Hackers behind $41M Stake heist shifts BNB, MATIC in latest move: CertiK
A total of $4.8 million in funds have now been moved by the hacker to Bitcoin and now Avalanche. Go to Source
Gambling
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Crypto gambling site Stake sees $16M withdrawals in possible hack
Unusually large withdrawals were made from Stake to an account with no previous activity, including $3.9 million in Tether and $9.8 million in Ether. Go to Source
Crypto retail trading should be regulated as gambling: UK lawmakers
The volatility and purported lack of intrinsic value of most crypto assets make it particularly risky for consumers, the politicians claimed. Go to Source Powered by WPeMatico
Warren Buffett Likens Bitcoin to Gambling and Chain Letters in Recent Interview
Finance mogul Warren Buffett, one of the most successful investors in history, discussed bitcoin during an interview on CNBC’s Squawk Box on April 12. As he has done in previous interviews, the business magnate likened bitcoin to a gambling scheme and chain letters he received as a child. Buffett Shares His Two Cents on Bitcoin, … Read more
Rap Star Drake Loses $400,000 Bitcoin Bet on Jake Paul in Split-Decision Loss to Tommy Fury
The Canadian rapper and singer Drake lost $400,000 in bitcoin after betting that the YouTuber-turned-boxer Jake Paul would beat Tommy Fury by knockout. Drake could have potentially raked in a $1.44 million bitcoin payout, but Fury won the fight in a split-decision victory. Drake Loses $400K Bitcoin Bet on Jake Paul’s Bout On Feb. 26, … Read more
Redditor could lose young family after crypto trading addiction spirals
What began as a Redditor “just dabbling” two years ago blew into full-blown crypto trading addiction that all came to a head three weeks ago. Go to Source Powered by WPeMatico
Analyst Warns of Banks’ Authority to Confiscate Funds, Decline of US Dollar Purchasing Power
According to Lynette Zang, chief market analyst at ITM Trading, U.S. banks have the legal authority to confiscate people’s funds due to legislation passed by Congress. In a recent interview, Zang discussed how the purchasing power of the U.S. dollar has dwindled to “roughly three cents,” her belief that central bank digital currencies (CBDCs) will … Read more
Spanish rehab center adds crypto trading addiction to services list
The rehabilitation center noted that about 1% of cryptocurrency traders will develop an “extreme” addiction to crypto trading. Go to Source Powered by WPeMatico
ECB’s Fabio Panetta: Unbacked Cryptos Are a ‘Vehicle for Gambling’ Lacking ‘Intrinsic Value’
Fabio Panetta, part of the Executive Committee of the European Central Bank (ECB), believes that unbacked cryptocurrency assets are vehicles for gambling without intrinsic value, which need to be regulated. In an opinion piece, Panetta states that while cryptocurrency regulation is a good answer to the problem, it must also touch on decentralized finance structures. … Read more
Why Cryptocurrencies Are an Ideal Payment Solution for Gambling
The means of payment have recently evolved into the use of cryptocurrencies, and online casinos have quickly adopted them. It makes it easy for players to make deposits and withdrawals on online casinos without authorization from a central authority. With cryptocurrencies, online casino transactions have never been easier and safer. According to chainalysis, there are … Read more