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Major Bitcoin Heist: DMM Exchange Hacked, $305 Million in Crypto Stolen In a shocking turn of events, Japanese Bitcoin exchange DMM has been hacked, resulting in the theft of 4,502.9 BTC, worth approximately $305 million. The hacker has transferred these Bitcoin to 10 new addresses. DMM confirmed the breach, attributing it to an "unauthorized leak" from their wallet. In response, the exchange has implemented measures to prevent further losses, including restricting certain services, freezing crypto withdrawals, and limiting spot traders to selling only. This hack ranks among the largest in the history of cryptocurrency, rivaling the infamous Mt. Gox hack in 2014. While DMM has assured customers that their Bitcoin deposits will be fully guaranteed, the incident raises significant concerns about the security of cryptocurrency exchanges. Past hacks have often left customers with substantial losses, with some only receiving a fraction of their funds back. However, Gemini Earn's successful full repayment of customers 18 months after a withdrawal freeze offers a glimmer of hope. As the investigation continues, the crypto community remains vigilant, emphasizing the critical need for robust security measures to protect digital assets. Learn Crypto✅️

🔒 Sam Bankman-Fried: From CEO to Prison Trader 🚫 Innocence Maintained, Appeal Pursued Sam Bankman-Fried, the once high-flying CEO of FTX, has broken his silence from behind bars. Serving a hefty 25-year sentence for fraud, he's not going down without a fight. With his sights set on an appeal, Bankman-Fried is determined to clear his name. ⚡️ Trading Rice in the Big House Locked up at Brooklyn's Metropolitan Detention Center since August 2023, Bankman-Fried has found a new calling within prison walls – commodities trading. But forget about stocks and bonds; he's all about bags of rice now. It seems like even behind bars, this trader can't resist the allure of the market. 🟢 Beans and Rice: A Vegan's Dilemma Life inside isn't all glitz and glamour for the former crypto kingpin. His vegan diet hasn't exactly made him popular among fellow inmates. So, it's back to basics with beans and rice – not just sustenance but also a form of currency in this gritty world. 👀 A New Perspective Behind Bars The interview with Puck News sheds light on Bankman-Fried's current digs – a spacious dorm-style area shared with 35 other male prisoners. Surrounded by some who are allegedly involved in murder cases, it's safe to say he's had quite the change of scenery. ➡️ Blame Game and Regrets Bankman-Fried doesn't shy away from pointing fingers when it comes to FTX's collapse. He claims he was unfairly scapegoated and that negligence played a major role. While he may lack remorse for his actions, he does express regret over not finding someone else to lead Alameda Research while juggling FTX. 👌 A Longing for Familiarity As he awaits a potential transfer, Bankman-Fried hopes to be moved closer to his parents. The prison walls may be closing in, but family remains a priority for this fallen titan of finance. Learn Crypto✅️

Lost Funds on an Exchange? Here’s How to Recover Them If you accidentally sent funds to an exchange without a memo,Don't worry! Recovering your funds is possible, though it can be a bit challenging. Here are the general steps you can take: ▪️Contact Support: Immediately reach out to the exchange's support team. Provide them with all relevant transaction details: transaction ID, amount, and sender's address. ▪️Provide Proof: Ensure you have all transaction details ready, including the transaction ID, amount, sender's address, and any other relevant information. ▪️Wait for Response: Be patient; it may take time for the exchange to manually credit your account. ▪️Follow Up: If you don't hear back within a reasonable time, follow up with the exchange. Be persistent but polite. To avoid such mistakes in the future, double-check all transactions before sending. If unsure whether a memo is required, send a small amount first to verify. Learn Crypto✅️

Hamster Kombat coming to TON Hamster Kombat, a Tap-2-Earn management simulation game, is planning to launch its hamster ecosystem, including onchain assets, on TON. Leveraging Telegram's viral social mechanisms combined with special reward cards and other features, the game has reached over 60M users with 24M daily active users. Also, Hamster Kombat’s YouTube channel became the fastest to reach 10M subscribers — in just 7 days. Plus, they have the largest Telegram channel with more than 21M subscribers. To celebrate joining the TON Ecosystem, Hamster Kombat introduced a special "launch on TON" card, offering users additional rewards. Stay tuned for our upcoming Space session with them on X this Monday at 16:00 CET. Learn Crypto✅️

What is SocialFi and how does it work? SocialFi, a combination of "social" and "finance," is a technology that merges social media with blockchain technology. It aims to reward users for posting valuable content online while giving them more control over their data and greater freedom of expression. One of its key features is the use of cryptocurrencies, enabling direct compensation for social engagement. Successful SocialFi Platforms: 1. Friend.Tech: A blockchain-based platform rewarding users for engagement and content creation. 2. Farcaster: Integrates blockchain technology for transparency and fair compensation for content creators. SocialFi represents a new era of social media, empowering users while addressing the shortcomings of traditional social media platforms. Learn Crypto✅️

Crypto Speak: Leverage In cryptocurrency trading, leverage serves as a double-edged sword, offering the potential for amplified profits while carrying heightened risks. This high-risk strategy involves borrowing funds to magnify the size of a trade, enabling traders to control larger positions in the market with a fraction of the capital required. For example, if a trader leverages their trade at 50x, they are trading with 50 times their initial investment. If the market moves in their favor, even a modest price increase can lead to substantial gains. However, a price decline can quickly erode the entire investment, highlighting the volatile nature of leveraged trading. Navigating crypto leverage demands a deep understanding of market dynamics and robust risk management strategies. While the allure of exponential profits is enticing, traders must tread cautiously and be mindful of the potential pitfalls that come with leveraging in the cryptocurrency space. Learn Crypto✅️

Crypto Influencer Hacked: Scammers Exploit X Account to Pump Memecoins! In a shocking turn of events, popular crypto influencer GCR's X account was compromised by scammers on Sunday, promoting memecoins ORDI and Luna 2.0. The hacker posted predictions about ORDI's price, causing a brief surge from $40 to $44. Similarly, Luna 2.0's price skyrocketed 274% momentarily. However, both tokens' prices quickly fell back to their original levels. GCR confirmed the hack, urging followers to disregard any promotional posts. He suspects that someone was bribed at X.com to obtain his login credentials, compromising his account's security. Despite being warned about potential bribes two months prior and increasing security measures, the breach still occurred. This incident highlights the vulnerability of even high-profile accounts to hacking and exploitation. It serves as a reminder for users to remain vigilant and take extra precautions to safeguard their online presence. The crypto community must stay alert and cautious, especially when encountering unsolicited promotional content always DYOR! Learn Crypto✅️

How Tap-to-Earn Works? "Tap-to-earn" is an emerging concept in the cryptocurrency space that allows users to earn cryptocurrency tokens by interacting with a digital platform or application. Similar to Play-to-Earn (P2E), it provides an easy way for users to gain rewards through simple actions. Here's how it typically works: ▪️User Engagement: Users interact with a digital platform, such as a mobile app, website, or game, by performing actions like watching ads, tapping, completing tasks, playing games, or providing data. ▪️Reward System: In return for their engagement, users receive cryptocurrency tokens directly into their digital wallets. These tokens usually have intrinsic value within the platform's ecosystem. ▪️Token Utility: The earned tokens can often be used within the platform's ecosystem for various purposes such as in-app purchases, trading, or even converting them to other cryptocurrencies or fiat money. One notable project utilizing tap-to-earn mechanics is Notcoin, a blockchain-based game where users earn cryptocurrency tokens simply by tapping or interacting with the platform. Learn Crypto✅️

Crypto Speak: QR Codes QR codes have revolutionized cryptocurrency transactions,These two-dimensional barcodes contain all the necessary information, including the recipient's wallet address and the amount of cryptocurrency being sent. With a simple scan using a mobile wallet app, users can initiate a transaction without manual data entry. Example: Meet Sarah, who wants to buy a coffee at a café that accepts Bitcoin. The café displays a QR code with the payment details. Sarah scans the code with her mobile wallet app, and the transaction is processed instantly. No need to enter the recipient's address or amount—the QR code does it all! QR codes have made crypto transactions faster, easier, and more convenient. They're perfect for in-person transactions or payments at physical stores that accept digital currencies. So, next time you see a QR code, remember the power of scanning your way to quick and easy crypto transactions. Also, try scanning the post's QR code to go directly to our website! Learn Crypto✅️

What is Cryptocurrency Insurance? Cryptocurrency insurance is a type of coverage that protects investors and cryptocurrency holders from theft, hacking, and other unforeseen events that could result in the loss of their digital assets. It provides peace of mind by reimbursing the insured party for any losses incurred due to cyberattacks, exchange hacks, or other security breaches. Compared to traditional insurance, cryptocurrency insurance offers greater transparency, faster settlement times, and enhanced security through the use of blockchain technology and decentralized governance. Learn Crypto✅️

Why Crypto taxes are important? Paying taxes on crypto can be a daunting task, but it's essential to understand the rules to avoid any legal issues. If you sell your tokens for a profit, you'll likely be liable for Capital Gains tax. However, there's some good news! Most exchanges allow you to export your trading history, making it easier to collate your data. Additionally, crypto tax services can help you navigate the process for a fee. Don't forget about tax allowances! In the UK, for example, you won't pay Capital Gains tax on crypto profits below £12,500. And, if you're clever, you can even double your allowance by gifting crypto to a partner or spouse. Finally, consider taking a loan against your crypto collateral instead of selling, as this isn't taxable. Just be aware of the risks and loan-to-value ratios. Learn Crypto✅️

🔒 South Korean Tax Body Seizes Crypto: $800,000 Liquidated 💰 The South Korean National Tax Service (NTS) is on a roll, cracking down on tax dodgers who hide income through cryptocurrency investments. In a recent press conference, the NTS proudly displayed its latest catch: over $800,000 worth of previously frozen digital assets. 🚀 This ongoing crackdown has been a success story for the NTS and local tax bodies, with thousands of crypto holders feeling the heat. Over the past five years, the NTS has taken action against 641 high-value and habitual delinquents, freezing a staggering $79 million in coins. 💸 It seems that many tax evaders have learned their lesson, as they've coughed up over $69 million in fines and unpaid taxes to regain access to their tokens. But for those who still refuse to pay up, the NTS isn't playing games – it's already sold off $800,000 worth of coins. ✅ With potentially more than $9 million in its digital coffers, the NTS is sending a clear message: tax justice will be served. Yang Dong-hoon, head of the NTS' Tax Collection and Legal Department, vowed to track down every last asset of these "high-value and habitual" delinquents. 🎨 But it's not just crypto that's caught the NTS' attention. The agency has also seized and sold valuable art pieces, undisclosed inheritances, luxury cars, and even prepaid golf course memberships. It seems that some tax dodgers were living lives of luxury – until they got caught. Learn Crypto✅️

What is Blockchain Scalability? Scalability is the blockchain network's ability to handle more transactions without slowing down or becoming too expensive. Just like a road becomes congested during rush hour, the blockchain also experiences congestion when too many transactions are processed simultaneously. Scalability aims to make cryptocurrency more accessible, efficient, and user-friendly for everyone. How to fix scalability issues- ▪️Enlarge blocks to process more transactions simultaneously. ▪️Use payment channels like the Lightning Network to reduce congestion on the main blockchain. ▪️Consider proof-of-stake to require less computational power, thus improving scalability Scalability is a major challenge in the crypto world, however, networks like Solana and Binance Smart Chain are leading the way with promising solutions. Learn Crypto✅️

🌱What is Yield Farming? Yield farming, also known as liquidity mining, is a lucrative practice in the cryptocurrency space where users provide liquidity to decentralized finance (DeFi) protocols in exchange for rewards. By locking up their crypto assets in a smart contract, users facilitate trading on decentralized exchanges or lending platforms, earning additional tokens or a percentage of transaction fees. Example: One provides liquidity to a DeFi protocol by locking up their Ethereum, earning 5% annual interest in the form of additional tokens. This passive income stream allows them to grow their crypto wealth without actively trading. Yield farming offers a unique opportunity to earn passive income and contribute to the DeFi ecosystem. However, it's crucial to carefully assess the risks and rewards associated with each protocol to ensure a successful harvest. Learn Crypto✅️

💎Notcoin Launches on TON Blockchain, Airdrops Over 80 Billion Tokens! NOT the viral web3 clicker game, has launched its cryptocurrency on the TON blockchain. Over 80 billion NOT tokens have been airdropped to participants, with a starting price of $0.006 per token. The price being volatile, surged to $0.013 before settling at $0.0078 currently and is now tradable on all major exchanges. Within just an hour of listing, Notcoin attracted over 3 million traders, resulting in a trading volume exceeding $250 million and a market cap of over $820 million. However, due to the surge of users, the official Telegram wallet is currently down. The Notcoin team has acknowledged the wallet issue and is working on enhancing its stability. They have promised a significant bonus to everyone who chose Wallet to claim Notcoin once the improvements are completed. Learn Crypto✅️

🚫 Binance Suspends Bitcoin Ordinals Trading – What’s Going On? ➡️ Binance dropped a bombshell on April 4, announcing the suspension of Bitcoin Ordinals trades and deposits starting April 18, 2024. Holders of these unique NFTs were urged to withdraw their assets from the platform's marketplace before May 18, 2024. 🤔 The reason behind this move remains a mystery as Binance simply stated it was looking to "streamline product offerings." Furthermore, the exchange's NFT marketplace will no longer offer perks related to Bitcoin NFTs after April 10, 2024. ⛔️ Despite Binance's decision, rival exchange OKX is doubling down on Bitcoin Ordinals, planning to support four new inscription standards in anticipation of their importance in 2024. 📉 The suspension comes at a time when interest in NFTs, including Bitcoin-based ones, is at a low point. Sales have plummeted from their peak of 117,000 in August 2021 to a meager 2,400 across various blockchains. ⚠️ Concerns about network security and congestion have also been raised. Bitcoin NFTs have been blamed for clogging up the network and causing increased fees. The high volume of inscriptions has led to slow transaction processing and hefty fees totaling over $430.7 million. Learn Crypto✅️

🚀 Bitcoin Ecosystem Thrives: 43 Projects Secure $127M Funding in 2024 💰 The crypto world is buzzing with excitement as Bitcoin takes center stage once again. According to Coin98 Analytics, a whopping 43 projects within the Bitcoin ecosystem have recently scored big with $127.19 million in funding, as reported by crypto-fundraising. 🌐 From layer two (L2) solutions like Bitflow and Merlin Chain, to innovative wallets such as Unisat and Oyl, the infographic showcases a diverse range of startups. Not to mention the rise of decentralized finance (defi), gaming, bridges, APIs, launchpads, and NFT marketplaces – it's a vibrant landscape! 🤝 These projects have caught the attention of some heavy hitters in the investment world. With backers like Castle Island Ventures, Ribbit Capital, and Arrington Capital, it's clear that big players are betting on Bitcoin's continued success. 📈 And the funding stories keep pouring in! Just look at Alpen Labs' impressive $10.6 million round or Ordinalsbot's seed funding of $3 million. It's an exciting time for Bitcoin enthusiasts as these ventures gear up for their next big moves. 🔮 While some projects have already launched tokens, others are still keeping us on our toes with their promising plans. So keep an eye out for these 43 Bitcoin-focused initiatives – they're shaping the future of crypto! Learn Crypto✅️

💎Notcoin Token finally getting listed on May 16! Notcoin the highly anticipated Telegram-based TON network token, is finally set to launch its $NOT token on May 16 after a few delays. The token minted on The Open Network (TON), will be listed on Bybit and OKX and will also be available in Tonkeeper, with OKX planning a 'jumpstart' campaign where users who stake Toncoin (TON) will receive a share of Notcoin tokens. Additionally, Binance has announced NOT as its 54th project on Binance Launchpool. Users can stake BNB and FDUSD into separate pools from May 13 to May 15 to farm NOT tokens before trading opens on May 16 with various pairs. "Probably nothing" might soon become something. Learn Crypto✅️

Trump to Accept Crypto for Campaign Donations. Former U.S. President Donald Trump has announced plans to accept cryptocurrency donations for his upcoming presidential campaign. During a gathering with buyers of his "Mugshot Edition" NFT collection, Trump emphasized his commitment to crypto, criticizing President Joe Biden's stance on the industry. He also vowed to prevent crypto businesses from leaving the U.S. due to regulatory hostility. Trump's mention of the "Joe Boden" meme coin caused it to surge by over 45%, reaching a market cap of $240 million, although he expressed skepticism about it as an investment. In late 2022, Trump acquired his first crypto tokens after launching the Trump Digital Trading Cards NFT collection. Despite concerns of declining interest in NFTs, the project has proven successful, with the floor price currently exceeding $200. Meanwhile, in another related news, President Joe Biden has stated that he plans to veto a resolution affecting crypto policy at the Securities and Exchange Commission (SEC). The White House argues that if passed, the resolution would disrupt the SEC's efforts to protect investors in crypto-asset markets. Learn Crypto✅️

🚨 South Koreans on Alert: Declare Crypto Holdings or Face Tax Consequences 💡 Tax Bombshell Looms: South Korean crypto holders have been given a stern warning by tax accountant Kim Dae-kyung. In an article for Money S, he highlighted the need to declare overseas crypto exchange holdings to avoid potential trouble. 🌐 Domestic Trading Exemption: Currently, profits from crypto trading within South Korea are tax-free. But starting next year, a new law will change that. Traders will have to report gains exceeding $2,100 and pay taxes accordingly. 🗂 Overseas Assets Under Scrutiny: Kim emphasized that holdings on foreign platforms already count as "overseas assets". Neglecting to mention them in tax declarations could be seen as a violation of the law. ⏳ Deadline Approaching: Declarations for these assets must be completed by the end of June this year, as per the Income Tax Act's provisions. 📣 Data Exchange Empowers Tax Authorities: The landscape has shifted since 2014, with South Korean tax bodies now sharing information with international counterparts. This means they can access details about an individual's overseas accounts, including those related to crypto. 💰 Fines and Prosecution at Stake: Non-compliance comes with hefty penalties. Fines can reach up to 20% of the wallet balance, while failing to report substantial assets worth over $3.6 million might even lead to criminal prosecution. ✅ Crypto Clauses in Tax Code: Lawmakers have taken note of the crypto boom and made specific amendments to ensure compliance with tax obligations related to "accounts opened overseas to trade cryptoassets." Learn Crypto✅️