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Connecticut authorities recover $3m worth of Bitcoin
Westport, Connecticut police assisted a crypto investor in reclaiming over $3 million in Bitcoin (BTC) after they fell victim to a high-profile financial scam. Westport police thwart BTC scam In May, the Westport police reportedly initiated an investigation following a report from a victim, who had been persuaded to transfer funds from their retirement account to a Kraken crypto exchange wallet address January, as stated by Lt. Eric Woods in a news release. Between January and March, the victim discovered that over $3 million worth of Bitcoin had been withdrawn and moved to cryptocurrency wallets beyond their control. Collaborating with the Connecticut State Police, Westport detectives diligently traced the transactions and successfully froze all accounts linked to the scam, as confirmed by Woods. As a result of these efforts, authorities successfully recovered over $3 million, which has now been returned to the victim. Woods also clarified that the frozen accounts were traced ba...
Crypto.com updates Euro wallet, expands payment offerings
Crypto.com has updated its Euro Wallet to serve users in the Euro payment area better. Crypto.com Updates EUR wallet Crypto.com is committed to providing its users with a seamless trading experience. It recently expanded its offerings by integrating a Euro wallet and allowing for secure Single Euro Payments Area (SEPA) transfers with no transaction fees. With these updates, users now have more options for providers when depositing and withdrawing EUR from the fiat wallet on the platform. The deposit and withdrawal process has also been simplified, enabling access to over 250 cryptocurrencies. Crypto.com aims to offer customers an affordable and easy-to-use platform to take advantage of market opportunities as soon as they sign up. SEPA transfers enabled SEPA transfers are a great option for users on Crypto.com. They offer lower or no fees for sending and receiving money within the SEPA network and standardized rules for a consistent trading experience. Additionally, SEPA t...
nChain claps back at former CEO’s allegations, behavior
Blockchain and web3 innovator nChain has issued a statement responding to accusations made by its former CEO, Christen Ager-Hanssen. Hours after Ager-Hanssen took to social media to announce his departure from the technology company, citing a conspiracy against shareholders, the Zug, Switzerland-based company responded with a statement of its own. I can confirm I have departed from @nChainGlobal as its Group CEO with immediate effect after reporting several serious issues to the board of nChain Group including what I believe is a conspiracy to defraud nChain shareholders orchestrated by a significant shareholder. I also… pic.twitter.com/F6rNJfRxnl — Christen Ager-Hanssen (@agerhanssen) September 29, 2023 Ager-Hanssen had couched his social media post to imply he left his position of his own volition. However, in its statement, nChain clarified that the Norwegian businessman was summarily dismissed on Sept. 27 following concerns regarding his stewardship of the company. The conc...
AI won’t realize its potential without web3
Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Headlines touting the allure of artificial intelligence’s (AI) disruptive potential might make it seem like we’re already on the cusp of a completely automated and decentralized future. However, the reality is that, while this will be a transformative journey, it will likely be an incremental one over the next decade. First applications will be built by AI as a supporting developer tool. In the next phase of adoption, we will see a transition to applications with AI built-in. Here’s what to expect. What is built-in AI? Built-in AI is the natural progression of the AI app revolution from merely amplifying the production of apps to seeing the explosion of apps that use AI as a core part of their functionality. The difference here is that these apps aren’t simply built by AI, but are using AI to create unique value and business model...
SEC Drops Bombshell: Terra Founder Do Kwon Chat History Leaked
A court filing by the SEC has shown the contents of leaked chats between Do Kwon , founder of the Terra blockchain which collapsed in 2022, and co-founder Daniel Shin , the CEO of the Chai payment app. Chat History Between The Two Co-founders On September 22, 2023, a court filing revealed the chat history between Do Kwon and Daniel Shin, the founder of the payment app Chai. The chats between both founders date back to 2019. In the filing, it was revealed that Do Kwon and Shin had allegedly planned to create fake transactions to generate fees during the project’s development and to help support their activities. “I can just create fake transactions that look real…which will generate fees… and we can wind that down as Chai grows.” Do Kwon said this to Shin in response to a question asking about when will participants start engaging in staking and when the token airdrops end. Shin was concerned about Do Kwon’s suggestion and he asked “What if people find out it is fake?” Do Kwon r...
Azteco secures $6m in Jack Dorsey-led fundraiser
Azteco raised $6 million in funding, with Block Inc. CEO Jack Dorsey leading the round. The Santa Monica, California-based company aims to accelerate Bitcoin adoption by introducing Bitcoin gift cards. Azteco’s mission to democratize finance Dorsey’s support for Azteco stems from a deep respect for the company’s mission to make life easier for the unbanked population worldwide. The former Twitter CEO believes that the technology and resources required to make this positive change are available, and Azteco is taking a crucial step in the right direction. Azteco’s core initiative revolves around introducing Bitcoin gift cards, designed to elevate the flagship crypto’s value to the level of traditional fiat currencies like the US dollar. The ultimate goal is to democratize finance and establish partnerships with companies across the globe, ensuring that Bitcoin spending becomes a mainstream and widely accepted concept, according to Azteco CEO Akin Fernandez. Relying on a third par...
VanEck to donate 10% of ETF profits to Ethereum contributors
VanEck has declared its support for the development of Ethereum by pledging to donate some of its upcoming Ethereum exchange-traded fund (ETF) profits. Global asset management company VanEck has promised to give the Ethereum Protocol Guild 10% of its Ethereum Futures ETF profits for the next ten years. The firm, which manages a portfolio with an asset value of nearly $80 billion, made the announcement in a Sept. 29 post on X. Big announcement! We intend to donate 10% of our $EFUT ETF profits (https://t.co/gr652AkUvv) to @ProtocolGuild for at least 10 years. Thank you, Ethereum contributors, for nearly a decade of relentless building & ongoing stewardship of this common infrastructure. Details 👇 — VanEck (@vaneck_us) September 29, 2023 Its decision to direct funds towards the Ethereum (ETH) community acknowledged the protocol guild’s considerable contributions to building and maintaining the Ethereum infrastructure over the past decade. The guild is a collective comprising ...
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Huge Surges: Polygon (MATIC) Soars After Dragon Fruit Upgrade, Everlodge (ELDG) Continues to Deliver Impressive Returns and Uniswap (UNI) Hits 200M Transactions Milestone!
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Here Are The Major Takeaways From The Ripple Victory Party
Although the legal battle between Ripple and the SEC isn’t officially over, the payments technology company has gone ahead to host a party to celebrate its partial win in court. After the court win, Ripple’s founder and CEO Brad Garlinghouse announced on social media a September 29 date for what was called a “Victory Party.” Now that the event has been held, it hasn’t gone without a mark for the XRP community. 🎉 Save the Date 🎉 We’re hosting a community celebration on September 29 in New York City! Stay tuned for more details to come later this week. pic.twitter.com/PlaqPoQcte — Ripple (@Ripple) August 28, 2023 A Sense Of Relief And Validation After years of battling it out against the SEC in court, Ripple finally got some reprieve. While Ripple’s legal troubles aren’t over, the company threw a party. As expected, the party was a lavish one, with many people even queuing to get into the event. Lenny Kravitz, a legendary figure in the world of rock music, gave a performance ...