Nigeria aims for millions of new eNaira users as it increases features, targets unbanked

The eNaira, Nigeria’s central bank digital currency (CBDC), will enter the second phase of its expansion with new technology to beef up its user base, Nigerian Central Bank governor Godwin Emefiele said Thursday, speaking at the 2022 eNaira Hackathon in Abuja. The eNaira, Africa’s first CBDC, was launched in October 2021. “The eNaira is a journey, not a one-time event,” Emefiele said, adding: “We don’t have a choice but to live with the fact that we are now in a digital economy, in a digital space, where the user[s] of…

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Lightning Network payment rail, DeFi trading platform and blockchain security firm raise millions

Even with the onset of crypto winter, 2022 has been a watershed year for venture capital funding. Crypto and blockchain companies collectively raised $30.3 billion in venture capital in the first half of 2022, exceeding all of last year’s totals. While the number of deals has declined in recent months, startups at the intersection of blockchain payments, decentralized finance (DeFi) and cybersecurity are still attracting sizable interest from the VC community. The latest edition of VC Roundup highlights some of the most intriguing funding deals of the past month. Related: The risks…

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Solana and Nomad bridge fall prey to exploits losing millions

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. This past week, the DeFi ecosystem saw two exploits one after another resulting in the loss of millions of dollars. First, cross-bridge token platform Nomad became a victim of what many deemed a decentralized robbery that saw almost $190 million drained out of their wallets. Solana ecosystem became the victim of a widespread unknown attack that saw thousands of wallets getting drained out of…

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Ongoing Solana-based wallet hack has already seen millions drained

A security vulnerability impacting the Solana ecosystem has reportedly seen millions in funds drained across a number of Solana-based wallets. At the time of writing, Solana (SOL) is currently trending on Twitter as countless users are either reporting on the hack as it unfolds, or are reporting to have lost funds themselves, warning anyone with Solana-based hot wallets such as Phantom and Slope wallets to move their funds into cold wallets. IMPORTANT- please retweet and tag @phantom and @solana 1. Many users are claiming they are getting notifications that they…

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White hat hacker attempts to recover ‘millions’ in lost Bitcoin, finds only $105

Joe Grand, a computer engineer and hardware hacker known by many for recovering crypto from hard-to-reach places, spent hours breaking into a phone only to find a fraction of a Bitcoin. In a YouTube video released on Thursday, Grand traveled from Portland to Seattle in an effort to potentially recover “millions of dollars” in Bitcoin (BTC) from a Samsung Galaxy SIII phone owned by Lavar Sanders, a local bus operator. Sanders originally purchased the BTC in July 2016 in a “super sketchy” way, paying a person at a cafe and…

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Three Arrows Capital (3AC) Liquidated for Millions as It Fails to Meet Margin Calls

The latest development around venture firm Three Arrows Capital (3AC) is that it has reportedly failed to meet margin calls from lenders. This has once again brought up the potential risk of the firm going into insolvency after it was severely hit by the crypto market meltdown earlier in the week. The report also cited that BlockFi, a crypto lender, was one of several companies that liquidated some of Three Arrows Capital’s positions. The speculations surrounding the company continue to gather momentum after several sources revealed that the company is…

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NFT holders can earn millions through IP rights, says Apocalyptic Apes founder

While the most common way to earn money in the nonfungible token (NFT) space is by flipping the tokens for profit, there are other opportunities to earn money with NFTs as the market continues to develop.  In a Cointelegraph interview, Bill Starkov, the founder of Apocalyptic Apes and a Bored Ape Yacht Club (BAYC) member, talked about how NFT holders can license the intellectual property (IP) rights of the tokens. Citing BAYC as an example, Starkov noted that “holders can generate thousands of dollars by licensing out their apes for…

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‘Pig slaughtering’ crypto scams reap millions on Silicon Valley dating apps

Lonely hearts in Silicon Valley are reportedly falling prey to a wave of “pig slaughtering” crypto scams via dating apps. An investigator for cybersecurity company Sift found that one in 20 people who approached her on dating apps in San Francisco was working the scam. Pig slaughtering, or butchering, is a type of scam in which an individual/group puts in weeks or months of work to build a fake relationship with the victim, metaphorically fattening them up. The end goal is to get the victim to invest in crypto via…

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