Security firms seek to make it more difficult for scammers to get away with DeFi project hacks

The rise of community-oriented blockchain security companies may be making it more difficult for alleged bad actors to get away without a trace. Early Wednesday, CertiK issued a community alert regarding Flurry Finance, where its smart contracts were allegedly breached by hackers, leading to $293,000 worth of funds being stolen. Shortly after the incident, CertiK published the wallet addresses of …

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Former SEC official predicts regulator ‘will lose on the merits’ of case against Ripple

A former executive from the Securities and Exchange Commission believes the regulator has a good chance of losing its $1.3 billion lawsuit against Ripple “on the merits” of the case. Attorney Joseph Hall also voiced concerns over what the SEC’s endgame could be regarding the high-stakes case against Ripple (XRP), which will have ramifications for the entire industry. The lawsuit …

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Grayscale launches campaign to encourage public comments on Bitcoin ETF application

As the U.S. Securities and Exchange Commission is considering whether to approve or deny asset manager Grayscale’s application for a Bitcoin spot exchange-traded fund (ETF), the firm has called on American investors to submit comments to the regulator. In a Tuesday Twitter thread, Grayscale CEO Michael Sonnenshein announced the launch of an advocacy campaign for U.S.-based investors to speak their …

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Crypto trading firm Amber valued at $3B after big Singaporean investment

Crypto finance service provider Amber has landed a valuation of $3 billion following a funding round led by Singaporean state-owned investment firm Temasek Holdings.  Amber Group was able to raise $200 million in its Series B+ funding round as revealed in a Feb. 21 announcement. Other participants included Sequoia China, Pantera Capital, Tiger Global Management, Tru Arrow Partners, and Coinbase …

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CA lawmaker introduces legislation to accept crypto as payment for govt services

California State Senator Sydney Kamlager, representing the 30th Senate District, which includes parts of downtown Los Angeles, has introduced a bill that would amend the state’s code to allow for the acceptance of cryptocurrencies for certain payments. According to Senate Bill 1275 introduced in the California Legislature on Feb. 18, Kamlager proposed authorizing a state agency “to accept cryptocurrency as …

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KB Bank to launch South Korea’s first crypto investment fund

Kookmin Bank is preparing to become the first bank in South Korea to offer crypto investment products to retail investors.  KB announced on Feb. 21 that it had formed a Digital Asset Management Preparatory Committee to determine product and strategy capabilities regarding digital assets and artificial intelligence investment funds. The bank expects to launch crypto exchange-traded funds (ETFs) and futures products. …

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Want to weed out ransomware? Regulate crypto exchanges

Just between July 2020 and June 2021, ransomware activity soared by a whopping 1,070%, according to a recent Fortinet report, with other researchers confirming the proliferation of this mode of extortion. Mimicking the prevalent business model of the legitimate tech world, ransomware-as-a-service portals popped up in the darker corners of the web, institutionalizing the shadow industry and slashing the skill …

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