Crypto users react to Terraform Labs legal team purportedly leaving company

The ongoing saga with Terraform Labs, the blockchain developer behind Terra (LUNA), took a turn following a supposed change in employment status for many on the firm’s legal team. According to their LinkedIn profiles, Terraform Labs general counsel Marc Goldich, chief litigation and regulatory counsel Noah Axler and chief corporate counsel Lawrence Florio have all stopped working for the blockchain firm as of May 2022. Goldich started at Terraform Labs in August 2021 while Axler and Florio joined in January 2022. The change in employment status for three members of…

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Crypto.com unblocks users, reverses glitched LUNA trades that made 30-40x

Crypto.com was one of the few crypto exchanges to keep LUNA trades open as Terra’s death spiral saw an unrecoverable price crash of LUNA and stablecoin UST. However, a technical glitch on Crypto.com’s mobile application allowed users to get away with a 30-40x profit on LUNA trades momentarily. On Friday, Crypto.com abruptly barred users from trading after an internal tool detected the system quoting incorrect prices for LUNA due to some error. Just when Crypto Twitter started raising concerns about trade reversals on the exchange, Kris Marszalek, CEO of Crypto.com,…

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5 state regulators allege organization is tied to Russia, scamming users using metaverse casino

Authorities in the U.S. states of Alabama, Kentucky, New Jersey, Texas and Wisconsin have filed enforcement actions against the Flamingo Casino Club for allegedly perpetrating a scam through nonfungible tokens (NFTs) tied to a metaverse casino. In a Wednesday announcement, the Alabama Securities Commission, Kentucky Department of Financial Institutions, New Jersey Bureau of Securities, Texas State Securities Board and Wisconsin Department of Financial Institutions alleged the Flamingo Casino Club has been “fraudulently soliciting NFTs” it claims are tied to ownership rights of a casino in the metaverse, thereby giving token…

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OpenSea Discord server hacked, users warned to be vigilant of phishing scams

Nonfungible token (NFT) marketplace OpenSea suffered a server breach on its main Discord channel, with hackers posting fake “Youtube partnership” announcements. A screenshot shared Friday shows fake collaboration news, accompanied by a link to a phishing site. OpenSea Support’s official Twitter account tweeted that the marketplace’s Discord server was breached Friday morning and warned users not to click the channel. Do not click links in our Discord. We are continuing to investigate this situation and will share information as we have it. https://t.co/jgtHcXifer — OpenSea Support (@opensea_support) May 6, 2022 The…

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Telegram Wallet Bot enables users to send crypto in-app via revived blockchain project

As told via a Twitter post on Tuesday, instant messaging app Telegram has rolled out crypto payments via Ton Token. To access the feature, users first need to download and install Telegram’s official Wallet bot, which allows them to purchase cryptocurrency by bank card, exchange and transfer to other wallets. According to the company, they can then send Bitcoin (BTC) or Toncoin to other users by clicking on the “Wallet” icon in direct messages.  You can now send #Toncoin directly within Telegram chats! It’s a new way to send Toncoin…

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Stepn impersonators stealing users’ seed phrases, warn security experts

Peckshield, a prominent blockchain security firm, has today exposed that there are numerous phishing websites for the Web3 lifestyle app Stepn. Hackers insert a forged MetaMask browser plugin through which they can steal seed phrases from unsuspecting Stepn users, according to Peckshield. When these cybercriminals obtain the seed phrase, they gain complete control over the Stepn user’s dashboard, where they may connect their stolen wallets to their own or “claim” a giveaway as per Peckshield. #PeckShieldAlert #phishing PeckShield has detected a bath of @Stepnofficial phishing sites. They insert a false…

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MetaMask warns Apple users over iCloud phishing attacks

ConsenSys-owned crypto wallet provider MetaMask has sent out a warning to the community regarding Apple iCloud phishing attacks. The security issue for iPhone, Mac, and iPad users is related to default device settings which see a user’s seed phrase or “password-encrypted MetaMask vault” stored on the iCloud if the user has enabled automatic backups for their app data. In a Twitter thread posted on April 18, MetaMask noted that users run the risk of losing their funds if their Apple password “isn’t strong enough” and an attacker is able to phish…

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Bitstamp asks users to update the source of their crypto, citing regulatory compliance

Major global cryptocurrency exchange Bitstamp continues increasing compliance efforts by requesting its users to provide more data like their source of wealth. In an email notification to users on Wednesday, Bitstamp informed its customers about the ongoing policy upgrades on the platform, with the exchange seeking additional info about its clients, one Bitstamp user told Cointelegraph. The email reads: “We work closely with our regulatory partners to ensure we continue to be your trusted exchange. Towards this, we need your account information to be updated, to provide you with the…

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Users could have lost all their NFTs

The research arm of cyber security software firm Check Point said it identified a vulnerability in the Rarible NFT marketplace that could have seen many of its roughly two million active monthly users lose their NFTs in a single transaction. Check Point is a multinational IT security firm that was founded in Ramat Gan, Israel in 1993 and also claimed to have spotted issues relating to malicious airdrops on OpenSea back in October 2021. According to documents shared with Cointelegraph, Check Point Research (CPR) recently discovered that malicious actors could…

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New crypto card by Nexo allows users to pay without selling Bitcoin

Major cryptocurrency loan company Nexo has officially launched a crypto-backed Mastercard card enabling users to pay for services with cryptocurrencies like Bitcoin (BTC) without selling their crypto. Nexo has partnered with Mastercard and the peer-to-peer payment startup DiPocket to launch the Nexo Card, a crypto card allowing cardholders to use their crypto as collateral rather than selling it, the firm announced to Cointelegraph on Wednesday. The card is linked to a Nexo-provided, crypto-backed credit line allowing to use of multiple assets as collateral, including but not limited to Bitcoin, Ether…

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