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2024-05-10

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Read more: FTX Collapse Explained: How SBF’s Empire Fell Regulatory challenges make a cryptocurrencyOnchain Analysis Also, users can secure their bitcoins with public and private keys in various crypto wallets. A public key is similar to the bank account number you have, while the private key is needed to authorize any BTC transaction you will conduct.

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Starting with Singapore, OK Group plans to sequentially rebrand “Okcoin” to “OKX” in Europe and the United States over the next few months, Fang said. The exec assured that customers will receive the “same set of product services under the same regulatory framework” and will interact with a new brand. According to the latest Bitcoin Volatility Index figures, the asset’s 30-day estimate has dropped to levels not seen since March 2019 to 0.57%. The index quantifies the daily variation in bitcoin’s price compared to its initial value. Bitcoin (BTC) price prediction 2023-2040IMF Warns Continuing Inflation And Weaker Economic Growth Proof of Play, a company led by Farmville co-creator Amitt Mahajan, raised $33 million to create Web3 games, according to a Sept. 21 announcement. Majahan is the CEO of Proof of Play, and Twitch co-founder Emmett Shear is a board member.

Source: PexelsThe team behind the decentralized social media platform Friend.tech has responded to a series of SIM-swap attacks targeting its users by implementing a crucial security enhancement. In a recent announcement on X (formerly Twitter), Friend.tech unveiled the introduction of a Two-Factor Authentication (2FA) password feature. This move aims to provide additional protection for users whose cell carriers or email services have been compromised.Friend.tech Users Will Have an Option to Setup Additional PasswordWith the new 2FA feature, Friend.tech users will now be prompted to set up an additional password when signing in on new devices. Importantly, neither the Friend.tech team nor the Privy teams will have the capability to reset these passwords, underlining the need for users to exercise caution when using this feature.The decision to bolster security comes in the wake of a string of SIM-swap attacks that have plagued Friend.tech users since September. The attacks have raised concerns and drawn criticism from some quarters regarding the platform's initial response.Slow Mist founder Yu Xian tested the 2FA mechanism and shared his experience on Twitter. Friend.tech Users Face SIM Swap AttacksThe SIM-swap attacks have culminated in the theft of an estimated 109 Ether (ETH), valued at nearly $500,000 in just few days, with one hacker stealing nearly $400k from different Friend.tech users. To mitigate the risk of SIM-swap exploits, Friend.tech had already introduced security updates on October 4, allowing users to add or remove various login methods.Despite some criticism over the timing of the 2FA implementation, many users welcomed the added layer of security. Blockworks founder Jason Yanowitz shed light on the modus operandi of the SIM-swap attacks. Attackers send text messages requesting a number change, with users required to respond with either "YES" or "NO." If the response is "NO," the user is sent a legitimate verification code from Friend.tech and is prompted to send the code to the scammer's number. Failure to respond within two hours results in the requested change proceeding, potentially leading to account compromise.Earlier today, head of Defiant News revealed that he saw his Friend.tech wallet drained in an elaborate phishing scam.Tornado Cash Processed Over $77 Million in Past 30 Days: Arkham You might also like: BitKeep assures victims of hack they will be paidReserve expands stablecoin protocol to Coinbase's Base network Survey: Malaysians Warm Up to Cryptocurrencies, Bitcoin Still on TopDo you have anything to say about CrypToadz NFT or anything else? Write to us or join the discussion on our Telegram channel. You can also catch us on TikTok, Facebook, or X (Twitter). Segment observers speculated the earlier-than-expected disclosures were also due to the looming shutdown, which Gary Gensler said during a Wednesday hearing would leave the commission with a “skeletal” staff.

Just like Foundry USA, AntPool demands proper identification (KYC) of all Bitcoin miners plugging their machines in this mining cooperative. In this context, more registered mining companies could now choose to migrate their hashpower to BitMain’s pool, looking for a higher chance of block discovery.Cloud Mining: What You Need to Know Argo Blockchain's September performance was bolstered by a reduction in power costs, thanks to accrued power credits from economic curtailment. These credits have reduced the company's electricity expenses and improved its mining margins and cash flow. The increase in BTC mined is primarily attributed to fewer curtailment hours at the company's Helios facility. Is the Crypto Market Bouncing Back? Here's What You ...Bitcoin Price Increase Stalls at $28,000 Source: iStock/JuSunFriend.tech has suffered from a major privacy breach that has led to the unauthorized disclosure of sensitive information pertaining to more than 101,000 individuals.Banteg, a core contributor to popular DeFi project Yearn Finance, has published a repository of publicly available scraped data on GitHub, revealing critical details of over 101,000 users on the Friend.tech platform.The exposed information includes wallet addresses on Base and corresponding Twitter usernames. “101,183 people have given friend.tech access to post as them, leaked db (database) indicates,” Banteg said in a Monday tweet. However, the privacy breach doesn't stop there. Banteg also highlighted a concerning situation regarding Friend.tech's permissions. It appears that these users may have granted Friend.tech the ability to post on their behalf, possibly without fully comprehending the extent of the permissions granted or giving their explicit consent.The breach came to light when Spot On Chain analysts discovered that Friend.tech's API had inadvertently "leaked" information. They revealed that through the API, it was possible to view wallets created by users, with associated Twitter usernames. Launched as a beta version on August 11, Friend.tech allows users to tokenize their social networks by purchasing and selling "shares" of their connections. Friend.tech applies a 5% fee on transactions, with the owner profiting from the trade spread. The project is built on Coinbase's layer-2 network Base.Friend.tech Says the Information Was Already PublicFriend.tech responded to the incident by trying to downplay the severity of the breach. They claimed that the information was publicly available through their API, implying that scraping it is similar to looking at someone's public Twitter feed."This is just someone scraping our public API that shows the association between public wallet addresses and public Twitter usernames," they said in a recent tweet. The privacy concerns surrounding Friend.tech comes as the platform has gained significant traction recently, attracting high-profile signups and accumulating protocol fees exceeding $1.42 million in the last 24 hours. This impressive growth has positioned Friend.tech among the top three crypto projects in terms of user-paid fees.The driving force behind this project is believed to be a developer operating under the pseudonym Racer. Racer has previously designed social media networks such as TweetDAO and Stealcam, both of which were based on non-fungible tokens (NFTs). With Friend.tech, Racer aims to attract crypto influencers with substantial fan bases, providing them the opportunity to earn royalties from trading fees. Additionally, the platform is also seeking to strengthen relationships between Web3 projects, venture capitalists, and important figures in the crypto industry.Decentralized Social Network Friend.tech Surpasses $1 Million in 24-Hour Fees, Leaving Uniswap and Bitcoin Behind

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