Beijing’s crackdown on crypto continued with the start of the new year as Chinese police froze nearly 6 million yuan ($1 million) worth of crypto and arrested eight people involved with it. As per a report published in Nikkei Asia, the public security bureau of Chizhou unearthed a crypto rug pull fraud that could be worth 50 million yuan ($7.8 million). The police began an … [Read more...] about Chinese police unearth multi-million dollar DeFi rug pull
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Pakistan to investigate Binance for multi-million dollar crypto scam
Pakistan's Federal Investigation Agency (FIA) reportedly issued a formal notice to crypto exchange Binance in an effort to identify links around a multi-million crypto scam in the region. The government of Pakistan started a criminal investigation after receiving numerous complaints against an ongoing scam that involved misleading investors into sending funds from Binance … [Read more...] about Pakistan to investigate Binance for multi-million dollar crypto scam
Here’s what happens to Ethereum (ETH) revenue after multimillion NFT sales
The latest research from crypto analytics company Nansen analyzed the flow of ether (ETH) that has come into the NFT market to determine whether it had any effect on ETH’s price. Nansen’s report analyzed both the primary and the secondary market for NFTs, following where the money projects receive from NFT sales goes. After following four levels of transfers, the report found a … [Read more...] about Here’s what happens to Ethereum (ETH) revenue after multimillion NFT sales
Scammers turn their attention to NFTs as the crypto subsector sees multimillion dollar mania
NFTs have had quite the roller coaster year. Spurred by the sale of Beeple’s The First 5000 days for a record $70 million, tokenized digital art was thrust into the mainstream earlier this year.A dramatic dip in sales followed, leading many to believe it was game over for NFTs. However, the past month or so has seen a resurgence in trading volume and Google searches.With that, … [Read more...] about Scammers turn their attention to NFTs as the crypto subsector sees multimillion dollar mania