Over 385 Million USDT Stolen via Pig Butchering in Two Years
According to BestBrokers, more than $385 million have been stolen in just two years through pig butchering scams. The team analyzed the amount of stolen USDT on the Ethereum mainnet and found that the overall amount stolen already exceeds 385 million USDT. The first decline in reported scams was observed in Q3 2023, possibly due to the crackdown efforts of Southeast Asia’s governments. BestBrokers’ crypto analyst expressed concern over the magnitude of these scams and compared it to the amount siphoned by DeFi hackers.
MoonPay Launches MoonPay Checkout
Crypto payments infrastructure firm MoonPay has launched MoonPay Checkout, an improved four-click checkout process for buying digital collectibles. MoonPay Checkout is an enhanced version of its NFT purchasing widget and is already trusted by platforms like OpenSea and Magic Eden. It offers features such as high conversion rates, extensive blockchain support, brand customization options, protection against chargebacks and fraud, and wallet-free checkout. It also provides opportunities for additional income through affiliate fees, Google and Apple account integrations, and the ability to mint multiple quantities of NFTs in a single transaction.
Which Bitcoin Miners Will Face Most Uncertainty Post-Halving?
A Miner Weekly report by BlocksBridge Consulting suggests that certain large miners may have to reduce their hashcost to avoid uncertainty after the Bitcoin halving. The report states that if the hashprice remains constant at $110/PH/s through April, it will be reduced to $55/PH/s after the halving. Companies with higher hashcost will face more uncertainty post-halving unless they reduce their expenses. The report emphasizes the importance of improving fleet efficiency and securing lower energy rates to reduce hashcost. It also mentions an arms race among mining companies for the next generation of miners.
KuCoin Labs and Zoopia Partner to Advance Bitcoin Ecosystem
KuCoin Labs, the investment VC arm of the KuCoin ecosystem, has partnered with Zoopia, a platform dedicated to bitcoin ecosystem staking, to advance the Bitcoin ecosystem. The strategic partnership aims to revolutionize the way users interact with BRC tokens. Zoopia plans to create an ecosystem where users can securely stake BRC20 tokens, earn rewards, and participate in auto-compounding processes. KuCoin Labs will support Zoopia in achieving its key milestones, including product launches, market expansion, and user experience enhancements.
Hot Take: Pig Butchering Scams Expose Vulnerabilities in Crypto
The recent revelation that over 385 million USDT have been stolen through pig butchering scams highlights the vulnerabilities in the crypto space. These scams have been ongoing for two years and continue to be a significant issue despite efforts by governments to crack down on them. The magnitude of these scams is alarming, and it is likely that the actual amount stolen across all blockchains is even larger. This raises concerns about the security of cryptocurrencies and the need for increased regulation and oversight. As the crypto industry continues to grow, it is crucial for users to remain vigilant and take necessary precautions to protect their assets.
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