Tag Archives: exchange

Hacked Crypto Exchange BitMart Promises to Use Its Own Funds to Compensate Affected Users

Hacked Crypto Exchange BitMart Promises to Use Its Own Funds to Compensate Affected Users

Crypto trading platform BitMart said it would use its own funds to compensate users affected by a Dec. 4 hack of the platform — the cost of which it had estimated to be around $150 million, according to a series of updates posted to its website.

Blockchain security and data analytics company PeckShield, however, estimated the loss to be around $200 million.

“Total estimated loss: ~200M (~100M on @ethereum and ~96M on @BinanceChain ). (Previously we only counted the loss on @ethereum). And here is the list of affected assets/amounts on @BinanceChain,” the company tweeted.

Crypto Hack Headlines Bad for Business

Anndy Lian, chairman of BigONE Exchange and founding member of INFLUXO, told GOBankingRates that something reading like “crypto got hacked again” is never a good headline for the industry.

“I have seen many clickbait-like headlines going around to downplay cryptocurrency. The hack is a one-off situation and will act as a reminder to other exchanges to tighten their security and do regular checks for any possible exploits or vulnerabilities,” Lian said.

He added that Bitmart’s promise of paying back the affected projects and users “shows responsibilities and dedication to their clients and also sets a good example for the crypto space and the naysayers quoted in various news.”

“It is unfortunate for the hack to happen to Bitmart. I met Sheldon briefly last month when he was in town. We should all help each other and if any of the suspected transactions went into other exchanges, those who have the ability should stop and seize the culprits. This is the time we should all work together,” Lian added.

Lian’s sentiment was echoed by many in the crypto industry.

Crypto Industry Insiders Laud Bitmart Promise to Repay Affected Users

Michael Fasanello, director of training and regulatory affairs at Blockchain Intelligence Group, told GOBankingRates he was “actually impressed by that gesture of appreciation for their customers and owning the situation.”

Fasanello said that, to the best of his knowledge, this is the first instance wherein a hacked exchange has offered to make restitution to customers from the exchange’s own coffers.

“Until FDIC or a similar federal umbrella is in place, reimbursement of customers or recovery of stolen assets are the only appropriate options available to exchanges who are the victim of cyber-enabled financial crime such as hacks or ransomware attacks,” he said.

BitMart Vows to Move Forward, Make Good on Repayment Promise

BitMart said, on Dec. 4, that it had identified a large-scale security breach related to one of its ETH (Ethereum) hot wallets and one of its BSC (Binance Smart Chain) hot wallets.

“The affected ETH hot wallet and BSC hot wallet carry a small percentage of assets on BitMart and all of our other wallets are secure and unharmed. We are now conducting a thorough security review and we will post updates as we progress,” the company said at the time. “During this period, we will strive to maintain transparency and we appreciate your support. Thank you very much.”

In a subsequent post on Dec. 6, BitMart explained that the security breach was mainly caused by a stolen private key that compromised two hot wallets.

“BitMart will use our own funding to cover the incident and compensate affected users. We are also talking to multiple project teams to confirm the most reasonable solutions such as token swaps. No user assets will be harmed,” the Bitmart update claimed.

The company added that it was doing “its best” to retrieve security set-ups and their broader operation and needed time to make proper arrangements.

“The detailed timelines will be announced very soon. In addition, our CEO, Sheldon Xia, will conduct an AMA at 8PM EST Dec 6 on Telegram to share more info regarding the security breach, compensation arrangement, and how we plan to resume operation. We will strive to maintain transparency and your support to BitMart is highly appreciated,” the update read.

 

Original Source: https://finance.yahoo.com/finance/news/hacked-crypto-exchange-bitmart-promises-200038756.html

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
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Forbes India: Innovative Ronaldinho NFT Launched by Influxo Studio with technology from BigONE Exchange

Forbes India: Innovative Ronaldinho NFT Launched by Influxo Studio with technology from BigONE Exchange

In 2021 the rise of non-fungible tokens (NFTs) has been nothing short of phenomenal. In the art world in March the ‘shock of the new’ came in the form of a $69.3 million sale of a digital collage at Christie’s. But the real mass market for NFTs in 2021 arrived with the NFT-enabled ‘makeover’ of the National Basketball Association (NBA) sports collectibles, with over $200 million in sales in February and March alone. Until now the global game of football has lagged behind, this is starting to change. Italy’s Serie A has started offering NFTs, with collectibles including match highlights made available to celebrate the 2021 Coppa Italia final. And now with the recent announcement of a limited edition NFT collection featuring two-time FIFA World Player of the Year, Ronaldinho it seems certain NFTs are about to take the world of football by storm.

Up until now technology in sport has pushed in the other direction from NFTs which accentuate the scarcity and uniqueness of sporting moments. In the past this took the form of football cards, traded among fans and friends, with some being sold and bought on platforms such as eBay. Globally there are hundreds of millions of football fans whose childhoods included collecting, swapping and trading cards. With the advent of NFTs the digital makeover of trading cards involves the upgrading of images for high quality video clips, blockchain-based certification for authentication agencies, and digital displays in the form of smartphones for binders, and online trading platforms for offline collectors’ events.

But what NFTs bring is something quite different, the application of technology to create scarcity. For the first time a football fan can become the owner of exclusive pieces featuring the Brazilian world-class soccer star. Daniel Liu, partner at investment backers INBlockchain and INFLUXO CEO explained: “Our trusted platform, seamless user experience and trusted team of investors and developers has allowed us to secure Ronaldinho for the platform’s first collection and we’re thrilled to show what’s in store for the future of digital collectibles.”

For football fans the attraction of NFTs comes down to their power to deliver that specific type of uniqueness that ownership brings. While this form of ownership may feel unfamiliar to older football fans, it comes as no surprise to a younger generation of fans already used to spending money on virtual currencies within video games. In other words, they offer the same kind of ‘bragging rights’ through use of a smartphone, that once physical football cards gave an earlier generation of fans.

Ronaldinho’s NFT ‘Masterpiece’ collection sits on the Influxo marketplace, where you can browse, buy, and bid on high-quality NFTs endorsed by world-class celebrities and artists. Collectively called ‘INFLUXO X Ronaldinho’, as well as the NFTs there is a set of Sports cards. ‘Football Magic’. Ronaldinho’s career saw him win the UEFA Champions League as well as two La Liga titles with Barcelona and a Serie A crown while playing for AC Milan with the 2005 Ballon d’Or and his 2004 and 2005 FIFA World Player of the Year awards among his many individual accolades. With INFLUXO acting as the gateway, supported by blockchain technology providers BigONE, it’s an exciting opportunity for the most dedicated fans to collectible digital assets and real-world experiences.

“I’m so excited to share this news that @Influxo_NFT is launching a series of NFTs in my honor, giving my biggest fans the chance to bid for my unique NFT digital collectibles, and to collect the seven exclusive sports cards, said Ronaldo de Assis Moreira, famously known as Ronaldinho.  “I love the fact I’ll get the chance to meet my fans in person in Dubai next year, including all the NFT auction winners, and one lucky fan with the full set of sports cards. The devotion of football fans is what help make the global game of football truly special, so it’s really good to celebrate this with my fans all around the world.”

Liu confirmed the NFT collection will include seven unique ‘Masterpiece’ series, together with a complete sports card NFT collection all endorsed and signed by the footballer. They depicting Ronaldinho playing football, futsal, footvolley, e-sports, teqball etc. The cards will be a limited edition of 1000. The NFTs are based on original pictures created by Camaleão, a world-famous artist who specializes in creating physical canvases. The artist said that the creative idea that inspired the pictures of Ronaldinho was to depict fragments of his footballing genius. To bring these into the NFT world INFLUXO partnered with a world-leading animation studio to digitize Camaleão’s canvases, confirmed Liu.

Anndy Lian, founding partner of INFLUXO and Chairman of BigONE which is providing the platform that supporting Ronaldinho’s first NFT digital collectible sale, says he’s delighted to be working with the Brazilian star. “We are happy to work with Ronaldinho on this very special NFT launch, using our safe and secure blockchain technology to make sure it all runs smoothly for him, and all his fans around the world.”

While in 2021 NFTs have risen to prominence in art and sport, and the legion of football fans have yet to enjoy access to a NFT marketplace, this is starting to change says Lian. “The beauty of NFTs is that they can capture the kind of dynamic moments that are the 21st century version of the beloved, but static football cards. And for football clubs and leagues they have the potential to provide much-needed form of revenue.” While NFTs confer ownership, the copyright remains with the club or player.  “The sky’s the limit, the beauty of NFTs is that they aren’t just for digital collectibles, they can be used to prove ownership for traditional football cards, through to player’s shirts and other sought-after memorabilia”, Lian added.

The seven NFTs from the Ronaldinho collection will be made available to fans through a live online auction process, with a starting bid price of 20,000 USDT. The idea is that the winners of each auction will in addition to the unique collectible NFT also receive the opportunity to participate in a unique experience, meeting with Ronaldinho in Dubai next year. The experience includes a round-trip ticket and a two-day hotel stay, as well as a gala dinner and of course the meeting with Ronaldinho himself.

To take part each bidder must show proof of funds and have enough money locked in their wallet at the start of the auction in order to start bidding; in addition, each bidder has to place a minimum increment bid of 10,000 USDT. The specialist auction process is designed so that in the final hour, there will be an ‘extra time’ period, which requires a bid to occur only if and when the increment amount is 10% of the current auction price. The final and highest bidder wins the auction. Once their bid is confirmed, and payment settled, all the other bidders’ locked money will be returned after the auction ends.

Sports legend card NFTs will also be available for sale for 299 USDT. A complete series consists of six cards and one airdropping card. Collectors who hold the complete set will also be entered into a sweepstakes for a chance to win the same Dubai experience with the NFT auction winners, with ten runners up winning a Ronaldinho-signed football shirt.

 

 

Source: https://www.forbesindia.com/article/brand-connect/innovative-ronaldinho-nft-launched-by-influxo-studio-with-technology-from-bigone-exchange/70481/1

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
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Anndy Lian’s comments on fighting scams quoted on Decrypt.co “Hackers Impersonate Crypto Exchange Gemini on YouTube”

Anndy Lian’s comments on fighting scams quoted on Decrypt.co “Hackers Impersonate Crypto Exchange Gemini on YouTube”

Youtube related scam advertised videos continue to flourish on Youtube. Decrypt media publish an article yesterday on hackers impersonating Gemini Crypto Exchange on Youtube. Anndy Lian was also being quoted in the article.

Anndy’s commented in October openly on Twitter urging Youtube to get rid of misleading video that offers an extraordinary return in their investments.

“Come on @YouTube, please get rid of this fake LIVE videos, 105,000 watching, 2800 likes. I am sure @tylerwinklevoss @cameron @Gemini are not and will not run such schemes. #Crypto has a good future, let’s protect it.”

He has also cautioned all that we should be alert and not fall for the scams that are published.

“Always remember, if it is too good to be true, it is most likely not real. If you need to deposit into some strange address first and they promise 5 times more, it is most likely a scam. Do not fall for such traps.”

 

Such scam-like videos have been floating around for a while. Many of us have seen similar videos with Binance or Ethereum on them. These are all fake. And in July (reported by BBC), Apple co-founder Steve Wozniak sued YouTube for allegedly allowing scammers to use images and videos of him to defraud people.

“Crypto giveaway scams must be stopped. If Youtube cannot cope with this, we should try our best to inform and educate everyone about this. I do not want the general public to think that this is how the crypto space is like. Let’s fight the scams together.” Anndy Lian added.

For users who have encountered spam or scam videos or even comments on Youtube. Youtube staff review reported videos 24 hours a day, seven days a week. All is needed is to sign in to Youtube, there is a drop down menu below the player and click “Report”. For more information, you can follow the instruction on this link.

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Hackers Impersonate Crypto Exchange Gemini on YouTube

FCA-regulated crypto exchange Gemini exposed two fake YouTube channels on Twitter yesterday.

In brief

  • Crypto exchange Gemini has been impersonated by two YouTube accounts.
  • This kind of thing has been an issue in recent months.
  • Ripple CTO David Schwartz has also experienced problems with YouTube’s impersonation rules.
A hacker took over two YouTube accounts to appear as though they were associated with crypto exchange Gemini, according to a tweet from the company yesterday.

YouTube does not allow impersonations of people or channels on its platform, but impersonations remain an ongoing issue for the social media giant. On this occasion, the hackers rebranded the relevant YouTube accounts with Gemini’s brand name, as well as the crypto exchange’s logo. And Gemini wasn’t too happy.

“These scam accounts are not our company. We have reported these accounts to YouTube,” said Gemini’s official Twitter account yesterday.

What’s more, this is a problem that has appeared to persist for Gemini in recent months.

In October of this year, Twitter user Anndy Lian publicly asked YouTube to bring down fake videos that pretended to be associated with Gemini, as well as the crypto exchange’s co-founders and brothers, Tyler and Cameron Winklevoss.

“Come on YouTube, please get rid of this (sic) fake LIVE videos, 105,000 watching, 2800 likes. I am sure Tyler Winklevoss, Cameron Winklevoss, Gemini are not and will not run such schemes,” Lian said.

In July, Gemini itself addressed yet another scam alert, admitting it had been “getting DMs about fake Gemini profiles on various social media platforms.”

Gemini is not alone in running into problems on Youtube. Ripple CTO David Schwartz was banned in April for impersonating…himself. Looks like YouTube just can’t quite hit its mark.

Original Source: https://decrypt.co/50736/hackers-impersonate-crypto-exchange-gemini-on-youtube

Author: Scott Chipolina

This article is also in Russian and Turkish and is searchable on Google News.

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j