Wash trading in NFT marketplace LooksRare can inflate prices: analysts
While sales volumes on NFT marketplaces thrive, new data show much of this comes from manipulating sales — painting the whole industry in a different light.
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‘Baby Shark’ to bite into P2E pie with planned mobile game
The beloved Pinkfong Baby Shark franchise is getting its own blockchain-based play-to-earn (P2E) game, set for a worldwide release in the first half of this year, South Korean developer CityLabs announced on Thursday. Fast facts The Baby Shark Bubble Pong Friends game has been teased as a bubble-shooter puzzle game where players transact in cryptocurrencies…
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$10M in NFT money laundering, fraud likely to grow in 2022: report
The two most popular NFT-related crimes, money laundering and wash trading, resulted in illicit profits of US$10 million in 2021, according to a report released Wednesday by blockchain forensics firm Chainalysis. Fast facts While the US$10 million of global NFT criminal activity is relatively small, Chainalysis reported a spike in the use of illicit funds…
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Solana DeFi avoids meltdown as Wormhole loss replaced
Jump Crypto announced that it replaced 120,000 ETH Friday morning Asia time to its cross-chain bridge Wormhole after a US$325 million exploit left wrapped Ether (wETH) in the Solana ecosystem unbacked. Fast facts The hacker was able to exploit Solana’s verification system to mint 120,000 wETH, and use it to funnel at least 93,750 ETH…
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What I learned from my role in digitizing the yuan
CBDCs are vulnerable to hacking and the powers of quantum computing, cybersecurity expert Amnon Samid writes. Central banks must heed the warning.
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FTX to buy Asian fintech Liquid for undisclosed sum
Fresh off a US$32 billion valuation, crypto derivatives exchange FTX Trading said Wednesday it will acquire its Japanese competitor Liquid Group and all its subsidiaries. Fast facts The deal is expected to close in March, according to a Liquid release. “Following FTX’s acquisition of Liquid, Quoine will gradually integrate FTX’s products and services into its…
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Will blockchain’s future be cross-chain or multi-chain?
Vitalik Buterin caused an uproar over his recent criticisms of blockchain bridges. Here is a rebuttal in support of this nascent technology.
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India crypto tax: Exchanges cheer, investors jeer
A 30% tax doesn’t legalize cryptocurrencies but exchanges no longer worry about a ban, while investors would pay taxes at twice the rate of other asset gains.
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Indian crypto tax ends fears of ban as investors brace for impact
Top blockchain and crypto news: New Delhi’s crypto give and take. Malice in Wonderland? Hong Kong’s selective spot ETF rules.