Are You Waiting for the Perfect Time?
Just wait until the perfect time comes. Then you start your journey. If you think like that and wait for the perfect time, read the post till the end.
If you are waiting for the perfect time to start anything, that perfect time never comes. If you really want to do something, don’t wait. The time you spend just pondering, you will never get that time. Besides family and health, the most valuable asset is time. Successful people understand it very well and take action instead of procrastinating.
So what to do? What action should you take to achieve your goals? Sometimes the path to achieve your goals may be a little confusing. The good news is that we all have access to a magical tool that works like a magic. It’s called Google. Just google it, you will get it there. Don’t worry too much. You will never have a perfect time for anything.
"If you spend too much time thinking about a thing, you'll never get it done." - Bruce Lee
You are motivated to get started, but you might lose your motivation in the way when you don’t get the results fast. Imagine and talk to your future self a year from now or five years from now. Remind yourself why you started this. You will be motivated again to move forward. You have to fall in love with the process. The reality is daily activities and consistency adds up more than any massive move in the long run. You have to push yourself from your comfort zone to get the result that you always wanted.
What holds you back in your life?
Everyone has a dream. When we are kids, we all want to do something in life. We love to visit our dreamland and create a land of happiness.
When we grow up, we realize the reality. As an adult we have a lot of responsibilities, we have to take care of our parents, kids, and spouses. We cannot move and follow our passion. In the end, we have to give up our dreams.
We have one life. One life means one chance. Do you like to regret when you are old? No, you do not want to do that. You came here to live. So, live the life the way you want. Don’t fall into the trap with something that you don’t want for yourself. Do not do it just to please somebody. There is always someone who is faster than you, smarter than you, but no one will ever be the exact blend of you. You are unique and that’s your power. You do not have to be someone else to be liked by other people. What you need, that’s already inside you. You just have to feel it. If you can feel it and if you can dream it, you can do it sooner or later.
No one can hold you back. If your thoughts hold you from doing what you always wanted, listen to your heart and let your brain guide you on your way. If you think it’s your parents, your mom or dad, that holds you back or if you think it’s your husband or wife, talk to them. Let them know what you really want to do in life. They surely love you. They always want to see you happy. Just talk to them and you will find a way to move forward. Now there is no turning back. Go and do what you love, what you are passionate about. Find your happiness!
Can Yoga Help With Anxiety?
Are you stressed out, upset or frustrated?
Yoga is always there for you. It can help you to alleviate anxiety and reduce the level of stress.
People who experience anxiety often think about the future that something horrible is going to happen. Maybe they had a bad experience and they think it over and over.
If you are always worried about the past and future, you are no longer control of the present moment. As a result, you cannot take initiative to deal with the thing that you are worried about. In this situation, yoga helps you to be in the present. Yoga teaches you how to take deep breaths to reduce the level of your anxiety.
Anxiety may cause your body to tense up. You usually feel it in the shoulder, neck, and back. If you do yoga, your body will be relaxed, more free and release that tension. Yoga poses help you sleep better. Yoga increases blood flow in your body. When you feel like losing control, yoga puts you in a state of mind where you have more control over your body and mind. It increases self-confidence.
When you are anxious or stressed out, take a deep breath. You know it’s on your head. Calm down!
Do yoga, relax, smile and always be happy!
Is Your Mindset Blocking Your Path to Success?
What you think and how you react to a particular situation can make or break you. Yes, I’m talking about mindset. Are you trying to find shortcuts or easy way to get your dreams come true? There are challenges, obstacles and limitations in every path you choose to go. Let’s face it. If it is easy, everyone can do it and become successful. The path to success is not a bed of roses.
Nowadays we are exposed to perfect lives of social media and we easily get into a trap of comparing ourselves to others and feeling less worthy every time we scroll down our feed. And you start thinking you are not good enough. You can’t get success up to their level. As a matter of fact, you don’t have to be like them. Just be yourself. No one can replicate that. That’s the most powerful thing ever.
If you got rejected by a client, company, or person, that doesn’t mean you are good for no one and you will keep on being rejected in the future. Don’t let previous rejection hold you back. You will be the perfect fit for somebody else. Maybe you just have to come up with a new approach or new strategies. There are people or company out there who would benefit from having you in their life or in their company. You will never know that if you give up.
The truth is that hustling, hard work, sleepless nights, mistakes, failures are part of the journey. You have to face it. The difference between successful people and not so successful people is that successful people also had difficulties, mistakes, and failures, they had to go through tough times when it seemed like an impossible dream to chase, but they did not give up, always tried their best to find a way to get there.
Get your mindset right and keep hustling! It’s just a matter of time to make your dreams come true if you never give up, no matter what!
DeFi Platform Frax Finance DNS Domain Was Hijacked
You type the right address and the platform shows up. You may not check the address again. The website interface looks the same, so there is no doubt in your mind. Still is it possible that you are on a malicious site?
There was a problem in the decentralized cross-chain protocol Frax Finance domain. It redirects to a malicious site that is similar to the original one. Users may think you are on the original site since they typed the right address. Unfortunately, Frax Finance's domain was hijacked and hackers redirected it to the malicious site.
Frax Finance founder Sam Kazemian tweeted about it on social media X and warned people about it. The platform requested users not to use frax.finance and frax.com domains until it is fixed and they take control over it. Hackers somehow managed to hijack the Frax Finance's Domain Name System (DNS).
It is not clear how the attackers took control and got unauthorized access to make this happen. It is speculated that hackers might have done social engineering to get unauthorized access to it. Criminal actors apply different tactics to get personal sensitive information that helps them to hack and trick people into falling into their traps.
The Frax Finance team did not know how it happened and it may not be something like a compromised password or email. The good news is that the team took control of the domain and their domain registrar name.com helped them in this process. The domain registrar will do a full investigation of this hijacking incident. Then we may get more information about it.
It is challenging to stay safe when you witness so many hacks and scams going on. You just do not pay attention to something and connect your wallet to interact with the platform or make some mistakes. And that can lead to getting access to your crypto wallet and the attackers drain your wallet in the blink of an eye.
DeFi platform Frax Finance is not the first one to become a victim. Decentralized Finance (DeFi) protocol Convex Finance's DNS server was hijacked and the attacker redirected it to a malicious site. Again the malicious site looked exactly the original site. It is difficult to detect seeing the site interface.
Convex Finance had to set up a new website address after losing access to the original URL of its platform. Even though the team wants to do their best to secure the platform, things like this could happen and users might end up losing financially. There is no alternative to stay vigilant in this crypto space.
Image Sources: 1.
Reference: 1. https://twitter.com/fraxfinance/status/1719497560543658073 https://crypto.news/hackers-hijack-frax-finance-dns-domain/
Is Bitboy $4k Indicator A Scam?
Blockchain enthusiast and detective ZachXBT calls out crypto influencer Bitboy for selling indicator. He is selling the indicator for $3,999 and then giving access to a paid group named High IQ. The indicated is claimed to be a leading indicator with a proven strategy.
ZachXBT raised the question about this. If he was profitable in trading with the help of the leading indicator with a proven strategy, he was supposed to make a lot of money. Then why did he ask for donations and claim to have nothing?
Since he is selling the indicator, that is supposed to be effective in making money. What stops him from making a lot of money in trading with the magical touch of his indicator? He did not have to ask for donations then.
Crypto influencers are popular and people follow them. When Ben asked for a donation, he received $59K. Now some people might buy the indicator from him believing what he claimed. Some so-called crypto influencers are so popular because a lot of people follow them.
Influencers can sell anything but what you will buy, it is up to you. Bad actors take advantage of others' lack of knowledge and push their agenda. People end up losing their money falling into their traps. Some experts and influencers in the crypto community share their knowledge and experience. I love and respect them.
You can learn from other people. It will help to make the right decision, and you may not fall for obvious scams. If you want to do trading, you need to learn and practice that first. Then you apply it and see the result. In case you see trading is not for you, you can do many other things in crypto to make money.
If you do well in crypto trading, that's great, go for it. What we have seen in crypto so far, that's just the beginning. Let's explore and move forward.
Image Sources: 1.
Reference: 1. https://pixabay.com/photos/blur-chart-computer-data-finance-1853262/ https://crypto.news/zachxbt-alleges-bitboy-4k-indicator-is-a-scam/
Scammers Trick People Using Clone News Outlet Website
You read crypto news on popular crypto news websites and you trust those news media. When you see any news on a reputed site, you will definitely act on it. Anything can happen in crypto and scammers can spread fake news in different ways to trick people into falling into their traps.
Scammers created a fake Blockworks website that looks exactly like the original one. People who visit the website somehow without checking the URL may think they are on a legitimate and real website. Scammers published the fake news of multimillion-dollar approvals exploit on Uniswap.
Criminal actors spread this news on Reddit by publishing it over there using compromised accounts. They hacked or somehow compromised those Reddit accounts. This news spreads quickly. People want to see what actually happened and do something to secure their crypto assets.
Scammers created a fake Etherscan website. If the potential victim visits that fake site and interacts with it, scammers may get access to their wallets and drain their funds. When victims realize that they have made a huge mistake, it will be too late to fix it. It is because hackers have already stolen their funds.
Hackers created these websites recently to deceive people and the potential victims will automatically fall into their traps. Scammers set up the tools that will do their job to steal money from victims. In this case, they bought the fake website domains recently to launch this attack. When you visit any site, do not just be convinced by seeing the site's outlook.
Another scammer created a fake Decrypt website. Again the intention is to trick people and steal their cryptocurrencies. Decrypt and Blockworks scammers are different persons. You can pay attention to the URL to make sure that you are on the right website. Before interacting with any site and connecting your wallet, be careful about that.
Scammers can drain your crypto wallet. So don't do something out of panic. Stay calm and then make your move to do anything in crypto.
Image Sources: 1.
Reference: 1. https://pixabay.com/photos/touch-screen-mobile-phone-ipad-1023966/ https://cointelegraph.com/news/fake-uniswap-37m-approval-exploit-phishing-scam-blockworks
Ledger Launches Private Key Recovery Service
Crypto hardware wallet manufacturer Ledger has launched cloud-based private key recovery services in spite of criticism from the crypto community. Many people lost their cryptocurrency and it's gone forever due to losing their private key. If you do not have the private key anymore, you cannot get access to your crypto wallet.
Ledger came up with a cloud-based private key recovery service that will help to recover the secret seed phrase in case users forget or lose it. It sounds good to hear but it is not. The whole purpose of using a hardware crypto wallet is to get the highest level of security.
People in the crypto community did not like the idea of recovering private key like this. It can leave the private key in a vulnerable position. People often hear that the private key does not leave the crypto hardware wallet. Introducing this recovery feature, users have the option to use it and other companies associated with providing this service will hold a portion of the encrypted component of the key in a secure way.
Ledger's private key recovery feature is a subscription-based service and you have to pay $9.99 monthly or $120 yearly. It is up to the users whether they will take monthly or yearly subscription. If users cannot pay for a subscription, it will be suspended. Then users will have nine months to reactivate the subscription again.
In order to provide this service, users' private key will be encrypted and segmented into three parts. Then each part will be sent to three companies - Ledger, Coincover, and EscrowTech. A single company will not have access to the entire backup and they will maintain the highest level of security.
Users will have to provide ID documents and selfi recordings to verify their identities. How do you feel about their identity verification procedure? I do not like this. it is terrible. They say ID checks are not like KYC because you need to provide less information.
If you use Ledger and do not like this private key recovery service, you do not have to use it. It is completely optional and you can use Ledger like you did before, according to Ledger’s chief technology officer Charles Guillemet. I don't think people will trust Ledger the way they did before.
Introducing this feature, Ledger may get subscription fees, and that will add to their revenue but will their user base increase? The crypto community highly criticized Ledger's move, still, they finally launched this service.
Image Sources: 1, and 2.
Reference: 1. https://pixabay.com/illustrations/bitcoin-coin-money-electronic-money-4401252/ https://pixabay.com/photos/blockchain-bitcoin-finance-currency-3253777/ https://cointelegraph.com/news/ledger-cloud-private-key-recovery
Did DeFi Protocol On Solana Quit UK Market?
When you hear about any decentralized finance (DeFi) protocol, you get positive vibes that you can use the protocol from anywhere in the world. You usually do not expect any sort of restriction or ban on the Decentralized Finance protocol. As the name says it's decentralized, so it is supposed to be open to everyone.
The popular and largest Decentralized Finance (DeFi) protocol on Solona Marinade Finance started blocking users from the United Kingdom. Not only Marinade Finance but also Orca Finance on Solona blockchain put restrictions on UK users.
Users face problems accessing Marinade Finance and Orca Finance. They see a message that the site is not available in the UK due to the latest rules and regulations of the Financial Conduct Authority (FCA). It is also mentioned in the message that existing users can withdraw liquidity, claim delayed tickets, and manage it via the software development kit (SDK).
Marinade Finance's total value locked (TVL) is more than 5 million. This DeFi protocol has over 75,000 users now. This is not a good sign when users in a specific region go through restrictions and bans on the Decentralized Finance (DeFi) protocol. It questions the main theme of how decentralized the DeFi protocol is.
There are new guidelines from the U.K. Financial Conduct Authority (FCA) about promoting fair, clean, and transparent advertisements of crypto-based services. It has to give warnings that people can understand while making any promotion about crypto. It has to be honest, clear, and fair. Crypto companies must follow the FCA's guidelines to operate their business.
The most popular centralized crypto exchange Binance stopped accepting users from the UK. It is temporary and the exchange is looking for a new FCA-authorised approver. PayPal also halted cryptocurrency transactions for UK users. Crypto companies have to adapt to new guidelines and comply with new rules and regulations.
Some countries go hard on crypto and they do everything to make it regulatory compliance. If any country goes to the extreme level and drives crypto companies away from the country, that will be a big mistake. Most countries will accept crypto. People want crypto because they see what crypto can bring to their lives.
Putting restrictions and unfavorable conditions can create challenging situations, but that's temporary. Crypto will evolve and move forward at its own speed. The future will be exciting for crypto. So are you ready to be a part of this adventurous journey?
Image Sources: 1, and 2.
Reference: 1. https://pixabay.com/photos/bitcoin-blockchain-currency-3411309/ https://pixabay.com/photos/btc-bitcoin-cryptocurrency-currency-6272696/ https://cointelegraph.com/news/defi-solana-marinade-uk-regulations
How Comfortable Are You Getting Involved In Centralized Crypto Platforms Earn Program?
Crypto gives great opportunities to make money. You can make passive income from crypto and there are many options. Many people get involved in crypto. They see how they can build their wealth in this industry. Centralized crypto platforms offer different opportunities to earn from crypto.
People notice the high volatility of the crypto market. They try to find safe options to generate income. Since centralized platforms offer earn programs, it seems that is safe. They do not have to do trading or engage in any risky activity. The platforms do everything for them. Users have to deposit crypto to their platforms and earn interest.
Crypto exchange Gemini operated an earn program where customers can deposit their crypto assets and generate income. Many people trust Gemini and it has a high reputation. Gemini made a partnership with Genesis Capital to offer this earn program. Genesis Capital managed the funds and we know what happened later.
Genesis was in trouble and faced a financial crisis after the collapse of the crypto exchange FTX. Gemini was aware of the financial condition of Genesis Capital but did not inform the investors who invested in their earn program. Investors funds were at risk and it ended up pretty bad.
People who put their crypto in Gemini earn program are in trouble. They may not get their crypto any time soon. New York Attorney General Letitia James filed a lawsuit against Gemini Trust, Genesis Capital, and Digital Currency Group for a billion fraud scheme. No one can tell how long it would take to resolve this by going through legal procedures.
Gemini earn program is just an example. We have Celsius, Voyager, BlockFi, and so on. They come up with cool slogans like bank is not your friend. They give vibes like their platform is like a bank and they are your friends. They do not reveal accurate information, lie to investors and customers, and mishandle investors' funds.
Everything comes to light at the end, but investors already lost their crypto assets. I do not think centralized crypto platforms that offer interest in crypto and different earn programs are as safe as they seem. Anything could happen and that crypto platform can be affected because of directly or indirectly related to that incident.
You have to decide how you are going to manage your risk and invest in cryptocurrency. You need to spend time doing your analysis and consider the potential risk you have to bear to invest anywhere in crypto.
Image Sources: 1, and 2.
Reference: 1. https://pixabay.com/photos/woman-crypto-bitcoin-digital-8130373/ https://pixabay.com/illustrations/bitcoin-cryptocurrency-crypto-7828311/ https://crypto.news/gemini-genesis-dcg-slammed-with-1b-crypto-fraud-lawsuit/
FTX Users Get Email That's Possible Withdrawal Scam
Did you use the crypto exchange FTX? If yes, you would probably get some emails. It is okay to get updated information via email. Due to data breaches and shady activity, bad actors might have your email address and other personal information. So you can get emails from criminal actors.
Recently FTX users received emails offering priority withdrawal options. Many people lost their crypto assets in the FTX collapse. Their funds are locked. Hopefully, users will get their funds back, even if they get their funds, no one can tell how long they have to wait for that.
If they get an offer to get their funds back without going through any waiting period and court procedure, that can be great. And FTX users got an email from FTX Trading, West Realm Shires Services and FTX EU or they claim to be that. They offer to deposit the assets directly to the wallet without any waiting period and court outcome.
Scammers and hackers can pretend to be trusted entities offering support, but they will make users get into more trouble. They can send scam emails with phishing links. Once users open the mail to click the link or download anything, scammers can take control and steal users' funds. You cannot predict how extend it could lead to and hurt victims financially.
Most of us use centralized crypto exchange. If something happens to the crypto exchange like hacks, data breaches, and bankruptcy, you can easily guess that users will lose their crypto assets. That is not the full story. Users' personal sensitive information can be leaked and out there in the dark marketplace. For example, FTX hacks and user data breaches. Now they get emails that could lead to the next phishing attack.
When victims already lost their crypto assets, criminal actors are out there to cause them more pain. Criminal actors target those victims to steal their remaining funds and hurt them more. The information scammers get like email addresses, that is valuable for them. It means people who use FTX are into crypto and they have more cryptocurrencies.
Beware of any email you get offering to recover your crypto funds fast. Fellow the official news and verify the information before taking any action. It is better not to open or click any link in the email that seems suspicious. Crypto gets more attention and it attacks scammers, hackers, and criminals as well. Watch out and stay safe.
Image Sources: 1, and 2.
Reference: 1. https://pixabay.com/illustrations/scam-phishing-fraud-email-attack-3933004/ https://pixabay.com/photos/hacking-cyber-blackandwhite-crime-2903156/ https://cointelegraph.com/news/ftx-clients-face-deceptive-priority-withdrawal-scam
How Do You Feel About Buying The Dip?
Do you follow any strategy when you buy cryptocurrency? You often hear about buying the dip. Every time the crypto price goes down, you buy the dip and think you will make a profit when the price rises. You can do well buying the dip, but which crypto you are buying and when you are buying the dip, that is most important.
Bitcoin is doing better to hold its position. BTC's dominance is increasing. How about altcoins? Altcoins' dominance is not going up. BTC gets more attraction and that is considered the safest crypto asset. Investors tend to move to risk-off assets when the market dynamics change and move to the downtrend.
Most altcoins' prices kept falling over time so far except for some altcoins. Some altcoin prices rallied and that's an exception. The altcoin dominance is down. When you buy the dip, the altcoin price goes up and then the price falls further. Again you buy the dip.
At some point, you think you could do better if you did not buy the dip before because the price falls consistently. You could have bought more coins later with the same amount of fiat currency. Are you making some mistakes or is there something you do not understand yet?
DCA (Dollar Cost Averaging) is a great strategy that many people follow. People who do DCA on Bitcoin are doing better so far. On the flip side, people who did DCA on altcoins may not see their portfolio green yet. Some people may not take it anymore when they see the price keeps going down and end up selling their crypto.
It is not all about buying the dip, which crypto you are buying, and how long you plan to hold it are very important. Some people may throw some money in altcoins and they do not care if it goes to zero. You may not think like them. Investors think seriously about their crypto investments and how much risk they are taking.
People usually get scared when they see how much they lose after the crypto price drops. You will not lose anything until you sell. That's why, it is also important how long you will hold crypto assets. BTC gets more attention, investors will pay attention to the altcoins at some point. Then we will see altcoins' dominance going up.
People's decision-making and mindset are different. You decide how much you will allocate to the crypto assets. Some people are more serious about protecting themselves and they prioritize investing in crypto assets lowering the risk. It is up to you how you approach and make your move in crypto.
Image Sources: 1, and 2. https://pixabay.com/illustrations/speculative-stocks-trading-crypto-7164581/ https://pixabay.com/photos/crypto-bitcoin-blockchain-6699526/
Are Some People Forced To Scam Others?
Everyone agrees that scamming and stealing others' money is a terrible thing. Scammers are bad people, otherwise, they would do this to steal other people's hard-earned money. They need money, and they can work for that. Do they make people fall into their traps intentionally?
Many things happen behind the scene. Sometimes some people are forced to scam others. They want to make money like everyone else without doing anything to scam others. But they fall into big scammers traps and now they are bound to do this.
So how do these people fall into scammers' traps? They do not find good job opportunities in their home country. They hope to get better job opportunities in foreign countries and that can change life. They have a family. They want to support their family and see smiles on their face.
There are fake job ads. Some bad actors inspire them to go to a foreign country and work with them. When those people see good job opportunities where they will get a lucrative salary, they decide to follow their instructions to go abroad.
After going abroad to work in the company, they realize that's a scamming company that does nothing but scam others. They are trapped. They have no option except do exactly what big scammers say. Big scamming company forces them to scam other people. They have to go through physical and mental torture if they do not do that or fail to fulfill their target in time.
FBI found this in their investigation and warns about fake job ads that are related to labor trafficking. It is also revealed that victims are forced to commit crimes and get involved in cryptocurrency investment fraud schemes. They get the offer to work in tech support, call center, or something like that. But their job is to scam others with fraudulent investment schemes.
They have to do that against their will when they fall into their traps. I came across a report recently where some people were rescued and got out of there. Do not jump into grabbing any job offer without doing proper research. Hope no one falls into their traps and is forced to be a scammer to scam others.
Reference: 1 https://cointelegraph.com/news/fbi-releases-warning-fake-crypto-jobs
Is That an Obstacle Or, Opportunity?
Sometimes you think if there are no challenges and obstacles, maybe life will be much better. Can you say for sure what you would get without any challenges will be better? When you compare one thing with another, you may not know what will be the outcome if you take another path.
I started a business. Things went well at the beginning. I thought it would be way better later. Unfortunately, I did not get the support that I thought would get at some point. I did not the result that I expected because of some challenges.
I could say that was bad. In the beginning, you make a plan for how you run and grow your business. What happened later is not under your control. The good thing was, I got better opportunities later. When you face challenges, you will explore more to deal with the challenges. You may find a better solution.
Or, if you figure out this is not the right thing, you can move on to the other thing. Maybe you do not think you are good at a specific field. So you avoid that. Your obstacles and challenges can push you further. You get surprised and happy to see your skills in a specific area.
You discover more things that you can do to bring more positive results to your life. What you think is bad now may give a different outlook. It may challenge your belief system. You will realize what is actually happening behind the scenes.
You can come to a new conclusion that can teach you a lot of things. I think we take action, realize the reality, and get better at what we do. If you do not deal with any challenges, maybe you cannot achieve all of the things that you achieve now.
At some point, you will thank yourself for your actions because you learn from your experience that you cannot acquire in any way. I think this is what makes us stronger, faster, and better.
Image Sources: 1 https://pixabay.com/illustrations/cubes-choice-one-yellow-light-2492010/
People Will Feel More Why It Is So Important To Adopt Web 3
Do you remember your first experience on Facebook? How did you get to know about Facebook? Maybe you heard about Facebook from someone or saw your friends using a website named Facebook. I saw my classmates visiting Facebook first and that's how I got to know about it.
I think you also have a story. You can use Facebook for free and connect with your friends. It is so cool. And you are excited to see what can be done over there. You do not pay money from your pocket to use social media, it does not cost anything, right? You pay it in anything way.
You pay with your personal information and you are doing it for free. Later you realize how social media makes money from your personal information. And that makes them rich. When people are more aware of how it affects their lives, they will look for alternatives desperately.
You see ads and that ad is placed in front of you based on your personal information. You are not surprised anymore about how they get to know which products you are looking for. It is their business, the social media platforms make money, and so do the advertisers.
Your personal information can be used against you. Criminal actors can find valuable information on your social media and target their potential victims. Do you know what you share on social media that can affect your professional life?
When you apply for a job, especially a government job, they verify your information. The concerned authorities especially from the police department come to visit you to verify everything. They can ask for your social media and email address. Or, they already know your social media account.
It shows they will consider what you do on social media. When you post on Facebook, you do not think it would affect your life like this. People will be more careful about when you share and post on social media. You have nothing to hide, it does not mean you will show everything. Everyone cares about their privacy whether they admit it or not.
Image Sources: 1 https://pixabay.com/illustrations/binary-code-privacy-policy-woman-1327493/
How Inflation Affects Your Life
You go to the market for shopping. You see the price of every product increases. To make a living, you have to buy goods and services. You have no options except to pay more to get the product.
When you see something happening over a period of time, you consider it normal. The price of products always goes up. If your income increases according to the rise in lifestyle costs, everything might stay the same.
You want to improve your finances, and it becomes harder to achieve your goals. You estimate today how much money you need in the future. The price of anything you need in the future is completely different that you have today. As a result, you fail to meet the demand.
When people have some extra money, they save that in a bank. They are happy to get more money in the future because of interest. The figure of money increases, but will that amount of money be able to buy the same goods and services that you buy today?
If you think in terms of purchasing power, you may get a realistic picture. You work hard to change your financial situation and it gets harder to do that. You need to hold fiat currency to do different things. But if you hold too much cash, you will only keep losing more.
You have to decide how much cash you will hold and how much you will invest to get a return that will beat inflation. Sometimes you might need money but you do not need it now. You can invest in the short term that will generate return and you can also convert that into cash quickly.
You have to invest a significant portion of your money in the long term. You do not need that and you want to focus on building your wealth. Based on your financial situation, you should make your plan and it will help you achieve your financial goals.
Image Source: 1. https://pixabay.com/illustrations/dollar-100-dollar-bill-2387088/
Binance Lays Off Over 1,000 Employees
The largest crypto exchange Binance laid off more than 1000 employees recently. This was first reported by the Wall Street Journal. According to the Wall Street Journal, as a part of the restructuring of the company, they took action to let go of more than 1000 employees.
Binance has been going through a challenging situation in the United States. The U.S. Securities and Exchange Commission (SEC) sued Binance and its CEO Changpeng Zhao, CZ. It becomes difficult to deal with the situation. Binance faces a difficult situation in other countries as well.
This exchange has to deal with everything and keep running its business. Maybe they think it is better to lay off some employees and be prepared to face challenging situations. Binance is one of the most popular crypto exchanges. Being in an uncertain situation, it is difficult to predict what would happen in the future.
Ripple's victory against the SEC shows it will not be easy for regulators to do things the way they like. Regulators often point out some cryptos as security and play their cards to take legal action. They state that crypto exchanges have to register in a proper way. Without giving clear guidelines, they are more interested in charging a fine or filing a lawsuit against crypto exchanges.
The good news is, it has been clear that XRP is not a security. Now it will be more difficult to prove that other cryptocurrencies are unregistered securities. Several allegations were brought against Binance and CZ. It could put Binance's business at risk in the United States.
Crypto Exchange Binance Exiting Netherlands
The leading crypto exchange Binance decide to leave the Dutch market. They made an announcement about it and this is going to be effective immediately. Binance did not want to exit the Netherlands but failed to obtain a virtual asset service provider (VASP) license.
Due to regulatory scrutiny and a lawsuit against Binance in the United States, the exchange has already been going through a challenging situation. Now they no longer operate their business in the Netherlands. Binance made its move to explore different ways to serve Dutch residents complying with regulators, but it did not work out.
New users cannot open an account in Binance from the Netherlands. Existing customers cannot deposit, buy and trade crypto in the exchange anymore. They can withdraw their funds from the exchange. And Binance requested customers to withdraw their cryptocurrency from their Binance accounts.
The largest crypto exchange Binance was charged with a $3.4 million fine from the Dutch central bank due to operating its business in the country without a license and registration. According to the Dutch central bank, Binance had a large user base in their country and daily trading volume was huge.
Binance still works on expanding its business and sometimes they have to go through a tough situation and things do not work out always. It will not stop their initiative to move forward and grow their business. The good news is, Binance has got regulatory approval in some EU countries including France, Italy, Spain, Poland, Sweden, and Lithuania.
The crypto exchange is ready to comply with local regulators and get approval to obtain the required license and registration to run its business. Things are difficult when regulatory clarity is absent and the intention is to force the crypto exchange out of the country.
Regulators can make crypto-friendly regulations and make it clear what is required to do to run crypto businesses. It will support the crypto industry and investors will not go through uncertain circumstances due to regulatory scrutiny.
Are You Prepared to Buy The Dip?
When you see the crypto market keeps crashing in a bear market, how do you feel? Things are getting so tough that it becomes difficult to survive in a bear market. You get crypto at a low price, but you may not have the funds to buy the dip. You regret it and you wish you would have enough funds to take advantage of the situation and buy the dip.
I think the best thing you can do is to prepare yourself to buy the dip and follow a strategy consistently. If you are so depressed in a bear market or too excited in a bull market, you may fail to take advantage of the situation and prepare yourself for grabbing the next opportunity.
In a bull market, it seems the crypto market will only go up and you see crazy crypto price predictions everywhere. You do not sell your crypto. Even when you see the crypto market crashes hard, you don't want to sell because you think you will lose the potential gain. You wait to sell crypto when the price rises again.
You are disappointed to see the crypto market since crazy crypto price predictions did not come true. Instead, crypto prices keep falling and you are losing due to not selling your cryptocurrency. When you ultimately sell your crypto, it is too late. That's why, you could not make the potential gain that you are supposed to do.
Again when you sell your crypto in a bull market and make a profit, you also forget about the upcoming bear market. You are very excited and happy to see the huge profit. You quit your job or stop doing what you did before. In a downtrend market, you do not generate cash inflow from crypto as you thought before.
You wake up and the reality hits you hard. You underestimate the importance of having consistent cash inflows. You get back to the same old job. Your financial situation does not change much. If you prepare yourself for the bear market, things will be a lot easier. You may not go through a hard time.
You can buy the dip and take full advantage of the bear market to grow your crypto portfolio. You can follow your strategy consistently since you have the funds to take care of other things as well as invest in cryptocurrency.
Image Sources: 1 and 2 https://pixabay.com/photos/hands-holding-bitcoin-gold-btc-4348717/ https://pixabay.com/illustrations/bitcoin-coin-money-electronic-money-4401252/
Binance.US Makes Partnership With MoonPay
If you don't get easy access to transfer fiat into crypto and vice-versa, that is a problem. You want to trade cryptocurrency in the crypto exchange or invest in crypto, but dealing with issues on ramps and off ramps crypto will discourage you. Binance US has made a partnership with crypto payment startup MoonPay and it will enable US customers to purchase USDT stablecoin.
That would be great. US users can use MoonPay to buy USDT and then they can use USDT to buy any cryptocurrencies. MoonPay supports debit cards, credit cards as well as mobile payment systems like Apple Pay and Google Pay. So they can their preferred method of payment to purchase USDT via MoonPay.
Users can sell USDT and convert it into USD. Binance.US suspended USD deposits in the exchange. Some well-known crypto-friendly banks including Silicon Valley, Silvergate, and Signature Bank collapsed which makes it difficult to on-ramp and off-ramp crypto.
The regulatory crackdown on crypto makes the situation more challenging. As you know Binance is facing a lawsuit from the SEC in the United States. Moreover, the Commodity Futures Trading Commission (CFTC) also filed a lawsuit against Binance and the exchange is trying to solve this issue. The crypto exchange has to make tough decisions to deal with ongoing challenges.
Image Source: 1 https://pixabay.com/photos/shaking-hands-handshake-hands-3091906/
Wyre Shutting Down Its Operation
San-Francisco-based crypto payments platform Wyre decided to shut down its operation after running it for 10 years. They started their journey back in 2013. It supports fiat and crypto transactions that can be used to make payments for crypto.
It is stated that there is no regulatory pressure and the reason for winding down its operation is the market conditions. The crypto market shows how tough it could be in a bear market. Many businesses close their operation or lay off their workforce and find a way to survive. It is difficult to run a business when the market shows its toughest phase.
Wyre wants to protect the best interest of their customers and stakeholders, so it decided to close the platform's operation. Customers can withdraw their funds via the platform's dashboard until July 14. After that, they will set up a separate system to withdraw the remaining assets.
Bolt is one of the largest payment service providers that wanted to acquire Wyre. But the deal did not go through and Bolt backed out of acquiring Wyre for $1.5 billion in September 2022. In January 2023, they laid off 75 employees from their firm. It appears things are not going well. It is not easy to absorb the toughest bow of crypto winter.
Even though they say they do not have any pressure from regulatory agencies, regulatory scrutiny shows what could happen in the future. The largest crypto exchange Binance, as well as the popular crypto exchange Coinbase, are in trouble due to lawsuits and regulatory pressure. Any crypto business will think twice before making their moves.
Hope things will change and the environment will be in favor of growing crypto businesses. If any company or individual is willing to acquire the crypto payments platform, Wyre, the door is open. They can contact 88 Partners through email and discuss this.
Looks like only the best crypto businesses will face challenges successfully and survive in a bear market. The future of crypto is exciting. Sometimes you need to step back, adapt and then make your new move to rise and shine.
Image Sources: 1 https://pixabay.com/photos/computer-technology-laptop-company-3324200/
Is There Any Link Between Online Scams and Human Trafficking?
You lose your crypto assets and money falling for online scams. People who are involved in any scams are bad guys. Bad actors launch their attacks and hurt other people financially. Do scammers do this willingly or unwillingly?
Of course, there are many scammers who scam and hurt others financially willingly. Unfortunately, there are people who have no intention to do scams but are forced to do that. They fall for scams and that forces them to be scammers.
A UN report revealed some shocking truth recently. Hundreds of thousands of people who go abroad for work are forced to do online scams. UN human rights experts made their investigation and interviewed victims. It is revealed that hundreds of thousands of migrants become victims of online criminal enterprises and are forced to get involved in online scams.
Even educated people fall for their traps and end up doing scams. Criminal enterprises give fake job ads on social media including Facebook, Instagram, Tinder, and LinkedIn. Unemployed people try hard to get a job. If you are unemployed at some point, you can resonate with the feelings and emotions of that situation.
When they see job ads and lucrative offers, they apply for them. According to job requirements, they have to go abroad and work there. Accepting the fake job, they go abroad and hope to have a bright future. If they are aware of what they are going to face abroad, they will not accept the fake job offer.
They have to scam other people and that's their job. Online criminal enterprises take their passports and force them to do it. They are tortured physically and mentally. They are given a target and if they fail to fulfill that, they go through a terrible situation.
They are beaten and tortured horribly. Others witness this and that's scary. The food and water are limited in supply. They do not get treatment after getting sick. It is not that they do not try to run away, the result of a failed attempt is terrible.
Online criminal enterprises make it extremely difficult for any victim to escape from this. Scammers themselves can be victims of scams and they have to keep doing it in order to survive. Hope no one falls for this kind of scam that ruins their life.
Image Sources: 1, and 2.
Reference: 1. https://pixabay.com/illustrations/scam-hacker-anonymous-7478783/ https://pixabay.com/photos/hack-hacker-hacking-cyber-security-5332845/ https://crypto.news/un-report-links-se-asia-crypto-scams-to-human-trafficking/
Are You Trading Or Investing In Crypto?
You buy crypto to make money. You take entry into the crypto market and hit the buy button whether you invest in cryptocurrency or trade cryptocurrency. Looks like investing and trading in crypto is the same, but it is not.
Have you ever asked yourself whether you are trading or investing in crypto? Maybe you want to do trading, so you buy crypto. Somehow you cannot take profit and exit or take the loss and exit your position. You end up becoming an investor by default.
You just make a huge loss in trading and decide to hold the bag. Then you call it an investment. Before taking any entry and pressing the buy button, it should be clear to you what you are doing. Then you make the plan and execute that.
It is not gambling when you trade and invest in crypto. You can gamble with anything, but you are not here to gamble, I guess. Your mindset is very important because that acts as an operating system. What we learn from mistakes can show light in the future.
Experts say it is a crime not to put a stop loss while trading. Does it seem too harsh? You think you do not need to follow it so strictly. You set a stop loss, the price goes down and hits the stop loss. You exit your position with a small loss. Then the price goes up and hits the target you set.
But you are out of the position after hitting the stop loss. You think if you did not set the stop loss, you could make a profit from that trade. You go easy on setting stop loss later. You make some profit in trading and you are happy to see that.
Are you ready to see the worst results? One trade can cause to lose a significant amount of money that you have made so far. You are very upset and disappointed to see it happening. You neglected to use stop loss and manage the risk. You realized later that was a big mistake.
Now you feel that is not a harsh statement when you hear that it is a crime not to put a stop loss in trading. If you set stop loss and follow the system strictly, you will not make a huge loss. You can take a small loss and that is absolutely okay.
You have to manage your risk while you are trading or investing. You think long-term at the time of investing in crypto. In trading, you capture a specific move or swing in the market. You can get rekt in trading if you do not follow the system strictly. You define the risk before taking entry.
While making investments in crypto, you do not do things randomly. You are supposed to have a plan to make your move. And you follow that consistently. The chance of getting a return from investments and making a profit from trading is higher as long as you keep following the system.
Image Sources: 1, and 2. https://pixabay.com/photos/stock-market-chart-dow-nasdaq-6695485/ https://pixabay.com/photos/investment-trading-terms-conditions-6663744/
Crypto Exchange Huobi Global Hacked for $7.9 Million
Crypto exchange Huobi Global, newly branded HTX, was hacked and hackers were able to drain $7.9 million from its wallet. According to crypto security firm CyberAlerts, the attackers compromised one of the HTX's hot wallets in some way and then stole 5,000 ETH worth around $7.9 million.
HTX sent a message to the attackers in Chinese quickly noticing the hacks and stealing the funds from its wallet. In the message, they offered the attackers to keep 5% as a white hat bonus and return the rest of the stolen funds. This offer is available for seven days. It was also mentioned that the exchange knows the attackers' identity. HTX will take legal action if 95% funds are not returned.
Tron founder Justin Sun tweeted about this hack on social media X. He said that users' funds are safe. The exchange has fully covered the losses and it operates normally. Besides offering the hackers a 5% white hat bonus, HTX also offered to hire hackers as security white hat advisors for the exchange, according to Justin Sun's tweet.
Justin Sun said in his tweet that $8 million in stolen crypto assets is a small amount compared to the large crypto exchanges like HTX. And it is just two weeks' revenue for the exchange. HTX can make a lot of money. Hacking the exchange's hot wallet shows the vulnerability of the exchange.
The stolen fund is small, but people consider this seriously because it could be a big amount in the future. It can make users uncomfortable to trade in the exchange. No one likes to take the risk of losing their crypto while buying and trading. Recently hackers hacked the decentralized peer-to-peer network Mixin Network and stole $200 million worth of crypto assets.
In case the crypto exchange is hacked and unable to operate its business, users suffer the most. The exchange files for bankruptcy to settle the issue. Users have to worry about their crypto assets as well as personal information that could be revealed to court. We saw things like that on FTX after its collapse.
It is interesting that Huobi Global's new name HTX sounds like FTX. It does not give positive vibes since people do not forget what FTX did with users' funds and how they operated their business. The exchange will always say that users' assets are safe and there is nothing to worry about. People find out the truth sooner or later.
Image Sources: 1, and 2.
Reference: 1. https://twitter.com/CyversAlerts/status/1706301345223897506 https://twitter.com/justinsuntron/status/1706313152231575695 https://cointelegraph.com/news/huobi-global-crypto-exchange-hacked-report
Mixin Network Hacked and Lost $200 Million Crypto Assets
Mixin Network has become the latest victim of hacks. It is a decentralized peer-to-peer network for digital assets, Due to this attack, this crypto platform lost $200 million worth of crypto assets. If something is centralized, the risk is usually higher to becoming a victim. As soon as people hear the word decentralized, they think it is more secure and safe.
So how did the attackers attack this crypto platform? If there is any aspect of centralization, attackers may target that to get their job done. Hackers attacked the database of Mixin Network's cloud service provider to hack and steal $200 million in crypto assets.
Mixin Network tweeted about this incident on social media X. Mixin Network team contacted Blockchain security firm SlowMist to investigate and find possible ways to recover the stolen funds. SlowMist also tweeted about this hack from its social media account X and mentioned losing $200 million in crypto assets.
SlowMist is investigating about Mixin Network hack and we will get more information later as they make progress. Mixin Network halted the deposit and withdrawal services for the time being. They will figure out the vulnerabilities and fix them first. Then they might resume deposit and withdrawal services.
It seems decentralization is a buzzword that many crypto projects use just to draw attention. If they really pay more attention to the decentralization aspect of their crypto project, that will help to gain more trust and recognition from the general people. Unfortunately, some crypto projects turn decentralization into a joke.
They control and operate their projects in a centralized manner, but try to make it look like decentralized. Hackers find more vulnerabilities and that makes their job easy to exploit and hack the crypto platforms. Crypto projects are hacked and exploited over and over.
People reacted in different ways to the hack of Mixin Network. Hopefully, it would not be a rug pull. Some people say it is predictable and hundreds of so called decentralized networks like Mixin Network would get hacked. We will get to know the truth.
Mixin Network team cannot deny their responsibility. We love to see crypto projects doing well and becoming successful which will drive mass adoption of crypto.
Image Sources: 1, and 2.
Reference: 1. https://pixabay.com/illustrations/security-cyber-internet-computer-3728124/ https://pixabay.com/photos/blockchain-people-shaking-hands-2850276/ https://cointelegraph.com/news/mixin-network-hack-200-m-crypto-assets
DeFi Protocol Linear Finance Exploited and LUSD Stablecoin Value Dropped To Zero
Decentralized Finance protocol Linear Finance was under attack and attackers exploited the protocol that caused to fall the LUSD stablecoin value dractically. The Linear Finance team tweeted about this attack on social media X. They requested people not to buy and trade LUSD. This is not expected but it happened. Now that's reality.
The attackers exploited the vulnerability of the Linear Finance protocol and that allowed them to mint an unlimited supply of LAAVE tokens. Then they quickly traded LAAVE tokens for LUSD stablecoins on the Linear Exchange. Finally, the attackers dumped the LUSD on PancakeSwap and Ascendix which drained the liquidity That made the LUSD stablecoin value collapse to zero.
Linear Finance took action immediately after detecting the attack and exploit in the protocol. They stopped the operation of token minting, exchanging, and burning. Not only that, the Linear Finance team also disabled the Linear Bridge contract for LUSD temporarily. I like their quick action as soon as they find out the exploits.
They contacted an industry-leading security team to do more investigations and look into the whole incident. They have already notified major exchanges and the concerned authority to track the attackers so that they have more chances to recover the loss. What already happened, you cannot stop that. But your quick action and response can help to find the best possible solutions.
The Linear Finance team will update the community about their progress and what they would do to overcome this. Hackers target the Decentralized Finance (DeFi) protocol to attack and we have already seen different DeFi protocols become victims of exploits and hacks.
Linear Finance has native LINA tokens and it is used for the governance and staking token in the protocol. It has LUSD stablecoin that is pegged to the US dollar. Once the LUSD stablecoin value went up to $1.45. It is that stable and now the LUSD price is $0.00001158.
When there is an exploit of any crypto platform, native tokens of that platform are usually affected pretty badly. The interesting thing is that the LINA price is quite stable in spite of exploiting the Linear Finance protocol. LINA is trading around $0.011.
Hackers are active in finding vulnerabilities in the system to attack crypto platforms. Fixing vulnerabilities and strengthening secure measures are supposed to be the top priority. Otherwise, surviving in the crypto ecosystem will be a big challenge for any crypto platform.
Image Sources: 1, and 2.
Reference: 1. https://twitter.com/LinearFinance/status/1704818417880936535 https://pixabay.com/photos/entrepreneur-begin-start-up-career-2275739/ https://cryptopotato.com/defi-protocol-linear-finance-suffers-liquidity-drain-in-lusd-token-attack/
Discord Crypto Trading Bot None Trading Shuts Down
When you get a service to trade cryptocurrency and NFTs on Discord, that's great. If you spend so much time on Discord, maybe you like to trade sometimes over there. Unfortunately, None Trading, a trading bot on Discord for trading crypto and NFTs, shut down its operation due to a critical exploit.
None Trading lost a significant portion of its funds in this attack. Moreover, they lost team tokens which are important to run its operation. A company does not like to close the business that they built so far. They will always do their best to recover from any loss in order to move forward.
None Trading finds it impossible to move on since three core team members left the company. The financial situation of the company is not satisfactory. And it may not come back due to losing core team members. If core team members were together, they had a chance to come back and handle this situation successfully.
Exploits and hacks are serious threats to a company which can put any business in a vulnerable position. A company should have a dedicated core team that will always be there to deal with challenging situations. If they get help from others financially, they can run the operation and gain customers' trust.
Just one month ago, None Trading market cap was $16.5 million. Now they have taken down their Discord, Telegram, and official websites. Token holders can claim any rewards and they still have 30-day window to do that. In case you are a token holder, it is better to claim any rewards you have as soon as you can.
None Trading used to charge 0.3%–0.6% commission on trading cryptocurrencies and NFTs. People could do trading using None Trading for free. It also had a premium trading feature to do trading. Now this is history. Users cannot use this trading service anymore. This would be different if it was not exploited.
You like some crypto platforms and their services. You expect it will improve and get better in the future. In crypto, things change very fast, and due to exploits and challenging market conditions, many crypto platforms are forced to discontinue their operation. A bear market is tough to survive in crypto.
If crypto companies are managed to survive in a bear market, there is a high chance they will grow exponentially in the bull market. It is sad to see what happened with None Trading. Wish crypto companies would not end up like this.
Image Sources: 1, and 2.
Reference: 1. https://pixabay.com/photos/stop-sign-traffic-signs-red-3437300/ https://pixabay.com/illustrations/bitcoin-coin-money-electronic-money-5916372/ https://crypto.news/16-5m-discord-crypto-trading-bot-shuts-down-after-exploit/
Crypto Exchange JPEX Is In Trouble
How much fee do you pay for withdrawing crypto from exchanges? You usually pay a small amount as a fee. It is negligible what users pay as a fee. The withdrawal fee can vary based on which network you are using and which crypto you are going to withdraw. But you have never imagined paying an extremely high fee like 99%.
You will basically stop withdrawing crypto from the crypto exchange. If you pay so much fee to withdraw cryptocurrencies, it is not worth it. Dubai-based crypto exchange JPEX started raising its withdrawal fee to higher levels. It is ridiculous to pay that fee.
So what happened and why did JPEX charge the withdrawal fee to the extreme level? JPEX blamed regulators and third-party market makers for freezing the exchange's funds. According to JPEX, they got unfair treatment and that causes the problem they are facing now.
The Hong Kong Securities and Futures Commission (SFC) received complaints about the crypto exchange JPEX. The SFC issued a warning against JPEX. The crypto exchange cannot operate its operation without having a license. It is not regulated in the country. Quickly the exchange's Hong Kong partners froze funds after getting a warning from the SFC.
Because of that, the crypto exchange is facing a liquidity crisis. Users can withdraw their funds and due to higher fees, it is highly discouraging to withdraw any crypto from the exchange. JPEX talked to its partner to deal with this problem.
Once they find a solution, the withdrawal fee will go down to the normal level. People can still do spot trading in the exchange. But the Earn program has been suspended. The existing earn program participated by users continues and no one can join the program now.
Hong Kong police have already arrested six people including two social media influencers so far for JPEX crypto fraud. Influencers promoted JPEX and its services. We usually have funds on crypto exchanges. In case the crypto exchange is in trouble, you may lose your crypto assets. It is better not to leave any funds on exchanges that you do not use.
Sometimes it is difficult to differentiate FUD and facts. You might ignore that assuming that's FUD. But you end up losing your crypto after the collapse of the exchange. You can reduce your exposure and it can help you in case the crypto exchange goes down. Here you focus on minimizing the loss.
You need to change based on the changing situation. So watch out, analyze, and make your move.
Image Sources: 1, and 2.
Reference: 1. https://pixabay.com/illustrations/currency-bitcoin-cryptocurrency-5962599/ https://pixabay.com/photos/bitcoin-money-cryptocurrency-6204671/ https://cryptopotato.com/dubai-based-jpex-winds-down-operations-blames-partners/
Don't Fall For Fake Elon Musk Crypto Giveaway Scams On TikTok
We usually see fake crypto giveaway scams on X (Twitter,) YouTube, and Instagram. Now scammers promote crypto giveaway scams on TikTok heavily. Criminal actors draw the potential victims' attention by showing celebrities' videos. When you get something for free by participating in crypto giveaways, you think that's good and it will not hurt you in any way.
BleepingComputer revealed about fake Elon Musk crypto giveaway scams on TikTok and how people fall into a trap. You see a video interviewing Elon Musk on Fox News. You will notice crypto giveaways and there is a promo code to claim free crypto.
You need to visit the website and follow a process to get crypto for free. When you land on their site, it will ask you to sign up first using the promo code that shows on the TikTok video. Signing up on the site using the promo code, you will get a notification of receiving BTC on your account.
BleepingComputer did an experiment and tested the website. They received 0.34 BTC for free that is worth more than $9,000. You will be happy to see BTC on the website account. You think it's done. So you can withdraw BTC from that site, right?
ait, you need to activate your account in order to withdraw BTC. In the activation process, you have to deposit 0.005 BTC which is worth almost $135. It sounds reasonable, right? You will get more than $9,000 worth of BTC just by depositing 0.005 BTC first.
You also have to do KYC to complete this process. What you see here, Crypto giveaways, the website you sign up for participating in crypto giveaways, and the BTC that is deposited in your account are fake. You will not get anything but you will lose the BTC if you deposit that to their address.
And if you do KYC, you just hand over your personal sensitive information to scammers. Scammers can sell your information on the dark web marketplace. Criminal actors can use your sensitive information against you to get access to your account and hurt you financially.
Scammers use high-profile individuals' fake videos like Elon Musk to promote crypto giveaway scams. You can get airdrops in crypto. But most crypto giveaways you see on social media are nothing but a trap to steal your money and crypto assets.
Are you wondering why so many scams are on different social media platforms? Maybe many people still fall for their scams. So scammers keep doing it over and over. If we are aware of this and avoid falling into their trap, scammers cannot get our crypto. Let's be aware of crypto scams and stay safe.
Image Sources: 1, and 2.
Reference: 1. https://pixabay.com/photos/iphone-concert-lights-stage-lights-1836071/ https://pixabay.com/vectors/scam-phishing-fraud-money-6922102/ https://www.bleepingcomputer.com/news/security/tiktok-flooded-by-elon-musk-cryptocurrency-giveaway-scams/
Mark Cuban Lost $870K In MetaMask Wallet Hack
Mark Cuban, an investor, entrepreneur, and owner of the Dallas Mavericks, lost $870K from one of his hot wallets becoming a victim of a crypto scam. Crypto detective WazzCrypto first noticed this and shared it on X. Then more people started talking about this.
WazzCrypto detected suspicious activities on Cuban's MetaMask wallet on EtherScan. That wallet was inactive for almost six months and suddenly transferred all crypto to a different wallet quickly in 5 minutes. That's suspicious. It did not end here.
It revealed that another $2 million USDC was transferred to a different wallet address. So what is going on with all suspicious behaviors? Mark Cuban confirmed that hackers drained his MetaMask wallet. Initially, his response was like someone got him for 5 ETH.
As a matter of fact, he lost almost $870,000 worth of crypto assets including Lido Staked Ether (stETH), SuperRare, Ethereum Name Service, and stablecoins. He transferred $2 million USDC to Coinbase Custody. So it was him, not the hackers transferring the funds.
People talked about how it happened and hackers stole his crypto. Some say probably Mark Cuban signed a malicious transaction and that gave hackers access to his MetaMask wallet. And hackers drained his crypto wallet.
Some people say it is not by signing a malicious transaction. The seed phrase was compromised in some way and he lost his $870K crypto assets. Mark Cuban does not know exactly how it happened. Probably he downloaded a fake version of the MetaMask wallet and hackers got access to his seed phrase.
It is concerning that an experienced billionaire investor became a victim of a phishing attack and hackers successfully hacked and drained his crypto wallet. Things happen that you did not expect experienced individuals like Mark Cuban to become a victim of hacks.
It is not the first time things like that happened with Mark Cuban. He lost his crypto assets in Iron Finance, an algorithmic stablecoin project, in 2021. That crypto project was a rug pull. He ended up losing his capital and it was not defined how much he lost over there.
Mark Cuban was not passionate about crypto before. He expressed his opinions like he would prefer to have a banana than Bitcoin. He changed his mind later and saw the potential of crypto. Then Cuban started investing in crypto assets and got involved in it.
You cannot deny the risk when you get involved in crypto. Criminal actors are active in stealing crypto from their next victims. Secure your crypto assets, and stay vigilant to be on the safe side.
Image Sources: 1, and 2.
Reference: 1. https://twitter.com/WazzCrypto/status/1702820716343624168 https://pixabay.com/photos/ethereum-eth-cryptocurrency-money-6286125/ https://crypto.news/mark-cuban-loses-870k-in-metamask-related-crypto-scam/
@rezoanulvibes