Autor Cointelegraph By Brian Quarmby

Jack in the Box ends suit against FTX for allegedly stealing its mascot

Jack in the Box ends suit against FTX for allegedly stealing its mascot

Uverejnil používateľ | jan 21, 2022 |

Jack in the Box’s lawsuit against FTX US over an alleged mascot-related copyright and trademark infringement has come to an end after the parties reached a settlement. The duo informed the District Court for the Southern District of California that they had resolved the dispute via a motion to dismiss on Jan. 20, however the specific details of the settlement have not been disclosed. The popular fast food chain initially filed the suit at the start of November, alleging that the appearance and behavior of FTX US’s “Moon Man” mascot was a rip off of Jack in the Box’s “Jack” mascot that has trademark rights dating back to 1995. Jack in the Box was initially seeking unspecified damages over allegations related to copyright infringement, trademark dilution, trademark infringement, false designation of origin and unfair competition. “Rather than spending its vast financial resources to develop its own intellectual property, FTX brazenly and illegally copied or derived its ‘Moon Man’ mascot from JITB’s Jack,” the company alleged in court documents from November. Cointelegraph reached out to FTX US regarding the details of the settlement, and a representative stated that “the terms of the settlement were not disclosed and there will be no further comment.” I guess they settled with Jack in the box out of court. pic.twitter.com/fu6BBUjObz— Piney Pineapple (@jim_b4_the_rugs) January 20, 2022Jack in the Box describes its mascot as “a typical adult human male, with the exception of his large spherical white head, blue dot eyes, nose, and curvy smile,” While FTX US’s mascot depicts a man with a spherical moon head and an open smile. Separated at birth: Moon Man (left) and Jack (right)Related: FTX announced as naming rights sponsor of Australian Blockchain Week 2022FTX’s Moon Man has been featured on TV commercials and at live Major League Baseball games — which the FTX US has a branding partnership with, among others — but depending on the terms of the settlement, his days could be over, or he may look different in future.

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'Less sophisticated' malware is stealing millions: Chainalysis

'Less sophisticated' malware is stealing millions: Chainalysis

Uverejnil používateľ | jan 20, 2022 |

Cryptojacking accounted for 73% of the total value received by malware related addresses between 2017 and 2021, according to a new malware report from blockchain analysis firm Chainalysis.Malware is used to conduct nefarious activity on a victim’s device such as a smartphone or PC after being downloaded without the victim’s knowledge. Malware-powered crime can be anything from information-stealing to denial-of-service (DDoS) attacks or ad fraud on a grand scale. The report excluded ransomware, which involves an initial use of hacks and malware to leverage ransom payments from vicitms in order to halt the attacks. Chainalysis stated:“While most tend to focus on high-profile ransomware attacks against big corporations and government agencies, cybercriminals are using less sophisticated types of malware to steal millions in cryptocurrency from individual holders.”Chainalysis’ Jan. 19 report focuses on the various types of crypto-malware, excluding ransomware, used over the last decade such as info stealers, clippers, cryptojackers and trojans, noting that they are generally cheap to acquire and even “low-skilled cybercriminals” can use them to siphon funds from their victims. Cryptojacking tops the list of value received via malware at 73%, Trojans were ranked second at 19%, ‘Others’ totalled 5% while information stealers and clippers represented a mere 1% each. According to Chainalysis, malware addresses send the “majority of funds on to addresses at centralized exchanges,” but note that figure is declining. As of 2021, exchanges only received 54% of funds from those addresses compared to 75% in 2020 and around 90% in 2019.“DeFi protocols make up much of the difference at 20% in 2021, after having received a negligible share of malware funds in 2020.”The report looked at the prolific Hackboss clipper that has stolen around $560,000 since 2012 by infecting user’s clipboards to steal and replace information. It found that the “Cryptobot” infostealer was significant source source of ill-gotten gains in 2021, generating $500,000 worth of Bitcoin (BTC) from around 2,000 transactions. CryptojackingCryptojacking malware utilizes the victim’s computing power to mine various cryptocurrencies, with the target asset of choice “usually Monero” but Zcash (ZEC) and Ethereum (ETH) are sometimes also mined. Chainalysis notes that a specific amount generated by this method is hard to pin down as the funds are transferred from mempools to unknown mining addresses as opposed to “the victim’s wallet to a new wallet” in other cases. Despite being unable to provide an estimated monetary figure on the harm caused by cryptojackers, Chainalysis projects this malware type to account for almost three quarters of the total value generated by crypto-malware. The report noted a 2020 report from Cisco’s cloud security division stated that cryptojacking affected 69% of its clients, thus translating to an “incredible amount of stolen computer power” used to mine large amounts of crypto. It also highlighted a 2018 report from Palo Alto Networks which estimated that 5% of Monero’s circulating supply was mined by cryptojackers, estimated to be worth around $100 million in ill-gotten revenue. Related: Crypto.com breach may be worth up to $33M, suggests onchain analystInfo Stealer and clippers Info stealers are used to swipe the victim’s crypto wallet info and account credentials, while clippers can be used to insert a specific text into the victim’s clipboard.Clipper malware is often used to hijack the victim’s outgoing transactions by inserting the cybercriminal’s wallet address when victims attempt to paste a sending address. The report noted that these two types of malware received a combined 5,974 transfers from victims in 2021, up from 5,449 in the year prior.

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Strike wallet is 5th most popular finance app in Argentina, but where’s the BTC?

Strike wallet is 5th most popular finance app in Argentina, but where’s the BTC?

Uverejnil používateľ | jan 19, 2022 |

Strike’s digital wallet has become the fifth most popular finance app in Argentina within a week of its launch.The firm, led by hoodie-wearing CEO Jack Mallers, rolled out its crypto payment services for the Argentinian market on Jan 12. Strike is famed for enabling Bitcoin (BTC) payments via the Lightning network, particularly in El Salvador. However, according to local media and user reports, the firm’s app in Argentina reportedly currently only supports the use of Tether’s stable coin USDT for transfers via Lightning. Users are able to purchase Bitcoin via the app though, and send it to a third party wallet. Mallers tweeted on Jan. 18 that Strike’s app is currently ranked as the fifth-highest finance app and the top new app overall on the Argentinian Apple app store, as he emphasized the importance of the Bitcoin network: “The best monetary network in human history is here, it’s open, and will disrupt the world quicker than anyone thinks. Open networks win.” Mallers stated earlier this week that Strike is working to bring additional BTC support and features to the app soon, noting that the company is taking the “exact same” same approach to El Salvador. Since launch we’ve already been approached by many new partners.We have meetings next week to find sufficient partners and are working on bringing the #Bitcoin tab and other features in the US to Argentina, one step at a time.The exact same approach we’ve taken in El Salvador— Jack Mallers (@jackmallers) January 15, 2022Neither Strike nor Mallers highlighted the use of Tether as part of the company’s initial announcement, however the CEO did note that the app would enable the Argentinian people to “hold a stable cash balance that can be spent both instantly and with no fees.” According to a rough translation of a Jan. 11 report from local media outlet iProUP, the terms of service for Strike’s app states that it is partnered with the Bittrex exchange for asset custody and fund transfers, and specifies that the app will provide “a currency that users can use to protect themselves” from inflation. “Although the solution is being promoted as being based on BTC technology, it is actually based on the Ethereum network, as it is the Tether USD (USDT) stablecoin, under the ERC-20 token technology standard,” the publication wrote. Related: Uruguay reportedly installs its first Bitcoin ATMA local Strike user named “Nico” on Twitter stated that he able to receive Bitcoin via the app but it was instantly converted into USDT, while Argentinian crypto Journalist Luis David Esparragoza responded the same thing happens on the reverse transaction, where users send USDT to Bittrex which is then converted in BTC. One function that reportedly supports Bitcoin directly in Argentina, is the BTC tipping feature on Twitter, with Mallers alluding to such via a screen recorded via on Twitter last week. Cointelegraph has reached out to Mallers for comment regarding the use of USDT, and will update the article if he responds.

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Microsoft's massive Metaverse move: Buying Activision for $69B

Microsoft's massive Metaverse move: Buying Activision for $69B

Uverejnil používateľ | jan 19, 2022 |

Microsoft Crop. is acquiring gaming giant Activision Blizzard Inc. for $69 billion as part of a move to ramp up its gaming and Metaverse plans. Activision Blizzard is home to a long list of iconic gaming franchises such as Call of Duty, Overwatch, Candy Crush, World of Warcraft and Tony Hawk’s Pro-Skater. Following the deal, its games are set to be added to Microsoft Xbox’s Game Pass service that has 25 million subscribers. According to a Jan. 18 announcement from Microsoft, the firm will acquire Activision Blizzard for $95.00 per share at a valuation of $68.7 billion. The deal is set to close in the 2023 fiscal year, and it will see Microsoft become the third largest gaming company in terms of revenue behind Riot Games owner Tencent and Playstation developer Sony. Together with @ATVI_AB, we will usher in a new era of gaming that puts players and creators first and makes gaming safe, inclusive, and accessible to all. https://t.co/fF2Ig3gSfx— Satya Nadella (@satyanadella) January 18, 2022Microsoft outlined that the acquisition will support the growth of its services across mobile, PC, console and cloud gaming, and also notably stated that it will “provide building blocks for the Metaverse.” Microsoft CEO and chairman Satya Nadella said: “Gaming is the most dynamic and exciting category in entertainment across all platforms today and will play a key role in the development of metaverse platforms.” As part of the acquisition, Microsoft stated that Activision Blizzard CEO Bobby Kotick will remain at the helm until the deal closes, with the reins then being handed over to Microsoft Gaming CEO Phil Spencer. Spencer welcomed the deal via an Xbox blog post and emphasized the company is working to make cloud gaming accessible on as many devices as possible. He didn’t mention the Metaverse or NFTs however, sectors that have seen a backlash from some sections of the gaming community. “The fantastic franchises across Activision Blizzard will also accelerate our plans for Cloud Gaming, allowing more people in more places around the world to participate in the Xbox community using phones, tablets, laptops and other devices you already own,” Spencer wrote. Some sentiments I’ve heard from Activision Blizzard employees today:- Optimism about management changes and the positive culture at several Xbox-owned studios- Fury toward Microsoft for giving Bobby Kotick a big payday and soft exit- Determination to keep organizing— Jason Schreier (@jasonschreier) January 18, 2022

In November, Nadella first unveiled Microsoft’s Metaverse plans via an upgrade to its “Teams” service and a product called “Dynamics 365 Connected Spaces.” The “Mesh” upgrade for Teams is set to introduce personalized digital avatars and immersive spaces to meet in the Metaverse later this year. Nadella also stated at the time that people can “absolutely expect” to see Microsoft integrate Metaverse features with the Xbox gaming consoles, but didn’t divulge any concrete plans or specific details. Related: NFT-focused Animoca Brands valued at $5B following $358M raiseIt is unclear if Microsoft’s Metaverse play for Xbox will include the introduction of NFTs, with Spencer  stating in November that he felt the experimentation happening in NFTs was more “exploitative than about entertainment.”Spencer noted that if the Xbox Store were to support NFTs, the company would actively weed out any nefarious behavior or content. Microsoft acquires another massive gaming company, the monopoly continues to grow as Sony scrambles to make their next power play, the console war is at an all time climaxMeanwhile, at Nintendo: pic.twitter.com/adJlrMQZLY— Colin (@IntroSpecktive) January 18, 2022

The Wall Street Journal reported last week that 100 employees from Microsoft’s augmented reality team have left the company over the past year to join metaverse competitor Meta (Facebook).

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Fan Controlled Football raises $40M to expand league with Bored Apes and Gutter Cats

Fan Controlled Football raises $40M to expand league with Bored Apes and Gutter Cats

Uverejnil používateľ | jan 14, 2022 |

Alternative sports organization Fan Controlled Football (FCF) has raised $40 million in Series A funding from crypto and blockchain gaming firms to support the league’s expansion plans, including four new teams and an NFT project. The FCF was founded in 2017 by Sohrob Farudi, Patrick Dees, Ray Austin and Grant Cohen and hosted its debut season inside a bubble environment in Atlanta amid the pandemic last year. The FCF features an indoor version of American football in a seven vs seven-player format, and the games are streamed live on Twitch. The unique feature of the league is that the teams are governed by their fans, who have voting rights on anything ranging from player acquisitions, in-game plays, branding and team selection. For the upcoming season, NFTs will play a key role in the voting process for half of the teams. The $40 million Series A funding round was led by NFT and crypto firms Animoca Brands and Delphi Digital. The funds will be used to expand the league from four to eight teams for the 2022 season, along with launching NFTs called “The Ballerz Collection.” All four of the new teams are owned by figures tied to NFT projects with the Bored Apes and Gutter Cats teams being the latest to be announced following the unveiling of the Knights of Degen and Team 80KI (co-owned by DJ and NFT proponent Steve Aoki) in October. The FCF is rolling out 8,888 Ballerz NFT avatars for each new team which fans can snap up to hodl and obtain voting rights for their team. The NFTs will differ in rarity and value, with the more expensive tokens offering greater benefits such as enhanced voting power, exclusive content and game tickets. Any existing Bored Ape Yacht Club or Gutter Cat NFT hodlers will also receive a 50% discount on Ballerz NFT purchases if they buy tokens corresponding to those teams. The NFTs are slated to drop late this month, and the public minting cost per token will be 0.1776 Ether (ETH) or roughly $580. Four new FCF teams: fcf.ioSpeaking with Cointelegraph , Animoca Brands chairman and co-founder Yat Siu emphasized that fan tokens can enable fans to directly participate in their favorite sports: “One of the most powerful things that tokenization does is release the energy of fans into tangible forms of value and meaning, we see this effect in NFTs and also social tokens.”“Fan Controlled Football is an evolution where the game is in the hands of the fan from the get-go and introducing blockchain technology will give it deeper meaning and purpose for all the fans that are playing FCF,” he added. Related: 3x NBA champion Andre Iguodala becomes the latest athlete to receive salary in cryptoIn an interview with Forbes on Jan. 12, FCF co-founder Farudi stated that the organization is “experimenting” with its format and will continue to do so to find out what works best for the fans and the league. “We don’t know exactly what’s going to work and what’s not going to work. But we don’t have a player’s union. We don’t have 30 owners around the table telling us no. We have one agenda. Our agenda is to be successful. We’re going to experiment to the nth degree to figure out what works and what fans love,” he said.

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