NFT News by Thebittimes.Com

The integration of web3 wallet s into mainstream trading platforms heralds a new era in digital finance, blending the realms of cefi and defi while also raising concerns about increased vulnerability to crypto fraud . According to Bitrace and WuBlockchain, the integration of web3 wallets into mainstream trading platforms like OKX and Binance signals a significant shift. This fusion of centralized finance and decentralized finance is reshaping user interaction with digital assets and decentralized applications. However, this transition is not without its pitfalls, particularly regarding fraud risks. Bitrace: Beware as Trading Platforms Launch Web3 Wallets, Intensifying Cryptocurrency Fraud Risks The launch of Web3 wallets by platforms like OKX and Binance signifies the integration of Centralized Finance (CeFi) and DeFi as an industry trend. However, while breaking down the… — Wu Blockchain (@WuBlockchain) November 28, 2023 You might also like: Report reveals reason ...

Rain Lõhmus, the founder of LHV Bank told Estonian media last month he’s not made much effort to recover the funds, but is willing to pay someone who can. The founder of Estonia-based LHV Bank, Rain Lõhmus, has been revealed as the owner of a massive 250,000 Ether (ETH) stash bought during the Ethereum ICO, which is now worth an eye-watering $470 million.  There's only one problem. He no longer has the keys.  In February, Coinbase director Conor Grogan highlighted a Ethereum whale wallet containing some $470 million worth of ETH, untouched since the blockchain’s genesis. In an Nov. 6 update on X (Twitter), Conor highlighted Lõhmus’ comments in a recent interview that now tie him to the $470 million worth of trapped ETH. “One mystery solved,” wrote Grogan who shared an excerpt of an Oct. 31 ERR News report on an earlier Vikerraadio interview with Lõhmus. One mystery solved: This address (which now holds $450M of crypto) belongs to Rain Lohmus, founder of LHV Bank Unfortunately ...

Loading fake wallet apps on search engines is why many people lose coins. According to Bitrace, Telegram often implements malicious backdoors that identify surrogate addresses and cause funds to be sent to malicious addresses. The reason is that the anonymous nature of the blockchain network makes it difficult for ordinary investors and investigators to establish a connection between an on-chain address and a real person. Thereby, they miss the opportunity to freeze losses promptly. “Investors and investigators need to consider how to perceive threats before risky activity occurs, and monitor and promptly recover losses after they occur.” Bitrace Experts note that various search engines are fertile ground for the proliferation of fake websites. Fraudsters use SEO and SEM to promote phishing links online. You might also like: How blockchain security experts investigate hacks | Interview Clipboard hijacking is another classic attack method in which malware takes contro...

Chainlink, a decentralized oracle network, has come under scrutiny for altering the security measures of its multi-signature ( multisig ) wallet . Crypto researcher Chris Blec was one of several users on X (formerly known as Twitter) who criticized Chainlink for discreetly lowering the number of necessary signatures on its multi-signature wallet from a 4-of-9 configuration to 4-of-8. The 4-of-8 multisig configuration serves as a security protocol, requiring at least four out of eight signers to approve a transaction. In a Sep. 24 post, Blec highlighted a message from a pseudonymous user revealing that a wallet address had been quietly removed from Chainlink’s multisig wallet without any formal communication from the company. Chainlink multisig has removed a signer and is now a 4-of-8 multisig. This multisig can change *any* Chainlink price feed to provide *any* price that it wants it to provide. Completely centralized under this multisig. https://t.co/GOAtJXShIV — Chri...

Buying Bitcoin (BTC) in Australia can be done through crypto exchanges, ATMs and by trading with other parties. More and more people are discovering Bitcoin (BTC) and other cryptocurrencies, which is good for the adoption of digital money on the blockchain. Interest in Bitcoin is also growing in Australia and companies are responding positively. For example, there are various ways to buy Bitcoin in Australia. Trading Bitcoin is more than just buying and selling. So, what is the best place to buy Bitcoin and what is the most secure way to store a Bitcoin investment? Discover in this article different ways to buy Bitcoin in Australia, how to trade Bitcoin and the ways to store cryptocurrencies. Various ways to buy Bitcoin in Australia If you like to invest in BTC in Australia, there are several ways you can opt for. The most common way is by buying Bitcoin through a crypto exchange. By connecting a bank account, credit or debit card to the crypto exchange, it becomes easy to convert fi...

The BitKeep team confirmed that some APK package downloads have been hijacked by attackers and installed by users. While many are still enjoying the holiday season, hackers are hard at work, draining around $8 million in an ongoing BitKeep wallet exploit.  On Dec. 26, some users of the multichain crypto wallet BitKeep reported that their funds were being drained and transferred while they were not using their wallets . In their official Telegram group, the BitKeep team confirmed that some APK package downloads have been hijacked by some attackers and have been installed with code that was implanted by hackers. They wrote: “If your funds are stolen, the application you download or update may be an unknown version (unofficial release version) hijacked.” As the hack continues, the BitKeep team urged its users to transfer their funds to a wallet that came from official sources like Google Play and the Apple App Store. Apart from this, the team also asked community members to use newly ...

A whitelist is a list of wallet addresses with priority access to an NFT collection before making it available to the general public. Crypto-based scams are constantly sweeping the nonfungible token (NFT) space; therefore, staying updated is the most significant way to prevent both new and existing NFT scams. Other than fraud, intense rivalry for newly minted NFTs may cause prices to rise and transaction fees to skyrocket, making them unaffordable for early supporters.  Nonetheless, these issues have been solved by NFT providers by establishing whitelists or allowlists, giving special privileges and access to a newly minted nonfungible token. Before public minting begins, nonfungible token projects employ allowlists to restrict who can mint NFTs. For example, one can mint NFTs without being concerned about gas wars if they are on the whitelist. This article will discuss the NFT whitelisting concept and process, why NFT whitelists are used, and how to get on an NFT whitelist. What is a...

Cryptocurrency payment gateways are digital currency payment processors that allow merchants to offer cryptocurrencies as a payment method. The parallel development of payment processors for digital currencies is taking place along with the implementation of blockchain technology in various industries like healthcare, academics, supply chain and among others. Businesses willing to accept cryptocurrencies as a payment method rather than fiat currencies rely upon crypto payment gateways to operate.  Without the trouble of needing to keep a cryptocurrency wallet and convert digital currency into fiat money, a crypto payment gateway can offer a straightforward solution for a merchant to adopt crypto. This facilitates the broader acceptance of digital currencies and makes it simpler for a vendor to provide cryptocurrency payment options. This article will highlight the role of crypto payment gateways in the cryptocurrency market, their advantages and disadvantages and how a crypto payment ...

Join Our Telegram channel to stay up to date on breaking news coverage NFT transactions are no longer supported by Coinbase’s Wallet iOS app as a result of Apple’s rigorous new NFT restrictions, which were revealed in October. “You may have noticed that NFTs can no longer be sent on the iOS version of Coinbase Wallet. This is due to Apple preventing our most recent app release until we turned off the feature”, the Coinbase Wallet account tweeted on Thursday. NFTs are subject to a steep 30% transaction tax on Apple’s mobile app store, even if they aren’t officially forbidden. Developers will have their apps removed from the store if they are unable to comply with that criterion. According to Coinbase, Apple wants to charge a 30% fee on any gas fees (i.e., fees associated with Ethereum network transactions) associated with NFT transfer s carried out through the wallet app, but Coinbase claims that this is “impossible.” This is ob...

Lewis Neal went from playing professional football to trading various asset classes before he found out about Bitcoin. When things don't go as planned in your career, finding opportunities in other fields is the way to go according to Lewis Neal, a former  National Football League (NFL) defensive tackle. Speaking to Cointelegraph at the Blockchain Economy Dubai Summit 2022, Neal shared the story of how he went from playing professional Football to exploring the finance world, eventually leading him to Bitcoin (BTC) and crypto wallets . Lewis Neal with Cointelegraph reporter Ezra Reguerra. Photo by: Roland Guirdonan Neal explained that his expectations were high when he started football . Like many aspiring professional sports guys, he thought that he would be the star of the show. However, things didn't turn out as he hoped. He said: “I thought I was going to get a lot of playing time. But during that year, I was a backup. [...] So, I had to develop another skill that can be ...