Lilian Nurieva, the former network head of Russian cryptocurrency investment fund Finiko, has been sentenced to three years in prison for defrauding individual investors and participating in a criminal organization. The $55 million pyramid scheme is considered the second-largest financial fraud in Russian history after the collapse of the Soviet Union by the Federal Foundation for the Protection of Investor and Shareholder Rights. Cryptocurrency investment fund turns into Ponzi scheme In 2021, Russian authorities began investigating ‘cryptocurrency investment fund’ Finico on charges of fraud and organized crime. According to the investigation, the fund was a Ponzi scheme that siphoned off…
Author: Crypto Flexs
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Blockless, a decentralized physical infrastructure network (DePIN) project focused on providing computing power support, announced that it has raised $8 million in pre-seed and seed funding rounds.NGC Ventures led the $3 million pre-seed round, while M31 Capital and Frachtis (a new fund formed by Xavier Meegan, chief investment officer at staking firm Chorus One) co-led the $5 million seed round, Blockless said. It was revealed on Tuesday. Other investors in both rounds include No Limit Holdings, MH Ventures, Interop Ventures and Plassa Capital, Blockless said.The project closed its pre-seed round in March 2022, but is now taking it public along…
Hackers exploited Gala Games’ smart contracts to mint 5 billion tokens worth $200 million, some of which were converted to Ethereum. The post Gala Games hits $200 million in internal jobs appeared first on Crypto Briefing.
If we do the research, you can get alpha!Get exclusive reports and key insights on airdrops, NFTs, and more! Subscribe to Alpha Reports now and enjoy the game!Go to Alpha ReportThe price of Gala Games (GALA) tokens plummeted on Monday after attackers minted and leaked 5 billion tokens through the Gala smart contract. The value of swiped tokens at the time of the attack was approximately $240 million.Ultimately, the attackers sold 600 million tokens through the decentralized exchange Uniswap. This was worth approximately $29 million worth of tokens at the time of the attack. While selling was in progress, the…
According to linea.mirror.xyz, Linea has launched Linea Surge, a multi-part initiative designed to increase liquidity and total value locked (TVL) on Linea’s layer 2 (L2) blockchain network. The Surge introduces LXP-L, a new token that rewards users for holding assets on Linea and provides bonuses for leveraging those assets through partner protocols. StationX, an on-chain capital reconciliation protocol, is emerging as a key player in Surge. StationX and Surge StationX provides users with a way to engage with diverse communities and experiment with new DeFi strategies. StationX’s stations allow on-chain communities to pool resources, collectively…
Astar zkEVM is working to strengthen the ecosystem growth. As part of this effort, the network has partnered with Sequence to launch a product. The network is also offering subsidies to further incentivize developers. Astar zkEVM launched on March 6 as the first Ethereum Layer 2 connected to Polygon’s AggLayer and has since been working to solidify its position as a leading Layer 2. As part of this effort, the project made the following announcement just 24 hours after launch: Our partnership with Pyth Network provides secure, real-time data to dApps. The project announced a new product in collaboration with…
Finding the next cryptocurrency investment means jumping into projects that have real growth potential. Solana, Arbitrum, BlockDAG It’s more than just a popular name. They are pioneers making important developments in the cryptocurrency space. Solana is growing with strong institutional support, Arbitrum is at the forefront of Uniswap’s layer 2 solutions, and has differentiated itself with BlockDAG’s cutting-edge approach and incredible pre-sale success of $28.5 million. These cryptocurrencies have paved the way for significant growth, making them top candidates for anyone looking to invest in the future of digital currencies. Let’s take a look at why it’s the best cryptocurrency…
index Digital currency trends may constantly change, but Brazil appears to have solid support with an innovative spirit and direct regulatory approach. This supportive environment has led to a boom in cryptocurrency purchases in the country, with cryptocurrency imports reaching $14.8 billion over the past 12 months as of March. Amid this growth, Coinbase, one of the world’s leading cryptocurrency exchanges, has made significant progress in Brazil. Labeled a “Go Deep” market in Coinbase’s growth strategy, Brazil’s large, tech-savvy population aligns perfectly with the company’s vision. Mike Ermolaev spoke with Fábio Plein, Managing Director of the Americas at Coinbase, to…
The price of Bitcoin rose more than 8% and surged above $70,000. BTC is now consolidating gains and showing further upside in the near term. Bitcoin started a new rally above the $70,000 resistance zone. The price is trading above $79,000 and the 100-hour simple moving average. The hourly chart of the BTC/USD pair (data feed from Kraken) has a bullish trendline connecting with support at $70,500. Unless the bears break below $68,800, the pair could begin another rally. Bitcoin price rises 8% Bitcoin price has formed a base above the $66,500 level. BTC began a new rally above the…
On May 20, the price of Ether (ETH) surged more than 18% after Bloomberg senior analyst Eric Balchunas increased the odds of approval for an Ethereum exchange-traded fund (ETF) from 25% to 75%. Balchunas noted that the U.S. Securities and Exchange Commission likely faced political pressure because it had little involvement with ETF applicants in its previous stance.source: Eric BalchunasBalchunas said the SEC has reportedly asked exchanges such as the NYSE and Nasdaq to update their filings, although there has been no formal confirmation from regulators. Nonetheless, Nate Geraci, co-founder of ETF Lab and president of ETF Store, said a…