Autor Cointelegraph By Arijit Sarkar

Vitalik Buterin impersonators ramp up ETH phishing ahead of The Merge

Vitalik Buterin impersonators ramp up ETH phishing ahead of The Merge

Uverejnil používateľ | sep 13, 2022 |

The hype around The Merge has attracted a swarm of scammers that are actively using verified Twitter accounts to impersonate Ethereum co-founder Vitalik Buterin and dupe investors.Prominent entrepreneurs, including the world’s richest man Elon Musk, pointed out numerous times the biggest problem of Twitter — bots. However, scammers have evidently amped up efforts to go unnoticed of their ill intentions by using verified profiles.Fake and verified Vitalik Buterin impersonators carrying out phishing attacks. Source: TwitterCointelegraph identified over six verified Twitter accounts that currently replicate Buterin’s profile picture, name and profile description. The accounts have been actively promoting fake Ether (ETH) giveaways and misleading investors into getting access to their crypto wallets.The easiest way to identify the fakes is by paying attention to the Twitter handle, also known as the username of the profiles. Recently, fake Twitter profiles impersonating Binance CEO Changpeng Zhao have increased, forcing Musk to publicly call out the problem, as shown below.And 90% of my comments are bots pic.twitter.com/A7RKyNJZoR— Elon Musk (@elonmusk) September 5, 2022Occasionally, scammers have also been found to impersonate Ethereum Foundation — trying to gain credibility among the masses. Especially during bull runs and significant events like network upgrades, bad actors find it easy to dupe investors that are typically unaware of scams amid hypes.This article comes as a warning to crypto investors to help them avoid falling for targetted scams and attacks that threaten to drain funds.Related: Ethereum ready for The Merge as last shadow fork completes successfullyEqually excited for The Merge, Google added a countdown timer displaying the time remaining for the Ethereum blockchain to transition from proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism. Cointelegraph previously reported on recent Google search data, which revealed that searches for the term “Ethereum Merge” generated a score above 50 several times over the last 30 days, reaching a peak of 100 on Sept. 3.

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Fireblocks records $100M+ revenue in subscriptions amid bear market

Fireblocks records $100M+ revenue in subscriptions amid bear market

Uverejnil používateľ | sep 12, 2022 |

Fireblocks, a New York-based blockchain security service provider, made over $100 million in Annual Recurring Revenue (ARR) this year, confirming the rising interest in the crypto ecosystem that contradicts negative investor sentiments.ARR relates to the recurring revenue earned by a company based on subscriptions. As a software-as-a-service provider, Fireblocks witnessed overwhelming interest in decentralized finance, blockchain and Web3 technologies. The reason behind increased revenue amid an ongoing bear market can be attributed to an overall change in mindset, as companies and investors seem more inclined toward exploring crypto use cases rather than chasing market volatility for a quick buck.Sharing insights into its growing customer base, Fireblocks co-founder and CEO Michael Shaulov stated:“We have seen first-hand the innovation happening among fintechs, Web3 start-ups, banks and payment service providers who are diligently bringing new digital asset products to market.”In addition, consumer brands, gaming companies, and crypto start-ups have contributed to Fireblocks’ $100 million revenue in 2022 as well. As crypto continues to seep into global financial infrastructure, Fireblocks expects to grow stronger as an enabler for businesses delivering secure crypto products.In its announcement, Fireblocks further disclosed working with industry leaders including BNP Paribas, Six Digital Exchange, ANZ Bank, FIS, Checkout.com, MoonPay, Animoca Brands, and Wirex.Speaking about the company’s future, Fireblocks CTO Idan Ofrat confirmed Fireblocks’ commitment to delivering solutions for emerging market entrants and use cases such as stablecoin issuance, nonfungible token (NFT) treasury management, and crypto payments.Related: BlockFi tops the Inc. 5000 list with almost 250,000% revenue growth in three yearsIn 2021, crypto exchange FTX witnessed a 1000% hike in its revenue as bulls took over the crypto market, as revealed by leaked internal documents. Audited financials for FY 2020-2021 showed that FTX’s revenue grew from $90 million in 2020 to $1.2 billion in 2021, according to CNBC. The report further claims that FTX possessed $2.5 billion in cash by the end of 2021 with a profit margin of 27%.However, a subsequent bear market coupled with regulatory hurdles is expected to bring down the impressive revenue numbers across the crypto ecosystem.

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Florida govt warns against auto warranty scammers asking crypto payments

Florida govt warns against auto warranty scammers asking crypto payments

Uverejnil používateľ | sep 11, 2022 |

The Florida Department of Agriculture and Consumer Services (FDACS) issued a warning sharing insights into identifying robocall scam marketing auto warranties, which includes being asked to pay for the services via gift cards and cryptocurrencies. Consumer complaints against increasing robocall scams — wherein scammers use prerecorded calls to market and sell fraudulent services — led the Enforcement Bureau to order phone companies to avoid carrying robocall traffic. Regardless of the methods used by scammers to contact potential victims, the FDACS newsletter highlighted five red flags that indicate scams. Five red flags for identifying scams. Source: fdacs.govStressing on some of the go-to payment methods often being recommended by the scammers, the announcement read:“Payment Type: If you are asked to pay with a gift card or cryptocurrency, it’s a scam.”In addition to asking Florida residents to refrain from making crypto payments, the FDACS reiterated that no government officials would ask for personal information, such as their Social Security or credit card numbers, adding that “Only scammers will require one of those kinds of payment, and once you send the money, you probably won’t get it back.”Although the newsletter mentioned the impossibility of tracking down crypto funds from hackers, numerous corporations, including Velodrome and Curve Finance, have successfully recovered stolen funds — thanks to the immutable nature of blockchain technology.Related: US lawmakers call on Mark Zuckerberg to address ‘breeding ground’ for crypto scams: ReportOn Sept. 5, United States congressman Brad Sherman — a well-known crypto skeptic — acknowledged the rapid growth of the crypto ecosystem, claiming that banning cryptocurrencies was no longer an option.Sherman stated that political donations and crypto lobbying make blanket banning cryptocurrencies impossible, adding that:“We didn’t ban it at the beginning because we didn’t realize it was important, and we didn’t ban it now because there’s too much money and power behind it.”Most lawmakers, including Sherman, favor implementing strict regulatory policies on crypto.

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SEC to address growing crypto issuer filings with specialized offices

SEC to address growing crypto issuer filings with specialized offices

Uverejnil používateľ | sep 11, 2022 |

In light of the influx of filings from cryptocurrency issuers in the United States, the Securities and Exchange Commission (SEC) decided to set up two new offices this fall to provide specialized support to the seven offices currently responsible for reviewing issuer filings. Under the Division of Corporation Finance’s Disclosure Review Program (DRP), the SEC announced plans to add two offices — an Office of Crypto Assets and an Office of Industrial Applications and Services — purely focused on dealing with crypto assets and industrial applications and services, respectively. Sharing insights into the move, Renee Jones, director of the Division of Corporation Finance, stated: “The creation of these new offices will enable the DRP to enhance its focus in the areas of crypto assets, financial institutions, life sciences, and industrial applications and services and facilitate our ability to meet our mission.”According to the announcement, the Office of Crypto Assets will take over DRP’s effort to review crypto filings, allowing the department to refocus its resources “to address the unique and evolving filing review issues related to crypto assets.”The Office of Industrial Applications and Services, on the other hand, will be set up to take over non-pharma, non-biotech, and non-medicinal products from the Office of Life Sciences.Related: Brazilian SEC seeks to change its role in cryptocurrency regulationA recent SEC filing revealed MicroStrategy’s intent to sell class A stocks worth $500,000,000 and reinvest the capital “for general corporate purposes, including the acquisition of Bitcoin (BTC).”Snippet from MicroStrategy’s SEC filing. Source: SEC.govMicroStrategy holds approximately 129,699 BTC, which was amassed over several years at an aggregate purchase price of $3.977 billion. With crypto prices failing to recover, the company’s BTC reserves stand as a loss of over $1 billion, as shown by Bitcoin Treasuries data.

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MicroStrategy to reinvest $500M stock sales into Bitcoin: SEC filing

MicroStrategy to reinvest $500M stock sales into Bitcoin: SEC filing

Uverejnil používateľ | sep 10, 2022 |

MicroStrategy, the largest institutional Bitcoin (BTC) buyer, entered an agreement with two agents — Cowen and Company and BTIG — to sell its aggregated class A common stock worth $500,000,000, reveals Securities and Exchange Commission (SEC) filing.MicroStrategy, co-founded by Bitcoin bull Michael Saylor, amassed approximately 129,699 BTC over several years at an aggregate purchase price of $3.977 billion. Despite market uncertainties, the business analytics software firm continues to pursue its goal of acquiring more BTC by selling company stocks. The filing confirmed:“We intend to use the net proceeds from the sale of any class A common stock offered under this prospectus for general corporate purposes, including the acquisition of bitcoin, unless otherwise indicated in the applicable prospectus supplement.”Buying the dip is essential for MicroStrategy as the company’s BTC reserve has dipped to an aggregated value of nearly $2.8 billion — resulting in a loss of over $1 billion, as shown by Bitcoin Treasuries data. Snippet from MicroStrategy’s SEC filing. Source: SEC.govCoincidently, on the day of the filing, data from Cointelegraph Markets Pro and TradingView showed BTC/USD price shooting up 11% to nearly $21,500.Related: Bitcoin could become a zero-emission network: ReportThe FBI, along with two other federal agencies, CISA and MS-ISAC, asked U.S. citizens to report information that helps track the whereabouts of the hackers. The citizens have been asked by the FBI to report on various information that would help them track down ransomware attackers, which include Bitcoin wallet information, ransom notes and IP addresses.Bad actors prefer fiat currency to conduct illicit activities over Bitcoin because the blockchain’s immutable nature allows authorities to track down crimes easily.

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