One of the blockchain projects closely linked to the disgraced entrepreneur Sam Bankman-Fried is resurfacing, almost a year after his crypto empire collapsed, bringing relief to the digital-asset industry overshadowed by his downfall. Solana’s SOL token has gained about 340% to $41 in 2023, outpacing market bellwether Bitcoin’s 114% gain and emerging as the best-performing token among the major cryptocurrencies tracked by Bloomberg. That follows a 94 percent drop last year when Bankman-Fried’s FTX and Alameda Research — two major backers of the project — collapsed into bankruptcy. We are…

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In today’s digital era, cybersecurity experts recommend using a password manager to efficiently handle numerous passwords for various platforms and generate strong, complex passwords. However, what if the password manager becomes vulnerable to hackers? This is precisely what occurred with LastPass, a password manager app owned by GoTo. On October 25, a group of cybercriminals targeted at least 25 LastPass users, resulting in the theft of over $4.4 million in cryptocurrency. Let’s delve deeper into the details. LastPass Hack: What Happened Popular password manager LastPass has become the latest target…

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In today’s digital era, cybersecurity experts recommend using a password manager to efficiently handle numerous passwords for various platforms and generate strong, complex passwords. However, what if the password manager becomes vulnerable to hackers? This is precisely what occurred with LastPass, a password manager app owned by GoTo. On October 25, a group of cybercriminals targeted at least 25 LastPass users, resulting in the theft of over $4.4 million in cryptocurrency. Let’s delve deeper into the details. LastPass Hack: What Happened Popular password manager LastPass has become the latest target…

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On Monday, FTX co-founder Sam Bankman-Fried is expected to endure a challenging cross-examination following his previous testimony on Friday, where he admitted to making errors but denied any involvement in fraudulent activities that caused the downfall of the cryptocurrency exchange. Bankman-Fried was questioned Friday by her own attorney, and she used her time on the stand to offer alternative explanations for the actions prosecutors have called evil. The lawsuit against Bankman-Fried centers on alleged fraudulent transfers of billions in FTX client funds to a hedge fund affiliated with Alameda Research,…

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CoinDCX, a domestic exchange in India that was valued at over $2 billion before the implementation of a tax, suggests that the tax, which has severely impacted digital-asset trading in the country, should be reduced as it has proven to be ineffective. The government imposed a 1 percent TDS tax on crypto transactions 16 months ago, saying the aim was to track buying and selling rather than raising revenue. But the fee diverted 95 percent of India’s trading volumes to foreign platforms that are difficult for local authorities to monitor,…

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During his trial on Friday, Sam Bankman-Fried, the founder of the defunct cryptocurrency exchange FTX, testified that although he may have made errors, he vehemently denied any allegations of fraud or customer theft. “I made a bunch of little mistakes and a bunch of big mistakes,” the crypto wunderkind once said in response to a question from one of his lawyers, Mark Cohen. “By far the biggest mistake was not having a team dedicated to risk management,” Bankman-Fried said. We are now on WhatsApp. Click to join. His high-stakes decision…

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Prosecutors have submitted screenshots of messages, social media posts, and internal documents as evidence in the historic fraud trial of Sam Bankman-Fried. These materials aim to illustrate how the 31-year-old supposedly masterminded a multibillion-dollar scheme at his FTX cryptocurrency exchange and trading firm Alameda Research. By examining these documents, one can gain insight into the mechanics of the alleged fraud and the inconsistencies between Bankman-Fried’s public statements and private directives to his close associates. Former colleagues — including Caroline Ellison and Gary Wang — gave the jurors insight into how…

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India, with its vast population and growing middle class, is on the verge of a digital revolution in the emerging markets. The decentralized web, known as Web3, is set to revolutionize the way Indian consumers engage with digital services, carry out financial transactions, maintain control over their online identities, and even handle their healthcare. This presents a significant opportunity for technology-driven innovation in the country. Web3 is a significant opportunity for India. According to a NASSCOM report, Web3 investments in India have been over $1.3 billion since 2020. With mass…

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He emerged as the prominent figure in the world of cryptocurrency, despite his young age. He was adored by the media and appeared to have a promising future in bringing the industry together. But Sam Bankman-Fried’s spectacular rise to prominence and wealth would be matched by his spectacular fall, and with it, his platform FTX. Within a few months, the Massachusetts Institute of Technology physics graduate had taken the startup he founded in 2019 and built it into the second largest crypto exchange platform in the world. He quickly became…

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After experiencing a peak that made it the top-earning service provider in decentralized finance, a once-exciting social-media project for digital-asset traders is now losing its momentum and fading away during an otherwise uneventful summer. It’s called friend.tech, a blockchain-based platform that allows users to buy and sell digital tokens linked to their favorite influencers on X (formerly Twitter), which act as a gateway to communicate with other supporters in dedicated group chats. Early contributors to the platform include crypto personalities such as Cobie and HsakaTrades, as well as Milwaukee Bucks…

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The international launch of Worldcoin has caught the interest of privacy regulators globally, leading to the indefinite shutdown of the service by the Kenyan government. The international ID startup, which is backed by the big names of Silicon Valley, now has to defend itself in investigations about whether the biometric data collected by the company is really safe. Here’s what you need to know about Worldcoin and the concerns it raises: WHAT IS WORLDCOIN? Worldcoin is the creation of Sam Altman, best known as the CEO of OpenAI, a company…

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The interior ministry of Kenya has halted the operations of Worldcoin in the country, while local authorities investigate the potential security and data protection concerns linked to the cryptocurrency project that utilizes eyeball scanning. “Government has immediately suspended the operations of Worldcoin and any other entity that may similarly engage with the Kenyan public until relevant public agencies confirm that there is no risk to the public,” Home Affairs Minister Kithure Kindiki said in a statement on Wednesday. Worldcoin – which launched last week – is an attempt to create…

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According to a senior manager from the company behind the Worldcoin project, they plan to broaden their operations in order to attract a larger user base worldwide. Additionally, they have intentions to offer their iris-scanning and identity-verification technology to other organizations. Worldcoin, founded by OpenAI CEO Sam Altman, launched last week and required users to provide their iris scans in exchange for a digital ID and, in some countries, free cryptocurrency, as part of plans to create an “identity and finance network.” Sign-up sites around the world have had people…

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