NFT News by Thebittimes.Com

Tether’s reported new partnership with Britannia Bank makes it the third Bahamas-based bank to join forces with the stablecoin issuer. Tether, the stablecoin issuer behind USDT, has reportedly added Britannia Bank & Trust, a private bank based in The Bahamas to process dollar transfers on its platform. It is understood Tether has instructed clients to send money to Britannia’s bank account over the last few months, according to an Aug. 29 report by Bloomberg, citing people familiar with the matter. However, it isn’t clear when Tether’s banking relationship with Britannia Bank started, but its other reported banking partners include Deltec Bank and Capital Union Bank. In recent months, United States- based cryptocurrency firms have had to increasingly look offshore for banking partners amid increased scrutiny by U.S. regulators following the shock collapse of FTX in November. Tether’s unwillingness to publicly disclose the full extent of its balance sheet and banking relationsh...

Phishing sites are making the private auction feature look like a way to log in, luring victims to give up their NFTs unknowingly. As nonfungible tokens (NFTs) became more popular, bad actors who constantly try to exploit users within the space have become more active. Now, a new hack involving a feature on the NFT marketplace OpenSea threatens NFT holders through phishing sites.  In an announcement, anti-theft project Harpie warned NFT users of a new hack involving gasless sales on the OpenSea platform. According to Harpie, hackers were able to steal millions in digital assets by exploiting the feature. When users want to conduct gasless sales within the OpenSea platform, they are required to approve a signature request with an unreadable message. With this feature, users are also able to allowed to create private auctions with unreadable signatures. Hackers have been able to steal NFTs like magic with a little-known OpenSea feature. It's the newest hack, and multiple millions ...