U.S. authorities have charged a man they accuse of operating a Ponzi scheme, which purported to invest in a cryptocurrency trading enterprise. The operator of the scheme is accused of defrauding investors of at least million. FBI Assistant Director James Smith said the actions of Idin Dalpour not only “sever the trust of clients,” […]
Bitcoin News
Blockchain-Based Loyalty Rewards Foster Brand-Customer Connection, Accelerate Web3 Adoption — Gennady Volchek
Universal loyalty programs can serve as potent tools, not only forging a direct link between a brand and its consumers but also influencing the latter’s shopping behaviour, Gennady Volchek, the CEO of the loyalty rewards app Shping, has said. However, by harnessing the power of blockchain and cryptocurrency, these loyalty programs empower brands to connect […]
Bitcoin News
Surging Toncoin Price And Telegram Bot Tokens – What’s The Connection?
Toncoin (TON) has taken the crypto market by storm, but its meteoric rise has also cast a spotlight on Telegram-bot tokens, drawing attention to the historical affiliation between TON Network and the instant messaging giant, Telegram.
Crypto enthusiasts have long regarded Telegram as a pioneer in exploring blockchain technology. Toncoin’s genesis lies in the “Telegram Open Network” (TON) project which, after facing legal hurdles, rebranded as “The Open Network” in 2020.
In recent months, TON has witnessed a surge in investor interest, evident from on-chain data and Santiment’s TON Social Dominance chart, which recorded a significant spike in June 2023.
This heightened attention has played a pivotal role in propelling TON’s price upwards, with its current value at .89, as reported by CoinGecko. Notably, TON has gained 1.8% in the last 24 hours and an impressive 28.9% over the past seven days.
Telegram-Affiliated Tokens Outshine The Crypto Market
While the global crypto market cap has seen a contraction of nearly 10% since August 1, Telegram-affiliated tokens have defied the trend, delivering consistent double-digit gains during the same period. This intriguing correlation hints at the emergence of yet another thriving sector within the crypto market.
What adds to the intrigue is the fact that these bot tokens have yet to find their way onto mainstream exchanges. As a result, the fear of missing out (FOMO) could intensify among strategic investors eager to capitalize on potential gains once these tokens hit the exchange listings.
Toncoin Breakout Signals Market Shift
September 1 marked a significant turning point for Toncoin, as its price broke free from the resistance trendline that had held it in a downtrend for over eight months. This breakout signifies a change in market dynamics, where participants may transition from selling on rallies sentiment to buying on dips.
The road ahead for TON appears promising, with price targets set at , .37, and .64. These milestones represent the evolving landscape of Telegram-affiliated tokens and the growing influence of the TON Network within the crypto ecosystem.
In the midst of Toncoin’s solid ascent, Telegram-bot tokens have come into focus, rekindling interest in the TON Network’s close ties with Telegram. This newfound attention has triggered a significant surge in TON’s value, while the broader crypto market grapples with fluctuations.
As these tokens await mainstream exchange listings, strategic investors eagerly eye potential gains in this burgeoning sector, fueling the ever-expanding crypto narrative.
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).
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Bitcoin Miner Marathon Receives Second SEC Subpoena in Connection to Montana Mining Facility Investigation
Marathon Digital Holdings, a publicly-listed bitcoin mining company, has recently revealed that it was served with a subpoena by the U.S. Securities and Exchange Commission (SEC) in relation to an investigation concerning the firm’s Montana mining facility. The SEC is reportedly looking into potential violations of federal securities law.
Marathon’s Montana Mining Facility Under SEC Investigation, Company Receives Second Subpoena
Marathon Digital Holdings (Nasdaq: MARA) was served with a second subpoena on April 10, 2023, following a previous subpoena in October 2020. The company disclosed the news in its May 10 SEC filing, revealing that it has now received a total of two subpoenas.
According to the filing, the subpoena requires the company and certain executives to produce documents and communications related to the Hardin, Montana data center facility, which was previously described in a Form 8-K dated October 13, 2020. Marathon said it is fully cooperating with the investigation, and will provide the requested information to the SEC.
“The company received an additional subpoena from the SEC on April 10, 2023, relating to, among other things, transactions with related parties,” Marathon added. “We understand that the SEC may be investigating whether or not there may have been any violations of the federal securities law. We are cooperating with the SEC.”
Marathon’s subpoena comes on the heels of the company’s announcement of a partnership with Abu Dhabi-based Zero Two. The two firms are planning to build two large-scale immersion-cooled crypto-mining facilities. However, the company’s shares have taken a hit, with a 5.14% drop in the past day and a 6.78% decline over the last five days against the U.S. dollar. Despite the recent drop, Marathon’s stock has been performing well this year, with a 184.41% increase in 2023.
What impact will the SEC investigation have on Marathon Digital Holdings’ future business operations and stock performance? Share your opinions about this subject in the comments section below.
Report: DOJ and FBI Investigating Terraform Labs in Connection to Algorithmic Stablecoin Collapse
The Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) are reportedly investigating the collapse of the algorithmic stablecoin terra usd (UST) and the firm Terraform Labs. Unnamed sources say that former staff members from Terraform Labs, the company behind the Terra blockchain project, have been questioned by U.S. law enforcement.
Unusual Relationship: Report Claims Terraform Labs and South Korean Payment Firm Chai Under U.S. Investigation
After the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Terraform Labs and its CEO, Do Kwon, accusing them of fraud and orchestrating “a multibillion-dollar crypto-asset securities fraud,” the DOJ and FBI are allegedly investigating Terraform Labs. The Wall Street Journal’s Alexander Osipovich reports that people familiar with the matter have detailed that the FBI and the Southern District of New York DOJ have been questioning former members of the Terraform Labs team.
According to sources, the DOJ’s probe is not much different from the SEC’s allegations, and investigators are also looking into the relationship between Terraform Labs (TFL) and the South Korean payment firm Chai. The co-founder of TFL, Daniel Shin, created the payment firm Chai, and it has been alleged that the company helped Terra launder funds. Several social media reports have shown that Terraform Labs and Chai had an unusual relationship. In mid-November 2022, it was reported that South Korean investigators were probing Chai and Daniel Shin.
Osipovich noted that the WSJ contacted the SDNY DOJ and Terraform Labs, but both declined to comment. The report also noted that it “couldn’t be learned what specific charges” the DOJ may be pursuing, and the case could be dropped. Do Kwon’s lawyer and the attorney for TFL are attempting to get the SEC lawsuit dismissed, and Kwon vehemently denies committing fraud. Kwon has not been active on social media since February 1, 2023.
Currently, the once-stablecoin Terra USD (UST), now referred to as USTC, is trading for .023 per unit. Terra’s former native asset, LUNA, now referred to as Luna Classic (LUNC), is priced at .00013233 per coin on Tuesday. Furthermore, the second iteration of Terra’s native crypto asset, LUNA 2.0, is exchanging hands today for .42 per unit. TFL CEO Do Kwon was living in Singapore, but his whereabouts are currently unknown. Prosecutors from South Korea think that Kwon may be in Dubai and possibly even Serbia.
What do you think the outcome of the DOJ and FBI investigation into Terraform Labs will be? Share your thoughts in the comments section below.
A Closer Connection With Your Favorite Celebrities
Professional research has shown that celebrities and fans are equally vital in celebrity-fan relationships (link). Before social media, interacting with your favorite artist was impossible. The closest interaction possible would be from reading a recent newspaper interview.
As social media surged, those with fame were able to display their personality to fans. However, this was no different than viewing a newspaper – except with more colors and interactivity. As of the 21st century, the adoration and support of fans raised celebrities to new heights where business and brand creation became prevalent (link). Nonetheless, this evolving form of business is heavily flawed since celebrity marketing is limited as it’s aimed at their existing fans.
Other platforms have attempted to create both profit and connection, such as Cameo, TrueFan and TRING. Each of these services offers fans the ability to pay and receive content at their request. On paper, these services seem good, a celebrity can make some side income interacting with fans and bridging the gap between them. Academics, social scientists and professionals have stated a darker side to these services (link) and rather than supporting close connections with artists they instead turned artists into digital puppets, of which a user can perform digital ventriloquism to play with a celebrity’s persona. These services prey upon the artists, taking percentage cuts and using their image to fool fans into thinking interaction is meaningful. The result is an unhealthy power dynamic between celebrities and their fans – dictated by money rather than community engagement. These are the sole services for supporting artists to connect with their fans.
That is until nOFTEN released their one-of-a-kind celebrity-fan NFT (non-fungible token) platform. NFTs are physical assets, turned into digital assets, securely stored on a blockchain. The blockchain automates transactions and ensures the owner’s assets stay in their possession. Blockchains still require a marketplace to trade. Thus nOFTEN produced an excellent marketplace for artists, celebrities and fans worldwide.
The experience with nOFTENis simple, an artist joins, verifies his identity and then gets a bustling platform to create and distribute content. nOFTEN provides the artists with the freedom to create and express themselves to fans. For fans, they can own everlasting, passionately made creations from those they adore. The NFTs offered on the platform are not only demanded content such as those on Cameo. Instead, there are options to own pieces of art or meaningful memorabilia. The platform offers additional incentives, including verified accounts to stop inauthentic resellers, royalties and freedom to be creative.
The nOFTEN platform intends to further reinforce the connection between communities and artists in the future. Their roadmap plans out future features including staking for their $NOF token and a DAO (decentralized autonomous organization). By enabling a DAO for nOFTEN, both artists and fans can work together to use $NOF, the mutual financial asset. Working together, the nOFTEN community can change the rules and laws of the platform.
With that, it’s clear nOFTEN provides the first limitation-free platform to support celebrity-fan interaction. This platform supersedes competitors by creating a limitation-free ecosystem. The limitations and issues include a limited sphere of influence, unhealthy power dynamics and social control. The nOFTEN platform fixes all these issues by offering a hub of like-minded artists and nOFTEN partners for collaboration. The unhealthy power dynamic is removed by promoting creative freedom, not creative control. Further, the future DAO allows both parties to harmoniously support each other and the wider community. The connection between fans and celebrities has never been stronger thanks to the nOFTEN marketplace. Visit the nOFTEN website here.
A super-rare and unique platform, will you experience the nOFTEN revolution with your favorite celebrity?
Bitfinex Denies Connection to Alleged Crypto Capital Money Laundering
The post Bitfinex Denies Connection to Alleged Crypto Capital Money Laundering appeared first on DCEBrief.
Venezuelan Investors File Lawsuit With US Court in Connection With $30M Crypto Fraud
n Seven Venezuelans claim to have been lured into a million Ponzi scheme with a cryptocurrency pegged to diamondsn
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HSBC Blockchain Connection Reduces Transaction Time by 40
n HSBC and Landmark Group linked two blockchain platforms, which reduced transaction time by 40n
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Six Detained in Connection with $28 Million Crypto Heist in Europe
Six people have been arrested in Europe in relation to the theft of almost million worth of crypto assets. There are thought to be around 4,000 victims of the scam.
Those arrested hail from both the United Kingdom and the Netherlands. They were detained earlier today on suspicion of their involvement with the crypto theft.
As Many as 4,000 Duped Out of their Crypto Assets by Scammers
According to a report in Sky News earlier today, six individuals have been arrested in connection to the theft of crypto assets totalling almost million.
The group detained earlier today consists of five men and a woman. They are believed to have been involved in a “typosquatting” scam. This involves spoofing a popular crypto asset exchange to trick people into depositing to a fraudulent version of a trusted trading venue or simply entering their login details to allow the scammer to raid the victim’s account at the official version of the site.
According to the authorities involved in the investigation, as many as 4,000 different victims from more than 12 different countries have been affected. Detective Inspector Louise Boyce of the UK’s South West cyber crime unit commented:
“The investigation has grown from a single report of £17,000 worth of bitcoin stolen from a Wiltshire-based victim to a current estimate of more than 4,000 victims in at least 12 countries.”
Boyce then added that the number of those impacted is only expected to grow and that the investigation this morning had already uncovered a “large number of devices, equipment and valuable assets”.
Three of the suspects have been detained in the UK with the other three taken in by Dutch officials. Those held in the UK are suspected of committing computer misuse and money laundering offences. The report identifies them as a 33- and 30-year-old-man from Bath and a 37-year-old-man from Wiltshire.
Meanwhile, the remaining two men and woman, aged 21, 26, and 29, are all being detained on suspicion of money laundering.
Bull Market Brings All the Scams Out
Although the crypto space is rife with scams most of the time, the efforts of those behind such dubious investment schemes and outright scams are taken up a notch when the price of Bitcoin and other crypto assets are rising. With lots of fresh money entering the market and many investors lured by the several thousand percent gains experienced by others in the market, the prospects of scammers increase significantly during such periods of market optimism.
![](https://www.newsbtc.com/wp-content/uploads/2019/06/chart-2-1.jpeg)
When prices increase, scammers are attracted by the new money entering crypto.
In fact, recently two popular Bitcoin commentators warned their Twitter followers about the enhanced risk of falling victim to such scams during times of ever-increasing prices. Andreas Antonopoulos and Peter McCormack both provided details of two different scams relying on the community trust of both prominent personalities to dupe gullible newcomers to crypto.
Related Reading: Billionaire Entrepreneur Sues Facebook Over Bitcoin Scam Advertisements
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