Cryptocurrency

Cryptocurrency Scams Cost Australians Millions

Wednesday. August 28 at 12:30 PM

1 min. read

A recent report from the Australian federal police revealed that Australians lost $122 million to crypto scams in the past year, with most victims under 50 years old. Investment scams totaled $382 million, with 47% related to crypto. Scamwatch data shows scams are often initiated through text or email. Scammers target victims under 50, using modern methods like pig butchering and deepfakes. Scammers promise high returns with low risk, exploiting new technology to deceive victims. The AFP warns that the reported data is likely just the beginning, as many victims may not realize they've been scammed. Investment scams remain prevalent in Australia, with losses exceeding $68 million in 2024. Scamwatch data contrasts AFP findings, showing older Australians are more susceptible to fraud. Elon Musk's image and voice are commonly used in AI-generated scams. Australians are urged to be cautious of investment opportunities that seem too good to be true.

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Semler Scientific Increases Bitcoin Holdings

Tuesday. January 14 at 10:00 PM

Semler Scientific has acquired an additional 237 Bitcoin for around $23 million, bringing their total holdings to 2,321 BTC valued at nearly $192 million. The company purchased the BTC at an average cost of less than $83,000 using funds from stock sales and cash flow. By issuing over $120 million in stock, Semler has boosted its 'Bitcoin yield' from 72.6% to 99.3%. This metric measures the ratio of BTC holdings to outstanding shares, reflecting the company's performance. CEO Doug Murphy-Chutorian emphasized Semler's focus on acquiring and holding Bitcoin to drive growth. The concept of 'Bitcoin yield' was popularized by MicroStrategy, whose stock has surged by 2,000% since investing in BTC. Other companies like Hoth Therapeutics and Genius Group have also followed suit. With corporate treasuries collectively holding over $54 billion in BTC, Semler ranks 13th among public companies. Investment managers are increasingly turning to Bitcoin as a hedge against inflation and fiscal uncertainty in the US.

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Revolutionizing the Web3 Crypto Space

Tuesday. January 14 at 7:00 PM

The Cardano blockchain is currently experiencing challenges as significant holders sell off, resulting in a 20% decline in ADA's value. This raises concerns about its ability to recover stability. On the other hand, Chainlink's outlook for 2025 appears uncertain, struggling to maintain crucial support levels with conflicting expert opinions on its future trajectory. In contrast, Web3Bay (3BAY) is establishing its presence in the Web3 crypto realm. With a presale price of just $0.0039675 in stage 3, Web3Bay has raised over $630,000, indicating a potential 6430% ROI upon launch. Positioned as a key player for e-commerce enthusiasts and crypto traders, Web3Bay is seizing opportunities in a shifting market landscape. Cardano faces pressure from large ADA sales, while Chainlink's future remains ambiguous. In contrast, Web3Bay's structured presale offers growth potential and strategic advantages for early backers, reshaping the decentralized e-commerce landscape.

Cryptocurrency

Debunking Hype Around MacOS Malware

Tuesday. January 14 at 5:00 PM

A recent macOS malware, Banshee, managed to evade detection for over two months by mimicking Apple's encryption scheme. While media outlets raised alarm, Apple security researcher Patrick Wardle downplays the threat, stating the malware's core capabilities are basic. Banshee, a $3,000 'stealer-as-a-service,' targeted crypto wallets and browser credentials until its source code leaked in November 2024. Despite its evasion tactics, Wardle emphasizes that recent macOS versions already block such threats by default. He suggests focusing on fundamental security practices rather than fixating on specific malware strains. Wardle, a former NSA security researcher, highlights the importance of balancing security and usability in Apple's approach. The incident underscores the need for accurate communication of security threats, as technical details can be lost in translation to the public.

Cryptocurrency

Intesa Sanpaolo Makes Historic Bitcoin Purchase

Tuesday. January 14 at 4:00 PM

Intesa Sanpaolo, the largest banking group in Italy, has acquired 11 Bitcoins for approximately 1 million euros, marking the first direct investment by an Italian bank in cryptocurrency. The purchase was confirmed by the bank's press office after an internal email was leaked on 4chan, revealing the acquisition. While details of the motivation behind the investment remain undisclosed, the move signifies a significant step towards digital asset adoption within Italy's financial sector. This development aligns with a broader trend of institutional interest in Bitcoin globally, with companies like MicroStrategy and Metaplanet increasing their holdings. The banking group's foray into cryptocurrency follows a period of regulatory clarity in Europe and signals a growing willingness among traditional financial institutions to explore blockchain technology. Intesa Sanpaolo's proactive approach to digital assets, including previous involvement in blockchain-based bonds and cryptocurrency trading, positions them as a key player in the evolving financial landscape.

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