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December 2022

Web3 projects would instead get hacked than pay bounty: Finance Redefined

Web3 projects would instead get hacked than pay bounty: Finance Redefined

Welcome to Finance Redefined, your weekly dose of essential decentralized Finance (DeFi) information – a newsletter designed to give you powerful insights into the past week. One of the top decentralized exchange platforms, Uniswap, incorporates support for debit and credit cards for users. Users of Uniswap will be able to purchase cryptocurrencies using their cards […]

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Mythical Games Sues Former Executives for Secretly Raising 0M for New Firm

Mythical Games Sues Former Executives for Secretly Raising $150M for New Firm

Mythical Games has filed a lawsuit against three former executives of game studio Web3 for breach of fiduciary duty while working for the company. According to the case filed Thursday, Senior Vice President Chris Ko, COO, and Chief Gaming Officer Matt Nutt, and co-founder Rudy Koch stole Mythical’s capital-raising plans and poured $150 million into

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FTX asks bankruptcy judge to stop BlockFi from claiming Robinhood shares

FTX asks bankruptcy judge to stop BlockFi from claiming Robinhood shares

Struggling cryptocurrency exchange, FTX has sought the assistance of a United States bankruptcy judge to prevent cryptocurrency lending firm BlockFi from claiming around $450 million in Robinhood stock bought by its former CEO Sam Bankman-Fried. On Nov. 28, BlockFi filed a lawsuit seeking Bankman-Fried’s holding company, Emergent Fidelity Technologies, to surrender 56 million shares of

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Bridge attacks will still pose a significant challenge for DeFi in 2023 — Security experts

Bridge attacks will still pose a significant challenge for DeFi in 2023 — Security experts

Security has been a critical challenge for decentralized finance (DeFi) and its evolution. Between 2020 and 2022, hackers stole more than $2.5 billion through vulnerabilities in cross-chain bridges, Token Terminal data shows. This is a significant amount compared to other security breaches. The problems with bridges have a root cause. They all have an “inherent

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Brazil’s Securities Regulator Allows Investment Funds to Invest in Crypto

Brazil’s Securities Regulator Allows Investment Funds to Invest in Crypto

Brazil’s Securities and Exchange Commission (CVM) on Friday approved the ability of mutual funds to add crypto assets to their holdings. In a statement, the regulator said the decision aims to allow funds to operate in the crypto space while maintaining controls over ‘s integrity and asset ownership. To be part of fund portfolios, CVM

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Will the Metaverse Dream Survive the Declining Interest: Predictions for 2023

Will the Metaverse Dream Survive the Declining Interest: Predictions for 2023

According to various studies, the size of the Metaversum market could be around $1 trillion by 2030. The Metaverse’s popularity declined in 2022.  What are the predictions for 2023? Experts believe laws are necessary to deal with crimes in the Metaverse. The hype around the Metaverse led the bull run in 2021, with leading tokens

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The FTC Came Gunning for Fortnite. Is the Metaverse Next?

The FTC Came Gunning for Fortnite. Is the Metaverse Next?

The FTC’s decision to fine Fortnite developer Epic Games a record $520 million for allegedly lax privacy settings that allegedly put minors at risk raises a crucial question for the Metaverse: Will their virtual worlds be like this? The Web3 world is paying attention, although Fortnite is not based on a blockchain. The blockbuster title

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The online casino uses crypto loophole to lure back gambling addict

The online casino uses crypto loophole to lure back gambling addict

A recovering gambling addict lost $300,000 at an online casino after the website showed him how to use cryptocurrency to navigate banking restrictions and licensing laws. Australian Blake Barnard won his battle against gambling habits after his bank stepped in and canceled casino deposits. However, as detailed in an interview with ABC, when the online

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North Korean hacking activity ceases after regulators implement KYC - Report

North Korean hacking activity ceases after regulators implement KYC – Report

According to a new press report from South Korea’s National Intelligence Service (NIS), North Korean hackers have stolen more than 800 billion Korean won ($620 million) worth of cryptocurrencies from decentralized finance platforms, or DeFi, this year. In November, the agency also announced blocking an average of 1.18 million daily attacks from national and international

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