Month: June 2024

2024 Crypto Losses Attributable to Deepfakes Projected to Exceed $25 Billion

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Losses attributed to crypto crimes involving the use of deepfakes are projected to surpass $25 billion in 2024. According to the latest Bitget research study, these losses are expected to continue rising if no regulatory intervention is introduced to curb this type of fraud. Educating users and implementing comprehensive legal and cybersecurity frameworks globally are … Read more

Fake Crypto Fund Operator Pleads Guilty to Defrauding Investors

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Michael Joseph McElhiney, age 37 and formerly of Spokane, Washington, has pleaded guilty to wire fraud, the U.S. Department of Justice (DOJ) announced on Wednesday. Between March 4, 2021, and Sept. 10, 2022, McElhiney defrauded investors by falsely claiming to operate a cryptocurrency investment fund called Mac Blockchain Solutions. He contacted victims in person, via … Read more

Bitcoin and Crypto Were Not Mentioned Once During the Trump-Biden Debate

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Prior to the highly anticipated presidential debate between Donald Trump and Joe Biden, many on social media were speculating whether the topics of Bitcoin and cryptocurrency would come up. However, as the debate concluded, it was clear that neither candidate made any mention of these emerging digital assets or technologies. The absence of any discussion … Read more

Nubank Partners With Lightspark to Bring Lightning Network Access to Over 100 Million Customers in Latam

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Nubank, Latam’s most valuable bank, has partnered with Lightspark, a cryptocurrency-focused financial services company, to bring its customers access to Lightning Network transactions. With this partnership, Nubank expects to lower costs and get more flexibility for users to take advantage of its trading platform, according to Thomaz Fortes, Executive Director for Nubank Crypto. Nubank to … Read more