects.
More information is available on the website.
About Dubai World Trade Center
With a vision to make Dubai the world’s leading destination for all major exhibitions, conferences and events, DWTC has evolved from being the regional forerunner of the fast-growing MICE industry into a multi-dimensional business catalyst, focusing on venues, events and real estate management. Complementary to the primary service offerings are a range of value-added services from media/advertising, engineering and technical consultation and wedding planning, security services and hospitality.
The Financial Stability Oversight Council (FSOC), a U.S. regulatory panel comprising top financial regulators, on Monday recommended that Congress pass legislation addressing risks digital assets pose to the financial system, including bills to bolster oversight of crypto spot markets and stablecoins.
In a report following U.S. President Joe Biden’s executive order this year “on Ensuring Responsible Development of Digital Assets,” the panel identified three gaps in the regulation of cryptocurrencies: limited oversight of the spot market for tokens that are not securities; opportunities for regulatory arbitrage, or taking advantage of favorable rules; and whether crypto firms should be allowed to integrate multiple services traditionally provided by intermediaries, like broker-dealers and clearing houses.
The report was published after an FSOC meeting on Monday.
In a statement, Treasury Secretary Janet Yellen said the report “provides a strong foundation for policymakers as we work to mitigate the financial stability risks of digital assets while realizing the potential benefits of innovation.
Although FSOC has previously urged Congress to regulate issuers of stablecoins like banks, Monday’s report included several new recommendations for legislators, including that they create a federal framework for stablecoin issuers to address market integrity and consumer protection.
FSOC’s report follows a slate of others that were released last month in connection with the White House’s executive order. In September, the Biden administration published a series of reports recommending that U.S. government agencies double down on digital asset sector enforcement and identify holes in regulation.
It remains unclear when Congress might pass crypto-related legislation, although several bills have been introduced to address stablecoins and digital commodities regulation.
The FSOC report also suggested Congress pass a bill to provide rulemaking authority to federal financial regulators over the spot market for cryptocurrencies that are not securities, in order to address conflicts of interest and abusive trading practices.
Lawmakers should also consider legislation that gives regulators authority to supervise activities of crypto firms’ affiliates and subsidiaries, which FSOC said could address regulatory arbitrage, the report said.
Cheelee is a short video platform with Watch&Earn mechanics that pays all users for viewing the feed. To get rewarded for watching the app’s smart feed, users will need a pair of nonfungible token (NFT) glasses.
The fundamental difference between Cheelee and other projects (move-to-earn or play-to-earn) is its focus on the social media market audience of 4.6 billion people rather than a limited crypto audience. Cheelee plans to attract the first billion people within four years, providing a growing monthly inflow of users.
The stability of Cheelee’s financial system is additionally secured by non-NFT-related income sources, including advertisements, in-game purchases and brand collaborations. These account for 30% of the total revenue, while in alternative projects, they only make up 1%. In addition, Cheelee will be directing 70% of advertisement revenue, in-app purchases and 100% of revenue from NFT sales and in-app transactions to the Stability Fund.
Another important advantage of the project is that users can earn by using Cheelee without having to make any investments at the beginning. Once the user registers their Web3 wallet in the application, they will receive a case containing Starting NFT Glasses. To earn more, users can upgrade their Starting NFT Glasses or buy new — even Rare —NFT glasses.
Rare NFT glasses, which generate more tokens than the Starting ones, can already be purchased. Starting on Oct. 24, the project’s team is giving away 500 pairs of Rare NFT glasses in cases. To participate in the giveaway, follow the link and complete the task. The results will be announced on Nov. 25 on the project’s social media accounts.
Learn more about the project on official Cheelee resources:
- Website: https://cheelee.io/
- Twitter: https://twitter.com/Cheelee_Tweet
- Discord: https://discord.gg/cheelee
The blockchain and nonfungible token (NFT)-focused video game studio Vulcan Forged has secured $8 million in Series A funding led by SkyBridge Capital. The venture capital fund has the option to invest an additional $33 million.
The funding is aimed at accelerating the growth of Vulcan Forged “Metascapes,” a play-to-earn immersive metaverse game that allows users to build their land in the metaverse and store that data in nonfungible tokens. In addition, the funding will be used to grow Vulcan’s operations in North America and other markets. Currently, Vulcan Forged has about 15 games and decentralized applications (DApps), with about 200,000 users.
The gaming studio pushed out several Web3 games in the recent past, some of them being Berserk, Forge Arena and VulcanVerse. However, they’re currently heavily concentrated on MetaScapes, which allows users to design and build their own metaverse spaces and store the data in NFTs.
Jamie Thomson, founder and CEO of Vulcan Forged, says their product saw rapid organic growth over the last two years, and their headcount grew to over 130 people from just two workers. During this time, MetaScapes acquired over 200,000 users across 15 games. Thomson said:
“As we look to expand into new markets like North America and open our office in New York City, we believe that now is the perfect time to capitalize on our momentum with a strategic investment from Anthony Scaramucci and his team at SkyBridge Capital.”
Anthony Scaramucci, founder and managing partner at SkyBridge Capital, also commented:
“Jamie is a brilliant entrepreneur and has impressed me as he bootstrapped Vulcan Forged from a small startup to a top 10 metaverse project in the last two years, with a strong commitment to their growing community.”
“Vulcan Forged and their MetaScapes engine are well-positioned to completely disrupt the legacy gaming and entertainment industries and we are excited to help take them to the next level.”
The studio’s main goal with this product is to compete with Mojang’s Minecraft in the long run.
To learn more about this project, please visit its website.
Kim Kardashian has promoted everything from appetite-suppressing lollipops to melon-flavored liqueur to toilet paper, but it was her foray into the murky world of cryptocurrencies that got her into hot water.
The reality television star and influencer has agreed to settle charges of unlawfully touting a crypto security and to pay $1.26 million in penalties and fees, the U.S. Securities and Exchange Commission said on Monday.
Kardashian, who has 330 million followers on Instagram and 73.7 million followers on Twitter, failed to disclose that she was paid $250,000 by crypto company EthereumMax to publish an Instagram post about its EMAX tokens, the SEC said.
The SEC in November 2017 warned celebrities looking to cash in on the emerging digital asset space that U.S. rules require they disclose when they are being paid to endorse crypto tokens.
Since then it has pursued a handful of other celebrities, including action film star Steven Seagal, music producer “DJ Khaled” and boxer Floyd Mayweather Jr. for breaking that rule, but Kardashian is arguably the most high profile. read more
Her post contained a link to the EthereumMax website, which provided instructions for potential investors to purchase EMAX tokens. “Sharing what my friends just told me about the EthereumMax token!” the post read.
Under U.S. law, people who tout a certain stock or crypto security need to disclose not only that they are getting paid to do so, but also the amount, the source and the nature of those payments, SEC Chair Gary Gensler said on Monday.
“This was really to protect the investing public – when somebody is touting that stock and whether that’s a celebrity or an influencer or the like, and that’s at the core of what this is about,” Gensler said in an interview with CNBC.
“I want to acknowledge Miss Kardashian cooperating and ongoing cooperation. We really appreciate that,” Gensler added.
Kardashian has agreed to pay the charge without admitting or denying the SEC’s findings. Her lawyer Michael Rhodes said Kardashian was pleased to have resolved the case.
“She wanted to get this matter behind her to avoid a protracted dispute. The agreement she reached with the SEC allows her to do that so that she can move forward with her many different business pursuits,” Rhodes said in a statement.
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