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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

LayerZero Labs Announces Collaboration with Chaos Labs and Nansen to Combat Sybil Attacks, Promises Users Can "Undo Sybil Report"

In a significant development announced on May 7, 2024, the omnichain protocol team at LayerZero Labs disclosed a new collaboration with Chaos Labs and Nansen to enhance its efforts in combating Sybil attacks. Sybil attacks, where a user illegitimately creates multiple accounts in a network, pose a substantial threat to

Visa Reveals Over 90% of Stablecoin Transactions Are Not Linked to Real Users, According to New Dashboard Developed with Allium Labs

Visa Inc., in collaboration with Allium Labs, has introduced a sophisticated new dashboard designed to monitor transactions involving stablecoins. This innovative platform has unveiled surprising insights into the stablecoin market, indicating that a mere 10% of these transactions are linked to actual users. Despite the colossal turnover of $2.2

MicroStrategy Launches Decentralized Identification Protocol Based on Bitcoin Technology

MicroStrategy, a prominent holder of Bitcoin and a key player in the cryptocurrency field, has announced the development of a groundbreaking decentralized identification system. The new product, dubbed 'Orange', utilizes Bitcoin's blockchain technology to verify personal identities in a secure and efficient manner. This innovative approach represents a significant shift

Chinese Scammer Arrested for Stealing Data to Claim 40,000 STRK Tokens in Starknet Airdrop Fraud

In a recent crackdown on cybercrime, Chinese authorities have apprehended a man accused of orchestrating a sophisticated fraud involving the theft of 40,000 STRK tokens, valued at approximately $49,000. The arrest, which took place on April 25, 2024, highlights the ongoing challenges faced in the digital asset space,