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South Korean police arrested a man in his 40s for orchestrating a cryptocurrency scam that defrauded 158 investors of 16 billion won ($12 million). Operating from November 2021 to June 2022, he promised an 18% monthly return on investments in a fake cryptocurrency mining business. The scam resulted in individual losses ranging from 1.2 million … Read more
The Russian economy has experienced substantial growth across various sectors, with unemployment rates remaining historically low, despite ongoing Western sanctions related to the Ukraine conflict. Industrial production, driven by military manufacturing, saw a 3.3% increase in July, and the GDP growth rate for the first half of the year reached 4.6%, compared to 1.8% in … Read more
Rhodium Encore LLC, a bankrupt bitcoin mining company, has received court approval for a unique debtor-in-possession financing plan that allows borrowing in either U.S. dollars or bitcoin. Galaxy Digital Holdings Ltd., a blockchain firm led by Mike Novogratz, has offered to provide Rhodium with a loan of either $30 million in dollars or 500 bitcoin. … Read more
Oasys, a Web3 gaming-oriented blockchain project, announced a strategic partnership with SBI Holdings, one of the largest financial conglomerates in Japan. As part of this partnership, Oasys secured an undisclosed amount of funding to grow the liquidity of its token and expand the Oasys ecosystem. Yoshitaka Kitao, President and CEO of SBI Holdings, stated that … Read more
A court in British Columbia, Canada, has ordered Daniel Tambosso to repay Hung Nguyen $1.2 million for a loan of 22 bitcoins made in 2021. Nguyen, a Canadian real estate agent, claimed the loan constituted his entire savings, and Tambosso’s failure to repay has severely impacted his finances and mental health. Tambosso, claiming to be … Read more
In August, approximately $310.9 million was lost to exploits, hacks, and scams. However, digital assets worth $10.3 million were recovered, resulting in a net loss of $300.6 million. According to the security firm Certik, this is the second-highest monthly loss in 2024 so far. While May had the highest exploit total loss of just over … Read more
The East African nation of Tanzania has reportedly restricted access to the social media platform X (formerly Twitter). This ongoing outage has been confirmed by Netblocks, an internet observatory organization. The incident coincides with a police alert regarding alleged plans by the opposition party to raid police stations. Prominent politician Tundu Lissu and four other … Read more
The Trump family’s decentralized finance (defi) venture, World Liberty Financial, which has been shrouded in secrecy for quite a while, has now revealed another development—the launch of an “epic meme contest.” The news broke on the social media platform X, where the World Liberty Financial account shared, “To celebrate President Trump’s tweet about us yesterday, … Read more
Argentine President Javier Milei recently announced that a series documenting his rise to power will premiere on X. The six-part limited series, titled “Milei – The Series,” will showcase the process Milei underwent to reach the Argentine presidency. It will feature never-before-seen insider content recorded by director Santiago Oria, who is also responsible for the … Read more
On Friday, Aug. 30, 2024, gold experienced a decline in value, coinciding with the U.S. Commerce Department’s release of the personal consumption expenditures (PCE) price index data. The PCE climbed by 2% in July, aligning perfectly with market expectations. During the day, gold hit a low of $2,495, but it later bounced back, crossing the … Read more