Cryptocurrency Analysis and News Portal
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.May was a month filled with exit scams in the DeFi world, with over $45 million lost to exit scams, while exploits on
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The amount of cryptocurrency lost to "rug pull" or "exit scams" — where founders suddenly up and leave with investors’ money — had outpaced the amount stolen from decentralized finance (DeFi) projects in May, a blockchain security firm has revealed.A June 1 report from Beosin said in May total losses
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The Pixel Penguin alleged ‘charity project rug’Nonfungible-token (NFT) project Pixel Penguin has caused a stir this week in what a blockchain investigator ZachXBT has alleged is a “charity project rug.”The project quietly launched in February, but drew a lot of attention on May 31 following a Twitter thread from Web3
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Memecoins, or meme cryptocurrencies, started as a cultural phenomenon with the launch of Dogecoin (DOGE) in 2013, inspired by an internet meme and a critique of the wild crypto market at the time. Dogecoin was developed by software developers Billy Markus and Jackson Palmer as a joke to mock what many
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The 13th anniversary of the first bitcoin transaction has taken a nefarious turn with meme coin issuers profiting over $200,000 from pizza-related rug pulls. Original Source
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Arbitrum-based decentralized exchange (DEX) Swaprum has allegedly conducted a rug-pull on its users, with $3 million worth of customer deposits being swiped from the platform.A rug-pull or exit scam occurs when a seemingly legitimate project ropes in a certain amount of investment or user deposits before promptly shutting everything down,
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Following a calm week, there were more regulatory actions, especially in the United States. Meanwhile, more hacks and rug-pull spilled over from the previous week. The buzz surrounding meme coins, fueled by the success of PEPE, created an opening for malicious actors who sought to exploit investor enthusiasm. Crypto mining regulations On
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied An address linked to the 2021 AnubisDAO rug pull has reportedly moved another 3,000 ethereum (ETH) valued at about $5.9m via Tornado Cash, a token mixer. AubisDAO attacker moving funds to Tornado Cash According to a May 6
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A moderator of the popular trading subreddit r/WallStreetBets has dumped a large portion of the WSB Coin (WSB), a token project that claims to be the official memecoin of Wall Street Bets.On May 2, WSB was launched by people involved in moderating the WallStreetBets Reddit forum. The subreddit gained notoriety
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Crypto exchange KuCoin confirmed that the address allegedly responsible for launching thousands of memecoin scams belongs to one of its users. However, the exchange will not freeze the user’s assets without any official notice from law enforcement. On April 26, a Twitter user identified a wallet address that launched two to
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