crypto / 62 posts found
8,000 Solana Wallets Attacked in a Multimillion Dollar Hack
Late Tuesday evening, scores of Solana suddenly found their crypto wallets completely drained of their digital contents. Unidentified hackers had broken into thousands of hot wallets — software-based crypto wallets that require an active connection to the internet — and arranged for the transfer of all funds in these wallets to an unknown third party. Solana initially confirmed the hack in a Tuesday night tweet, saying: “Engineers from multiple ecosystems, with the help of several security firms, are investigating drained wallets on Solana. There is no evidence hardware wallets are impacted.” Then Solana made a follow-up tweet early Wednesday morning, […]
A Company Says It Created Soulbound Tokens
A world with Soulbound Tokens (SBTs) may not be so far off after all. In a recent announcement from Web3 development platform Idexo, the company stated that it recently added SBTs into its Software Development Kit (SDK). Effectively, this would grant any and all developers using the platform the ability to create SBTs, as well as the option to host these reputation tokens on several different blockchains, with more options currently in the works. So far, developers will be able to create SBTs on Avalanche, BNBChain, Fantom, Polygon, and (of course) Ethereum. The best part? Idexo says it is prioritizing […]
NFTL;DR | NFTs vs Crypto Explained in Under 400 Words
If you’re having trouble understanding the difference between cryptocurrency and NFTs, we’ve got you covered with our NFTs vs. crypto guide. But if you need an even shorter explanation, you’re in the right place. We’ve created a bite-sized explainer on what they are, how they interact, and their main differences. Let’s dive right in. What is Crypto? Cryptocurrencies are blockchain-based digital currencies secured via cryptography. Because they’re so highly protected, they’re nearly impossible to counterfeit or double-spend. Bitcoin (BTC) and Ethereum (ETH) are the most well-known cryptocurrencies out there, but thousands exist. Anyone can buy and sell cryptocurrencies on decentralized […]
Former Coinbase Manager Was Just Charged With Crypto Insider Trading
The year of crypto enforcement continues. Not two months after the FBI arrested a former OpenSea employee on charges of insider trading, the U.S. Department of Justice has released a statement explaining its decision to charge Ishan Wahi, Coinbase’s former product manager, with wire fraud conspiracy and wire fraud in connection with a scheme to commit insider trading. Wahi allegedly used confidential Coinbase information regarding crypto assets that were scheduled to be listed on the platform’s exchanges. The DOJ arrested Ishan and his brother Nikhil Wahi, with whom Ishan is suspected of sharing the information, in Seattle, Washington this morning. […]
Exclusive: The IRS and SEC Eye Crypto and NFT Regulation
Will 2022 be the year of NFT regulation? With regulatory bodies and enforcement agencies in the U.S. paying close attention to the world of cryptocurrencies, digital assets, and the crimes committed within these spheres, it certainly looks like it might be. We’ve seen the FBI charge a former OpenSea employee with insider trading; the founders of the now infamous Frosties NFT project arrested for making off with $1.3 million in a rug pull; and Le Anh Tuan, founder of the doomed Baller Ape Club NFT project and community, charged with conspiracy to commit wire fraud, in addition to conspiracy to […]
Cryptocurrency and NFTs: What’s the Difference?
NFTs. Cryptocurrencies. Bitcoin. Ethereum. Web3. To someone who has never directly interacted with these things before, the crypto world can seem obtuse, opaque, and overtly strange. All of which is completely understandable. The advent of the blockchain and the technologies it supports represent a sea-change on par with the advent of the internet itself. And just as people reacted to the early days of the internet with a wide variety of emotions that included skepticism, excitement, and outright fear, blockchain-based technology is inspiring the same gamut in people today. The two biggest unknowns of the technology manifest in the form of […]
Fine Jewelry Maker Launches Non-Fungible Securities Platform
Crypto’s most recent bear market has people in the NFT space understandably a bit on edge, to put it mildly. But, while creators, investors, and project developers wrestle with these anxieties, those outside of the Web3 world are becoming even more skeptical of all things crypto-related. Even in the best of times, cryptocurrencies have held a reputation for being unstable. The advent of things like stablecoins — cryptocurrencies tied to an underlying asset like a national currency — have done their part in bringing some stability to some tokens some of the time, but the issue remains. One of the […]
The Art of the Airdrop: What to Know When It Comes to NFTs
First introduced during the ICO craze of 2017, an airdrop is a way to send newly minted tokens, often for free, to a large group of wallet addresses at the same time. Often used in the crypto world as a marketing lever for tokens, dApps, or NFT projects, airdrops are primarily distributed for three main reasons. to reward users for the early adoption of a project; to provide existing community members with additional value; and to raise awareness and encourage new users to test out a project. Most airdrops are distributed in one of two ways. They can either be […]
Soulbound Tokens (SBTs): Meet The Tokens That May Change Your Life
Vitalik Buterin, best known as one of the co-founders of Ethereum, has a massive new Web3 project in the works. In a white paper entitled “Decentralized Society: Finding Web3’s Soul,” Buterin and his fellow authors detail their vision for a future decentralized society (DeSoc) that thrives on Soulbound Tokens (SBTs). Here’s everything you need to know about the tokens that could change your life. What are Soulbound Tokens (SBTs)? Soulbound Tokens are NFTs that act like real-life achievement badges akin to what you’d get in a video game upon completing a certain task or clearing a milestone. But instead of […]
GameStop Just Created a Wallet For Crypto and NFTs
Earlier today, video game retailer GameStop launched the beta version of its very own Ethereum wallet. Users interested in participating in the beta can download the wallet from the Chrome Web Store, to be used as a Chrome or Brave browser extension. Upon downloading, users will be able to securely store and use cryptocurrencies across a wide range of decentralized applications without having to leave their Chrome tab. According to its website, mobile versions of the GameStop wallet will be available in the future as well. GameStop Another key feature of GameStop’s wallet is that it is non-custodial, meaning users […]