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Walter Grand

Walter Grand

Gala Games Suffers Over $21 Million Loss in Smart Contract Exploit

On May 21, Gala Games faced a significant security breach when an unidentified attacker gained access to its smart contracts and issued 5 billion GALA tokens, leading to a substantial financial setback for the company. The attack resulted in the unauthorized exchange of 592 million GALA tokens for 5,952

LayerZero Labs Halts 'Sybil Hunting' Program Temporarily as Reports Overwhelm the Team

LayerZero Labs, under the leadership of CEO Bryan Pellegrino, has announced a temporary halt to their 'Sybil Hunting' initiative. The program, designed to root out deceptive participants in their token distribution campaign, encountered an overwhelming number of reports concerning potential 'sybils'—fraudulent entities attempting to manipulate the system. The initiative

JPMorgan Raises Bitcoin Mining Cost Estimate to $45,000 Amid Reduced Block Rewards, Expects Asset Price to Drop to $42,000 in the Medium Term

JPMorgan analysts have recently revised their forecast on the cost of mining Bitcoin following a halving event that reduced block rewards. In their updated report, they now estimate the cost to mine the cryptocurrency at $45,000. This adjustment is a response to ongoing changes in the mining sector and

Trader Turns $1,500 into $202,000 in Five Minutes Thanks to TOBI Meme Coin

In a stunning demonstration of digital currency's potential, an unidentified trader managed to increase their investment by an astonishing 137 times within just five minutes, turning $1,470 into $202,000. This remarkable financial feat was accomplished through strategic trades involving the meme coin TOBI on the Solana blockchain network.

LayerZero Labs Launches "Sybil Hunter" Program with 10% Token Reward, Starting May 18

LayerZero Labs has announced a new initiative to combat fraudulent activity within its network, dubbed the "Sybil Hunter" program. This program is designed to identify and address Sybil attacks—where a user creates multiple accounts to exploit network services unfairly. The announcement comes as the company prepares for an upcoming

Approximately 100,000 LayerZero Users Confess to Multi-Accounting

Brian Pellegrino, the CEO of LayerZero Labs, recently disclosed that around 100,000 addresses have admitted to being Sybils. This term, rooted in cybersecurity, refers to users creating multiple accounts on a network to manipulate or undermine the service, typically for personal gain such as fraudulently acquiring airdrops. Pellegrino shared

Market Capitalization of Smart Contract Platforms Expected to Exceed $15 Trillion by 2030, Says Crypto Expert Jamie Coutts

Crypto expert and analyst Jamie Coutts has made a bold forecast about the future of smart contract platforms. According to his analysis, by the year 2030, the total market capitalization of these platforms could range between $15 trillion and $25 trillion. This significant growth will largely be driven by the

Mark Cuban Accuses SEC Chair of Incompetence, Suggests Potential Impact on Biden's Election Prospects

Entrepreneur Mark Cuban has publicly criticized the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, calling into question his competence and suggesting that his actions could potentially influence the outcome of the upcoming U.S. presidential elections in favor of the Democratic Party losing. Cuban, an

BlackRock’s Crypto Wallet Linked to Sanctioned Tornado Cash by a Mysterious 1 ETH Transfer

A single Ethereum (ETH) transaction has placed the financial behemoth BlackRock in an unusual spotlight. An unknown entity sent 1 ETH to BlackRock’s cryptocurrency wallet using the controversial mixer service, Tornado Cash, which has been sanctioned by the U.S. Department of the Treasury. This seemingly minor transaction has

LocalMonero Shuts Down: Peer-to-Peer Cryptocurrency Trading Platform to Cease Operations After Nearly Seven Years

LocalMonero, a popular peer-to-peer (P2P) platform for trading Bitcoin and Monero (XMR), has announced its impending closure. This decision marks the end of nearly seven years of operation, a journey that the LocalMonero team described as being curtailed by "a combination of internal and external factors." The process of winding