Autor Cointelegraph By Brian Quarmby

Couple sent $10.5M by Crypto.com claim they thought they won a prize

Couple sent $10.5M by Crypto.com claim they thought they won a prize

Uverejnil používateľ | okt 13, 2022 |

The Melbourne couple who mistakenly sent almost $6.6 million, or 10.5 million Australian dollars, on Crypto.com in 2021 is arguing in court that they thought the funds were won via a competition. Thevamanogari Manivel and her husband, Jatinder Singh, are currently facing a trial in the Victoria Supreme Court over theft charges, among others, after the duo allegedly went on a spending spree with Crypto.com’s funds last year.Appearing via video link in Melbourne magistrates court on Oct. 11, Manivel and Singh pleaded not guilty to their respective charges, with the defense being that Singh had thought he had won a contest from Crypto.com and had told his wife as such. The funds were initially sent to Manivel’s bank account in May 2021, with Crypto.com compliance officer Michi Chan Fores telling the court that the issue arose from an employee based in Bulgaria entering incorrect details into an Excel spreadsheet. The Crypto.com account itself belonged to Singh, but the funds went to his wife’s bank account, as he had been using her bank cards to purchase crypto. The firm did not realize its mistake until an audit occurred in December. Singh claims that he thought he had won the money as he had previously received a notification from the company regarding a competition. However, Fores denied the existence of such competition and outlined that Crypto.com did not send any notifications to tell users about competition winnings.Their charges slightly differ, as Manivel is charged with theft for withdrawing the funds from her Commonwealth bank account, negligently dealing with proceeds of crime and trying to flee the country.In March, Manivel was arrested at Melbourne airport, after it was alleged that she was trying to fly home to Malaysia with roughly 11,000 AUD. She was granted bail on strict conditions in the latest hearing, having to surrender her passport and being barred from attending any points of departure. Manivel’s lawyer argues that she was unaware of criminal charges being brought against her when trying to fly to Malaysia. Singh is primarily facing theft charges for withdrawing Crypto.com’s funds from the bank. Moving forward, Manivel and Singh are set for a directions hearing in the county court on Nov. 8. Spending spree A police officer told the court the funds were allegedly used to buy four houses, vehicles, gifts for relatives, art and some furniture, while 4 million AUD was also sent to a bank account in Malaysia. Related: French police use Twitter crypto sleuth’s research to catch scammersOne of their four houses included a 1.35 million AUD five bedroom property in Craigieburn, which the Victoria Supreme Court promptly ordered to be sold and the money returned to Crypto.com. 1.35 million AUD property: Nine NewsAs it stands, around $7 million has been paid back, with $3 million still to be accounted for. Civil action is reportedly underway to freeze properties and get the remaining funds back.

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French police use Crypto Twitter sleuth’s research to catch scammers

French police use Crypto Twitter sleuth’s research to catch scammers

Uverejnil používateľ | okt 13, 2022 |

French authorities have reportedly utilized research from pseudonymous blockchain sleuth ZachXBT to charge five people on suspicion of stealing $2.5 million worth of nonfungible tokens (NFTs) via phishing scams. According to an Oct. 12 report from the Agence France Presse (AFP) shared by Barron’s, the alleged fraudsters built a website that masqueraded as a service that animates the static artwork from people’s Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFTs. Unfortunately for the victims, they had their credentials swiped and their NFTs stolen via the phishing website instead. The five young suspects are said to be in their mid to late 20s and had allegedly conducted the scheme between late 2021 and early 2022. The charges against the five include fraud committed as part of a criminal gang, concealing fraud and criminal association. Two of the suspects are thought to be the ring leaders, and prosecutors have requested for them to be held in pre-trial detention. ZachXBT provides key infoChristophe Durand, the deputy chief of France’s national cyber unit, told the AFP that it got clued into the incident after observing an investigation from the self-proclaimed “on-chain sleuth” ZachXBT on Twitter. Durand explained that ZachXBT had launched an investigation in response to requests from “the community of owners of the Bored Ape Yacht Club series” that had their tokens swiped. Over on Twitter, ZachXBT noted that they were “very pleased” to see that French authorities had taken action against the alleged scammers. The sleuth was also happy to see their work was officially credited online, given that they are an independent investigator that is funded by community donations. Here’s the working link to my article that started it all!https://t.co/HkR0GLyaUU— ZachXBT (@zachxbt) October 12, 2022ZachXBT also linked back to their original Aug. 9 article that he said helped kick off the investigation. A key part of the research revolved around the alleged scammers’ use of Tornado Cash to mix and withdraw the funds. ZachXBT outlined that the mathys.eth address, in particular, left revealing breadcrumbs, as they often withdrew intervals of 10 Ether (ETH) that added up to the value the NFTs were sold for, around the time they were stolen:“While the scammer did make an attempt to hide their breadcrumb trail by depositing the stolen funds into Tornado Cash, they were not careful about covering their tracks when it came to withdrawing the funds from Tornado.”ZachXBT has posted a series of on-chain investigations focused on rug pulls, scams, hacks and pump and dumps, and has developed a strong Twitter following of 303,200 for their efforts. Related: Bored Ape creators and other NFT projects investigated by SEC probeAt the start of this month, ZachXBT launched an investigation into the $450,000 Beeple Discord hack to find the people responsible. Cointelegraph also reported on ZachXBTs recent research and allegations from Sept. 29 accusing Crypto influencer Lark Davis of shilling a series of “low cap projects” just to dump on “them shortly after.”18/ All my work is possible because of donations so if you like my investigative threads such as this one please consider donating to my ENS or sharing this thread! 0x9D727911B54C455B0071A7B682FcF4Bc444B5596zachxbt.eth Thanks to @beeple for making this sick 1 of 1. https://t.co/V8aAGFWFHX— ZachXBT (@zachxbt) October 4, 2022

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French police use Crypto Twitter sleuth’s research to catch scammers

French police use Crypto Twitter sleuth’s research to catch scammers

Uverejnil používateľ | okt 13, 2022 |

French authorities have reportedly utilized research from pseudonymous blockchain sleuth ZachXBT to charge five people on suspicion of stealing $2.5 million worth of nonfungible tokens (NFTs) via phishing scams. According to an Oct. 12 report from the Agence France Presse (AFP) shared by Barron’s, the alleged fraudsters built a website that masqueraded as a service that animates the static artwork from people’s Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFTs. Unfortunately for the victims, they had their credentials swiped and their NFTs stolen via the phishing website instead. The five young suspects are said to be in their mid to late 20s and had allegedly conducted the scheme between late 2021 and early 2022. The charges against the five include fraud committed as part of a criminal gang, concealing fraud and criminal association. Two of the suspects are thought to be the ring leaders, and prosecutors have requested for them to be held in pre-trial detention. ZachXBT provides key infoChristophe Durand, the deputy chief of France’s national cyber unit, told the AFP that it got clued into the incident after observing an investigation from the self-proclaimed “on-chain sleuth” ZachXBT on Twitter. Durand explained that ZachXBT had launched an investigation in response to requests from “the community of owners of the Bored Ape Yacht Club series” that had their tokens swiped. Over on Twitter, ZachXBT noted that they were “very pleased” to see that French authorities had taken action against the alleged scammers. The sleuth was also happy to see their work was officially credited online, given that they are an independent investigator that is funded by community donations. Here’s the working link to my article that started it all!https://t.co/HkR0GLyaUU— ZachXBT (@zachxbt) October 12, 2022ZachXBT also linked back to their original Aug. 9 article that he said helped kick off the investigation. A key part of the research revolved around the alleged scammers’ use of Tornado Cash to mix and withdraw the funds. ZachXBT outlined that the mathys.eth address, in particular, left revealing breadcrumbs, as they often withdrew intervals of 10 Ether (ETH) that added up to the value the NFTs were sold for, around the time they were stolen:“While the scammer did make an attempt to hide their breadcrumb trail by depositing the stolen funds into Tornado Cash, they were not careful about covering their tracks when it came to withdrawing the funds from Tornado.”ZachXBT has posted a series of on-chain investigations focused on rug pulls, scams, hacks and pump and dumps, and has developed a strong Twitter following of 303,200 for their efforts. Related: Bored Ape creators and other NFT projects investigated by SEC probeAt the start of this month, ZachXBT launched an investigation into the $450,000 Beeple Discord hack to find the people responsible. Cointelegraph also reported on ZachXBTs recent research and allegations from Sept. 29 accusing Crypto influencer Lark Davis of shilling a series of “low cap projects” just to dump on “them shortly after.”18/ All my work is possible because of donations so if you like my investigative threads such as this one please consider donating to my ENS or sharing this thread! 0x9D727911B54C455B0071A7B682FcF4Bc444B5596zachxbt.eth Thanks to @beeple for making this sick 1 of 1. https://t.co/V8aAGFWFHX— ZachXBT (@zachxbt) October 4, 2022

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It’s happened: Someone’s filed for Cramer ETFs with the SEC

It’s happened: Someone’s filed for Cramer ETFs with the SEC

Uverejnil používateľ | okt 6, 2022 |

Connecticut-based advisory firm Tuttle Capital Management has submitted a preliminary prospectus filing with the United States Securities and Exchange Commission (SEC) for two new exchange-traded funds (ETFs) centered around betting against the investment tips from Jim Cramer. Cramer is the host of CNBC’s Mad Money and has become a popular meme in the crypto and stock community, who believe he has an uncanny knack for giving investment tips that end up being way off the mark. In relation to crypto, one of Cramer’s most notable tips was to buy Coinbase stock when it was “cheap” at $248 in August last year. Since then, COIN has continued to collapse and sits at $72.97 at the time of writing. Finally happened: Cramer ETFsInverse Cramer ETF $SJIMLong Cramer ETF $LJIMEff Dec 1920-25 equal-weighted stocks/ETFs based on Cramer’s Twitter & TV recommendations and market views. Positions exited if Cramer has no view & once profit targets met.https://t.co/ZvA5G2zoTX pic.twitter.com/tY9yBMt15s— ETF Hearsay by Henry Jim (@ETFhearsay) October 5, 2022According to the Oct. 5 preliminary prospectus SEC filing, if approved, Tuttle Capital Management would launch a short ETF named Inverse Cramer ETF (SJIM) and a long ETF called Long Cramer ETF (LJIM). The company notes in the filing that the investment objective is to provide investment results “that are approximately the opposite of, before fees and expenses, the results of the investments recommended by television personality Jim Cramer.”To select the weighting of each ETF, Tuttle Capital Management will essentially take the opposite position of whatever Cramer publicly picks on CNBC or Twitter. However it will be purely stock-based and not crypto assets. “Under normal circumstances, at least 80% of the Fund’s investments is invested in the inverse of securities mentioned by Cramer,” the filing reads. Despite the apparent novelty and absurdity of the filing, Bloomberg’s senior ETF analyst Eric Balchunas was unsurprised by the move, highlighting on Twitter that he had tipped such a thing to occur back in February: “We actually wrote back in Feb about how an Inverse Cramer ETF would likely be filed at some point. Given some of the stuff that has been tried with ETFs this isn’t [a] big stretch. And ETFs tied to big personalities not unprecedented e.g. $SARK $TSLQ.”We actually wrote back in Feb about how an Inverse Cramer ETF would likely be filed at some point. Given some of the stuff that has been tried w ETFs this isnt big stretch. And ETFs tied to big personalities not unprecedented eg $SARK $TSLQ pic.twitter.com/Dsx5aYDmk8— Eric Balchunas (@EricBalchunas) October 5, 2022

Individual traders have already tried a similar method, with Cointelegraph reporting in August that Twitter-famous crypto trader AIgod had doubled his “Inverse Cramer” portfolio in a month to more than $100,000 purely through trading against Cramer’s tips. Tuttle Capital’s unique ETFsThis type of play is nothing new for Tuttle Capital Management. The firm previously caused a stir late last year by launching an inverse ETF on the Nasdaq stock exchange called the Turtle Capital Short Innovation ETF (SARK). Related: The bottom is in: CNBC’s Jim Cramer says crypto has ‘no real value’In what Tuttle Capital CEO Matt Tuttle described in November as something that has “has never been done before,” the purpose of SARK is to bet against the ARK Innovation ETF (ARKK) from Cathie Wood’s ARK Invest.“So if ARKK is down a percent, we’ll be up somewhere around a percent, and if [ARKK] is up a percent, we’ll be down somewhere around a percent,” he said. Notably, since its launch on Nov. 9, SARK is up 83.1%, according to Yahoo Finance data, which may be unsurprising considering the bearish investing climate in 2022.

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Nifty News: Yuga Labs launches BAYC council, Animoca backs Cool Cats and more…

Nifty News: Yuga Labs launches BAYC council, Animoca backs Cool Cats and more…

Uverejnil používateľ | okt 6, 2022 |

Yuga Labs has announced a new Bored Ape Yacht Club (BAYC) community council to help the project “grow and thrive.”The team revealed seven council members in an Oct. 5 blog post, noting that they are all OGs who have been around since the early days of the BAYC. Yuga Labs said it assembled a new community council made up of “Apes with a proven track record of proactively and positively contributing to the club since the start.” The members include, @beijingdou, @SeraStargirl, @TheMiamiApe, @OxEthanDG, @OxWave, @negithenagi, @peterjfang. “This council was formed with the intention of representing the club at large and providing an avenue for new perspectives,” Yuga Labs wrote. Yuga Labs stated that they will engage with the community and gather feedback for the firm, work with Yuga on community-driven initiatives such as commercial projects, meetups and charity work. “Every Ape in our community has directly impacted our decisions-making from day one. This council, and future councils to come, puts a more formal, efficient and consistent process in place for Yuga leadership to get community feedback and advice on an ongoing basis,” it wrote.Yuga Labs also teased that it could soon launch community councils for its other NFT projects including CryptoPunks, Meebits and the Otherside moving forward. Today, Yuga Labs welcomes the first BAYC community council that will assist us in shaping the future of the Bored Ape Yacht Club. For more details on the council head over to our official blog at https://t.co/MSD3M1QkfE— Yuga Labs (@yugalabs) October 5, 2022Animoca Brands partners with Cool Cats NFT venture fund giant Animoca Brands has made a strategic investment into blue chip NFT project Cool Cats to help the project expand into new avenues such as gaming. The Oct. 5 announcement from the duo states that the “partnership will drive Cool Cats’ mission to become the largest global NFT brand and a robust media and content company, including through expansion of its gaming offerings.” Cool Cats was launched in July 2021 and consists of 9,999 cartoon cat avatars. The project has generated $369.2 million worth of NFT sales volume to date as per CryptoSlam data. The latest announcement has also coincided with Cool Cats sales volume pumping 220% over the past 24 hours. The move also follows a partnership with Animoca Subsidiary GAMEE from Sept. 1, a virtual platform focused on connecting creators, brands and players in the GameFi space. 1/ .@animocabrands is excited to announce our partnership with @coolcatsnft one of the earliest, important and cutest #NFT metaverse first collections out there, to celebrate I picked up a few #CoolCats including this rare beauty #CoolCatsNFT #7807 a little pic.twitter.com/oYzRYHU4XC— Yat Siu (@ysiu) October 5, 2022

Solana NFT sales volume surges past $100M in SeptemberNFT sales volume on the Solana blockchain tagged $130.1 million in September, with that figure marking an 82.2% increase compared to the $71.4 million posted in August. While the figure still places Solana well behind Ethereum, which hosted $354.3 million worth of NFT sales volume last month, the difference between the two’s number of unique buyers is much smaller. According to CryptoSlam data, Solana NFTs saw 143,997 unique buyers in September (up from 95,516 in August) compared to Ethereum’s 166,168 that month (down from 202,467). While the figures may indicate that Solana is making up some notable ground on Ethereum, the latter still hosts the majority of blue chip NFT projects. Looking at data over the past 30 days, only one Solana NFT project makes the top 10 in terms of sales volume with tenth ranked y00ts mint t00b’s $13.3 million worth of sale volume. In comparison, eight Ethereum-based projects make the top 10 during that time frame. Mommy, I want that NFT! Gary Vaynerchuck’s NFT project VeeFriends has penned an exclusive deal with Macy’s and Toys “R” Us to sell physical plush and figure collectibles featuring VeeFriends NFT characters. The collectibles will be available in stores from Oct. 17th, and will be priced from $9.99 to $29.99. The characters include Common Sense Cow, Willful Wizard, Practical Peacock, Gratitude Gorilla, Genuine Giraffe and Be The Bigger Person. Related: Three Arrows Capital’s NFT collection to be liquidatedHodlers who own the NFT version of the characters will receive the associated physical collectibles, with the more expensive plush and six inch figures going to season one NFT holders. Notably, the hodler’s won’t get a kick-back from the sales of the physical toys however. Collectible toys: VeeFriendsOther Nifty News: Horizon Blockchain Games, the developers of popular NFT card game Skyweaver have raised $40 million in Series A funding, the company disclosed on Oct. 4. The round was led by Brevan Howard Digital and Morgan Creek Digital, with additional participation from Polygon, Take-Two Interactive, and Ubisoft to name a few. NFT marketplace OpenSea announced in a series of tweets on Oct. 5 that the platform will officially allow its users to bulk list and bulk purchase up to 30 digital collectible items in a single flow.

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