Crypto

Hackers target cryptocurrency investors, some posing as Elon Musk

Published

1 year ago

May 18, 2021

Anthony Lucas

Scammers are using fake giveaways to cash in on interest in cryptocurrencies

The new hack targets people interested in crypto by faking celebrity giveaways.

Among these celebrities is Telsa CEO Elon Musk.

The U.S. Federal Trade Commission has reported a jump in complaints about cryptocurrency fraud.

In one type of scam, the hackers told targets that if they give a certain amount of cryptocurrency to a “celebrity” they will get more back.

According to the FTC, one victim sent $2 million dollars to a fake Elon Musk impersonator.

The real Elon Musk has been a supporter of cryptocurrencies but recently knocked dogecoin by calling it “a hustle” on national television.

He has also recently announced that Tesla will no longer accept bitcoin payments. This is due to potential enviornmental concerns.

Crypto

Russian Police investigate a crypto mining facility

Published

4 hours ago

June 27, 2022

Costa Haritos

Russian Police are investigating a crypto mining facility, which is suspected of defrauding clients

It’s understood the miners handed devices to those who were running a mining hotel.

They are also accused of stealing their expensive coin minting hardware, and stopping payments to their customers.

The scam allegedly took place from November to May, where the suspects worked with people who wanted to install their coin minting hardware in a mining hotel.

They were offered electricity prices that were below market value.

Electricity consumed by some of the world’s largest cryptocurrencies has dropped by nearly half.

Crypto

Gucci goes big in metaverse with new Vault Art Space

Published

3 days ago

June 24, 2022

Brittany Coles

Forward thinkers who love fashion, this exhibit is for you

Luxury brand Gucci has opened a Vault Art Space as it continues to explore the art world and the metaverse

Gucci inaugurated the gallery in a partnership with NFT marketplace SuperRare

The debut exhibit is titled “The Next 100 Years of Gucci”

Keep your eye out for a special selection of NFT artworks, each a collectible fragment of Gucci’s heritage.

The artworks are showcased and auctioned off directly on Vault’s website in three drops between now and the end of July.

All sales will be in Ethereum.

Crypto

Ethereum to finally undergo shift to new energy model

Published

4 days ago

June 23, 2022

ticker NEWS

The popular cryptocurrency are ready to make the switch from one energy model to another

Ethereum is about to undergo its long awaited makeover, which will see the company shift from its energy intensive model.

The crypto has been working to shift from its proof-of-work method to a proof-of-stake model, which requires far less power than mining.

Crypto currencies have been criticised for their mining processes to generate new coins. But this new method will be eco-friendly and lead to faster transactions.

The transition has been repeatedly pushed back because of major flaws.

But developers reportedly say the latest test run was very smooth.

The price of Ethereum has lost nearly half its value this year and is trading at just over $1,800 USD.

Investors will continue to keep an eye out on what will come out of this upgrade.

Meanwhile, Bitcoin investors can enjoy a sigh of relief as the cryptocurrency bounces back after months of turbulence.