Wemade Faces Probe Over Crypto Fraud Allegations
Wemade, a South Korean Web3 game developer, is under investigation by local prosecutors for allegedly violating the rules for virtual asset service providers and issuing fraudulent tokens. Wemade, a South Korean Web3 game developer, is currently facing a probe by the Seoul Southern District Prosecutor’s Office’s first financial investigation department. According to a local media […]
Bitsonic CEO and VP Jailed for 10 Billion Won Crypto Fraud
The CEO and vice president of technology of Bitsonic, a South Korean crypto exchange, have been sentenced to prison for orchestrating a massive fraud scheme involving fake trading volumes and customer deposits. The Seoul Eastern District Court has sentenced the CEO and vice president of technology of Bitsonic, a major South Korean crypto exchange, to […]
Ripple Faces Major Breach With 213 Million XRP Lost
213 million XRP ($112.5 million) were lost in a significant breach as Ripple attempted to recover assets and secure its platform. ZachXBT has recently reported that Ripple has experienced a significant breach, resulting in the depletion of an estimated 213 million XRP, equivalent to $112.5 million in value. The revelation of the incident on January […]
South Korean Crypto Karaoke Platform Hacked for $11.5M
An attack caused the South Korean karaoke blockchain platform Somesing to lose access to 730 million SSX tokens valued at $11.58 million. A blog post by Somesing states that the hack happened on January 27. From the SSX tokens that were taken, 226 million were in the fund’s custody, and 504 million were still unallocated […]
Ripple CTO Alerts on OpenSea Scam Targeting NFT Bidders
David Schwartz, CTO of Ripple, informs OpenSea users about a new email fraud that exposes security vulnerabilities in NFT transactions. David Schwartz, CTO of Ripple, has exposed a fraud aimed explicitly at consumers of OpenSea, the preeminent NFT marketplace. The disclosure by Schwartz underscores cybercriminals’ dynamic strategies in digital assets, thereby emphasizing the criticality that […]