If ethical fashion is the future, blockchain is the key
Ethical fashion is no longer a thing of the future, and the fashion industry has been attempting to take giant strides towards achieving it. And if there is one technology that’s bound to push the boundaries in the fashion revolution, it is blockchain. For people involved in non-technical industries, blockchain is just an underlying technology […]
US man allegedly uses $1.1M PPP loan to buy crypto
Officials in Houston have taken into custody a US citizen who allegedly used the $1.1 million worth PPP loan money to buy crypto, announced The Department of Justice (DOJ) on Tuesday. A US citizen named Joshua Thomas Argires, age 29, was charged by the DOJ for illicitly applying and obtaining the PPP loan and using […]
Afghanistan launches Smart Medicine project to tackle counterfeit
A blockchain startup has joined forces with the Afghan government to launch the Smart Medicine project – an initiative that explores the potential of distributed ledger technology (DLT) to remove counterfeit medicines from the supply chain. Counterfeit medicines are no laughing matter. If anything, the illegal trading of fake drugs is a billion-dollar industry worldwide, […]
VeChain Toolchain to verify authenticity of Nike shoes
Australian shoe companies Case Shiel and The Kickz will be deploying VeChain Toolchain, an extensive blockchain platform for supply chain and data management solutions, to validate the authenticity of Nike’s Air Max 1. Illegal copying of product brands is one of the biggest roadblocks in the growth of retailers and retail evolution today. It is […]
UK police uncover $2M worth international drug operation
UK police have uncovered a multi-million dollar drug operation conducted by a former KFC worker, Paul Johnson, who also happens to be a dark web seller, Harborough Mail, reported on Monday. The UK police were shocked when they found out that an imprisoned ex-KFC employee, who pretended to be a humble tea trader, had $2.29 […]
Tracing illegal crypto funds through banks now possible
Tracing illegal crypto is now possible thanks to a new product by CipherTrace. The firm has come up with a new product, Armada that will protect banks with potential risks that come with crypto exchanges. The startup that is DARPA-backed will help banks in detecting illegal crypto funds. Illegal crypto has become a threat to […]
$7M fraudulent ICO lawsuit against Kevin Hart might be dismissed
Famous Hollywood star Kevin Hart might be smiling out of court soon with increasing chances of a $7M fraudulent ICO lawsuit levied against him being dismissed. Having been allegedly involved in promoting FLiK Initial Coin Offering (ICO), which has now crumbled to ruins, investors have pressed charges against the veteran actor’s motion to dismiss the […]
Is Poloniex exchange crash an inside job?
Reports about Poloniex exchange crash earlier in the day have left many wondering whether it was genuine or malpractice. The exchange was undergoing scheduled maintenance when users experienced unanticipated downtime. The early Friday morning left many users in shock while others read some malpractice from one of the largest crypto exchange in the world. Though […]
Drop token sale: SEC alleges Dropil founders for defrauding investors in its token sale
The United States Securities and Exchange Commission (SEC) alleged in a Friday announcement that three California residents, Jeremy McAlpine, Patrick O’Hara, and Zachary Matar defrauded their investors by lying about the success of their DROP token sale. The SEC alleged that the three falsified financial information about Dropil and lied about the profitability of the […]
EOS-based wallet app shutdown, $52M in user funds gone?
In what could be considered as a possible exit scam, EOS Ecosystem, a Chinese digital wallet application based on EOS blockchain, has shut down. It reportedly closed off with millions of dollars belonging to the customers. $52 million lost to EOS-based wallet app ChainNews, a local blockchain news outlet reported the news on Monday. The […]
Crypto COVID-19 donation scams: Beware of NHS infected emails
Action Fraud (AF), a fraud and cybercrime reporting center in the United Kingdom, has come out to denounce scammers impersonating National Health Service (NHS) soliciting crypto COVID-19 donations. Crypto COVID-19 donation scams modus These scammers send fake infected emails impersonating NHS workers, usually to get crypto COVID-19 donations. Reportedly, these emails are infected with bitcoin […]
Binance prepares to fight $1M embezzlement charges
Leading cybersecurity company HackControl has accused the cryptocurrency exchange Binance with embezzlement charges worth one million US dollars ($1 million) after an investigation showed that the exchange misappropriated funds without explanation. It appears that Changpeng Zhao’s Binance will have an uphill battle in front of itself once the coronavirus dust settles down. On 3rd April […]
FCA warning list now features nine new fintech and crypto firms
The updated FCA warning list released by the UK’s Financial Conduct Authority (FCA) on Monday featured the names of several new fintech and crypto firms, and specifically issued an advisory against an imposter of Ignis Markets, an FCA-authorized agency. The UK’s official conduct regulator for over fifty-eight thousand financial services firms has released the details […]
