Chainlink, MakerDAO Honored as World Economic Forum ‘Tech Pioneers’

The World Economic Forum (WEF) has recognized six blockchain firms on its list of 100 ‘early to growth-stage’ companies as Technology Pioneers for 2020. According to the WEF’s website, the blockchain and crypto startups recognized for pioneering new technologies and innovations in 2020 are Lightning Labs, Chainlink, MakerDAO, Bitcoin analytics firms Elliptic, Latin America-based cryptocurrency startup Ripio, and Veridium Labs. They’re among 100 companies from around the world chosen for their contributions to bleeding edge technology, from “artificial intelligence to diagnose cancers and quantum computing systems, to carbon capture and…

Chinese Tech Group Behind TikTok Looks to Enter Finance

ByteDance, the Beijing-based multinational tech group behind Tiktok, is looking into adding banking to its line of products and services. It is currently bidding for a digital bank licence in Singapore, according to the Financial Times on June 15.  Competition is stiff ByteDance is likely to compete with a few other Asian tech giants including Alibaba’s Ant Financial and electronic leader Xiaomi to obtain one of the five virtual banking licences that the Monetary Authority of Singapore is about to issue later this year.  The news reported while citing sources…

Phishing Sites Use Trick Letters in Domain Names to Steal XRP

Cryptocurrencies forensics experts from Xrplorer warned on June 15 of an elaborate phishing scam where hackers try to steal the secret keys of XRP users, under the false premise that Ripple is giving away tokens. According to the report, the scam campaign, whose origin dates back to approximately January 17, 2020, began sending memo messages with minimal XRP amounts that said: “Starting February 1, 2020, Ripple is releasing 3 Billion XRP to incentivize network users. Get 25% more XRP added to your account balance in just minutes.” The scammers linked…

Bitcoin Ponzi Scammer Arrested by Jakarta Police for Sexual Assault

Russ Albert Medlin — co-founder of alleged crypto Ponzi scheme BitClub — was arrested in South Jakarta under accusation of sexual assault on minors. Local news outlet Jakarta Globe reported on June 16 that local law enforcement arrested Medlin on Monday. Jakarta Police chief Yusri Yunus explained that law enforcement received “tip-offs from the public that underage women were often seen” at his residence. When surveilling the place where he was residing, the police saw three teenagers leave his house: “The officers intercepted and questioned three underage women, around 15…

Cybercrime Up 75% During COVID-19, Congressional Hearing Details

Giving the opening remarks during a U.S. House meeting on illegal digital activities, Representative and subcommittee chair Emanuel Cleaver (D-MO) noted a major jump for online crime in 2020. “We are seeing a 75% spike in daily cybercrimes, reported by the FBI since the start of the pandemic,” Cleavor said in his opening statements of the June 16 virtual hearing before the Subcommittee on National Security, International Development, and Monetary Policy.  Speaker dials into specific attacks and sectors After COVID-19 prevention measures caused business closures and shelter-in-place orders in mid-March,…

Craig Wright Is ‘Either a Thief or a Fraud’

Former Mt. Gox CEO Mark Karpeles insists that the 80,000 Bitcoin (BTC) that Dr. Wright lays claim to was stolen from the exchange in March 2011. Cryptocurrency experts side with Karpeles. Bitcoins were stolen Karpeles confirmed to Cointelegraph that the Bitcoins residing at 1FeexV6bAHb8ybZjqQMjJrcCrHGW9sb6uF were stolen from Mt. Gox: “I confirm, this was confirmed in 2011 and records are also part of court documents available publicly.” Also, speculating about Dr. Wright’s motivation in this turn of events in the Tulip Trust saga, Karpeles opined that nChain’s chief scientist is just…

Six Nigerian Citizens Added to the US Sanctions List for Cybercrimes

The office of Foreign Assets Control of the U.S. Department of the Treasury announced on June 16 the addition of six Nigerian individuals to the sanctions list for cybercrimes. According to the official announcement, Nnamdi Orson Benson, Abiola Ayorinde Kayode, Alex Afolabi Ogushakin, Felix Osilama Okpoh, Micheal Olorunyomi, and Richard Izuchukwu Uzuh are the individuals that joined to the “OFAC’s Special Designated Nationals” list. Special cybercrime-related issues authority given to the U.S. Treasury The announcement does not name the allegations against the new specially designated nationals. However, the “CYBER2” classification…

$300 ETH? Ethereum Looks to Be Next Major Crypto to Follow Cardano

Recently, several altcoins have been showing strength. A few good examples are Theta Token (THETA), Zilliqa (ZIL), and Elrond (ERD). However, the large caps are lagging heavily and the only large-cap performing well has been Cardano (ADA). As smaller cap altcoins begin to lift off, some investors might be wondering exactly what is needed for a significant surge in the large caps? Does the market need confirmation from Bitcoin (BTC), the top-ranked digital asset on CoinMarketCap, or is the top altcoin Ether (ETH) the signal?  Crypto market daily performance. Source:…

SIM Swap Hackers Target Crypto Investors — Cell Services Not Available

On June 11, it came to light that California resident Richard Yuan Li had been charged with conspiracy to commit wire fraud for his role in a number of SIM swap attacks that targeted at least 20 individuals. Not only that, but as part of his elaborate money swindling scheme he also attempted to extort 100 Bitcoin (BTC) from an unknown physician in exchange for keeping their private, sensitive information from being released online. According to numerous reports, Li’s nefarious deeds can be traced all the way back to 2018…

UK Watchdogs Launch Ad-Scam Alert System to Crack Down on Online Fraud

The United Kingdom Advertising Standards Authority (ASA) and the Internet Advertising Office (IAB) launched a new system on June 16 to detect and remove online fraud ads. According to the Telegraph, the system will allow people to report fraudulent ads, especially those that appear in paid-for spaces. One of the main motivations behind the alert system is ongoing concerns about the rise in ad scams that are mainly related to crypto-related fraud, said both authorities. Increasing concerns on the surge of crypto-related scams The ASA quoted figures released by the…