For cryptocurrency to achieve mass adoption, breaches that can be easily prevented — like the phishing attack that resulted in OpenSea losing $1.7 million — need to end. In February 2022, OpenSea fell prey to a major phishing attack that resulted in over $1.7 million in nonfungible tokens (NFTs) being stolen from users. It wasn’t the only incident: Blockchain…

DeFi protocols have seen significant growth in total value locked in January, with Lido Finance leading the charge. Decentralized finance (DeFi) protocols experienced a boom in total value locked across different staking pools in January. The market hit $74.6 billion worth of staked assets, increasing by 26% from December. In its latest monthly report, DappRadar…

During a Q4 earnings call, Mark Zuckerberg said he saw no reason to deviate from the company’s long-term metaverse strategy. Meta founder and CEO Mark Zuckerberg says the company has no plans to change its long-term strategy for the metaverse, despite operating losses for its Reality Labs business peaking in 2022. Meta on Feb. 1 released earnings showing that…

The government department said it would impose “full blocking sanctions” on Jonatan Zimenkov and his crypto addresses due to his connections with a sanctions evasion network. The Office of Foreign Assets Control of the United States Department of the Treasury has added two cryptocurrency wallets allegedly connected to a Russian sanctions evasion network as part…

While the rate increase was expected by the markets and Jerome Powell indicated more increases will come, the market has reacted positively to the Fed chairman’s comments. The price of Bitcoin broke through the $24,000 ceiling and the total crypto market cap jumped nearly 4% after United States Federal Reserve Chair Jerome Powell indicated that inflation…

A report suggests companies are able to register in the U.K. very easily, making them appear more credible to potential scam victims. The United Kingdom is host to at least 168 companies accused of running fraudulent crypto or foreign exchange (forex) scams, according to an independent analysis. A joint investigation by media firms the Bureau of Investigative…

Randall Crater was ordered to pay back the millions lost by victims of his fraudulent crypto scheme and spend 100 months in jail followed by a three-year supervised release. Founder of “My Big Coin” Randall Crater has been sentenced to 100 months in prison and ordered to pay over $7.6 million to the victims of…

The SEC was hoping to seek affirmation on an ambiguous injunction after scoring a victory during a hearing in November 2022, but judges made it clear that the judgment was only for the direct sale. The United States Securities and Exchange Commission (SEC) admitted on record that the sale of LBRY Credits (LBC) tokens in…

A recent study from deVere Group found a majority of their clients had asked their financial advisers about adding crypto to their portfolios. Despite a challenging year for crypto, 82% of millionaire clients had looked into investing in digital assets such as Bitcoin in 2022, according to a recent poll conducted by financial advisory firm deVere…

Twitter’s upcoming payments tool will initially support only fiat currencies, but Elon Musk wants it built to potentially support crypto in the future. Twitter chief Elon Musk has reportedly instructed his developers to build the platform’s payments system in such a way that crypto functionality can be added in the future. According to a Jan….